During the 8th edition of the Maritime Forecast to 2050 Webinar, DNV Maritime CEO, Knut Ørbeck-Nilssen, expressed concerns about the slow progress of maritime decarbonization. He highlighted that 93% of the global shipping fleet still relies on conventional fuels, posing a significant challenge to reducing emissions. While there is progress with vessels equipped with dual-fuel engines, obstacles like high production costs and the need for extensive bunkering infrastructure hinder further decarbonization efforts. The competition for alternative fuels from other industries also raises concerns about their availability in the future.
Ørbeck-Nilssen pointed out that the use of methanol as an alternative fuel is currently limited by its high cost and availability. Orders for alternative-fueled vessels and retrofits come with significant expenses, compounded by limited shipyard capacity for construction or retrofitting. The CEO warned that decarbonization is slowing down, and the industry will face struggles in the next decade due to these challenges.
Despite the obstacles, Ørbeck-Nilssen suggested measures that operators can take to reduce emissions. This includes implementing energy efficiency technologies to enhance the performance of existing vessels by reducing fuel consumption through retrofits. He also mentioned the potential of onboard carbon capture and storage (OCCS) as a solution, contingent on the availability of carbon disposal sites. Ports investing in carbon storage infrastructure and creating carbon capture corridors could facilitate onboard OCCS and help alleviate the demand for alternative fuels.
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