Specifically, the most important parts of the outlook, are:

  1. 2030 targets can be met with available technology – slower speeds, improvements in operational efficiency, limited use of low-carbon fuels, and energy efficient designs.
  2. Fuels are in focus to achieve 2050 emissions targets. Our conceptual designs confirm that the fuel technology today does not meet the 2050 demands.
  3. There will be challenges involved with scaling alternative fuels. To fully understand what it will take to adopt alternative fuels globally, we can compare to LNG as fuel. It has taken ten years for LNG bunkering infrastructure to develop and supply less than 1% of the global fleet. Other alternative fuels will face similar infrastructure development, regulatory and supply chain challenges.

To fully understand what it will take to adopt alternative fuels globally, we can compare to LNG as fuel. It has taken 10 years for LNG bunkering infrastructure to develop and supply less than 1% of the global fleet. Other alternative fuels will face similar infrastructure development, regulatory and supply chain challenges.

... ABS commented.

In addition, Christopher J. Wiernicki, ABS Chairman, President and CEO added that the Outlook was published to provide information in the shipping industry, concerning a 'cleaner' future.

Gurinder Singh, ABS Director of Sustainability highlighted that the alter to a low-carbon and clean-emissions future is a challenge for the shipping sector, as the latter has to find solutions on being commercially viable, technically feasible and safe.

Mr Singh concluded

The reduction targets for 2030 are challenging but, as they are a measure of carbon intensity, they allow for trade growth. However, any measures taken to meet those goals must also consider 2050 targets if they are to account for the growth in trade and transportation demand while reducing GHG emissions. This will require new technologies.

For more information on the Outlook, click here.