Assessing impacts of EU and US policies on accelerated deployment of alternative maritime fuels

Bettles, J.; Perez, A.; Åhlén Björk, S.; Barcarolo, D.; Hintze, M.; McKenna, B. (2024). Assessing impacts of EU and US policies on accelerated deployment of alternative maritime fuels. Report by Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.

@techreport{Bettles-2024-,
author = {Bettles, J and Perez, A and Åhlén Björk, S and Barcarolo, D and Hintze, M and McKenna, B},
title = {Assessing impacts of EU and US policies on accelerated deployment of alternative maritime fuels},
institution = {Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping},
year = {2024},
month = {jan},
url = {https://www.zerocarbonshipping.com/publications/assessing-impacts-of-eu-and-us-policies-on-accelerated-deployment-of-alternative-maritime-fuels},
keywords = {Hydrogen, Ammonia, Methanol, Methane (Natural Gas), Heavy Fuel Oil (HFO), Electrochemical, Policy, Strategy and Transition Pathways, Markets and Forecasting, Ocean-going Vessels},
}

TY - RPRT
TI - Assessing impacts of EU and US policies on accelerated deployment of alternative maritime fuels
AU - Bettles, J
AU - Perez, A
AU - Åhlén Björk, S
AU - Barcarolo, D
AU - Hintze, M
AU - McKenna, B
AB - This report examines the significant potential impact of the US and EU’s evolving climate policy landscape on maritime decarbonization. We investigate the investment implications of three pivotal policy developments:1. The subsidies in the US Inflation Reduction Act (IRA) that can reduce alternative fuel costs.2. The EU Emissions Trading System (ETS) and the FuelEU Maritime Regulation which progressively raise the costs of conventional fossil fuels.3. The FuelEU pooling mechanism designed to reward early investment in advanced green technologies. While EU and US policies will drive a range of behaviors including energy efficiency, this analysis is focused on the uptake of the alternative fuels identified in the Maritime Decarbonization Strategy as key pathways to reaching net-zero targets.1 We first evaluate the impacts of each policy on key alternative fuel pathways, and then look at the combined impacts for transatlantic routes where both EU and US policies overlap and create opportunities for the shipping industry to test and scale alternative technologies. We provide actionable insights aimed at fuel producers, shipowners and operators, and cargo owners, and highlight where existing policy can drive near-term action.
DA - 2024/01//
PY - 2024
SP - 1
EP - 28
PB - Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
UR - https://www.zerocarbonshipping.com/publications/assessing-impacts-of-eu-and-us-policies-on-accelerated-deployment-of-alternative-maritime-fuels
LA - English
KW - Hydrogen
KW - Ammonia
KW - Methanol
KW - Methane (Natural Gas)
KW - Heavy Fuel Oil (HFO)
KW - Electrochemical
KW - Policy, Strategy and Transition Pathways
KW - Markets and Forecasting
KW - Ocean-going Vessels
ER -