ZeroNorth achieves first operating profit amid growth in shipping’s energy transition

Four and a half years after its founding, ZeroNorth achieved its first month of positive earnings before interest, taxes, depreciation, and amortisation (EBITDA), in December 2024. This achievement comes on the back of significant growth, with the company reaching just under $40 million in annual recurring revenue (ARR) for the year, a 38% increase from

ICS backs emissions pricing proposal to IMO

The International Chamber of Shipping (ICS) has proposed a greenhouse gas emissions pricing mechanism for shipping, outlined in a joint submission to the International Maritime Organization (IMO). The coalition has suggested amendments to the MARPOL convention that would require shipping companies to make contributions, per tonne of GHG emitted, to a so-called IMO GHG Strategy

Maersk to use up to 20% alternative fuels for its fleet in 2030

A.P. Moller-Maersk, a global shipping leader, is targeting up to 20% of its marine fuel consumption to come from alternative sources by 2030. This move is critical to the company’s goal of achieving net-zero emissions by 2040. Maersk consumed 10-11 million metric tons of fuel oil equivalent in 2022, with only 3% from alternative fuels.

Denmark bans scrubber discharges form 2025

Denmark’s government has joined the growing list of countries taking action against open-loop scrubbers, having reached a “broad political agreement” to ban the discharge of washwater from scrubbers into its waters, starting next year. The ban that covers ships with open-loop scrubbers out to 22 km from the Danish coasts comes into force on July

IMO’s carbon tax to fuel shipping sector’s transformation

The United Nations’ International Maritime Organisation (IMO) decided to charge a levy for each ton of shipping emissions from cargo ships that travel across oceans. The 2023 IMO strategy on the reduction of Greenhouse gas (GHG) emissions from ships was adopted by IMO member states in July 2023. A commitment to ensuring the uptake of

Maritime industry rapidly changing, facing multiple global challenges

Arsenio Dominguez assumed the role of Secretary-General of the International Maritime Organization (IMO) with a vision centered around transparency, inclusion, and diversity. In the face of evolving challenges within the maritime industry, ranging from climate change to security threats, he emphasizes the need for efficiency, resilience, and forward-thinking. Drawing on his extensive experience as a

Shipping industry proposes ZESF fund for netzero transition

The International Chamber of Shipping (ICS) has submitted a comprehensive proposal to the UN International Maritime Organization (IMO), advocating for the creation of a Zero Emission Shipping Fund (ZESF). The proposal aims to accelerate the transition of the global commercial shipping fleet to net-zero emissions by 2050. The plan, backed by shipowners worldwide, proposes mandatory

Green ammonia production key to decarbonizing shipping industry

A study by researchers at the University of Oxford found that green ammonia could be used to fulfill the fuel demands of over 60% of global shipping by targeting just the top 10 regional fuel ports. By looking at the production costs of ammonia which are similar to very low sulphur fuels, the team concluded

Why shipping is opting for green hydrogen-based methanol?

Despite an upcoming crunch in available biogenic CO2 for e-methanol, extra costs for ammonia-fuelled vessels may swing the balance in the short term, says IEA report. Green ammonia and methanol — derived from renewable hydrogen — are widely expected to be used in the future to reduce greenhouse gas emissions from the highly polluting shipping

Hydrogen fuel cells offer a viable zero-emissions solution

Around 90% of everything we consume is moved by sea and maritime transport is responsible for around three per cent of global CO₂ emissions. According to Siemens Energy, due to these revised IMO standards, thousands of container vessels, yachts, and ferry operators worldwide will need to replace their heavy fuel oil and diesel generator drive