How Do You Prepare for Sustainable Shipping in 2021?

1. How Do You Prepare for Sustainable Shipping in 2021 Do you want to invest in a new ship after the global supply chain has recovered in 2021? To know the latest market trends, you must consult with one of the experienced ship broker companies in Norway. Tracking the forecasts and predictions, only shipbrokers can guide you in the right direction and help you with smart decision making. While you are concerned with ROI, are you aware of sustainability trends that will grow in 2021? As per the IMO regulations, ship owners will have to adjust their ship operations to lower carbon emissions by not less than 40% by the year 2030 when compared to 2008. So, if you are eyeing long-term profits, then you should invest in a ship that can support sustainability measures. Intrigued to know more? Keep reading to learn more. Shore-to-ship power –Also known as the ‘alternative marine power’, shore-to-ship power is a process of power transfer in which a ship is plugged to an electricity grid generated by renewable energy sources like tides, solar or wind on the shore. This use of the regional electricity grid can help improve air quality by reducing onsite emissions to a great extent. Based on the location, carriers can have the option to use shore power and thus contribute to zero onsite or overall emissions. Low-sulphur fuels – As per the new norms by the IMO, ships should use fuels that have lesser than 0.5% of sulphur oxide. That is because sulphur emissions have led to premature deaths and an overall degradation in the marine environment. As a result, several ship operators are now switching to Very Low Sulphur Fuel Oil (VLSFO) for adapting sustainable shipping practices. Also, thanks to

2. the Covid-19 pandemic that the VLSFO prices have gone down that encourage many ship owners to take this alternative route. Retrofitting existent ships– Investing in the electric or hybrid vessel should be your first choice, but if that seems unfeasible for one reason for another, you should consider retrofitting existing ships. According to BMC Energy, retrofitting your old carriers with the new technologies can bring down the carbon emissions. Initial investments may be high, but that will keep your ships competitive against sustainable designs. You must talk to one of the ship broker companies in Norway to understand the ROI calculations and decide accordingly. Increased digitalisation – The global pandemic has pushed the shipping industry to embrace digital trends? Why is that so, you ask? Well, interactions and transactions powered by digital technologies can promote physical distancing and control the spread of Covid-19. It does not end here, for digitalisation helps you save money & time and reduces dependence on paper. It is worth noting that Digital Container Shipping Association (DCSA), endeavours to promote the use of e-bill of lading in shipping transactions to curb the use of paper. Final Thoughts – The blending of two of the greatest crises – Climate change and Covid-19 – has accelerated the shipping industry to go both sustainable and digital. Are you ready to take the challenge and embrace such major changes? Given the tumultuous condition of the market, you must consult with any of the reliable ship broker companies in Norway to make the right investment decision. Do you want to talk to an expert team at the earliest? Norwegian Ship Sales is just one call away. To book a consultation, you may call on +47 6754 1925 / +47 9177 6183. Resource: Sustainable-Shipping https://sites.google.com/view/norwegianshipsales/blog/Do-You-Prepare-for- --------------------------------------- Norwegian Ship Sales Rådmann Halmrasts vei 18, 1337 Sandvika, Norway Website: www.norshipsale.com Email: info@norshipsale.no Phone: +47 6754 1925 / +47 9177 6183 Follow us on: Facebook Twitter