Law firm Reed Smith says early findings from its sustainable fuel survey suggest shipowners are embracing dual-fuel solutions to move towards net zero.
The UK shipping specialist said preliminary feedback from industry respondents suggested that close to half the industry is poised to embrace dual-fuel within the next five years.
Reed Smith is now seeking further responses from shipping players.
“It’s a dynamic landscape,” partner Thor Maalouf said. “As we collect more data, I’m curious to witness the potential shift in this percentage.
“Fostering a sustainable industry demands a collective commitment to knowledge exchange. A joined-up and collaborative approach is the most effective path towards sustainable fuels, and by pooling our expertise, we can help steer the industry towards a more sustainable and innovative future.”
The anonymous survey seeks input on renewable energy sources, including the perceptions of sustainable options, potential challenges, barriers and expected timelines for a complete transition to sustainable fuel.
Richard Hakes, chair of Reed Smith’s transportation industry group, said: “The industry has experienced significant changes over the past decade, driven by technological advances, regulatory developments and environmental targets.
“Events such as the global pandemic and geopolitical factors have emphasised the need for foresight and adaptability.”
He believes deciding on the best solution regarding cost, safety, storage and scalability remains a challenge.
