(570a) Adoption of Biofuels for Marine Shipping

Biomass-derived fuels can undoubtedly play an essential role in a future of marine fuel that is more renewable and offers potential synergistic benefits when blended with petroleum fuels. Biomass-derived marine fuel would reduce sulfur content, as well as improve overall emission profiles and ultimately environmental sustainability (including decarbonization) for marine transport. For example, biofuel derived from biomass such as forest residues is expected to deliver possibly up to 90% of life cycle (or well-to-propeller) greenhouse gas reduction versus fossil equivalents, and virtually eliminate SOx emissions – potentially without any requirement for engine modifications. For the benefits of biofuels to be realized and to be impactful, a significant fraction of marine fossil fuel will need to be displaced with biofuel. The direct replacement of marine fossil fuel with a biofuel necessitates that the production volume of biofuel will be high enough to meet the demand. Furthermore, the potential of biofuel adoption also depends on the future biofuel price. Hence, the long-term price and availability of marine biofuel are two critical factors for establishing the feasibility of marine biofuel adoption for operating vessels. This study will shed light on the prospect of biofuel to be adopted for the maritime shipping sector.