Emanuele Grimaldi on Maritime Sustainability & the State of the Industry

Comments upon receiving the Capital Link Maritime Sustainability Award 

At Capital Link's 14th Annual Forum on Operational Excellence in Shipping, held in Athens, Greece, the discussion on sustainable and efficient maritime practices reached new heights. The event gathered leaders from the shipping industry to discuss best practices and sustainability initiatives that are shaping the future of maritime operations. With a 14-year track record, it is the only forum that showcases Operational Excellence in the Maritime Sector and explores best industry practices across all major areas such as fleet management, technological innovation, crewing, energy efficiency and the environment, safety & security.

A notable moment of the forum was the presentation of the 2024 Maritime Sustainability Award to Mr. Emanuele Grimaldi, Chairman of the International Chamber of Shipping and a prominent figure in the global maritime sector, recognized for his pioneering efforts in promoting sustainability as well as best practices in shipping.

Mrs. Melina Travlos , President of the Union of Greek Shipowners | Ένωσις Ελλήνων Εφοπλιστών , delivered introductory remarks before presenting Mr. Grimaldi with the award. His acceptance speech showcased the significance of sustainability within the shipping industry and emphasized that environmentally responsible practices not only benefit the planet but also serve as sound business strategies.

2024 Maritime Sustainability Award Presentation:

A significant achievement mentioned during his keynote address, was the recent acquirement of five G5 class ro-ro multipurpose vessels by the Grimaldi Group. These vessels incorporate cutting-edge technology, thus increasing energy efficiency and minimizing environmental impact. At the same time, Mr. Grimaldi paid tribute to his predecessor at ICS, Esben Poulsson, who was instrumental in advancing sustainability initiatives within the organization. He hoped to continue this legacy, emphasizing the importance of collaborative efforts in steering the industry through the complexities it faces today.

Addressing the audience, Mr. Grimaldi expressed concern over global trade threats posed by geopolitical tensions, which have put seafarers’ lives at risk. Recent attacks on merchant vessels in the Red Sea, resulting in loss of life and crew captivity, have raised alarms within the maritime community. “Our seafarers’ lives are under threat on a daily basis for simply doing their jobs,” he commented, stressing the need for immediate action to protect those who work tirelessly to keep global trade flowing.

Another pressing issue discussed was the rise of protectionism, which adds not only complexity but also significant cost to the shipping industry, an industry that moves more than 90% of the global trade. Mr. Grimaldi referred to the 2024 ICS Barometer report, which identified protectionism as a top concern among maritime leaders. He cautioned that any slowdown in global trade could have significant ripple effects, impacting the industry's ability to transport goods efficiently.

To counteract these challenges, Mr. Grimaldi called for a proactive approach from the industry and policymakers. He emphasized that nations across various levels of economic development would benefit from reducing trade barriers, noting that even modest reductions could significantly boost GDP in many economies.

Mr. Grimaldi also stressed the importance of establishing an economic measure to drive the market for new fuels, noting that a fuel standard alone would merely act as a tax on trade. A holistic approach is essential for achieving the IMO's climate goals by 2050, targeting on making low and zero-carbon fuels accessible and affordable. He also highlighted the role of ports in supporting this transition, as they will be vital for the infrastructure needed to refuel vessels with greener alternatives, noting at the same time, that progress in this sector has been too slow in recent years.

Furthermore, when it came to the maritime industry's green transition, he did not fail to mention that practical measures must be implemented to meet the ambitious goals set by the IMO’s GHG strategy, particularly through the rapid adoption of low and zero-emission fuels. He also expressed gratitude to Greece’s maritime community for supporting ICS proposals, which foster innovation and provide financial aid for developing economies transitioning to cleaner fuels. Mr. Grimaldi reiterated the urgency of implementing an economic measure by 2025 and operationalizing it by 2027, ensuring the industry can meet its decarbonization targets.

Throughout his speech, Mr. Grimaldi maintained an optimistic outlook on the shipping industry’s resilience in the face of recent challenges, including the pandemic and global conflicts. He urged stakeholders to prioritize operational excellence, ensuring that the industry not only survives but thrives in a rapidly evolving landscape.

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