While I am fully in accord with DFW about the advantages of storing water or some other hydrogen compound then extracting the H2 later on, I don't agree with his interpretation regading what a fuel processor does. Core rules, p.110:
"Fuel processors convert unrefined fuel into refined fuel. One ton of fuel processors can convert 20 tons of unrefined hydrogen into refined fuel per day."
"Fuel" in Traveller has always meant liquid hydrogen, whether refined or unrefined. Fuel scoops, not fuel processors, are the basic equipment that gathers fuel - the processors are used to produce H2 of higher purity required for safe jump operations. Core pp140-1 supports this.
But as discussed above and in a previous thread on this topic, hauling tanks of water around to be converted into H2 later is a very valid concept, since it takes up less volume than the H2 that can be extracted from it, it's easy to store and cheap (usually free) to obtain*. Normal cargo space can be used, either by converting it or just by carrying big tanks of it as cargo. Turning off the heating and carrying it as ice is also an option - though this would add another level of processing (i.e. melting it and feeding it into the electrolysing chamber. I just had a vision of ice-fuelled spaceships, with "wet gang" crew members shovelling ice into a furnace, where the steam is then passed through a chamber to crack it. Steampunk, indeed...).
* Ammonia has its points, but is more difficult to store, is much more toxic, less easy to obtain and has less use for life support purposes. Plus it smells.