Shipping decarbonisation transition is a massive effort, and the responsibility cannot fall on ship owners alone, in the opinion of Mr. Dimitris Patrikios, CEO of Kyklades Maritime Corporation. Mr. Patrikios noted that the energy transition represents a radical shift from existing mindsets, technologies, and practices, and opined that ship owners need to be compensated for the transition risk. The scale of the effort is massive, with estimates of the required effort ranging from USD1.65 to 3.4 trillion by 2050, and may result in a fragmented fuels market, with different types of clean fuels being deployed for different types of voyages.
Mr. Patrikios envisages that the decarbonisation effort will be best undertaken via an ecosystem of industry stakeholders that collaborate in projects that start small but can scale up fast once successful, all coordinated by incentives led by the IMO.
SHIPPING COMPANY TRANSFORMATION TO MEET NEW CHALLENGES AND OPPORTUNITIES
Delivered by: Mr. Dimitris Patrikios, CEO, Kyklades Maritime Corporation
Host: Costas Constantinou, Global Leader, Moore Maritime
The Singapore Shipping Forum 2021 is hosted annually by Moore Stephens, Singapore, is organized in conjunction with co-sponsor BNP Paribas, Singapore, and is supported by both the Institute of Chartered Shipbrokers and the Singapore Shipping Association. The event is part of the Singapore Maritime Week 2021, an event organised by the Maritime and Port Authority of Singapore (MPA), and was attended by more than 300 delegates.