Nikkei Asia: Eddison Lee On Green Maritime Fuels
February 04, 2024
The shipping industry is steadily moving toward cleaner fuels, following a new European Union rule that requires large shippers to submit emission certificates.
Despite so, Eddison Lee, principal, Energy and Natural Resources at Oliver Wyman, notes that "the 'chicken-and-egg' conundrum still remains, especially given the large capital outlay requirement to build the end-to-end alternative fuels ecosystem."
Oliver Wyman expects over 200 methanol-powered vessels to be operational within the next decade. Supply of alternative fuels however remains limited, with only about 2 million tons yearly of green methanol, ammonia and hydrogen available, representing less than one percent of global demand.
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