Australian Securities & Investments seeking declarations and pecuniary penalties related to involvement in US warship building programme

The project will be based on the so-called molten salt reactor technologies, which the company describes as ‘a carbon-free energy source that can efficiently respond to climate change issues’

Orders for four tankers are priced at about $36m for each vessel, and options for another two tankers would extend the series to six if exercised

Tokyo has set a target of a 46% reduction in greenhouse gas emissions by 2030. That will require development of new fuel-efficient technology

President Biden said that ‘additional steps’ were necessary to address the national emergency declared in his predecessor’s executive order in November 2020, including the threat posed by China’s ‘the military-industrial complex’

The 50,000 dwt scrubber-fitted vessels, which are scheduled to be delivered in the first half of 2022, are an addition to the three others already being built

Chinese yards are facing challenges from South Korean competitors, which have pledged to reach carbon neutrality by 2050. They are expected to be burdened with extra technical requirements and financial costs driven by China’s decarbonisation strategy 

Industry expert suggests China should first create a road map from the top that carefully assesses the feasibility of different fuel options and design a suitable pathway towards green shipping 

Shell is said to be considering the high pressure, ME-GI main engine, which can almost eliminate the methane slip from liquefied natural gas, for its dual-fuel VLCC newbuilding project in South Korea. But one big shortcoming of more advanced technology is: it’s expensive

It remains to be seen how China’s shipbuilders will collaborate with compatriot leasing lenders to consummate the deals

China has long sought to support the basic strategic goal of more Chinese cargo being carried by more Chinese ships, but never quite managed to pull it off. The shifting economic conditions, however, may well present the perfect opportunity to finally cement ‘guohuo guoyun’ as a reality and China’s shipyards will be reaping the rewards

The head of shipbuilding at Japan’s transport ministry outlines the country’s roadmap to zero-emission ships, and offers views on industry consolidation and state subsidies