Marine Energy demand may decline with new IMO policies for 2050 goal: IEA

Even although Red Sea shipping interruptions have increased short-term bunker demand, the International Energy Agency said Oct. 16, marine energy demand will eventually drop if the International Maritime Organization offers additional policy incentives to meet its net-zero aim by 2050. The Paris-based energy watchdog stated in its latest annual World Energy Outlook that shipping sector

IEA predicts that fossil fuels may become more affordable and plentiful.

According to the International Energy Agency, the transition to clean energy is expected to be expedited by governments, which could result in fossil fuels becoming substantially more cheap and abundant by the end of the decade. The global energy watchdog has announced the dawn of a new energy era, in which countries have access to

By December, India will implement a national green steel initiative.

Indian government intends to instigate a national green steel mission by December of this year. In order to encourage sustainable production, it is anticipated that the definition of such products will be established in October. According to Sandeep Poundrick, secretary of the Ministry of Steel, the initiative is based on the National Green Hydrogen Mission.

India studying $2 bn plan for greener boats

India is finalizing plans to offer almost $2 billion in incentives to replace fossil-fuel powered passenger vessels on inland waterways, like barges and ferries, with a cleaner fleet. The initiative, proposed by the shipping ministry earlier this year, will be backed by 149.2 billion rupees ($1.8 billion) in subsidies over ten years and is currently

NYK’s engine facility for testing new marine fuels is up and running

Japanese shipping company NYK has started operating its test engine facility to evaluate the safety of new fuels and shorten review time, aiming for practical use within a period of three months. NYK broke ground on the test facility in Chiba Prefecture at the beginning of the year and put it into operation on October 1. NYK

Busan New Port Completes First Hydrogen Refueling Station for Cargo Trucks

Busan New Port has inaugurated its first hydrogen charging station for cargo trucks, a significant advancement in the port’s shift towards eco-friendly energy. The Busan Port Authority (BPA), under the leadership of President Kang Jun-seok, collaborated with Changwon City and other partners to establish this facility within the New Port’s business office in Yongwon-dong, Jinhae-gu.

IndianOil forms JV with EverEnviro to boost biofuel adoption in India

IndianOil has announced a 50-50 joint venture company with EverEnviro Resource Management focused on advancing the use of biofuels across India. Santanu Gupta, Executive Director (Alternative Energy) at IndianOil, and Mahesh Girdhar, MD & CEO of EverEnviro, signed the agreement in the presence of senior managers from both organizations, including IndianOil’s N Senthil Kumar, Alok

Matrix Gas is preparing to launch a green steel utilizing hydrogen to replace coal.

India has started producing green steel as it continues on its path to becoming net-zero by 2070. The first phase of the Steel Ministry’s pilot project to decarbonize the industry is scheduled to begin in Raipur, led by Matrix Gas and Renewables. The soon-to-be public company will replace coal in the production of sponge iron

Nitin Gadkari urges automobile industry to promote ethanol, flex fuels

Minister for road transport and highways Nitin Gadkari has asked automobile manufacturers to look into ways of making ethanol and flex fuels more acceptable to the public, citing Brazil’s successful integration of biofuels in its transportation systems. The minister also discussed how a shift to biofuels from fossil fuels would help India become #AtmaNirbhar (self-reliant),

GBA signs agreement to set up its secretariat in India

In a significant move, India signed the Host Country Agreement (HCA) with the Global Biofuels Alliance (GBA) to officially establish the Alliance’s Secretariat in India.According to a statement of Ministry of External Affairs on Friday, the agreement was signed by Dammu Ravi, Secretary (Economic Relations) from the Ministry of External Affairs, and Pankaj Jain, Secretary