Stena Bulk's bio-based fuels program is the beginning of wide-scale adoption by European shipping fleet operators

August 21, 2020 | Case Study

In April 2018, the International Maritime Organization (IMO) adapted its greenhouse gas emissions strategy during its 72nd session that involved more than 100 IMO member states, dubbed IMO 2050. The strategy is a multipronged approach for overall emissions reduction including energy efficiency, operational changes, and adoption of low-carbon and zero-carbon energy sources. IMO 2050's goal of reducing CO₂ emissions by 50% compared to 2008 levels will largely depend on the latter. There are currently three pathways for decarbonization under consideration, one of which is the liquid pathway using bio-based fuels in the near term and evolving into synthetic fuels in the long term. Earlier this year, Lux predicted that Europe would spearhead the initiative of blending biofuels into its operations in 2020, and it is quickly gaining traction despite COVID-19.