The SMM Maritime Industry Report (MIR) 2025 indicates a dual reality for the global shipping sector: a strong practical commitment to sustainability driven by investment in new technology, balanced by significant skepticism regarding the feasibility of the International Maritime Organization’s (IMO) ambitious global climate goals.
Skepticism Regarding Net-Zero 2050
A substantial portion of industry leaders expressed doubt about achieving the IMO’s ultimate climate objective, attributing their reservations to the enormous scale of the required transformation.
- Doubt on Target: Approximately half of shipowners and suppliers (51%) and 46% of shipyards doubt that the IMO’s net-zero goal can be achieved by 2050.
- Reason for Concern: This skepticism stems from the practical challenges of transitioning a fleet of roughly 90,000 ships worldwide within the current timeframe, a task described as a “gigantic undertaking.”
- Policy Setbacks: This perspective is reinforced by the recent failure of IMO member states to achieve consensus on a global climate protection policy, leading to the postponement of a decision on critical measures like a global alternative fuel standard and an emission penalty.
Strong Industry Commitment and Investment
Despite the pessimism on global targets, the MIR 2025 reveals that sustainability remains a top priority, translating into concrete measures and high investment readiness across the sector.
- Top Agenda Item: Sustainability continues to range at the top of the industry’s agenda.
- Implementation: Nine out of ten companies are actively implementing specific measures, marking a significant 8% increase from the previous survey.
- Supplier Expectations: A large majority of responding suppliers, 78%, expect sustainability to become even more prominent in the coming years.
- IMO Framework Influence: The IMO’s Net-Zero Framework is already actively reshaping investment decisions, operational strategies, and fuel choices across the entire maritime value chain.
Focus on Efficiency and Alternative Fuels
The path forward for the maritime sector is centered on operational efficiency enhancements and preparing for a future dominated by diverse alternative energy sources.
- Efficiency as a Success Factor: Given the certainty that alternative fuels will be more expensive than conventional ones, efficient ship operations are highlighted as a crucial success factor for both newbuilds and existing vessels.
- Retrofitting Focus: The industry is prioritizing retrofitting existing ships to boost efficiency.
- Shipowner Investment Plans: 78% of shipowners are planning to invest in appropriate retrofitting technologies, with the main focus being on propulsion systems (66%) and digital solutions (58%).
- Surging Fuel Demand: Over the next ten years, survey participants expect the demand for LNG, biofuels, methanol, and other hydrogen-based fuels to soar, with hybrid propulsion solutions also expected to play a key role.
The Need for Collaboration and Combined Solutions
Industry leaders agree that a unified, multi-faceted approach is necessary to navigate the transition successfully.
- No Silver Bullet: There is a consensus that there will not be “one single technology solution” to achieve the zero-emission goal by 2050, either for propulsion or energy sources.
- Multi-Technology Approach: Achieving net zero will require a combination of many technologies, integrated with operational efficiency enhancements like digitalization and Artificial Intelligence (AI).
- Key to Success: Close collaboration between different stakeholders is considered key to leading the shipping sector to a climate-friendly future.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: AJOT
