Greece,Athens
5-7 November 2024
[Greece,Athens], [5-7 November 2024] –Teamhead continued its commitment to sustainability and innovation in the maritime industry by attending the 2024 IBIA (International Bunker Industry Association) Convention in Europe. The event, which brought together industry leaders, experts, and stakeholders from around the world, was centered on decarbonization and collaboration – key themes that resonate with Teamhead’s mission to drive forward the future of marine services in a carbon-conscious world.
Key Highlights from the IBIA Convention:
1. Decarbonization as the Central Theme
The maritime industry is one of the largest carbon emitters globally, and the IBIA convention placed a strong focus on decarbonization efforts as an urgent and critical area.Key topics included:
- Alternative Fuels: Discussions centered around the shift from traditional marine fuels (such as heavy fuel oil) to greener alternatives like LNG, biofuels, ammonia, and hydrogen.
- Zero-Emission Vessels: Industry leaders showcased the latest innovations and pilot projects for zero-emission vessels, which could revolutionize the shipping sector in the coming decades.
- Carbon Capture Technologies: The event featured discussions on carbon capture and storage (CCS) technologies, which are being explored as part of the maritime industry’s strategy to meet decarbonization targets.
- Regulatory Developments: With the International Maritime Organization (IMO) tightening its environmental regulations, stakeholders discussed how new rules, such as the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII), will impact the bunker and shipping industries.
- Decarbonisation and digitalisation were often discussed at the same time, with these two themes now recognised as symbiotic and needing to be addressed simultaneously.
2. Collaboration as the Key Buzzword
The spirit of cooperation and shared expertise was great throughout the event, with IBIA’s commitment to facilitating dialogue across the entire maritime and energy ecosystem further solidified. As delegates return to their respective corners of the globe, it’s clear that the collaboration seen in Athens will be essential in navigating the coming years.
3. Challenges in Decarbonizing the Shipping Industry
Discussions around the sidelines of the event were largely focused on decarbonisation, with this theme now becoming much more of a reality than a theoretical topic as European regulations start to charge the shipping industry for its carbon emissions.
The main concern is that supply will not keep up with this growing demand. Other industries – chiefly aviation – are increasingly keen to get their hands on limited biofuel supplies, and the shipping and bunker industries will need to become more creative in seeing which less popular bio feedstocks can be blended into marine fuels while remaining safe and working correctly in marine engines.
The main event started on the morning after the US elections, and while the US ambassador’s speech steered clear of a detailed analysis of the new administration’s impact on shipping and bunkering, convention delegates took a keen interest in the topic in their discussions. The main concern was over the potential impact of tariffs on demand for shipping, while views differed on whether the effect of a change in foreign policy on the wars in Ukraine and the Middle East would be likely to be positive or negative for the industry.
“It was an inspiring event where we exchanged ideas, learned from others, and reaffirmed our commitment to decarbonizing the maritime industry,” said Huang, Teamhead’s founder. “We are more determined than ever to play an active role in the transition towards a low-carbon maritime industry and to support our clients in navigating the complexities of this shift.”
Stay tuned for the next IBIA Annual Convention, as we continue to work together to shape the future of maritime fuels and decarbonisation. See you soon!
See IBIA Annual Convention 2024 After Movie:
