A traditional, low-profile Greek owner has become the first company in the world to get a biofuel notation from the American Bureau of Shipping (ABS).
The company’s 60,200-dwt bulker Aquataurus (built 2017) has become “the first vessel in the world to qualify”, the two firms said in a joint statement.
ABS Biofuel-1 notation is granted to ships using a blend containing up to 30% of biofuel.
“We are very proud to support Carras (Hellas) in their initiative to use biofuels as part of their sustainability strategy,” ABS vice president for regulatory affairs Stamatis Fradelos said.
“We are excited to be pioneers, together with ABS, of obtaining the assignment of the Biofuel-1 notation to Aquataurus,” Carras (Hellas) president Captain Costas Liadis added.
Several shipowners view drop-in biofuels as an immediately available solution to lower their carbon footprint.
So-called “B30” biofuels are a popular option.
Cargill Marine Fuels head Olivier Josse told TradeWinds on Tuesday that the company and its partners sold 225,000 tonnes of biofuels on a B30-equivalent basis in 2023. That was a significant share of a total marine biodiesel market of 1.3m to 1.5m last year.
However, bulker players have been usually less enthusiastic to take up such fuels than container liners and car carriers.
One reason for this is that prices for carbon in the European Union’s Emissions Trading System have been falling, which weakens the economic incentives to pay for biofuels that are more expensive than conventional bunkers.
But more regulation on the horizon could give biofuel demand a lift — particularly for Europe-based players such as Carras (Hellas) who will be subject to the FuelEU Maritime law entering force next year to gradually decrease caps on shipping’s carbon intensity.
According to the ABS/Carras (Hellas) statement, the Greek company plans to use biofuels nominated up to B30, where 70% is fossil fuel and 30% is biomass coming from either hydrotreated vegetable oil or fatty acid methyl esters.
Carras (Hellas) is listed with a fleet of 13 ultramaxes and kamsarmaxes built between 2012 and 2024 and with an average age of six years.
The Aquataurus, which is trading worldwide, has a main engine from Wartsila and three auxiliary Yanmar engines.
