- ClassNK has forecasted that there could be a peak demand for LNG and methanol as marine fuels of respectively 24 million tonnes and 4.5 million tonnes by 2026.
- The growth is predicated on the ‘mass delivery of LNG-fuelled ships, on a scale comparable to the current fleet’
ClassNK has updated its report “ClassNK Alternative Fuels Insight” initially released in May 2024, to Version 2.0. This update includes the latest information on alternative fuel ships, including orders and deliveries, demand outlook, and cost simulations for ammonia-fueled ships. It supports customers’ future fuel options and investments.
ClassNK Alternative Fuels Insight
Given the wide range of alternative fuels available for ships, it is necessary to consider not only technical evaluations but also to understand trends including cost and supply availability to make appropriate fuel selections. “ClassNK Alternative Fuels Insight” provides latest trends for each alternative fuel.
In the newly released Version 2.0, information on the demand for alternative fuels, which is estimated by ClassNK based on information on alternative fuel ships scheduled for delivery, and cost simulations for ammonia-fueled ships that are expected to be ordered more frequently in the future have been added.
In addition, the report provides information on the trend of green methane production projects that are expected to be used in LNG fueled ships, the GHG emissions assessment of biofuels as an effective GHG reduction measure for conventional fuel ships, and our support for onboard CCS system, which is expected to be more widely adopted in the future. The report also provides information on the rating results of CII in force from 2023 for ships verified by ClassNK, including results by ship type and size.
The “ClassNK Alternative Fuels Insight” is planned for continuous updates according to the latest trends of alternative fuels and regulations in international shipping.
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Source: ClassNK
