- Intercargo and GCMD launch 2-year effort to promote energy efficiency.
- Focus on the pay-as-you-save model to support smaller dry bulk fleets.
- Partnership aims to scale drop-in biofuels and onboard carbon capture.
The owners' association for dry bulk carriers, Intercargo, has partnered with the Singapore-based Global Centre for Maritime Decarbonisation (GCMD) to advance technology for energy and fuel efficiency on bulk vessels.
The two-year collaboration will advocate for GCMD’s newly created pay-as-you-save financing model among bulk operators, particularly those with small and medium-sized fleets. The emphasis is also on unpredictable tramp trades where low-carbon fuels are probably not accessible.
The two organizations stated that although these fuels are being expanded, it is necessary to have “pragmatic near-term solutions, such as drop-in biofuels, onboard carbon capture and energy efficiency technologies to meet the International Maritime Organization’s decarbonisation targets”.
Last year, GCMD began promoting its pay-as-you-save financing model to link payments for fuel-saving technology with verified savings.
GCMD chief executive Lynn Loo stated, “This partnership offers a valuable opportunity to deepen our understanding of the dry bulk segment’s operational realities and work collaboratively to address gaps in meeting the industry’s decarbonisation targets.
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“Through Intercargo’s consultative status at IMO, we hope to contribute to the development of global regulatory frameworks for maritime decarbonisation.”
Intercargo technical committee chair Dimitris Monioudis stated that the goal is to assist dry cargo owners in their decarbonisation initiatives.
“This partnership helps ensure practical, scalable technologies reach the companies moving most of the world’s essential cargoes.”