According to the latest edition of DNV‘s Maritime Forecast to 2050, the shipping industry will find it challenging to secure enough supply of carbon-neutral fuels. Thus, industry stakeholders should be flexible and look at various options to reduce emissions.
A fuel technology transition is already underway, with half the ordered tonnage capable of using liquefied natural gas (LNG), liquefied petroleum gas (LPG), or methanol in dual-fuel engines, compared to one third of the tonnage on order last year.
For ships in operation, 6.5% of tonnage can now operate on alternative fuels, compared to 5.5% last year.
The uptake of methanol and LPG is also starting to show in the statistics together with the first hydrogen-fuelled newbuilds.
There are currently several ongoing demonstration projects for ammonia-fuelled ships, and a growing pipeline of ammonia-fuelled ships soon to hit the order book.
Securing greener fuel supply is critical. However, focusing on fuels alone can distract us from making an impact this decade and ambitious future declarations are not good enough. What we need is tangible actions that will reduce emissions. Energy efficiency measures can deliver decarbonization results now and towards 2030.
… said Knut Ørbeck-Nilssen, CEO DNV Maritime
How IMO and EU regulatory changes as well as US and Chinese policies that may impact maritime globally
2023 has seen significant regulatory developments by the IMO, with the goal of reaching net zero by 2050, and by the EU, with new legislation. Policies in the US and China may impact the maritime sector globally.
Some shipping companies now offer net-zero emission services in response to cargo owners needing to decarbonize their operations.
A book-and-claim system could speed uptake of carbon-neutral fuels, enlarging the market by allowing those with no access to physical fuel products to buy reduction claims
Our latest report outlines several energy efficiency measures that can deliver decarbonization results now. It emphasises the need for the maritime sector to adopt a holistic approach to ensure a strong evolution of regulations and technologies, as well as long-term security of fuel supply
… concluded Eirik Ovrum, Principal Consultant in DNV Maritime, and Lead Author of the Maritime Forecast