World News
DNV Sees Limited Role for Pure Hydrogen in Shipping
Pure hydrogen as a marine fuel is likely to play only a limited role in international shipping because of storage and energy-density constraints, according to a new report from classification society DNV.
Both compressed and liquefied hydrogen face challenges linked to low volumetric energy density, reducing their practicality for long-distance marine transport, according to a report published on Tuesday.
“As a result, hydrogen demand from the maritime sector arises almost exclusively through fuels where hydrogen is embedded in higher-density molecules that are easier to store, transport, and bunker at scale,” DNV said in the report.
Instead, DNV expects shipping demand to centre on hydrogen-derived fuels such as ammonia and e-methanol as the industry pursues decarbonisation targets in hard-to-electrify sectors.
The report forecasts clean hydrogen volumes growing 100-fold by 2060, supported by cumulative sector investment of about $3.2 trillion.
DNV said hydrogen could help cut more than 2 billion mt/year of emissions from sectors including shipping, aviation and heavy industry by mid-century.
The organisation sees Australia as a pivotal supplier of both hydrogen and ammonia.
“As a result, the most significant trade corridors are expected to run from Australia to Japan, South Korea, and Singapore, collectively accounting for roughly two‑thirds of all regional hydrogen-related trade,” the report stated.
It expects South Korea and Japan to import hydrogen and ammonia for power generation, while Singapore's imports would be largely for ammonia bunkering requirements.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 874.00 | 5.00 | 1304.00 | 6.00 |
| Rotterdam | 698.50 | 5.00 | 1430.00 | 11.50 |
| Houston | 748.00 | 15.00 | 1386.50 | 23.00 |
| Fujairah | 976.00 | 7.50 | 1686.00 | 8.50 |
| Global 20 Ports Average | 882.00 | 7.00 | 1534.00 | 5.50 |
| Global 4 Ports Average | 824.00 | 5.50 | 1451.50 | 6.50 |
| Global Average Bunker Price | 938.00 | 8.00 | 1608.00 | 10.50 |
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