EMEA News
Carbon Scores Are the New Fuel Specs in the Biofuel Market: PRIO
In today's marine fuel market, carbon intensity is becoming just as important as price and blend percentage when it comes to assessing fuel value.
As shipowners navigate tightening emissions regulations and rising decarbonisation expectations, a new mindset is taking shape: biofuels are no longer viewed merely as an alternative, but as a strategic compliance tool.
And the metric increasingly guiding these decisions is clear - the carbon score.
Portuguese biofuel producer and bunker supplier PRIO sees the marine biofuel market moving towards benchmarks based on GHG performance rather than simply the feedstock type.
"Today, the value of biofuels is increasingly determined by carbon intensity—considering the entire life cycle of the fuel, from well to end use, Telmo Ferreira, Head of Emerging Businesses and Shipping at PRIO, told Ship & Bunker.
PRIO operates a biodiesel production facility in Portugal alongside a storage facility, allowing the company to offer customised blends tailored to each client's operational and sustainability requirements.
"While feedstock categories still matter for regulatory compliance, especially under schemes like FuelEU Maritime and the upcoming IMO Net Zero Framework, all indications are that the most consistent benchmark for the future will be emissions reduction performance."
And the change is already playing out in commercial behaviour. Shipowners are not only willing to pay more for fuels with stronger carbon savings, but some are even requesting specific emissions performance thresholds as a condition of purchase.
Shipowners willing to pay more for verified emissions savings
"We already had several examples of some shipowners that paid a premium to supply our biodiesel if we could provide them a certain level of carbon emissions savings (lower than 10 gCO2eq/MJ), attested by the POS (Proof of Sustainability) that we also provide to them," Ferreira said.
That growing willingness to pay more for fewer emissions reflects a deeper mindset shift across the marine fuels space. PRIO observes that the industry is moving away from a purely cost-per-tonne focus, toward a new metric: cost per tonne of CO2 avoided.
"Customer profiles are changing rapidly and are increasingly prioritising compliance and emissions performance over just the lowest price per ton, Ferreira notes.
"Many are already willing to pay extra for biofuels that offer a significant reduction in CO₂ emissions, even if the cost per ton is higher."
In practice, this has led shipowners to make more informed fuel choices, selecting not just blends like B30 or B24, but combinations tailored to specific GHG savings and regulatory use cases.
"Shipowners are already making informed decisions regarding the specific % of biodiesel and the related GHG savings that they are willing to obtain.
"Therefore, we think that PRIO and the other players with the same flexibility can have a competitive advantage, because having our biodiesel plant side by side with our MGO storage facilities, we can tailor-make the blend according to the clients' and vessels' sustainability needs."
B30 stands out as the most requested blend
That operational flexibility has allowed PRIO to supply a range of biofuel grades — from B10 to B100, including blends such as B15, B24 and B30 — to more than 25 vessels so far this year, including oil tankers, container ships, and cruise vessels.
B30 has emerged as the most commonly requested blend.
Since March, PRIO has delivered around 1,700 mt of marine biofuels under its Eco Bunkers brand name.
This includes 200 mt of 100% FAME (EcoBunkers B100), 900 mt of MGO + FAME blends such as B15, B24 and B30, and 600 mt of pure HVO.
"In May, almost 20% of our supplies already had some biodiesel content," Ferreira added.
Cruise sector leads early demand for biofuels
PRIO has also secured long-term supply contracts with cruise companies for HVO deliveries in Lisbon — a sign that premium biofuels with verified sustainability credentials are no longer niche, but a growing part of core marine fuel strategies.
Looking ahead, PRIO expects demand for marine biofuels to increase sharply from 2028, when new IMO measures under the Net Zero Framework are expected to take effect.
"A significant increase in demand for maritime biofuels is expected from 2028," Ferreira said.
"What we are already witnessing confirms this trend: a strong surge in biodiesel demand within maritime, positioning biodiesel as one of the most prepared fuels to meet these future targets."
While future regulations may create upward pressure on biofuel prices, Ferreira believes there is still "substantial untapped potential in advanced feedstocks to sustainably increase future biodiesel production."
"There are still some residual feedstocks that can be explored and used to produce sustainable biodiesel towards the maritime sector.
Biofuels poised to play long-term role in marine fuel mix
Ferreira sees biofuels remaining a key part of the marine fuel mix in the longer term, even with new fuels such as ammonia joining the mix.
"There will not be a 'silver bullet' for the shipping sector regarding the alternative fuels and in the medium-long term, we will need all of them, ammonia, methanol, bio-LNG.
"However, I think that biodiesel will always be a part and an ingredient of the recipe to achieve the challenging sustainability objectives."
