IBIA CONVENTION 2025: LNG, Biofuel and Carbon Capture Are Shipping's Low-Hanging Fruit

A panel at the IBIA Annual Convention 2025 is discussing alternative fuel options for shipping. Image Credit: Ship & Bunker

LNG, biofuel and carbon capture offer the most accessible near-term route to reduce emissions, with more complex fuels still seen as longer-term options, delegates at the IBIA Annual Convention in Hong Kong heard on Thursday.

The two fuels are the most mature alternative fuels available in the market, with established supply chains and use cases across multiple regions, according to a panel discussion at the industry event.

"I mean, we already have biofuels in several previous discussions, as low-hanging fruit," a panelist said, adding LNG is also there.

The panelist was speaking under the Chatham House rule, allowing his comments to be reported but not attributed by name.

He described carbon capture technology as increasingly viable for shipping today, with ammonia and other fuels still regarded as longer-term prospects.

The emphasis on carbon capture was echoed across other sessions at the convention. At a separate IBIA panel discussion yesterday, Lynn Loo, CEO of GCMD, argued that carbon capture is very critical, as two-thirds of today's 60,000 ships will never bunker future bunker fuels.

A second panelist described a multi-fuel future for the industry, saying fuel uptake would ultimately depend on availability and cost.

"I think knowing how cost-conscious the industry is in all parts of the industry, it must be the best bet in the short, medium," the second panelist said.

The panel also discussed that delays to the adoption of the IMO's Net-Zero Framework had encouraged some shipowners who were already undecided on future fuel choices to postpone decisions further.

"People who were dragging their feet just had a great excuse not to, so ... the thing has increased," a third panelist said.

"It's not that you've actually changed people's minds, you know, you've just cemented them in what they were doing anyway."