KSA funded IMOCARES Project Releases Newsletter

The IMO recently released the IMOCARES newsletter covering the project activities, aims and achievements. The IMOCARES newsletter highlighted key goals in 2023 and milestones for 2024 and showcased initiatives and projects undertaken during the 2023 – 2024 period.

IMOCARES serves to support Small Island Developing States (SIDS) and Least Developed Countries (LDCs) meet the IMO Energy Efficiency and IMO GHG Strategy targets. The project focuses on identifying suitable market-ready technology solutions to improve the efficiency of vessels and ports, to ultimately reduce operation costs and GHG emissions across 4 ports in the Caribbean and Africa.

The IMOCARES Maritime Technology Global Challenge offered funding from the Kingdom of Saudi Arabia to a winning submission of innovative GHG reducing technology. The Challenge received multiple submissions since its opening in November 2023 with results expected later this year. The Challenge focused on the regions of Africa and the Caribbean as a technologically agnostic challenge, encouraging entries to tailor the specific needs of their submission to the countries where their solution will be deployed.

The newsletter also outlined the IMOCARES Global Technology report on Decarbonisation of Domestic Shipping, which focuses on existing maritime technologies, finding market-ready solutions to problems faced in target regions. By providing a comprehensive overview of available technologies the report will enable readers to make more informed decisions when allocating resources to projects. This report will be fully released in June/July 2024.

The progress made by IMOCARES highlights its continued focus on building a cleaner and more sustainable maritime future. The Kingdom of Saudi Arabia continues its support for this initiative, highlighting its commitment to building on cooperation and collaboration within the IMO and beyond. The Kingdom is looking to develop solutions to the issues facing SIDS and LDCs, while paving the way for a more sustainable and profitable Maritime sector.