New EU regulations could achieve price parity for marine fuels by 2035

Analysis by Wärtsilä suggests that due to stringent emissions policies, including the EU Emissions Trading System and FuelEU Maritime, the cost of marine fossil fuels could double by 2030, leading to a potential price parity between conventional and sustainable marine fuels by 2035. This shift is crucial for the global shipping industry, which is responsible for 3% of global emissions, to transition towards energy sustainability. The report emphasises the need for decisive actions to scale sustainable fuels, aligning with the IMO's net-zero emissions target by 2050. Collaboration among governments and the maritime sector is essential for developing the infrastructure and standards necessary for this transition. (Seatrade Maritime)