DNV, the world’s leading classification society’s latest Maritime Forecast to 2050, part of the Energy Transition Outlook (ETO) suite of reports, says an article published on their website.
Aim of report
Conceived to help shipowners navigate the technologies and fuels needed to meet global greenhouse gas (GHG) targets, the report features an updated carbon risk management framework, including a new ‘decarbonization stairway’ model to help owners map a path to sustainability.
The 80-page report aims to assist an industry facing the dual challenge of increasingly stringent climate change targets and regulations coupled with uncertainty over future fuel choices, technology, and supply.
“A misstep today in newbuild fuel strategies can have damaging consequences for businesses and assets in the future. So, owners need practical, expert advice and smart solutions to ensure vessels stay competitive, compliant and commercially attractive over their lifetimes. This is where the Maritime Forecast to 2050 can help turn strategic uncertainty into confident decision-making”, said Ørbeck-Nilssen.
Report, a map to sustainability
The report maps the shifting regulatory landscape, provides a status update on technology and alternative fuels, and views the energy transition from a wider perspective – investigating the financing of green onboard investments, as well as the need for rapid development of supply-side capacity for new fuels.
To support shipowners, DNV provides an updated framework for managing carbon risk in new building designs, a techno-economic evaluation of fuel strategies, and the vessel design implications of those chosen approaches. The ‘decarbonization stairway’ is introduced to show how individual owners can adapt to stay below the required GHG emission trajectories.
Linda Sigrid Hammer, DNV Maritime Principal Consultant and Maritime Forecast to 2050 report lead author, said: “With between 1,000 and 2,000 ships expected to be ordered annually through 2030, there’s a real need for informed decisions that consider a diverse array of factors; from cost, to fuel storage and propulsion, through to flexibility in design, strategic approach, and fuel ready solutions. And of course, all of this is underpinned by the need for safety.
“Our revised framework allows for detailed assessments, providing support and expertise to mitigate the risks and uncertainties facing owners. The carbon neutral destination for the industry is clear, but the pathway is not. This report will help owners chart their way forwards.”
New Maritime Forecast to 2050
The new Maritime Forecast to 2050 – the fifth edition of its kind – features detailed case studies to help evaluate fuel and technology scenarios and compare competing solutions.
The report finds that the maritime energy transition is already gaining momentum, with around 12% of newbuilds currently ordered with alternative fuel systems. This is double the 6% revealed by DNV’s 2019 Maritime Forecast report.
However, less than 1% of ships currently in operation use alternative fuels, with the huge majority plying short-sea routes.
DNV forecasts that total CAPEX for onboard technology investments required to satisfy IMO decarbonization ambitions will range from USD 250-800 billion (dependent on fleet size) between 2020 and 2050.
Summary
- DNV, the world’s leading classification society’s latest Maritime Forecast to 2050, part of the Energy Transition Outlook (ETO) suite of reports.
- The 80-page report aims to assist an industry facing the dual challenge of increasingly stringent climate change targets.
- The report maps the shifting regulatory landscape, provides a status update on technology and alternative fuels.
- The report finds that the maritime energy transition is already gaining momentum, with around 12% of newbuilds currently ordered with alternative fuel systems.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: DNV
