Shipping industry on track to cut emissions: IMO chief

“Everything is moving in accordance to the timetable, and then we will make the decisions in 2025,” Mr Arsenio Dominguez told reporters in an interview on April 19 to wrap up the Singapore Maritime Week. The global shipping industry is aiming to achieve net-zero emissions by 2050, and has set emissions targets for 2030 and 2040.Net-zero emissions mean the overall balance of greenhouse emissions produced is equal to the amount of such emissions being taken out of the atmosphere.

Cleaner marine fuels like methanol are seen as a way for the industry to cut emissions. Using such fuels requires different engine technologies and infrastructure, and operators must also know how to handle the fuels safely.

According to DNV, which keeps a database of vessels by fuel types, more methanol powered ships have been ordered in recent years. There were 138 orders in 2023, up from 35 in the previous year. These include vessels that are retrofitted to run on the fuel.

Mr Dominguez said Singapore’s efforts to decarbonise the maritime industry, which include initiatives such as the testing of alternative fuels and training seafarers on how to handle them safely, can provide lessons for other countries.

Asked about how the IMO navigates the difficulties that arise from geopolitics – like attacks on ships in the Red Sea – Mr Dominguez said his main concern is for the safety of seafarers and the safe navigation of ships in order to maintain global trade flows.

But these geopolitical situations do not distract the agency from working towards its decarbonisation goals, he added.

“The commitment from the members remains there. It remains strong in order for us to get solutions, find the common ground, get the consensus, approve the measures and start implementing them.”