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ICS PANEL HERALDS 'FOURTH PROPULSION REVOLUTION'

Thursday, September 12, 2019  (Comments: 1)

The International Chamber of Shipping’s 2019 Conference - 'Setting Course for 2050: Powering Global Trade' - confronted the reality of powering global trade without the use of fossil fuels.

The shipping community was challenged to fully explore the options open to the industry and the decisions it faces – decisions which will have implications beyond the sector’s own boardrooms.

Speakers included the Rt Hon Nusrat Ghani MP, Parliamentary Under Secretary of State for Maritime, Department for Transport; Kitack Lim, Secretary-General IMO, Rt Hon Lord Turner of Ecchinswell, Chair, Energy Transitions Commission; Dr Rhian-Mari Thomas OBE, CEO of the Green Finance Institute and Emanuele Grimaldi, President and MD, Grimaldi Group.

Prof Anders Hammer Strømman of the UN Intergovernmental Panel on Climate Change reminded the audience that: “Depending on the amount of CO2 released, between 15 to 40% of emitted CO2 will remain in the atmosphere for up to 2,000 years.”

In his opening remarks on behalf of ICS, Grimaldi (pictured) reflected on the challenge ahead. He reminded the audience that we are embarking on the most important transformation to face the maritime sector since the transition from sail to steam saying: “We all know that change is coming and as in all business the winners will be those who identify the opportunities and make the right decisions. It represents a fundamental transformation in the business of shipping, something that we at ICS call the Fourth Propulsion Revolution.”

He concluded: “What is also clear is that we can’t do it alone. Without the support of consumers, policymakers, the finance community and suppliers the Fourth Propulsion Revolution will be stifled. We must all work together to mitigate the risk of transformation. Risk is our common language. And we need to reach beyond our own community to ensure that the risk is equitably allocated and priced.”

The agenda covered climate science, research and development, finance, policy instruments and the role of the Global Maritime Value Chain.

Reader Comments (1)

I have spent many years digesting the pro's & cons of a wide range of views about 'Global Warming and Climate Change' anecdotal and media presentations etc. and concluded that industrialised nations will eventually have an all Electric Economy sourced by energy from renewables and nuclear power stations, Electrically powered ships with hydrogen fuel-cells neatly solves the CO2 gas and other noxious emissions the primary concern of IMO MEPC. This will encourage further development of viable hydrogen storage at ambient temperatures and pressures. Of particular promise is Liquid Organic Hydrogen Carrier (LOHC) which is a liquid like oil holding about 600 litres of hydrogen gas per litre of oil at ambient conditions.

By Brian Bowker on Monday, September 16, 2019

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