You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World INTERVIEW: KPI OceanConnect Sees Bunker Buyers Missing the Boat on Narrow Biofuel Premiums INTERVIEW: KPI OceanConnect Sees Bunker Buyers Missing the Boat on Narrow Biofuel Premiums by Jack Jordan, Editorial Lead - Insights, Ship & Bunker Monday June 22, 2026 Tweet Follow @shipandbunker Biofuel prices have remained stable while conventional fuels surged Shipping has yet to take advantage of the cheaper biofuels at scale Lower biofuel premiums are likely to last until prices return to pre-war levels Jesper Sørensen is global head of alternative fuels and carbon markets at KPI OceanConnect. Image Credit: KPI OceanConnect The shipping industry has not sufficiently taken advantage of the narrowing price spreads between conventional fuels and biofuels in recent months, according to global bunkering firm KPI OceanConnect . The war in Iran has driven up bunker prices back to highs not seen since the Russian invasion of Ukraine in 2022 . While Ship & Bunker 's G20-VLSFO Index of global prices is now down by almost 30% from its recent peak in March , it remains 36% above its pre-war level on February 27 . This has led to biofuels looking comparatively much cheaper,  Jesper Sørensen , global head of alternative fuels and carbon markets at KPI OceanConnect, said in an interview with Ship & Bunker. “ We have seen in certain locations that biofuels are actually cheaper than conventional fuels "What has largely gone unnoticed, or at least not gotten as much attention, is the fact that alternative fuels, by and large, have stayed stable," he said. "This means that the price spread for biofuels in particular has narrowed quite sig