As of June 2025, the Mission Possible Partnership is tracking 658 industrial decarbonization projects worth $230 billion across shipping, aviation, steel, cement and concrete, chemicals, and aluminum, with a small percentage having reached final investment decision, according to its latest Global Project Tracker update.
For shipping decarbonization projects, just 5% have reached FID, 17 are under construction, and 3% are operational. These projects include zero emissions vessel deployment, fuel bunkering infrastructure, and production of alternative marine fuels such as methanol, ammonia, hydrogen, and liquefied biomethane. Methanol leads in vessel orders, while ammonia and hydrogen fuel production efforts are concentrated in Northern Europe, the Middle East, and China.
The report notes that fuel supply projects are advancing faster than both vessel orders and port infrastructure. While new production facilities for alternative fuels continue to come online, shipbuilding and bunkering capacity are not keeping pace. This imbalance between fuel availability and vessel readiness creates a supply-demand gap that may delay uptake. The Partnership warns that without coordinated progress across shipbuilding, fuel supply, and infrastructure, scaling up decarbonized shipping will fall short.
The next Tracker update is expected in early 2026.
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Category: Sustainable Marine Fuels
