Abstract
The global maritime industry faces a significant challenge: reducing greenhouse gas (GHG) emissions to meet international climate goals while maintaining the cost-effectiveness of sea transport. The International Maritime Organization (IMO), the primary regulator for international shipping, has set ambitious targets and established an implementation framework to reduce the carbon intensity of shipboard emissions, paving the way for a decarbonized future. National and regional initiatives also play a major role in GHG reduction through emission reduction targets, incentive schemes, and market-based measures (MBMs).
This session will provide insights into the multifaceted regulatory pressure on the maritime industry driven by the combined force of existing regulations, evolving policies, and regional initiatives to achieve decarbonization.
An estimated two-thirds of the projected 2050 GHG emissions reduction from shipping is expected to come from renewable and low-carbon fuels. However, their adoption remains a challenge in a hard-to-abate sector like shipping due to higher investment and operational costs. Onboard Carbon Capture (OCC) offers potential for reducing emissions from existing vessels while alternative fuel solutions mature and scale up. However, for OCC to make a significant impact, its growth needs to accelerate dramatically, with a substantial increase in projects worldwide. Additionally, for offsetting emissions through OCC to be effective, operators must ensure that the captured CO2 quantity aligns with the transported and stored amount, with no escapes. Therefore, suppliers and operators require a comprehensive Carbon Capture, Utilization, and Storage (CCUS) solution that streamlines operations along the entire value chain and guarantees end-to-end traceability.
This session will also provide an overview of the CCUS value chain and discuss various OCC technologies, along with considerations for storage and offloading.
About the Speaker
Ashish brings over 15 years of experience in developing technology-driven marine projects across Southeast Asia and the Pacific. Currently, as Assistant Director and Sustainability Leader at Bureau Veritas Marine & Offshore, he spearheads strategic initiatives for the region’s sustainability and energy transition for maritime and adjoining sectors. Ashish leads projects and partnerships through BV’s iCARE Center of Excellence (COE) and Future Shipping Team. He is a passionate and results-oriented leader, combining his expertise in business development, technical leadership, and project management. Ashish actively represents the organisation in various trade associations and industry coalitions. He is also convening the Work Group developing Singapore’s National Standard for LNG bunkering, a testament to his commitment to shaping a sustainable maritime industry. Mr.Ashish holds a master’s degree in technology management from the National University of Singapore and a bachelor’s degree in mechanical engineering from Nanyang Technological University.