DNV has highlighted current and upcoming maritime regulation developments for the 2020s decade.
In its recent ‘Maritime Energy Transition Summit’ webinar held on 8 February, DNV noted that the International Maritime Organization (IMO) is a significant driver in the regulatory area, dealing with environmental and regulatory challenges.
The updated IMO GHG Strategy includes an expanded common goal of achieving net-zero GHG emissions from international shipping ‘by or around 2050‘, with preliminary check-points for 2030 and 2040.
Eirik Nyhus, DNV’s Director of Environment for Maritime, stated that the IMO’s target for 2030 is to reduce GHG emissions by 20 per cent.
He highlighted that the IMO’s 2040 ambitions is to further reduce GHG emissions by 70 per cent.
Nyhus believes that this will all drive the regulatory development in the maritime industry. He indicated that new IMO regulations are set to be announced in 2027, the same year that the GHG intensity fuel standard would be imposed.
This GHG fuel standard will reportedly be discussed among IMO members to determine the footprint and acceptable impact of fuel used in marine engines.
“The 2020s is set to be an impactful decade for the maritime industry,” emphasized Nyhus.
Nyhus further revealed that a conceptual agreement for the aforementioned regulatory adjustments is set to take place in March 2024.
The fundamental goal of the FuelEU maritime, which is set to go into effect in 2025, is to increase the use of renewable and low-carbon fuels and reduce GHG emissions while ensuring the smooth operation of maritime traffic and preventing internal market distortions.