Japanese auto majors Toyota and Suzuki said that they will deepen their collaboration in the fields of development and production in India. Under the initiative, the two companies will start production of a new SUV developed by Suzuki at Toyota Kirloskar Motor (TKM) from August this year, they said in a joint statement. The powertrains
Group of Seven negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at a summit starting in Germany. The negotiators known as sherpas held what one official described as ‘intense’ talks on the matter in the Bavarian Alps ahead of the
The CMA CGM Group (CMA CGM) and the Maritime and Port Authority of Singapore (MPA) have signed agreement to promote decarbonisation, digitalisation, and innovation across the maritime industry. Both the companies have said that they will explore the use of zero and low-carbon marine fuels including e-methanol, e-methane, and biofuels for commercial shipping. The deal
Singapore-based X-Press Feeders has agreed to use Value Maritime’s carbon capture feature and clean-loop systems. The systems will be equipped onboard two feeder boxships the 2007-built Atlantis A and the 2010-built X-Press Elbe. The Rotterdam-based Value Maritime, which will also fit Eastern Pacific Shipping’s two MR tankers with onboard carbon capture tech, has won a
BW LPG, the world’s leading owner and operator of LPG vessels, has announced that it has converted the main engine of the ‘BW Malacca’ to dual-fuel running. The last such conversion for a series of 15 LPG carriers, the ship’s MAN B&W 6G60ME-C9.2 type engine was retrofitted to an MAN B&W 6G60ME-C9.5-LGIP dual-fuel type capable
Japan’s Mitsui OSK Lines (MOL), Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding have launched a joint project aimed at developing and building an ocean-going liquefied gas carrier that will use ammonia as its main fuel. The vessel is envisioned as a mid-size, 40,000 cu m ammonia/LPG carrier equipped with a main engine that can run mainly
The EU and the UK have reached a compromise agreement to end investment protection for fossil fuels under the Energy Charter Treaty (ECT), after two years of negotiations. Under a flexibility mechanism approved by members of the energy investment treaty, the EU and UK will end protection for new fossil fuel investments from August 2023.
Afreximbank bank will part-finance activities designed to progress the first Floating Liquefied Natural Gas (FLNG) project in Nigeria being developed by UTM Offshore Limited. As per the deal, a continuation of the support of Afreximbank, which has been leading UTM’s fundraising efforts to secure the necessary investments required for the project’s implementation. In line with
Reliance Industries targets to produce green hydrogen at $1 per kilogram by the end of this decade. For this the Indian company is assessing new technologies for making electrolyzers in its efforts to produce low-cost green hydrogen in the country. As part of the push, the company also plans to bid for any production-linked incentives
The International Bunker Industry Association (IBIA) elaborated on the new “Unified Interpretation (UI)” approved by the IMO’s Marine Environment Protection Committee in June 2022 on the application of regulation 18.3 MARPOL Annex VI in relation to biofuels. Regulation 18 of MARPOL Annex VI, “Fuel Oil Availability and Qualities”, applies to fuels derived from petroleum refining