DNV has published its latest Maritime Forecast to 2050 to help shipowners navigate the technologies and fuels needed to meet global greenhouse gas (GHG) targets.

The 80-page report, which is part of DNV’s Energy Transition Outlook (ETO) set of reports, aims to assist the shipping industry in facing the dual challenges of increasingly stringent climate change targets and regulations, coupled with uncertainty over future fuel choice, technology, and supply. This, DNV ceo Knut Ørbeck-Nilssen said, is “the grand challenge of our time”.

The Maritime Forecast to 2050 – the fifth edition of its kind – features detailed case studies to help evaluate fuel and technology scenarios and compare competing solutions.

It also features an updated carbon risk management framework, including a new ‘decarbonisation stairway’ model which DNV said will help shipowners map a path to sustainability.

“A misstep today in newbuild fuel strategies can have damaging consequences for businesses and assets in the future. So, owners need practical, expert advice and smart solutions to ensure vessels stay competitive, compliant and commercially attractive over their lifetimes. This is where the Maritime Forecast to 2050 can help turn strategic uncertainty into confident decision-making,” Ørbeck-Nilssen said.

 The report finds that the maritime energy transition is already gaining momentum, with around 12 percent of newbuilds currently ordered with alternative fuel systems. This is double the 6 percent revealed by DNV’s 2019 Maritime Forecast report. However, less than 1 percent of ships currently in operation use alternative fuels, with the huge majority plying shortsea routes.

You can download the full Maritime Forecast to 2050 here.