Applying Alternative Fuels to Existing Ships (Engine Retrofit Report 2023)

To explore decarbonization through retrofitting existing ships and analyze the price gap between alternative fuels and conventional fuels through forecast scenarios for the application of alternative fuel technologies in ship retrofits

It is worth noting that this report proposes a required carbon tax of $350 per ton of CO2 in order to bridge the price gap between existing marine fuels and the latest eco-friendly alternative fuels, such as methanol and ammonia.