The offshore energy and shipping industries are essential components of global trade and commerce, responsible for transporting goods and powering homes and businesses around the world. However, they are also significant contributors to greenhouse gas emissions. As the world’s focus on reducing carb
Elegant Exit Company (EEC), a sustainable ship recycling startup, is on a mission to change the ship recycling industry by converting old ships into green steel. The Drachten-based company was launched in 2020 with plans to own a fleet of end-of-life ships that will be operated until their planned r
In 2021, LNG was the most popular alternative fuel considered by shipowners for use in the (then) next five years; twice as many as those who said they were considering biofuels. That position has now virtually reversed, with biofuels at the same level of response as LNG in 2021 while LNG has fallen
The maritime industry has a better idea of the trade-offs necessary to achieve net zero, although most of the practical work still lies ahead, and regulatory and technology uncertainties remain, a recent survey conducted by the London-based law firm Watson Farley & Williams (WFW) shows. ‘The Sustain
Greek shipowner and operator Euroseas has taken delivery of its M/V Gregos, an eco 2,800 TEU feeder containership newbuilding from Hyundai Mipo Dockyard Co. in South Korea. The vessel is EEDI Phase 3 compliant and equipped with a Tier III engine and other sustainability-linked features including alt
A very large crude carrier the Nautica, bought last month by the UN Development Programme (UNDP) from Euronav, as part of UNDP’s coordinated operation to remove oil from decaying FSO Safer, has set sail from Zhoushan, China heading for the Red Sea. The Nautica was in drydock in Zhoushan, China for r
A new report by University Maritime Advisory Services (UMAS), an independent advisory and research consultancy specializing in maritime and ocean-related sustainability issues, sheds light on the pressing need for a significant improvement in energy efficiency in the global shipping industry by 2030
The most effective way of complying with the CII index and having a good rating is to utilize the emerging alternative, low and zero-carbon fuels, John Kokarakis, Vice President of Technology & Business Development Hellenic-BS-ME Zone at Bureau Veritas, said. Kokarakis was speaking at the 6th Annual
UAE-based port operator AD Ports Group has signed a General Corporate Facility agreement with a syndicate of 13 regional and international banks worth approximately $2 billion. The multi-currency facility is divided into three tranches, amounting to €600 million, $620 million, and AED 2,863 million,
The International Maritime Organization’s (IMO) Legal Committee has highlighted the risks and consequences of ship-to-ship transfers in the open ocean and the methods used to obscure ship identities. At its 110th session in London, the committee was informed that a fleet of between 300 to 600 tanker
This is a free premium article to give you a sample of what Offshore Energy has to offer as part of our premium section. Upgrade for premium access here. The decarbonization conundrum in the shipping industry persists due to a multitude of challenges, including the high cost of alternative fuels, th
Taiwanese container shipping giant Yang Ming has been described as the container industry’s ‘emission hero’ for all relevant CEI-covered trades in Q4 2022, according to an analysis of Xeneta’s Carbon Emissions Index (CEI). Xeneta said that Yang Ming was the industry’s only major player to score belo
The Saudi Ports Authority (Mawani) has announced cutbacks in crane activity and truck turnaround times at Jeddah Islamic Port to accelerate its decarbonisation drive.
Seven member states of the International Maritime Organization (IMO) have nominated candidates for the post of Secretary-General, as the term of the current incumbent, Kitack Lim of the Republic of Korea, is set to expire on December 31, 2023. The seven nominees are Moin Uddin Ahmed of Bangladesh, S
