More than 400,000 seafarers remain trapped at sea on more than 60,000 cargo ships, as calls to end the ongoing crew change crisis remain unanswered by national governments. Another 400,000 are unable to join ships, according to the International Chamber of Shipping. The COVID-19 pandemic restriction
Tanker owner and operator Scorpio Tankers has finalized commitments from three financial institutions and has received a new commitment for a scrubber financing facility. The financing facilities are expected to increase the company’s liquidity by approximately $82 million. Specifically, Scorpio has
Trafigura, one of the world’s largest ship charterers, has proposed that the International Maritime Organization (IMO) introduces a carbon levy to help boost competitiveness and uptake of alternative fuels. The company is proposing a levy between $250 and $300 per metric tonne of CO2 equivalent on s
French ballast water treatment systems producer BIO UV Group has extended its collaboration agreement with French shipbuilder and repairer PIRIOU Group. The deal formalises a five-year relationship between the two companies, and aims to support the BWTS installation and integration projects carried
With the EU advancing on its plans to include international shipping in its Emissions Trading System (ETS), the pressure is on for the international maritime industry to introduce a market-wide measure to pay for its share of emissions. Under the plan, the EU wants to include the maritime sector int
The COVID-19 pandemic’s impact on the shipping industry goes beyond the crew change crisis as the industry adapts to a new reality by adopting a more flexible approach to meeting international rules. While the make-do strategy is understandable given the unprecedented nature of the pandemic, the Int
Using exhaust gas cleaning systems (scrubbers) or low-sulphur fuel oils to meet the IMO 2020 Sulphur Cap both result in an increase of well-to-wake CO2 emissions, according to a recent study carried out by research and consultancy firm CE Delft. A scrubber requires energy which is generated by engin
The European Parliament voted on Tuesday to include greenhouse gas emissions from the maritime sector into the EU’s emissions trading scheme from January 1, 2022. MEPs backed a -40% greenhouse gas efficiency target for shipping companies, to be reached gradually by 2030, as part of the revision of t
The Norwegian Petroleum Directorate (NPD) has issued a drilling permit to Neptune Energy for well 6406/12-G-1 H located in the Norwegian Sea.
The World Shipping Council has raised serious concerns for maritime trade and global efforts to reduce greenhouse gas emissions if the EU expands its Emissions Trading System (ETS) to include international shipping. In July, the European Parliament’s environment committee voted to include CO2 emissi
MAN Energy Solutions has through its Chinese license, CMP, won a series of orders for small-bore, four-stroke engines compliant with the new emission protocols of the Chinese government related to the inland-and-coastal segment. The orders are for MAN 21/31, 27/38 and 23/30H types, which stem in gre
The maritime industry’s mission to clamp down on emissions hasn’t been derailed by the COVID-19 pandemic as many feared could be the case. Obviously, the pandemic has had a major impact on the short-term activities as numerous meetings at the International Maritime Organization (IMO) had to be postp
The Board of Directors of FSL Trust Management Pte, as trustee-manager Singapore-based First Ship Lease Trust, said it has successfully settled a legal dispute with Danish shipping company TORM.
Offshore drilling contractor Borr Drilling has received its second continued listing standard warning from the New York Stock Exchange (NYSE) in a span of three months.
