The global ship orderbook data shows that fossil fuels continue to dominate shipping, as approximately 14 out of 15 ships under construction will use oil or LNG for their propulsion. In contrast, only a very small percentage of new shipbuilding is turning to “green” fuels, where methanol dominates and other solutions follow.
Specifically, based on Ship & Bunker data on the future energy demand of new ships, approximately 93%-97% of the fuels that will be consumed concern fossil fuels -mainly oil (83%-85%) and to a lesser extent LNG (10%-13%) – while only 3%-7% concern methanol, ammonia, hydrogen, etc.
The data, according to the relevant analysis, reflect not only the technological choices of shipowners, but also the continued absence of mature alternative fuels on a commercial scale, as well as the limited development of global refueling networks.
Despite the increasing attention paid to fuels such as LNG and methanol, availability, cost and uncertainty about future technologies are leading much of the shipping industry to more conservative choices.
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