World News
Taiwan's Yang Ming Transport Meets IMO 2030 Target a Decade Early
Taiwanese shipping company Yang Ming Transport has joined the growing list of companies that say they have met their IMO 2030 obligations a decade early.
Yang Ming's carbon dioxide emissions per TEU-kilometre were 51% lower last year than in 2008, the company said last week. The International Maritime Organization's (IMO) target is for the shipping industry to cut carbon emissions by at least 40% by 2030.
"Yang Ming has formulated several long-term strategies, including implementing 12 vessel modification and optimization projects, and accelerating the vessel renewal plan by eliminating vessels over 20 years of age and adding ten 2,800 TEU class, twenty 14,000 TEU and fourteen 11,000 TEU class echo-friendly smart vessels," the company said.
"In addition, Yang Ming has cooperated with weather service provider Weathernews Inc. (WNI) to build a monitoring system to manage fuel consumption and reduce GHG emission, and further evaluate the possibility of developing duel-fuel engine such as LNG or other engines that can perform with carbon-neutral alternative fuels."
A series of companies including Maersk and Hapag-Lloyd have recently announced that they have already met the IMO 2030 requirement. This is partly a sign of good progress in shipping's decarbonisation agenda, but may also be taken as evidence that the targets set in the IMO's initial strategy should have been tougher.
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