Facing a stiff IMO target, the shipping industry is shaping up with signals from countries like India serving as beacons of hope for the rest of the world
The International Maritime Organisation (IMO) has sounded a global alarm, demanding a 50 percent reduction in shipping emissions by 2050. Responsible for 80 percent of global trade, the industry contributes nearly 3 percent of worldwide greenhouse gas emissions due to its reliance on fossil fuels.
Meeting this mandate requires a radical industry overhaul, with investments in clean technologies, modern vessels, port infrastructure, green shipping fuels, and digitalisation. As the global population and economies burgeon, this target poses a formidable challenge.
Against this backdrop, Garden Reach Shipbuilders and Engineers (GRSE) in India has entered into a pivotal memorandum of understanding (MoU) with SeaTech Solutions International, Shift Energy, and ABS to construct India's inaugural electric tug, the E-VOLT 50.
Designed to revolutionise India's tugboat industry, the vessel promises substantial reductions in carbon emissions and a significant boost in operational efficiency. PR Hari, Chairman and Managing Director of GRSE, emphasised the transformative impact of the E-VOLT 50, positioning it as a key player in India's bid to become a leading force in global green shipbuilding by 2030.
Simultaneously, India is taking decisive steps towards decarbonisation by championing green shipping corridors. Recognised as trade routes with zero-emissions technologies, these corridors are gaining global prominence as a strategic approach to align with the IMO's emission reduction targets.
Ports across India are unveiling plans for transcontinental green shipping corridors, fostering collaborations among major shipping companies and cargo owners.
These initiatives aim to reduce carbon emissions on some of the busiest container shipping routes globally, emphasising a commitment to a cleaner future.
In his keynote address at the 13th edition of the INMEX SMM India 2023 conference, Shyam Jagannathan, Director General of Shipping, highlighted the commitment of India’s maritime sector towards a prosperous and environmentally responsible future.
He stated that the sector's vision involves quadrupling port capacity, developing clean energy fuel hubs, and promoting cruise tourism growth. In the global context, the ramp-up to halving emissions by 2050 will call for concerted and coordinated moves.
Collaborative efforts with international partners must focus on reducing carbon emissions on designated routes by 2025. Under the C40 Cities initiative to decarbonise major cities worldwide, these partnerships aim to deploy the first reduced- or zero-carbon-capable lifecycle ships. The initiatives extend to decarbonising some of India's busiest ports, showcasing a blueprint for sustainable maritime practises that can be replicated globally.
In the Indian context, Jagannathan talked about the National Action Plan for Green Shipping, which promotes eco-friendly practises and provides incentives for low-emission ships. He believes that this plan will position India's maritime sector towards a brighter and more sustainable future.
Listing recent achievements, he highlighted doubling the capacity of major ports, expanding waterway networks, increasing cruise tourism, and creating more job opportunities for seafarers. He also mentioned the progress made in solar power adoption and lighthouse tourism.
Transport ministers of nations worldwide stress the importance of collective action, emphasising that through memoranda of understanding, participating nations must pool their will, investments, and momentum to steer the global marine sector towards a secure, reliable, sustainable, and net-zero future.
By investing in green shipping technologies and infrastructure, India's maritime industry is at the forefront of the global shift towards a more sustainable and environmentally conscious future.