Australia's ABEL Energy has announced it is looking to accelerate the potential construction of a manufacturing plant at the Cleveland Bay Industrial Park in the Townsville State Development Area to produce 400,000 tonnes per annum of green methanol marine fuel.

Shipowner Hapag-Lloyd has reported that it reduced the absolute greenhouse gas emissions of its fleet by 0.8 million tonnes in 2023 compared to the previous year, and it also ‘significantly increased the amount of bunkered biofuel blend to more than 200,000 tonnes’.

A new study from Brussels-based NGO T&E says transport is lagging behind the rest of Europe’s economy in its decarbonisation and the sector is on track to account for nearly 50% of the region’s GHG emissions in 2030.

A new report by Wärtsilä finds the cost of sustainable marine fuels could align with the price of conventional bunkers by 2035 with the support of ‘decisive emissions policy’, such as carbon taxes and emissions limits.