ASX Renewable Energy Stocks: The world’s longest ‘green’ shipping corridor is in the works
The most abundant element in the universe, hydrogen, is making headlines overseas and in Australia today as part of the acceleration towards clean power and decarbonisation.
In a bid to establish the world’s longest green corridor for efficient and sustainable shipping, Singapore’s Maritime and Port Authority have signed a memorandum of understanding (MoU) with the Port of Rotterdam.
The two countries are among the world’s largest bunkering ports in the world, making them vital links on the Asian-European shipping lanes.
While international shipping currently uses largely marine gas oil (MGO) and low-sulphur fuel oil, sustainable alternatives such as biofuels, including biogases, are increasingly being made available
Each alternative fuel has its own challenges relating to costs, availability, safety, and restrictions in range due to lower energy density compared to fossil fuels but to tackle these issues, the two port authorities have agreed to bring a coalition of shippers, fuel suppliers and other companies together to work on solutions.
Together with Maritime and Port Authority of Singapore (MPA) we’ve signed a MoU to establish the world’s longest Green and Digital Corridor to enable low and zero carbon shipping. https://t.co/5veoc2VZmD. #energytransition #smartport #rotterdammakeithappen @MPA_Singapore
— Port of Rotterdam Authority (@PortOfRotterdam) August 2, 2022
Singapore’s Minister for Transport and Minister-in-Charge of Trade Relations, S Iswaran says decarbonising shipping requires the collective efforts of the entire maritime sector.
For a start, the two port authorities will work with bp, Shell, Denmark-based Mærsk Mc-Kinney Møller Center for Zero-Carbon Shipping, as well as many others to raise investment confidence, attract green financing, and kick start pilots and trials for digitisation and the use of low and zero carbon fuels along the route.
Australian business Kennards Hire has purchased two new GEH2 electro-hydrogen power generators from French-based EODev replacing diesel generators – the bane of outdoor events.
In December 2021, EODev entered the Australian market when it supplied three of its GEH2 generators to Blue Diamond Machinery – an independent distributor of energy and industrial equipment, with plans of distributing the generators to construction sites, the mining industry, and sporting and cultural events.
Kennards Hire’s Brian Hardy says with the increased focus on sustainable options for the construction industry, the nature of rental is already considered a favourable decision for customers who want to ensure their projects are as green as possible.
Frontier Energy’s Bristol Springs project in Western Australia’s South West region could be one of Australia’s lowest cost producers of green hydrogen.
The Pre-Feasibility Study completed by Xodus Group found that a Stage One solar farm with a capacity of 114 megawatts could power a 36.6MW alkaline electrolyser to produce 4.4 million kg of green hydrogen per annum at the low all-inclusive cost of just $2.83 per kg.
This is hugely significant as it places the project within striking distance of the $2/kg mark which is widely touted as the price point where green hydrogen becomes competitive with fossil hydrogen, which is produced from coal or natural gas using steam methane reforming without the use of carbon capture and storage.
It is also far lower than the Australian Renewable Energy Agency’s (ARENA) current green hydrogen production cost forecast of between $6 to $9 per kg based on current electrolyser and renewable energy costs.