World leaders attending COP26 climate talks from the end of the month must ratchet up pressure to make shipping decarbonize by 2050, a senior industry official involved in the meeting said.Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions.U.N.
Supply chain issues tied to liner shipping have been front page news throughout 2021; just about everyone agrees that there’s a problem. The underlying cause is right out of Economics 101: a surge in demand for moving containerized cargo, in the face of “inelastic” throughput capacity (which includes vessels and their landside interfaces to surface transportation
All signals from Washington, D.C., indicate that Fiscal Year (FY) 2022 could be a record-breaking year for inland port and waterway investment. The successful opening of the Harbor Maintenance Trust Fund, a recording-breaking United States Army Corps of Engineers (USACE) budget request, positive improvements to the Port Infrastructure Development Program
Jennifer Carpenter joined The American Waterways Operators (AWO), the national trade association representing the inland and coastal tugboat, towboat and barge industry, in August 1990 and became its president and CEO in January 2020. She weighs in on the unprecedented challenges encountered over the past year and addresses top priorities along the uncertain path ahead.
British company Windship Technology has unveiled a whole-ship solution to tackle CO2 emissions from ships, launching its emissions-free bulk carrier and tanker designs alongside an investment partnership with classification society DNV.Starting from a clean drawing board, Technical Director Simon Rogers and his design team developed and tested at the Wolfson Unit in Southampton the company’s
France has offered Italian shipbuilder Fincantieri's a one-month extension to its planned acquisition of French rival Chantiers de l'Atlantique, the finance ministry said in a statement sent to Reuters on Wednesday.State-controlled Fincantieri has accepted the proposal, a spokesman said.
Italian shipbuilder Fincantieri's planned acquisition of state-controlled French rival Chantiers de l'Atlantique to create a European "Airbus of the Seas" is facing collapse barring last-minute political intervention from Paris or Rome.With the offer due to expire in two days after repeated deadline extensions over competition concerns
Italy’s plan to create a European shipbuilding champion through Fincantieri’s bid for France’s Chantiers de l’Atlantique will be decided by the end of December, its chairman said on Monday, amid signs the deal is in trouble.Italy hopes the tie-up will help state-controlled Fincantieri, Europe’s biggest shipyard, better compete with rivals from Asia and elsewhere.
In an attempt to bring more international shipping firms onshore to the UK, the British chancellor of the Exchequer Rishi Sunak provided the biggest shake-up to the UK’s domestic tonnage tax since its introduction 20 years ago.The British government explained that In order for global shipping companies to benefit from paying less tax
The European Football Championship is on the verge –and kicking off on Friday June 11. Therefore, BIMCO’s shipping number of the week had to be football-infused today. Adding extra topping to this sporting feast is the fact that the 2021 Copa America starts at the same time.If the result was decided by COVID-19
Turkey has approved development plans for a huge canal on the edge of Istanbul, Environment Minister Murat Kurum said on Saturday, advancing a project which has attracted criticism over its cost and environmental impact.The step came a year after Turkey held its first tender for the reconstruction of two historic bridges in its largest city where the 45km (28 miles) Kanal Istanbul
Chemicals group Yara aims to cut all CO2 emissions from its Porsgrunn ammonia plant in Norway to enable it to produce carbon-free fertilizers and shipping fuel, it said on Monday.Switching the plant’s production process to electricity from fossil fuel by 2026, however, will require co-funding from the Norwegian government, Yara said without elaborating on the cost.