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The International Maritime Organization has committed to slashing total annual greenhouse gas emissions by at least 50% by 2050, compared with 2008, and it aims to decarbonise the sector fully by the end of the century. The shipping industry is facing up to the challenge, developing new fuels and stronger, environmentally-friendly practices. But with tighter rules and regulations on both a regional and global level to contend with, agreement on the best approach is not easy

Future Fuels

Tighter emission requirements drive up demand for fuel-saving equipment

Inquiries about the company’s PBCFs are on the rise. Orders are expected to jump substantially in the next two years

Asia Pacific Japan

Can nuclear option solve shipping’s emissions problem?

The company is part of a consortium, including Bill Gates-backed TerraPower, that is bringing to market a small, modular, scalable nuclear power unit that is 95 times more efficient than conventional light water nuclear reactors, leaves minimal waste, has a lifetime fuel cycle of up to 30 years and running costs lower than marine gas oil and liquefied natural gas

International Dry Bulk

Paratus adds parametric freight insurance to fuel hedge line

Company believes buyers of 97% of the 4m barrels of bunkers consumed each day are not currently hedged

Insurance International

Solid oxide fuel cell project launched

A group of maritime companies and the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping have partnered to develop solid oxide fuel cells as a zero-carbon shipping fuel

Europe Denmark

Dingheng Shipping orders six chemical tankers

The newbuilds are to be equipped with dual-fuel propulsion systems that can be powered by electricity. They are said to be able to reduce fuel consumption and crew numbers by 15% and 35% respectively, compared with conventional tonnage of the same size

Asia Pacific Tankers and Gas

Yangzijiang Shipbuilding in joint venture to develop LNG terminal

Yangzijiang signed an agreement with Jiangyin city for an industry park, including an LNG terminal with a 6m tonnes annual handling capacity and 500,000 cu m in storage capacity

Asia Pacific Tankers and Gas

Odfjell targets green investors with shipping’s first sustainability-linked bond

The Norwegian firm says the pioneering bond was oversubscribed. It will help halve its fleet’s emissions by 2030 and matures in five years 

Environment Fuels

Shell-linked LNG bunker barge ready for US operations

The new ships will help in the development of a liquefied natural gas bunkering network in the southeastern US, in particular around the US Gulf and South Atlantic coasts — regions in which demand for liquefied natural gas is growing — along with the Caribbean itself

US States Tankers and Gas

DNV GL rebrands after strategy review

DNV believes the coming decade will be transformational for the shipping industry, especially in its focus on sustainability goals. The rebranding is in line with new goals

International Classification

MSC joins Hydrogen Council as steering member

Among other big names linked to the Hydrogen Council are the Port of Rotterdam and industrial players such as SABIC, Anglo American and Uniper, as well as most of the major oil companies

International Containers

LNG demand set for growth as global gas production drops 3.6%

Global natural gas production is expected to grow by 24% to 4.9trn cu m in 2040, Rystad says, with most additions coming from North America, which will see production rise by 410bn cu m versus 2020 production

International Tankers and Gas

Lloyd's Register assembles decarbonisation advisory panel

Lloyd’s Register taps Maersk, Carnival and Orsted representatives as well as government and NGO experts as first members of its new decarbonisation hub’s advisory panel

International Lloyds Register

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