Further tightening of existing Energy Efficiency Design Index (EEDI) standards, resulting in an increasing number of energy-efficient new-build vessels joining the fleet.

Reduction of the transport performance per ship (measured in CO2 emissions per tonne/kilometre) of an average of 40% by 2030 (compared to 2008 levels). The aim for 2050 is a 70% reduction.

An absolute reduction of greenhouse gases of at least 50% in 2050 (compared to 2008). This should be followed by a total phasing out of greenhouse gases (including CO2) as soon as possible in the second half of this century.

In order to achieve these ambitious – yet realistic – objectives, shipowners are partly dependent on other links in the logistics chain. For example, although shipowners are the ones who make a vessel available, it is often the client (a charterer or shipper) who determines just how efficiently a ship will operate.

In addition, alternative fuels and propulsion techniques for new-build vessels will have to be developed further in order to reduce and eventually phase out emissions of CO2 and other pollutants.

However, because these technologies are not available for every ship type and size, the levels of required investment will be substantial, leading to increased transport costs for shipowners. This raises the following question: how do we achieve these objectives?

Another key factor in the forthcoming period will be that the IMO takes consistent decisions concerning any technical, operational and/or economic issues that may arise. All factors must be carefully considered in order to prevent any market disruption. Transporting cargo with vessels of various flag states and diverse vessel types, as well as by other (more CO2-intensive) transport modalities, must also be prevented.

For the short term, the KVNR is committed to a targeted approach, whereby shipowners can determine for themselves which measures (both technical and operational) they will take to meet the CO2 reduction target of 40% in 2030 compared to 2008. To this end, it is essential that the targeted approach of shipowners is verifiable and enforceable.

For the medium- and long-term, new techniques and solutions are needed to enable ships to sail with low-carbon or CO2-free emissions. R&D and pilot studies are therefore needed as quickly as possible to determine which alternative fuels and/or energy carriers are most suitable for different ship types and different sectors (for example, short sea shipping versus intercontinental shipping). An international maritime sustainability fund could contribute to this by means of a CO2 tax on shipping fuels.

When approached logically, global measures should also be feasible; assuming that safety standards are not at risk, and that a proper balance between reducing CO2 emissions and associated costs is maintained.

In addition to participating in a green methanol project for the maritime sector, the KVNR is currently investigating a possible collaboration with knowledge institutions for a pilot study looking into the use of hydrogen in smaller ship engines.

In a global context at the IMO, there are now taking place official discussions about setting up a global maritime sustainability fund. In this set-up, a CO2 tax of 2 US dollars per tonne of bunkered fuel could generate a multi-billion dollar fund to finance the Research & Development of alternative fuels and energy carriers for the global fleet. The coming period will see this unique proposal from the international shipowners' associations elaborated further together with interested IMO member states.