NAPA – MEPC 83
Mikko Kuosa, CEO, NAPA:
“We welcome the new credit trading plan and fuel standard, known as J9, that the IMO has introduced at MEPC 83 this week. This will clearly enhance the commercial rationale for adopting operational and vessel efficiency solutions, such as voyage optimization, drop-in biofuels, wind-assisted propulsion systems, and energy efficiency technologies.
“We should not underestimate the scope and scale of the global greenhouse gas (GHG) emissions trading system the IMO has agreed to. To efficiently and effectively rise to the IMO’s new regulations, and avoid penalties for non-compliance, ship owners and operators will need to collect and manage a wealth of data.
“Standardized data and digital tools will be the key to effectively managing compliance prediction, regulatory reporting, commercial performance and continuous monitoring within this new regulatory framework. This digital-first approach will answer key questions, limiting exposure to the new emissions costs: What speed should I travel? Which route should I take? Based on my ship’s unique operating profile, what clean technology, such as wind-assisted propulsion systems, should I implement and when? What alternative fuel is available to minimize my emissions costs? How is my fleet-wide environmental performance? How can we automate data recording and management to ease compliance?
“Compliance isn’t one-size-fits-all. Fleet size, vessel types, and trade routes will shape the best approach, but one thing is clear: early knowledge, automating data collection, management and proactive action based on real operational data will pay off; those who best navigate the IMO’s new emissions trading system will have a clear commercial advantage over their competitors.
“With today’s complex web of environmental regulations and economic measures, managing commercial and sustainability performance on intuition alone is not feasible. Data and digital technologies can support the industry in gaining the full facts needed to make decisions based on evidence, and test various compliance strategies. Digital tools are then essential to properly recording, documenting and showcasing compliance strategies and options.
“Success within the new IMO regulations depends on a willingness from all parties to work together to comply and decarbonize. Ship owners and operators will need to work with ship designers, bunker providers, charterers and more to understand how their operational profile will impact compliance. A unified, standardized and auditable data source isn’t just useful—it’s a commercial advantage.”
