The International Chamber of Shipping (ICS) has released a new report forecasting global hydrogen demand through 2050, identifying South Korea, Japan, and Europe as the initial key markets for hydrogen.
According to the report, meeting a global annual demand of 30 million tonnes of green hydrogen would necessitate up to 411 new hydrogen carriers. If hydrogen is transported as ammonia, this number could rise to up to 500 vessels. Additionally, the hydrogen transport requirements would be equivalent to the annual electricity production of South and Central America combined.
Guy Platten, Secretary-General of the ICS, stated, “To stay on track for the net-zero by 2050 target, hydrogen-based fuel demand must increase fivefold from current levels, reaching approximately 500 million tonnes between 2030 and 2050. A significant insight from this report is the substantial variability in potential demand. While the industry will drive hydrogen demand, shipping has a crucial role to play in enabling the hydrogen economy.”
Currently, the Suiso Frontier is the only trading liquid hydrogen carrier globally. It features a single 1,250 cubic meter vacuum-insulated, Type C storage tank. Many stakeholders are exploring larger capacity designs to accommodate hydrogen, which is transported at a temperature of -253°C.
