During COSCO Shipping Holdings’ 2024 Global Supply Chain Partner Conference on June 26, Bing Chen, Chairman, President, and CEO of Seaspan, addressed the evolving landscape of green decarbonization in the shipping sector. Emphasizing feasibility, affordability, and sustainability, Chen highlighted the industry’s pursuit of the International Maritime Organization’s (IMO) net-zero emissions target by 2050.
Chen outlined the current diversity in energy options within the global fleet of approximately 110,000 vessels, where less than 2% utilize clean energy. This includes LNG, battery hybrid, biofuels, methanol, nuclear, hydrogen, and ammonia-powered vessels, with significant new orders for LNG and methanol dual-fuel container ships.
Regarding the future trajectory of green decarbonization, Chen emphasized the ongoing experimentation phase and the eventual economic screening that will determine the feasibility of various energy solutions. He underscored the industry’s gradual evolution towards a unified energy source, foreseeing a long-term transition process marked by technological advancements and economic considerations.
Seaspan, known for its young fleet and commitment to sustainability, operates LNG and methanol dual-fuel container ships. The company actively collaborates with industry partners on innovative solutions, such as ammonia-fueled vessels, aimed at offering flexible and efficient options during the transition to green energy.
Chen also advocated for broader participation across the supply chain and emphasized the role of regulatory guidance in scaling green initiatives. He stressed the importance of sustainable development practices that distribute the responsibility of decarbonization equitably among stakeholders.
Seaspan’s recent collaboration with COSCO Shipping Heavy Industry on methanol dual-fuel engine conversions marks a significant step in advancing green shipping technologies. This initiative, part of a broader industry trend towards dual-fuel conversions, underscores the sector’s commitment to reducing environmental impact while enhancing operational efficiency.
As the shipping industry navigates these transformations, Chen envisions a future where sustainable, affordable, and scalable solutions will define the next phase of green decarbonization efforts worldwide.
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