Future of shipping
The long-term goal for international shipping is to achieve net zero emissions by 2050 and to reduce ships’ carbon emissions per tonne-miles by at least 40 per cent by 2030. Stena has decided to play an active role in the transition, which will have a significant impact on shipping over the next ten years.
New climate and environmental requirements for shipping sets the ongoing agenda
New emission reduction ambitions from the International Maritime Organisation (IMO) and the extension of the Emissions Trading System (ETS) to shipping within the EU present challenges. Stena welcomes these decisions as they create greater clarity and facilitate prioritisation. The new regulations will affect Stena’s strategic and operational decisions, and the sustainability performance of the vessels will be a decisive competitive factor going forward.
Future fuels
In the next ten years, significant development in the fuel sector is expected, to meet the requirements in the new regulations. This is a transition characterised by great uncertainty for all players in the sector regarding investment in and choice of fuels, in terms of both the availability of fuels in the required volumes and the future competitiveness. For the transition to be successful, Stena believes that clear incentives and regulations are needed that cover all stakeholders, take a holistic approach to the issues and, not least, reward proactivity.
Stena is well-positioned to take a leadership role
Stena is an important global shipping player, with companies operating in various segments and with Stena Teknik as a leading knowledge and innovation centre. This means that Stena, with its capacity and knowledge, has good opportunities to influence future development.
Collaborations and partnerships strengthen Stena’s position
Through collaboration within the Stena Sphere and in partnership with customers and various stake-holders in society, Stena seeks to promote the transition to fossil-free fuels. To strengthen its competitiveness, during the year Stena launched a collaboration forum within the Stena Sphere for procurement and evaluation of alternative fuels. Stena has also become a member of the global Roundtable on Sustainable Biofuels (RSB), where players from different sectors of society collaborate to promote a sustainable transition.
Strong development of the hybrid vessels of the future
Stena’s operations are well in line with the requirements from the EU and IMO. Over the past ten years, Stena has made significant long-term investments in the development of hybrid vessels that can run on different fuels and are prepared for electric operation. Several of these vessels have already been delivered, as a strong competitive factor for customers, and have begun to generate good profitability. Stena continues to work on upgrading and developing existing vessels to increase their capacity and energy efficiency.