Login

Show Notes – How Sustainability and ESG Are Changing the World of Ocean Shipping

Overview:

            After a holiday break and some much-needed R&R, Bryan and Don get right back into the swing of things and sit down with Lee Kindberg, Head of Sustainability for North America at Maersk. They pull apart complicated issues revolving around carbonization and emissions, the future of ocean shipping vessels, Maersk’s commitment to being net-zero by 2040 and how IMO may change the industry in the coming years.

Key Topics:`

  • Understanding IMO and Planning for IMO 2023
  • The Importance of ESG
  • Early Adoption of Environmental Accountability 
  • Maersk’s Commitment to Sustainable Vessels
  • The Difference between Biofuels & Fossil Fuels
  • Upcoming Changes to Vessels and Emissions Requirements
  • The Market for Alternative and Renewable Energy

Takeaways:

  • IMO 2023 may be onerous as the cost of alternative fuels remain high
  • Maersk is now committed to achieving net-zero emissions by 2040
  • According to the International Energy Agency, international shipping was responsible for approximately 2% of global energy-related CO2 emissions in 2020
  • The implementation of rules by IMO often take 5-10 years to take effect
  • Digitalization offers key visibility to shippers and carriers on reducing their greenhouse-gas effect
  • The rating scale will likely take effect in January of 2023 and rate vessels on a scale of A through E based on emissions/energy efficiency