🌍⚓ The biggest hurdle in shipping’s decarbonisation journey? The lack of scalable and commercially viable zero-emission fuels and #technologies.
While the industry is making progress with alternative fuels like #hydrogen, #ammonia, and #biofuels, the path to a green future faces some major challenges:
🚢 Fuel Availability & Infrastructure: We need more investment in production and bunkering facilities for alternative fuels. The supply chain isn’t yet ready for global demand.
💸 High Costs: From initial investments in new tech to higher operational costs, going green is expensive. Shipping companies are hesitant due to the significant capital required for retrofitting or building zero-emission vessels.
⚙️ Technological Maturity: Promising technologies like hydrogen fuel cells and #ammonia engines are still in development, with concerns about safety and large-scale use.
📝 Regulatory Uncertainty: Global regulations are evolving, but a lack of clarity makes long-term planning difficult. Will regulations align globally or remain fragmented?
⏳ Long Asset Lifecycles: #Ships have 20-30 year lifespans, which means many #vessels today will still be in operation when stricter #emissions rules come into play.
💼 Financing the Transition: Securing green finance is challenging, especially for smaller operators navigating this expensive transition.
It’s clear that overcoming these hurdles will take collective action across the entire maritime value chain, from #technology innovators to #regulators and financiers.
💬 Want to continue the conversation on decarbonisation? Join us at this year’s Marine Energy Transition Forum in Antwerp! 🚢🌍
Let’s dive deeper into the challenges and solutions driving shipping’s path to a sustainable future. This #forum is your chance to connect with industry leaders, explore innovative technologies, and discuss the key issues shaping the future of marine #energy.
If you're serious about the energy transition, #Antwerp is the place to be!
📅 Date: 22-23 October 2024
📍 Location: The Port House, Antwerp
#Decarbonisation #MaritimeIndustry #SustainableShipping #GreenFuels #ShippingInnovation #NetZero #MarineEnergy #ShippingChallenges #FutureOfShipping #GreenTech
Principal Engineer | PO Technology | Energy Enthusiast | LyondellBasell
2wThank you Christopher Cain 🙏 a lot to do to restore Europe’s competitiveness, time for action!