The global shipping industry is on course to see its greenhouse gas emissions rise by around a fifth by 2050 if action including introducing a carbon levy on fuel is not taken, new research backed by industry leaders shows.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing scrutiny to become cleaner.
Amazon.com Inc and IKEA are among commercial users of container shipping that will opt for zero-carbon marine fuels by 2040 in a new initiative aimed at speeding up decarbonization in the maritime sector, executives said on Tuesday.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing scrutiny to
The world's biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after reporting strong preliminary quarterly results as chaotic conditions in the global supply chain pushed freight rates higher.In the wake of the coronavirus pandemic
There could be a shortage of merchant sailors to crew commercial ships in five years if action is not taken to boost numbers, raising risks for global supply chains, a report said on Wednesday.The shipping industry is already struggling with crewing shortfalls due to the coronavirus pandemic, a situation that will exacerbate expected labour supply problems over the next few years
A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said.Durban, the busiest shipping terminal in sub-Saharan Africa, was also affected, three sources with direct knowledge of the matter told Reuters.Cape Town Harbour Carriers Association said in an email to members
President Joe Biden will soon order U.S. transportation agencies to crack down on anti-competitive conduct and unjust fees in the rail and sea shipping industries to try to lower costs to consumers, the White House said on Thursday.It said his executive order is aimed at the Federal Maritime Commission (FMC) and the Surface Transportation Board (STB).
The Biden administration granted oil refiner Citgo Petroleum a maritime shipping waiver allowing it to move fuel between U.S. ports on a foreign flagged vessel, two sources told Reuters on Friday, making it the second company to secure one this week.The waivers are intended to help ease distribution of fuel after a major pipeline serving the U.S.
The U.S. Transportation Department has completed its assessment of what ships are available to carry petroleum products from the Gulf to the Eastern Seaboard and is ready to review any Jones Act waiver requests, the White House said on Wednesday after a ransomware attack on Colonial Pipeline disrupted supplies.The Jones Act requires goods moved between U.S.
The Transportation Department said on Tuesday it was evaluating whether a temporary waiver of the Jones Act is needed to ensure sufficient gasoline supply to some U.S. states after the ransomware attack on Colonial Pipeline."The U.S. Department of Transportation (USDOT) has started the work needed to enable consideration of a temporary and targeted waiver of the Jones Act," the department said.
The Biden administration on Tuesday said it has approved the nation's first major offshore wind farm, billing it as the launch of a new domestic energy industry that will help eliminate emissions from the power sector.The move, however, was quickly condemned by fishing industry interests who said their concerns about the project's impact on things like fish stocks and vessel traffic had been
A 2019 fire on board a laid up towboat was likely caused by a catastrophic engine failure, the National Transportation Safety Board (NTSB) found.The Susan Lynn was docked and in layup at Tom’s Marine & Salvage yard on the Barataria Waterway in Lafitte, La., when the blaze broke out in the engine room on the morning of October 8, 2019, causing an estimated $1,350
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.