GCMD, INTERCARGO team up to accelerate decarbonization efforts in dry bulk shipping

August 7, 2025, by Sara Kosmajac

Singapore-based Global Centre for Maritime Decarbonisation (GCMD) and the International Association of Dry Cargo Shipowners (INTERCARGO) have entered into a two-year coalition partnership to give speed to decarbonization endeavors within the dry bulk segment.

Within the scope of this collaboration, GCMD and INTERCARGO are set to work together on the promotion of energy efficiency-oriented technological solutions (EETs) among dry bulk shipowners.

In addition to this, the parties shared that they would work on fostering mutual knowledge exchanges on how to push forward the advancements in low- and zero-carbon-powered dry bulk vessels as well as how to address ‘various’ operational gaps.

“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 decarbonization,” Lynn Loo, Chief Executive Officer of GCMD, highlighted.

Reflecting further on the partnership, Dimitris Monioudis, Technical Committee Chairman of INTERCARGO, said that this step could pave the way toward the development of “practical and scalable solutions” that could make it ‘easier’ for companies to move their cargo.

Dry bulk: the needs and the challenges

Dry bulk shipping hauls the lion’s share of global cargo by tonnage, with bulkers accounting for what is estimated to be 42.7% of the world’s oceangoing fleet by deadweight tonnage.

As GCMD has noted, despite its size, or exactly because of it, the segment faces some ‘unique’ decarbonization challenges, and nowhere is this more apparent than among small and medium-sized owners often operating through ‘tramp’ trades, which come with irregular and unpredictable routes, making it a challenge for vessel operators to plan bunkering at ports that provide zero- or near-zero emission (ZNZ) fuels.

Moreover, global bunkering infrastructure remains in development, with ZNZ fuels unlikely to be available at all ports in the foreseeable future.

In order to meet the International Maritime Organisation’s (IMO) net zero target, while the maritime industry is as of yet working to scale ZNZ fuel availability and prepare ports for their handling and bunkering, GCMD and INTERCARGO have concluded that more practical, near-term solutions, such as drop-in biofuels, onboard carbon capture systems (OCCS) and EETs, are “urgently needed.”

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