LNG, ammonia and hydrogen among alternative fuel contenders
Orders at lowest in at least two decades in 2020: IHS Markit
Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to.
Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the trial stage and won’t be scalable for at least a decade. With the life of a commercial ship averaging around 20 years, opting for a technology that doesn’t take off could be very costly.
LNG is a lead contender for a transition fuel on the way to full decarbonization, just as it is in electricity generation. Royal Dutch Shell Plc is set to charter 40 dual-fuel barges for use on the Rhine river that can run on it.
While the gas is still a fossil fuel, it’s CO2 emissions are lower than conventional marine fuel and it’s readily available. LNG-fueled ships already make up 8% of new vessel orders, said Krispen Atkinson, a principal consultant at IHS Markit.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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LNG is a lead contender for a transition fuel on the way to full decarbonization, just as it is in electricity generation. Royal Dutch Shell Plc is set to charter 40 dual-fuel barges for use on the Rhine river that can run on it.
