The shipping industry waiting on the next stage of environmental regulations has forestalled broader ordering of new ships - particularly dry bulk carriers. 

Currently, owners can lower pollution through retrofits instead of opting for newbuilds – it is expected ship repair yards will be highly busy for the coming years.

The International Maritime Organisation’s Energy Efficiency Existing Ship Index (EEXI) works on a per ton per mile basis, but not on how much of the time the ships are laden. Instead of demanding mechanical, technical changes to the global merchant fleet, a $250 a tonne levy on fuel may result in ships slowing down and alternative fuels gaining immediate traction. Basel III, due to come into effect in 2023 – the same year as EEXI funnily enough – will have an enormous effect on the shipping industry, strengthening the regulation, supervision and risk management of banks.

 

 

For additional details, please visit the link below:

https://splash247.com/regulatory-purgatory-is-heaven-for-rates/ 

Posted on - 2021-05-06

Jimmy Nuake, deputy secretary at the Ministry of Infrastructure Development of the Solomon Islands, and longtime sustainable transport advocate, highlighted the global need to enable the shipping industry to go green by giving it a real incentive to transform. He noted that governments must give the industry the incentives to decarbonize, and this is why the Solomon Islands came together with the Marshall Islands to propose a carbon levy at the International Maritime Organization. This carbon levy proposal would make it logical for shipowners to invest in measures to green their ships – making it not only the right thing to do morally, but also financially. The proposed levy would start at $100 per ton of CO2, and would be periodically revised upwards, which would encourage technological innovation and enable the kind of risk-taking that can create the step-changes we need in this industry.

 

 

For the full article, please visit the link below:

https://splash247.com/islands-and-industry-say-its-time-for-a-carbon-tax-can-kerry-help-deliver-it/ 

Posted on - 2021-05-06

More than 31 ship owners bid on the Norwegian With Orca  - Powered by Nature project, expected to utilize two large rotor sails for operations in the North Sea, supporting a hydrogen-fueled internal combustion engine. The design team is led by Norwegian Ship Design, working on additional features, including a highly efficient hull and specially developed keel.

The vessel will carry aggregates from western to eastern Norway for HeidelbergCement Norway and on the return voyages will transport grain for Felleskjøpet AGRI. The two companies have a 15-year agreement for the operation of the vessel.

 

For additional details, please visit the link below:

https://www.maritime-executive.com/article/world-s-first-zero-emission-wind-and-hydrogen-power-cargo-ship?fbclid=IwAR1Dy07LAbL_XIReSmaAZ-vl9qV53_Xw3M7FQ7wrjlIyKSQ40x1-RGTLi28 

Posted on - 2021-05-06