Cookies help us deliver the best experience on our website. By using our website, you agree to our use of cookies Dismiss

Project to demonstrate financial drivers for energy efficiency

A £1.8 million Vessel Technology Assessment System (VTAS) project has been established in the UK, which aims to quantify the financial benefits of investing in fuel efficient technologies for existing and future vessels to assist in accelerating their deployment across the maritime industry.

{mprestriction ids="1,2"}The project will be led by BMT and delivered in partnership with Black & Veatch, having been commissioned and funded by the Energy Technologies Institute (ETI).

“Maritime transport emits around 1,000 million tonnes of CO2 annually and is responsible for about 3 per cent of global greenhouse gas emissions,” said David Butler, project manager for HDV marine efficiency at the ETI.

“Furthermore, the International Maritime Organisation states that emissions could rise by 50 – 250 per cent by 2050 compared to 2011 levels. Therefore, the efficient use of fuel through the implementation of energy saving devices (ESDs) will be critical to the future affordability, security and sustainability of maritime transport.”

The project will look to create independent, transparent information to support decision makers who can positively influence commercial shipping to reduce fuel consumption.

Initially, work will focus on addressing perceived barriers to the adoption of ESDs, providing data driven technical models of individual ships, and performing financial modelling to help demonstrate the CAPEX and operational impacts of these technologies.  

“There is a choice of ESDs within the commercial shipping market such as Flettner rotors, high efficiency propellers and wingsail technologies and yet the uptake to date has been somewhat slow, due to the perceived technical and financial risks of implementing these technologies,” said John Buckingham at BMT.

“Through improved ship-based modelling, assessments and data validation, this project will allow us to explore the options and provide independent evidence that stakeholders can trust to make an informed decision.”{/mprestriction}

Related items

  • Fuel choice the essential decision in shipping's decarbonisation, finds DNV GL

    DNV GL – Maritime has released the fourth edition of its Maritime Forecast to 2050. The purpose of Maritime Forecast to 2050 is to enhance the ability of shipping stakeholders, especially shipowners, to navigate the technological, regulatory and market uncertainties in the industry, and set shipping on a pathway to decarbonisation. It is based on a library of 30 scenarios which project future fleet composition, energy use, fuel mix, and CO2 emissions to 2050. Sixteen different fuel types and 10 fuel technology systems are modelled in the report.

    “The grand challenge of our time is finding a pathway towards decarbonisation,” said Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “Reducing GHG emissions is rapidly becoming the defining decision-making factor for the future of the shipping industry. The pressure to act decisively is mounting. Perfect is the enemy of good, and so we mustn’t wait for an ideal solution to arrive and risk making no progress at all. Using a wide range of scenarios involving different fuel types and technologies, and varying degrees of regulatory pressure, our new report helps to map a way forward, offering shipowners clear insights on how to meet the challenges and opportunities ahead.”

    The Maritime Forecast identifies the choice of fuel as the essential factor in decarbonising shipping. The industry is at the beginning of a transition phase, with many potential options emerging alongside conventional fuels. This increasingly diverse fuel environment means that engine and fuel choice now represent potential risks that could lead to a stranded asset. Factoring in the impacts of availability, prices and policy, on different fuels, makes the choice even more complex.

    To capture this complexity and help make this picture clearer the Maritime Forecast offers a wide range of scenarios, outlining the potential risks of a particular fuel choice. To make the ramifications concrete, alongside the pathways, the Maritime Forecast includes detailed analysis of a Panamax bulk carrier newbuilding. By stress testing technology decisions under the various pathways and scenarios, the Forecast presents potential performance and the carbon robustness of the various design choices.

    The 30 scenarios result in widely different outcomes for the fuel mix in the fleet. In the scenarios with no decarbonization ambitions, very low sulphur fuel oil, marine gas oil and LNG dominate. While under the decarbonization pathways, in 2050 a variety of carbon-neutral fuels holds between 60 per cent and 100 per cent market share.

    Under the decarbonisation scenarios it is hard to identify clear winners among the many different fuel options. Fossil LNG gains a significant share until regulations tighten in 2030 or 2040. Bio-MGO, e-MGO, bio-LNG and e-LNG emerge as drop-in fuels for existing ships. By 2050, E-ammonia, blue ammonia and bio-methanol frequently end up with a strong share of the market and are the most promising carbon-neutral fuels in the long run.

    A surprising result from the model is the relative limited uptake of hydrogen as a ship fuel, as a result of both the estimated price of the fuel and the investment costs for the engine and fuel systems. Hydrogen, however, plays an integral role as a building block in the production of several carbon-neutral fuels such as e-ammonia, blue ammonia and e-methanol, all of which gain significant uptake under the decarbonization pathways. It may also find niche applications in some vessel types, such as ferries and cruise vessels, as well as in specific regions where investments have been made into local production and distribution.

    The Maritime Forecast to 2050 is part of a suite of Energy Transition Outlook (ETO) reports produced by DNV GL. The ETO has designed, expanded and refined a model of the world’s energy system encompassing demand and supply of energy globally, and the use and exchange of energy between and within ten world regions.

    The full Maritime Forecast to 2050 can be downloaded here.

  • New funding to boost VesselMan and Ulysses maintenance system project

    Innovation Norway has provided support for Greek software provider Ulysses Systems Hellas and Norway’s software-as-a-service (SaaS) solutions provider VesselMan to develop an integrated Planned Maintenance System and project management tool for technical projects. The joint project is part of the Greece Business Innovation program.

  • Danish trio collaborate to develop digital route optimisation solution

    Weilbach, Vento Maritime and Force Technology have joined forces to develop a new digital route optimisation solution.

  • ‘Business as usual’ not an option for employers, warns global maritime survey

    Shipping industry employees are prioritising greater efforts to improve diversity and inclusion, as well as workplace support for training and development - and are increasingly prepared to look for new jobs elsewhere, according to the results of a major annual survey.

  • MPA Singapore awards 12 start-ups S$600,000 for maritime innovation

    digital twin may 4

    A virtual environment based on a digital twin of a crude oil tanker developed by Kanda to simulate a Lock Out Tag Out safety procedure. Image courtesy of Kanda. 

    The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), have announced that 12 start-ups from Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71)’s Smart Port Challenge (SPC) 2019 have each been awarded S$50,000 in grant funding from MPA. The funding will enable the start-ups to conduct prototype development and test-bed their near market-ready solutions.

Joomla SEF URLs by Artio

Login/Register

Register or Login to view even more of our content. Basic registration is free.

Register now

Digital Ship magazine provides the latest information about maritime satellite communications technology, software systems, navigation technology, computer networks, data management and TMSA. It is published ten times a year.

 

Address:
Digital Ship Ltd
Digital Ship - Digital Energy Journal
39-41 North Road
London
N7 9DP
United Kingdom

Copyright © 2020 Digital Ship Ltd. All rights reserved           Cookie Policy         Privacy Policy