Methanol and Fuel Cell Technology for Ship Cold Ironing Applications

The European Commission introduced the 'Fit for 55' package in July 2021 as part of the European Green Deal, aiming to cut greenhouse gas emissions (GHG) by 55% compared to 1990 levels by 2030. This package, applicable to high-energy consumption sectors including shipping, was designed to address challenges in decarbonizing such industries. In July 2023, the International Maritime Organization (IMO) updated its strategy for reducing greenhouse gas emissions from ships during the MEPC 80 meeting. This marked a significant milestone in combating emissions from the shipping industry, which accounts for about 3% of global GHG emissions. The proximity of ports to urban areas exacerbates air pollution, impacting health and economic productivity. One promising solution is cold ironing using methanol and fuel cell technology, which not only reduces emissions but also offers economic benefits. This paper will explore the advantages of this approach over traditional methods and assess its total economic impact, including the social cost of carbon dioxide (SC-CO2). With recent estimations indicating higher SC-CO2 values, the potential benefits of greenhouse gas mitigation from the new technology are expected to increase, highlighting the importance of stringent regulations in the shipping sector.