$1.9 trillion needed to decarbonize shipping industry

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    DP World, a globally recognized leader in comprehensive maritime-oriented supply chain solutions, has taken another significant stride in its logistics network expansion by introducing a new operational unit in Turkey. This strategic initiative is dedicated to providing top-tier Grade A facilities that optimize operations for DP World's esteemed customers within the Turkish market. Simultaneously, this endeavor will play a pivotal role in nurturing trade and economic growth across the expansive region, known for its intricate connections to the Marmara, Aegean, and Black Seas. Operating under the banner of DP World Logistics Turkey, this division stands as a cornerstone within DP World Logistics Europe's overarching strategic framework. Central to DP World's operational philosophy is the seamless integration of intermodal connectivity and the strategic co-location of logistics facilities, industrial spaces, and port operations. This approach consistently amplifies supply chain efficiencies, resulting in reduced costs and heightened operational efficiency for our esteemed clients across global markets. Rooted in the dynamic region along the Marmara Sea, DP World Yarimca operates as a central commercial nexus, facilitating trade interactions between Europe and Asia, with an impact that resonates far beyond. Our pioneering logistics division, established within this strategically positioned landscape, serves as a catalyst, propelling Europe's economic advancement on multiple fronts. To further enhance our capabilities, we are pleased to announce the incorporation of both bonded and non-bonded warehouse facilities in Istanbul and Kocaeli. These facilities are poised to elevate our offerings, providing even greater flexibility and value to our clients as they navigate the dynamic landscape of international trade.

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$1.9 trillion needed to decarbonize shipping industry

Date: 09/03/2020

Today the world is feeling the impact of climate change and global warming more than ever. All countries are taking various decisions and measures for the future. Private sector is also making new investments to reduce carbon emissions. However, the cost of environment-friendly investments is quite high. The amount of investment needed to reduce the emissions generated by shipping companies by 50 percent stands at $1.4 trillion.

ANNUAL INVESTMENT NEEDED: $50-60 BILLION

According to the estimations of maritime NGO, Global Maritime Forum, reducing carbon emissions from shipping requires an annual investment of $50 billion over the next 20 years. If shipping was to be fully decarbonized by 2050, this would require an extra investment of $400 billion, making the total investments needed $1.9 trillion dollars.

The biggest share of investments is needed on the land side with infrastructure, new fuel production facilities and supply chain as the most pressing areas. Only 13 percent of the investments needed are related to the ships themselves. These investments include the machinery and onboard storage.

THREE “GREEN” MOVES FROM DP WORLD YARIMCA

In an effort to reduce carbon emissions, DP World Yarımca cut down on the use of Reach Stackers at the terminal. New trailers are now used at the warehouse to replace Reach Stackers in sliding containers, preventing 64 tonnes of carbon emissions in 2019 compared to a year before and providing a saving of 279 barrels on oil. In addition, the port uses electric-powered RTGs and quay cranes, they produce regenerative power during operation. In 2019, quay cranes saved 439 tonnes of carbon dioxide, which is equal to the annual power consumption of 320 households while RTGs provided a 162-tonne carbon saving, an amount equivalent to the consumption of 118 households. As part of another “green” move, solar panels will be placed on the roofs of the CFS warehouse and the workshop building. The $400,000 investment will help generate 470 MWh per year, leading to a 20 percent saving on the terminal’s annual power consumption.

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