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Biofuels to Make Up 4% of Marine Fuel Mix in 2030: DNV
Classification society DNV projects that marine biofuel blends will account for 4% of global conventional and alternative fuels consumption in 2030.
Biofuels have been described as the first low-GHG fuel in extended use, according to DNV’s latest Energy Transition Outlook 2025 report.
The report outlines a three-stage transition for marine energy: biofuels becoming popular through the 2030s, e-methanol enters widespread use from 2037, and ammonia follows in 2039 as the zero-carbon option.
LNG, however, will continue to hold a larger share of the fuel mix through this period.
DNV says this progression to alternative fuels will underpin a long-term decline in oil-based bunker consumption.
Over time, the class society expects ships running on fossil-marine fuels, LNG, and biofuels to be retrofitted with onboard carbon capture systems.
“We project that 4% of emissions from ships running on fossil fuels will be captured by CCS in 2042,” DNV said.
The report also foresees nuclear propulsion gaining traction in the late 2050s.
It sees electrification as viable only for short-sea operations and port activities, but not feasible enough for ocean-going vessels.
DNV forecasts that, overall, the shipping sector will reduce CO2 emissions by 77% by 2050, although it will not yet reach full net zero in line with the IMO’s 2050 ambition.
The report can be found here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 481.00 | 1.00 | 675.50 | 3.50 |
| Rotterdam | 442.50 | 0.00 | 666.50 | 1.50 |
| Houston | 461.00 | 0.50 | 661.50 | 1.50 |
| Fujairah | 481.50 | 2.00 | 738.00 | 1.50 |
| Global 20 Ports Average | 513.50 | 1.50 | 760.00 | 0.00 |
| Global 4 Ports Average | 466.50 | 1.00 | 685.50 | 0.50 |
| Global Average Bunker Price | 556.00 | 1.00 | 802.00 | 1.00 |
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