BIMCO drafts new clause to support biofuel use in time charters

BIMCO has launched a new subcommittee to develop a Biofuel Clause for Time Charter Parties, marking a proactive step toward addressing the legal and operational challenges posed by the growing use of biofuels in shipping.  With regulatory frameworks like the EU ETS, FuelEU Maritime, and the upcoming IMO Net-zero Framework measures reshaping fuel strategies, biofuels

Union Budget gives boost to energy transition projects

Finance minister Nirmala Sitharaman announced policy measures that will expedite energy transition away from fossil fuels, and help companies access cheap credit for green projects that are key to curbing carbon emissions. In her budget speech, Sitharaman said that the government will soon come out with a taxonomy for climate finance, which will make it

EVs, ethanol blends gaining traction in Indian auto sector’s fuel transition

India’s automotive industry stands at a critical juncture, with electric vehicles (EVs) gaining traction while ethanol, a biofuel derived primarily from sugarcane, emerges as a viable and immediate solution to reduce the country’s oil import dependency and improve air quality. The government’s ambitious target of achieving a 20 per cent ethanol blend with petrol by

G7 leaders issue statement to accelerate transition away from fossil fuels

Leaders of the Group of Seven (G7) developed democracies will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at the end of their ongoing summit in Italy. Other commitments on climate policy in the draft include a pledge “to phase out

Transition to zero-emission fuels could generate massive new jobs

In a new report, the industry coalition suggests that the maritime sector’s transition to zero-emission marine fuels will be instrumental in generating new jobs. If the transition goes as expected, it could see the number of people employed by shipping and the maritime supply chain double from two million to four million by 2050. Critical

Liners urge IMO to address price gap for green fuel transition

The proposal, submitted to the International Maritime Organization (IMO) ahead of next month’s gathering of the Marine Environment Protection Committee (MEPC), addresses the industry’s challenge to bridge the price gap between the cleanest fuels and fossil fuels.

Thorium can guarantee green energy transition

Invention of Mehul Shah, Founder and CEO of Clean Core Thorium Energy, comes in. The Chicago-based company has developed (and patented) a fuel, which is a mix of Thorium and Uranium of a certain level of enrichment, called HALEU (High Assay Low Enriched Uranium). Clean Core calls this concoction ANEEL (Advanced Nuclear Energy for Enriched

Maritime industry’s clean energy transition challenge

The volume of maritime trade is projected to triple by 2050 as demand increases. However, the reliance on carbon-emitting fuel to power shipping vessels creates a significant environmental toll with maritime shipping contributing to about 3% of total global greenhouse gas emissions. This environmental cost highlights the urgency of mitigating emissions and achieving full decarbonization

Wärtsilä enables acceleration of marine’s transition to sustainable fuels

Technology group Wärtsilä will introduce another four methanol engines to its portfolio, setting a new industry benchmark with the broadest methanol engine portfolio currently on the market. In addition to the Wärtsilä 32 methanol engine launched last year, Wärtsilä will add the Wärtsilä 20, Wärtsilä 31, Wärtsilä 46F and Wärtsilä 46TS to its portfolio of

Govt working on estimating cost of netzero transition

According to Nageswaran, the total cost and impact of transitioning to Net Zero needs to be fully understood. According to Nageswaran, the total cost and impact of transitioning to Net Zero needs to be fully understood. The Union government is working with a multilateral development bank to estimate how much money it will cost India