Nor-Shipping 2025: Shipping executives warn of long road to zero-emission fuels

Shipping executives are warning that the transition to green and zero-emission fuels will be a long and difficult one even with new goals being set by the International Maritime Organization.

Speaking at the 2nd Maritime Leaders’ Summit, in Oslo, sponsored by Capital Link and DNV in conjunction with the 60th Nor-Shipping conference and exhibition, the executives worried that infrastructure and financing for fuels transition is currently lacking.

The panelists addressing the issue “GREEN SHIPPING – IS IT STILL ON?” included the following:

Moderator: Ms. Cristina Saenz de Santa Maria, COO – DNV Maritime and:

• Capt. Saif Al Mheiri, CEO – Abu Dhabi Maritime; Chief Sustainability Officer
• Ms. Semiramis Paliou, CEO – Diana Shipping Inc.
• Mr. Andreas Enger, CEO – Höegh Autoliners ASA
• Mr. Weng Yew Hor, CEO & Managing Director – Pacific Carriers Limited.
• Ms. Charis Plakantonaki, Chief Strategy Officer – Star Bulk Carriers Corp.

Pacific Carriers’ Hor worried that supply and safety issues are still unresolved and said the training of crews was critical. He said retrofitting engines could be a path forward, but the choice of ultimate fuel was still not resolved.

Diana’s Paliou echoed Hor’s concerns noting that dry bulk carriers were adopting a wait and see approach and said that regulations needed to be practical for shipowners to make long-term investments. She expressed an interest in carbon capture as a strategy but noted the technology was still at “a primitive state.”

Star Bulk Carriers’ Plakantonaki, said that much progress can be made toward decarbonization by upgrading fleets. This can be achieved through new more efficient engines, as well as new shipbuildings, drydockings, and hull maintenance. She said that improved fuel efficiencies could also be derived from AI weather routing for ships. She also expressed an interest in wind assisted propulsion which she believes has great potential.

Höegh Autoliners’s Enger said accelerated decarbonization goals established by the International Maritime Organization (IMO) are an important achievement to increase installations of green fuels on vessels if cargo carriers “are on board”. Even so, he said “It will take decades, but we know what to do.” The increasing availability of ammonia fuel in the Gulf of Mexico and elsewhere helps provide the fuel supply base for that fuel and noted that ammonia is a scalable fuel.

Abu Dhabi Maritime’s Saif Al Mheiri said, “We are in a chicken and egg situation” and argued that the transition is not imminent and expected more progress after 2050. The questions are: 1) what fuels will be available and 2) what will be the price.