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Article: The allure of green fuels looks to end shipping’s loveless marriage with oil

As steam replaced sail at the turn of the 20th Century, green energy is set to be the major disruptor that ends oil’s long-term relationship with shipping, writes the CEO of Core-Power.

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The following article on the introduction of molten salt reactors for the shipping industry has been authored by Mikal Bøe, founder and chief executive at Core-Power; the article was first published on the website of classification society Lloyd’s Register.

While shipping has had many strained relationships over the years with regulators, banks and customers, it is the ‘marriage of convenience’ with oil that is likely to end in tears, as owners are now tempted by the alluring charms of green fuels.

Hydrogen is the latest flavour of the month, bursting onto the shipping scene with adoring suitors queueing up to proclaim their devotion to ‘H’. However, the new darling of shipping will be expensive to maintain as it is costly to produce and requires an enormous amount of energy to make.

The much-touted renewable energy sources such as solar and wind do not have the energy density needed to make hydrogen in sufficient quantities to meet shipping’s needs. Hydrogen when made with oil and gas, is worse than no hydrogen at all.

Challenges of delivering the green wave

So how does the shipping industry meet the ‘carved in stone’ goals of the IMO to cut CO2 emissions by at least 40% to pre-2008 levels by 2030, rising to a 70% reduction by 2050. On top of that the IMO has mandated a reduction of total annual GHG emissions from international shipping of at least 50% by 2050 when compared to 2008.

Time is not the friend of shipping in reaching these targets and green promises need to be supported with scientific facts. The science tells us that we cannot produce sufficient quantities of hydrogen from solar panels and wind turbines to meet shipping’s needs.

To misquote Bob Dylan – only a small part of the answer my friend, is blowing in the wind.

The only realistic option

The real deal for a sustainable long-term partnership is between advanced atomic energy and shipping to produce green hydrogen, green ammonia and synthetic fuels. That technology, which can deliver emission free, long term, sustainable energy to produce synthetic fuels is best represented by the Molten Salt Reactors (MSR).

What we are now building taps into an almost limitless fuel supply with massive energy density so we can keep up with our world’s energy demands as we grow. It will consume almost all its energy leaving the tiniest amount of residue and will emit nothing at all.

This new era of advanced atomic technology engineering allows us to create hope for shipping as well. Think differently now. Think how advanced atomic would play a vital role not just in decarbonising shipping but where shipping itself is a key component of decarbonising heavy industry. Think vertical environmental integration. Think cheap green hydrogen, straight from seawater, round the clock no matter the weather.

Making green fuel from the sea and air

Floating production is the ideal setting for green fuels and water desalination. It requires no site license, it is scalable, it is flexible, it is movable, it is exportable and it is surrounded by water and air – all the raw material we need to make clean water, green hydrogen and green ammonia. No oil drilling, no smoky oil refining, no combustion, no emissions.

Think of one floating green fuels refinery producing over 1 million metric tons green ammonia per year at a cost competitive with bunker fuel. Global demand for green ammonia just from shipping should hit 150 million tons by 2035. The orderbook for shipyard construction of these plants is a tantalising prospect.

Each of these floating refineries could be a consortium involving an advanced atomic operator, a plant processing operator, a maritime asset manager, a ship manager and an off taker, maybe even an oil company?

This represents the largest disruptive technology opportunity for shipping. Oil is facing an existential challenge. We all want to live forever. By thinking differently, this is how it can be done.

 

Source: Lloyd’s Register
Photo credit: Chris Pagan on Unsplash
Published: 10 August, 2021

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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