Study shows that fuel cells and other technologies are gaining momentum in the shipping industryDecember 13, 2017
Study highlights the growing significance of clean technology
The University of Maritime Advisory Services and Lloyd’s Register have released a new study highlighting zero emission vessels. The shipping industry has embarked on a quest to significantly reduce emissions by 2030. Several companies aim to accomplish this task through the use of clean technology, such as hydrogen fuel cells. The study suggests that shipping companies will have to have made serious progress in this endeavor by 2030 in order to achieve their own emissions reduction goals.
Fuel cells are becoming more common in the shipping industry
The study highlights seven clean technologies that could be very beneficial for the shipping industry. Companies may be able to make use of various combinations of these technologies in order to cut emissions. Notably, hydrogen fuel cells have begun to establish a significant presence in the industry. Many companies are turning to fuel cells because of their ability to generate high quantities of electrical power without also producing emissions. Batteries, biofuels, and energy storage solutions are also gaining momentum throughout the shipping industry.
Cost of fuel continues to be a problem for shipping companies
While clean technology shows significant promise, shipping companies have found that no solution is capable of meeting their needs fully at this time. One of the most significant issues that companies have identified is the high cost of fuel. Hydrogen fuel, in particular, is quite expensive due to the amount of electricity that is required to produce it. Biofuels are also somewhat costly due to their own production methods. Battery systems are relatively inexpensive by comparison, but they are not as efficient as shipping companies need them to be.
Shipping industry is beginning to invest in clean technology
Some shipping companies have begun investing heavily in clean technology in order to overcome the problems they see with some solutions. The shipping industry, as a whole, has shown commitment to reducing emissions by a significant degree within the next decade. The investments coming from major companies may help accelerate progress on this initiative.