The discovery and extraction of vast liquefied natural gas (LNG) reserves on the Yamal peninsula in Siberia, Russia in the past decade has renewed interest in bulk transport through the Arctic Ocean and sub-Arctic waters which are now warming and ice-free due to climate change. The development of ice-strengthened tankers able to cleave their way through floes up to two metres thick now make it possible to ship gas and other materials year-round.

This viability of northern passages formerly untenable is exacerbating reliance on fossil fuel trade and spurring negligence around action on Climate Change, particularly by Russia, which is poised to gain more than many other nations from a warmer climate at northern latitudes. 

 

 

For the full article, please visit the link below:

https://www.economist.com/finance-and-economics/2021/03/11/warmer-arctic-waters-could-turn-the-tides-in-lng-markets 

Posted on - 2021-03-24

Sustainability is about more than carbon reduction, but we are currently evaluating the shift to new fuels on the basis of price, availability and technical feasibility. The ability to provide transportation infrastructure and services that are safe, socially inclusive, accessible, reliable, affordable, fuel-efficient, environmentally friendly, low-carbon and resilient to shocks and disruptions including those caused by climate change and natural disasters — that’s a much bigger conversation. Are we as an industry genuinely looking for real reductions in greenhouse gas emissions or is this simply a question of tick box accounting? This week’s podcast looks for a more holistic discussion on shipping’s sustainability challenge with an international panel of experts from Lloyd’s Register, China Navigation and WWF.

Speaking on this week’s edition are:

•            Katharine Palmer, Global Sustainability Manager at Lloyd’s Register

•            Mark Lutes, Senior Advisor on Global Climate Policy at WWF’s Climate and Energy Practice

•            Simon Bennett, General Manager for Sustainable Development at The China Navigation Company

 

 

We are proud to see our colleagues from Swire and Lloyd's included in this featured interview, and the role of WWF in the environmental discussion is much appreciated.

 

For the full podcast, please visit the link below:

https://lloydslist.maritimeintelligence.informa.com/LL1136192/The-Lloyds-List-Podcast-Why-sustainable-shipping-is-about-more-than-just-carbon-reduction 

Posted on - 2021-03-22

Ocean carriers are becoming increasingly confident that freight rates will remain high for years, chartering ships for at elevated daily hire rates not seen for 16 years.

Maersk has just fixed a trio of 4,600 TEU vessels for periods of over two years $35,000 per day, joining its 2M partner and rival MSC in a “fixing spree”, agreeing to charter the 4,253 TEU Xiamen and 4,252 TEU Nagoya Tower – from UK-based Zodiac Maritime for periods of 30 months at $32,000 per day.

The Xiamen was previously achieving just $9,100 a day on charter to another carrier, while Maersk previously had the Nagoya Tower on hire last July for two months at $8,950 per day.

 

For additional details, please visit the link below:

https://gcaptain.com/containership-charter-market-has-gone-bananas/ 

Posted on - 2021-03-21