THE INTERNATIONAL Chamber of Shipping has presented a new report that expects heavy industry to dominate global demand for hydrogen up to the year 2050.
The report, written by the professor of energy economics at Biberach University, Germany, in collaboration with the ICS, predicts South Korea, Japan and Europe to be the first major markets for hydrogen.
Turning hydrogen demand into reality: Which sectors come first? focusses on the potential of clean hydrogen to function as an energy carrier and feedstock to decarbonise multiple sectors.
However, the report states that to meet future hydrogen demand, the scale of renewable electricity required for green hydrogen production is unprecedented and will lead to once in a generation opportunities and challenges.
According to the report, to meet just 30 million tonnes of annual global hydrogen demand, the world would require up to 411 new hydrogen vessels and the equivalent of the yearly electricity production of South and Central America combined.
International Chamber of Shipping secretary general Guy Platten said, “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 to the hydrogen economy.”
Europe in particular has a target of 20 million tonnes of hydrogen per year by 2030, according to the report, with half of that volume to come from imported sources.
To meet this expected demand, the fleet would reportedly need to increase by up to 300 hydrogen-carrying vessels for the EU2030 target.
Mr Platten added, “One thing is certain, readiness at ports and infrastructure development to remove barriers for maritime uptake will be crucial”.
“This will allow for both the maritime and other sectors to move forward, adding energy-security and enhancing diversification. This is a once in a generation opportunity to transform the whole energy-maritime value chain.”
Professor Ulreich from Biberach University, author of the report added, “The maritime industry will play a key role by connecting the hydrogen surplus regions with the high consumption areas”.
“What we are seeing is that the annual hydrogen demand would mean increasing the fleet to transport hydrogen by ship.
“To just meet a global increase if 30 million tonnes of hydrogen traded worldwide, we could need up to 411 new hydrogen vessels (for long distances) or up to 500 vessels if transported as ammonia.”
The world’s first liquiefied hydrogen carrier, Suiso Frontier, visited Australia in 2022, berthing at the Port of Hastings in Victoria.
