Summary of Client & Challenge They Faced
A cruise line operator was exploring options to lower carbon emissions in line with corporate Environmental Sustainability and Governance (ESG) goals. They required a market analysis to identify opportunities to source low carbon maritime fuels in the near, medium and long terms.
Our Approach to the Solution
LEC Partners (LEC) experts in market analysis, biofuels, and green hydrogen/hydrogen derivatives conducted a comprehensive review of the availability, cost and carbon reduction potential of numerous maritime fuels over 1, 5 and 10 year time periods.
This detailed review of low carbon fuel sources included an assessment of markets in the U.S., EU, Asia Pacific, and Oceania for numerous fuels suitable for use in the maritime industry including, biodiesel, renewable diesel, green ammonia, green hydrogen, and green methanol. Existing availability, pricing, and supply chain analysis were considered to provide the client with options for immediate decarbonization of operations. The study also included market trends and forecasts for these same fuels in the medium and long term.
Client Results & Benefits
With the analysis provided by LEC, the cruise line was able to develop procurement options for lowering the carbon footprint of their operations. Additionally, they gained greater insight on the supply chain for low-carbon marine fuels and forming strategic relationships with producers and distributors. Finally, they achieved greater understanding of the future of marine fuels, what alternatives may be available in the coming years, and the potential impacts on their operations.