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A new report by Alfa Laval, Hafnia, Haldor Topsoe, Vestas and Siemens Gamesa has suggested that renewable ammonia could eventually power 30% of the global maritime fleet.

The 59-page study forecasts that once the fuel’s logistics chain has been fully developed – including the construction of 150m tonnes per year of incremental production capacity – green ammonia would have a cost similar to today’s compliant oil-based bunkers.

The report highlights what fraction of the Earth would be needed to create the renewable resources to create enough green ammonia to power 30% of the world’s merchant fleet.

The report also estimates that the cost of today’s conventional ammonia is already comparable to VLSFO or MGO.