Decarbonizing shipping: from LNG to a multi-fuel future?

There are nowadays three fundamental key drivers:

regulations and policies

access to investors and capital

and expectations of cargo owners and consumers.

The Initial IMO GHG Strategy currently drives policy development within international shipping, and the first wave of regulations will take effect from 1 January 2023. Together with the EU’s proposals in the Fit for 55 package we expect them to have a significant impact on design and operations of all ships. While all ships need to fulfil the minimum compliance requirements from the IMO, commercial pressure may push shipowners to aim for a leading position in decarbonization, and poorly performing shipping companies will be less attractive on the charter market, and may also struggle to gain access to capital. DNV will help on define the owner “decarbonization stairway”, to cope with those challenges, and one key point is being ready for diversification.