DNV GL Releases New Report on Shipping's GHG Reduction Potential into 2050

DNV GL has published a new report, "Low Carbon Shipping towards 2050."
Image: DNV GL

DNV GL today announced that, based on a new computational model, it has published a report, "Low Carbon Shipping towards 2050," which assesses the potential for greenhouse gas (GHG) emissions reduction from shipping into 2050.

DNV GL says the new model is capable of evaluating various scenarios for individual ship segments and the general industry, evaluating the effectiveness of various solutions for reducing GHGs.

The model, which was developed by DNV GL, uses AIS data to create a fuel consumption and emissions baseline.

The model divides the global fleet into 47 ship segments based on vessel type and size, with fuel consumption estimated for every vessel individually - after which, the model makes a cost-benefit calculation for a set of alternative fuel options and energy efficiency measures, re-calculating the global level of fuel consumption and emissions.

"We have developed the model to be useful for many different stakeholders," said Christos Chryssakis, Group Leader Energy Efficiency & Fuels at DNV GL.

"From ship owners trying to identify optimum solutions, authorities developing strategies and supporting mechanisms for cutting emissions, through to policy makers looking for reduction strategies on a global level, the model can promote informed decision making to ensure that shipping remains the world's largest and most environmentally friendly transport sector."

DNV GL says that, with consideration for a variety of possible trade growth scenarios across different ship segments, the level of emission reduction heading to 2050 will depend on the availability of the technological solutions, their reduction potential, and rate of uptake. 

Further, DNV GL notes that uptake will be dependent on the cost and return on investment of each technology, as well as the investment horizon of ship owners.

"Despite the challenges facing our industry, we believe it is technically possible for shipping to achieve substantial GHG reductions, provided a viable strategy is developed and adopted from within the industry itself," said Chryssakis.

"But for such a strategy to be both successful and minimally disruptive, it should recognise the differences between the various shipping segments and the need to develop appropriate solutions for different ship types, sizes and types of operation."