Update on TCO analysis for seagoing shipping

Background

Platform Renewable Fuels is developing a total cost of ownership (TCO) study for fuels in the maritime sector. In this project, we review the TCO of different alternative fuel-engine combinations available to the maritime sector. We do this by combining existing TCO tools and our own regulatory cost models. We aim to identifying gaps and opportunities for the use of alternative fuels and explore potential further analyses. On Thursday March 19^th we organise an online stakeholder meeting in which we present our results and discuss our findings, you can register by clicking on the right hand side.

Earlier research conducted at Radboud University highlights the important role of considering operational costs (OPEX) in the development of business cases for investing in zero-emission shipping. Furthermore, the research of DNV (2025) reveals that the cost of fuel plays a highly influential role in determining the Total Cost of Ownership (TCO). Historically, due to the abundance of relatively cheaply available fossil fuels, investment decisions for shipowners were largely dominated by CAPEX. However, with renewable fuels and stricter mandates, the OPEX of the ship will highly affect the total cost of ownership. Incorporating these cost elements is crucial for developing effective business cases and ultimately driving sustainable investment choices in the shipping sector.