A sustainable approach
As part of our rebrand in 2021, Peninsula committed to being part of the solution that will reduce the environmental impact of the marine industry as a whole and we are proactively working on projects that will ultimately result in achieving the goal of Net Zero. For our commercial shipping customers, we identified LNG as a transition fuel that will significantly reduce the carbon emissions of ships over the next ten to fifteen years. Together with Scale Gas, a subsidiary of Engas, we will deliver a newbuild LNG bunker vessel which will be deployed across the Mediterranean during 2023.
For yachting, we recognise that LNG is not a suitable alternative fuel and that the transition to a sustainable future is likely to focus more on Biofuels. We also recognise that the ultra-high standards synonymous with superyachts makes changing to unknown and unproven technologies a scary and unappealing prospect. Fuel is the most important product brought on to a yacht in relation to its operation, without it the yacht simply cannot operate. Poor quality fuel can lead to issues with the yachts’ propulsion systems, increasing the workload for the engineering teams and leading to potential delays while parts are serviced or replaced. It is understandable therefore that yachts are reluctant to veer away from tried and tested solutions when it comes to the fuel. Yet despite this yachting has to evolve and make significant changes to fuels currently being used.
Our partnership with Fraser
Together with Fraser, Peninsula is engaging with key stakeholders in yachting to better understand what steps yachts are already taking to reduce their environmental footprint and what are the blockers to a more rapid transition to sustainable fuels. Prior to this year’s Monaco Yacht Show, we conducted an environmental survey across the combined Peninsula and Fraser fleet, the results of which were used to award the first FUTURE (Environmental) Award presented at Fraser’s 20th Captain & Crew Awards during the show. As well as presenting a similar award during the Fort Lauderdale International Boat Show, Fraser and Peninsula will be putting together a series of round-table discussions with Captains and Technical Managers to discuss what the likely next steps will be to reduce emissions and the overall environmental impact of superyachts.
The collaboration with Fraser is just one example of the work that Peninsula is undertaking to ensure we are constantly working towards to Net Zero future for yachting.