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DNV: Hydrogen at risk of being the great missed opportunity of the energy transition

Hydrogen derivatives such as ammonia are key to decarbonizing heavy transport including shipping; however, these fuels would not scale until the 2030s, according to a DNV forecast.
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Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV published on Tuesday (14 June). 

In Hydrogen Forecast to 2050, DNV predicts the amount of hydrogen in the energy mix will be only 0.5% in 2030 and 5% in 2050. However, to meet the targets of the Paris Agreement, hydrogen uptake would need to triple to meet 15% of energy demand by mid-century. 

“Hydrogen is essential to decarbonize sectors that cannot be electrified, like aviation, maritime, and high-heat manufacturing and should therefore be prioritized for these sectors,” said Remi Eriksen, Group President and CEO of DNV. 

“Policies do not match hydrogen’s importance. They will also need to support the scaling of renewable energy generation and carbon capture and storage as crucial elements in producing low-carbon hydrogen.” 

According to Hydrogen Forecast to 2050, electricity-based green hydrogen – produced by splitting hydrogen from water using electrolysers – will be the dominant form of production by the middle of the century, accounting for 72% of output. This will require a surplus of renewable energy, to power an electrolyser capacity of 3,100 gigawatts. This is more than twice the total installed generation capacity of solar and wind today. 

Blue hydrogen – produced from natural gas with emissions captured – has a greater role to play in the shorter term (around 30% of total production in 2030), but its competitiveness will reduce as renewable energy capacity increases and prices drop. 

Global spend on producing hydrogen for energy purposes from now until 2050 will be USD 6.8tn, with an additional USD 180bn spent on hydrogen pipelines and USD 530bn on building and operating ammonia terminals, according to DNV’s forecasts. 

Cost considerations will lead to more than 50% of hydrogen pipelines globally being repurposed from natural gas pipelines, as the cost to repurpose pipelines is expected to be just 10-35% of new construction costs. Hydrogen will be transported by pipelines up to medium distances within and between countries, but not between continents. Global hydrogen trade will also be limited by the high cost of liquefying hydrogen for ship transport and the low energy density of hydrogen. The hydrogen derivative ammonia, which is more stable and can be more readily transported by ship, will be traded globally. 

Early uptake of hydrogen will be led by hard-to-abate, high-heat manufacturing processes such as iron and steel production which currently use coal and natural gas. Hydrogen derivatives, such as ammonia and methanol, are key to decarbonizing heavy transport like shipping and aviation, but these fuels won’t scale until the 2030s according to DNV’s forecasts. 

Hydrogen will not see uptake in passenger vehicles, and only limited uptake in power generation. Hydrogen for heating of buildings will not scale globally, but will see early uptake in some regions that already have extensive gas infrastructure.

“Scaling hydrogen value chains will require managing safety risk and public acceptance, as well as employing policies to make hydrogen projects competitive and bankable. We need to plan at the level of energy systems, enabling societies to embrace the urgent decarbonization opportunities presented by hydrogen,” added Eriksen. 

The uptake of hydrogen will differ significantly by region, heavily influenced by policy. Europe is the forerunner with hydrogen set to take 11% of the energy mix by 2050, as enabling policies both kickstart the scaling of hydrogen production and stimulate end-use. 

OECD Pacific (hydrogen 8% of energy mix in 2050) and North America (7%) regions also have strategies, targets, and funding pushing the supply-side, but have lower carbon-prices and less concrete targets and policies. Greater China (6%) follows on, recently providing more clarity on funding and hydrogen prospects towards 2035, coupled with an expanding national emissions trading scheme. These four regions will together consume two-thirds of global hydrogen demand for energy purposes by 2050.

Note: The full report ‘Hydrogen Forecast to 2050’ can be downloaded here. 

 

Photo credit: DNV
Published: 15 June, 2022

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Alternative Fuels

MPA and MSC ink MoU to support adoption of alternative bunker fuels

MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency.
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MPA and MSC ink MoU to support adoption of alternative bunker fuels

The Maritime and Port Authority of Singapore (MPA) on Wednesday (3 June) said it signed a Memorandum of Understanding (MoU) with MSC Mediterranean Shipping Company to strengthen collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. 

The MoU was signed on 25 May 2026 by Mr Ang Wee Keong, Chief Executive of MPA, and Mr Soren Toft, Chief Executive Officer of MSC.

The MoU underscores the shared commitment of MPA and MSC to foster a sustainable, digital, and future-ready maritime sector, while enhancing MSC’s operational and business activities in Singapore. This year also marks the 30th anniversary of MSC establishing its Asia Regional Office and local office in Singapore.

Under the MoU, MPA and MSC will explore new routes and services to strengthen connectivity, support the adoption of alternative marine fuels such as bio-LNG, and advance technologies to improve vessel energy efficiency and operational performance.

MPA and MSC will also collaborate on maritime digitalisation initiatives to improve operational efficiency, including streamlining vessel arrivals and port operations. 

On manpower development, MSC will support internship and scholarship opportunities through Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE) platform, an industry-led tripartite partnership comprising industry, government and institutes of higher learning that aims to raise awareness of the maritime industry and attract quality talent into the maritime sector.

Mr Ang Wee Keong, Chief Executive of MPA, said: “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector. By working together on decarbonisation, operational efficiency and talent development, we aim to strengthen Maritime Singapore’s position as a trusted and future-ready global maritime hub.”

Mr Soren Toft, Chief Executive Officer of MSC, said: “Singapore is a strategically important hub for MSC and a key gateway to the broader Asia region. As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here. MSC and Singapore are closely aligned on the priorities shaping the future of global shipping, and we look forward to deepening this partnership to drive the continued growth and resilience of the maritime industry.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 4 June, 2026

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Methanol

Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Following “Seaspan Yangtze”, the remaining vessels planned for retrofit under the methanol retrofit programme are “Seaspan Amazon”, “Seaspan Ganges”, “Seaspan Thames”, and “Seaspan Zambezi”.
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Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Seaspan Corporation (Seaspan) and Hapag-Lloyd on Wednesday (3 June) announced the successful completion of the first of the five vessel conversions under their methanol retrofit programme with the delivery of Seaspan Yangtze.

From the early SAVER (Seaspan Action for Vessel Energy Reduction) programme to today’s CleanBlue initiative, Seaspan has committed over USD 230 USD million across 86 vessels, executing more than 550 efficiency and retrofit projects.

Following Seaspan Yangtze, the remaining vessels planned for retrofit under the programme are Seaspan Amazon, Seaspan Ganges, Seaspan Thames, and Seaspan Zambezi. Each retrofit is expected to reduce well-to-wake CO₂e emissions by approximately 30,000 to 50,000 metric tonnes per vessel annually when operating on low-carbon methanol, while also extending vessel lifespan and enhancing fuel flexibility.

“Decarbonisation is not just about building the fleet of tomorrow, it is also about unlocking the full potential of the fleet we have today. Retrofitting and upgrades on existing fleets play a practical, immediate, and economical role in accelerating shipping’s decarbonization journey,” said Bing Chen, Chairman, President and CEO of Seaspan. 

“Project SAVER CleanBlue highlights Seaspan’s strong customer partnerships, deep technical expertise, and unique platform integrated with JV partners, such as WattSpan Maritime Technology, in executing complex and large-scale retrofit projects.”

“The successful conversion of the Seaspan Yangtze together with the planned retrofit of its four sister vessels is another important step on our ambitious path towards net-zero fleet operations by 2045,” said Silke Lehmköster, Managing Director, Fleet, Hapag-Lloyd. 

“Together with Seaspan, we are demonstrating that retrofitting existing vessels for low-carbon methanol can be a practical way to reduce emissions in shipping.”

 

Photo credit: Seaspan
Published: 4 June, 2026

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Nuclear

South Korean-led nuclear car carrier design secures LR backing

LR is working with HHI, KSOE, Hyundai Glovis, G- Marine Service and KAERI on a joint development project exploring an advanced small modular reactor (SMR) installation on a PCTC.

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South Korean-led nuclear car carrier design secures LR backing

Classification society Lloyd’s Register (LR) on Tuesday (2 June) said it has teamed up with South Korean shipbuilding, marine services and nuclear research organisations to advance the development of a nuclear‑assisted car carrier concept. 

LR is working with Hyundai Heavy Industries, Korea Shipbuilding & Offshore Engineering (KSOE), Hyundai Glovis, G- Marine Service and the Korea Atomic Energy Research Institute (KAERI) on a joint development project (JDP) exploring an advanced small modular reactor (SMR) installation on a pure car and truck carrier (PCTC). 

The study focused on how a Molten Salt Reactor (MSR) could be physically and operationally integrated into a large vehicle carrier. Work examined the internal arrangement and segregation of the reactor system, shielding requirements, and the impact on cargo deck layout and vehicle capacity, alongside stability and trim implications linked to the reactor’s weight and positioning. 

The partners also assessed propulsion system configuration and power delivery, as well as operational flexibility compared with conventionally fuelled PCTCs, where trade routes and port calls can be tightly constrained. 

A key focus of the project has been safety. LR led hazard identification (HAZID) and preliminary risk assessment work, focusing on containment, onboard safety systems and potential operability constraints tied to nuclear technology at sea. 

The partners will mark the project milestone with an Approval in Principle (AiP) granting ceremony on 2 June at the LR stand during Posidonia 2026. 

Sung-Gu Park, President – North East Asia, Lloyd’s Register, said: “While nuclear propulsion is still at an early stage of development, this project shows the importance of building technical understanding now to support future progress. 

“Establishing feasibility at concept stage is a valuable step forward, particularly in areas such as cargo optimisation, vessel stability and integrated safety design.” 

Hong-Ryeul Ryu, CTO and Senior Executive Vice President at HD HHI, said: “With global environmental regulations becoming increasingly stringent and no definitive net-zero fuel yet available, SMR-powered ships can serve as a highly effective alternative, representing a pioneering next-generation maritime technology capable of complying with GHG emission regulations while allowing lifetime operation without refuelling, and HD HHI will remain at the forefront of sustainable maritime technology development.”

 

Photo credit: Lloyd’s Register
Published: 4 June, 2026

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