Wednesday, October 14, 2020

Shipping: Geneva-Based Major, MSC, Backs Hydrogen, Biofuels as Fuels of the Future

 From Offshore

Geneva-based Mediterranean Shipping Company (MSC) is exploring the viability of hydrogen and fuels derived from it as a possible fuel source for the future for container shipping.

Speaking on decarbonization at Maritime Transport Efficiency Conference in Geneva, Switzerland on Monday, MSC Group’s Bud Darr said the company was also pioneering the use of biofuels within its existing fleet.

“There’s no one single solution to decarbonise shipping; we need a range of alternative fuels at scale and we need them urgently,” said Darr, who is Executive Vice President, Maritime Policy & Government Affairs at MSC Group.

“The future of shipping and decarbonisation will rely on strong partnerships from both the perspective of technology collaboration and procurement.”

Fossil-sourced LNG remains a transitional option, while carbon capture and storage if perfected for marine use, could be useful, Darr told the conference.

Shipping needs to make a radical shift to zero-carbon energy sources in order to reduce the sector’s total greenhouse gas emissions by at least 50% of 2008 levels by 2050.

This transition requires over $1 trillion in investments to set up the necessary infrastructure and create a completely new fuel production industry....


Because we we recycle here's the intro to August 5's "French Hydrogen Lobby Seeks $12 Billion in Aid to Boost Use", now used as an outro:

I hope long-suffering reader didn't think all our posting on hydrogen was for grins and giggles.
There is real money in play here, and using our low I.Q. approach to investing, the thing to do is identify a waterfall of money, go sit next to it, and savor the refreshing splashes that come your way....