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Insight brief summarises discussions from Global Maritime Forum Annual Summit

Findings of paper include combination of policy measures is the best way to close the competitiveness gap between fossil fuels and scalable zero emissions fuels (SZEF).
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The Global Maritime Forum on Thursday (1 December) announced a new Insight Brief prepared by several authors that summarises discussions from the Global Maritime Forum Annual Summit around the policy imperative to decarbonise shipping in line with the Paris Agreement’s 1.5 degree Celsius temperature goal, in the context of the momentum for policy action that has emerged over the past years.

The brief titled Shipping’s urgent need for Paris-aligned regulation said the Global Maritime Forum discussions echoed the now wide call from across shipping’s industry associations for IMO to adopt a high ambition GHG Strategy and associated regulation to transform shipping and ensure a level playing field and commercial viability.

The main findings of this Insight Brief are that:

  • The Revised IMO GHG Strategy should set clear 1.5-aligned interim targets, for example GHG emissions reduction targets for 2030 and 2040. Targets should be guided by IPCC science and specify the reduction rates over each decade. The IPCC science indicates GHG reductions in 2040 at least 80% below 2008 emissions. A higher value (90% or more) is likely to be necessary to acknowledge that deep absolute reductions may not be achievable by 2030.
  • A combination of policy measures is the best way to close the competitiveness gap between fossil fuels and scalable zero emissions fuels (SZEF) and phase out GHG emissions. This is because no single individual measure is likely to effectively do this on its own.
  • A combination of policy measures could at least include 1) an economic instrument, for example a carbon levy as this is the simplest to administer for industry, and it can generate revenue to support the transition, and 2) a global GHG fuel standard, as this would send a clear signal to industry for gradual and final phase-out of GHG emissions.
  • Both the Revised IMO GHG Strategy and policy measures must adopt a well-to-wake framing for targets and incentives.
  • Provisions for revenue allocation and spending should be developed to ensure an effective transition that is also just and equitable for workers, communities and countries. Provisions should include climate finance for developing countries, especially SIDS and LDCs.
  • Provisions for revenue allocation could also include a system of funding seafarer training for new fuels and other decarbonisation technologies. Other options are support for development, distribution, and buying of SZEF and development of zero emission vessels.

Following these recommendations and steps to take for the IMO, the paper suggests they are more likely to create strong demand for SZEFs, zero emission technologies and vessels, which will maximise the required investments in shipping decarbonisation including the critically important land-side investment in new scalable zero emission energy supply chains. Strong, clear regulation at the IMO is the safest way to ensure that both the fleet and fuels needed will be available in the quantities needed for a 1.5-aligned transition.

The available time to reduce GHG emissions in line with 1.5 is so compressed, that failure to agree on science-based interim targets in 2023 could mean that investments and an orderly transition would no-longer be possible.

The paper further stresses that shipping’s decarbonisation transition will have huge implications for seafarers and maritime workers across the value chain. It is critically important that the voice of seafarers is listened to in the revision of the Strategy and policy measures, and in the continuous work to review and improve regulation.

There is a need for stakeholders in the shipping industry and value chain to help amplify these requests. The damage to the industry that can result from the significant downside risk of a late, disorderly, or globally fragmented transition means that it’s in our collective interest that IMO provides clarity and ensures a level-playing field by taking the above steps. Now is the time to seize the window of opportunity and put trust in the IMO to adopt a clear and ambitious strategy with the policies the industry and its value chain needs to manage the risks and opportunities of important new investments.

Note: The full ‘Shipping’s urgent need for Paris-aligned regulation insight’ brief can be found here.

 

Photo credit: Shaah Shahidh on Unsplash
Published: 7 December, 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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