Biofuel key to maritime decarbonization, but supply challenges, says DNV
(Posted on 05/06/23)
DNV's latest white paper “Biofuels in shipping” finds that the flexibility of biofuels can enable the shipping industry to accelerate its journey towards decarbonization while maintaining operational efficiency. Current limitations in production capacity, however, may impact short-term supply and create stiff competition with other sectors.
With the shipping industry getting ready to meet decarbonization requirements, the use of biofuels is on the rise. The current global production capacity of sustainable biofuels is around 11 million tonnes of oil equivalent (Mtoe) per year. DNV predicts that a sustainable and economically viable supply of biofuels, ranging from 500 to 1300 Mtoe annually, can be achieved by 2050. However, to fully decarbonize shipping using biofuels, in combination with energy efficiency measures, an annual supply of 250 Mtoe of sustainable biofuels is required by 2050. This would represent 20-50% of potential global production.
“Biofuels are poised to play a notable role in the decarbonization of shipping. Nevertheless, existing constraints on production capacity and competition from other sectors is likely to impact short-term supply to the maritime industry,” said Eirik Ovrum, Principal Consultant in DNV Environment Advisor, “A major build-up of sustainable production capacity is needed before biofuels can reach their full potential and thus shipping’s goal of decarbonizing will need to be achieved in combination with energy efficiency measures as well as use of other low carbon fuels alternatives.”
Regulatory developments, such as The EU Emissions Trading System (EU ETS), present a strong incentive for embracing biofuels, making both biofuels and biomass highly sought after by various sectors as they strive for decarbonization. These resources are also currently being used in cooking, water and space heating, as well as timber and pulp and paper production posing some challenges to production capacity and availability.
The white paper takes a closer look at these challenges by shedding light on the potential role of biofuels in enabling the decarbonization of shipping, while also offering practical advice on the necessary preparations before integrating biofuels onboard vessels.
Latest News
Weathernews and Lauritzen Bulkers sign new 3-year contract
(Posted on 12/09/24)Weathernews, a global leader in weather intelligence and maritime solutions, has to announced a new... Read more
Decrease in medical disembarkations thanks to proactive health measures
(Posted on 12/09/24)Columbia Shipmanagement (CSM), a member of the Columbia Group, is reporting a noticeable decrease in... Read more
Mintra secures DNV certifications for Trainingportal and Seably platforms
(Posted on 12/09/24)Mintra, a leading provider of digital learning and human capital management solutions to the maritime... Read more
Partnership to provide mental health training for officers
(Posted on 12/09/24)Global marine services provider Oceanic, through its SeaMed24 Medical Solutions, will offer VIKAND&rsquo... Read more
Whitepaper highlights EU directives to put seafarer welfare in spotlight
(Posted on 08/09/24)VIKAND, in collaboration with other key maritime stakeholders, has published an analysis to advise the... Read more
ClassNK releases report ‘ClassNK Alternative Fuels Insight (Version 2.0)’
(Posted on 08/09/24)ClassNK has updated its report ‘ClassNK Alternative Fuels Insight’ initially released in... Read more
Technology key to reducing maritime emissions, DNV report
(Posted on 03/09/24)Reaching shipping’s 2030 decarbonization goal of 20% emission reductions, set by the International... Read more
AtoB@C Shipping christens Stellamar in Ystad
(Posted on 03/09/24)AtoB@C Shipping, a subsidiary of ESL Shipping, celebrated the christening of its second plug-in hybrid... Read more
ClassNK publishes estimated leak frequencies of ammonia fuel
(Posted on 03/09/24)ClassNK has published estimated leak frequencies of ammonia fuel from onboard components for ammonia... Read more
Tomini and Alpina announce transition in commercial management
(Posted on 27/08/24)The proprietors of dry bulk ship owner, Tomini Group and Alpina Chartering ApS have announced... Read more
