• Fuel type: A drop-in fuel that can replace Gasoil and Fueloil.
  • Properties: Looks like and behaves like gasoil. It is produced from sustainable feedstocks. Feedstocks are categorised into 1st, 2nd and 3rd generation.
  • Uptake by industry: Not readily available globally for marine application. Available in a few locations.
  • Low carbon credentials: Strong, offering CO2 emission reduction between 65-95% based on well-to-wake LCA.
  • CO2: saving: 1st Gen. feedstocks (Crops), 65-75% CO2 reduction but challenged by food vs. fuel discussion. 2nd Gen. feedstocks (waste & residue), 85-95% CO2 reduction. Most promising for maritime applications. 3rd Gen. feedstocks (algae) Biofuels that are derived from algae are capable of higher yields with lower resource inputs. 4th Gen. feedstocks (micro organizations and genetically engineered feedstock) are amalgamations of genomically prepared.
  • Safety considerations: FAME standard specs meet EN14214. Pay extra attention to cold flow properties, oxidation stability, and acid value for FAME. HVO standard specs meet EN14590. HVO is chemically identical to petroleum diesel.
  • Availability: Although widely used on road transport, biofuel is only currently available in a few locations (2023).  With ever-tightening emission regulations, biofuel is expected to become more readily available in more ports.
  • Price: Argus is the most commonly used pricing platform for biofuels. The price depends on feedstock. Biofuel is more expensive than MGO and VLSFO.

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Weekly Spotlight on Biofuel Readiness

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