The Financial Times reports that the shipping industry is losing confidence in green fuels as high costs, limited availability, and weak demand for a “green premium” push shipowners back toward traditional marine fuels.
A survey by the International Chamber of Shipping shows falling optimism for hydrogen and ammonia, while confidence in fossil fuel oil has increased. The industry is now split between those pursuing alternatives like dual-fuel ships, LNG, carbon capture, wind assistance, or nuclear power, and those returning to more efficient fossil-fuel vessels.
Although the IMO still targets net-zero emissions by 2050, progress has stalled due to political disagreements and economic concerns. Many executives argue cleaner fuels will only scale if they become cheaper and more widely available.
