Argus Media: Bunker biofuel pilot projects launch in Asia
21 Dec 2020
Sammy Six of global energy and commodity price reporting agency Argus Media on Friday (18 December) published a summary on the take up of biofuel at various Asian shipping markets despite the relatively high cost and lack of governmental incentives in place:
The marine industry has shifted its attention to accommodating the International Maritime Organisation’s (IMO) greenhouse gas (GHG) strategy, after having to adjust to the Covid-19 pandemic and the implementation of the IMO’s global sulphur cap in marine fuels.
The IMO’s goals consist of reducing carbon emissions in the maritime sector by 40pc by 2030 and by at least 50pc by 2050 from 2008 levels.