A lifecycle approach to sustainability in the shipping industry

• Integrating cleaner fuels and sustainable technologies to reduce shipping emissions

• Major players Like A.P Moller-Maersk and Hapag-Lloyd lead in sustainable shipping practices

• Innovations in ship recycling by GMS and Dubai Trading Agency set new industry standards

As governments, companies and businesses seek to reduce their carbon footprints, the spotlight has turned on the shipping industry. A lynchpin of the global economy, shipping underpins cross border trade in every sector from heavy industry to consumer products. The sector also accounts for 3% of global carbon emissions, roughly the same as aviation, meaning that if international trade continues to expand, we need to adopt more sustainable shipping practices.

Sustainable practices in shipping operations

Shipping has not been left behind in the race to go green, with a lifecycle approach to building, managing and recycling ships in the most eco-friendly manner possible. Old methods of breaking down ships have been widely criticised for harming the environment and for poor working conditions. But recent initiatives such as the Sustainable Shipping Initiative (SSI) promote increased use of green steel in shipping, highlighting the connection between the shipping and steel sectors and the importance of environmental, social, and governance concerns.

The shipping industry is working on making shipping operations more eco-friendly. This includes using cleaner fuels, plotting better shipping routes, and investing in energy-saving tech. A.P. Moller-Maersk is leading the way here, aiming for net-zero CO2 emissions by 2050. The company is investing in new tech, like ships powered by methanol, to cut down their carbon footprint. Hapag-Lloyd is putting in place various measures to improve sustainability too. The company has upgraded its fleet with tech to use less fuel and cut emissions. It is also looking into alternative fuels, such as liquefied natural gas (LNG), to further reduce environmental impacts.

Norway is showing how countries can push for more sustainable shipping. Norwegian firms are putting money into electric and hybrid ships, and the government is backing projects to create zero-emission ports. This shows how national policies and industry collaboration can drive major progress in sustainable shipping.

Sustainable practices in ship recycling

Companies bridging the gap between ship owners and recycling yards are pushing for better facilities across the Southeast Asia market. GMS, founded by Anil Sharma, introduced the Sustainable Ship and Offshore Recycling Program to create standards for the environmentally safe and responsible recycling of ships. Grieg Green implemented YardScore, a tool to bridge the significant information gaps in international ship recycling such as emissions and material flow.

Dubai Trading Agency, founded by Tahir Lakhani has been recognised for innovative and sustainable practices and has set improved standards in the ship recycling business. Damen Shipyards, finally, has initiated a trial for sustainable ship dismantling that seeks to optimise environmental and economic benefits by exploring the potential for repurposing materials with sophisticated assessment methods.

India and Bangladesh, known for their ship breaking fields, are making positive changes. Thanks to global aid and stricter rules, many of the ship breaking sites now follow the standards of Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. These improvements show a growing global effort to adopt sustainable practices in ship recycling.

A necessity, not a trend

Much has been done to ensure the shipping industry treads more lightly on the planet, but more efforts are needed. Projections published by the European Environment Agency indicate that the shipping industry could account for 17% of global emissions by 2050 if no action is taken to decarbonise the sector.

We must aim for a ship lifecycle that is as close to a closed loop as possible, boost the efficiency of shipping tasks, and ensure that caring for the planet is always in mind. In this way, we can fight poverty and promote prosperity by expanding global trade and connectivity, while also preventing catastrophic climate change.