HWCG, a consortium of deepwater operators in the Gulf of Mexico, and marine environmental consulting and survey company CSA Ocean Sciences have created a surface monitoring equipment program designed to assist offshore oil and gas operators with enhancing their environmental monitoring and preparedn
Industry giants Chevron, Euronav, and Cargill have announced their joint operational efficiency ambition statement as part of the Global Maritime Forum Annual Summit in Athens. Under the ambition, the trio committed to adopt vessel optimization strategies that can decrease annual fuel consumption by
In order to catch up with the ambitions of decarbonization targets for the maritime industry, shipowners are being encouraged to start proactively securing long-term contracts for green fuels from serious players as the availability of these fuels is likely to be restricted amid demand from other se
Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2
In the race to achieve the 5% target for scalable zero-emission fuel (SZEF) goal by 2030, the global shipping industry has made significant progress over the past year, as revealed in a recent report from UMAS, Getting to Zero Coalition, and Race to Zero. The developments are promising, but as the 2
The Maritime Union of Australia (MUA) is urging the Australian government for a major shakeup of government policy and regulation of the dismantling, processing, recycling and disposal of offshore oil and gas infrastructure. MUA, alongside Macquarie University’s Centre for Energy and Natural Resourc
The maritime industry must build 80 million gross tonnage (gt) of zero-emission ships each year over the 14-year period from 2027 to 2040 to achieve the indicative checkpoints for 2030 and 2040 developed by the International Maritime Organization (IMO) in its 2023 Greenhouse Gas (GHG) Strategy, acco
Global fashion giant Inditex, the parent company of renowned brands like Zara and Massimo Dutti, has joined forces with Maersk to reduce its carbon footprint in global seaborne logistics. The partnership aims to incorporate alternative, eco-friendly fuels into all inbound routes through Maersk’s ECO
Romanian ministries have prepared a draft emergency ordinance with which the Maritime Spatial Plan (MSP), a strategic planning document identifying the spatial and temporal distribution of current and future activities and uses within Romanian waters, is approved. Romania’s Ministry of Environment a
BIMCO, the world’s largest international shipping association, has adopted a new CII clause for voyage charter parties to support the industry’s decarbonization path.
As the world races towards a net-zero emissions future by 2050, it’s imperative to acknowledge some hard truths and heed the wake-up calls emerging from the latest reports and analyses. The energy transition journey is undoubtedly complex, laden with challenges and unearthing difficult realities as
New report warns that restrictions on oil & gas vessels in the Gulf of Mexico will undermine U.S. energy security and hamper economic growth.
A shortage of repair yards with experience in conversions may hinder the take up of alternative fuel technology by the existing fleet, according to the findings from LR’s new Engine Retrofit Report. The report has identified that retrofitting a significant number of the 9,000 and 12,900 large mercha
The European Commission will not extend the EU legal framework exempting liner shipping consortia from EU antitrust rules, known as the Consortia Block Exemption Regulation (CBER). This decision comes after a review process initiated in August 2022, with the CBER set to expire on April 25, 2024. The
