DNV and RSI release study on decarbonizing Europe’s ageing short sea dry bulk fleet

DNV and RSI release study on decarbonizing Europe’s ageing short sea dry bulk fleet

(IN BRIEF) DNV and the Responsible Shipping Initiative have published a study on decarbonizing the short sea dry bulk fleet, revealing that limited incentives for smaller vessels are slowing progress toward IMO 2050 goals. Many ships in the ageing European fleet fall below the 5,000 GT emissions regulation threshold, reducing investment in low-emission designs. Funded in part by the Swedish Transport Administration, the study analyzes emissions baselines, cost impacts of green vessel adoption, and fleet renewal strategies. DNV’s Hannes von Knorring and RSI Chair Sebastian Tamm stressed the need for actionable short-term targets, improved contracting, and industry collaboration to align shipping with long-term climate goals.

(PRESS RELEASE) BÆRUM, 8-Aug-2025 — /EuropaWire/ — DNV, in collaboration with the Responsible Shipping Initiative (RSI), has released the study Decarbonization of the Short Sea Dry Bulk Fleet, co-funded by the Swedish Transport Administration. The research highlights that while Swedish cargo owners and charterers are committed to sustainable shipping, the absence of regulatory and financial incentives for smaller vessels is limiting progress toward the IMO 2050 decarbonization targets.

Europe’s short sea general cargo fleet is ageing, with many vessels approaching the end of their operational life and few replacements on order. Most fall below the 5,000 GT compliance threshold for international and EU emissions regulations, reducing the incentive for shipowners to invest in low-emission designs. This poses a strategic challenge for cargo owners—including RSI members EFO AB, Lantmännen, SSAB, Stockholm Exergi, and Södra—who rely on these ships to meet their climate objectives.

“A major barrier to adopting low-emission fuels is the uncertainty shipowners face around long-term costs and market demand,” said Hannes von Knorring, Principal Consultant and Global Cargo Owner Segment Lead at DNV Maritime. “Cargo owners may also lack clarity on fuel options and their impact on supply chain emissions. While smaller vessels are not yet regulated, they must begin reporting to the EU on emissions this year—creating an opportunity to collect data and set measurable targets. RSI’s mission to share knowledge, establish standards, and align industry priorities is one we are proud to support.”

The study was organized into three work packages:

• WP1 created emissions baselines for RSI members using AIS-based modeling to identify high-impact cargo segments for green fleet renewal.
• WP2 analyzed the cost implications of introducing green ships, calculating the “green premium” for e-methanol versus marine gas oil (MGO), and examined measures such as government support and improved efficiency. Stakeholder workshops included shipowners and fuel providers.
• WP3 applied a fleet renewal model to assess the replacement pace needed to meet climate targets, alongside alternative strategies like biofuel blending and operational efficiency improvements.

Sebastian Tamm, Chairman of RSI and Manager Logistics Development at EFO, added: “Through RSI, we have long promoted responsible shipping with a focus on working conditions, health, and safety. Since the COVID lockdown, we have turned more attention to decarbonization. However, short-term Contracts of Affreightment limit shipowners’ ability to invest in radically different vessels. This study emphasizes the importance of turning long-term climate ambitions into actionable short-term targets to support planning, investment, and compliance.”

Media Contact:

Margrethe Andersen
Head of External Communications, Maritime
Phone: +47 47 68 22 89
margrethe.andersen@dnv.com

SOURCE: DNV