Ship owners stuck with no clear view on clean fuels of the future

January 18, 2021 |

In Singapore, Bloomberg reports that a lack of clear direction over which alternative fuels are likely to lead the way over the next decade as the marine industry decarbonizes in line with the International Marine Organization rules for 2030 has led to a 20-year low in ship orders. HIS Markit data shows ship orders fell 50% in 2020 compared to 10% in 2019, the year after the IMO announced its 2030 and 2050 ambitions. Vessels typically have 20 year lifespans and take several years to build, leaving the industry with little time to make a decision on future fuels.

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Category: Fuels

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