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Decarbonisation

DNV report: Technological developments key to reducing maritime sector emissions

Report stressed that, until carbon-neutral fuels become viable, prioritizing development and use of technologies that reduce energy consumption is crucial for lowering shipping’s emissions.
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DNV report: Technological developments key to reducing maritime sector emissions

Reaching shipping’s 2030 decarbonization goal of 20% emission reductions, set by the International Maritime Organization (IMO), will not happen without significant energy savings, according to DNV’s latest Maritime Forecast to 2050, released on Friday (30 August). 

The report stressed that, until carbon-neutral fuels become viable, prioritizing the development and use of technologies that reduce energy consumption is crucial for lowering shipping’s emissions.

To reach IMO’s 2030 decarbonization goals shipping will need between 7 and 48 Mtoe of carbon-neutral fuels. However, with the global cross-sector production of carbon-neutral fuels expected to reach only between 44 and 63 Mtoe by 2030, it will be near impossible for shipping to secure its required share. 

As regulations like the EU Emissions Trading System (ETS) and FuelEU Maritime start to impose costs on emissions, shipowners and managers must therefore explore every option to reduce fuel consumption.

Knut Ørbeck-Nilssen, DNV Maritime CEO, said: “While we are currently witnessing a slowdown of decarbonization in shipping, we are entering an era of unprecedented technological exploration that will drive progress forward.”

“With carbon-neutral fuels in short supply, smart decision-making and strategic investments today are crucial to lay the foundations for future emissions reductions.”

“Prioritizing energy efficiency, leveraging technological solutions, and embracing digitalization are key steps towards reducing the extra cost burden and achieving our decarbonization goals.”

The eighth edition of DNV’s Maritime Forecast to 2050 provides an updated outlook on regulations, drivers, technologies and fuels needed for maritime decarbonization, including four scenarios exploring conditions that could accelerate the adoption of specific fuels and technologies by 2050. 

The report emphasised that regardless of which direction the industry’s decarbonization journey takes, it will come at a significant cost. 

The four simulated scenarios project these cost increases per transport work; with estimates ranging from 69-75% for bulk carriers, 70-86% for tankers, and 91-112% for container vessels.

“Our latest analyses show that decarbonizing shipping could double the cost of transporting goods by containers”, said Eirik Ovrum, Principal Consultant and Lead Author of Maritime Forecast to 2050. 

“Ultimately, the rising costs of seaborne transport will need to be passed down the value chain and the market is already seeing trends towards shifting these costs to end-users. To remain competitive, shipowners must develop and execute strategic fleet management plans.”

According to the report, reducing energy losses is the most straightforward way for the global fleet to cut emissions. Operational and technical energy efficiency measures can reduce fuel consumption by between 4 and 16% by 2030. 

Reducing energy consumption by 16% for the world fleet would save 40 Mt of fuel and 120 MtCO2 emissions, which would be equivalent to operating the 55,000 smallest ships or the 2,500 largest ships with carbon-neutral fuel.

Furthermore, the report highlighted onboard carbon capture (OCC) as potentially the most effective way to decarbonize as it enables the continued use of conventional fuels and technologies. However, CO2 handling infrastructure needs significant development. Solutions like shore power and batteries which can reduce reliance on costly carbon-neutral fuels are also highlighted. For instance, shore power can cut the 7% of total energy consumption that ships use in ports by replacing onboard fossil fuel-generated electricity.

Finally, the report emphasised the increasingly important role digitalization plays in complementing operational and technical energy efficiency measures. Digital verification tools are also crucial for establishing an infrastructure of trust, fostering industry-wide collaboration, and facilitating new contractual arrangements, incentivising energy savings.

 “Our new report outlines how digitalization can shed light on vessel performance, providing vital data which shows the impact of energy saving measures. Data-driven decision making can then be used to design the next-generation of energy efficient ships which are key to the sector’s long-term success”, said Ovrum.

Note: The full copy of DNV’s latest 8th edition of Maritime Forecast to 2050 report can be downloaded here. 

 

Photo credit: DNV
Published: 30 August, 2024

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Ammonia

Peninsula and ITOCHU establish ammonia bunkering joint venture for European ports

I&P Marine Ammonia has been created to promote the supply of ammonia as a next-generation zero carbon bunker fuel, with an initial focus on major strategic European and Mediterranean hubs.

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July 9, 2026

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Peninsula and ITOCHU establish ammonia bunkering joint venture for European ports

Global marine energy supplier Peninsula on Wednesday (8 July) announced the establishment of I&P Marine Ammonia Ltd. (IPMA), a joint venture with ITOCHU Corporation, to accelerate the development of ammonia marine fuel bunkering across key European ports.

IPMA has been created to promote the supply of ammonia as a next-generation zero carbon marine fuel, with an initial focus on major strategic European and Mediterranean hubs. These locations represent critical regions in global maritime logistics and will play a central role in enabling the adoption of alternative fuels at scale.

The formation of IPMA builds directly on the Memorandum of Understanding (MoU) signed between Peninsula and ITOCHU in September 2023, which established a framework for the joint development of ammonia bunkering infrastructure and supply chains.

Manifold Times previously reported the European Commission (EC) approving the creation of a joint venture by ITOCHU and Peninsula under the EU Merger Regulation.

“Ammonia is widely seen as the most reasonable option among zero‑carbon marine fuel alternatives, supporting the shipping industry’s transition in line with increasingly stringent regulatory and environmental requirements,” Peninsula said.

“The creation of IPMA marks a significant step towards the commercialisation of ammonia as a marine fuel.”

Peninsula has been advancing the alternative fuels landscape, with established capabilities across LNG, Bio LNG, biofuels and other alternative solutions such as methanol and ammonia. This joint venture represents a natural progression of the company’s strategy to provide customers with practical, scalable decarbonisation pathways.

The partnership combines Peninsula’s global bunkering expertise, an established global supply network and deep customer relationships covering over 500 ports across all major bunkering hubs with ITOCHU’s integrated approach, spanning fuel production and supply chain development.

“Together, Itochu and Peninsula will combine these strengths to develop a robust ammonia bunkering framework, pairing upstream supply and infrastructure with the customer-facing expertise required to deliver ammonia as bunker fuel reliably at scale,” the company added. 

With an initial focus on Europe, IPMA is well positioned to accelerate the emergence of an operational ammonia marine fuel supply chain, complementing and reinforcing the broader industry initiatives already underway across the region.

Related: EC gives green light on Itochu-Peninsula ammonia bunkering joint venture
Related: Spain: Itochu, Peninsula enter MOU for joint development of ammonia bunkering in Gibraltar Strait

 

Photo credit: Peninsula
Published: 9 July, 2026

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Alternative Fuels

Evos and HyFive ink LOI to explore e-methanol storage in Port of Rotterdam

LOI follows Evos’ recently announced expansion project for methanol and ethanol storage in the port, which will give Evos capacity to handle the developing market in low-carbon marine fuels and bunkering.
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July 9, 2026

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Evos Rotterdam starts construction on methanol and ethanol expansion project

Evos and HyFive on Wednesday (8 July) said they have signed a Letter of Intent (LOI) to explore the storage and handling of e-methanol in the Port of Rotterdam, which is expected to be produced by HyFive’s HyMet Musel project in northern Spain.

Under this non-binding agreement, Evos and HyFive will assess potential technical and commercial parameters, including logistics interfaces and operational requirements.

The LOI follows Evos’ recently announced expansion project for low-carbon methanol and ethanol storage in the port. The project includes the construction of five new storage tanks with a combined gross capacity of 67,500 cubic metres, a new pump station and a new jetty to be built by the Port of Rotterdam Authority. 

Once operational in early 2028, the expansion will give Evos Rotterdam greater capacity to handle methanol and ethanol for industrial customers, as well as for the developing market in cleaner, low-carbon marine fuels and bunkering.

HyFive’s HyMet Musel project on Spain’s Atlantic coast is planned with a production capacity of 100,000 tonnes per year, with start-up targeted from 2029. HyFive has signed a comprehensive term sheet for a significant portion of the initial production volumes and continues commercial discussions with potential offtakers, including shipping companies active in the ARA region.

Alberto Sanchez de Rojas, General Manager, HyFive, said: “We are pleased to sign this LOI with Evos to explore a potential supply route for e‑methanol from our HyMet Musel project. While this is an initial step, it is an important milestone in assessing downstream infrastructure options that could help meet growing demand for cleaner marine fuels in the ARA region.”

Christiaan Kop, Evos Rotterdam Managing Director, said: “We welcome the opportunity to explore, through this potential partnership with HyFive, how our Rotterdam terminal could support future e‑methanol flows into the ARA region. We see strong long‑term momentum behind low‑carbon fuels, and we continue to invest in infrastructure that can help our customers and partners navigate the energy transition.”

Related: Evos Rotterdam starts construction on methanol and ethanol expansion project

 

Photo credit: Evos Rotterdam
Published: 9 July, 2026

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Biofuel

China: Chimbusco completes first bonded B24 bunkering operation in Shenzhen

Chimbusco Marine Bunker (Shenzhen) completed the operation after supplying 1,300 mt of B24 marine biofuel oil for “Xin Chi Wan” vessel, at Shekou Container Terminal.
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July 8, 2026

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China: Chimbusco completes first bonded B24 bunkering operation in Shenzhen

Zhuhai Chimbusco Petroleum Co Ltd (Chimbusco Zhuhai), a subsidiary of China Marine Bunker (PetroChina) (Chimbusco), on Monday (6 July) said the company completed its first bunkering operation since receiving its local licence in Shenzhen. 

Chimbusco Marine Bunker (Shenzhen) completed the operation after supplying 1,300 metric tonnes (mt) of B24 marine biofuel oil for the Xin Chi Wan vessel, owned by COSCO Shipping Group, at the Shekou Container Terminal in Shenzhen.

The operation adopted the “cross-customs direct supply bunkering” model with the cooperation of Shenzhen and Gongbei Customs and maritime authorities.

Looking ahead, Chimbusco Marine Bunker (Shenzhen) said it will build on its local licensing and policy advantages to expand its bonded marine fuel bunkering business in Shenzhen.

The company plans to optimise its bunkering processes and improve service quality to help strengthen the city’s bonded marine fuel supply capabilities while supporting the shipping industry’s green transition.

 

Photo credit: Zhuhai Chimbusco Petroleum
Published: 8 July, 2026

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