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As we work towards cleaner energy in the shipping industry, improving energy efficiency on ships is becoming more important than ever. Switching to zero-emission fuels like hydrogen and ammonia is a big challenge because these fuels are currently much more expensive than traditional bunker fuel - sometimes three to four times more costly. This price gap makes it tough for shipowners to adopt these greener options.
One practical way to address this issue is by reducing the overall fuel consumption of ships. By using less fuel, shipowners can better handle the higher costs of green fuels, making the transition more affordable. Energy efficiency measures also help meet stricter environmental regulations, like the IMO's 2030 and 2050 targets, which aim for significant reductions in emissions.
An added benefit is that energy-efficiency technologies are fuel-agnostic. They provide savings whether a ship runs on conventional fuel or new green alternatives. This makes them a smart investment for the future. Plus, they aren't reliant on subsidies, so they offer a sustainable path forward regardless of market changes.
At Pascal Technologies, we specialize in air lubrication systems (ALS). This technology reduces friction between the ship's hull and the water by creating a layer of air bubbles, leading to less fuel consumption. Importantly, ALS doesn't take up valuable deck space since the equipment is installed below deck. It can also be retrofitted on existing ships, making it a flexible and cost-effective option. At Pascal, we are optimizing our analytical tools and control systems to make sure the systems are giving the best returns in different operating conditions and sea states. We are hardware agnostic and can work with any yard and hardware partner.
According to Clarksons Research as of July 2024, energy-saving technologies have been fitted on over 8,713 ships, accounting for 33.5% of the global fleet tonnage. This includes technologies like propeller ducts, rudder bulbs, Flettner rotors, wind kites, and air lubrication systems. Specifically, more than 493 ships are equipped with air lubrication systems, and over 116 units involve wind assistance in the fleet and orderbook as of July 2024. This shows a strongly growing trend in the adoption of these technologies, where specifically the number of ALS installations are more than doubling every two years now.
Energy-efficient ships are more attractive to customers and charterers who prioritize sustainability and cost savings. Shipowners who invest in these technologies can offer more competitive rates and appeal to clients who care about the environment. This not only improves their market position but also aligns with the global move towards greener supply chains.
It's not just about air lubrication. Wind-assisted propulsion technologies, like sails and rotor sails, offer similar advantages. Like ALS, wind propulsion is fuel-agnostic and can be used alongside other technologies to further reduce fuel consumption. We can expect to see rapid growth and implementation of both air lubrication systems and wind-assisted propulsion in shipping.
Reducing energy consumption is always a smart choice, no matter which fuel powers the future of shipping. By investing in energy-efficiency technologies, we make shipping more sustainable and economically viable.
By Carl Rehn, CEO at Pascal Technologies - a company dedicated to advancing energy-efficiency solutions in the maritime industry.