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There are currently over 60 recognised technologies and measures that have a recognised capacity to reduce fuel burn, and therefore carbon and other emissions from ships. These vary in terms of market readiness and commercial viability, but many are already widely used. Yet, arguably – given the huge scope for “profitable” efficiency measures – shipping has only touched the surface in terms of what efficiencies can be achieved.

To fast-forward clean technology in international shipping; R&D and innovation need to be encouraged and financed. Despite the huge savings potential and relatively short payback periods of many technologies and measures, many providers lack the funding to transition their product to being “market ready”, while other technologies – such as Waste Heat Recovery (10% average fuel saving) are currently limited to fitting at newbuild stage.

Shipyards, including retrofit yards, are a key efficiency technology provider – and yards can also present themselves as leaders in creating efficient vessels.