The Ledger
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Loo: Maritime shipping will not converge on a single replacement fuel
“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: Eliminating methane slip allows LNG to cut shipping emissions by 25%
“And so if you can eliminate methane slip, the emissions reduction is approximately 25% compared to heavy fuel oil, and so that's a good thing, and it could be a transition fuel. It doesn't get us to zero. It gets us partway there.”
Loo: Shipping accounts for about 3% of global emissions
“Shipping as a sector contributes about three percent to global emissions. And so in the large scheme of things, that's not a lot, right? It's one gigaton compared to about 40 gigatons.”
Loo: Shipping transports 90% of goods globally
“Shipping is responsible for transporting 90%
Of goods around the world.”
Loo: Worldwide marine bunkering volume is about 300 million tons annually
“Worldwide bunkering volumes is about three hundred million tons.”
Loo: Global methanol production currently reaches 100 million tons annually
“It's being produced at about a hundred million tons a year.”
Loo: Ammonia and methanol need 2.5 times more volume than heavy fuel
“The volumetric energy density is significantly lower than heavy fuel oil, and so you would need approximately two and a half times, whether we're talking about ammonia or methanol compared to heavy fuel oil to go the same distance.”
Loo: Over 50% of operating ships bunker at one preferred port
“In fact, we did a survey with BCG and the survey showed that you know ships actually, the bunkering patterns are very, I would call them centralized. So more than 50% of the ships on the water today have a favorite port and the favorite port is defined as bunk…”
Loo: Singapore's bunkering volume exceeds the next nine largest hubs combined
“Singapore bunkers fifty million tons when the global bunkering volume is three hundred million tons. So the bunkering volume in Singapore is greater than the bunkering volumes of the next nine largest bunkering hubs all combined.”
Loo: No regulations exist for offloading captured shipboard CO2 at ports
“When you are at port of calls, you need to offload that CO two. And there are currently no guidelines or regulations on how you can offload that CO two.”
Loo: Maritime shipping relies primarily on heavy fuel oil
“Well, I mean, shipping propulsion of shipping basically relies on fossil fuel, and so this is heavy fuel oil mostly. It's really the bottom, the stuff that you can't distill when you refine fossil fuels and oil and that's what's used in shipping.”