Improving efficiency by 1% per year until the year 2030 could save the equivalent of 24 million tonnes of fuel oil and 10% of carbon dioxide equivalent of greenhouse gas (GHG) emissions, according to a study published in December by Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping. This requires around 3000 ships, especially those with high fuel consumption, to sail fully on alternative fuel in the next seven years. The Norwegian classification society DNV reported that approximately 80% of alternative fuel vessels contracted by ship owners in 2022 (a total of 275) are prepared to sail on liquefied natural gas (LNG). This will bring the total of LNG-fueled ships globally to 876. While it is the most consumed alternative at the moment, LNG is still a fossil fuel. However, LNG produces the lowest tank-to-propeller CO2 emissions of all fossil fuels, according to DNV. Methanol and Hydrogen are the second and third most popular alternative fuels among carriers, respectively. But unfortunately, there were only 35 orders for methanol-ready and 18 orders for hydrogen-ready ships last year. The Maersk Mc-Kinney Moller Centre acknowledged the efforts already made in the sector and added, “the sector already has the most important component of any decarbonisation strategy – a willingness to act.” However, more drastic measures are needed to attain the goals set by organisations. About alternative fuels, the centre’s study highlighted the need for a wide array of options to reach decarbonisation objectives. “The main alternatives include bio-methane, e-methane, bio-methanol, e-methanol, blue ammonia, e-ammonia, bio-oils, and e-diesel,” said the study. These alternatives, though not yet available in quantities enough for wide-scale consumption in the shipping industry, they continue to be under research for future use. However, the study believes "alternative fuel production capacity suggests that supplies will be unable to meet demand in the coming decades.”