A new report by the International Chamber of Shipping (ICS), published on Tuesday (23 June) found that LNG and biofuels are seen as the most viable marine fuels over the next decade.
This was followed closely by HFO (Heavy Fuel Oil) combined with abatement technologies while methanol ranked in fourth place.
The report found that in 2025 to 2026, maritime leaders are displaying a preference for traditional fuels that have established supply mechanisms.
The ICS Maritime Barometer Report 2025–2026 surveyed C-suite level leaders, shipowners, and operators worldwide to identify the key risk areas shaping shipping.
Despite slight decline, LNG shared top spot with biofuels as one of three most viable future fuels over the next decade.
LNG maintained its position as a joint leading fuel in the Barometer, with roughly 51.35% of leaders naming it as one of the most viable fuels over the next decade.
“This is despite a marginal softening in sentiment amongst maritime leaders compared to last year’s survey, reflecting its continued role as the most immediately scalable alternative within the current fuel mix,” the report said.
However, the report noted that this positioning is increasingly shaped not just by infrastructure maturity, but by how geopolitical instability translates into fuel-specific perceptions of security, routing exposure, and price volatility across global trade flows.
This is particularly evident in Asia-Pacific and the Middle East, where LNG’s role is reinforced through continued investment in import and bunkering infrastructure.
Singapore remains the world’s leading LNG bunkering hub, supported by expanding small-scale supply chains and vessel availability, while South Korea and China are rapidly scaling receiving and bunkering capacity to support both shipping and power demand growth.
Biofuels record one of the sharpest increases in sentiment across the future fuels landscape to match LNG at 51.35% in this year’s report.
“This could reflect a shift driven less by structural conviction and more by operational response to heightened uncertainty in global energy and trade systems,” it said.
Their growing prominence could be closely linked to the increasing attractiveness of low-friction compliance options in a context where alternative fuels remain constrained by uneven infrastructure development, fragmented regulatory alignment, and delayed capital deployment across key regions.
Compared with LNG, which is shaped by infrastructure lock-in and geopolitical price exposure, biofuels offer immediate operational flexibility.
Japan has emerged as a key driver of marine biofuel adoption, with government-backed trials involving major shipping lines such as NYK testing biofuel blends on international routes. China has also expanded pilot programmes using biodiesel and waste-derived fuels in coastal shipping, reflecting a pragmatic approach to emissions reduction in regional trade flows.
Note: The ‘ICS Maritime Barometer Report 2025–2026’ can be viewed here.
Photo credit: william william on Unsplash
Published: 26 June, 2026
