New global shipping task-force aims for greener, safer work

The creation of a task-force to help the global shipping sector cut its climate-heating carbon emissions and support millions of workers in the transition to greener ways of operating has been hailed as a “landmark” move by industry members. Representatives of ship-owners, seafarers and the UN Global Compact, the world’s largest corporate sustainability initiative, agreed

New lubricants will be key to the renewable-fuel transition

Ship operators must work alongside the companies they charge with maintaining engine condition in order to ensure a smooth transition to using alternative fuels. That is the challenge laid down by Lubrizol’s Technical Manager for Marine Engine Oils, Ian Bown, as the company explores how it must adapt lubricants to protect ship engines burning alternative

Boskalis secures €24 mn research grant to advance emission-free shipping

A broader maritime consortium in which Boskalis is participant has been awarded a EUR 24 million grant to conduct research into accelerating the use of methanol as a low-carbon fuel within the shipping industry. Methanol can enable significant reductions in CO2 emissions compared to traditional fuels and is viewed within the international maritime sector as

IMO moves ahead on GHG emissions, Black Carbon and marine litter

The International Maritime Organization (IMO) in view of the urgency for all sectors to accelerate their efforts to reduce GHG emissions – as emphasized in the recent IPCC reports and the Glasgow Climate Pact – recognized the need to strengthen the ambition of the Initial IMO GHG Strategy during its revision process. IMO’s Marine Environment

Maersk showcases design of its methanol powered box ships

Maersk Line, the world’s biggest container shipping company, on Wednesday show-cased the design of eight carbon neutral, methanol powered huge box ships it has ordered at South Korea’s Hyundai Heavy Industries. The carrier owned by Danish shipping and transport behemoth A P Moller Maersk Group A/S said it is “a very meaningful and impactful first

E-methanol: Missing piece to shipping’s decarbonisation puzzle?

Approximately 80% of the world’s traded goods move via ship. But the shipping industry is also responsible for 2%-3% of global carbon emissions, according to S&P Global Platts Analytics. While shipping is one of the most efficient modes of transportation, the industry’s reliance on fossil fuels has made the path to decarbonisation difficult. That has

Adani’s Carmichael mine gets ready to ship coal

Billionaire Gautam Adani’s coal mine in Australia, a project that’s become a global emblem for opposition to fossil fuels, is preparing to begin exports after more than a decade of bitter dispute over its development. Proposed in 2010 and stalled by legal challenges, financing setbacks and a sustained campaign from climate activists, the operation is

Decarbonisation will bring new risks for safer shipping

Shipping’s safety record has improved significantly over the past decade, with vessel losses down by 56 per cent between 2012 and 2020, according to a major new study by Lloyd’s List Intelligence and class society DNV. This is the result of increased digitalisation, modern class rules, and tighter regulatory supervision, among other measures. This positive

Seasonal weakness could take some heat out of oil prices

Oil prices are expected to stabilise near current levels over the next few months, then decline progressively over the course of next year, according to the latest forecasts from the US Energy Information Administration. The EIA expects output increases from OPEC+, US shale firms and other oil producers will outpace slowing growth in consumption, helping

Pak OCAC requests DG Oil to resolve furnace oil overload issue

Independent Power Producers (IPPs) are allegedly under-maintaining stocks of High Sulphur Furnace Oil (HSFO) and Low Sulphur Furnace Oil (LSFO), with reportedly all storages of power plants empty or having a back up of only 2 to 3 days at the moment, following which the Oil Company Advisory Council (OCAC) has requested the Petroleum Division