A central role for biofuels in the new regulatory era

New regulation on greenhouse gas emissions from shipping only increases the need for solutions that can make a difference now.
2023 heralds yet another shift in shipping’s regulatory tectonic plates. It marks the beginning of the CII era, and this year will also see the scaling and implementation of a number of regional, international and national regulations aimed at reducing greenhouse gas (GHG) emissions from the maritime sector.
These regulations each approach the decarbonisation equation from a slightly different angle.
Some put a price on carbon, and others act directly on the carbon intensity of ships. However, they all point to the same conclusion - shipping’s decarbonisation must happen and reducing GHG emissions is now a duty for individual companies.
As a result, decarbonisation is no longer a question confined to long-term strategic plans.
The recent or imminent entry into force of new regulation increases the pressure on shipping to reduce its carbon footprint now.
However, shipowners and charterers are entering this new regulatory playing field without having all the answers about how new rules will impact their...