KPI OceanConnect says shipping industry has largely failed to capitalize falling biofuel prices
In the UK, Ship and Bunker says KPI OceanConnect believes the shipping industry has largely failed to capitalize on increasingly competitive biofuel prices. Rising bunker fuel costs following the Iran conflict have narrowed the price gap between conventional fuels and biofuels, with some biofuel blends becoming cheaper than traditional marine fuels in certain markets. In Rotterdam, biofuel blends have become more cost-effective when emissions compliance costs are included, while similar trends have emerged in Europe and Asia. Despite these advantages, many shipowners have been slow to increase biofuel purchases, missing potential cost and emissions benefits.
Category: Fuels
