A recent study calculated that a clean fuel shipping would only add a few cents to the product price. Green hydrogen-based fuels, or e-fuels, may be the way to decarbonise shipping transports. Zero emissions shipping can be in the near future.
This study calculated that running ships entirely on e-fuels would only add up to 10 cents to the final cost of a pair of trainers and up to 8€ to a refrigerator final price.
Despite the significant importance of the shipping industry in the global trade economy, it has been an industry resistant to decarbonisation and remains one of the most pollutants in the world.
The research by T&E, the leading clean transport campaign group in Europe, is aligned with the FuelEU Maritime (FEUM) and the maritime Emissions Trading Scheme (ETS) targets. This little increase in prices would meet the Fit for 55 (FF55) targets from the strategy proposed in the European Commission.
A long way to zero emissions shipping
According to Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, only 35% of the world’s major shipping companies are working on reducing its emissions until 2050.
There is a long way to go, but the solution is here. Green hydrogen is a promising renewable energy alternative due to its advantages for areas that are difficult to decarbonize and can be used to achieve zero emissions shipping.
When compared to other industries, 35% is a low number. For instance, it is estimated that 66% of automotive, 56% of oil and gas, and 45% of transport and leisure companies had sustainability reports with carbon reduction targets, according to a 2020 KPMG report.