Wärtsilä report shows pathway for green shipping fuels

The Finnish corporation has a long history across the maritime and energy sectors, providing power solutions for vessels of all sizes for nearly a century. Its new report - Sustainable fuels for shipping by 2050 – the 3 key elements of success –  outlines how the shipping industry can transition to greener fuel sources in the coming years, charting a pathway to price competitiveness.

According to Wärtsilä, LNG (liquid natural gas) is likely to act as a transition fuel, followed by biofuels in the 2030s. ‘Blue’ fuels including blue ammonia and methanol – derived from fossil fuels but with carbon capture - will then act as bridging fuels. ‘Green’ synthetic fuels produced using renewable energy are predicted to become widely available at scale by the late 2030s and early 2040s.

However, the company’s modelling predicts sustainable fuels will be 3-5 times more expensive than fossil fuels in 2030. Closing that gap will require policy on marine fuel carbon pricing, binding science-based targets for phasing out fossil fuels, and international collaboration to roll out infrastructure for alternative fuels.