Shipping has moved further toward being covered by the EU’s carbon market (ETS) after the policymakers in the European Parliament’s environment committee (ENVI) voted to further bolster the emissions-reduction scheme. The ETS reform was put forward by the European Commission last July as part of a m
Global Ship Lease has forward fixed the 8,600 teu , built in 2004, to Mediterranean Shipping Company (MSC) for a period of 48 to 52 months at a rate that generates an average annualized EBITDA of 3.1 times that under its existing charter agreed in late 2020. The London-headquartered containership ow
Finnish oil refiner Neste has introduced a co-processed 0.1% sulphur marine fuel together with Danish bunkering specialist Nordic Marine Oil that is said to cut greenhouse gas (GHG) emissions by up to 80%. Neste said the biofuel fuel enables GHG reductions over its life cycle compared to fossil fuel
China’s National Bureau of Statistics (NBS) revealed alarming statistics for April yesterday, with analysts warning similar troubling figures can be expected for May with the country’s aim of an annual 5.5% GDP growth looking very unrealistic. The official data released will spook shipowners who rel
Seafarers’ groups have won the right to mandatory social connectivity for crews – including internet access – in updates to the Maritime Labour Convention 2006 (MLC), but are disappointed that shipowners and governments may seek to charge for it. The MLC is an international treaty designed to protec
The scale of shipping’s green transition has been put into sharp relief with new data from Germany’s University of Applied Sciences showing the global shipping industry will require the equivalent of the world’s entire current renewable energy demand in order to replace fossil fuel use. Fuelling the
Hudson Structured Capital Management (HSCM) has acquired the key business assets of Northern Shipping Funds, a leading provider of alternative capital to the shipping and offshore oil service industries. The combined platform will manage shipping and transport investments across the capital structur
Eastern Pacific Shipping (EPS) has signed a definitive agreement with Rotterdam-based Value Maritime to install carbon capture and filtering systems on MR tankers Pacific Cobalt and Pacific Gold, with an option to equip three more vessels. The installation of the first system is scheduled to be comp
France’s Louis Dreyfus Armateurs (LDA) has decided to equip one of its vessels with three suction sails created by Spain’s bound4blue. The installation of the so-called eSails will take place next year and comes after the two companies have held discussions for the past three years. For bound4blue t
Greek boxship owner Euroseas has exercised its option at South Korea’s Hyundai Mipo Dockyard for the construction of two additional 2,800 teu eco-design containerships. The two newbuildings, worth around $86m, should deliver during the fourth quarter of 2024. The order follows two sisterships Euros
