The transition of the global fleet to lower greenhouse gas emissions is a significant challenge. Beyond the difficulties in securing the necessary new fuels, shipping companies face complex and critical decisions within a short timeframe. They must determine the best way to adapt or renew their vessels. Since ships typically have a lifespan of 20–25 years, the transition cannot rely solely on replacing vessels as older ones are phased out and scrapped. There will also be a need to retrofit part of the existing fleet.

The decision on whether retrofitting a ship is worthwhile is often based on the payback period. However, including the climate accounting for the two options—retrofit or newbuild—can provide a different perspective. Retrofitting existing ships, for example, from diesel engines to run on gas or methanol, has so far only been implemented to a limited extent. This is due to both the high costs and the technical challenges involved in the process.

This evening's session will explore the retrofit of a ship from diesel to methanol operation, featuring insights from both the shipping company and the engine manufacturer.

You will also be introduced to an innovative tool designed to help shipping companies evaluate the climate impact of retrofitting an existing vessel versus constructing a new one. We'll discuss how this tool has been applied in real-world decision-making within a shipping company, offering practical insights into its effectiveness.

Finally, we will delve into an empirical study examining the performance of energy efficiency technologies retrofitted on containerships, providing valuable data and analysis on their impact on operational efficiency.