News / Global biofuel production capacity predicted to be unable to meet shipping demand

Photo: VesselFinder

UK ship classification organisation Lloyd’s Register (LR) has warned shipowners and their decarbonisation-conscious customers that the cost of liquefied bio methane (LBM), the presumed drop-in replacement for LNG in the latest generation of newbuilds, is rapidly increasing compared with other forms of biofuel.

Shipping giants are looking to biofuels as one of the few options available to them to meet oncoming FuelEU guidelines, which mandate an increasingly aggressive schedule of CO2 emission reductions from existing ships, beginning in January next year, ...