ONE's Commitment to Sustainability

With temperatures rising on land as well as in the oceans, the need for sustainability and decarbonization to combat climate change has never been greater.

Slowing climate change begins with decarbonizing the energy sector and reducing greenhouse gas (GHG) emissions. By reducing our carbon footprint and investing in sustainable energy resources, we can mitigate the eects of adverse temperatures and contribute to a more sustainable future. We must, however, act now. It means creating policies which limit emissions, investing in renewable energy resources, and advocating for sustainable change at all levels, whether as an organization or an individual.

Since shipping contributes approximately 3% of worldwide GHG emissions, ONE places a high priority on setting up green strategies and investing in green technologies. As one of the front runners in decarbonizing shipping, ONE strives to achieve carbon neutrality by the year 2050. Our commitment to decarbonizing maritime transportation includes extensive collaboration with industry stakeholders and investments in greener shipping solutions.

Green Investments

For ONE, investing in green technologies and assets remains a strategic priority. In March, we announced an order for ten 13,700 TEU containers with modular green fuel designs. This newbuild order is a repeat of a similar commitment to that of last year. The vessels are expected to be delivered between 2025 and 2026.

They will be equipped with a bow cover and energy-effcient technologies, as well as being capable of being retrofitted for Methanol or Ammonia usage. Onboard carbon capture and storage is also being evaluated with both the shipyard and equipment manufacturers.

ONE is also conducting green fuel trials and investing in carbon capture technologies as part of our own longer term decarbonization strategy. We will also continue to support industry-wide collaboration on sustainability, best practices, technology and reporting standards. Through such entities as the Global Centre for Maritime Decarbonisation, World Shipping Council, International Chamber of Shipping and the Global Maritime Forum.

ONE’s new Eco Calculator, recently launched on our mobile and e-commerce platforms, is another investment we have made towards our net zero journey. Designed for customers and like-minded players looking for sustainable transport solutions and wishing to manage cargo emissions themselves, the Eco Calculator includes a variety of helpful features. Customers can receive an immediate and comprehensive insight into their carbon footprint routing options for ONE vessels, equipment, service loops, port-to-port, inland service, and well-to-wake (WTW) as well as tank-to-wake (TTW) measurements.

The ONE Eco Calculator utilizes industry-recognized methodology for inland and ocean-going transportation. ONE’s ocean-going carbon emissions data is verified by ClassNK using the Clean Cargo methodology. CO2 emissions from ocean-going transportation are calculated according to the Clean Cargo methodology while CO2 emissions from inland transportation are calculated according to the Global Logistics Emission Council (GLEC) Framework. More informa-tion about the Eco Calculator can be found here.

Decarbonization requires regulation

The International Maritime Organization (IMO) will hold its Maritime Environment Protection Committee (MEPC) 80th meeting in June this year, and it is hoped that these working sessions will lead to more long-term ambitious sustainability goals and fuel standard regulations. It is our objective as an industry to work with the key regulators such as the IMO.

To navigate the maritime energy transition, the World Shipping Council has identified six critical steps to help guide the IMO reach a comprehensive and definitive agreement at MEPC 80.

• Developing a global carbon price and “buy down” programs to equalize the playing field between modern greener ships and those still running on conventional fuels
• Having a transparent “well-to-wake” lifecycle analysis of fuels, combined with regulatory mechanisms to incentivize the adoption of alternative and renewable fuels
• Integrated development of global production and supply of zero-GHG fuels between IMO member states, energy providers and regulators to allow for flexibility in the initial stages of implementation.
• A Green Corridors Programme to accelerate equitable fuel and technology transition, introducing zero GHQ ships and fuels across trade lanes where necessary shoreside infrastructure is first available
• Setting newbuild standards that support the transition to greener fuels
• Applied R&D for both shipboard and shoreside systems to allow for the safe use of zero GHG fuels

Ammonia, methanol, and methane are all potential greener alternatives to today’s fuel oil. The availability and cost of such new fuels however remains a potential concern, as they are likely to be two to three times as expensive as current fuels. However, by purely leaving the investment decision to individual carriers and ordinary market forces, this could result in a much slower overall industry transition. The very effective industry transition to low sulphur fuels (IMO 2020) being a strong case in point.

It is therefore important that regulators now set a common carbon price and decide on common future fuel standards, accross the industry in a global and predictable manner.

Jeremy Nixon,
CEO, Ocean Network Express Pte. Ltd

Source: ONE

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