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Cyprus Shipping Chamber welcomes 40% production benchmark for clean shipping fuels

14:58 - 26 April 2024

Companies Reporter

The Cyprus Shipping Chamber has strongly welcomed the adoption of the Net-Zero Industry Act by the European Parliament.

An announcement from the Chamber notes that the Act includes clean fuels for shipping, including advanced bio-fuels and e-fuels, in the list of net-zero technologies and introduces a benchmark for the Commission and the EU Member States to match 40% of the deployment needs for clean fuels for shipping with production capacity.

"This is a vital step to ensure that clean fuels for shipping are made available in the market at an affordable price, as a prerequisite for shipping to meet its target under the Fuel EU Maritime Regulation," the Chamber's announcement says, adding, "The scaling up of production and uptake of clean fuels for shipping is a top priority for the shipping industry on the path to net zero GHG emissions by 2050."

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