To examine how the IMO’s mid-term measures will influence shipping’s transition to e-fuels and decarbonization.
To evaluate different policy scenarios, including fuel standards, levies, and financial incentives, to determine their effectiveness in promoting low-emission fuel adoption.
Publication year: 2025
Linking the employment of alternative marine fuels to a carbon price for shipping
To study the feasibility of hydrogen and ammonia as marine fuels, this research analyses their costs and benefits. While both fuels offer long-term decarbonization potential, adoption faces challenges due to high capital investments and operational costs. Green hydrogen is the most expensive, followed by green ammonia, blue hydrogen, and blue ammonia, though green alternatives have minimal emissions costs. This highlights the need for Market-Based Measures (MBMs) to support their implementation.
Biofuels in shipping (2025 Ver.)
To investigate the role of bio-marine fuels in the ongoing decarbonization transition of international shipping, this report examines key challenges such as technological advancements, feedstock scarcity, and supply infrastructure improvements. Global regulatory frameworks, including IMO measures, FuelEU Maritime, and the EU ETS, along with shippers’ Scope 3 emission reduction demands, are driving the commercialization of bio-marine fuels.
Shipping: Fuelling deforestation – Why the IMO’s Global Fuel Standard risks incentivising the worst biofuels
To examine the risks posed by the IMO’s Global Fuel Standard (GFS) in promoting unsustainable biofuels, this report analyzes the potential unintended consequences of incentivizing high-emission biofuels in the absence of clear sustainability criteria. It explores the projected rise in biofuel demand within the international shipping sector under GFS, assesses the greenhouse gas impacts of increased biodiesel use, and highlights the potential for adverse climate and environmental outcomes. The report aims to provide policy recommendations that ensure the GFS supports genuinely sustainable decarbonization pathways and avoids triggering deforestation and other land-use emissions.
The cost of capital challenge in delivering a just and equitable transition for shipping
To examine the financial barriers to a just and equitable transition to zero-emission fuels in the shipping sector, this report focuses on the cost of capital as a critical determinant of project feasibility. It compares the levelised costs and investment risks of green ammonia (e-ammonia) production across regions, including both developed and developing countries, to illustrate how disparities in capital access affect global competitiveness. Furthermore, it explores policy instruments—such as grants and concessional finance—that can mitigate investment challenges in low-income countries, thereby supporting the IMO’s objective of a fair transition while enabling the widespread adoption of renewable marine fuels.
Life cycle assessment of e-/bio- methanol and e-/grey-/blue-ammonia for maritime transport
to provide an independent and comparative assessment of key alternative fuels for the maritime sector, and to evaluate their energy efficiency, greenhouse gas (GHG) reduction potential, production scalability, maturity, and economic competitiveness, in both the short and long term