Namely, almost 60% of respondents said they consider hydrogen and ammonia as the most attractive fuel choices in the long-term.

The survey also revealed nearly two thirds of owners currently have no decarbonization strategy in place.

When asked which fuel is most likely to be adopted in the near term, 70% selected fuels in the light gas pathway, which includes LNG in the short term and hydrogen as a future solution.

It is clear that the industry views both hydrogen and ammonia as the long-term destination but sees LNG as having a big role to play in addressing the regulatory challenge immediately in front of us

stated Georgios Plevrakis, ABS Global Sustainability Director.

He added that based on the fuel pathways that we have identified and can shape the future of marine propulsion, hydrogen and ammonia are solutions that are expected to contribute to the reduction of carbon emissions in the long term.

A separate survey showed the vast majority are routinely using the ratings in their business decision making. Around 80% agreed or strongly agreed that GHG ratings were an important factor in their business decision making. And nearly half said they had already begun implementing options for GHG rating improvement.

“As shipowners and operators look to improve their environmental ratings to both maintain and attract potential charters, they face complex decisions on how best to identify, report and reduce GHG emissions

commented Lefteris Karaminas, ABS Global Sustainability Manager.

He also mentioned that owners taking advantage of accelerated GHG rating improvement options like the non-permanent Engine Power Limitation (EPL) are finding the benefits only temporary, as other vessels in the peer group take on improvements or new more efficient vessels enter the peer group.

For this reason, Mr. Karaminas notes that it will be necessary to consider alternative options, including combinations, in order to remain competitive and increase their ratings in the long term.