A team from the Vessel Technology Assessment System (VTAS) project is inviting shippers to have their views heard to improve fuel efficiency in maritime shipping. Reduced fuel consumption and emissions should see shippers benefiting from a reduction in shipping costs, improved supply chain carbon footprints, and a good reputation.
More and more, shippers are demonstrating their desire to achieve a more sustainable shipping industry. Recent developments at the IMO, with the 2050 targets, demonstrate the determination of maritime shipping to meet a growing expectation that they contribute to efforts to reduce global carbon emissions. These ambitions will only be realised with more alignment and transparency throughout commercial shipping.
The Vessel Technology Assessment System (VTAS) project has been commissioned and funded by the Energy Technologies Institute (ETI) and will be delivered by a partnership of BMT and Black & Veatch. The primary objective is to assist the maritime shipping Industry to understand and confidently quantify the benefits of investing in fuel-efficient technologies for existing and future vessels, thus accelerating the deployment of viable fuel-efficient technologies.
Investment complications due to the conflicting interests of charterers and owners are well known. It is also clear that there is a lack of trust in the data and analysis provided by developers of energy saving technologies. The industry is seeking the independent analysis and transparency that allows sensible investment decisions with shared risk strategies.
The VTAS project aims to remove the obstacles to making sensible investment decisions around energy saving technologies. The project will run for 12 months. By offering tools and, independent technical and financial support, the team will enable confident predictions of short-term and lifetime return on investment figures. It is clear, however, that successfully implemented solutions in this area will very much depend on aligning the players and motivators within commercial marine.
Shippers are key motivators of maritime shipping companies. Fuel reduction is a financial benefit to all but we must not forget the growing importance to our customers of demonstrating an environmental pedigree. The project team are looking for input and support from shippers; have your say, see the researchm and drive the future adoption of energy saving technologies.
To find out more and be involved, please leave your contact details, subject ESC, and we will be in touch: https://fuelefficientshipping.com/Main#contact