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Outlook & Strategy

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Maersk feeder bunkering with Agility tanker; Image credit Maritime & Port Authority of Singapore
Outlook & Strategy

Mittal: Shipowners need to start locking in long-term supply of green fuels

In order to catch up with the ambitions of decarbonization targets for the maritime industry, shipowners are being encouraged to start proactively securing long-term contracts for green fuels from serious players as the availability of these fuels is likely to be restricted amid demand from other se

about 3 years ago
Michael Parker
Outlook & Strategy

Parker: Shipping financing will not be the same

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Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2

about 3 years ago
Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report
Outlook & Strategy

Urgent action needed to reach 5% zero-emission fuel target by 2030, says new report

In the race to achieve the 5% target for scalable zero-emission fuel (SZEF) goal by 2030, the global shipping industry has made significant progress over the past year, as revealed in a recent report from UMAS, Getting to Zero Coalition, and Race to Zero. The developments are promising, but as the 2

about 3 years ago
ADNOC Gas and JERA Global Markets ink $500-700 million LNG supply deal
Outlook & Strategy

ADNOC Gas and JERA Global Markets ink $500-700 million LNG supply deal

UAE’s integrated gas processing company ADNOC Gas has announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED 1.8 billion) and $700 million (AED 2.5 billion), with JERA Global Markets, a trading subsidiary of Japan’s energy major JERA. ADNOC Gas said the

about 3 years ago
ClassNK
Outlook & Strategy

ClassNK: 80 million gt of zero-emission ships needed annually by 2040 to meet IMO targets

The maritime industry must build 80 million gross tonnage (gt) of zero-emission ships each year over the 14-year period from 2027 to 2040 to achieve the indicative checkpoints for 2030 and 2040 developed by the International Maritime Organization (IMO) in its 2023 Greenhouse Gas (GHG) Strategy, acco

about 3 years ago
Cyber attack
Outlook & Strategy

Maritime industry remains ‘easy target’ for cyber attacks as ransom payment demands skyrocket

The maritime industry remains an “easy target” for cybercriminals, and the cost of attacks and demand for ransom payments across the sector have skyrocketed over the past 12 months, according to the research findings from law firm HFW and maritime cyber security company CyberOwl. The research reveal

about 3 years ago
Prysmian produces cables for 3 GW submarine link between Middle East and North Africa
Outlook & Strategy

Prysmian produces cables for 3 GW link between Middle East and North Africa

Italian cabling giant Prysmian has completed the manufacturing of cables for the submarine power interconnection between Egypt and Saudi Arabia – the first-ever large-scale link between the Middle East and North Africa. Prysmian secured the contract worth about €221 million with the Egyptian Electri

about 3 years ago
Illustration; Source: QatarEnergy
Outlook & Strategy

In focus: The hard truths and wake-up calls in the global energy transition

As the world races towards a net-zero emissions future by 2050, it’s imperative to acknowledge some hard truths and heed the wake-up calls emerging from the latest reports and analyses. The energy transition journey is undoubtedly complex, laden with challenges and unearthing difficult realities as

about 3 years ago
DP World
Outlook & Strategy

DP World raises $1.5 billion for decarbonization

Dubai-based port operator DP World has raised USD 1.5 billion through a Green Sukuk to support its global decarbonization efforts. Sukuk are Islamic financial instruments representing ownership and profit-sharing in asset-backed, Sharia-compliant investments. DP World said that the Sukuk was oversub

about 3 years ago
DNV: Despite falling short of Paris Agreement requirements, hydrogen technology set to bring significant changes to energy transition by 2050
Outlook & Strategy

DNV: Despite falling short of Paris Agreement requirements, hydrogen technology set to bring significant changes to energy transition by 2050

Renewable and low-carbon hydrogen is expected to play an important role in decarbonizing and reducing emissions from hard-to-electrify sectors and reaching the Paris Agreement climate goals. While these targets require hydrogen to account for approximately 15% of the world’s energy demand by 2050, D

about 3 years ago
Illustration; Source: DNV
Outlook & Strategy

Net-zero by 2050 ambition at risk: In with renewables and out with fossil fuels ‘far from fast enough,’ warns DNV

DNV: The pace of the transition from fossil fuels to renewables is not being imbued with enough speed to reach net-zero by 2050 targets.

about 3 years ago
Repair yard shortage puts maritime energy transition at risk
Outlook & Strategy

Repair yard shortage puts maritime energy transition at risk

A shortage of repair yards with experience in conversions may hinder the take up of alternative fuel technology by the existing fleet, according to the findings from LR’s new Engine Retrofit Report. The report has identified that retrofitting a significant number of the 9,000 and 12,900 large mercha

about 3 years ago
container shipping
Outlook & Strategy

ICS rolls out CII data collection system

The International Chamber of Shipping (ICS) has launched a Carbon Intensity Indicator (CII) Data Collection System. CII is a rating system developed by the International Maritime Organization (IMO) to measure the energy efficiency of ships, above 5,000 gross tonnage and trading internationally. It c

about 3 years ago
India and Saudi Arabia ally on clean hydrogen
Outlook & Strategy

India and Saudi Arabia ally on clean hydrogen

On the sidelines of the MENA Climate Week in Riyadh, India and Saudi Arabia have signed a memorandum of understanding (MoU) in the fields of electrical interconnections, green/clean hydrogen and supply chains. Specifically, the MoU aims to establish a general framework for cooperation between the tw

about 3 years ago