A LEAKED draft of a key European Commission policy document designed to cut carbon emissions has confirmed shipping industry fears that enforcement chaos is looming and at the same time prompted outrage from environmental lobbyists who claim the rules will prove to be a “climate disaster”.

While the final text of the so-called FuelEU regulation is not due to be published until July 14, the draft text has offered an early view of the bloc’s flagship emissions policy set to determine the pace of European shipping’s decarbonisation trajectory.

The regulation requires ships to progressively switch to sustainable marine fuels by introducing “goal-based fuel greenhouse gas intensity targets” that increase in stringency over time, requiring ship operators to reduce the carbon footprint of the energy used on board ships.

Read more on the EU’s proposals and industry reaction here.

Dry bulk orders

Dry bulk operators might be relieved at the news that the mammoth orderbook looks smaller than it was a few years back but the headaches that might arise from any distortion look worrisome, with the sector already the unhappy recipient of a significant number of new orders this year.

New data show that close to 21m dwt of new orders have been placed so far in 2021 and despite uncertainties, enthusiasm for new tonnage is showing no signs of dissipating.

In deadweight terms, the new orders are up 81.8% and 52.8% compared to the same period in 2020 and 2019 respectively.

Find out what this may mean for the market here.

Yantian Port backlog

After disruption lasting the better part of a month, Yantian Port resumed full operations this week and is still working its way through the logjam of container vessels.

On Wednesday (June 23), figures from Lloyd’s List Intelligence showed 87 boxships comprising 441,337 teu in the anchorages nearby Hong Kong, as the disruption at Yantian spreads to the nearby hubs of Nansha and Shekou.

The number has fallen from its peak of 104 ships comprising 611,966 teu on June 14. Part of the reason for the decline is vessels now being instructed to omit the ports altogether.

In its latest port update this week, Maersk expected “continued vessel omissions and vessel delays at Yantian port upwards of 4 days in the coming week”.

The world’s largest liner shipping carrier said 19 of its services, mostly on Asia-Europe and transpacific trades, have been so far impacted by the Yantian crisis.

Get the full picture here.

Sustainability Hub

Finally, Lloyd’s List recently launched its brand new Sustainability Hub providing daily news, analysis and commentary on decarbonisation and the biggest challenges facing shipping in the years ahead.

The hub contains not only our expert insight but also the Lloyd’s List interactive Regulation Timeline so you can keep track of the key dates and milestones between now and 2050, including links to related content, supporting information and official documents.

To access the hub follow the Sectors > Sustainability path in the top menu or follow this link.