EMEA News
Soren Holl: Industry More Willing to Decarbonise
KPI OceanConnect's alternative marine fuels portfolio ranges from liquified natural gas (LNG) to hydrogen and carbon offsets, its chief executive has said.
The new division was set up in July as a response to new trends in the marine fuels space.
"We are working with different suppliers on different products and it is a portfolio ranging from LNG, methanol and biofuels, to hydrogen and carbon offsets, which is also quite an interesting area, given the European Trading Scheme that will come into effect from January 1," Soren Holl told SP Global Platts.
And the industry's willingness to find different pathways to decarbonize has accelerated over the last 12 months, Holl added.
While demand for fossil fuels is far from over, Platts expects a rapid shift to alternative fuels from oil-derived fuels between 2030 and 2050 as the fleet order book adapts.
According to Platts, ammonia will account for 20% of the order book, hydrogen for 5%, methanol for 25%, biofuel for 10% and LNG for 40% towards the end of the period while the global bunker market this year is expected to grow by 3%.
