South Korea’s flagship carrier HMM announced that it has cut its carbon emissions by half over the past decade. Namely, the shipping major’s data shows that the CO2 emissions generated when transporting 1 TEU of container for 1 km decreased from 68.7g in 2010 to 29.05g in 2021, representing a reduct
Japanese chemical company Asahi Kasei, a part of the Asahi Kasei Group, has established a ‘Care for Earth’ investment framework as a new initiative for carbon neutrality by investing $100 million worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, ene
Yantai CIMC Raffles Offshore (CIMC Raffles) has launched China’s first semi-submersible offshore floating solar power generation platform.
Teekay Tankers, one of the world’s leading providers of international seaborne transportation of oil, said it would implement engine power limitation (EPL) on its vessels to meet the Efficiency Existing Ship Index (EEXI) requirements. Namely, the EEXI will require a 20% improvement in vessel design
Japan’s Itochu Corporation has decided to make an equity investment in Purus Marine, a recently formed, environmentally focused maritime vessel and infrastructure company. UK-based Purus Marine owns and manages various environmentally advanced vessels. Its business purpose is to provide vessels that
The American Petroleum Institute calls on the Biden administration to address the broken permitting process halting U.S. energy development.
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
Scottish company Nova Innovation has expanded its tidal energy product portfolio with the addition of floating solar technology, announcing also plans for the installation of Scotland’s first array of floating solar panels later in 2023.
The Danish Energy Agency has received two final offers related to Denmark’s first tender for the carbon capture, utilization and storage (CCUS) subsidy pool, with a contract expected in May. The Danish Energy Agency announced in August 2022 that three applicants – I/S Vestforbrænding, Ørsted Bioener
The Sustainable Hydrogen Powered Shipping Project (sHYpS), which is centred around the idea of developing a liquid hydrogen (LH2) swappable storage solution for multiple types of vessels, is gaining ground. Launched in the summer of 2022, the sHYpS project gathers 13 partners in six countries with a
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
French floating solar start-up HelioRec has closed the first tranche of its seed round, securing new investments from First Imagine! and Techstars.
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
Dutch tank storage company Vopak has provided updates on its LNG projects, including EemsEnergyTerminal, Gate terminal Rotterdam, and Hong Kong LNG terminal project. EemsEnergyTerminal Vopak’s first update is in regard to EemsEnergyTerminal, an LNG import terminal located in the Eemshaven in the Net
