Green Shipping: How sustainability in shipping has positive effects on profitability

Green Shipping: How sustainability in shipping has positive effects on profitability

January 2021 | Sustainability is important to the Vogemann shipping company. But the Green Deal  is not only based on ecological principles. To make the Green Ship Token a success, economic components are also required. In this case, these aspects complement each other perfectly, because in addition to ecological reasons, the fleet strategy is also the right decision commercially. 

Saving fuel saves emissions and money

The CO2 emissions of an ocean-going vessel depend – in addition to the CO2 content of the fuel used – exclusively on the fuel consumption of the ship. The ships put into service by Vogemann in recent years consume between 30 and 50% less fuel than “non-eco” ships.

Depending on the number of days at sea and the actual fuel costs, this results in

  • Fuel savings of more than 1000 tons AND
  • Fuel cost reductions of more than US$ 500,000xii AND
  • a reduction of CO2 emissions by more than 3000 tons

These are important key facts for more sustainability.

A lower speed reduces the emission of pollutants

For the calculation of the EEDI it is assumed that the main engine is operated with 75% of the maximum power and 14.2 knots speed as was usual in the years 2003 to 2008. 

However, Vogemann’s modern Handysizebulkers will operate in 2019/2020 with only 40% and 50% of the maximum main engine power and a speed of 12-12.5 knots. 

This reduces CO2 emissions by 46 to 50% compared to the reference value of 2008. A speed reduction to 10 knots can reduce CO2 emissions by more than 60%. 

Counteract rising costs with decreasing consumption values

Vogemann expects fuel prices to rise in the medium and long term. This is another aspect that will further increase the competitive advantages of “super eco” ships compared to conventional ships in the future.

Sustainability is rewarded: Low emission values become a bonus, high ones a malus

Vogemann already sees an increasing number of ports offering port cost reductions for low-emission ships such as the “Green Dolphin” cell phone size bulkers put into service by the shipping company. Conversely, there is another trend. It is foreseeable that ships with high emission levels will have to pay higher port costs in the future. They may not be allowed to call at certain ports. 

This part is ending our series “Environmental protection in shipping”. Read more about carbon emissions, greenhouse gases, sulfur emissions and ballast water

 

Do you want to benefit from a more environmentally friendly shipping industry in monetary terms as well? Click here for the Vogemann Green Ship Token.