How is the global shipping industry changing tack and setting a sustainable new course for a net-zero future? Which alternative fuels are emerging as the low-carbon favorites among shipowners – LNG, green methanol, ammonia, biofuels or even electricity? And to what extent will the European Union’s Emissions Trading System and its FuelEU Maritime legislation overlap with regulations introduced by the International Maritime Organization?

The global shipping industry is estimated to consume about 270 million tonnes of fuel per year, emitting 850 million tonnes of CO2 or about 2% of greenhouse gas emissions worldwide. The IMO unveiled a new target last year for the shipping industry to reach net-zero emissions by or around 2050 – an ambitious goal, to say the least.

Unsurprisingly, emissions were very much in focus at the 81st session of the IMO’s Marine Environment Protection Committee (MEPC81), held in March, although no concrete decisions were made. At the next session, however – MEPC82 in October – the IMO aims to reach consensus on economic and technical measures to reduce emissions. Options on the table will include operational efficiency improvements, vessel and technology upgrades, and a shift to low-carbon and renewable fuels.

You’ve probably heard the old maritime adage “between the devil and the deep blue sea”, which refers to the dilemma of having to choose between two equally unappealing options. Those who join us later this week for the May edition of Rystad Talks Energy will hear that the options to choose from are decidedly more alluring when it comes to the shipping industry’s energy transition.

Rystad Talks Energy on 30 May will focus on shipping and the potential for reducing the industry’s environmental footprint. We are truly honored to be joined by Torben Nørgaard, Chief Technology Officer for Energy & Fuels at the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, who will share his perspectives on the path that lies ahead for the shipping industry in the context of the energy transition.