New IMO strategy
Summit participants expressed cautious optimism about the International Maritime Organization’s (IMO) revised greenhouse gas strategy, adopted just three months prior. The revised strategy calls for net-zero sector emissions “by or around 2050” and sets further-reaching indicative 2030 and 2040 checkpoints.
Aggregated fuel demand
Participants called for exploring different models for aggregating fuel demand, including entering into consortia that could help support economies of scale, and better collaboration between shipowners, ports, and shipbuilders to eliminate bottlenecks in the availability, storage, and scalability of new fuels.
Seafarer mental health
The Summit generated several proposals for how shipping can take better care of its current talent and attract the workforce of tomorrow, including putting mental health on par with physical safety and a need to have open and honest conversations about sexual assault at sea.
New fuel availability
Participants expressed concern about the energy industry’s ability to produce zero-emission fuels at the pace needed for the maritime industry to achieve decarbonisation in alignment with objectives set by the Paris Agreement and called for strengthened engagement with the energy sector and governments.
Maritime talent
There was wide agreement that the maritime industry needs to change if it is going to attract top talent. Actions identified include investing more in education and providing good working conditions – not least for seafarers – while also becoming better at articulating the industry’s value proposition.
Shipping's resiliency
In line with the Summit theme 'Braving Rough Seas', many discussions highlighted the industry's can-do attitude in the face of crises. The war in Ukraine, the lingering effects of the pandemic, shifting trade patterns, and snarled supply chains were seen as tests of the industry's resiliency that require new types of collaboration.
Treating seafarers right
The crew change crisis during the COVID-19 pandemic revealed systemic challenges affecting the well-being of seafarers. Despite the success of initiatives like the Neptune Declaration, participants called for collaborative actions to ensure that seafarers are consistently treated with dignity and respect.
Immediate actions
Taking immediate actions to reduce shipping emissions from international shipping emerged as a common thread, with participants discussing the importance of taking advantage of known and available technologies and operational measures while also tackling systemic challenges that impair energy efficiency.
Green corridors
Participants called for establishing green corridors to enable the demonstration and deployment of zero-emission shipping fuels and technologies. These specific trade routes would help overcome complexity and encourage the companies and governments that are willing to move first on decarbonisation solutions.
Industry optimism
One overarching theme was the great sense of pride in the maritime sector's role in providing efficient economic services that enable the growth of global trade and economic development. Participants were optimistic that the industry's ongoing efforts could help create a positive future.
Shared obligation
Achieving the IMO's target of at least 50% emissions reductions by 2050 was seen by Summit participants as not just a shared ambition, but a shared obligation. Reaching it will require unprecedented levels of collaboration across the entire maritime value chain and with the energy sector and governments.
Need for diversity
While participants expressed pride in the maritime sector's role in the global economy, there were also calls for increased diversity—in terms of gender, age, and geography—both at future Summits and in the sector's leadership so that it better reflects changing economic, demographic, and political dynamics.
Going global
The first-ever Global Maritime Forum Annual Summit gathered many participants who had also attended its predecessor, Danish Maritime Days. Holding two days of intense discussions in Hong Kong was an acknowledgement that the industry's challenges can only be addressed at a global level.
Getting to Zero
More than 50 CEOs from across the global maritime value chain signed a call to action in support of decarbonisation at the Annual Summit. This marked the first time the shipping industry expressed collective support for decarbonisation and the statement was the precursor to the Getting to Zero coalition.
Together in Safety
A focus on seafarer safety resulted in a common mission to create a zero-accident industry. The 'Together in Safety' initiative identified concrete steps for companies to take, including better sharing of best practices and existing accident reports and further standardising safety equipment and training.