India Targets Green Shipping on Inland Waterways

  • March 18, 2024
  • News

India is ambitiously targeting the transition of its entire coastal and inland waterways shipping to renewable energy within the next five years. To spearhead green hydrogen production, the government has identified three strategic hubs at Kandla, Thoothukudi, and Paradip. A pilot ecosystem is being developed in Thoothukudi, where 400 acres have been allocated for companies to set up electrolysers. Additionally, funds have been approved to convert some vessels to run on methanol at the Shipping Corporation of India. Multiple companies have been invited to engage with hydrogen projects in Thoothukudi and contribute fresh insights to help shape policies.

Globally, the shipping industry contributes approximately 3% of the world’s CO2 emissions. India’s efforts to reduce its carbon footprint align with the International Maritime Organization’s target to cut greenhouse gas emissions from ships by 50% from 2008 levels by 2050.

Furthermore, to bolster its shipping industry, India plans to establish a Maritime Development Fund aimed at supporting the manufacturing of green vessels and ports. The federal shipping ministry confirmed that they are in the initial stages of setting up this fund, with an official announcement expected later this year.

In addition to these initiatives, New Delhi has set an ambitious production target of 5 million metric tons of green hydrogen annually by 2030. These efforts reflect India’s commitment to sustainability and its role in combating climate change.