The Global Centre for Maritime Decarbonisation (GCMD) and the International Association of Dry Cargo Shipowners (INTERCARGO) have launched a two-year coalition partnership to accelerate the decarbonisation of the dry bulk sector, the largest shipping segment by tonnage. The initiative aims to tackle the operational and adoption barriers that have slowed the deployment of low- and zero-carbon solutions in this fleet.
Dry bulk carriers, which account for 42.7% of the global oceangoing fleet by deadweight tonnage, face distinctive decarbonisation challenges. Many operate on tramp trades, with irregular and unpredictable routes that complicate fuel planning and limit access to ports equipped for zero- or near-zero-emission (ZNZ) fuels. With global bunkering infrastructure for such fuels still in early development, availability is likely to remain uneven in the near term.
The partnership will prioritise developing practical, near-term solutions that can be implemented before large-scale adoption of ZNZ fuels becomes feasible. These include drop-in biofuels, onboard carbon capture systems (OCCS) and energy efficiency technologies (EETs). GCMD is already conducting pilots to validate these approaches, with findings expected to inform market adoption and regulatory frameworks.
Financing remains a major hurdle for small and medium-sized shipowners. To address this, GCMD is developing a Pay-As-You-Save (PAYS) model that links repayment to verified fuel savings. Sensors installed on vessels will collect operational data to quantify these savings, providing transparency for both shipowners and financiers.
Professor Lynn Loo, CEO of GCMD, said: ‘This partnership offers a valuable opportunity to deepen our understanding of the dry bulk segment’s operational realities and work collaboratively to address gaps in meeting the industry’s decarbonisation targets. Through INTERCARGO’s consultative status at IMO, we hope to contribute to the development of global regulatory frameworks for maritime decarbonisation.’
Dimitris Monioudis, Technical Committee Chairman of INTERCARGO, added: ‘This partnership helps ensure practical, scalable technologies reach the companies moving most of the world’s essential cargoes. By combining GCMD’s strength in executing first-of-a-kind pilots with our members’ operational expertise and consultative status at the IMO, we can accelerate progress towards the industry’s decarbonisation targets.’
