Biofuels Could Make Up 5-10 Percent of Global Marine Fuel Mix By 2030

by Ship & Bunker News Team
Friday November 6, 2015

According to GoodFuels Marine CEO Dirk Kronemeijer, biofuels could make up 5-10 percent of the total global marine fuel mix by 2030, Hellenic Shipping News reports

Though the figures are an estimate, the company said that it is planning on a more formal global study to "research the scaling of the supply and demand of sustainable marine biofuels."

The increase in use is expected to be driven by both regulatory and market factors, which include the introduction of stricter Emission Control Areas (ECAs) at the beginning of 2015, along with greater financial incentives in ports for ships that emit less emissions. 

Biofuels, unlike liquefied natural gas (LNG) would also likely be "drop in" fuels that require relatively little modification costs to vessels.

"Sustainable marine biofuels are not at an experimental stage – they are providing a commercially viable solution today, which is why more and more shipowners are actively pursuing this route." Kronemeijer said. 

"Shipping is the last of the major transport modes to turn its eye to biofuels as way of becoming less emission-intensive."

Kronemeijer also theorises that more focus on corporate social responsibility will prompt more companies to consider alternative fuels. 

Ship & Bunker reported last month that GoodFuels Marine had launched a sustainable marine biofuels program with Wärtsilä Corporation and Royal Boskalis Westminster N.V, a program which is expected to help hasten the uptake of biofuels by looking at industry certification and how to scale production.