IMO Future Fuels web portal

The International Maritime Organization (IMO) has declared climate neutral maritime shipping by 2050 as its goal. With an extensive action plan, the strategy for reducing greenhouse gases is intended to work on all levels and to be feasible for everyone involved. To promote this plan, the IMO, together with the government of the Republic of Korea, has launched the ‘Future Fuels and Technology for Low- and Zero-Carbon Shipping Project (FFT Project)’.

This project supports the work of the Marine Environment Protection Committee (MEPC) of IMO on three levels:

1. technical analysis of developed solutions and implemented measures,
2. pilot projects facilitate cooperation between developed and developing countries and the industry,
3. and now new: the online platform "Future Fuels and Technology" offers an overview of all the different types of fuels – existing and developing infrastructure, availability and usage, prices, existing fleet and construction contracts.

At the very latest since the mandatory international requirements regarding greenhouse gas reduction and energy efficiency of their ships have entered into force, many shipping companies are faced with the question: Which technology and which fuel is the right one? There are many options to choose from and at first glance the costs involved are convoluted and daunting – this is where the IMO's new online platform "Future Fuels and Technology" comes in. It assists a well-founded decision-making process with diagrams and statistics that give an overview of the various options and their pros and cons.

Among other things, the website serves to get an overview which fuel is most commonly used in which type of ship. For example, of the available alternative fuels, LNG is currently utilized on container ships, but building contracts of ships fuelled by methanol indicate that this type of alternative fuel is on the rise in this sector. In contrast – as shown by the overview – batteries are often used in ferries, ro-ro passenger ships and ships deployed close to the coast, and have taken root in these sectors.

Moreover, the online portal presents the stages of development of the different fuels and offers links to leading research projects offering more specialized information on the individual topics, which facilitates a comprehensive and in-depth insight.

However, the choice of the most suitable fuel strongly depends on the availability in the trading area as well. For current and future planning, the website does not only shed light on existing capacities, but also on infrastructure projects that are being developed.

The predicted price development of alternative fuels is particularly interesting. At this point in time, heavy fuel oil in combination with a scrubber is the most cost-effective solution. Most alternative fuels have to be stored on board and burned in larger quantities to achieve the same performance as carbon-based fuels. This requires space and currently costs significantly more. The introduction of a carbon price might even out the price-performance ratio, which would make alternative fuels a real alternative. Such at least is the prognosis displayed in the diagrams published on the website.

There is much to think about and many things to consider when investing in the future. IMO's platform "Future Fuels and Technology" may assist in the decision-making process.