Shipping's Zero-Emission Fuel Goals at Risk
PORTS & SHIPPING

Shipping's Zero-Emission Fuel Goals at Risk

The global shipping industry is falling short of its target to have zero-emission fuels make up 5% of international shipping fuels by 2030, posing a threat to its 2050 decarbonisation objective, as revealed by a recent analysis. The assessment, unveiled at the Global Maritime Forum's annual summit in Athens, indicates that the current scalable zero-emissions fuel (SZEF) production in the pipeline would only cover a quarter of the required fuel by 2030.

Furthermore, the delivery of zero-emission vessels is lagging. By the end of 2022, there were 24 ships capable of running on SZEF, primarily methanol, with another 144 on order. However, current orders amount to just one-fifth of what is necessary to meet mid-term goals, according to the report, conducted by the UMAS consultancy, which includes experts from the University College London Energy Institute.

Kathryn Palmer, the shipping lead of the U.N. COP Climate Champions, emphasised that the current progress is insufficient in terms of scale and pace, underscoring the need for demand and supply actors to collaborate on implementing specific solutions.

Global shipping is accountable for approximately 3% of the world's greenhouse gas emissions resulting from human activities. The International Maritime Organisation revised its greenhouse gas strategy this year, setting a 5% target while also urging the industry to aim for 10% zero-emission energy in international shipping fuels by the end of the decade. Achieving this goal would require about 5.3 million metric tons of hydrogen, 29.8 million metric tons of ammonia, or 28.1 million metric tons of methanol by 2030. The industry is estimated to have to invest approximately $40 billion annually in SZEF bunkering and production.

The global shipping industry is falling short of its target to have zero-emission fuels make up 5% of international shipping fuels by 2030, posing a threat to its 2050 decarbonisation objective, as revealed by a recent analysis. The assessment, unveiled at the Global Maritime Forum's annual summit in Athens, indicates that the current scalable zero-emissions fuel (SZEF) production in the pipeline would only cover a quarter of the required fuel by 2030. Furthermore, the delivery of zero-emission vessels is lagging. By the end of 2022, there were 24 ships capable of running on SZEF, primarily methanol, with another 144 on order. However, current orders amount to just one-fifth of what is necessary to meet mid-term goals, according to the report, conducted by the UMAS consultancy, which includes experts from the University College London Energy Institute. Kathryn Palmer, the shipping lead of the U.N. COP Climate Champions, emphasised that the current progress is insufficient in terms of scale and pace, underscoring the need for demand and supply actors to collaborate on implementing specific solutions. Global shipping is accountable for approximately 3% of the world's greenhouse gas emissions resulting from human activities. The International Maritime Organisation revised its greenhouse gas strategy this year, setting a 5% target while also urging the industry to aim for 10% zero-emission energy in international shipping fuels by the end of the decade. Achieving this goal would require about 5.3 million metric tons of hydrogen, 29.8 million metric tons of ammonia, or 28.1 million metric tons of methanol by 2030. The industry is estimated to have to invest approximately $40 billion annually in SZEF bunkering and production.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?