ILTA attended a House Subcommittee on Coast Guard and Maritime Transportation hearing on January 14 discussing a path toward carbon reductions in the maritime sector, particularly by switching to greener fuels to power the global fleet. The International Maritime Organization’s 2020 fuel standards should jumpstart the process, many speakers said.
Subcommittee Chairman Sean Patrick Maloney (D-NY) noted that decarbonization of the nation’s maritime industry presented huge economic opportunities, especially through private-public partnerships. Ranking Member Bob Gibbs (R-OH) warned against government overreach that could stifle private innovation, and he expressed concerns about the ability to meet the long-term environmental benchmarks outlined in the IMO2020 rule. Panelists discussed port and ship modernization and called for government to bolster federal funding for research and development into biofuels, LNG and renewable electricity for ships.
No specific bills were proposed during the hearing, but ILTA intends to continue to follow the topic, as it understands that many of its members store fuels used by the maritime industry.