China aims to produce more than half of the world’s ships powered by cleaner fuels by 2025, according to guidelines published by the industry ministry.
As Reuters reports, the guidelines emphasize the construction of vessels using lower-carbon fuels such as methanol and liquefied natural gas (LNG). This initiative is part of China’s broader goal to achieve carbon neutrality by 2060.
The Ministry of Industry and Information Technology’s document calls for innovation in ship engines, improvements in traditional fuel and LNG marine engines, and a steady increase in the use of LNG in marine engines at scale, Reuters adds.
Furthermore, according to Reuters, the environmental overhaul of the shipping industry is expected to be completed by 2030.
To remind, in 2022, Chinese shipyards reached a market share of 47% and for the first time exceeded the combined market share of Japanese and South Korean shipyards. Ships delivered to new owners by Chinese shipyards in 2022 totalled 14.6 million Compensated Gross Tonne (CGT).