The Global Centre for Maritime Decarbonisation (GCMD) and the International Association of Dry Cargo Shipowners (INTERCARGO) have announced a two-year partnership to accelerate decarbonisation efforts in the dry bulk shipping sector.
Dry bulk is the largest shipping segment globally in terms of tonnage and poses distinct decarbonisation challenges, especially for small and medium-sized owners engaged in unpredictable tramp trades.
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The collaboration aims to leverage GCMD’s technical expertise and INTERCARGO’s extensive member network and engagement with the International Maritime Organisation (IMO), aiming to address significant adoption and operational gaps.
It aims to promote the adoption of energy efficiency technologies (EETs) and facilitate knowledge exchange on low- and zero-carbon-fuelled vessels.
Bulk carriers, accounting for 42.7% of the global oceangoing fleet by deadweight tonnage, are essential to international trade.
The unpredictable routes of ‘tramp’ trade in the dry bulk sector make it difficult for shipowners to plan for bunkering at ports with zero- or near-zero-emission (ZNZ) fuels.
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By GlobalDataWith global bunkering infrastructure still under development, immediate solutions such as onboard carbon capture systems and EETs are required to meet the IMO’s decarbonisation targets.
GCMD is conducting pilots and trials to encourage the adoption of these solutions.
The partnership with INTERCARGO is expected to advance the deployment of these solutions throughout the industry.
GCMD CEO Lynn Loo said: “This partnership offers a valuable opportunity to deepen our understanding of the dry bulk segment’s operational realities and work collaboratively to address gaps in meeting the industry’s decarbonisation targets.
“Through INTERCARGO’s consultative status at IMO, we hope to contribute to the development of global regulatory frameworks for maritime decarbonisation.”
Shipowners often encounter obstacles when implementing EETs, such as uncertainty around fuel savings and limited access to financing.
GCMD is addressing these issues by installing sensors on vessels to validate fuel savings, which will support a Pay-As-You-Save (PAYS) financing model.
This model, under development by GCMD, aims to link repayments to verified fuel savings, thereby accelerating EET uptake.
INTERCARGO technical committee chairman Dimitris Monioudis said: “This partnership helps ensure practical, scalable technologies reach the companies moving most of the world’s essential cargoes.
“By combining GCMD’s strength in executing first-of-a-kind pilots with our members’ operational expertise and consultative status at the IMO, we can accelerate progress towards the industry’s decarbonisation targets.”
This initiative follows a similar collaboration between GCMD and Hanwha Ocean, which began in October last year, focusing on alternative fuels, energy efficiency, and carbon capture solutions.
