To shed light on and propel Brazil’s opportunity to accelerate shipping’s green transition, the Global Maritime Forum co-hosted the Oceans of Opportunity Summit in Rio de Janeiro on 3 November, alongside RMI, the Port of Açu, and the Port of Antwerp-Bruges.

Held just days before COP30 in Belém, the event featured the launch of a pre-feasibility study on a potential green shipping corridor transporting maritime e-fuels between Açu and Europe. The study, developed by RMI and the Global Maritime Forum, highlighted the competitive projected costs of e-fuel produced in Açu, due to Brazilian policies supportive of green hydrogen production, the country’s largely renewable electricity grid, its abundance of renewable energy sources, and a relatively low cost of capital. It builds upon the findings of the 2024 study Oceans of Opportunity, which identified the Port of Açu as a high-potential e-fuel export hub.

“Ports are no longer just gateways for trade,” Rogério Zampronha, CEO of Prumo Logística, parent company of the Port of Açu, said at the event. “They can be hubs for the energy transition.”

On the envisioned green corridor, ships transporting zero-carbon fuels produced in Açu, such as e-ammonia or e-methanol, would be powered by the same zero- or near-zero-emission fuels. The study focused on the Port of Antwerp-Bruges in Belgium as an export location due to the existing strategic partnership between the two ports. The Port of Antwerp-Bruges is one of the largest industrial and bunkering hubs of Europe with a significant projected e-fuel demand, offering a crucial opportunity for offtaking fuels transported from Açu.

No one can do it alone

The Oceans of Opportunity Summit drew more than 200 participants and featured panel discussions on the role of global regulation for shipping’s transition and industry readiness. Leaders from Everllence, C40 Cities, Fortescue, HIF, John Cockerill, NYK Line, and more discussed scaling e-fuel production for the maritime sector, emphasised Brazil’s competitive advantages in renewable energy, and highlighted the need for creative commercial structures to respond to pressing challenges around offtake.

The Summit focused on financing models for e-fuels, with speakers from Elemental Energy, the World Economic Forum, the Brazilian Development Bank (BNDES), and EIG highlighting mechanisms such as blended finance structures, platform-based investments to de-risk multiple projects, and initiatives like H2Global to manage price volatility. Presenters also noted that regulatory clarity remains essential for mobilising the private capital needed to scale e-fuel production.

Keynote speakers emphasised the importance of collaboration between like-minded organisations to underpin investments and steer shipping’s decarbonisation in the right direction.

“No stakeholder, no company, no country can solve really complex global challenges on their own,” said Global Maritime Forum CEO Johannah Christensen. “We need to work together with others in order to solve these systemic challenges.”

Continued collaboration between Açu and Antwerp-Bruges

Going forward, the Port of Açu and the Port of Antwerp-Bruges will continue their collaboration, including in the further exploration of a green shipping corridor. This agreement was formalised via a letter of intent signed at the Oceans of Opportunity Summit.

“This agreement is more than a bilateral milestone,” Eugenio Figueiredo, CEO of the Port of Açu, said. “It is a signal to the world that South and North collaboration works.”

The Global Maritime Forum and RMI will continue to support the development of a potential green e-fuel export shipping corridor between the ports, building on the pre-feasibility study launched at the event.