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FREIGHT: Marine Energy Demand to Fall if IMO Boosts Green Policies: Platts

FREIGHT
Energy BulletsBulletCommodities

Marine energy demand will fall in the long-term if the IMO provides more policy inventives to reach net zero by 2050, the IEA said Oct. 16, cited by Platts.

  • This comes even as Red Sea shipping disruption has boosted short-term bunker demand. Ton-mile demand would increase by nearly 10% if all international ships lost access to Suez and boost shipping’s oil demand by 330k b/d in 2024
  • In its latest World Energy Outlook, the IEA said that energy consumption in the shipping sector will from 11 exajoules in 2023 to 10 Ej in 2030 and 9 Ej by 2040 in its scenario.
  • Many shipping analysts said that robust regulations are needed to promote the use of “green” fuels produced by sustainable means, currently pricing well above conventional fuels.
  • September 0.5%S fuel oil was around $12.595/Gigajoule in Rotterdam, compared to $18.511/Gj for grey methanol.
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Marine energy demand will fall in the long-term if the IMO provides more policy inventives to reach net zero by 2050, the IEA said Oct. 16, cited by Platts.

  • This comes even as Red Sea shipping disruption has boosted short-term bunker demand. Ton-mile demand would increase by nearly 10% if all international ships lost access to Suez and boost shipping’s oil demand by 330k b/d in 2024
  • In its latest World Energy Outlook, the IEA said that energy consumption in the shipping sector will from 11 exajoules in 2023 to 10 Ej in 2030 and 9 Ej by 2040 in its scenario.
  • Many shipping analysts said that robust regulations are needed to promote the use of “green” fuels produced by sustainable means, currently pricing well above conventional fuels.
  • September 0.5%S fuel oil was around $12.595/Gigajoule in Rotterdam, compared to $18.511/Gj for grey methanol.