Fuel oil

• The "Air Purifier Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
• Key countries, including China, Japan, South Korea, and India, contribute significantly to the growth of air purifiers within APAC.
• Consequently, this surge in urbanization, coupled with heightened consumer awareness, is anticipated to drive the growth of the global air purifier market.
• Who are the key players in the global air purifier market?

• The "The Global Market for Green Ammonia 2024-2034" report has been added to ResearchAndMarkets.com's offering.
• Diving deep into the intricacies of green ammonia production pathways and technologies, this report shines a spotlight on the transformative potential of renewable fuels.
• The past year has witnessed a notable uptick in green ammonia initiatives, both existing and in the pipeline, testament to the growing corporate investment in renewable hydrogen and ammonia synthesis.
• Fostering innovation, coupled with harmonized policy and investment strategies, positions green ammonia to be a cornerstone in sculpting a carbon-neutral energy landscape.

• The International Maritime Organization (IMO), the UN agency responsible for regulating shipping, recently set out plans for this industry to reach net zero emissions by 2050.
• What the shipping industry needs is to swap oil for alternative green fuels.
• The shipping industry faces great challenges in making this shift to fuels such as ammonia, hydrogen and methanol.

What makes shipping fuel green?

• Green ammonia is formed by combining nitrogen from the air and green hydrogen through a process called Haber-Bosch.
• When assessing how green a fuel really is, not only are the emissions created by burning it in the ship’s engine important, but also, the emissions from extracting, producing, transporting and storing it.
• In fact, up to US$1.9 trillion (£1.5 trillion) must be invested to fully decarbonise shipping, with over half of that needed to make green hydrogen, which is also essential for producing green methanol and ammonia.

Ships with compatible engines needed…

• The world’s fleet of around 61,000 ships will need to be upgraded or replaced before 2050.
• Older vessels are likely to reach the end of their service before this investment is paid off and the onerous cost is the same even for smaller ships.
• Ships capable of burning both methanol and methane are already being ordered by container shipping lines such as Maersk, Evergreen, CMA CGM and COSCO.

…and so are safety regulations

• A lack of safety regulations is partly responsible for the slow uptake of alternative fuels.
• This is partly because the IMO has issued safety regulations for methanol as fuel, but not ammonia and hydrogen, which has cast doubt on their future among shipowners.
• According to the Green Methanol Institute, about 0.7 million tonnes of green methanol could be produced globally by the end of 2023.

Lots to build

• Green hydrogen in particular, the key ingredient for other fuels, will need a large investment as it must be stored in special containers at around −253°C.
• The good news is that decarbonising international shipping will benefit more than this vital industry by expediting renewable energy investments and helping sun-rich emerging economies flourish with the chance to make lots of cost-effective green hydrogen.
• Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue.

• BEIJING, Sept. 26, 2023 /PRNewswire/ -- China has beefed up efforts to deepen its international cooperation in the shipping industry and made new achievements.
• Major achievements related to open cooperation in the shipping industry, including the release of the Shanghai port-Los Angeles port green shipping corridor implementation plan outline and the launch of the international container transport service platform, were announced during the 2023 North Bund Forum on international shipping and aviation, which kicked off on Friday in Shanghai.
• It is learned that Shanghai secured its third position in the international shipping center ranking in the 2023 Xinhua-Baltic International Shipping Center Development Index Report.
• The index report, which was released at the forum, showed that a new pattern of the global shipping industry has been formed, with Singapore, London, and Shanghai leading the way.