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
Shipping’s green fuel gold rush could create up to 4m jobs
The bulk of new jobs to be created in the energy industry will be to build the necessary renewable infrastructure that is needed to produce green hydrogen
Rising demand and cheaper prices boosted LNG bunker market in China
Liquefied natural gas bunker prices in China were competitive with Singapore last year
GCMD and NYK to launch six-month biofuel trial on shortsea vessel
The biofuel blend consists of very low sulphur fuel oil and fatty acid methyl esters, which may lead to corrosion and potential clogging in vessel systems
Shell to sell Singapore refinery to Glencore joint venture
Shell’s Pulau Bukom refinery is an important bunker fuel supplier for the Singapore market
Shipping missing out on greater efficiency gains
Danish Ship Finance once again called for a voyage performance index, as the bank suggests the industry is missing out on greater energy efficiency gains because of its commercial architecture
Baltic Sea scrubber pollution cost society €680m, study estimates
Researchers in Sweden estimated the cost of marine ecotoxicity damage from the discharge of scrubber water in the Baltic Sea from 2014-2022 was more than €680m, while shipowners quickly recouped the cost of installing scrubbers
Fortescue completes ammonia-powered sea trial in Singapore
FFI Green Pioneer concluded a fuel trial in March, representing the first-ever ammonia bunkering operation
EU ETS and Red Sea crisis swell Maersk bunker bill in first quarter
Maersk introduced a €23 per dry teu ETS surcharge on the east Asia to north Europe route during the first quarter based on an ETS price estimate of €82 per tonne of CO2
Trafigura returns to HD Hyundai Mipo with new order for ammonia-fuel gas carriers
Commodities trading giant Trafigura has penned newbuilding contracts for four ammonia dual-fuel liquefied petroleum gas carriers, which will also be capable of ammonia carriage
Nitrous oxide emissions are no laughing matter
More data is needed on how much N2O, also known as laughing gas, will be emitted from ships burning ammonia as fuel
Bibby Marine orders world’s first zero-emission wind farm vessel
Bibby Marine chief executive Nigel Quinn said project shows that clean vessels can be built for same ownership costs as fossil fuel-powered counterparts
Cheaper LNG helps HSFO outsell VLSFO in Rotterdam
LNG marine fuel sales at Rotterdam surged 150% year on year to 215,000 cu m, with gas an average 15% cheaper than very low sulphur fuel oil
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