September 12, 2019
Energy transition in the maritime sector
Opportunities and challenges in the face of carbon and sulfur emission reduction
Seaborne trade accounts for 80% of global physical trade, 2% of global CO2 emissions and 13% of global sulfur emissions. In this context, the International Maritime Organization (IMO) imposed a reduction in sulfur concentration from 3.5% to 0.5% by 2020. Additionally, IMO set the goal to reduce greenhouse gas emissions in the sector by at least 50% by 2050, in comparison to the 2008 level.
CEBRI’s Infrastructure and Energy Program with the support of the Royal Norwegian Consulate in Rio de Janeiro organized an event on July 11th, 2019 to discuss the energy transition in the maritime sector. Catavento’s team was responsible for consolidating the discussions, with additional inputs from the literature, into a paper available here.
The paper describes the responses from the maritime sector in order to comply with IMO’s regulation in the short-term and how they might impact the energy sector. In this sense, the study also analyzes how Brazil is positioned to thrive in this environment. Finally, the potential paths of the maritime industry towards decarbonization are also detailed.
The opening remarks were delivered by Marianne Fosland – Norwegian Consul General in Rio de Janeiro -, followed by a brief context from Clarissa Lins, founding partner at Catavento.
Next, Jonas Mattos – Business Development Manager Maritime South America at DNV-GL -, Ricardo Cesar Fernandes – Country Manager at Associação Brasileira dos Armadores Noruegueses – Erik Ianssen – CEO at Selfa – presented the global perspective of the energy transition in the maritime sector.
Finally, the event benefitted from the views and perspectives of Claudia Sousa –Downstream Manager at Petrobras -, Letícia Villa-Forte – CEO at BP Prumo – and Ricardo Mendes – Head of Energy at Vale. The panelists debated challenges and opportunities in the Brazilian landscape arising from the maritime energy transition.