IMO deal will push shipping towards hydrogen fuels

Methanol order book already starting to grow, but ammonia may take longer due to safety concerns

The recent International Maritime Organization (IMO) deal on shipping falls short of aligning the shipping industry with the goals of the Paris Agreement but will do more to encourage the uptake of alternative fuels, according to experts. The 2023 IMO Strategy on Reduction of GHG Emissions from Ships, adopted in early July, significantly increased ambition over the previous 2018 strategy. The IMO agreed on ‘indicative checkpoints’ of reducing emissions by at least 20% (striving for 30%) by 2030 and at least 70% (striving for 80%) by 2040, with net zero being reached by 2050. It also agreed that zero or near-zero greenhouse gas (GHG) emission technologies, fuels and/or energy sources to repre