NEW marine repor ts and guides
New ICS report says hydrogen has an important but not dominant role in net zero
The International Chamber of Shipping (ICS) presents a new report identifying hydrogen demand sectors, demand locations, and the demand-pull timelines.
The groundbreaking report, written by the Professor of Energy Economics at Biberach University of Applied Sciences, Germany, called “Turning hydrogen demand into reality: Which sectors come first?” focuses on the potential of clean hydrogen to function as an energy carrier and feedstock to decarbonise multiple sectors, especially hard-to-abate sectors.
The report identifies that to meet future hydrogen demand, the scale of renewable electricity demand for green hydrogen production is unprecedented and leads to once-in-a-generation opportunities and challenges.
Key findings - Hydrogen has an important but not dominant role in the transformation towards climate neutrality.
- Hydrogen demand depends strongly on climate ambitions and could benefit from offtake agreements with multiple sectors.
- Scenarios for future hydrogen demand show huge variability and uncertainty from now towards
2050.The rate and timeline of hydrogen
uptake varies between sectors due to infrastructure, regulatory and sectoral ecosystem challenges and is likely to take place in stages.
- To unlock investment, governments should also focus their attention on supporting demand side derisking over supply side subsidy.
- Industrial demand, and not transport, will vastly dominate hydrogen demand in the coming decades, acting as a baseload for hydrogen demand.
- The scale of electricity demand for green hydrogen production is unprecedented and leads to once in-a-generation opportunities and challenges. The need for hydrogen transport by ship requires the energy–maritime value chain to shift towards a low-carbon infrastructure that is fit for purpose.
"For global hydrogen demand to keep the net-zero by 2050 scenario within reach, demand for hydrogen-based fuel sources would need to scale five times from current levels to reach approximately 500 million tonnes from 2030 to 2050. One of the main takeaways in this report is the high variability in potential demand. Industry will dominate the hydrogen demand. Shipping, however, can play a key role as an enabler of the hydrogen economy," said Guy Platten, Secretary General of the International Chamber of Shipping.
According to the International Energy Agency (IEA), hydrogen use is expected to remain static and within current industrial use cases into 2030. However, to go beyond the current hydrogen demand by existing sectors, infrastructure, enabling regulation, and power access barriers need to be addressed for new sectors to begin uptake of hydrogen, the report finds.
Download the full report at
https://bit.ly/4coSlnj. Australian industry data report shows turnover up 5% year-on-year
Australia’s Boating Industry Association (BIA) has released its annual state of the industry data report, revealing national turnover at A$10.12bn for 2023-24, a 5% increase on the previous year. BIA president Adam Smith said the report, launched on the opening day of the Sydney International Boat Show, demonstrated continued growth for the sector despite economic challenges over the past 12 months.
“There are now 27,500 people directly employed in the boating industry as well as 8,250 more in contractor roles supporting more than 2,000 businesses across the nation,” Smith says. “Seventy-five per cent are in small, family businesses, employing local workers and supporting local communities. Many are based in regional areas, and help deliver much-needed support for jobs and economies, including enhanced tourism-related spend of boating activities.”
Download the data card and infographic at
https://bit.ly/3WLBrul.
THE REPORT | SEP 2024 | ISSUE 109 | 57
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