Overview of one year progress

One of the central elements of the IRA in relation to sustainable marine fuel is the focus on incentivizing research and development in alternative fuels. The Act recognizes the unique challenges faced by the maritime sector, such as the need for high-density energy sources to power large vessels over long distances. Consequently, the IRA supports the exploration of various sustainable options like biofuels, hydrogen-based fuels, and ammonia, which are seen as potential alternatives to traditional heavy fuel oils.

In addition to research and development incentives, the IRA also provides tax credits and financial support for infrastructure development. This includes the establishment of refueling and recharging stations for alternative marine fuels at major port