Findings.

Scale-up of re-fuels is progressing. Typical capacities for proposed production plants have increased from around 50MW in the initial release of The Monitor to more than 100MW in this latest report.

However, fuel supply solutions largely remain at pilot or small-scale commercial trial. Substantial scaling is required to meet the demand expected from growth in zero emissions vessels.

We continue to see new fuel production projects and ship concept designs announced. However, many are now awaiting investment decisions, several being expected by the end of 2023.

Fuel cost remains a significant barrier to investment, and the policy measures required to close the gap are not in place yet. The next twelve to twenty-four months will be crucial for progress in these areas.

The sustainability conversation continues to be high profile. Discussions are in progress at the policymaker level, including the Fit-For-55 Fuel EU Maritime proposals and the ongoing IMO process on lifecycle analysis.

However, we do not yet understand these fuel’s long-term impact on environment and socio-economic landscapes. Nor does the regulatory framework support sustainability reporting and certification of fuels.

Trends have shown an average increase in readiness across all fuels and supply chain stages. Here are the readiness levels at-a-glance for the fuels under consideration from three perspectives: technology (TRL), investment (IRL) and community (CRL).