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Maritime fuel mix could be 25% ammonia by 2050

DNV GL published its annual Energy Transition Outlook last week, which includes a dedicated analysis of the shipping industry in its Maritime Forecast to 2050. According to DNV GL, the IMO's 2050 emission reduction targets can be met through innovative ship design, using ammonia as an alternative fuel. Widespread commercial adoption of ammonia fuel would begin in 2037; ammonia would the dominant fuel choice for new builds by 2042; and ammonia would represent 25% of the maritime fuel mix by 2050.

This represents new demand for roughly 120 million tons per year of green ammonia by 2050. This outcome greatly depends on how maritime regulations are developed in the coming years, but it would see ammonia-fueled ships represent almost 100% of new vessels (by fuel consumption) from 2044 onwards.

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Maritime Industry Targets Ammonia Fuel to Decarbonize Shipping

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The International Maritime Organization issued its Initial GHG Strategy, committing the global shipping industry to emission reductions that cannot be achieved with carbon-based fuels. This single action is the regulatory trigger that unleashes a three-decade transition to carbon-free liquid fuels like ammonia. The target date for this 50% reduction in emissions is 2050 but, given the long economic life of ocean vessels, the transition must begin immediately.

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DNV GL predicts carbon-neutral fuels, including ammonia, to surpass oil for shipping by 2050

This week, DNV GL published its annual Energy Transition Outlook, providing a long-term forecast for global energy production and consumption, and including a dedicated report describing its Maritime Forecast to 2050. This is the first forecast from a major classification society explicitly to evaluate ammonia as a maritime fuel.

By 2050, DNV GL predicts that 39% of the global shipping energy mix will consist of "carbon-neutral fuels," a category that include ammonia, hydrogen, biofuels, and other fuels produced from electricity. By 2050, these fuels will therefore have gained greater market share than oil, LNG, and battery-electric. If ammonia succeeds as the carbon-neutral fuel of choice in the shipping sector, this new demand will be roughly equivalent to 200 million tons of ammonia per year, more than today's total global production.

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