Shipping sustainability: black carbon, the next frontier and maritime shipping - environmental impacts (the future fuel for the shipping industry)
The shipping industry is an integral part of global trade, accounting for more than four-fifths of worldwide merchandise trade by volume. With increasing economic growth and resounding desire for shipping sustainability, the spotlight is on the environmental impacts of the shipping industry. By 2050...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2022
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| Online Access: | https://hdl.handle.net/10356/158959 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The shipping industry is an integral part of global trade, accounting for more than four-fifths of worldwide merchandise trade by volume. With increasing economic growth and resounding desire for shipping sustainability, the spotlight is on the environmental impacts of the shipping industry. By 2050, the shipping industry is expected to decarbonize by at least 50% from 2008 levels. This emphasises the need to reduce both Long-Lived Climate Pollutants and Short-Lived Climate Pollutants to meet shipping sustainability goals. Alternative fuels are the next frontier of sustainable shipping where the possibility of zero emissions paves the way for a green shipping industry in the near future.
As such, this paper seeks to bridge the knowledge gap between the current fuel usage and future fuel implementation in the shipping industry. Literature review on shipping sustainability focused on Black Carbon and various key alternative fuels. Surveys and interviews with various industry professionals were carried out to understand the market sentiments about the adoption rate of current and future fuel usage. A research impact evaluation was adopted to conduct a comparative impact evaluation between the various key alternative fuels, which suggested methanol as the future fuel. Subsequently, a strategic framework was recommended to collectively bridge the knowledge gap in shipping sustainability.
Keywords: Black Carbon, Shipping Sustainability, Alternative Fuels, LNG, LPG, Methanol, Biofuels, Hydrogen, Future Fuel Mix, Comparative Impact Evaluation, Strategic Framework |
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