The International Maritime Organization (IMO) is soon to meet for MEPC 83 to discuss the collection of measures that will ultimately drive the industry’s decarbonization efforts over the coming years.

This meeting represents a critical juncture for shipping and will likely dictate the direction of travel that may secure the industry’s net-zero future. Amidst the mid-term measures that are due to be announced, is the introduction of a codified global carbon levy which would operate as a flat tax on the industry’s carbon emissions in an attempt to unlock the significant financial investment required to establish and develop the required green infrastructure. 
Meanwhile, newly introduced regional regulations – such as the EU’s Emission Trading System (ETS) and FuelEU Maritime (FEUM) – are considered to have made an initial positive impact on prompting owners and operators to engage with integrating operational efficiencies and clean technology. However, layer upon layer of fragmented carbon taxes is not enough to accelerate the industry’s transition to more sustainable practices. 
Despite the adoption of low-carbon fuel technology being widely regarded as the preeminent means by which the maritime industry will achieve its net zero targets by 2050, the development of low-carbon fuels at scale faces significant challenges. The current demand for low-carbon fuels greatly outweighs supply, which is combined with a lack of sufficient onshore infrastructure to generate the requisite electricity to develop green hydrogen, ammonia and methanol. Moreover, the significant risk profiles that certain fuel types bring with them when it comes to the safe implementation and handling by crew members, not to mention the significant CAPEX implications for both retrofit and newbuild projects to ensure that vessels are equipped to incorporate low-carbon fuels into their operations, has led to a “wait and see” attitude within the industry. 
As a global leader in testing, inspection, and certification, Bureau Veritas (BV) plays a leading role in supporting the development of viable alternative fuels, as well as clean technologies, and has been instrumental in the development of rules, guidelines and notations to support the safe integration of new fuel technologies. 
One of the contenders as a viable alternative fuel is green hydrogen, which – if available at scale – has the potential to decarbonize a range of operations for different types of ships, from navigation to auxiliary power. BV has a long history of developing Rules for gas-fuelled ships, having pioneered solutions for the transportation of liquified natural gas (LNG) as a fuel in shipping, and in 2023, BV published NR 678 Rules for hydrogen-fuelled ships, which provides requirements for the arrangement, installation, control and monitoring of machinery, equipment and systems using hydrogen as fuel, or for power generation. 
More recently, BV has partnered with Rux Energy as part of a Joint Development Project (JDP) which brings together approximately 30 global experts across France, Australia, Singapore, and the UK to address critical safety and hazard challenges related to hydrogen storage and transport. 
The project is designed to facilitate the transition to green hydrogen, emphasizing safety improvements supported by Rux’s proprietary nanoporous advanced physisorption materials. These materials enable cost-effective, efficient, and safer green hydrogen storage solutions for applications in ships, trucks, trains, and planes. 
The key objectives of the JDP are to significantly reduce hydrogen supply chain costs, improve storage efficiency at production sites, while cutting the costs of bulk transport and distribution. The project also focuses on supporting agile refuelling, bunkering, and shoreside power operations in intermodal and port hubs and to stimulate local supply chain development.
Achieving the maritime industry’s decarbonization objectives will not happen in isolation. In order to develop the technology and infrastructure required to bring about such a seismic change, unprecedented levels of cooperation and collaboration is required in order to effect meaningful carbon reductions within the global supply chain. 
In acknowledgement of this challenge, BV recently launched their Future Shipping Team (FST), a group of 250 experts from across BV’s group that brings together professionals from within and outside the maritime sector around 12 workstreams, ranging from new fuels and technologies to life-cycle assessment of renewable energy sources, traceability and evaluation of ESG progress. 
The ultimate goal of the FST is to foster an enhanced dialogue with new stakeholders such as financial institutions and energy suppliers, and in so doing, breaking silos and enhancing knowledge-sharing between maritime and land-based industries that will be instrumental to the success of the global energy transition.
* Senior Vice President Marine & Offshore Division, East Europe, Mediterranean Sea, Middle East, India & Africa (EMA) Zone Bureau Veritas