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DNV GL: Developing Zero-Carbon Fuels Likely Only Way Shipping can Meet IMO GHG Goal
DNV GL says it is likely that the only way Shipping can meet the IMO's GHG goal is by developing zero-carbon fuels.
The comments, made by Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime at a press conference ahead of this week's Posidonia trade fair in Athens, echoed the long held view of the International Chamber of Shipping (ICS).
They come in contrast to an OECD report suggesting the shipping industry could be near carbon-free by 2035 using only currently known technologies.
At MEPC 72 in April the industry pledged to cut its GHG emissions at least 50% by 2050 compared to 2008 levels.
"The 50% reduction goal will likely call for a wide-spread uptake of zero-carbon fuels, in addition to other energy efficiency measures," Ørbeck-Nilssen said.
"These fuels are not existing today, and there needs to be a concerted effort towards developing these and making them available in the necessary quantity. In classification, working with the industry to create a safe and sustainable future is at the heart of what we do. We look forward to working closely with the IMO and the wider maritime community to reach this goal."
DNV GL Group President & CEO Remi Eriksen, meanwhile, said that decarbonisation, along with digitalisation, was one of two "mega-trends" impacting the maritime industry.
"The IMO strategy announced last month targets a 50% carbon reduction. This is ambitious but not unachievable. We see some companies leading the way, and more efficient ship designs and better ship utilisation will propel this," he said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 560.50 | 7.00 | 669.00 | 4.00 |
| Rotterdam | 512.50 | 2.00 | 653.00 | 2.00 |
| Houston | 548.00 | 3.00 | 671.00 | 0.00 |
| Fujairah | 549.00 | 6.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 577.50 | 3.50 | 749.50 | 1.50 |
| Global 4 Ports Average | 542.50 | 3.50 | 685.00 | 0.50 |
| Global Average Bunker Price | 628.50 | 1.50 | 800.50 | 1.00 |
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