A Korean Register of Shipping (KR) report has highlighted ammonia as a fuel with strong commercial potential as the maritime industry seeks new methods for emissions reductions
Korean Register’s techincal report, Forecasting the Alternative Marine Fuel - Ammonia, covers industry trends, relevant technologies and examines the future outlook for ammonia in the maritime sector.
The report also provides important details for shipowners and operators to consider, using a comparative analysis of the different types of carbon-neutral alternative fuels including bio-diesel, methane, hydrogen and methanol, in addition to ammonia.
The guide provides practical information at a time when low-emissions fuels are being looked to as an important part of meeting emissions reduction goals and regulations. IMO aims to reduce carbon dioxide (CO2) emissions by 40% by 2030, and 70% by 2050, and its Initial Strategy on Greenhouse Gas (GHG) Reduction from Ships aims to at least halve overall GHG emissions by 2050.
KR anticipates that to achieve these regulatory aims, there will be an increasing industry shift to ‘zero carbon’ or ‘decarbonised alternative fuels’.
Ammonia is seen by some in the industry as a fuel that has commercial potential though there remain hurdles to overcome involving funding and market proliferation of alternative fuels. In one recent study based on ammonia as the zero-carbon energy of choice, UMAS and the Energy Transitions Commission said the industry must secure at least US$1Tn to fund the technology needed to achieve the IMO goals.
Projects are already underway to find solutions. ShipFC, a Norwegian project has secured €10M (US$11M) in EU funding to install and trial the world’s first ammonia-powered fuel cell on a vessel.
The KR report cited a major benefit of ammonia as a fuel to be that it does not require a high degree of technical expertise when used as a renewable energy.
Korean Register’s technical report can be downloaded free of charge from the KR website.
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