American Bureau of Shipping (ABS) on Tuesday (26 May) reported shipowners see ammonia and hydrogen as the most attractive fuel options for the long term, according to its survey results.
Nearly 60% of respondents said they viewed hydrogen and ammonia as the most attractive fuel choices in the long-term, it added.
The survey taken by shipowners and operators registering for an ABS webinar, Pathways to Sustainable Shipping, also revealed nearly two thirds of owners currently have no decarbonisation strategy in place.
When asked which fuel is most likely to be adopted in the near term, 70% selected fuels in the light gas pathway, which includes LNG in the short term and hydrogen as a future solution.
“It is clear that the industry views both hydrogen and ammonia as the long-term destination but sees LNG as having a big role to play in addressing the regulatory challenge immediately in front of us,” said Georgios Plevrakis, ABS Global Sustainability Director.
“These results are in line with the findings in our recently released ‘Low Carbon Shipping Outlook’.
“Based on the fuel pathways that we have identified and can shape the future of marine propulsion, hydrogen and ammonia are solutions that are expected to contribute to the reduction of carbon emissions in the long term.
“LNG, as the most mature of the alternative fuel solutions, can pave the way to a less carbon intensive maritime industry”.
A separate survey of industry leaders following an ABS Webinar on Greenhouse Gas (GHG) Ratings revealed the vast majority are routinely using the ratings in their business decision making.
Around 80% of participants agreed or strongly agreed that GHG ratings were an important factor in their business decision making, and nearly half said they had already begun implementing options for GHG rating improvement.
“As shipowners and operators look to improve their environmental ratings to both maintain and attract potential charters, they face complex decisions on how best to identify, report and reduce GHG emissions,” said Lefteris Karaminas, ABS Global Sustainability Manager.
“A key takeaway from the webinar is that owners taking advantage of accelerated GHG rating improvement options like the non-permanent Engine Power Limitation (EPL) are finding the benefits only temporary, as other vessels in the peer group take on improvements or new more efficient vessels enter the peer group.
“It will be necessary to consider alternative options, including combinations, in order to remain competitive and increase their ratings in the long term.”
Photo credit: Element5 Digital
Published: 28 May, 2020
Since the beginning of 2019, approximately 95% of Hapag-Lloyd’s vessels have been operating using low-sulphur bunker fuel, which emits over 70% less sulphur oxides.
‘If passed, these changes will make Singapore one of the first to implement the MLETR […] an important development for Singapore as a shipping and finance hub,’ said Partner.
Eva Kozak, who manages European and US credit, was former Group Credit Manager for Bunker Holding A/S.
To support orders of more than 200 vessels including 20 mega container ships by 2020.
‘This indexing mechanism will help improve transparency and fairness in how fuel costs are calculated which will benefit all stakeholders in the supply chain,’ it said.
Survey indicates most common operational problems experienced are increased sludge deposits and wax appearance after switching to the compliant fuel.
The COVID-19 pandemic continues to evolve and MPA is working closely with other agencies to monitor the situation, both globally and in Singapore, the port authority tells Manifold Times.
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
