NYK Introduces Its Green Bond Initiatives
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. in Tokyo.A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.The importance of environmental, social, and governance (ESG) initiatives is getting a lot of attention in capital markets…
MPC Container Ships Plans Huge Investment in Scrubbers
The Oslo-based feeder tonnage owner MPC Container Ships has committed to buy exhaust gas cleaning systems (scrubbers) for five of its ships, with an option to buy ten times as many additional scrubber systems.Under the agreement, the scrubbers would be retrofitted on five selected vessels within the company’s fleet prior to the January 1, 2020 implementation date of the new sulphur emission cap regulation, as set forth by the International Maritime Organization (IMO).Norwegian…
Breaking Down IMO’s 0.5% Bunker Sulfur Cap
Breaking down the challenges of the 2020 sulfur cap can be confusing. Matti Bargfried provides a primer. What has happened so far? The IMO this October voted in its 70th session of the Marine Environment Protection Committee to globally cap the maximum amount of sulfur allowed to 0.5 percent. HFO will be further allowed (there is no mandate to disallow usage) provided it meets the set standards. Alternative measurements like scrubbers are also accepted to reduce the ship emissions.
Eimskip, RAL Order Containerships from China
Iceland’s Eimskip and Greenland’s Royal Arctic Line (RAL) have signed an agreement to share capacity, and together ordered three new ice-class containerships to be built in China. Eimskip said it has finalized contracts with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. for the construction of two 2,150 TEU container vessels, and RAL also signed a contract for one vessel of the same type from the same shipyard. With a length of 180 meters and breadth of 31 meters…
Scrubbers Installed on Another Great Lakes Bulker
The Interlake Steamship Company’s M/V Lee A. Tregurtha sailed today from Fincantieri Bay Shipbuilding Company in Sturgeon Bay, Wisc., becoming the shipper’s third self-unloading bulk carrier to be outfitted with exhaust gas scrubbers. Interlake became the first U.S.-flag fleet to test scrubbers on the Great Lakes in April 2015 after pioneering the emission-reduction technology on its M/V Hon. James L. Oberstar. Earlier this month, the M/V James R. Barker sailed as the fleet’s first 1,000-footer with scrubbers. “With the Lee A.
MOL Launches Scrubber Technology Study
Mitsui O.S.K. Lines Ltd. announced that it has entered into a joint study to equip in-service vessels with SOX scrubber system, to ensure compliance with upcoming international environmental regulations. The scrubbers eliminate sulfur dioxide (SOX) from exhaust gas, allowing vessels to meet international treaty standards for SOX emissions without using low-sulfur fuel. Also participating in the project are Nippon Kaiji Kyokai, Minaminippon Shipbuilding Co. Ltd. , Sanwa Dock Co. Ltd., and Wärtsilä Japan Ltd.
Green Shipping: Wessels Reederei Takes the Lead
International trade relies on transportation by sea, as about 85 percent of the freight volumes are shipped globally by vessels. But while maritime is widely regarded as the most environmentally benign of any transport system, maritime transport can cause a diverse environmental burden: It includes, beside the potential for damages and leaks, the inflow of waste water and, in particular, the emissions of air pollutants. Furthermore the improper cleaning of oil sludge, as well as the transfer of organisms into foreign ecosystems within ballast water.
Scrubber Ready: New DNV GL Class Notation
A new class notation from DNV GL aims to help shipowners prepare newbuilds for scrubber installations. SCRUBBER READY ensures that the necessary preparations are in place for a smooth and cost-efficient scrubber retrofit at a later stage, the classification society said. “There is no doubt that stricter emissions regulations for sulphur oxides are here to stay,” said Knut Ørbeck-Nilssen, CEO at DNV GL – Maritime. “Ship managers have to factor in many considerations when planning for a potential future scrubber installation…
ABS Guide for SOx Scrubber Ready Vessels Released
New class notation recognizes vessels designed with SOx Scrubber ready features to facilitate cost-effective and time-efficient retrofit. (Houston) ABS, a leading provider of classification and technical services to the global marine and offshore industry, has published the ABS Guide for SOx Scrubber Ready Vessels to support members and clients in preparing newbuilds for future outfitting with a SOx exhaust gas cleaning system (EGCS). Supporting the world’s first classification notation for SOx Scrubber Ready Vessels…
Interlake Steamship to Install Scrubbers on 2 More Ships
Following the implementation of exhaust gas scrubbers on its self-unloading bulk carrier M/V Hon. James L. Oberstar, the Interlake Steamship Company has announced its plans to expand its emission-reduction efforts to one-third of its fleet by installing similar scrubber systems on the M/V Lee A. Tregurtha and M/V James R. Barker early next year. In April 2015, Interlake became the first U.S.-flag fleet to test freshwater scrubbers on the Great Lakes when the system became operational on the 806-foot Oberstar.
Matson Pumps $30 Million into Alaska Operations
Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services. The company expects to invest more than $30 million in new equipment planned by Horizon prior to its acquisition. According to the shipper, equipment upgrades to be made over the next three months include 2,000 new standard 40-foot dry containers for general cargo, a new 65-ton gantry crane for Kodiak Terminal…
Wärtsilä Hybrid Scrubbers for 3 Box Ships
Wärtsilä has received an order for Hybrid Scrubber Systems to clean the exhaust emissions from three 2,500 TEU container vessels. The installation has been ordered by a major European owner and operator and will be carried out at the Jinhai Heavy Industry Co., Ltd in China. The contract was signed in March 2015 and the systems are scheduled for delivery in December 2015. The scrubber system, which comprises two scrubber units, will be installed to clean the exhaust from both the main and auxiliary engines.
Wärtsilä, CME Offer ‘Scrubber Finance’
In a move intended to help ease the financial burden on shipowners seeking to install scrubber systems to meet sulphur emissions legislation, Wärtsilä and Clean Marine Energy (Europe) Ltd. (CME) have signed a collaboration agreement that will provide a funding solution to drive the uptake of exhaust gas cleaning technology. The financing solution, similar to those in the building environment space, enables a shipowner to repay the cost of the scrubber system installation via a fuel adder, i.e.
Shippers Must Reduce Costs, Boost Efficiency
So what’s keeping ship operators awake at night these days? Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates, rising costs of fuel and regulatory compliance and a lingering sense that ships are not running as efficiently as they could. The last two topics – reducing fuel costs while complying with emission regulations and improving ship operating efficiency – will take center stage at SHIPPINGInsight 2014, scheduled for Sept. 30 – Oct. 2 in Stamford, Conn.
Repair Yards Challenged to Reduce Owners’ Investment Costs
International environmental regulations for the shipping industry are being tightened and demand a reduction of the emissions of sulphur and nitrous oxides. In order to fulfill these demands, many of which come from the UN’s International Maritime Organization (IMO), shipping companies are pushed to upgrade their fleets with emission reducing systems. Ship repair and conversion yards are now challenged to keep installation costs as low as possible for their clients. Damen Shiprepair Götaverken (Gothenburg…
TransAtlantic Scrubber for SECA 2015
TransAtlantic and Stora Enso have signed and started the installation of the first order of a new innovative scrubber that washes out sulphur oxides from ship exhaust gases in a totally closed loop. It has taken years to find a solution that is able to coop with the fresh water and ice conditions in the Bothnia Bay during winter. It has been important to find a solution that not only meets the operation requirements but also high demands on sustainability. A closed loop has been one of the main criteria…
EPA, USCG Extend Agreement with Royal Caribbean
The U.S. Environmental Protection Agency (EPA) and U.S. Coast Guard (USCG) authorized formal exemptions by Royal Caribbean Cruise Lines that allow for the enlargement of the cruise line’s research program to develop and install exhaust gas scrubber systems on its cruise ships. Under the exemption, as articulated in MARPOL, Royal Caribbean will expand the program from six to 19 ships. This emission control technology will be used in waters surrounding U.S. coasts, known as Emission Control Areas (ECAs). Because emissions from oceangoing vessels can harm air quality on land, the U.S.
Yara Marine to Deliver 6 Scrubbers for LPG Carriers
Yara Marine Technologies (former Green Tech Marine) – a world leading scrubber supplier – has won a contract to deliver 6 exhaust gas cleaning systems (“scrubbers”) to an undisclosed ship-owner in 2015. The vessels are currently under construction at Hyundai Mipo Dockyard in Korea, and will be supplied to the owner in 2016. The vessels will be trading mainly in the North European ECAs (North Sea and Baltics). By using the Green Tech Marine® scrubbers, ship owners can continue to operate on heavy fuel oil instead of more costly marine gas oil…