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Economic benefits of building zero-emission capable vessels in East Asia

Report

Title: Economic benefits of building zero-emission capable vessels in East Asia
Author:
Cho, H., Ünalan, S., Meng, Z.
Affiliation:
International Council on Clean Transportation
Publication Date:
Pages:
1-28
Publisher:
ICCT
Fuels Group:
Ammonia, Methanol, Hydrogen
Fuel Blends Mentioned?
No
Topics:
Vessel Design, Retrofit and Integration, Fuel Supply, Infrastructure and Bunkering, Markets and Forecasting
Vessel Segment:
Ocean-going Vessels
Language:
English

Document Access

Website:
Document Source
Attachment: Access File
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Citation

Cho, H.; Ünalan, S.; Meng, Z. (2024). Economic benefits of building zero-emission capable vessels in East Asia. Report by International Council on Clean Transportation.
@techreport{Cho-2024-,
author = {Cho, H and Ünalan, S and Meng, Z},
title = {Economic benefits of building zero-emission capable vessels in East Asia},
institution = {International Council on Clean Transportation},
year = {2024},
month = {sep},
url = {https://theicct.org/publication/economic-benefits-of-building-zero-emission-capable-vessels-in-east-asia-sept24},
keywords = {Ammonia, Methanol, Hydrogen, Vessel Design, Retrofit and Integration, Fuel Supply, Infrastructure and Bunkering, Markets and Forecasting, Ocean-going Vessels},
}
Export Citation to BibTex
TY - RPRT
TI - Economic benefits of building zero-emission capable vessels in East Asia
AU - Cho, H
AU - Ünalan, S
AU - Meng, Z
AB - Achieving net-zero greenhouse gas (GHG) emissions from international shipping by or around 2050 will require zero-emission capable vessels (ZECVs). Most of these vessels would likely be built in China, Republic of Korea, and Japan, which collectively dominate the shipbuilding industry, especially for large cargo ships. Because ZECVs are more expensive than conventional vessels, this presents an economic opportunity for shipbuilders and shipbuilding countries, especially for first movers that gain a competitive advantage in the marketplace. In this paper, we provide an overview of the shipbuilding market and existing government support measures for the industry in China, Republic of Korea, and Japan. We then estimate the additional revenues these countries could earn by building ZECVs instead of conventional vessels.
DA - 2024/09//
PY - 2024
SP - 1
EP - 28
PB - International Council on Clean Transportation
UR - https://theicct.org/publication/economic-benefits-of-building-zero-emission-capable-vessels-in-east-asia-sept24
LA - English
KW - Ammonia
KW - Methanol
KW - Hydrogen
KW - Vessel Design, Retrofit and Integration
KW - Fuel Supply, Infrastructure and Bunkering
KW - Markets and Forecasting
KW - Ocean-going Vessels
ER -
Export Citation to RIS

Abstract

Achieving net-zero greenhouse gas (GHG) emissions from international shipping by or around 2050 will require zero-emission capable vessels (ZECVs). Most of these vessels would likely be built in China, Republic of Korea, and Japan, which collectively dominate the shipbuilding industry, especially for large cargo ships. Because ZECVs are more expensive than conventional vessels, this presents an economic opportunity for shipbuilders and shipbuilding countries, especially for first movers that gain a competitive advantage in the marketplace. In this paper, we provide an overview of the shipbuilding market and existing government support measures for the industry in China, Republic of Korea, and Japan. We then estimate the additional revenues these countries could earn by building ZECVs instead of conventional vessels.