High level of interest in zero-emission fuels to put Spain on green shipping corridors map
With high levels of interest and varying degrees of activity around zero-emission fuels as well as favourable conditions for the potential bunkering of hydrogen-based zero-emission fuels across its major ports, Spain is well positioned to develop green shipping corridors to Europe and beyond, according to a new study by Global Maritime Forum.
The study “Green shipping corridors in and out of Spain: Assessing route-based opportunities” aims to put Spain on the map of green shipping corridors by identifying international routes with high potential and facilitating stakeholder dialogue.
It highlights the eight most promising green corridor routes in and out of Spain. The analysis based on the scale of trade, energy demand, dominant trade segments and policy environment showed that the United Kingdom, Italy, and the United States are the most promising partner countries for Spain for the development of green corridors, followed by Turkey, Morocco, and China.
Establishment of a green corridor includes several building blocks such as a viable fuel pathway, customer demand for green shipping, enabling policy and regulation, and cross-value chain collaboration.
The findings of the new study demonstrate high levels of interest and varying degrees of activity around zero-emission fuels among Spanish ports, as well as favourable conditions for the potential bunkering of hydrogen-based zero-emission fuels across the country’s major ports.
On the industry side, the potential demand for decarbonised freight and the presence of strong companies throughout the international shipping value chain further strengthen the case to advance green corridors in and out of Spain.
Findings also indicate various deep-sea opportunities in the container segment, such as container trade between China and the ports of Barcelona and Valencia and between US East Coast ports and Valencia and Algeciras. Short sea opportunities within Europe were also identified, such as container traffic between the ports of Bilbao and Liverpool, container traffic between Valencia and Turkey and general cargo traffic between Valencia and Italy. Finally, two promising cruise routes were identified, the Mediterranean cruise with Barcelona as the home port and the Atlantic Spain-UK cruise route.
The study builds on the results of the preliminary report conducted by the Global Maritime Forum and the Energy Transitions Commission in collaboration with the British Embassy in Madrid.
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Francisco Álvarez, Public Policy Attaché at the British Embassy, said: “The identification of these green routes offers opportunities to stimulate the growth of new value chains in Spain and the UK, including new zero-emission shipping technologies and services. The publication of this report is a first step that will follow public and private institutions to work together to develop these routes.”
Jesse Fahnestock, Project Director at the Global Maritime Forum, commented: “Studies like this showcase that the industry is taking concrete steps towards achieving shipping’s full decarbonisation. While working on this study, we encountered impressive enthusiasm and a deep understanding of the potential of green corridors across Spanish stakeholder groups. This is a rapid advancement from just over a year ago when our previous report, Green Corridors: The Spanish Opportunity, was published.”