Fednav is fully aligned with the revised IMO GHG Strategy adopted by the Marine Environment Protection Committee (MEPC 80), which targets to reach net-zero GHG emissions for international shipping by or around 2050. This includes a commitment to ensure the uptake of 5% alternative fuels by 2030 and checkpoint targets to reach net-zero GHG emissions with a 20% total reduction by 2030 and a 70% total reduction by 2040. Our strategy is further enhanced with measures to reduce carbon intensity (CO2 emissions per transport work) by 40% in 2030.

With the introduction of the Carbon Intensity Indicator (CII) in the shipping industry, significantly more attention has been paid to reducing emissions to meet the mandated targets. The CII measures the amount of CO2 emitted against the deadweight and distance sailed by a vessel. As we continue to learn how commercial decisions impact the environmental footprint of the shipping business, we aim to maintain our reduction of carbon intensity trajectory from 2008 to 2030 and beyond.  

In order to accelerate the decarbonization of the maritime industry and ensure that shipping is a sustainable part of the global economic landscape, research efforts need to be fast-tracked to build confidence for early adopters to effect change. Fednav has been expanding its outreach by participating in various research initiatives with stakeholders. Thanks to these initiatives, we have a continuous influx of thoughts and inspirations that can be evaluated and tried.

During 2023, we worked closely with a local university to study the rollout of shore power infrastructure. We continue to engage with local governments to support research on ballast water treatment and analysis, provide input on biofouling management from an operator's perspective, and assist with underwater noise data collection.

While Fednav's first IMO and USCG-type approved ballast water treatment system was installed in 2015, the final ship in the fleet was retrofitted with a system in 2023. With more than eight years of in-service experience on the conventional fleet and using three different types of ballast water treatment systems, we have gained expertise regarding each system's challenges and appropriate water conditions.

We continue to facilitate research into the operation of BWTS in Ports with Challenging Water Quality, which our local government initiated to ensure that the systems operate as designed. As we continue to trade in sensitive areas, the protection of these ecosystems continues to be a critical priority.