Purus Marine orders two ethane VLECs

UK-based owner Purus Marine has placed an order for two very large ethane carriers (VLECs) at HD Hyundai Heavy Industries in South Korea. The 98,000 cu m units will deliver in 2026 and 2027 for a price tag of $170m each, according to a regulatory filing by HD Korea Shipbuilding & Offshore Engineering, the shipbuilding

‘Finding sustainable fuel sources a top priority’

Finding non-fossil sustainable resources which could replace traditional fuels should be a priority objective because “we are approaching a climate tipping point,” President Droupadi Murmu said while addressing a conference organised by the Aeronautical Society of India (AeSI) to commemorate its 75th Anniversary. The President added that to reduce the carbon footprint, “we need to

World’s richest 1% emit as much carbon as poorest two-thirds

The richest one percent of the global population are responsible for the same amount of carbon emissions as the world’s poorest two-thirds, or five billion people, according to an analysis published by the nonprofit Oxfam International. While fighting the climate crisis is a shared challenge, not everyone is equally responsible and government policies must be

GasLog gets $2.8bn finance for decarbonisation

US-listed Greek liquefied natural gas (LNG) shipping player GasLog has landed a $2.8bn sustainability-linked financing deal. The five-year agreement with 14 banks refinances all outstanding debt of $2.1bn secured by 23 LNG carriers across both GasLog and GasLog Partners. The loan, in which Citibank and BNP Paribas acted as joint coordinators, is linked to decarbonisation

Making netzero emissions impossible with offsets

The idea that we can mitigate current carbon emissions by ‘offsetting’ them with carbon reduction initiatives elsewhere has become central to government and business responses to climate change. But it is an idea we need to seriously question. Essentially, the offsetting strategy assumes the release of carbon stored by ancient biology a hundred million years

Cadeler secures $54m green loan from HSBC

Denmark-based Cadeler has secured financing from HSBC to help fund the construction of its newbuilds and upgrade the existing vessels. The BW Group-backed offshore wind contractor has struck a deal for a five-year €50m ($54.2m)unsecured green loan, which comes with a non-committed accordion option of up to €50m. The Cadeler fleet consists of two operational

EnergyX aims new solid-state EV battery

Electric vehicles are just like ordinary gas guzzlers in some respects, including their lifespan. They need to be replaced every once in a while. That kicks a whole ecosystem of automotive supply chain activity into gear, with a new carbon footprint piling up along the way. A longer-lasting solid-state EV battery would help cut those

Rooftop solar potential could be critical to energy transition

Over 25 crore households across India have the potential to deploy 637 GW of solar energy capacity on rooftops, according to a new independent report by the Council on Energy, Environment and Water (CEEW) released. The CEEW report said that deploying just one-third of this total solar technical potential could support the entire electricity demand

Vedanta launches first low-carbon green aluminium

Vedanta Aluminium, India’s largest aluminium producer, has made a significant stride in sustainable manufacturing by dispatching its first domestic supply of Restora, India’s inaugural low-carbon ‘green’ aluminium, to Global Aluminium Pvt Ltd in Telangana. In a landmark deal, Vedanta will supply 300 metric tons of Restora Billets, marking a key moment in the industry’s move

India to initiate incentive scheme for EV battery production

India is set to initiate the bidding process for an approximately Rs 8,000 crore ($960 million) incentive scheme dedicated to the production of electric vehicle batteries, as disclosed in a Bloomberg report. The scheme will mandate successful bidders to establish cutting-edge chemistry battery plants, collectively generating a capacity of 20 gigawatt-hours. The government is slated