Join our crew and become one of the 105,015 members that receive our newsletter.

A tanker ship is seen in the English Channel at sunrise, near Dover, Britain, August 4, 2021. REUTERS/Peter Nicholls/File Photo

A tanker ship is seen in the English Channel at sunrise, near Dover, Britain, August 4, 2021. REUTERS/Peter Nicholls/File Photo

Shipping Industry Set to Miss 2030 Zero-Emission Fuel Target

Total Views: 823
October 18, 2023

By Gloria Dickie

LONDON, Oct 18 (Reuters) – The world is not on track for zero-emission fuels to account for 5% of international shipping fuels by 2030, a new analysis has found, jeopardizing the shipping industry’s 2050 decarbonisation goal. 

Launched at the Global Maritime Forum’s annual summit in Athens on Wednesday, the assessment finds that current scalable zero-emissions fuel (SZEF) production in the pipeline would cover just a quarter of the fuel needed by 2030. 

And the delivery of zero-emission vessels is also faltering. At the end of 2022, there were 24 ships capable of running on SZEF – mostly methanol – with another 144 on order. 

But current orders are just one-fifth of what is needed to meet mid-term goals, found the report, carried out by the UMAS consultancy which includes University College London Energy Institute experts.

“It’s just not enough at scale or at the pace that is needed,” said Kathryn Palmer, shipping lead of the U.N. COP Climate Champions, at a press event. 

“We need to see the demand and supply actors work together to implement specific solutions”.

Global shipping is responsible for about 3% of the world’s greenhouse gas emissions from human activities. 

This year, the International Maritime Organisation revised its greenhouse gas strategy, outlining the 5% goal but noting the industry should strive to achieve 10% zero-emission energy in international shipping fuels by the end of the decade. 

Five to 10% of the fuel demand for shipping in 2030 would amount to about 5.3 million metric tons of hydrogen, 29.8 million metric tons of ammonia, or 28.1 million metric tons of methanol. 

It is estimated that the industry will have to invest about $40 billion annually in SZEF bunkering and production. 

(Reporting by Gloria Dickie in London; editing by Robert Birsel)

(c) Copyright Thomson Reuters 2023.

Monthly Insights from the Helm

Dive into a sea of information with our meticulously curated weekly “Dispatch” email. It’s more than just a newsletter; it’s your personal maritime briefing.

Sign Up
Back to Main
polygon icon polygon icon

Why Join gCaptain Club?

Be Informed: Stay updated with the latest maritime news and trends.

Connect: Network with a community of maritime professionals and enthusiasts.

Gain Insights: Receive exclusive content and personal perspectives from our CEO.

Sign Up


Maritime and offshore news trusted by our 105,015 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.