DNV forecast indicates potential shortage of green fuel in shipping industry

The shipping industry is under increasing pressure to reduce emissions and decarbonize. The International Maritime Organization (IMO) has set tougher targets for the industry, including a 20% emissions reduction by 2030 and net-zero emissions by 2050. To meet the projected demand, the maritime sector will need to access 30-40% of the global carbon neutral fuel supply.

DNV, a maritime classification society, believes that shipowners need to go beyond fuel and focus on energy efficiency measures to achieve emissions reductions. Knut Ørbeck-Nilssen, the CEO of DNV Maritime, emphasizes the importance of concrete measures that can deliver decarbonization outcomes now and by 2030. Operational energy efficiency measures like air lubrication systems and wind-assisted propulsion can help address decarbonization challenges.

In addition to energy efficiency measures, technologies such as onboard CO2 capture and storage and nuclear propulsion can play a role in reducing emissions. DNV’s study suggests that onboard CO2 capture can be operational for large container ships, capturing 70% of the carbon dioxide annually. The study also highlights that the transition to fuel technology is already underway, with a significant portion of the tonnage on order suitable for the use of LNG, LPG, or methanol in dual-fuel engines.

Overall, the shipping industry is facing increasing regulatory pressure to decarbonize, and shipowners need to explore energy efficiency measures and alternative technologies to achieve emissions reductions.

Source .