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Shipping’s energy transition stifled by fuel business models

DNV GL forecasts a massive energy transition by 2050 that will see heavy fuel oil and marine gas oil lose significant ground and give way to carbon-neutral fuel as the biggest maritime energy source. However, Teekay Offshore Group chief executive Ingvild Saether warned the transition may be hindered by the reliance on oil majors to make the investments in the fuels

Teekay Offshore’s chief executive addresses the challenges of adopting cleaner fuels as DNV GL foresees big gains for LNG and LPG as fuels

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