The Green Shipping Conclave at the International Maritime Conference and Exhibition (INMARCO), hosted by the Institute of Marine Engineers (India), brought industry leaders from across the overall shipping value chain together to discuss potential solutions for the Indian domestic shipping sector to achieve a 5% uptake in alternative fuels by 2030.
The expert panel discussions cast light on key issues through stakeholder feedback on the potential methods of achieving the target, as well as the challenges and opportunities which lie ahead. Four macro-level themes for policy development were identified from the discussions:
- Theme 1: Establish the baseline and aggregate demand
- Theme 2: Collaboration beyond the localised supply chain
- Theme 3: Unlock access to de-risked funding
- Theme 4: Accelerate green technology
This report explores specific solutions and action pathways within each theme, demonstrating the potential for effective policy to penetrate deeply within individual issues and widely across multiple occurrences in order to overcome key challenges. Top priority action areas were highlighted on the basis of the identified themes and solutions:
- Establish a Public-Private Partnership funding scheme to enhance access to affordable transition finance.
- Set clear domestic shipping targets with anticipated trajectories to focus effort in specific locations, timeframes and with common resources.
- Consolidate industry associations and establish yearly Green Shipping Conclaves to enhance interactions on green corridors and partnerships between government and private sector to resolve shore power constraints.
- Develop Indian maritime technology capability to be a global leader by engaging with advance technology experts and leveraging production and design capacity in India.