- Lloyd’s Register (LR) report suggests biofuels can extend ship lifespans with minimal investment.
- Biofuels can reduce greenhouse gas emissions by up to 84%, according to the report.
- Shipping will face competition from other sectors like aviation for biofuel supply, leading to potential price increases.
Lloyd’s Register (LR) analysis highlights the potential of biofuels to extend the working lives of existing ships with low capital expenditure. In cases where retrofitting to low- or zero-carbon fuels like methanol or ammonia isn’t feasible, biofuels are seen as a key strategy for shipowners, reports Seatrade Maritime.
Minimal Modifications Needed for Biofuel Adoption
The LR report, titled Fuel for Thought: Biofuel Report, emphasizes that biofuels can be used as “drop-in” replacements for traditional fuels. These fuels require minimal changes to ship machinery and operations, but they can still reduce greenhouse gas emissions by up to 84%.
One major advantage of biofuels is their compatibility with existing ship machinery, bunker tanks, and fuel systems. They use the same bunkering infrastructure as current fuel oils, and the required training for crew members is minimal compared to other future fuel options.
Feedstock Availability and Regulatory Compliance
The report notes the availability of biofuel feedstock as a key benefit, particularly with tightening emission regulations such as FuelEU Maritime. Owners of passenger ships, ro-ro vessels, and container ships will need to adopt fuel management strategies to avoid regulatory penalties starting in January 2025.
According to LR, the most suitable biofuels for ships include Fatty Acid Methyl Ester (FAME) and Hydrotreated Vegetable Oil (HVO). However, shipowners should monitor further developments in biofuels, as new options could affect ship machinery.
Engine Considerations and Risk Management
The LR analysis also delves into engine and machinery considerations for biofuels, advising shipowners to develop risk management strategies when trialing biofuels that have not yet been tested in ship engines.
Shipping will need to compete with other sectors, such as aviation, for biofuel resources. As demand increases, the cost of biodiesel blends is expected to rise, driven by the climbing prices of feedstock.
Biofuels as a Short-Term, Affordable Solution
Tim Wilson, LR’s Principal Specialist for Fuels, Lubes, and Emissions, stresses the appeal of biofuels, “Biofuels are unique among the future fuels for shipping as the vast majority of the world fleet is equipped with engines that can use them. As a drop-in replacement for fossil fuels, biofuels are an available and affordable method of reducing carbon emissions in the short term without large capital investment. The range of biofuel trials across ship segments and biofuel types reflect a strong level of interest from shipowners in their use on board.”
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Source: Seatrade Maritime
