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DNV introduces ‘decarbonisation stairway’ model helps shipowners navigate newbuild dilemmas

80-page report assists shipping industry facing dual challenge of increasingly stringent climate change targets, uncertainty over fuel choices, technology and supply.
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Classification society DNV on Wednesday (1 September) said it has launched the latest edition of its Maritime Forecast to 2050 report, part of the Energy Transition Outlook (ETO) suite of documents.

The report has been conceived to help shipowners navigate the technologies and fuels needed to meet global greenhouse gas (GHG) targets, and features an updated carbon risk management framework, including a new ‘decarbonisation stairway’ model to help owners map a path to sustainability.

The 80-page report aims to assist an industry facing the dual challenge of increasingly stringent climate change targets and regulations coupled with uncertainty over future fuel choices, technology, and supply. 

It is, according to DNV Maritime CEO Knut Ørbeck-Nilssen, “the grand challenge of our time.”

“Choosing the right fuel today for operations tomorrow is a daunting task that all owners must face up to,” said Ørbeck-Nilssen. “The business environment is changing in line with the natural one, leading not just to increased regulatory requirements, but also to new cargo-owner and consumer expectations and more rigorous demands from capital investors and institutions.

“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.”

The report maps the shifting regulatory landscape, provides a status update on technology and alternative fuels, and views the energy transition from a wider perspective – investigating the financing of green onboard investments, as well as the need for rapid development of supply-side capacity for new fuels. it states.

To support shipowners, DNV provides an updated framework for managing carbon risk in newbuilding designs, a techno-economic evaluation of fuel strategies, and the vessel design implications of those chosen approaches. The ‘decarbonization stairway’ is introduced to show how individual owners can adapt to stay below the required GHG emission trajectories.

Linda Sigrid Hammer, DNV Maritime Principal Consultant and Maritime Forecast to 2050 report lead author, said: “With between 1,000 and 2,000 ships expected to be ordered annually through 2030, there’s a real need for informed decisions that consider a diverse array of factors; from cost, to fuel storage and propulsion, through to flexibility in design, strategic approach, and fuel ready solutions. And of course, all of this is underpinned by the need for safety.”

“Our revised framework allows for detailed assessments, providing support and expertise to mitigate the risks and uncertainties facing owners. The carbon neutral destination for the industry is clear, but the pathway is not. This report will help owners chart their way forwards.”

The new 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. The report finds that the maritime energy transition is already gaining momentum, with around 12% of newbuilds currently ordered with alternative fuel systems.

This is double the 6% revealed by DNV’s 2019 Maritime Forecast report. However, less than 1% of ships currently in operation use alternative fuels, with the huge majority plying short-sea routes. 

DNV forecasts that total CAPEX for onboard technology investments required to satisfy IMO decarbonization ambitions will range from USD 250-800 billion (dependent on fleet size) between 2020 and 2050.

Note: The full Maritime Forecast to 2050 report is available for download here.

 

Photo credit: DNV
Published: 1 September, 2021

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Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

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July 21, 2026

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Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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17 hours ago

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July 21, 2026

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RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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