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Intro to BCG's Carbon Emissions Benchmark_vF.pdf
- 1. Shipping Benchmarking Initiative 2024 February 2024 CARBON EMISSIONS BENCHMARK INTRO
- 3. 3 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. Most of the world's leading shipping companies participate in BCG's benchmark Source: BCG's Shipping Benchmarks
- 4. 4 Copyright © 2024 by Boston Consulting Group. All rights reserved. Two SBI offerings in 2024 Source: BCG's Shipping Benchmarks Participation Fee x AER & EEOI tracking vs comparable vessels Carbon Emissions Class-by-class OPEX and quality comparison Vessel OPEX $10K $5K Focus of this document
- 5. 5 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. SBI and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to partner on an industry-leading decarbonization benchmark SBI & MMMCZCS Trusted by the world's leading shipping companies since 2009, with a proven track record in insights generation & data confidentiality* SBI BY BCG Benchmark fleet's carbon emissions performance relative to your peers and identify optimization opportunities *Participant data & results reside exclusively with the SBI team – only aggregated results will be shared with MMMCZCS for co-authoring industry insights Source: BCG's Shipping Benchmarks Thought leader in shipping decarbonization, adding topic credibility and bringing in- depth domain knowledge
- 6. 6 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. Data straightforward to collect • Data split into mandatory & optional to alleviate collection effort • Most operational data already audited and sent to IMO • Remaining questions are multiple choice, qualitative questions • All data is kept confidential within the BCG benchmarking team Peer group of truly comparable companies • List of participants non-confidential • Full breadth of company sizes & vessel types • Mix of owners and managers • Many of the world's leading shipping companies Sophisticated data-driven insights • Vessel-level emissions analyzed and correlated with company practices • Comprehensive view of energy efficiency measures • Insight on decarbonization strategies and investment areas Visually-rich, C-level quality customized benchmarking report • 60+ page personalized and highly-customizable report in the form of an easy-to-understand slide deck • Industry findings and key takeaways distilled and presented to the management team Why join our Carbon Emissions Benchmark
- 7. 7 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. Fleet performance correlated with company practices for a comprehensive view Source: BCG's Shipping Benchmarks Forward-looking analyses on your decarbonization efforts relative to peers covering adoption, investments and perceived challenges Efficiency measures Decarbonization transition Alternative fuels Carbon emissions compared by class to your peer group with analyses on underlying drivers to help identify and address gaps Energy Efficiency Operational Indicator (EEOI) Annual Efficiency Ratio (AER) Carbon Intensity Indicator (CII)
- 8. 8 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. Data collection at vessel- and company-level Source: BCG's Shipping Benchmarks Alternative fuels Decarbonization transition Efficiency measures Vessel-level Company-level Vessel info Operational data Technical specs IMO/vessel name Fuel consumption per type Main engine Technology and fuel adoption Build country/year Transport work Energy-saving devices Decarbonization targets Type/Size Distance sailed Main engine power Investments and financing Challenges and enablers Owner Avg. speed
- 10. 10 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. DEVIATION FROM AVG. +1.1 -2% +1% +0.4 CO₂ Emissions Distance sailed Age Speed AER utilization -2% +1% AER & EEOI performance broken down by category and vessel class D r y b u l k s ILLUSTRATIVE +4% +2% -3% -1% -2% -3% -5% -1% +2% -4% -3% +1% +2.2 +0.9 +1.3 +0.7 -0.5 -0.3 Supramax Cape VLOC Utilization = Transport work/(Vessel capacity x Total distance sailed in period) Source: BCG's Shipping Benchmarks
- 11. 11 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. ANNUAL EFFICIENCY RATIO (AER) EEOI (gCO₂-e/cargo Ton x Nm) *Avg. age of participants in the right-hand-side charts is clustered into four age groups: 1 (0-5), 2 (5-10), 3 (10-15), 4 (15+) Source: BCG's Shipping Benchmarks AER (gCO₂-e/DWT x Nm) You Other participants Age Avg. speed ENERGY EFFICIENCY OPERATING INDICATOR (EEOI) AER & EEOI side-by-side with other participants in each class C a p e ILLUSTRATIVE 15.7 15.2 14.5 14.4 13.3 11.9 10.1 9.8 13.3 13.1 1 3 2 1 2 3 2 1 9 8 13 13 13 12 13 12 14 13 14 13 0 5 10 15 20 0 10 20 Co. 1 Co. 2 Co. 3 Co. 4 You Co. 6 Co. 7 Co. 8 You SBI Avg. +2% 25.0 25.0 23.9 23.0 20.4 20.0 19.8 19.3 23.0 21.9 3 3 2 2 1 2 2 1 9 8 12 13 13 13 13 14 13 12 14 13 0 7 14 21 28 35 0 10 20 Co. 1 Co. 2 Co. 3 You Co. 4 Co. 6 Co. 7 Co. 8 You SBI Avg. +5%
- 12. 12 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. The CII ratings are based on the available SBI sample Source: BCG's Shipping Benchmarks Vessel distribution highlighting CII rating of individual vessels within the class ILLUSTRATIVE AER (gCO₂-e/DWT x Nm) Your vessels Other participating vessels A (15%) B (18%) C (32%) D (20%) E (14%) CII rating (% of vessels) 0 8 16 Your variance -20% Sample variance -45% SBI AVG. C a p e
- 13. 13 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. 12% 17% 15% 17% 16% 23% 27% 17% 15% 21% 12% 17% 14% 17% 15% 27% 32% 17% 18% 29% 31% 33% 37% 50% 42% 33% 29% 50% 32% 38% 25% 17% 24% 18% 12% 12% 20% 27% 17% 10% 17% 9% 17% 14% 0% 25% 50% 75% 100% Co. 1 5% Co. 2 Co. 3 Co. 4 You Co. 6 5% Co. 7 Co. 8 You SBI avg. 15.7 15.2 14.5 14.4 13.3 11.9 10.1 9.8 13.3 13.1 A B C D E CII scores Note: Includes only companies with minimum 3 vessels in the class Source: BCG's Shipping Benchmarks CII analyses to highlight fleet rating compared to other participants in class ILLUSTRATIVE PARTICIPANT FLEET COMPOSITION BY CII RATING - % of total participant vessels by CII rating (A through E) Lowest AER Highest AER AER (gCO₂-e /DWT x Nm) C a p e
- 14. 14 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. INTRA-FLEET COMPARISON OF FUEL MIX PARTICIPANT COMPARISON OF FUEL MIX 53% 14% 12% 60% 8% 40% 9% 60% 20% 33% 33% 54% 71% 17% 45% 28% 62% 17% 47% 12% 50% 25% 15% 24% 40% 22% 23% 24% 27% 6% 8% 0% 25% 50% 75% 100% Co. 1 Co. 2 Co. 3 Co. 4 You Co. 6 Co. 7 Co. 8 You SBI Avg. 15.7 15.2 14.5 14.4 13.3 11.9 10.1 9.8 13.3 13.1 75% 78% 74% 50% 45% 35% 60% 20% 12% 30% 20% 34% 17% 47% 25% 17% 14% 20% 35% 31% 24% 27% 0% 25% 50% 75% 100% Vessel 1 Vessel 2 Vessel 3 Vessel 4 Vessel 5 Vessel 6 You SBI Avg. 15.1 13.9 13.3 13.2 12.5 12.1 13.3 13.1 % share of fuel consumption Source: BCG's Shipping Benchmarks Fuel mix benchmarked per participant & vessel C a p e ILLUSTRATIVE LNG Clean MGO LFO HFO Lowest AER Highest AER Lowest AER Highest AER
- 15. 15 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. 40% 35% 30% 20% 15% 30% 25% 40% 35% 50% 20% 20% 30% 40% 30% 45% 35% 70% 75% Technical efficiency Operational efficiency Sustainable fuels Fleet retrofits Newbuildings Employee upskilling Onboard carbon capture Highly likely Likely Unlikely YOU 35% 35% 40% 35% 45% 20% 30% 30% 35% 25% 20% 30% 20% 20% 35% 30% 35% 45% 25% 60% 50% Source: BCG's Shipping Benchmarks Company-wide look at likely investment areas today and by 2030 ILLUSTRATIVE AS OF TODAY (% OF PARTICIPANTS) By 2030 (% OF PARTICIPANTS) YOU
- 16. 16 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. 20% 45% 15% 27% 65% 28% 2030 2050 15% 37% 12% 25% 73% 38% 2030 2050 23% 28% 16% 22% 61% 50% 2030 2050 36% 26% 25% 19% 39% 55% 2030 2050 13% 22% 12% 19% 75% 59% 2030 2050 Methanol Ammonia Biofuels LNG Carbon capture YOU Adoption >50% Adoption 20-50% Adoption <20% Source: BCG's Shipping Benchmarks Analyses on the adoption of alternative fuels by 2030 and 2050 ILLUSTRATIVE ADOPTION OF TOP 5 ALTERNATIVE FUELS BY 2030 & 2050 (% OF PARTICIPANTS)
- 18. 18 Sensitivity: Public Copyright © 2024 by Boston Consulting Group. All rights reserved. We look forward to hearing from you Ulrik Sanders Managing Director and Senior Partner Global Leader of BCG's Shipping Practice BCG Denmark Sanders.Ulrik@bcg.com Sara el-Wali SBI Team Leader BCG Denmark el-Wali.Sara@bcg.com
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