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Comparative Life Cycle Assessments and Economic Analyses of Alternative Marine Fuels: Insights for Practical Strategies

Journal Article

Title: Comparative Life Cycle Assessments and Economic Analyses of Alternative Marine Fuels: Insights for Practical Strategies
Affiliation:
Gyeongsang National University, Korea Maritime and Ocean University, Korean Register (South Korea)
Publication Date:
Journal:
Sustainability
Volume:
16
Issue:
5
Pages:
2114
Publisher:
MDPI
Fuels Group:
Ammonia, Methane (Natural Gas), Methanol
Fuel Blends Mentioned?
Yes
Feedstocks Group:
Fossil-derived Hydrocarbons, Agriculture: Residues, Agriculture: Food and Oil Crops
Pathways Group:
Catalysis, Electrochemical, Thermochemical
Topics:
Lifecycle Assessment (LCA) and Air Emissions, Techno-Economic Analysis (TEA)
Vessel Segment:
Ocean-going Vessels
Language:
English

Document Access

Website:
Document Source

Citation

Lee, H.; Lee, J.; Roh, G.; Lee, S.; Choung, C.; Kang, H. (2024). Comparative Life Cycle Assessments and Economic Analyses of Alternative Marine Fuels: Insights for Practical Strategies. Sustainability, 16(5), 2114.https://doi.org/10.3390/su16052114
@article{Lee-2024-3983,
author = {Lee, H and Lee, J and Roh, G and Lee, S and Choung, C and Kang, H},
title = {Comparative Life Cycle Assessments and Economic Analyses of Alternative Marine Fuels: Insights for Practical Strategies},
journal = {Sustainability},
year = {2024},
month = {mar},
publisher = {MDPI},
volume = {16},
number = {5},
pages = {2114},
doi = {10.3390/su16052114},
url = {https://www.mdpi.com/2071-1050/16/5/2114},
keywords = {Fossil-derived Hydrocarbons, Agriculture: Residues, Agriculture: Food and Oil Crops, Ammonia, Methane (Natural Gas), Methanol, Catalysis, Electrochemical, Thermochemical, Lifecycle Assessment (LCA) and Air Emissions, Techno-Economic Analysis (TEA), Ocean-going Vessels},
}
Export Citation to BibTex
TY - JOUR
TI - Comparative Life Cycle Assessments and Economic Analyses of Alternative Marine Fuels: Insights for Practical Strategies
AU - Lee, H
AU - Lee, J
AU - Roh, G
AU - Lee, S
AU - Choung, C
AU - Kang, H
T2 - Sustainability
AB - The growth of the global shipping industry has increased the interest in the environmental impact of this sector. The International Maritime Organization adopted the initial Greenhouse Gas strategy for reducing GHG emissions from ships at the 72nd Marine Environment Protection Committee in April 2018. In this study, we carried out a life cycle assessment of nine production pathways of alternative fuels, including LNG, ammonia, methanol, and biofuels, and conducted an economic analysis considering the life cycle carbon pricing of each fuel pathway. Our results indicate that biomass-based FT-diesel, e-methanol, and e-ammonia are the most environmentally friendly, with GHG reductions of 92%, 88.2%, and 86.6%, respectively. However, our net present value analysis of ship life cycle cost considering carbon price indicated that using those fuels would not be cost-effective during the target period of study. Sensitivity analysis was performed by changing the life cycle carbon pricing from the baseline scenario, and we investigated the approximate years for when these alternative fuels will become more cost-effective compared to conventional fossil fuels. Further, to provide practical implications for shipping stakeholders, we analysed the effect of blending the same kinds of fuels with different production pathways.
DA - 2024/03//
PY - 2024
PB - MDPI
VL - 16
IS - 5
SP - 2114
UR - https://www.mdpi.com/2071-1050/16/5/2114
DO - 10.3390/su16052114
LA - English
KW - Fossil-derived Hydrocarbons
KW - Agriculture: Residues
KW - Agriculture: Food and Oil Crops
KW - Ammonia
KW - Methane (Natural Gas)
KW - Methanol
KW - Catalysis
KW - Electrochemical
KW - Thermochemical
KW - Lifecycle Assessment (LCA) and Air Emissions
KW - Techno-Economic Analysis (TEA)
KW - Ocean-going Vessels
ER -
Export Citation to RIS

Abstract

The growth of the global shipping industry has increased the interest in the environmental impact of this sector. The International Maritime Organization adopted the initial Greenhouse Gas strategy for reducing GHG emissions from ships at the 72nd Marine Environment Protection Committee in April 2018. In this study, we carried out a life cycle assessment of nine production pathways of alternative fuels, including LNG, ammonia, methanol, and biofuels, and conducted an economic analysis considering the life cycle carbon pricing of each fuel pathway. Our results indicate that biomass-based FT-diesel, e-methanol, and e-ammonia are the most environmentally friendly, with GHG reductions of 92%, 88.2%, and 86.6%, respectively. However, our net present value analysis of ship life cycle cost considering carbon price indicated that using those fuels would not be cost-effective during the target period of study. Sensitivity analysis was performed by changing the life cycle carbon pricing from the baseline scenario, and we investigated the approximate years for when these alternative fuels will become more cost-effective compared to conventional fossil fuels. Further, to provide practical implications for shipping stakeholders, we analysed the effect of blending the same kinds of fuels with different production pathways.