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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

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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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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