World fleet wont be able to handle biofuel trade
The world̵7;s shipping industry may be ill prepared to cope with the logistic demands associated with the current global drive towards biofuel use, the CEO of risk management specialist Lloyd̵7;s Register has warned.
Speaking at the Institute of Marine Engineering, Science and Technology in London, Richard Sadler told shipowners that if second and third-generation biofuel technologies are successful, current projections would see the world fleet struggling to accommodate cargoes.
The forecast increase in demand would require an additional fleet equivalent to 400 ̵6;Handysize̵7; bulk carriers by 2030, Sadler said, but contradictory information is making operators uncertain of the risk associated with investing in new capacity.
The solution, he suggested, is to look at ways of ̵6;hedging̵7; the future through oil tanker designs that are flexible enough to be constructed now and converted later to keep pace with increasing biotrade.
̶0;Companies investing time and money in developing technology into economically viable and socially acceptable solutions are naturally keeping quiet about the technology or products being developed,̶1; Lloyd̵7;s Register said in a statement.
̶0;Current ship designs are constrained by current legislation, creating poor designs if biofuel becomes a large scale global energy source. New standards may be required to meet essential safety and environmental needs and an early start is essential to meet these challenges.̶1;
Image: Richard Sadler ̵1; ship designs need to be flexible