New GMF study identifies eight promising Spanish green shipping corridors
A new study from the Global Maritime Forum (GMF) has identified the eight most promising green corridor routes that Spain could develop to support decarbonisation of the shipping industry.
PHOTO: Cargo ships in the Port of Las Palmas, Spain. Getty Images
The study, conducted in partnership with the British Embassy Madrid, found that the UK, Italy and the US are among the most promising partner nations for Spain for developing green corridors, followed by Turkey, Morocco and China.
Green corridors are conceptualised trade routes on which shipping companies are encouraged and incentivised to use zero-emission fuels and other means of cutting greenhouse gas emissions.
According to the GMF study, there are various deep-sea green corridor opportunities for container shipping between China and the ports of Barcelona and Valencia, and between the US East Coast and Valencia and Algeciras. It also identified short sea opportunities within Europe, such as between Bilbao and Liverpool.
GMF also found that the Mediterranean cruise route, with Barcelona as the home port, and the Atlantic Spain-UK cruise route could be developed as green corridors.
The study noted that several building blocks such as a viable fuel pathway, customer demand for green shipping and favorable policies need to be in place for development of green corridors. Spanish ports already show a high level of interest and favourable conditions for bunkering of hydrogen-based zero-emission fuels at major locations, it said.
"Within shipping, the results point to opportunities in the container, roll-on/roll-off, and cruise segments. Targeting routes with cargo owners within food and beverage, car manufacturing, and textile sectors is recommended due to large volumes, high-value trade, and balanced trade flows within these sectors," GMF said.
By Debarati Bhattacharjee
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