Ammonia appears to be garnering support as the most viable alternative fuel within the shipping industry, as revealed at the 10th BIMCO tanker safety network meeting which was held earlier this month.
At the event, participants were invited to share their views via a series of live polls, and 52 percent of respondents pinpointed ammonia as the most viable fuel pathway by 2040. Bunkering compatibility (38 percent) and onboard safety risks (28 percent) remain key concerns from those within the shipping industry.
Ammonia was cited as being a promising but demanding option, one that requires careful management of toxicity, risk communication, and emergency measures. The alternative fuel was also flagged as both capital-intensive and highly sensitive to safety protocols and cross-sector demand pressures, with pricing and availability likely to be crucial drivers behind the choices made by shipping lines.
On a macro level, 69 percent of participants reported being only moderately prepared to handle alternative fuels, with key training gaps remaining a particular worry for attendees.
Earlier this month, BIMCO launched a new subcommittee to develop a Biofuel Clause for Time Charter Parties.
