Attendees from across the maritime value chain took part in the DNV – Fuel of the Future conference. Aiming to advance the idea that collaboration is the key to success in decarbonizing the maritime world, the event attracted more than 6,500 registrants and brought together a full range of shipowners, energy majors, donors funds and regulators who offered their unique insights into how shipping can chart the optimal route ahead.
Decarbonization is the great challenge of our time – unprecedented in its scale, complexity and ramifications for the world. This was also the crucial question of this week’s DNV conference: how do major shipping companies break down silos and put aside competition to build a more sustainable future for shipping?
Opening the event, DNV Group President and CEO Remi Eriksen highlighted the progress that had been made at the recent COP26 summit in Glasgow and the challenges ahead: “There is now an explicit plan to reduce the coal and phase out subsidies that lower the price of hydrocarbons, and a plan to cut methane emissions by 30% by 2030 has been agreed by more than 100 countries. New commitments to net zero by mid-century mean 90% of the global economy is now covered, but major challenges remain.
Knut Ørbeck-Nilssen, CEO of DNV Maritime, underlined that decarbonisation is a task that no player, not even a single industry, could tackle in isolation: “We need infrastructure, energy, of technology, understanding, regulation and financial support this is only possible when everyone is bending down, striving towards the same goal. At DNV, we are committed to playing our part. Our vast knowledge, skills and industry expertise allow us to act as a trusted partner to enable progress in multiple areas, but also to bring people together.
Søren Toft, CEO of MSC, presented the shipowner’s perspective saying: “We need partnerships with shipping and value chain stakeholders, including fuel producers, engines and shipyards. When we do this, we will capitalize on the knowledge of these players, as we don’t believe we have all the answers ourselves. And we believe that shipping must and can become completely decarbonized by 2050. At MSC, we have already come a long way, having reduced our relative C02 emissions by 44% since 2008.”
During the interview, Marthe Lamp Sandvik, VP Ocean Industries at DNB Bank, spoke about the role of finance in the energy transition: “To have an impact, sustainable finance must be inclusive to lead everyone in the right direction. collectively. When we look at the industry today, it is asset heavy, it has great potential for reducing emissions. It is important that there is a balance between maintaining the integrity of the product and maintaining the quality of the data and reports. So it’s a very important balance and it’s not necessarily easy to find.
During the roundtable, Jan Dieleman, President of Cargill Ocean Transportation and Chairman of the Steering Committee of the Sea Cargo Charter Association, stressed that a common understanding was essential: “It gets a little more complicated with new fuels and technologies , where at the end of the day, a green premium must be paid. This is the area we are focusing on, for example through the Maersk McKinney Moeller Center for Zero Carbon Shipping and the Global Maritime Forum, but we are also talking with owners to see what we can do together. We are also working to establish industry benchmarks. I think it’s very important that we all speak the same language, because the world of shows is very complex.
Melissa Williams, SVP Shipping & Maritime, Shell, explained the oil major’s collaborative approach: “We take a customer-driven approach, helping them understand the potential change in the landscape and its impact on the future. fuel supply. We are also undertaking an extensive R&D program focused on fuel risk reduction, examining vessels and infrastructure to bring fuel to market.
Sveinung Oftedal, Specialist Director at Norway’s Ministry of Climate and Environment, explained how collaborations are turning into contracts: “We see a shift from business-to-business collaborations to business-to-business contracts, and that’s where we want to go. . We also see it when it comes to collaborations between governments which turn into contracts between governments, that is to say global agreements but also regional agreements. The firmest at the moment is the regional agreement launched by the European Commission, the EU Fit for 55. This change will continue.
Knut Ørbeck-Nilssen concluded: “Sentiment has changed significantly in the shipping industry, even compared to a few years ago. Today is not just about having strong statements for the future. There is a real will to do something for decarbonization. Norway’s Eco-Shipping program is a good example of this, bringing together public and private partnerships and testing new technologies and fuel types. This is so important, because how are we going to move forward if we don’t test new solutions and pilot them in safe environments. So I think there’s real momentum building now, but we need to stay focused on creating the next steps, rather than just focusing on the end game.
The DNV – Future Fuel conference was a free virtual event and was recorded. To access the full recording, please click here: https://www.dnv.com/maritime/webinars-and-videos/on-demand-webinars/fuel-of-the-future.html
The products and services described in this press release are not endorsed by The Maritime Executive.