A new DNV white paper, "Biofuels in Shipping," explores the potential of biofuels in reducing greenhouse gas (GHG) emissions in the maritime sector. While biofuels like FAME and HVO offer significant decarbonization potential and support compliance with regulations like CII, EU ETS, and FuelEU Maritime, their widespread adoption could be constrained by limited supply in the future.
In 2023, the maritime sector consumed only 0.7 million tonnes of oil equivalent (Mtoe) of liquid biofuels, representing a small fraction of global biofuel supply and shipping's total energy use.
However, the report highlights the need for stringent sustainability and GHG savings requirements for biofuels used in shipping, verified through a Proof of Sustainability (PoS) or similar document.
The report, based on interviews with biofuel suppliers and shipping companies, identified over 60 locations worldwide that have conducted biofuel bunkering operations since 2015, with Singapore and Rotterdam accounting for a significant portion of biofuel supply to shipping.
The report also outlines key technical and operational considerations for using biofuels, such as verifying fuel quality and compatibility with onboard systems.