Marine Biofuel Demand Cools Amid Unclear IMO Rules
Shippers demand for lower-carbon marine fuels weakened this year as the regulatory framework from the International Maritime Organization remains uncertain. Sales at the port of Singapore dropped significantly while market participants await clear policy signals.
Marine biofuel sales in Singapore fell 47% to 603,000 tons through September as regulatory uncertainty weighed on global shipping demand. The drop reverses last year's trend when volumes more than doubled across the industry. Shippers are delaying investments in alternative fuels while awaiting pivotal environmental decisions.
