Putting a price cap on Russian oil on the G-7 negotiators agenda

Group of Seven negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at a summit starting in Germany. The negotiators known as sherpas held what one official described as ‘intense’ talks on the matter in the Bavarian Alps ahead of the

CMA CGM and MPA to collaborate on decarbonisation in maritime industry

The CMA CGM Group (CMA CGM) and the Maritime and Port Authority of Singapore (MPA) have signed agreement to promote decarbonisation, digitalisation, and innovation across the maritime industry. Both the companies have said that they will explore the use of zero and low-carbon marine fuels including e-methanol, e-methane, and biofuels for commercial shipping. The deal

X-Press Feeders to use Value Maritime’s carbon capture systems

Singapore-based X-Press Feeders has agreed to use Value Maritime’s carbon capture feature and clean-loop systems. The systems will be equipped onboard two feeder boxships the 2007-built Atlantis A and the 2010-built X-Press Elbe. The Rotterdam-based Value Maritime, which will also fit Eastern Pacific Shipping’s two MR tankers with onboard carbon capture tech, has won a

BW LPG completes conversion of the main engine of the ‘BW Malacca’ to dual-fuel

BW LPG, the world’s leading owner and operator of LPG vessels, has announced that it has converted the main engine of the ‘BW Malacca’ to dual-fuel running. The last such conversion for a series of 15 LPG carriers, the ship’s MAN B&W 6G60ME-C9.2 type engine was retrofitted to an MAN B&W 6G60ME-C9.5-LGIP dual-fuel type capable

UTM Offshore signs an agreement with Afreximbank for FLNG project financing

Afreximbank bank will part-finance activities designed to progress the first Floating Liquefied Natural Gas (FLNG) project in Nigeria being developed by UTM Offshore Limited. As per the deal, a continuation of the support of Afreximbank, which has been leading UTM’s fundraising efforts to secure the necessary investments required for the project’s implementation. In line with

Reliance on the lookout for inexpensive green hydrogen technologies

Reliance Industries targets to produce green hydrogen at $1 per kilogram by the end of this decade. For this the Indian company is assessing new technologies for making electrolyzers in its efforts to produce low-cost green hydrogen in the country. As part of the push, the company also plans to bid for any production-linked incentives

IMO removes regulatory impediment to encourage biofuels

The International Bunker Industry Association (IBIA) elaborated on the new “Unified Interpretation (UI)” approved by the IMO’s Marine Environment Protection Committee in June 2022 on the application of regulation 18.3 MARPOL Annex VI in relation to biofuels. Regulation 18 of MARPOL Annex VI, “Fuel Oil Availability and Qualities”, applies to fuels derived from petroleum refining

Europe is reluctantly turning to coal, as gas supplies from Russia drop

Germany, Italy, Austria and the Netherlands have all indicated that coal-fired plants could be used to compensate for a cut in Russian gas supplies. European governments are scrambling to fill underground storage with natural gas supplies ahead of the winter. German Economy Minister Robert Habeck has warned that the situation is going to be “really

ABS and Texas A&M Qatar agree on landmark carbon capture joint study

A landmark study into carbon capture and the global supply chain is to be carried out in collaboration between ABS and Texas A&M University at Qatar (TAMUQ). The project will research the potential of carbon capture technology at sea. It will explore CO2 reduction strategies as well as emerging onshore CO2 reduction technology and establish

MAN and UGS make joint decarbonization commitment

Following a meeting during the 2022 Posidonia trade fair in Athens, MAN Energy Solutions and the Union of Greek Shipowners (UGS) – the leading trade association for Greek shipowners – have announced their mutual commitment to a policy of decarbonization, especially in regard to the testing and development of alternative fuels and, more generally, the