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

Shipping still falls short on decarbonisation after climate talks

The organisation that regulates shipping made little fresh progress toward decarbonising the industry during a series of meetings last week.  The main outcome from talks hosted by the United Nations’ International Maritime Organization was agreement to revise, in 2023, its decarbonisation strategy – and that wasn’t really new. A non-binding proposal on zero emissions didn’t

RIL to restructure, repurpose gasification assets

Mukesh Ambani-led Reliance Industries (RIL) informed in an exchange filing that the company will restructure and repurpose gasification assets as the board of RIL has decided to implement a Scheme of Arrangement to transfer Gasification Undertaking into a Wholly-Owned Subsidiary. The board has accordingly approved a Scheme to transfer the Gasification Undertaking as a going

Designated ‘net-zero’ lanes could push the shipping industry to clean up its act

The world’s ever growing global economy runs on shipping– this means that supplies from food to building materials. Some of the items and materials we order online (including from huge companies like Amazon) from overseas often make it to our doorsteps thanks to shipping lanes and canals that connect the world. Shipping canals all over