Shipping gears up to meet 5-10% low carbon fuel target, but will fuels be available?
The International Maritime Organization’s (IMO) targets for the use of zero or near-zero fuels in 2030 can be met using sustainable biofuels. Many different sectors will compete for those fuels, so shipping is focusing on transitioning to alternative green and blue fuels. Today, only 1% of bulk, container, and tanker ships are prepared for using these fuels and fuel availability is low.
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Posted:
20 December 2023
BIMCO's Shipping number of the week
- Container ship contracting spree now exceeds 10 million TEU
- Product tanker contracting hits 18-year high after 17% rise y/y
- US grain exports seen rising 12%, but sailing distances could shorten
- India now depends on Russia for 40% of its crude oil imports
- Container ship fleet expands by 11%, fastest growth in 15 years
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