Decarbonisation
The International Maritime Organization has committed to slashing total annual greenhouse gas emissions by at least 50% by 2050, compared with 2008, and it aims to decarbonise the sector fully by the end of the century. The shipping industry is facing up to the challenge, developing new fuels and stronger, environmentally-friendly practices. But with tighter rules and regulations on both a regional and global level to contend with, agreement on the best approach is not easy
Scrubber-fitted boxship fleet exceeds 40% for first time
As the introduction of more scrubber-fitted newbuildings has surged since January there has been a significant improvement in the price spread between high-sulphur fuel oil and low-sulphur fuel oil
Red Sea attacks and crew shortage represent fresh risks for shipping, ICS survey shows
Physical attacks against commercial shipping stood out as one of the biggest risks in a survey of over 100 shipping executives, while availability of trained personnel is now viewed as having the greatest impact on operations
Owners looking for alternatives to the alternatives
As the regulatory net begins to close and the opacity surrounding green fuels shows no signs of lifting imminently, shipowners and operators at Capital Link discussed the options left on the table for owners to comply with emissions rules
Methanex to buy OCI Global’s methanol business
Canada-based methanol supplier Methanex agreed to buy one of its main competitors in a sign of consolidation in the market ahead of rising demand for low-carbon methanol
LR pushes biofuels as cost-effective way to meet regulations
But feedstock availability and aviation demand challenge biofuel adoption in shipping
Shipowner calls for CII fudges may miss the point
Shipping groups want myriad tweaks to the CII so they don’t receive bad ratings for fuel consumption beyond their control. But too much ‘normalising’ could undermine the regulation’s ability to do its job and miss the bigger picture, green shipping expert warns
LNG the best alternative fuel option for now, says WinGD chief
Two-stroke engine designer chief executive says alternative fuel production will need to ramp to meet maritime decarbonisation ambitions
Cosco Shipping begins construction of Dalian hydrogen-based energy terminal
Dalian plans to develop Changxing island into a hydrogen-based power hub in northeast Asia. A second phase will see it offering green fuel bunkering services
Methanol ‘happy hour’ has come to an end, says DNV Maritime chief executive
Decarbonisation is slowing down due to high shipbuilding costs, limited yard space for retrofits and a lack of investment in alternative fuel production, says DNV Maritime chief executive Knut Ørbeck-Nilssen
Cosco joins carrier ordering spree with $2.2bn methanol-powered boxships
With the latest deal, Cosco’s containership orderbook capacity increases to about 800,000 teu, making it second only to MSC and CMA CGM
The week in charts: Israel port volumes fall | Containership data signals very strong August for Los Angeles | Suezmax and aframax lead tanker newbuildings
Israeli authorities are seeking to reassure the shipping community that its ports are safe despite the war, data shows cargo flow into Los Angeles and Long Beach is still strong, and tanker ordering activity shows resurgence
The week in bunkers: Will Amsterdam spoil ARA mass flow meter party?
Amsterdam has no plans to make mass flow meters mandatory in bunker deliveries, diverging from Rotterdam and Antwerp-Bruges
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