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Argus Media: Shipping decarbonisation needs transformational change, says panel

‘Regulations have to adapt with technologies, along with fuels, along with commercial measures. All of this has to come together now,’ says a panellist.

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Nicholas Watt of global energy and commodity price reporting agency Argus Media on Friday (24 September) reported on panellists’ views of the Call to Action programme during a recent shipping conference:

Shipping associations rejected incremental efficiency improvements as the means to reach the increasingly ambitious 2050 emissions-cutting goals adopted by the industry and called for urgent transformational change during the Marine Money conference.

Earlier this week, over 150 signatories of the Call to Action for Shipping Decarbonisation, including AP Moller-Maersk, Euronav, and Trafigura, called for the global maritime fleet to eliminate net carbon emissions by 2050, echoing what the US and UK announced earlier this year.

“You will never get there if you think about the individual problems you have today and trying to solve those problems to get [to decarbonisation],” said David Cummins, President of the Blue Sky Maritime Coalition, a US and Canada shipping association.

“Regulations have to adapt with technologies, along with fuels, along with commercial measures. All of this has to come together now.”

The challenge to reach this goal, or even the less ambitious goal from the International Maritime Organization (IMO) to cut emissions by half in the same time frame, requires bridging a very wide gap. Less than 1pc of the global shipping fleet, which accounts for 2-3pc of the world greenhouse gas emissions, runs on unconventional fuel.

The Call to Action also supported making zero-carbon ships the default newbuilding option by 2030.

“We need to think about the future we want [in 2050] and backing up to today, understanding how to get there,” said Cummins. He floated one possible future scenario that involved crewless autonomous vessels and AI-run ports at which every ship arrives exactly at the same time another leaves the berth.

“If you take that as the future, what do you have to do to transition to it?” he said.

Given the enormity of the decarbonisation task, assuming the status quo in shipping may be misguided, according to another participant in the Marine Money conference. “The idea that ships are going to be powered by a zero carbon/green fuel and all other structural elements remain the same is something to be questioned,” said Hew Crooks, an executive at crude tanker Ridgebury Tankers. “That we are moving oil in the same quantities to the same places is a little bit debatable.”

Opportunities in green shipping

While such change in the shipping industry is likely to be bumpy for many stakeholders, it will open up opportunities for others. One such opportunity would be in the transportation of alternative fuel ammonia, whose lack of energy density — only a fifth of fuel oil — means more cargo demand for shipowners, according to Guy Platten, president of the International Chamber of Shipowners (ICS).

“[Ammonia] is going to have to be shipped from places where it is produced to places where it is needed. And it is going to need five times as many tankers/gas carriers as you do oil tankers,” he said.

Furthermore, on such voyages, ships may be able to use part of their environmentally friendly cargo to fuel their journey, another “potential opportunity,” said Platten.

A fuel quandary for shipowners

Continuing the status quo of building ships that burn conventional fuel is increasingly risky for shipowners too since such ships could be regulated into obsolescence early in their lifespan depending on how emissions rules evolve.

This risk has led to reluctance among shipowners to order new vessels, said Platten.

“We do not think anyone fuel will dominate,” said Anthony Gurnee, chief executive of product tanker company Ardmore Shipping. “We are looking for the right horse to back.”

Furthermore, the appetite among banks to finance carbon intensive projects, such as conventionally fueled newbuildings, will continue to decline, according to Johanna Christensen, chief executive of the Global Maritime Forum.

“On the finance side, the Poseidon Principles is only the beginning. In the financial ecosystem there is more and more focus on bringing investment decisions in line with the kinds of goals being set in the Paris agreement,” she said. “Financing for any type of asset including ships that are not aligned with that trajectory is simply going to dry up in the future.”

But the solution is not simply incentivizing shipowners to build more ships that can burn more environmentally friendly fuel.

Access to alternative fuel supply is the “elephant in the room,” said Platten. “It does not matter how many zero-carbon ships you build if there’s no fuel there to run them on,” he said.

Ammonia or hydrogen bunkering capability is largely non-existent at the world’s seaports.

Government backing needed for shipping change

“This idea of incrementalism is not going to get us [to the decarbonization targets]. I think there are some incremental steps that should be taken efficiency is a good example of that. But there is a wholescale transformation that needs to take place,” said Christensen.

Such momentous change will need the unequivocal support of global policymakers, said Platten.

“Everyone has got the message that we need to decarbonize. But we do need political certainty to do that,” he said. It does need governments stepping up to the plate. You cannot invest unless you have that certainty.”

 

Photo credit and source: Argus Media
Published: 27 September, 2021

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

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

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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