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A joint study by Maersk and Lloyds Register on the decarbonisation options for shipping unsurprisingly concludes that achieving the holy grail of net zero will cost money.

While the additional cost to build a ship with new fuel tanks, modified engines and fuel supply systems is a capital expenditure cost, written off over the lifetime of the vessel, the new fuels, such as biomethane and ammonia, are projected to be “significantly more expensive” than the current fossil fuels, thus will lead to higher operating costs.