INDUSTRY REPORT
In terms of market share , the European Union is the world ’ s largest supplier of marine equipment ( including services ) followed by Korea , China and Japan
emissions directly target equipment designs of ships and are expected to strongly impact the marine equipment market .
“ Apart from more stringent environmental regulation , important maritime decarbonisation trends that incentivise the development and use of ‘ green ’ marine equipment are rising fuel costs , ( future ) use of alternative fuels , voluntary commitments to green finance and investments and digitalisation . These levers of decarbonisation can significantly impact the marine equipment market and world fleet uptake of equipment for alternative fuels and energy-saving technologies ,” commented the OECD report .
Hybrid propulsion systems , hull air lubrication or sail-assisted propulsion are just some examples of this . Alternative fuels are also gaining traction .
“ LNG fuel-capable adoption has dominated ordering , with a recent increased focus on methanol , hydrogen and ammonia and a further trend to optionality . This has significant implications for marine equipment products , e . g . for engine designs to reduce methane slip or to offer future fuel flexibility . There has also been in increased uptake of battery propulsion or a battery / diesel combination , especially in smaller and coastal vessels such as ferry , tug and offshore ( Clarksons World Fleet Register , 2022 ),” explained the OECD report .
Marine energy-saving technologies are also experiencing an uptick in research and deployment , with an expected further increase in adoption in the future .
The European Union is currently pursuing several maritime policies that , while not targeted directly at the European marine equipment sector , are expected to impact the industry . Under the overarching “ Fit for 55 ” strategy , which aims to reduce the EU ’ s GHG emissions by 55 % by 2030 compared to 1990 levels , the EU has now proposed several policies to foster maritime decarbonisation ( European Parliament , 2022 ).
These include FuelEU Maritime , a new regulation on sustainable maritime fuels to introduce annual average targets for GHG intensity of energy used on ships . Energy taxation is a revised directive on energy taxation with the aim of terminating tax exemptions for conventional marine fuels and incentivising the uptake of alternative fuels . Finally , Fuel Infrastructure is a revised directive on alternative fuels infrastructure with the aim of increasing availability of LNG by 2025 and shore-side electricity in main EU ports by 2030 . n
HMS Albion .
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