The Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (11 June) said a survey found 77% of shipowners and operators now consider achieving net zero a high priority in their strategy, up from 73% two years ago.

This was among the findings of the second edition of the Global Maritime Decarbonisation Survey, jointly conducted by GCMD and Boston Consulting Group (BCG) between October 2024 and February 2025.

The survey gathered 114 responses from shipowners and operators across a range of vessel types, fleet sizes, and regions. While the survey was conducted before the International Maritime Organization’s (IMO) MEPC 83 session in April, its findings already reflected sustained commitment across the industry. The outcomes of MEPC 83—introducing new regulatory targets and incentives—are expected to reinforce these ambitions and further accelerate momentum.

Survey results show that 60% of respondents have now set net-zero targets (up from 54%), while the use of bio-blended fuels has more than doubled to 46%, and methanol use has increased from 3% to 6%. However, uptake of more nascent technologies—such as ammonia, wind-assisted propulsion systems, solar panels, super-light ships, and air lubrication—remains limited.

The survey also reflects the industry’s desire for policies and regulations to create a level playing field. Nearly three-quarters of respondents identified either compliance measures or financial incentives as the most important policy objectives. A level playing field will ensure that early adopters are not competitively disadvantaged on cost and stakeholders with limited resources can benefit from financial support to overcome economic barriers.

The survey also gathered insights from key bunkering ports, whose support is critical for maritime decarbonisation. Most surveyed ports have roadmaps and dedicated teams focused on initiatives to facilitate maritime decarbonisation, and all of them, namely Port of Antwerp-Bruges, Port of Long Beach, Port of New York and New Jersey, Port of Rotterdam, and Port of Singapore, offer green incentives. 

A significant concern for ports, however, is the lack of demand certainty from shipping companies for both low-carbon fuels and Onboard Carbon Capture Systems (OCCS). This ‘chicken-and-egg’ dilemma hinders ports to take on the investment decision to develop the requisite infrastructure, though the recently introduced GHG pricing mechanism is expected to strengthen demand signals for low-carbon fuels.

Dr Sanjay C Kuttan, Chief Strategy Officer of GCMD, said, “Positive developments in maritime policy, especially from the IMO, which further tighten limits on GHG emissions, along with the increased ambitions voiced by survey respondents, are encouraging signals. Greater cooperation with the ports and pertinent stakeholders across the various value chains will be required to address challenges across the broader ecosystem. With the right investments and collaborative actions, the maritime industry can chart a course to a future where sustainable decarbonisation and commercial success can co-exist.

Anand Veeraraghavan, Managing Director and Senior Partner of BCG, said, “It is encouraging to see that even in the face of global uncertainties, the maritime industry’s decarbonisation ambitions remain intact and steadfast. The recent MEPC outcomes mark a pivotal step forward, sharpening demand signals with incentives for exceeding compliance goals and penalty mechanisms for shortfalls. Now is the time for the industry—both ships and ports—to build on this momentum.

Note: The second edition of the GCMD–BCG Global Maritime Decarbonisation Survey report can be viewed here. 

Photo credit: Lukas Blazek on Unsplash
Published: 12 June, 2025

Demand for advanced propeller retrofits and energy saving devices (ESDs) has nearly quadrupled since 2020 as shipping owners and operators look to enhance energy efficiency to meet tightening emissions regulations. 

However, according to The Energy Saving Devices Retrofit Report from Lloyd’s Register (LR), while high-efficiency propellers can deliver fuel savings of between 3-10%, and popular devices such as rudder bulbs can achieve 3.5% reductions, only 1.74% of the global fleet currently features the rudder bulb, the most popular device, from newbuild.  

The orderbook tells a different story, with 8.42% of vessels on order choosing to install ESDs. The proportion of vessels on the orderbook fitted with a particular device is between two and six times higher than for those vessels already in service. 

The report identified bulk carriers, tankers and container ships as prime candidates for retrofitting, with these vessel segments showing the highest adoption rates due to their substantial fuel consumption profiles. Notably, 16.87% of bulk carriers on order will feature rudder bulbs compared to just 6.74% of the existing fleet. In the container ship segment, rudder bulbs, stator fins, and boss cap fins are each present on at least 10% of vessels (existing fleet and orderbook). 

In total, more than 10,000 vessels in the existing fleet and orderbook feature some form of propulsion energy-saving technology from newbuild. Added to this are at least a further 1,400 vessels that have had ESDs retrofitted since 2020. The number of installations on existing vessels is growing, showing nearly four-fold growth since 2020, with close to 1,500 vessels contracted to be fitted with devices by the end of 2024. 

The report also reveals a trend towards retrofitting newer vessels, with more than one-third of 2024 retrofits performed on ships less than ten years old, compared to just 16% in 2020. By 2024, 12% of retrofits were performed on vessels built less than six years ago, a category that saw no retrofits in 2020. 

Regulatory pressure is identified as the primary catalyst driving this surge in retrofits. The IMO’s Carbon Intensity Indicator (CII) and GHG strategy, combined with European regulations including the EU Emissions Trading System and FuelEU Maritime, directly link vessel performance to financial penalties. LR’s analysis projects that a 20% fuel consumption reduction could save an Aframax tanker operator nearly US$3 million over ten years through reduced exposure to European regulations alone.  

Despite the benefits, the research highlights challenges in retrofit selection and implementation. Many operators struggle with technology selection due to potential interactions between different devices, unverified performance claims, and incomplete understanding of vessel-specific requirements. The report notes that some highly promising technologies fail during full-scale validation despite excellent model test results. 

Biofouling is also identified as a threat to retrofit performance, with marine growth on propeller blades and ESDs potentially negating efficiency gains through increased surface roughness and altered hydrodynamic profiles.  

To address these challenges, LR recommends a five-step approach encompassing comprehensive vessel assessment, hydrodynamic analysis using computational fluid dynamics, careful consideration of technical factors including torsional vibration and underwater radiated noise, robust performance monitoring, and long-term maintenance planning. 

Claudene Sharp-Patel, Global Technical Director at Lloyd’s Register, said: “Our research reveals that propeller and ESD retrofits offer ship operators a proven pathway to significant fuel savings, extended regulatory compliance, and meaningful emissions reductions. 

“However, successful propeller and ESD retrofits require far more than simply bolting on additional equipment. They demand sophisticated analysis, careful integration with existing systems, and ongoing performance management. Our role extends throughout the entire retrofit journey, from initial assessment through long-term optimisation.”

The Energy Saving Devices Retrofit Report forms part of LR’s Retrofit Research Programme, which combines with LR’s Fuel for Thought series to provide industry-leading insights into adapting existing vessels for cleaner and greener shipping. 

Note: The Energy Saving Devices Retrofit Report can be viewed here. 

Photo credit: william william on Unsplash
Published: 5 June, 2025

Estonia, one of the Northern European leaders in maritime green technologies and ship retrofitting, on Thursday (29 May) said it has launched a EUR 25 million (USD 29 million) government grant designed to encourage the reconstruction and greening of passenger and cargo ships, tugboats and other port and auxiliary vessels in Estonian ports.

This makes Estonia one of the few countries in Europe offering direct financial support in the form of state aid for ship retrofitting. The new grant, enacted by Estonia’s Minister of Infrastructure, Kuldar Leis, provides shipowners and operators with subsidies covering 15% to 30% of eligible retrofit costs, up to a maximum of EUR 5 million per project. For instance, in order to qualify for a 30% support rate, the vessel must be converted into a zero-emission ship. Additionally, factors such as the ship’s flag state and how frequently it visits local ports also influence the rate of support. 

“Global demand for cleaner maritime transport is growing rapidly. Estonian marine industry companies have the expertise and experience to deliver world-class retrofit services and support shipowners in making their fleets more environmentally friendly,” said Minister of Infrastructure Kuldar Leis. 

“From design and technical consulting to implementation and maintenance, Estonian ports offer convenient and efficient hubs for retrofit projects.”

For maritime companies looking to modernise their fleets, the grant creates a significant incentive to adopt greener solutions such as installing hybrid engines, adopting equipment powered by renewable fuels, or implementing exhaust gas cleaning systems. Other innovations that reduce pollution and improve energy efficiency are also eligible for support.

“This grant program marks a key milestone in Estonia’s drive toward greener, more sustainable maritime practices. By supporting the adoption of innovative technologies, we are helping maritime operators reduce their environmental footprint and prepare for future challenges,” said Kaupo Läänerand, Deputy Secretary General for Maritime and Water Affairs at the Estonian Ministry of Climate. 

“With the maritime sector now included in the EU Emissions Trading System, this measure helps channel revenues collected from shipowners back into supporting their transition to greener technologies.”

As stricter environmental regulations loom, the need for ships capable of operating with hydrogen and electric propulsion systems, carbon capture technologies, and advanced software solutions is set to grow. Estonia is prepared to meet this demand through the Estonian Marine Greentech & Retrofit Hub — a one-stop solution offering comprehensive services for green ship retrofitting.

Note: The grant is subject to the conditions available on the website of the Estonian Environmental Investment Centre.

Photo credit: CHUTTERSNAP from Unsplash
Published: 26 May, 2025