NEW marine repor ts and guides
Furthermore, by integrating real emissions data into financial decision-making, the framework has also enabled signatories to use climate alignment scores to shape financing decisions, guide sustainability-linked lending, and support investment in green technologies such as biofuels and alternative propulsion systems. Increased transparency has also fostered closer collaboration between financial institutions and shipowners, reinforcing a shared commitment to decarbonisation.
"Alignment with 2050 net zero goals remains a challenge, in particular for certain vessel types that are facing operational complexities. Now, the Poseidon Principles’ adoption of well to-wake emissions reporting offers a robust foundation for addressing these challenges head on," said Paul Taylor, Vice Chair of the Poseidon Principles and Global Head of Maritime Industries, Societe Generale.
Download the report at
https://bit.ly/41uXlEQ.
EMSA report: Potential use of nuclear power for shipping
The report notes that the EU has identified nuclear energy as a sustainable source of energy able to assist in meeting its zero- emission goal and therefore is eligible to obtain green sustainable financing. This report is the last one of a series of studies produced in 2022, 2023 and 2024 covering the Potential use of Biofuels, Potential of Ammonia as fuel and Potential of Hydrogen as fuel, Synthetic fuels, and Potential of Wind-Assisted propulsion for shipping.
Highlights from the EMSA-commissioned
report on the potential use of nuclear power for shipping were presented during a recent workshop on alternative fuels and power solutions for shipping and ports by one of the authors from the American Bureau of Shipping (ABS). Moreover, Texas A&M University and Arcsilea also contributed to the comprehensive study.
Key findings: - Nuclear Technology is key. ‘Generation IV’ reactors hold promise to deliver compact, intrinsically safe, reliable, long- term power on ships with some reactor technologies looking more suitable for marine use than others.
- Risk and Safety: The study assessed several potential designs for nuclear-powered vessels from the risk and safety perspectives and concluded that further detailed studies to better understand the risks and additional safeguards will be needed.
- Supply chain: Issues related to nuclear fuel availability and infrastructure for commercial use need to be solved, including waste disposal.
- Emissions: Nuclear propulsion presents a unique advantage with almost no well-to-wake GHG emissions and eliminates local air pollutants created by combustion engines.
- TCO: Total cost of ownership for nuclear-powered vessels is estimated to be similar to that of comparable vessels running on conventional fuel oils during the initial years of operations, but lower over time.
- Regulations: Facilitating the adoption of nuclear power on merchant ships may require modernisation of regulatory frameworks to promote safety, environmental protection, technology integration and a comprehensive liability regime. Creating and updating regulations would need to include an active ‘partnership’ of industry and national and international regulatory authorities as well as classification societies.
Nuclear propulsion has mainly been used on military ships and icebreakers in the Arctic so far but is now seen as a pathway that can contribute to decarbonising commercial shipping. It does, however, present “a series of challenges that will need first to be addressed in relation to production, safety, security, training and also liability and insurance regime,” the report says.
Nuclear power for shipping seems to be a potential pathway for contributing to the decarbonization of the sector, but it presents a series of challenges that must first be addressed, including production, safety, security, training, and the liability and insurance regime.
Read the report at
https://bit.ly/4iAQsIb. THE REPORT | MAR 2025 | ISSUE 111 | 53
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