WPB cites that the shipping industry is gradually moving towards adopting alternative fuels, with enormous momentum to be witnessed in the period after 2030. Senior officials from leading shipping companies highlight that while ongoing transition is uneven, constricting green policies and medium- and long-term sustainability targets will drive a decisive shift in future decades.
Nowadays, shipping companies are moving slowly because they have to cope with trade uncertainty and geopolitical complexity. Nevertheless, experts forecast that during 2030-2040, there will be a huge shift into low-carbon fuels to reshape the sector. Maersk Oil Trading Chief Executive Emma Mazhari noted that regulatory action—such as Europe's emissions trading system and shifting marine fuel regulations—is already beginning to influence supply and investment planning. She noted that European port bunkering activities are increasingly supported by the presence of low-carbon fuels, illustrating structural change in the market.
This vision is echoed by Maersk, and it has modified its investment policy. The firm does no longer invest in ships using a single fuel; instead, it concentrates on dual-fuel fleets to safeguard long-term recovery of capital and be adaptable to the mix of energy of the future.
Asian industry leaders share the same vision. Takeshi Hashimoto, Mitsui O.S.K. Lines president, said that in the near term, the focus will be on lowering emissions with conventional remedies such as liquefied natural gas (LNG) and methanol. MOL is also actively testing wind-assisted propulsion technology as an adjunct to fuel substitutes. It has thus far been characterized by setbacks, however, Hashimoto says the development of fuels like green ammonia, green methanol, and biomethane will be essential for shipping's long-distance future.
The broader industry's pledge to reduce its dependence on traditional oil is in line with the International Maritime Organization's carbon-reduction ambitions. However, executives acknowledge that shifting political dynamics and global uncertainties render business planning more complex. Tata NYK Shipping's MD Amitabh Panda underscored that decarbonisation remains a strategic priority for shipowners regardless of geopolitics turmoil. While decision-making becomes more sophisticated, he underscored that the search for cleaner fuels will continue to be a defining priority.
By Bitumenmag
Shipping, Bitumen, Fuel
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