The 2020s is proving to be the decisive decade for the decarbonization of shipping. The maritime industry must explore all possible ways of reaching decarbonization goals. Regulations from key bodies like the IMO and EU are taking shape, driving industry stakeholders to implement plans now which will influence the direction of decarbonization efforts in the coming decades. In July 2023, the IMO completed the first revision of its greenhouse gas (GHG) strategy, significantly strengthening the ambitions for international shipping compared with the initial goal for a 50% GHG reduction by 2050. Achieving decarbonization goals requires a large-scale transition to new fuels, which is already underway. The stats reveal that shipping would need 30-40% of the estimated global supply of carbon-neutral fuels if it is to meet expected demand of 17 Mtoe per year by 2030. The Maritime Forecast to 2050 recommends several energy efficiency measures which can deliver decarbonization results now, while also contributing to reductions in demand and price pressure in the future. These include speed reduction, route optimization, increasingly digitalized systems, wind-assisted propulsion, air lubrication systems, onboard carbon capture and storage (CCS), and nuclear propulsion.