As net-zero dynamics gather traction in the ocean freight industry, UK-based insurance multinational North Standard is seeing a strong uptake of biofuels.
Says Mark Smith, loss prevention director for decarbonisation at the protection and indemnity P I club: These are genuine drop-in fuels, removing the need for engine and tank conversions and/or dual-fuel system installations. That makes biofuels viable for older ships coming to the end of their operational lives.
However, risk is part of this greener fuel strategy.
