Full Title: Oceans of Opportunity: New Report Provides a Blueprint for How Ports Can Supply Green Methanol and Ammonia by 2030
Author(s): Rocky Mountain Institute
Publisher(s): Rocky Mountain Institute
Publication Date: April 15, 2024
Full Text: Download Resource
Description (excerpt):
The Global Maritime Forum and RMI (founded as the Rocky Mountain Institute), under Mission Innovation’s umbrella, released a report outlining strategies for ports to become first movers in providing green methanol and ammonia bunkering. The report provides insights into the sources of green methanol and ammonia that could be available to the shipping industry and how ports can secure supply to meet the International Maritime Organization’s (IMO) target of at least 5% use of zero-emission fuels by 2030.
As the maritime industry transitions towards decarbonization, there will be significant changes in the sourcing and distribution of marine fuels. The report finds that the low cost of transporting green methanol and ammonia, which are produced from green hydrogen, will lead to extensive trade linking low-cost production regions to key ports. Policy support for green shipping fuels has the potential to significantly impact a country or region’s position in this burgeoning hydrogen economy.