The Challenges of Decarbonization for Greek-Owned Bulk Carriers

Greek owners control a significant portion of the world’s bulk carrier fleet, with 25% of the global deadweight tonnage and 47% of their own fleet consisting of bulk ships. This dominance in the industry has raised concerns about the challenges that tramp shipping, which involves ships calling at various ports around the world, will face in the transition to decarbonization. Nikos Kakalis, LR’s global bulk carrier segment director, highlighted the flexibility required in bulk shipping due to the nature of tramp shipping, which can lead to long waiting times and challenging conditions.

Kakalis emphasized the complexity of the energy transition for bulk carriers, as the availability of green fuels will be limited in the early stages. While liner services, which call at the same ports regularly, may have access to low and zero carbon fuels due to higher demand, bulk carriers that travel to various ports may struggle to find green fuel options. This discrepancy poses a significant challenge for the bulk shipping industry as it navigates the transition to more sustainable energy sources.

The article suggests that the availability of green fuels will be uneven in the early stages of the energy transition, with liner services benefiting from higher demand at certain ports. This poses a challenge for bulk carriers, which may struggle to find green fuel options at the various ports they visit. As Greek owners control a significant portion of the bulk carrier fleet, the industry is facing anxiety about the specific challenges of tramp shipping in the decarbonization process.

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