News

July 07, 2008

That Was The Week That Was ... Investment In Renewable Energy To Hit $600 Billion By 2020

By Sally White

As world trade in alternative energy rises, shipping companies are questioning if there is sufficient capacity to meet demand. An extra 400 vessels will need to be built to meet demand over the next 20 years, according to Norwegian chemical tanker company Odfjell.

Speaking at a Lloyd’s List conference called “Bio-fuels – a New Shipping Market”, Klaus Walderhaug, senior analyst at Odfjell, said ethanol trade now contributed over seven per cent of Odjfell’s  total trade, up from two per cent in 2002, although biodiesel made up only one per cent. Vegetable oils and fats accounted for five per cent.

Trade in bulk biomass from Africa and Latin American will also expand, says Thor Emil...