Press Releases

Cyprus Shipping Deputy Ministry (SDM) to organize “SWOT-ing the potential of low- and zero- emission fuels in the maritime sector” – a hybrid webinar examining the safety, costs, maturity, and availability of new bunker fuels

An initiative of the Cyprus Shipping Deputy Ministry (SDM) in association with the University of Houston, hosted by PwC Cyprus Experience Centre, the three-hour webinar will be held on 19 January 2023 starting at 15:30 GMT+2. Live streamed in real-time, experts from industry and academia will assess the strengths, weaknesses, opportunities and threats of fuels including hydrogen, ammonia, biofuel and methanol.

Participants will discuss engine safety and compatibility risks, fuel costs, suitability of fuels for short and long-distance routes, global availability, and a timeline for uptake.

A team of experts will populate the SWOT analysis matrix in real time during the webinar, in combination with commentary from the audience. The conclusions drawn from this will provide critical insights to regulators, equipment manufacturers, shipping companies, class, academics, and NGOs – all of whom will play key roles in the formulation and implementation of effective legislation relating to these potential fuels of the future.

The webinar will be divided into sessions relating to each fuel (hydrogen, ammonia, biofuels and methanol). Each session will feature a presentation from the session’s key speaker, followed by interventions by the audience in formulating the SWOT Analysis and concluding remarks from a risk assessment analyst.

Commenting on the upcoming webinar, Cyprus’ Shipping Deputy Minister to the President, Mr Vassilios Demetriades, said: “The maritime industry has entered a period of significant transformation over the last few years, with incoming regulations encouraging much-needed change in shipping’s journey towards decarbonization. That said, progress has been slow. It’s clear that there is an urgent need for genuine industry-wide collaboration around the challenges faced within this changing landscape – one of these challenges being the ongoing debate around which fuel will power shipping’s future.

Our initiative to organize a live SWOT analysis together with the Division of Energy and Innovation of the University of Houston will be extremely useful for Regulators and Industry in identifying R&D priorities with the aim of ensuring the effective use of funds and more targeted research to accelerate the uptake of non-fossil fuels. We look forward to hosting a diverse range of experts and believe that their insights, and the outcomes of scheduled discussions, will drive positive progress in shipping’s journey towards achieving its net-zero ambitions. We are building together a greener future for shipping!”

To register for the event, please follow the link below:

Virtual registration link

(MV/IK)