Trafigura invests in renewable energy technologies by co-sponsoring the development of MAN Energy Solutions ammonia-fuelled engine for maritime vessels.
The fuel-flexible, two-stroke ammonia engine is expected to be commercially available for large-scale ocean-going ships by 2024, after a retrofit package to make existing maritime vessels capable of running on ammonia by 2025.
Shipping faces a significant challenge in reducing its emissions, while at the same time the threat of climate change requires urgent action to decarbonise. Developing engines and the supporting infrastructure to provide the industry with the ability to adopt carbon-neutral and carbon-free fuels is key to establishing a greener shipping industry in the near future
commented Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
What is more, Dr Uwe Lauber, CEO of MAN Energy Solutions, explains that the final goal for two-stroke engines is to run them entirely on carbon-neutral and carbon-free fuels.
As he added the interest from shipping companies in new fuel-technologies currently has great momentum, ”however the move to green engines also depends on economic realities.”
As for Bjarne Foldager, Senior Vice President and Head of Two-Stroke Business at MAN Energy Solutions, he cited several, independent reports that have recently called for new types of partnership within the maritime sector that not only link traditional players.
Building on independent in-depth research and with the knowledge that we currently have, we believe that hydrogen-based fuels will ultimately be the shipping fuels of the future. To get there we urgently need a significant IMO-led global carbon levy on marine fuels to encourage and incentivise the use of low and zero-carbon fuels by making these cost neutral compared to the higher emitting fuels that we know of today
concluded Rasmus Bach Nielsen, Global Head of Fuel Decarbonisation for Trafigura.
Trafigura will also launch a Carbon Trading desk. The company believes its entry into this market will connect producers of offsets to its network of oil, metals and minerals customers including producers and end users.
Carbon offset markets provide the means for price discovery to drive the reduction of greenhouse gas emissions in existing supply chains and to encourage investment in carbon sequestration measures and technologies.
