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Project to demonstrate financial drivers for energy efficiency

A £1.8 million Vessel Technology Assessment System (VTAS) project has been established in the UK, which aims to quantify the financial benefits of investing in fuel efficient technologies for existing and future vessels to assist in accelerating their deployment across the maritime industry.

{mprestriction ids="1,2"}The project will be led by BMT and delivered in partnership with Black & Veatch, having been commissioned and funded by the Energy Technologies Institute (ETI).

“Maritime transport emits around 1,000 million tonnes of CO2 annually and is responsible for about 3 per cent of global greenhouse gas emissions,” said David Butler, project manager for HDV marine efficiency at the ETI.

“Furthermore, the International Maritime Organisation states that emissions could rise by 50 – 250 per cent by 2050 compared to 2011 levels. Therefore, the efficient use of fuel through the implementation of energy saving devices (ESDs) will be critical to the future affordability, security and sustainability of maritime transport.”

The project will look to create independent, transparent information to support decision makers who can positively influence commercial shipping to reduce fuel consumption.

Initially, work will focus on addressing perceived barriers to the adoption of ESDs, providing data driven technical models of individual ships, and performing financial modelling to help demonstrate the CAPEX and operational impacts of these technologies.  

“There is a choice of ESDs within the commercial shipping market such as Flettner rotors, high efficiency propellers and wingsail technologies and yet the uptake to date has been somewhat slow, due to the perceived technical and financial risks of implementing these technologies,” said John Buckingham at BMT.

“Through improved ship-based modelling, assessments and data validation, this project will allow us to explore the options and provide independent evidence that stakeholders can trust to make an informed decision.”{/mprestriction}

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