Tug,
Ran into to this issue several years ago in SoCal, some crew and supply boats servicing rigs in off Ventura complained of power and fuel consumption issues on both varying degrees of bio-diesel and HVO fuels after a change in fuel was mandated by the local air board.
We did a program with CAT, Cummins and Southwest Research/UC Riverside to study the actual effects. There was a paper written and submitted to CARB and the EPA, but I can't find my copy of it and a web search didn't find it.
What we found was that Biodiesel, depending on blend caused a notable increase in fuel consumption, with B-5 increasing 1-3% and B-100 5-8%. Versions of the HVO fuel available at the time of our testing had 7-9% lower heating value than #2 diesel. Engines with mechanical fuel systems and NOT EPA certified could have fuel rack adjustments made to help maintain power output, but there were still issues noted with power and acceleration performance. We did find on some older mechanical fuel controlled engines we could adjust injection timing and compensate for some of the performance issues. Please note I dug up some of this info from some old emails and files, but the bulk of my info from the time was submitted to SwRI and when I retired I didn't keep a lot of the old paperwork.
Electronic engines with fuel rates controlled by the ECM could not be field adjusted to compensate for the fuel density and combustion characteristics of the Bio derived fuels. We did some test cell work at CAT and found we could improve fuel consumption and performance on some models of the engines being tested, but the engineering team found that at that time the certification process costs would be excessive, and both CARB and EPA were resistant to allowing modifications to type certified engines already approved. I understand Cummins did a similar path with same results. A local EMD dealer was able to get near #2 diesel power/performance on biofuels, but fuel consumption went way up, at least based on conversations with some of their techs. Our baseline diesel fuel was #2 Red Dye Diesel with an API gravity of 38, since most to the engines we were testing had defined performance data using fuel with an API gravity between 31 and 35, fuel consumption was already higher in most cases using the low sulphur diesel fuel.
I'll reach out to an old SwRI contact to see if he can get me a copy of the paper, and I did ask around to some older CAT contacts, seems there has been some work on newer biofuel blends, but not really much progress since the emissions certification process is pretty intensive these days.
From my own field work over the years I can tell you performance testing of higher performance CI engines has indicated many times that variable speed engine applications varied significantly different than constant speed applications, especially with emissions certified engines.
Hope that helps, MikeL