Marine

The marine industry stands in the center of international trade and commerce. However, the use of traditional heavy fuel oil as marine fuel has left a significant environmental footprint in the industry due to its association with high GHG emissions. The vast adoption of alternative fuels for use in seagoing vessels currently stands as a key priority to decarbonise this sector.

Biofuels
LNG
Green Ammonia
Green Methanol

Facts & Figures

3%

CO2 contribution from from maritime relative to global emissions

80%

GHG reduction of energy by ships calling at EEA ports by 2050

1.6 trillion

USD required to decarbonise maritime industry by 2050

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The use of alternative replacement marine fuels have significant potential to reduce the sector’s greenhouse gas emissions. However, widespread adoption will require overcoming obstacles related to infrastructure, fuel availability, and cost-effectiveness.

Our Focus Areas

Biofuels

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PROS:

Biofuels can be used as a drop-in fuel without major changes to existing infrastructure

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CONS:

Limited feedstock supply

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LNG

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PROS:

Benefit from low infrastructure investment costs as they can be used as drop-in fuels and delivered via existing LNG bunkering infrastructure
LNG vessels comprise of the largest share of the global alternative-fuelled vessel fleet



CONS:

Methane slip, which may offset the benefits of LNG consumption compared to traditional fossil fuels.

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Green Ammonia



PROS:

Green ammonia offers a greater carbon emission reduction potential from a well-to-wake basis compared to grey LNG



CONS:

Adoption as a bunker fuel is logistically challenged as it require significant infrastructure investment across the entire supply chain.
Low energy density.

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Green Methanol



PROS:

Green methanol offers a greater carbon emission reduction potential from a well-to-wake basis compared to grey LNG



CONS:

Existing green methanol production remains limited

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Biofuels



PROS:

Drop-in capabilities: can be used without major changes to existing infrastructure



CONS:

High costs, limited supply due to competition with aviation sector.

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LNG



PROS:

good global availability
low sulfur content hence reduced emission levels



CONS:

Methane slip, which may offset the benefits of using LNG as a fuel compared to fossil fuels.

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Green Ammonia

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PROS:

Zero carbon emissions

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CONS:

Lower energy density, infrastructure changes, potential of leaks (toxic to marine life).

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Green Methanol



PROS:

Zero carbon emissions



CONS:

Low energy density

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Market Share Size

In a net zero emissions (NZE) scenario, the market share size of alternative maritime fuels increase significantly from 2030, and eventually taking a majority share over traditional fuels by 2050.

Our expertise in the marine market:

etasca’s expertise is around supporting investment into projects for alternative marine fuels such as LNG, methanol, and ammonia. We’ve provided market, technical and environmental support (from due diligence to independent reviews) for several large storage providers operating marine fuel infrastructure.

Commercial Advisory

etasca’s commercial due diligence is underpinned by a deep understanding of the energy and chemicals value chains, regulations and markets.

We offer:

Our approach:

Commercial due diligence
Value creation and strategy
Independent market reports
Business model

Independent supply, demand and trade outlooks for key alternative marine fuel feedstocks and products

Pricing forecasts for key alternative marine fuels

Knowledge around marine regulations and requirements such as IMO regulations

We offer:

Commercial due diligence
Value creation and strategy
Independent market reports
Business model

Our approach:

Independent supply, demand and trade outlooks for alternative marine fuels

Pricing forecasts for key alternative marine fuels

Knowledge around marine transportation industry regulations and market developments

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Technical Advisory

etasca’s technical advisory is led by chartered chemical engineers who have both prior operational experience managing plants as well as advisory experience where they have inspected and benchmarked operations.

We offer:

Our approach: