TotalEnergies joins the Castor Initiative to decarbonize maritime shipping
Global energy company TotalEnergies has joined the Castor Initiative, an international coalition of companies that aims to make maritime shipping a zero-emission operation.
TotalEnergies becomes the eighth member of the initiative, alongside MISC Berhad (MISC), Lloyd’s Register (LR), Samsung Heavy Industries (SHI), MAN Energy Solutions (MAN), the Maritime and Port Authority of Singapore (MPA), Yara Clean Ammonia (Yara) and Jurong Port. Established in January 2020, the group has already reached a project milestone in the form of a memorandum of understanding for the construction of two zero-emission deep-sea tanker vessels.
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With the addition of TotalEnergies to the Castor Initiative, the group seeks to ensure and support the complete ecosystem required for ammonia-fueled tankers to operate in a safe and sustainable manner.
With a company commitment to sustainability, TotalEnergies will bring operational experience to the initiative to support the sector’s aim of decarbonization. Through the combination of each company’s experience and knowledge, the group seeks to make the Castor Initiative a successful project that builds on ideas from conception to project realization.
With the International Maritime Organization’s (IMO) 2050 ambitions seeking to cut greenhouse gas emissions by 50% compared with 2008 levels, it is estimated that zero-carbon vessels need to be introduced to the world fleet by 2030. The Castor Initiative’s joint development ideology is built on a shared belief that the maritime sector needs collaboration if the industry is to meet the strict targets set by the IMO. In addition to considering ammonia as a fuel, the group will evaluate the use of other decarbonization pathways.
“Among various decarbonized marine fuel alternatives, ammonia could rapidly become a viable solution in the maritime sector while challenges remain to be addressed, in particular on the safety aspects,” explained Jérôme Cousin, senior vice president of shipping at TotalEnergies. “We are therefore enthusiastic to join the Castor Initiative, one of the most comprehensive and ambitious projects dealing with ammonia as a fuel today. As a multi-energy company committed to the energy transition, TotalEnergies will strive to bring its charterer perspective to this consortium of highly reputable industry players.”
“Efforts to decarbonize the maritime sector are forging ahead and collaboration among the Castor Initiative partners on ammonia-fueled tonnage continues apace,” commented Nick Brown, chief executive officer of Lloyd’s Register. “We are delighted that TotalEnergies has joined our development project as its considerable industry experience and expertise will help to accelerate the partnership’s goal of delivering safe zero-emission shipping in the middle of this decade.”
“The decarbonization of the fleet and development of a green ammonia supply chain and other hydrogen carriers to meet IMO targets will require the commitment of diverse stakeholders across the entire value chain,” added Kenneth Lim, assistant chief executive, industry and transformation, at MPA. “As the world’s top bunkering hub, Singapore will work closely with the industry to bring in a green marine fuel supply chain through consortiums such as the Castor Initiative and the green and digital shipping corridors, to enable the energy transition.”
