The only realistic option to reach this situation is a general German victory in the Great War on land and at sea, not only one of them, as the UK as a whole had to be beaten in this scenario (as well as all other allies naturally).
This could German win could be theoretically won by starving the UK to the negotiationtable by the unrestricted U-Boote campaign as well as keeping up the presure on the Western Front. This presure would demand more supplies shipped from oversea to the front, which in itself was countered by the unrestricted submarinewarfare. Both France and the UK needed those supplies badly, as did the US forces later in the war, when ariving at the front finally.
Since these supplies had to come from Britain mainly, as this was closest to the Western Front and took the shortes route, it was the easiest to blockade. Shipping supplies and men to Southern France first took too much time, which was at a disadvantage for the Allies. So no big navalbattles and no losses in warships other than small combatants and U-Boote at best for Germany, while the Allies might loose an occasional battleship to a U-Boot. The Hochseeflotte would likely have to remain as a fleet in beeing inside its port, while the offensive on land and by the U-Boote was the priority.
Naturally the Royal Navy would not be delivered to Germany as in the OTL the visa versa happened with the Hochsee Flotte, but politically the loss of the Fleet for Brtiain would lead to German superiority at sea, since the USN still was not a force it was later to become and perhaps even never would, due to the possibility of severe damage to its own shipping, when Germany would continue to wage war against the USA and blockading its ports with a U-Boote fleet. With no commercial shipping the USA woudl certainly be affected and propably try to end the war it no longer could win on its own, due to lack of bases in Europe.
After such a strategic win, Germany was in a good possition to dictate its demands on worldaffairs, including a forced reduction of likely opponents at sea or on land.