Loo: Projections show ammonia will eventually be cheaper than e-methanol
Dr. Lynn Loo · Decarbonizing the high seas · Jul 12, 2024 · at 25:01
Dr. Lynn Loo, CEO of the Global Center for Maritime Decarbonization, evaluates the long-term cost economics of green ammonia versus synthetic e-methanol for maritime shipping.
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“In the long term, if you look at the projections and the numbers, I think if costs were the driver, then the cost of ammonia is going to be cheaper than the cost of e-methanol.”
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More from Dr. Lynn Loo
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“And so that model, I think, will break down and we will see more distributed bunkering because of the low volumetric density of these future fuels.”
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“There's no willingness to pay for the green premium.”
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“I think, you know, the future of maritime, it's not going to be single fuel. So we're not going to, for example, move into one single fuel. I think, you know, as a contrast to aviation, where I think there's a convergence that we need sustainable aviation fuel…”
Loo: Meeting 2030 targets requires doubling globally traded ammonia volumes
“In order to reach that number, the Global Maritime Forum has done some calculations and showed that we need, the sector needs to adopt 10% green fuels by then. 10% green fuels, we already said, you know, that shipping bunkers, three hundred million tons, 10% o…”
Loo: 30% shipping efficiency gains failed to lower net absolute emissions
“If you look at the sector from 2008, we've already reduced emissions by improving fuel savings and energy efficiency to the tune of 30%. Yet, because the trade volumes have gone up so much, net-net, we've not really reduced emissions.”
Loo: 80% of global fleet will still burn fossil fuels in 2030
“If you just look at the numbers and you look at how many vessels are on the water today which is 65,000, and how 80% of them are going to be still on fossil fuel by twenty-thirty, and probably about 30% in twenty-fifty, they need to decarbonize as well.”