- The latest edition of the Zero Carbon Fuel Monitor (ZCFM) report has revealed significant technological advancements in handling, storing, and using alternative fuels onboard vessels, a key step in the maritime industry’s transition to zero or near-zero carbon fuels.
- The report, published by Lloyd’s Register Maritime Decarbonisation Hub (MDH), focuses on the final stage of the fuel supply chain—the ship—and examines vessel readiness for ammonia, biofuels (FAME and HVO), hydrogen, liquefied methane, and methanol.
Lloyd’s Register Maritime Decarbonisation Hub’s Zero Carbon Fuel Monitor (ZCFM) has highlighted rapid technological advances in handling, storing, and using alternative fuels onboard vessels that enable the maritime industry’s transition to zero (or near-zero) carbon fuels.
The latest ZCFM update focuses on the final stage of the fuel supply chain – the ship – and offers valuable insights into the readiness of current vessels for various fuel types including ammonia, biofuels (FAME and HVO), hydrogen, liquefied methane, and methanol.
Maritime industry’s transition to zero-carbon fuels
The report found that technology readiness levels for all reviewed fuels have increased over the past year. It identified 31 vessels in the existing fleet and orderbook capable of using ammonia, along with over 400 “ammonia ready” vessels, mainly in gas and bulk carrier segments. It also noted 315 methanol-capable vessels, with nearly 500 more classified as “methanol ready” and 78 hydrogen-capable vessels, primarily used in coastal and short-sea shipping.
The analysis also indicates a rise in commercial trials and applications, boosting the investment readiness levels (IRLs) within the ship supply chain stage. Community readiness levels (CRLs) are increasing, driven by growing awareness of the urgency to meet the International Maritime Organisation’s (IMO) 2030 interim target of achieving 5% of vessels running on low-to-zero carbon fuels.
While the report acknowledges progress, it also highlights areas needing further development and investment, such as improved safety protocols and crew training for handling alternative fuels, as well as challenges related to investment due to uncertainties in the supply chain, including fuel availability, port infrastructure, and regulatory frameworks.
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Source: Lloyd’s Register
