Shipping executives say demand for low‑carbon marine fuels has softened this
year as uncertainty over the International Maritime Organization’s (IMO)
emissions framework persists and some firms opt to use carbon credits. IMO
member states are due to meet before early November to discuss formally adopting
a net‑zero framework to guide the industry to zero carbon by 2050. In Singapore,
the world’s largest bunkering hub, government data show Jan–Sep sales of marine
biofuels totaled about 603,000 tonnes, down 47% versus the same period in 2025.
Jens Maul Jorgensen, a director at dry‑bulk owner Oldendorff Shipping, said: “I
do not expect biofuel demand to grow significantly before the IMO makes its
decision.”
