Site items in: Global

IMO drives forward net-zero agenda

The IMO’s Maritime Environmental Protection Committee has made significant strides towards implementing its net-zero agenda. The IMO is seeking to implement a fuel standard supported by a pricing mechanism. While many details remain unresolved, important steps forward have been made on emissions boundaries, flexibility elements and default value calculation. The goal of launching policy measures by the end of 2025 remains ambitious, but the IMO has sent a clear signal that it is committed to its net-zero roadmap.

World Bank: new roadmap for scaling project finance

A new report from the World Bank and partners proposes a series of levers to help bridge the finance gap for clean hydrogen production projects. Although clean hydrogen projects emerging markets and developing countries account for 40% of the global pipeline and could attract investment of up to $100 billion per year, a significant finance gap exists to push these projects to “FEED-plus”.

Target top regional fuel ports, spend $2 trillion to enable ammonia marine fuel by 2050

New Oxford research finds that over 60% of global shipping fuel demands could be met by renewable ammonia in 2050, which can be achieved by targeting renewable ammonia fuel supplies at the “top 10 regional ports”. The team also predicts that conventional maritime fuel production could be replaced by a more “regionalised industry”, producing up to 750 million tons of renewable ammonia per year in tropical and sub-tropical countries.

New Year’s message from the AEA President

As another year passes, AEA President Hans Vrijenhoef looks back on the successes of the year just past. Ammonia energy is now firmly on the radar in Europe - including the first projects dedicated to power generation. And, with so many import/export projects underway, now is the time to collaborate and kick start the growth of the industry.

Order book for alternative-fueled vessels grows in 2023

Clarksons Research and DNV have provided their analysis of global ship orders for 2023. Last year saw the first orders for ammonia-fueled vessels, with container ships & car carriers dominating the order book for alternative fuel propulsion ships. But UMAS & the Global Maritime Forum warn that the current order book trajectory may only be a fifth of what is needed to achieve the IMO’s 2030 target for alternative fuel uptake.

The path ahead for marine ammonia fuel: 2024 and beyond

For our final episode of Maritime Ammonia Insights, we take stock of the progress of marine ammonia fuel to date, and ask what comes next. Meet Fürstenberg Maritime Advisory to learn about upcoming key decision points at the IMO, communications strategies for marine ammonia, current safety gaps, and priorities for 2024 as we work towards the first demonstrations of marine ammonia fuel.