Interreg 2 Seas ISHY projectThe EU has set itself targets for reducing its greenhouse gas emissions progressively up to 2050.
Shipping industry and suppliers must invest in low carbon propulsion systems in order to reduce the emission of greenhouse gas, but is facing a number of market failures as:
- Vessels have a long operational lifetime (30-40 years), so little incentive to retrofit or replace;
- Number of new build ships per year is low, so RIO in innovative systems for shipbuilders is low;
- Limited faith and knowledge in effectiveness of alternative propulsion technologies;
- Regulation, security and certification haven’t been clarified yet;
- Alternative fueling infrastructures in ports are limited.
That is why YES is project partner in the EU Interreg 2 Seas ISHY project.