Shipping Industry's Transition to Sustainable Fuels and Technologies

Shipping drives global trade but also significantly contributes to carbon emissions, necessitating urgent adoption of alternative fuels and innovative technologies for a sustainable future.

### Navigating the Future of Shipping: Cleaner Fuels and Innovative Technologies
* 🌍 Shipping is a crucial part of the global economy, responsible for **over 80% of world trade**, yet it emitted **over a billion tons of CO2** in 2018, contributing to roughly **3% of all human-made carbon emissions**.
* 📉 The International Maritime Organization is implementing a **global carbon tax** and aims for **net-zero emissions by 2050**, with Asia playing a **vital role in this transition**.
* ⚓ Hyundai Heavy Industries is leading the charge in alternative fuels, having built the **world's largest methanol-powered container ship**, which can **reduce carbon emissions by 25%**.
* 💰 However, challenges remain, including **high costs and limited supply chains** for methanol and the **toxicity of ammonia**, while LNG, though **reducing CO2 emissions by 20%**, is still a fossil fuel with **methane leakage concerns**.
* 🤖 Innovations like Neptune Robotics’ underwater robots are addressing biofouling, which can **increase fuel consumption by 30%**, by cleaning hulls and **saving up to 18% of fuel costs**.
* 💡 Silverstream Technologies is also enhancing fuel efficiency through its air lubrication system, which uses microbubbles to **reduce friction**, potentially saving shipowners **5-10% in fuel costs**.
* 🔧 The shipping industry must embrace these innovations as a **moral imperative** to achieve **zero emissions by mid-century**, requiring **collaboration and investment in new technologies**.
* 📅 With ambitious goals set, the future of shipping hinges on the **successful integration of cleaner fuels and advanced technologies** to navigate towards a **sustainable future**.

How This Surprising Tech Could Clean Up Global Shipping | Momentum

Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.


Bloomberg Originals

The Impact of Shipping on the Global Economy and Environment

Shipping is crucial to the global economy, accounting for over 80% of world trade and emitting more than a billion tons of CO2 in 2018.

The International Maritime Organization is implementing a global carbon tax and pushing for net-zero emissions by 2050, with Asia playing a vital role in the transition.

Hyundai Heavy Industries is leading the way in using alternative fuels, such as methanol and ammonia, to power shipping vessels, but challenges like high costs and limited supply remain.

The Controversy of Liquified Natural Gas (LNG) as an Alternative Fuel

LNG is a controversial alternative fuel, cutting CO2 emissions by 20% compared to oil but still contributing to methane pollution.

Currently, LNG and methanol are the only available alternative fuels, with LNG having a more established infrastructure for fleet bunkering.

The transition to net zero emissions by 2050 is challenging, and a mix of fuels may be a more realistic strategy, while advances in shipbuilding technology are also needed for a carbon-neutral future.

The transition to alternative fuels for ships is expensive, requiring an additional $8 to $28 billion annually by 2050.

Biofouling on ship hulls increases drag and fuel consumption, potentially raising carbon emissions by 30%.

Neptune Robotics' underwater robots are unique in their ability to clean hulls in extreme environments and murky waters, claiming to save 18% of fuel consumption worldwide and preventing up to 5 million tons of CO2 emissions.

Owners use coatings on hulls to prevent biofouling, but concerns arise from harmful substances like copper and arsenic leaching into the ocean.

Neptune Robotics' cavitational water jet cleaning technology removes biofouling without damaging the coating, offering a more sustainable solution.

The company's robots are evolving to become fully autonomous, with plans to expand to 100 robots in two to three years, aiming for greater flexibility and cost efficiency in their operations.

Bubbles Revolutionizing Fuel Efficiency in Shipping

Silverstream Technologies uses microbubbles to reduce friction under commercial ships, improving fuel efficiency by 5% to 10%.

The unique properties of microbubbles, with high surface tension, allow them to bounce off each other and create a foam-like effect.

The technology, inspired by the founder's passion for the sea and calculations, has the potential to save shipowners $5 billion and offers a solution for future fuel cost challenges.

Silverstream's Air Lubrication Technology

Silverstream's air lubrication system, installed on a Chevron vessel, uses microbubbles to reduce emissions.

The company has 200 systems on order and has produced just under 100, aiming to install 500 ships by 2025.

Silverstream is working on integrating their technology with ships' main engines to boost fuel efficiency and is collaborating with major shipping companies for decarbonization strategies.