Sustainable Shipping with Johannah Christensen, CEO of Global Maritime Forum
Nov 14, 2023
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Johannah Christensen, CEO of Global Maritime Forum, discusses regulatory policies and risk mitigation for vessel owners switching to green fuels. They explore the progress in methanol and ammonia as fuels for shipping and the need for binding regulations. They also talk about the lack of awareness in decarbonizing shipping and the potential geopolitical implications of a green fuel economy.
The adoption of a net zero target for shipping by 2050 sends a clear signal of the industry's commitment to decarbonization and the need for collaboration among stakeholders.
The development of zero emission fuels like methanol and ammonia, along with the establishment of green shipping corridors, are driving the progress towards sustainable shipping.
The podcast emphasizes the importance of setting binding regulations and policies, as well as the role of collaboration, public-private partnerships, and the financial sector in driving the transition towards sustainable shipping.
Deep dives
Summary of Podcast Episode
The podcast episode explores the recent developments and challenges in the decarbonization of the shipping industry. The episode highlights the significant progress made at the Marine Environment Protection Committee meeting 80 (MEPC 80) where the International Maritime Organization (IMO) adopted a net zero target for shipping by 2050. This historic agreement sets a clear signal that the sector is committed to decarbonizing and will require the uptake of zero emission fuels. The episode also discusses the importance of demand and the need for cargo owners and other industries to actively support the decarbonization efforts by setting their own targets and incentivizing the use of green fuels. It emphasizes the role of collaboration, public-private partnerships, and the financial sector in driving the transition towards sustainable shipping. Overall, the episode highlights the optimism and opportunities in the shipping industry, while acknowledging the challenges and the importance of continued efforts to achieve the ambitious decarbonization targets.
The Importance of the IMO's Net Zero Target
The episode discusses the significance of the IMO's net zero target for shipping by 2050. It recognizes the positive outcome of the MEPC 80 meeting and the progress made towards decarbonization. The net zero target sends a clear signal that the shipping industry is committed to reducing emissions and transitioning to cleaner fuels. The episode highlights the need for collaboration and cooperation among stakeholders, including cargo owners, financiers, and national governments, to drive the demand for zero emission vessels and fuels. It underlines the importance of setting binding regulations and policies to support the industry's decarbonization goals. Overall, the episode emphasizes the role of the IMO as a global regulator and the potential for the shipping sector to be a driving force in the transition to a low-carbon future.
Challenges and Opportunities in Sustainable Shipping
The episode explores the challenges and opportunities in achieving sustainable shipping. It acknowledges the progress made, such as the development of zero emission fuels like methanol, and discusses the importance of transitioning away from heavy fuel oils. The episode emphasizes the need for policy certainty and clear regulations to enable investments in sustainable shipping solutions. It highlights the role of cargo owners, financial institutions, and international collaboration in supporting the demand for clean fuels and facilitating the transition to zero emission vessels. The episode also underlines the importance of including developing countries in the decarbonization efforts and finding ways to make the green hydrogen economy accessible and beneficial for all. Overall, it conveys a sense of optimism about the future of sustainable shipping, while recognizing the ongoing challenges and the need for continued collaboration and action.
Rise of Zero Emission Shipping
The podcast episode discusses the rise of zero emission shipping, highlighting the progress in the use of methanol and ammonia as alternative fuels. The episode mentions the successful launch of a container vessel operating in Europe with zero emission capabilities. It also notes the significant increase in methanol carrier orders, with around 200 currently on order, indicating a growing interest in adopting alternative fuels in the shipping industry. However, the challenge lies in the supply of these fuels, with methanol availability being insufficient to meet the demand. To overcome this, the shipping company has established its own subsidiary and entered into agreements with various countries to secure the fuel supply for their vessels. The episode also discusses the advancements in ammonia technology, with the development of ammonia engines and vessel designs, as well as the increase in orders and commitments for ammonia-powered vessels. Alongside these technological advancements, the episode highlights the importance of national and regional corridors for shipping, which bring together stakeholders to demonstrate zero emissions shipping on favorable routes. These corridors not only serve as experimental platforms but also contribute to national positioning and support the transition to green shipping.
Potential Benefits and Challenges of Green Shipping Corridors
The episode explores the concept of green shipping corridors, which are collaborative initiatives aiming to demonstrate zero emission shipping on specific routes. These projects involve stakeholders from various sectors and focus on favorable routes that can provide the necessary conditions for zero emission shipping. The episode highlights the potential benefits of green shipping corridors, including increased collaboration, technological development, and enhanced energy security. It discusses how these corridors can serve as platforms for testing and scaling up green fuel production, leading to opportunities for industrial development. The episode acknowledges the challenge of closing the cost gap between fossil fuels and green fuels, especially before the implementation of IMO policies in 2027 and 2028. However, it emphasizes the role of national policy in supporting interim measures and facilitating the transition to zero emission solutions. The episode also emphasizes the need for international collaboration and the positive impact of organizations like the IMO in bringing countries together to address the challenges of decarbonizing the shipping industry. Overall, the episode presents green shipping corridors as a bright spot in international collaboration and a key driver in moving towards a more sustainable and decarbonized shipping sector.
The teams sits down with Johannah Christensen to discuss regulatory policies and risk mitigation for vessel owners switching to green fuels and what we can do to encourage that jump as well as ensure a Just Transition.
About Global Maritime Forum (GMF):
GMF is an international not-for-profit organisation committed to shaping the future of global seaborne trade to increase sustainable long-term economic development and human wellbeing.
About the Getting to Zero Coalition (GTZ):
GTZ is a collaboration-based platform committed to fully decarbonising the maritime industry by 2050. The industry-led coalition consists of leading stakeholders from across the maritime and fuels value chains, the financial sector and more. It is managed by the Global Maritime Forum and was founded together with the World Economic Forum and Friends of Ocean Action in 2019.
About Johannah Christensen:
Johannah is the CEO of GMF. In the past, Christensen worked as Head of Development at Danish Maritime Days and was an independent sustainability and partnership development consultant working for clients such as A.P. Møller-Mærsk, Global Reporting Initiative, MCI Group, Wonderful Copenhagen and UN Global Compact.
