MSC warns of higher shipping costs in Europe

Mediterranean Shipping Company (MSC) has warned clients of higher costs with the inclusion of shipping in the EU’s carbon trading market. The EU emissions trading system (ETS), part of the “Fit for 55 package” to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, requires companies to surrender allowances that

Sasaki bags contract to build methanol bunkering ship for Singapore

Global Energy Trading and Stellar Ship Management Services, wholly owned subsidiaries of Global Energy Group, have contracted Japan’s Sasaki Shipbuilding to build a 4,000 dwt tanker, which will become the first dedicated methanol bunkering ship in Singapore, the world’s largest bunkering hub, when it delivers at the end of next year. Tags: Bunkering, Methanol, Sasaki

Philly Shipyard bags $1bn order for three LNG ships

Under a contract valued atb$1bn, Philly Shipyard will construct three 3,600-TEU, LNG dual-fuel container ships for Matson Navigation. Among the largest container ships ever built in the US, the first of the three 260-m Aloha-class vessels will be delivered in Q4 2026, with subsequent ships handed over in 2027. The Big Board-listed Jones Act shipowner

RightShip’s rating toll to provide EEXI values in GHG

Digital maritime platform RightShip is updating its greenhouse gas (GHG) rating tool to incorporate Energy Efficiency Existing Ship Index (EEXI) values from the first quarter of 2023. The changes being introduced will make its GHG rating the industry’s first rating to include the EEXI, the Existing Vessel Design Index (EVDI) and the Energy Efficiency Design

NYK, K Line, MISC and China LNG order more gas ships

A quartet of Asian shipping powerhouses have won the next tranche of business in the huge QatarEnergy fleet expansion project. A consortium comprising Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) from Japan, Malaysia’s MISC and China LNG Shipping, the Cosco/China Merchants joint venture, have ordered five 174,000 cu m LNG carriers at

DHL purchases sustainable marine fuel for greener freight shipping

DHL Global Forwarding, the air and ocean freight specialist of Deutsche Post DHL Group, and GoodShipping are expanding their partnership on sustainable shipping via insetting with 60 million litres of sustainable marine fuel. With the latest purchase of sustainable marine fuel, DHL expects to reduce a total of 180,000 tonnes of CO2e TtW in shipping

Nearly all companies will miss netzero goals

While more than one-third (34%) of the world’s largest companies are now committed to Net Zero, nearly all (93%) will fail to achieve their goals if they don’t at least double the pace of emissions reduction by 2030, according to a new report from Accenture. Based on an analysis of commitments to emissions reduction and

Stopping new offshore drilling can deliver 40% global emissions

Stopping new offshore drilling, along with other ocean-based solutions, can deliver nearly 40% of the global emission reductions needed by 2050, an analysis by Washington-based ocean advocacy group Oceana shows. The analysis released ahead of the 27th UN Climate Change Conference (COP27) in Egypt, has estimated that halting the expansion of offshore drilling, combined with

BP to supply hydrogen to Australian industry from 2025

The Australian hydrogen mega project proposed by a BP-led consortium will probably supply local industrial buyers from the mid-2020s, with the main export ambition realised from 2030, BP chief financial officer Murray Auchincloss. The first phase, to supply “nearby mining and other industries,” was relatively simple and could happen from the middle of the decade

CoolCo announces plans to add four LNG vessels to its fleet

LNG carrier owner Cool Company (CoolCo) has revealed plans to buy four vessels from Quantum Crude Tankers, an affiliate of Idan Ofer’s Eastern Pacific Shipping (EPS) and its largest shareholder. A spinoff of Tor Olav Trøim’s Golar LNG said it would pay around $660m for two modern two-stroke 174,000 cu m vessels Kool Firn and