At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N.
The final quarter of 2019 marked a massive decline of high-sulphur fuel oil (HSFO) sales, as the industry transitioned into compliance of the International Maritime Organization's (IMO) 2020 Sulphur Cap (IMO 2020). In Singapore, the world’s largest bunkering hub, the bunker sale landscape saw significant change as the sale of high-sulphur fuel oil dropped tremendously in a matter of months.
According to the latest monthly climate report from the U.S. National Oceanic and Atmospheric Administration (NOAA), July 2019 was hottest month on record for the planet and Polar sea ice melted to record lows.Much of the planet sweltered in unprecedented heat in July, as temperatures soared to new heights in the hottest month ever recorded.
In a collective call to action for the decarbonization of shipping last year, 34 signatory CEOs from the industry made clear that efforts to significantly lower the carbon footprint of shipping presented “biggest technology challenge in the past 100 years”.This statement was not an exaggeration.
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30
Part I: Enhancing Engines & Fuels"Wood Mackenzie forecasts a 25 percent increase in price for lower sulfur content fuel based on a SOx scrubber adoption rate of about two percent, but some scenarios could cause LSFO prices to spike by as much as 60 percent."Around 80 percent of global trade is carried by sea.
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
China Petroleum & Chemical Corporation (Sinopec ), China's first large-scale production of greener low-sulfur marine fuel oil (LSFO), announced the production capability of 10 million and 15 million tons of low-sulfur marine fuel oil in 2020 and 2023.The Beijing-based Chinese oil and gas enterprise said in a press release that by January 1, 2020
Kawasaki Heavy Industries delivered the Maple Gas, a 82,200 m3 capacity liquefied petroleum gas (LPG) carrier, for Astomos Energy.The shipbuilder said that this is the 57th LPG carrier and the eighth LPG vessel of the same type to be built by the company.Maple Gas (length: 229.9 m, gross tonnage: 46,851) adopts Kawasaki's uniquely developed bow shape called SEA-Arrow
The engines of a luxury cruise ship that narrowly escaped disaster during a storm off Norway on Saturday failed because of relatively low levels of lubricating oil in the engines, the Norwegian Maritime Authority said on Wednesday.The Viking Sky, with almost 1,400 passengers and crew aboard
Twin City Liner is a 39m low wash, high-speed catamaran ferry for operation by Twin City Liner on the Danube River between Vienna and Bratislava. The vessel was built by Wight Shipyard, with local support from Incat Crowther Europe.Operating on the Danube takes many interesting design specifications, and to this end the ferry features a low draft of 0.
It was 6pm when an unusual rainbow-colored boat, made of recycled plastic waste and discarded flip-flops gathered from beaches and roadsides, dropped anchor off the beach at Mtwapa, near Kenya's coastal city of Mombasa.The 9-meter-long dhow, "The Flipflopi", was sailing south along East Africa's coast to raise awareness of the threat plastics pose to the oceans