Amsterdam-based clean fuel supplier Titan and independent blockchain-based carbon embedding platform 123Carbon have provided the container shipping market with the first liquefied natural gas (LNG) carbon embeddings.
Titan,123Carbon and consulting firm AllChiefs for bio-LNG ship operators to develop a customized approach, designed to ensure the entire value chain of transparency and integrity, as more and more LNG-powered ships into service, carriers through the platform and the global value chain of freight forwarders and shippers to share the use of LNG operating ships carbon emission reduction benefits, to achieve measurable and verifiable decarbonization.
According to Sea-web's data report, there are currently nearly 2.5 million TEUs of LNG ships in container transportation orders, accounting for 32.7 per cent. Titan Zero Carbon director Caspar Gooren said embedding the product would enable the market to offer a better price for carbon reductions and enable shipowners to expand their investment in environmentally friendly ships, although he did not give shippers and freight forwarders any indication of the cost of LNG embedding.
Gooren added that embedding can be an effective means of accelerating the shipping energy transition, which is currently hampered by price levels; fossil fuels are still cheaper than renewable fuels.
the price gap between fossil fuels and sustainable alternatives is too large to attract investment in green fuel production and infrastructure. In the past few years, shipowners have strongly supported economic measures in the form of a carbon tax to create a multi-billion dollar global fund aimed at narrowing cost differentials.
Maersk said a carbon tax of at least $150 per tonne of CO2 was needed to balance costs and stimulate demand. Earlier this year, Hapag-Lloyd launched a "booking and claims" service called "Green Ships" and built on the use of biofuels in its ships. However, Hapag-Lloyd CEO Rolf Habben Jansen said the success of biofuel services has been limited.
Earlier this month, the company and Hapag-Lloyd signed an emissions reduction agreement, under which the freight forwarding company will use "at least" 1000 tons of waste and residue-based biofuels on Hapag-Lloyd's ships to transport its customers' containers.
In March this year, 17 European shippers and freight forwarders joined the Port of Rotterdam Authority and Decarbonization Drive GoodShipping launched the "Shift to Zero" campaign to encourage European shippers to use sustainable fuels to transport goods by sea.
freight forwarding network