Sinopec has signed a deal with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project. Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian. The project is expected to be completed and operating by the end
The shipping industry’s investment in reaching carbon net zero has been understood in a new report launched by BCG today: ‘Decarbonization and Willingness to Pay (WtP) in the Global Shipping Industry’. The key finding shows that despite global economic and geopolitical challenges, urgency to address climate issues in the sector have grown. Those surveyed highlighted
Renewable sources of energy are forecasted to overtake coal as the largest source of electricity generation worldwide by early 2025, Paris-headquartered International Energy Agency said. The forecast holds remarkable significance to keep alive the global goal of limiting Earth’s warming temperatures to 1.5 degrees Celsius. The agency also said that the world is set to
The Marine Environmental Protection Committee (MEPC), the part of the International Maritime Organization (IMO) dealing closely with shipping’s path to decarbonization, began its MEPC79 meeting on December 12th. Also mentioned previously, a great deal of the MEPC’s work in getting to a consensus occurs in the background, specifically in working groups that are held in
The technology group Wärtsilä’s ongoing project partnership with the Mӕrsk Mc-Kinney Møller Center for Zero Carbon Shipping has been further strengthened with the company signing as an official Mission Ambassador. The not-for-profit research and development center is aimed at accelerating the transition towards a net-zero future for the maritime industry. Together with partners, the Center
The Rajya Sabha cleared the Energy Conservation (Amendment) Bill, 2022 aimed at putting in place provisions to make the use of clean energy mandatory. The development also paves the way for the setting of carbon markets in the country. The bill was passed by Lok Sabha in August 2022. The Energy Conservation (Amendment) Bill, 2022
Maruti Suzuki India Limited (Maruti Suzuki) informed the exchanges that it has unveiled the Wagon R Flex Fuel prototype model in Delhi. The first-of-its-kind mass segment Flex Fuel prototype car was launched in the presence of Union Minister of Road Transport & Highways Nitin Gadkari. Aligned with the government’s clean and green initiatives, the Wagon
The State Water Transport department (SWTD) has entrusted the National Transportation Planning and Research Centre (Natpac) with the task of revising the fare structure of its fleet of ferries that operate mainly in Ernakulam, Alappuzha, Kollam, and Kannur. Ferries of the department now operate at rock-bottom rates that were last revised, albeit nominally in 2020,
The International Maritime Organization should adopt a more ambitious greenhouse gas emission reduction target by 2030. For the first time since May 2019, IMO member states meet in the agency’s London headquarters to attend the 79th session of the agency’s Marine Environment Protection Committee. The session will run until Friday. IMO is currently in the
Australian hydrogen shipping start-up Provaris Energy, formerly Global Energy Ventures (GEV), has secured design approval from the class society American Bureau of Shipping (ABS) for its 26,000 cu m compressed hydrogen carrier. In 2021, the company received ABS approvals in principle for the 26,000 cu m ship dubbed the H2Neo and the larger 120,000 cu