Today voyage efficiency became not only a matter of fuel cost. Ocean pays back for the plastic pollution, sulfur oxide emissions
, and for the harm we did over the last decades.
Ocean produces above 60% of the oxygen that we breathe and flora inside appears to be sensitive to such a polution. But who actually cares unless your forest is not burning out or the wind becomes so strong that you start googling why?
15% of the worldwide sulfur oxide is made by vessels + CO2 + NOx + microparticles. and these are not emissions above the highway layer, this complex meal directly goes to the ocean for breakfast, lunch, and dinner. You should be familiar with the fact that these big vessels are powered with engines 25 meters in length and they are not fueled with green eco gasoline, they are fueled with sulfur fuel oil. 50 tonnes per day and 10 million litters per year is a normal burn rate for a commercial vessel.
A very small share of the vessels around the globe are eco-friendly. I won't mistake if I say below 15% worldwide. To upgrade such a vessel you need to pay, but who are these lucky guys that will cover the upgrade parade?
In the long term, it's us, through the cost of the end products on the shelves, through the taxes.
But if we go back to the fragmented structure of the market, it's the fleet owner as he owns the asset. But he won't pay - it's not efficient to change the engine, it's expensive. He never interacts with the client itself, there is a fleet manager for that. But he is not the owner, he only operates, so he is also a wrong person.
The cargo owner who pays the fuel check can say: we would like to hire your vessel only if you are at least not heavily dirty. And you will be surprised, last year they really did...
Because of the government regulations - ESG + Emission trading system + IMO
made it move that way in 2021. It's exactly what happens right now.