In Denmark, global efforts to decarbonize shipping saw a 40% rise in green corridor initiatives in 2023, bringing the total to 62, but progress risks stalling due to the high costs of transitioning to zero-emission fuels, according to the Annual Progress Report on Green Shipping Corridors 2024, published on November 19 by the Global Maritime Forum and the Getting to Zero Coalition.
These corridors, trade routes designed to accelerate zero-emission shipping, could demand over two million tonnes of hydrogen-based fuel annually by 2030, providing a vital boost to global hydrogen economies.
However, the report warns of a looming “feasibility wall,” citing a lack of national policy incentives to bridge the cost gap for alternative fuels as the primary bottleneck. Jesse Fahnestock, Director of Decarbonisation at the Global Maritime Forum, urged governments to share costs and risks with the private sector to unlock the business case for green fuels.
Recommendations include urging governments to close fuel cost gaps, adopt flexible governance, create innovative commercial agreements, support Global South initiatives, and prioritize existing corridors to meet decarbonization targets.
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Tags: Denmark, green shipping corridor, hydrogen
Category: Fuels
