Decarbonisation
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
Gas shortages raise oil demand as floating storage falls
Oil demand is forecast to rise by half a million barrels per day as the global gas shortage drives a shift to using oil for power generation, the International Energy Agency says. Production is set to rise 2.7m barrels per day from September to the end of the year
Ammonia is most realistic deepsea fuel, says Höegh chief
Looking ahead, methanol and biofuel will be more expensive and shipping will be competing directly with the aviation sector’s bigger pockets. This makes ammonia is the most realistic deepsea fuel choice that the industry can take today if it wants to future-proof orders, argues Höegh Autoliners
Delays expected to EU’s 2023 emissions trading deadline for shipping
Shipping should be included in the EU ETS by January 1, 2023, but that start date is now seen as unlikely given that draft legislation faces amendments. This leaves owners in limbo
Fortescue Metals to fuel ore carriers with ammonia
World’s fourth-largest iron ore producer aims to cut 50% of the emission intensity levels from its ore shipping operations by 2030 versus the financial year 2021
Call for shipping to adopt 2050 net-zero emissions target
The International Chamber of Shipping has called for shipping’s global regulator to commit the industry to net-zero emissions by 2050 as pressure grows for shipping to catch up with other industries. Adopting the target would require the votes of the IMO’s 174 member states
IEA calls for more hydrogen investment
Governments must lower barriers to hydrogen’s growth as a fuel if the world is to meet its 2050 emissions pledges, and more policies must focus on spurring demand, not just supply, according to the IEA
Daily Briefing October 4 2021
Venezuela expands deceptive shipping practices to bolster Asia crude exports | The BDI: Back to 2008, but in a good way | Do the economics of carrying boxes on bulkers stack up?
BHP positive about LNG and biodiesel
Rashpal Bhatti said he is sanguine about biodiesel as it can be used with engines already and along with very low sulphur fuel oil and other fuels deliver a hybrid outcome
IACS seeks to re-establish a class act
The new chairman of the International Association of Classification Societies has a mandate to reinvigorate and unify a class voice as the industry’s trusted technical advisory body at the centre of the decarbonisation and digitalisation agendas
Dual-fuel vessel trial using SNG starts in Germany
German engine maker MAN Energy Solutions has bunkered a containership with 20 tonnes of synthetic liquefied natural gas made using renewable power sources, the first time SNG has been used in commercial shipping
NYK aims for net-zero emissions by 2050
The company plans to publish an emissions reduction ‘road map’ before the announcement of a new medium-term management plan
Daily Briefing September 29 2021
Energy transition curbs medium-term oil demand | Newbuildings cancelled over LNG uncertainty says OPEC | Shipping feels impact of China’s power crunch
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