EMEA News
SIBCON 2024: Gibraltar Suppliers Gear Up for Expansion in Biofuel Offering
Gibraltar's bunker suppliers are preparing for a significant expansion in their offering of biofuel bunker blends.
Two large suppliers already have biofuel blends available, and two more plan to enter this market next year, a local source told Ship & Bunker on the sidelines of the Sibcon industry event in Singapore last week.
Demand for biofuels at Gibraltar has thus far been low, limited to sporadic pilot trials. But the introduction of the FuelEU Maritime regulation next year is expected to drive a sharp increase in sales.
FuelEU Maritime comes into effect from January 2025, seeking to reduce the carbon intensity of European shipping by mandating a percentage of companies' marine energy use that must come from sustainable sources.
The regulation aims for a 2% drop in carbon intensity next year, rising to an 80% reduction by 2050.
