The bunker industry will play its part in decarbonising the shipping industry, but all industry stakeholders must stand together for decarbonisation to work, according to Bunker Holding CEO Keld Demant.
Demant added his voice to a joint statement issued at COP28 by thirty leaders in the shipping space who are committed to scaling up the production of zero-emissions fuel derived from renewables-based hydrogen.
In his contribution, Demant called for pricing incentives to stimulate the demand and supply of zero or near-zero emission fuels.
"As the world's largest bunker supplier, Bunker Holding Group fully supports the International Maritime Organization's GHG Strategy for decarbonizing the shipping industry," Demant said.
"We contribute by partnering with alternative fuel producers, and handle trades and logistics related to the last mile delivery.
"To succeed, all industry stakeholders along the value chain need to stand together."
Demand continued: "To stimulate the demand and supply of zero or near-zero fuels, the IMO should adopt pricing incentives as well as requirements for alternative fuels.
"Regulatory insurance is a prerequisite for the necessary investment in production, infrastructure, and new vessels."
Other signatories to the statement which was made under the auspices of United Nations Framework Convention on Climate Change Climate Champions initiative and Rocky Mountain Institute include Mitsui O.S.K Line chief executive Takeshi Hashimoto, global head of fuel decarbonisation for Trafigura Rasmus Bach Nielsen and Uwe Lauber, chief executive of MAN Energy Solutions.