The Business Case for Wind Assisted Propulsion for Commercial Shipping
Ocius is one of the foremost developers of solar and wind assisted propulsion technologies for the global ferry and shipping industry. Fuel and emission savings are and will remain the largest drivers of innovation across the maritime sector for the foreseeable future.
International shipping burns nearly 300 million tonnes of heavy bunker fuel every year at an estimated cost of $120 billion to the industry (EPA, 2012). For ship operators, bunker fuel comprises anywhere between 50-75% of operating costs, depending on the prevailing oil price. Global bunker fuel consumption is predicted to increase nearly two-fold on 2010 levels by 2020 due to large increases in the volume of international trade.
Importantly, by burning this dirty fuel, the industry generates more than 1 billion tonnes of CO2 emissions annually (IMO 2009) , about the same as Japan (3.5% of world total). Ship emissions also contain dangerous quantities of cancer causing sulphur dioxide and nitrogen dioxide. Today there are hard hitting policies coming into force from the IMO and other bodies to substantially reduce shipping emissions.