Significance of Biofuels in Shipping Industry

Biofuels are emerging as a crucial solution for reducing CO2 emissions in the shipping industry due to their low sulfur levels and CO2 emissions. However, the challenge lies in the enormous volumes of biofuels required to meet the needs of the sector, especially considering there are over 100,000 commercial vessels. Different types of biofuels, such as ethanol and biodiesel, utilize various feedstocks like corn or vegetable oils, which raise concerns about competition with food supplies.