Skip to main content

Shipping Industry Decarbonization: Fuel Choice and the Costs of Achieving Regulatory Compliance

Report

Title: Shipping Industry Decarbonization: Fuel Choice and the Costs of Achieving Regulatory Compliance
Author:
SEA-LNG
Affiliation:
SEA-LNG
Publication Date:
Pages:
1-16
Publisher:
SEA-LNG
Fuels Group:
Methanol, Ammonia, Methane (Natural Gas)
Fuel Blends Mentioned?
No
Topics:
Codes, Standards and Regulation, Techno-Economic Analysis (TEA)
Vessel Segment:
Ocean-going Vessels
Language:
English

Document Access

Website:
Document Source
Attachment: Access File
Notice: This material may be protected by Copyright Law.
(1.2 MB)

Citation

SEA-LNG (2024). Shipping Industry Decarbonization: Fuel Choice and the Costs of Achieving Regulatory Compliance. Report by SEA-LNG.
@techreport{SEA-LNG-2024-,
author = {SEA-LNG},
title = {Shipping Industry Decarbonization: Fuel Choice and the Costs of Achieving Regulatory Compliance},
institution = {SEA-LNG},
year = {2024},
month = {dec},
url = {https://www.lngindustry.com/special-reports/19122024/sea-lng-study-finds-lng-dual-fuel-vessels-lowest-cost-compliance-solution-to-decarbonise-shipping},
keywords = {Methanol, Ammonia, Methane (Natural Gas), Codes, Standards and Regulation, Techno-Economic Analysis (TEA), Ocean-going Vessels},
}
Export Citation to BibTex
TY - RPRT
TI - Shipping Industry Decarbonization: Fuel Choice and the Costs of Achieving Regulatory Compliance
AU - SEA-LNG
AB - At the IMO(International Maritime Organization) in July 2023, the Marine Environment Protection Committee (MEPC 80) adopted a revised GHG (greenhouse gas) Strategy which aims to significantly curb GHG emissions from international shipping. The new targets include a 20% reduction in emissions by 2030, a 70% reduction by 2040 (compared to 2008 levels), and the ultimate goal of achieving net-zero emissions by 2050. Separately, the European Union (EU) has agreed to reduce the GHG intensity of fuels used by the shipping by sector by up to 80% by 2050.In this paper we present analysis of the cost of compliance of different alternative fuel solutions for the container vessel sector using Z-Joule’s POOL.FM evaluation model. Our analysis is focused on the LNG, methanol and ammonia fuel families, comparing their costs of compliance against the VLSFO (very low sulphur fuel oil) default. We have not considered the compliance pathway offered by liquid biofuels or bio-oils.
DA - 2024/12//
PY - 2024
SP - 1
EP - 16
PB - SEA-LNG
UR - https://www.lngindustry.com/special-reports/19122024/sea-lng-study-finds-lng-dual-fuel-vessels-lowest-cost-compliance-solution-to-decarbonise-shipping
LA - English
KW - Methanol
KW - Ammonia
KW - Methane (Natural Gas)
KW - Codes, Standards and Regulation
KW - Techno-Economic Analysis (TEA)
KW - Ocean-going Vessels
ER -
Export Citation to RIS

Abstract

At the IMO(International Maritime Organization) in July 2023, the Marine Environment Protection Committee (MEPC 80) adopted a revised GHG (greenhouse gas) Strategy which aims to significantly curb GHG emissions from international shipping. The new targets include a 20% reduction in emissions by 2030, a 70% reduction by 2040 (compared to 2008 levels), and the ultimate goal of achieving net-zero emissions by 2050. Separately, the European Union (EU) has agreed to reduce the GHG intensity of fuels used by the shipping by sector by up to 80% by 2050.

In this paper we present analysis of the cost of compliance of different alternative fuel solutions for the container vessel sector using Z-Joule’s POOL.FM evaluation model. Our analysis is focused on the LNG, methanol and ammonia fuel families, comparing their costs of compliance against the VLSFO (very low sulphur fuel oil) default. We have not considered the compliance pathway offered by liquid biofuels or bio-oils.