Transformation of the 100-Year Old Business ModelTransforming the shipping industry which has run on relatively cheap, heavy fuel for 100 years is not an easy task. In addition to new ship designs and engine types, there is a need for new types of fuel as well as building entire new supply chains for these new solutions, Maersk insists.“All of this breakthrough innovation will have to take place in the 2020s and is more than any single company can do,” the company adds.As a result, the shipping major urges all parties involved to collaborate on incentives and development of innovative solutions to usher in the age of zero-carbon vessels.“We want to begin a dialogue with cargo owners, regulators, researchers, investors and technology developers, and together set the foundation for a sustainable industry,” Maersk said, pointing out that research and development will be the cornerstone in decarbonizing the shipping industry.The Pursuit of Solutions Must Begin NowZero-emission, commercially-viable vessels must be on the water by 2030, Maersk believes, especially due to the 20-25-year lifetime of a vessel.“This should be followed by an initial slow ramping up, allowing maturing of technology and supply chain in order to be able to turn around our entire fleet for net-zero carbon emissions in 2050. This leaves us and the industry only eleven years to find the right solutions for a positive business case for decarbonization.“For the next few years, it is very important not to rule out any solutions. There are several promising technologies at various stages of development. All solutions will come with benefits and challenges to be overcome and only by actively partnering, collaborating and undertaking research and development will we know which ones will win out. There are several technologies and fuels being developed these years within the areas such as advanced biofuels and hydrogen-based fuels.”Maersk said that it has already engaged in research and test programs in some of these technologies, for example sustainable biofuels.“Over the coming years, we will expand the range of solutions we are investigating. This will prepare us for selecting a few candidates we will pursue for the first carbon-neutral vessels.” Our 2030 efficiency target is strong enough to ensure that we continue to decouple CO2 emission levels from growth in trade and volumes shipped. With this target, we will not exacerbate our contribution to climate change while we grow our business, serve global trade and support job creation.” zoomImage Courtesy: Maersk At the end of last year, the world’s largest shipping company Maersk revealed plans on becoming a carbon neutral company by 2050.The efforts are in line with the shipping industry’s push to halve its carbon footprint by 2050 compared to 2008.“We do not by net-zero refer to off-setting CO2 emissions from fossil fuels. By committing to this target, we believe we will drive the transformation of the shipping industry towards use of carbon-neutral fuels,” the company said in its sustainability report for 2018.Maersk believes that efficiency can only keep shipping emissions stable, not reduce or eliminate them.“Nevertheless, until decarbonisation is achieved, decoupling business growth from emissions is a necessity, and we have set an efficiency target of 60% relative reduction in CO2 by 2030 from a 2008 baseline. With these targets, we are breaking the mould for climate targets and ambitions in the shipping industry.”Maersk had set a target of 60% relative reductions by 2020, using a 2007 baseline. By the end of 2018, the company reached 47% reduction since 2007.These have been achieved through massive investments in optimizing fleet efficiency, with technical retrofittings including capacity boost, new bulbous bows, propellers and engine modifications, as well as by improving planning and optimizing of networks.However, as explained, this is not enough to reach 60% in two years’ time.Hence, the company pointed out that massive innovative solutions and fuel transformation must take place in the next 5-10 years.“Over the last four years alone, we have invested USD 1 billion and engaged 50+ engineers each year in developing and deploying energy efficiency solutions. We expect this investment level to be sustained in pursuit of our new targets. Efficiency gains do not, however, solve the climate change problem. That can only be achieved through decarbonization,” the company said.
Gurugram: In a daylight robbery that was successfully carried out by snatchers, a youth was shot at in the busy streets of Gurugram.The incident occurred at Old DLF Colony at around 11:30 am. The victim has been identified as Deepak Dhingra whose age is said to be in the late 20’s. The assailants fired two bullets that hit the victim’s hand and abdomen following which the men who had come on the bike took away the bag he was carrying. The entire incident was captured in the CCTV cameras. After the incident, the victim was immediately admitted in the private multi-super speciality hospital where his condition is said to be critical. Also Read – After eight years, businessman arrested for kidnap & murderThere were various rumours that also floated of the victim dying due to the incident however this claim was dispelled by the law enforcement officials who claimed that the victim was under observation. Providing the background about Deepak, the law enforcement officials stated that he was working as a small-time distributor and there may be a possibility that the bag contained a huge amount of cash, a fact that was known by the assailants. The Gurugram police have also highlighted that there were three bike-borne assailants that were involved in carrying out the crime. Also Read – Two brothers held for snatchings”Following the incident the victim who has been identified as Deepak Dhingra. He is presently undergoing an operation and is critical. There may be a possibility that the bag contains huge amounts of cash for which the assailant’s dod not waver of shooting him. We are trying to identify the persons involved in the crime through the CCTV images and they will be arrested,” said a senior official from Gurugram police. Even though brazen incidents of snatchings is not a new phenomenon in the city, it was a troubling reality for the residents of Old DLF area one of the posh areas of the city which is also famous for its student coaching centres. “The fact that this incident is occurring in one of the busiest areas of the city that too in the broad daylight speaks a lot of lack of fear among the criminals in the city,” said a city resident. The incident just follows two days after a truck driver was also being shot at and stolen off his belongings.