Global shipping is hoarding massive quantities of biofuels as the industry commits to decarbonise and operate in a net-zero green economy.
It comes as the total “end game” for renewable and biodiesel fuels is “about 70 million tons”, with shipping and aviation consuming the bulk of fuels as freight vehicles, inland and short-sea shipping transition from petrol and diesel fuels to battery-powered electric technology.
As reported in Forbes, more than 930,000 tons of biofuel blends have already been stored in Singapore and Rotterdam, with the Australian government looking to develop one of the world’s largest “Renewable Fuel Hubs” in Portland – home to its “Green Triangle.”
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