Clarksons and Vitol chart how shipowners can capture the rising demand for biofuels

UK shipbroker Clarksons believes owners must act now to secure tonnage capable of supplying the growing demand for biofuels in shipping.

Josh Saxby, the London-headquartered shop’s director of specialised products, said the global biofuels market has witnessed massive growth over the past two decades, largely driven by evolving regulations and the push for cleaner energy.

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Volumes have increased close to 400% since 2007, when the market totalled 5m tonnes per year, against 25m tonnes today.