The shipping industry has the potential to achieve substantial greenhouse gas (GHG) emissions reduction, provided a viable strategy is developed and adopted from within the industry itself, according to classification society DNV GL.
In a report assessing the potential for GHG emissions reduction from shipping towards 2050, based on a new computational model, DNV GL said that various scenarios for both individual ship segments and the industry as a whole, as well the effectiveness of various solutions for reducing GHGs, can be evaluated.
“Despite the challenges facing our industry, we believe it is technically possible for shipping to achieve substantial GHG reductions,” Christos Chryssakis, Group Leader Energy Efficiency & Fuels at DNV GL, said.
“But for such a strategy to be both successful and minimally disruptive, it should recognise the differences between the various shipping segments and the need to develop appropriate solutions for different ship types, sizes and types of operation,” Chryssakis added.
According to DNV GL’s report, the level of reduction will depend on the availability of the technological solutions in each segment, their reduction potential and rate of uptake. In turn, uptake will depend on the cost and expected payback of each technology, combined with the investment horizon of ship owners.
“We have developed the model to be useful for many different stakeholders,” continues Chryssakis.
“From ship owners trying to identify optimum solutions, authorities developing strategies and supporting mechanisms for cutting emissions, through to policy makers looking for reduction strategies on a global level, the model can promote informed decision making to ensure that shipping remains the world’s largest and most environmentally friendly transport sector,” Chryssakis concluded.