Decarbonisation opportunities

In the ‘Fuelling the Fourth Propulsion Report’ launched at the 2022 IAPH Conference, the ICS outlines how shipping will play a fundamental role in delivering net zero carbon fuels, acting as enabler for government and industry to achieve their climate targets.

Key takeaways from the ICS’s research are that:

• Producing (net) zero carbon marine fuels, especially close to ports, will create a significant opportunity for renewable energy producers.
• Shipping will have a multi-fuel future. No single fuel can replace current fossil fuels for maritime and decarbonising will require a mix of bio-fuels, e-fuels, natural gas and hydrogen derivatives.
• High demand for (net) zero carbon fuels presents opportunities for the global south but developing economies must move quickly to gain early mover advantage and will need support from the international community and access to finance.
• Renewable energy production of (net) zero carbon fuels provides economic opportunities for all.
• Stakeholders should invest in infrastructure and research, development and demonstration now or economic gains will be minimised.