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Tuesday, February 25, 2020

Greenhouse Gas Emissions News

Image by Poseidon Principles

Poseidon Readies $140Bn Shipping Loan

With the signing by the France-based international lender to global shipping BNP Paribas and the Swiss multinational investment bank Credit Suisse, Signatories of the Poseidon Principles represent around $140 billion in loans to international shipping – about 30% of the total global ship finance portfolio.Poseidon Principles is a global framework for responsible ship finance which helps incentivize shipping’s decarbonization.They establish a common framework to quantitatively…

© Martin Lueke / Adobe Stock

IMO's 2050 Decarbonization Target Has $1 Trillion Pricetag

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N. shipping agency, the International Maritime Organization (IMO), aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050…

Image: Eagle Bulk Shipping

Eagle Bulk Joins Decarbonization Coalition

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle…

Image: © Port of Gothenburg

Green Gothenburg Gateway Readies

APM Terminals Gothenburg will switch entirely to renewable energy with their Green Gothenburg Gateway concept during 2020.A year ago, APM Terminals Gothenburg introduced the Gothenburg Gateway to accelerate the development of Sweden’s goods transports, having identified the need for Sweden to keep pace as global goods transports grow in scale and become more efficient. APM Terminals Gothenburg is now taking the next steps towards becoming a more efficient gateway by introducing Green Gothenburg Gateway on December 6th at a launch event in front of key stakeholders.

Image: International Chamber of Shipping

Ship Industry Proposes $5B R&D Fund to Cut Emission

Shipping associations have proposed creating a research fund with $5 billion raised by the industry to develop technology to help the sector meet U.N. targets on cutting emissions."The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D program to help eliminate CO2 emissions from international shipping," said a press note from International Chamber of Shipping (ICS).The proposal include a new non-governmental Research & Development organisation to pave the way for decarbonization of shipping.

Tom Strang, senior vice president of maritime affairs for Carnival Corporation

Carnival Joins the Getting to Zero Coalition

Carnival Corporation has announced it has joined the Getting to Zero Coalition.Carnival Corporation is the first cruise company to join the global alliance.The coalition’s goal aligns with the International Maritime Organization’s (IMO) strategy to reduce greenhouse gas emissions from shipping by at least 50% by 2050 as compared to 2008 emissions. To meet the target, the Getting to Zero Coalition aspires to having technically feasible, commercially viable zero emission deep sea vessels (ZEVs) entering the global shipping fleet as early as 2030.

Image: APM Terminals Gothenburg

Gothenburg Port to be Fossil Free in 2020

Swedish container facility Port of Gothenburg is aiming to be a fossil free terminal by 2020, said its owner-operator Danish-owned APM Terminals.APM Terminals Gothenburg  launched environmental strategy  “Green Gothenburg Gateway”  which sees its terminal in the port aiming to become fossil-fuel free next year.Gothenburg Gateway is to accelerate the development of Sweden’s goods transports, having identified the need for Sweden to keep pace as global goods transports grow in scale…

Image: Gasum

Gasum Makes its 1st Cruise Ship STS LNG Bunkering

The Nordic energy company Gasum said that its liquefied natural gas (LNG) bunker vessel Coralius conducted first ever ship-to-ship (STS) bunkering to a cruise ship - Carnival Corporation's cruise vessel Costa Smeralda.During the bunkering operation, LNG was supplied to the newbuild Costa Smeralda at the Meyer Turku shipyard. Costa Smeralda is the first cruise ship in a series of newbuilds at Meyer Turku that will be fitted with LNG propulsion.LNG is the cleanest available marine fuel…

Pic: Port of San Diego

San Diego Port Buys Eco-Friendly Fleet

The Port of San Diego in the US is planning to purchase seven vehicles for its work fleet that will run on renewable diesel fuel, in its efforts to act as an environmental champion of San Diego Bay.The Board of Port Commissioners approved a $700,000 agreement with 72 Hour LLC, DBA National Auto Fleet Group at its November 5, 2019 Board meeting.The emissions produced from renewable diesel do not result in a net increase of CO2 emissions because renewable diesel is produced by biogenic…

Pic: Clean Shipping Alliance (CSA) 2020

CSA 2020 Applauds DFDS on EGCS Drive

The international organization to promote Exhaust Gas Cleaning Systems (EGCS), Clean Shipping Alliance (CSA) 2020 has congratulated Danish ferry operator DFDS A/S for ten years of successful scrubber operation, with EGCS onboard the 37,939gt roro Ficaria Seaways achieving more than 50, 000 running hours since 2009.Ficaria Seaways, one of the first ro-ro vessels to be fitted with an Alfa Laval PureSOx system, operates inside the stringent European Sulfur Emission Control Area (SECA)…

AdobeStock / © 14KTGold

Shipping Executives Push 'Carbon Levies'

Executives at some of the world's top shipping groups are advocating a levy on carbon emissions on shipping in an effort to shape tightening rules on greenhouse gas emissions while providing a means to fund development of cleaner fuel sources."To meet international shipping's decarbonization challenge, the maritime industry needs a carbon levy, it is coming, and we should shape it," said Andreas Sohmen-Pao, chairman of BW Group at the Global Maritime Forum in Singapore this week.The…

Vancouver Fraser Port Authority. Image: SEA\LNG

B.C. Backs LNG Bunkering

The British Columbia Government has joined Vancouver Fraser Port Authority and FortisBC to establish the first ship-to-ship LNG marine refueling – or bunkering – facility on the west coast of North America.The use of LNG to power the world’s ocean-going vessels is forecast to expand and B.C. is well positioned to benefit from this growth.According to industry standards, replacing diesel fuel with LNG has the potential to reduce greenhouse gas (GHG) emissions by approximately 20%. Because FortisBC’s Tilbury facility runs on clean B.C.

The crew transfer training facility is a critical component of a comprehensive safety training program to be offered by Mass Maritime. Image: MMA

Massachusetts Maritime Academy Opens Wind Training Facility

Baker-Polito Administration Celebrates the First-in-the-Nation Offshore Wind Training Facility Located at Massachusetts Maritime Academy. MMA steps out in front to train the professionals who will make the coming wave of domestic offshore wind.Today, Governor Charlie Baker, Lt. Governor Karyn Polito, Secretary of Energy and Environmental Affairs Kathleen Theoharides, and Stephen Pike, CEO of the Massachusetts Clean Energy Center, joined officials from the Massachusetts Maritime Academy to launch the first-in-the-nation offshore wind crew transfer training facility.

Image: Chevron

Chevron Sets New Goals for Greenhouse Gas Reduction

American multinational energy giant Chevron Corporation unveils new goals to reduce oil production-related greenhouse gas (GHG) emissions by 5% to 10% over a seven-year period ending 2023 as part of an ongoing effort to combat global climate change.The GHG emission intensity reduction metrics apply to all upstream Chevron oil and natural gas, whether Chevron has operational control or not. Emission intensity is the emission rate of greenhouse gas per unit of energy produced.“Global demand for energy continues to grow…

© Yaniv / Adobe Stock

Shipping Sector Sets Course for Zero Carbon

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

Photo: Sovcomflot

Sovcomflot, NYK Pact on Financing 2 LNG Carriers

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) and NYK Line have announced that they have signed a new $176 million non-recourse credit facility for eight years with three leading international banks.The banks are: Sumitomo Mitsui Banking Corp. of Japan (through its German subsidiary, SMBC Bank EU AG); Société Générale of France; and Shinsei Bank of Japan. The agreement was reportedly signed through joint venture companies belonging…

Representatives from the Panama Canal and the Port of Rotterdam meet in Panama. Photo: Panama Canal Authority (ACP)

Panama Canal Signs MoU with Rotterdam Port

The Panama Canal and the Port of Rotterdam signed a Memorandum Understanding (MOU) to promote international trade between Europe and the West Coast of South America.Through this agreement, the two organizations will work closely to optimize operations while encouraging economic growth and the exchange of information on new business development opportunities, including logistics parks and port development projects."The Expanded Canal continues to reshape global trade routes today…

Wärtsilä’s Advanced Waste technology will enable the Regal Princess to dispose of waste safely, efficiently, and with environmental sustainability. Copyright: Princess Cruises

Wärtsilä Waste Treatment for Princess Cruises

The Finnish technology major Wartsila will supply and install an Auto Gasification solution for the Regal Princess, enabling the safe disposal of waste from the ship through a self-fueling thermal decomposition unit, thereby significantly reducing greenhouse gas emissions.The gasification unit on Princess Cruises’ vessel will reduce the ship’s waste to less than 5% of it is original volume, turning it into a sterilize inert material called Bio Char and a synthetic gas that will be recycled within the unit as fuel…

Photo: NYK Line

NYK Group to Build New Heavy-lift Vessels

NYK Bulk & Projects Carriers Ltd., an NYK Group company and the only shipping company that owns and operates heavy-lift ships in Japan, signed a contract with Nanjing Jinling Shipyard Co. Ltd., which is part of the China Merchants Group, to build a pair of heavy-lift vessels. The ships will be equipped with a pair of 400-ton cranes and be able to lift up to 800 tons of heavy cargo. The hold will be about 95 meters in length at its maximum without any bulkheads, i.e., upright walls within the hold.

AdobeStock / (c) 14KT Gold

'Green' Focus for Citigroup's Shipping Finance Chair

Citigroup's veteran shipping finance banker Michael Parker is to become chairman of the bank's shipping & logistics business, a role which will include bolstering the lender's environmental focus in the sector, Citi said on Thursday.In June, Citi was among a group of leading banks who signed up to environmental commitments known as the "Poseidon Principles."These will for the first time integrate efforts to cut CO2 emissions into banks' decision making when providing loans to shipping companies.The initiative highlights how businesses are having to respond to moves by investors around the worl

World’s first LNG-powered crude oil tanker (courtesy of SCF Group)

Shell Charters LNG-Powered Tanker Fleet

Shell Tankers (Singapore) Private Ltd has agreed a long-term deal to charter a fleet of 10 LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical Co Ltd, which expects to take delivery of them from Samsung Heavy Industries in South Korea in 2021."Shell has agreed to charter a fleet of new liquefied natural gas (LNG)-fueled crude oil and products tankers, as part of its drive to decarbonise shipping," said a press note.Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P.

Seabulk Completes First Methanol Shipment

Seabulk Tankers, a subsidiary of SEACOR Holdings, has announced the successful delivery of its first methanol parcel chemical shipment aboard the articulated tug-barge (“ATB”) Sea-Power/Sea-Chem I.The Sea-Power/Sea-Chem I loaded a 10,500 metric ton methanol parcel in the U.S. Gulf of Mexico and discharged the parcel in Charleston, South Carolina and Chesapeake, Virginia. The vessel can load up to 30,000 metric tons of cargo into eleven segregations and is equipped with stainless steel cargo piping and MarineLINE 784 cargo tank coating.

© Sergi / Adobe Stock

Panama Canal starts Speed Limits to Protect Whales

Starting August 1 and until November 30, 2019, the Panama Canal will promote the implementation of the International Maritime Organization’s (IMO) annual recommendations on speed and maritime transit aimed at protecting cetaceans, which include whales, dolphins and other large aquatic mammals, during their nearby seasonal migration.With these measures, ships should proceed at a speed of not more than 10 knots in specified areas. Panama has monitored this requirement since December 1…

File image / AdobeStock / © dbvirago

Marseille Fos Accelerates Air Emissions Cuts

Among a string of new eco-friendly initiatives, the Marseille Fos port authority is to spend $22 million over the next six years to extend shoreside electrical connections for berthed vessels to every ferry, cruiseship and repair quay within the Marseille eastern harbor.Already available on the Corsica ferry quays, the network will be expanded in two phases to cover North Africa ferry quays and the shiprepair hub by 2022 and the cruise terminal between 2022 and 2025. The zero…

file Image: AdobeStock / © dbvirago

UK to Insist on Zero Emission Ships from 2025

Britain's government on Thursday said all new ships ordered from 2025 and aimed for its waters must be equipped with zero emission technology, as part of a new plan to cut maritime pollution.Britain last month announced a target to reach net zero greenhouse gas emissions by 2050, making it the first among the major G7 countries to set such a goal.As part of a new "Clean Maritime Plan" unveiled on Thursday, the government said ships ordered from 2025 onwards must have zero-emission capabilities.

OXE Diesel. Image: Cimco Marine AB

EIB Invests in Low-Emissions Outboard Engines

The European Investment Bank (EIB) has signed a EUR 14 million venture loan agreement with Sweden’s Cimco Marine AB to co-finance its innovation and growth investments.As per the unsecured credit facility agreement, the EIB will finance up to 50 percent of Cimco’s development of a new family of diesel outboard engines, inter alia a 3 liter, 6- cylinder twin turbo BMW diesel engine with a number of power outputs between 200 hp and 300 hp."The total facility is split into three tranches of EUR 4 million (A)…