Chinese maritime industry launches green shipping initiative

The China Classification Society (CCS) is joining forces with several Chinese maritime industry companies to launch the “Sustainable Shipping Innovation and Development Initiative” (SSIDI).

VSCS launched SSIDI in Beijing with representatives from China Petrochemical Corporation, COSCO Shipping, China Merchants Energy Shipping and ICBC Financial Leasing signing the initiative.

SSIDI’s work will focus on the economics, safety, technology readiness, policies and regulations, fuel availability, market mechanism, and other aspects of alternative fuels for shipping.

CCS Vice President Fan Quang said:

However, it is important to recognize that amidst this trend towards alternative fuels, there are still many uncertain factors that need to be considered. These include fuel supply, ship financing, technology development and the formulation of standards. These go far beyond the scope of traditional shipping and require joint exploration by all parties across the entire industry chain.

SSIDI will work together to promote clean energy security and examine how a sustainable industrial chain of maritime transport innovation and development can be developed. The initiative will also strengthen members’ strategic cooperation on climate change.