Energy efficiency: totally worth it
03.02.2021
With a little careful planning, you can adopt some surprisingly effective energy-efficiency measures for your newbuilds, saving a lot of money in the long run, while also greening up operations.
New regulatory guidelines in recent years have progressed innovations in marine technology. Both vessel and equipment manufacturers alike have introduced solutions that answer the call of the IMO and EEDI (Energy Efficiency Design Index for new ships) to decrease energy consumption and emissions.
Additionally, organisations such as the Danish-born Green Ship of the Future (GSF) are promoting the idea that emission-free maritime transport is an achievable near future for the industry, and financially sustainable, through the use of both existing, energy-efficient technology and also R&D into new digital technologies.
When they hear the word regulation, people inevitably start wondering what it’s going to cost to fall in line. It’s important, however, to understand that, in this case, green initiatives can actually create powerful opportunities for savings, while also protecting the environment. That’s because when it comes to regulatory changes in the marine industry, a lot of the impact falls onto fuel consumption. Fuel is the most expensive component of the maritime business model, representing up to 60-70% of total ship operating costs in times when fuel prices are higher.
That means that an investment in energy-saving solutions can actually help shipowners improve their bottom line by lowering fuel consumption annually. As the American author and commentator Bill Vaughan mused, “improving efficiency is not only a risk-reduction strategy, it's a profitability strategy.”
