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Future Fuels for Shipping Demands Worlds Current Global Renewables

The ICS has issued a Press Release on 17th May, attached at Annex A, which reveals that new data shows future-fuel demand for shipping industry equal to the entire current global production of renewables.

The Report “Fuelling the Fourth Propulsion Revolution”, authored by Professor Dr. Stefan Ulreich, from Germany’s University of Applied Sciences, and commissioned by the International Chamber of Shipping, highlights the ‘enormous opportunity’ for investors and governments represented by the global shipping industry’s need for new, green fuels.

Key points from the “Report” are :-

• A Huge and immediate need for renewable-based fuels in shipping represents an opportunity for investors.

• Opportunities for Investment in green infrastructure is key, shipping is estimated to carry more than half of the world’s net-zero fuels by 2050.

• A Particular opportunity for the Global South identified as net-zero fuel production costs expected to be up to 20% lower in Latin America and Africa.

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