United Nations Environment Programme Finance Initiative (UNEP FI) has released a new guidance on blue finance to help banks, insurers and investors take action on the transition of ocean sectors to a sustainable future.
State-owned oil companies could waste around $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, NRGI said in its latest research.
Eco Wave Power has secured the engineering coordination permit for the installation of ten floaters for the ‘EWP-EDF One’ wave energy project in the Port of Jaffa in Israel.
The United States has initiated a process to seize alleged Iranian oil aboard a Liberian-flagged, Greek-owned tanker.
Ocean Energy Systems (OES), a program within the International Energy Agency (IEA), has published a new guidance paper to respond to the need to have a completely objective evaluation of how ocean energy technology performs against key criteria.
Over 300 maritime industry and human rights leaders have signed a new global pledge urging for industry accountability and finally ending the deepening crew change crisis. The signatories of the Neptune Declaration on Seafarer Wellbeing and Crew Change vowed to deliver on a shared responsibility to
A former executive at Petrofac has pleaded guilty to bribery offences related to contract awards to Petrofac in UAE worth about $3.3 billion.
Iran has seized a South Korean chemical tanker Hankuk Chemi citing oil pollution in the Persian Gulf. The tanker was reportedly underway to Fujairah, in the UAE, from the Saudi city of Al-Jubail on Monday when it got detained. The Iranian Foreign Ministry said the reason behind the detainment was st
The recently approved amendments to MARPOL Annex VI to introduce requirements to the operational efficiency of ships, the Carbon Intensity Indicators, promise to introduce a completely new compliance regime in the sector. The introduction of carbon intensity targets to existing ships will be calcula
The International Labour Organisation’s (ILO) Committee of Experts issued a ruling that governments have failed in their duty of care towards seafarers under international law during the COVID-19 pandemic. In the first ruling of its kind, the committee of 20 jurists found that governments failed abj
Forty-five IMO Member States and one Associate Member, Hong Kong, have now designated seafarers as key workers, a key step in resolving the ongoing crew change crisis. Key worker designation is essential to exempt these professionals from specific COVID-related travel restrictions, allowing them to
Member unions of the International Transport Workers’ Federation (ITF) have helped recover more than $1.7 million in wages owed to seafarers amid a concerning rise in abandonment cases by shipowners. The national union affiliates have assisted more than 135 seafarers across 12 ships in the Arab Worl
The United Nations has adopted a resolution that calls on its members to designate seafarers and other marine personnel as key workers and implement relevant measures to allow stranded seafarers to be repatriated and others to join ships. The UN pointed to the need for an urgent and concrete respons
On 26 October, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on the National Iranian Tanker Company (NITC), the National Iranian Oil Company (NIOC), and the Iranian Ministry of Petroleum, representing America’s latest attempt to increase economic
