Friday, June 9, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home ships

Manifold Times | Wärtsilä and partners provide update on Zero Emission Energy

1 year ago
in ships
Manifold Times | Wärtsilä and partners provide update on Zero Emission Energy
Share on FacebookShare on Twitter


Maritime technology group Wärtsilä on Tuesday (8 February) published an interview with the Norwegian shipping group Grieg Star and Aker Solutions, a global engineering company, on their carbon-neutral shipping journey while being part of the Zero Emission Energy Distribution at Sea (ZEEDS) initiative.

Matt Duke, CEO, Grieg Maritime Group, and Kenneth Simonsen, senior vice president at Aker Solutions tell Atte Palomäki what the project has achieved and all about its future plans:

What is the ZEEDS initiative aiming to achieve?

Matt: We know that shipping is close to 2- 3% of the world’s carbon emissions, which is millions of tonnes of CO2 and it will take teamwork to achieve our goals. There are different industry actors that are invited in to try and solve this challenge together and find the solutions we need as an industry to deliver on our climate ambitions.

What does each player bring to the table?

Kenneth: Starting out, ZEEDS was all about finding the fastest route to zero-emission shipping. All the founding partners of the Wärtsilä initiative bring different things to the table, representing different angles and different skillsets. From an Aker Solutions perspective, we were able to see new solutions, use some new technologies and integrate them into a totality. That’s really what we as a supplier bring to the table.

Matt: Our role was to be a ship owner and a ship manager. In many ways, you could say we were sort of there to be the customer who needs to use this new type of fuel. So, I think we were there to evaluate the business viability of these ideas. As the project developed, Grieg has started to use our technology team and our vessel architects to design the sorts of ships that could be viable here. We’ve been using our business development, while even looking at the production and supply of green fuels.

Atte: We really appreciate how this partnership has given us all a completely new position in the value chain, where co-creating future solutions together is being done in a very effective way – both within the industry and together with governmental bodies. It’s given us completely new insights into the market needs and helped us focus on our research and development efforts. So, this really speeds up the new green solutions entering the market.

For a new clean energy supply ecosystem and ships operating on emission-free fuels, we need to scale up clean and green energy production. When will we see the first concrete results of the ZEEDs initiative?

Matt: We believe that there are huge possibilities with hydrogen and ammonia, but they aren’t actually fully tested yet as proven ship fuels. There are many aspects to solve this, but one of them is to be bold and try. Together with Wärtsilä, we’re designing the world’s first green-ammonia fuelled tank ship for ammonia transportation, where we use green ammonia both as a fuel, but also as the cargo. We’re planning on launching that ship in 2024 and we think that’s a concrete way to prove our ideas. We will show that it is a viable fuel.

One idea stemming from ZEEDs is this string of pearls of clean energy hubs to supply shipping with fuel, which could be a potential answer to a huge global problem. If it succeeds, it could possibly be a real game changer for the industry. How can this vision come to life?

Kenneth: There are several technology pieces that need to be tested at scale, including the production of ammonia, the relative costs of existing fuel types and the fact that the current vessel fleet is based on heavy oil. It will just require some time.  There will be a transition phase beyond technology and we will need to see the cost of hydrocarbons or emissions increasing to make it commercially viable.

How have so many different players pooled together without this leading to a ‘too many cooks’ scenario?

Matt: When the team is working together with ZEEDs, they feel like they are part of the same team working towards the same goal. They understand that different actors have different interests but at the end of the day, we’re all in it for the same reason, which is to try and make a difference to deliver on the purpose of accelerating the journey to zero emissions. That in itself is a very, very powerful thing to get people to work well together.

What is the right balance of responsibility between companies and policymakers in public-private partnerships?

Kenneth: I think private companies, both small and large, will be part of the solution. We have so many strong engineers and operators across these companies and they will be part of the solution. But we need to strike a balance between the authorities and the private sector. As an example, one of the institutions providing funds to the ZEEDS initiative was indeed the Nordic Council. That’s because we have companies involved representing all of the Nordic countries spearheading technologies here. Therefore, this is a super exciting balance between companies and authorities.

Other partners in the ZEEDS project include a global engineering company, Equinor, a multinational energy company, DFDS and Kværner, a leading engineering, procurement and construction company.

 

Photo credit and source: Wärtsilä Corporation
Published: 9 February, 2022



www.manifoldtimes.com

Latest Oil News

Ship stuck in Egypt’s Suez Canal but traffic unaffected

Ship stuck in Egypt’s Suez Canal but traffic unaffected

February 1, 2023
IMO Updates Guidelines on Noise Pollution, But no Mandatory Rules for the Arctic

IMO Updates Guidelines on Noise Pollution, But no Mandatory Rules for the Arctic

January 31, 2023
A tiny Spanish port has become a new hub for Russian oil

A tiny Spanish port has become a new hub for Russian oil

January 30, 2023
Musandam, Oman’s gateway to open seas | Times of Oman

Musandam, Oman’s gateway to open seas | Times of Oman

January 29, 2023
Tags: EmissionEnergyManifoldpartnersProvideTimesupdateWärtsilä
Previous Post

Locked down afloat: why dozens of cruise ships ended up stranded in Manila Bay |

Next Post

MIDAS SHARE TIPS: As energy giants cash in, should you too?

Related Posts

Ship stuck in Egypt’s Suez Canal but traffic unaffected

Ship stuck in Egypt’s Suez Canal but traffic unaffected

by Oil Market News
February 1, 2023
0

A ship on Wednesday became stuck in Egypt's Suez Canal but traffic through the vital waterway was unaffected, a source...

IMO Updates Guidelines on Noise Pollution, But no Mandatory Rules for the Arctic

IMO Updates Guidelines on Noise Pollution, But no Mandatory Rules for the Arctic

by Oil Market News
January 31, 2023
0

According to the Arctic Council’s working group for the Protection of the Arctic Marine Environment (PAME), the amount of traffic...

A tiny Spanish port has become a new hub for Russian oil

A tiny Spanish port has become a new hub for Russian oil

by Oil Market News
January 30, 2023
0

Crew members transfer oil from one tanker to another.Photo: Sergei Karpukhin (Reuters)Ceuta, a tiny Spanish enclave at the tip of...

Musandam, Oman’s gateway to open seas | Times of Oman

Musandam, Oman’s gateway to open seas | Times of Oman

by Oil Market News
January 29, 2023
0

Muscat: The Governorate of Musandam, with its four wilayats: "Khasab, Bukha, Madha and Dibba", is a tourist area par excellence,...

‘It plays in my head every single day’: Survivor recounts Sentosa cable car accident,

‘It plays in my head every single day’: Survivor recounts Sentosa cable car accident,

by Oil Market News
January 28, 2023
0

The commission of inquiry investigating the accident found that of all the contributory causes of the accident, the failure of...

Embracing the Digital Logbook Revolution

Embracing the Digital Logbook Revolution

by Oil Market News
January 27, 2023
0

Pierre Domine, Quality Assurance & Investigation Specialist, Stolt Tankers Published Jan 27, 2023 5:01 PM by The Maritime Executive In...

Next Post
MIDAS SHARE TIPS: As energy giants cash in, should you too?

MIDAS SHARE TIPS: As energy giants cash in, should you too?

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

OPEC Fund raises $1 billion via sustainability bond

OPEC Fund raises $1 billion via sustainability bond

5 months ago
National Oil Companies Slash Exploration Budgets As Low Price Bites

National Oil Companies Slash Exploration Budgets As Low Price Bites

1 year ago
US shale industry braces for wave of bankruptcies

US shale industry braces for wave of bankruptcies

1 year ago
Euro hits lowest level in two decades as gas prices soar

Euro hits lowest level in two decades as gas prices soar

10 months ago
Extract more local gas, explore solar power: Experts

Extract more local gas, explore solar power: Experts

10 months ago
ADVERTISEMENT
UK set to introduce floor for oil and gas windfall tax

UK set to introduce floor for oil and gas windfall tax

June 9, 2023

Canadian refiner Irving Oil explores options including sale

June 8, 2023

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

Opec bans prominent media groups from Vienna meeting

June 4, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

UK set to introduce floor for oil and gas windfall tax

UK set to introduce floor for oil and gas windfall tax

June 9, 2023
Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023
UK watchdog bans Shell, Repsol and Petronas greenwashing ads

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023
Opec+ is not on board with Saudi’s ‘whatever it takes’ message

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.