Decarbonisation and the creation of (net) zero carbon fuels presents a significant economic opportunity for shipowners, companies and countries, as fuel producers, importers and exporters. This report, written in collaboration with Professor Dr Stefan Ulreich, University of Applied Sciences, Biberach, Germany, presents new research that demonstrates how shipping will play a fundamental role in delivering these fuels globally and act as an enabler for governments and industries to achieve their climate targets.
It showcases why the maritime industry must be accounted for in international decarbonisation plans and have access to the same (net) zero carbon fuels they will be transporting to decarbonise; the world’s renewable energy generation would need to increase up to 100% just to supply enough (net) zero carbon fuel to power the shipping industry.
The enormous scale of the opportunity and transformation of the fourth propulsion revolution for governments, ports, developing economies, and key maritime stakeholders is laid out in this report.
- Producing net zero carbon marine fuels will create a significant opportunity for renewable electricity producers
- Shipping will have a multi-fuel future
- High demand for zero carbon fuels presents opportunities for the global south
- Renewable energy production of (net) zero carbon fuels provides economic opportunities for all
- Invest in infrastructure and research, development and demonstration now or economic gains will be minimised