To further inform and guide the maritime industry, the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping has launched the Fuel Cost Calculator.
The tool enables users to calculate the bottom-up production costs of sustainable maritime fuels and benchmarks these against fossil fuels. It reportedly provides credible, third-party cost estimates that enable fuel producers, financiers and off-takers to assess fuel options on a like-for-like basis.
Bo Cerup-Simonsen, the CEO, highlighted that since its inception in 2020, the Center has been committed to openly sharing research and knowledge. The Fuel Cost Calculator takes this commitment further by opening up their toolbox and assumptions for others to utilize and build upon.
A key challenge in the maritime sector is the lack of reliable third-party fuel cost estimates, as highlighted in a report by the World Economic Forum and BCG. Torben Nørgaard, CTO – Head of Energy & Fuels at the Center, emphasized that the Fuel Cost Calculator addresses this issue by offering transparent predictions of regional fuel production costs. These calculations are based on the Center’s set of assumptions, which are formulated from a combination of public literature, extensive industry knowledge, and expert insights.
Nørgaard further emphasized the Center’s goal to facilitate a comprehensive understanding of the costs associated with producing green fuels. They encourage dialogue around their assumptions and aim for the entire ecosystem to engage in an insight-based discussion about realistic estimates for green fuel production costs. Therefore, they invite everyone to try out the new Fuel Cost Calculator tool.
You can access the Fuel Cost Calculator by clicking here.
