Shipping's future fuels could prove a lucrative bet

The race to wean shipping off oil and switch to cleaner fuels should prove lucrative for investors and is drawing interest from fund managers, according to Boston Consulting Group.

The Maersk Essex cargo ship is docked at the Port of Los Angeles on Terminal Island in Los Angeles on March 26, 2021. Foto: Bloomberg photo by Bing Guan

Hitting climate targets means shipping has to start using clean marine fuels such as ammonia, methanol and biofuel, the U.S.-based consultancy said. It's a big transition and requires major spending, creating investment opportunities in, for example, companies that will make the alternative fuels, or into the new infrastructure needed at ports.

"There is lots of money to be made in this transition," BCG partner Peter Jameson said. "Big investment funds, pension funds, are now looking to how do we actually deploy our funds into these potential growth markets."..

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