Odfjell has set an ambitious goal of achieving net-zero absolute emissions by 2050. Reaching this target is a complex process, influenced by several factors: 

• The reliance on external developments, including the availability and adoption of new low- and zero-carbon fuels. 

• The timeline for phasing out older vessels and replacing them with ships equipped with advanced technologies. 

• Uncertainties in fuel pricing, infrastructure readiness, and the pace of global regulatory developments. 

We expect the most substantial reductions in absolute emissions to occur closer to 2050, as alternative fuels become widely available and well-to-wake emissions from traditional fuels decline. Traditional fuels release large amounts of greenhouse gases at every stage: extraction, refining, and transport to combustion at sea. In contrast, alternative fuels such as green ammonia, green methanol, biofuels, or hydrogen can be produced with far lower emissions, and in some cases, achieve net-zero when used. 

Over time, older and less efficient vessels will be retired, making way for a fleet dominated by state-of-the-art, low-emission technologies, such as Odfjell’s recent installation of suction sails to harness wind power, reducing traditional fuels. However, until then, intensity-based targets remain a practical and measurable tool for driving operational efficiency and delivering continuous, year-on-year improvements.  

Want to read more about our climate targets? - read our Transition Plan