Shipping companies are looking to develop bigger CO2 carriers with demand for carbon capture expected to grow

Landmark deal to open up opportunities as ‘people know it’s possible,’ say lawyers linked to deal

‘The international shipping markets were in a strong uptrend in 2021, leading to a better-than-expected recovery in newbuilding markets,’ says shipbuilding association

Vessels will be added to a line-up of 15 dual-fuel newbuildings of the same size that Zim has locked in from the long-term contracts signed with Seaspan last year

Deal is part of the Japan-based shipowner’s efforts to reduce greenhouse gas emissions to hit its 2050 decarbonisation target

KSOE and its smaller domestic rival Daewoo Shipbuilding & Marine Engineering continue to beef up their orderbook backlogs despite the recent setback in merger efforts

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