Strategies for Meeting Earliest Decarbonization Targets

Key Themes

• Industry Insights
• Decarbonization
• Digitalization

Current State

• Maritime industry is under pressure to decarbonize due to EU regulations and IMO goals.
• Carbon-neutral fuels are expensive and scarce.
• Short-term focus should be on operational and technical energy efficiency.

IMO Goals

• Set targets for 20% emissions reduction by 2030, 70% by 2040, and full decarbonization by 2050.
• Alternative fuels are not sufficient to meet 2030 targets.

Carbon-Neutral Fuels

• Estimated production by 2030: 44 to 63 million tonnes of oil equivalent.
• Maritime demand in 2030: 7 to 48 million tonnes.
• Production shortage could hinder meeting IMO targets.

On-Board Carbon Capture (OCC)

• OCC could delay the need for carbon-neutral fuels.
• Economically viable depending on carbon pricing and infrastructure.
• Potential for OCC post-2030 if storage capacity is realized.

Energy Efficiency

• Essential for meeting IMO 2030 targets.
• Operational and technical measures could reduce fuel use by 4% to 16% by 2030.
• Energy efficiency provides a competitive edge.

Shore Power and Electrofuels

• 7% of energy is consumed in port.
• Shore power can reduce emissions significantly if local electricity is renewable.
• Electrofuels need low GHG intensity electricity to be effective.

Battery and Hybrid Systems

• More than 900 ships with hybrid power systems.
• Shorter voyages allow more frequent battery charging.
• Potential increase in plug-in hybridization.

Nuclear Propulsion

• Small modular reactors could be used in the merchant fleet.
• Overcoming barriers could create nuclear opportunities.

Digitalization

• Drives operational efficiency and emissions reductions.
• AI, IoT, and simulations improve carbon footprint.
• Digital tools crucial for transparency and decision-making.

Trust in Digitalization

• Reliable data and trust necessary for effective digitalization.
• DNV tools can help build trust across the industry.

Regulatory Frameworks

• Progressive regulations needed for successful decarbonization.
• Smart investments required for long-term emissions reduction.

These notes provide a comprehensive understanding of the strategies discussed for meeting decarbonization targets in the maritime industry, highlighting key technologies, potential barriers, and the role of digitalization.