PIRAEUS Container Terminal, a fully owned subsidiary of Cosco Shipping Ports, will provide biofuel bunkering services to meet customers’ increasing decarbonisation requirements, the company said in a statement.

The move aims to satisfy rising demand for greener needs from its customers, said PCT.

The Greek government has adopted Joint Ministerial Decision 115/2024, redefining biofuel blending ratios in line with the latest ISO 8217:2024 specifications.

Under the updated standard, marine fuels can now contain up to 100% fatty acid methyl ester, a significant increase from the previous cap of 7% for distillate fuels.

The company said it had engaged external legal counsel to reassess the legal framework for conducting biofuel bunkering operations at its terminal. It is also working with suppliers to expand the options available to clients seeking biofuel services.

The move comes as the FuelEU Maritime regulations came into force this year, while the new carbon price agreement was reached at the International Maritime Organization to facilitate the industry’s transition. 

Biofuels are considered one of the most readily available drop-in alternatives to traditional bunker fuel, although broad adoption still faces cost and supply hurdles.

PCT is the crown jewel among Cosco Shipping Ports’ overseas terminal assets and one of its most significant revenue contributors.

Piraeus ranked as Europe’s fourth-largest container port in 2023 by throughput, although volume declined by nearly 8% last year due to ongoing disruptions caused by the Red Sea crisis.