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Rules & Regulation

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ICS proposes sustainability fund to IMO that would reward ships using alternative fuels
Rules & Regulation

ICS proposes sustainability fund to IMO that would reward ships using alternative fuels

The International Chamber of Shipping (ICS) has submitted a refined proposal to shipping’s UN regulator seeking the establishment of a fund and reward system to accelerate the sector’s uptake of alternative fuels and its transition to a net zero future. The refined proposal combines elements from it

about 4 years ago
Port of Los Angeles
Rules & Regulation

Green corridors: can they catalyze the transition to zero-emission shipping?

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Green corridors are coming forth as the central link that is expected to facilitate the shipping industry’s transition to alternative fuels and full-scale decarbonization. Several green corridors are already in the making linking ports within Europe or those connecting Europe with Asia and America.

about 4 years ago
Stena Forth drillship
Rules & Regulation

Chevron and partners prepare investment for Aphrodite gas field as Cyprus and Israel push for swift resolution of reservoir dispute

Oil major Chevron and its partners in the Aphrodite gas field off Cyprus have allocated funds for the drilling of an appraisal well and other development costs for the project.

about 4 years ago
Navios
Rules & Regulation

BIMCO: Boxship demand to rise by 10 pct due to EEXI and lower sailing speeds

The demand for containerships is expected to increase by 10 percent as of 2023 as shipowners move forward with the implementation of the IMO 2023 regulations, BIMCO estimates. Meeting Energy Efficiency Existing Ship Index (EEXI) and achieving a good Carbon Intensity Indicator (CII) rating is a hot t

about 4 years ago
World Shipping Council lays out suggestions to strengthen IMO GHG strategy
Rules & Regulation

World Shipping Council lays out suggestions to strengthen IMO GHG strategy

The World Shipping Council (WSC) has highlighted three key suggestions to support progress and ensure that the IMO regulations are effective in driving the transition to alternative fuels and propulsion technologies in the global shipping industry. “This is the time for open-minded discussions and a

about 4 years ago
Carbon capture, utilisation and storage capacity to increase ‘seven-fold’ by 2050 to reach net-zero, says WoodMac
Rules & Regulation

WoodMac: For net-zero by 2050, carbon capture, utilisation and storage needs ‘seven-fold’ boost

As global CCUS capacity is nearing 1 billion tonnes per annum, Wood Mackenzie believes that more is needed to meet net-zero goals by 2050.

about 4 years ago
Oil & gas maintenance managers facing equipment and procedure challenges
Rules & Regulation

Oil & gas maintenance managers facing equipment and procedure challenges

In a recent study, the oil & gas maintenance managers have voiced concerns over growth in procedures and the lack of equipment reliability.

about 4 years ago
SEA/LNG builds case for retrofitting VLCCs to LNG
Rules & Regulation

SEA/LNG builds case for retrofitting VLCCs to LNG

Retrofitting existing very large crude carriers (VLCC) to run on LNG as fuel has enormous benefits over alternative options to future-proof the ships from becoming obsolete as new environmental regulations take the stage in 2023, a new study from SEA/LNG claims. The multi-sector industry coalition c

about 4 years ago
Lamprell
Rules & Regulation

Lamprell board keen to endorse firm takeover offer

Lamprell has now received a combined takeover offer, adding another one of its shareholders into the mix.

about 4 years ago
Masirah Oil
Rules & Regulation

Following production shutdown off Oman, restart anticipated in two weeks

Masirah Oil is putting the wheels into motion to resume production at a field offshore Oman after it was stopped due to oil leakage.

about 4 years ago
Five Noble rigs to join Shelf Drilling’s fleet for $375 million
Rules & Regulation

Five Noble rigs to join Shelf Drilling’s fleet for $375 million

Shelf Drilling has inked a deal with Noble to buy five jack-up rigs, which are being sold to address concerns about the Noble-Maersk merger.

about 4 years ago
Rystad: Russian crude oil diverted from Europe to India & China as war rebalances trade flows
Rules & Regulation

Rystad: Russian crude oil diverted from Europe to India & China as war rebalances trade flows

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia, Rystad says.

about 4 years ago
Ursula von der Leyen - EU edges closer to banning Russia oil imports
Rules & Regulation

EU bans Russian vessels from ports, ‘edges closer’ to banning Russian oil imports

The European Union members have announced a new, fifth round of sanctions against Russia and its businesses due to the war in Ukraine.

about 4 years ago
World Bank: How can carbon revenues support the green transition of shipping?
Rules & Regulation

World Bank: How can carbon revenues support the green transition of shipping?

The money raised through carbon pricing could be allocated towards many purposes. The decarbonization of the shipping industry itself is priority number one, according to a new report released by the World Bank.

about 4 years ago