Shipping industry leaders oppose biofuel use in climate
Several prominent players in the shipping industry, such as Hapag-Lloyd AG and Louis Dreyfus Co., have raised concerns about the potential adoption of crop-based biofuels at sea fleets. The companies have urged the International Maritime Organization (IMO) to implement legally combined safeguards to prevent the transfer from fossil fuels to what they call unsustainable biofuels, Bloomberg reported. Also read: Browse the evolving landscape of EU transport regulations The transportation industry is responsible for transporting more than four-fifths of global trade and currently relies heavily on traditional fuels. A review was called for when delegates met in London to discuss new regulatory strategies to reduce greenhouse gas emissions. The company believes that crop-based biofuels, such as palm oil-derived biofuels, are more environmentally damaging than conventional fuels when considering factors like deforestation and land use changes. According to Indexbox data, Europe is actively engaged in the trade in biodiesel, a biofuel. In 2024, the Netherlands led the export market with a value…
China to launch first marine biofuel export quota in 2025
China plans to issue its first export quotas for marine bunker fuel blended with biodiesel, aiming to support domestic biofuel producers affected by EU anti-dumping duties. Industry sources and consultancy JLC reported that the government was considering a quota of 500,000 tons, which could be allocated to state oil companies PetroChina, Sinopec and CNOOC. The mixed fuel, called B24, is composed of 24% biodiesel and 76% low-sulfur fuel oil, which is different from the low-sulfur fuel oil conventionally exported from China. The quotas are expected to be rolled out in late 2024 or early 2025. The move addresses challenges faced by Chinese biodiesel refiners, whose exports fell sharply after the EU imposed steep tariffs in August. State-owned refineries could use carbon credit incentives to promote the adoption of low-carbon marine fuels for ships on routes between China and the EU. The program also supports the Chinese port of Zhoushan in promoting biofuel sales, in line with global trends in major…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
