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Pressure builds for charge on global shipping sector’s CO2 emissions

The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector’s greenhouse gas emissions, documents reviewed by Reuters showed. The documents, being discussed at an International Maritime Organization (IMO) meeting now entering a second week, outline four proposals with a combined 47 backers for imposing a fee on each tonne of greenhouse gas the industry produces. Support for the idea has more than doubled from the 20 nations that publicly supported a carbon levy at a French ...

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Vessel was reportedly targeted near Yemen’s Hodeidah, Ambrey and UKMTO say

British maritime security firm Ambrey and the United Kingdom Maritime Trade Operations (UKMTO) reported on Friday an incident near Yemen’s Hodeidah where the Iran-aligned Houthis continue to attack shipping lanes in solidarity with Palestinians in the Gaza war. UKMTO said it had received a report of an incident 65 nautical miles west of Hodeidah where the master of a merchant vessel reported an explosion a distance off the vessel’s starboard beam. “There is no damage to the vessel and the crew are reported safe. The vessel is continuing to its ...

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ETS: ‘Quite a year’ for ship owners

It has been “quite a year” for ship owners preparing for the EU Emission Trading System, according to Steve Laybourn, chartering manager at Ardmore Shipping. Describing the preparation as a “bit of a rollercoaster ride”, Laybourn urged laggards to move quickly and put in place proactive measures. “We’ve had to negotiate everything from our internal roles, responsibilities, workflows, and dealing with our technical managers. We’ve had to set up a trading account with our EU Administering Authority. We’ve gone through KYC and onboarding with our carbon trading partners, and we’ve ...

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MEPC81: Carbon Intensity Indicator: Demands for UN Shipping Body To Strengthen Efficiency Rules

Ahead of this week’s meeting of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 81, March 18-22), the Clean Shipping Coalition is calling on the IMO to urgently step up ship climate action by improving its Carbon Intensity Indicator (CII), which would quantify and raise ship efficiency while fostering greater transparency and driving deep and lasting reductions in pollution. “The IMO must revise its Carbon Intensity Indicator and agree on tough new requirements to ensure that ships improve energy efficiency year on year”, said Clean Shipping Coalition President John Maggs. “This is crucial for ...

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Baltic index hits over 3-month high on firm demand across vessel segments

The Baltic Exchange’s dry bulk sea freight hit a more than three-month high on Monday on robust demand across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 45 points, or 1.9%, to 2,419 points. The capesize index was up by 70 points, or 1.74%, at 4,089. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $579 to $33,911. The panamax index gained 64 points, or 2.9%, to 2,298 points, rising ...

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China’s export container shipping price index up 20.9 pct in February

China’s export container shipping price index jumped 20.9 percent month on month in February, data from the Shanghai Shipping Exchange shows. The average China Containerized Freight Index (CCFI) stood at 1,440.74 last month, according to the shipping exchange. The sub-reading for the West Coast America service recorded the largest increase, with a month-on-month growth of 33.8 percent, followed by that for the Europe service. Bucking the upward trend, the sub-reading for the Persian Gulf/Red Sea service fell 1.8 percent from the previous month. The CCFI tracks spot and contractual freight ...

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Rare Antwerp-Bruges bunker sales release shows it as fourth biggest bunker hub

The Port of Antwerp-Bruges released its bunker sales figures for the first time in years. The port released Antwerp sales data which goes back to 2015, while Zeebrugge sales are from 2016 onwards. The Port of Antwerp-Bruges’ combined sales might have reached their highest ever last year and were at least greater than in any year since 2015-2016. The sales figures also revealed an increase in total bunker fuel sales in every quarter of 2023. Consolidated fuel oil bunker sales in Antwerp-Bruges were up by 31%. While Antwerp provides more ...

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How African countries became casualties of Sudan war and Red Sea maritime mayhem

Already plagued by complex internal problems, the economies of East Africa have perhaps been the most affected among regional states by the unfolding crisis in Sudan and the attacks on trade passing through the Red Sea. The conflict in Sudan between the Sudanese Armed Forces, or SAF, and paramilitary Rapid Support Forces, or RSF, which began on April 15 last year, has caused massive internal and cross-border displacement as well as disruption of critical supply chains. Meanwhile, attacks on commercial shipping in the Red Sea by Yemen’s Houthi militia, launched ...

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Ahead Of MEPC81, Belgian Shipowners Once Again Make The Case For A Global Maritime Pricing Mechanism

In the coming week, the IMO’s Marine Environment Protection Committee (MEPC 81) will meet to address the complex challenge of decarbonising the maritime industry. Surprisingly, amidst the multitude of proposed measures, the simplest solution may yet hold the key to effective decarbonization: implementing a global price on greenhouse gas (GHG) emissions, argues the Royal Belgian Shipowners’ Association (KBRV). “A global GHG pricing mechanism offers a straightforward and powerful incentive for the industry to transition towards decarbonization, aligning with the fundamental principle of “polluter pays,’” says KBRV’s Head of Environmental & ...

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Aspo’s subsidiary ESL Shipping to sell its Supramax vessels

Aspo Group’s subsidiary ESL Shipping has signed a memorandum of understanding according to which it will sell its two Supramax class vessels to companies belonging to HGF Denizcilik Limited Sirket group, a Turkish shipping and logistics company. The sale of the vessels is part of Aspo’s program announced in April 2023 to support and accelerate ESL Shipping’s low-carbon growth strategy. The delivery of the vessels is expected to take place in April-May 2024. The sales price is USD 37.1 million and it is paid fully in cash. Considering the carrying ...

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Brunvoll Propulsion Chosen for ESVAGT’s Growing Fleet of Service Operation Vessels

Brunvoll has once again been chosen as supplier of the propulsion and manoeuvring system for one of ESVAGT’s new service operation vessels (SOV). This will be the fourth ESVAGT vessel currently undergoing construction. The vessel is designed by HAV Design and will be built at Cemre Shipyard. ESVAGT’s new SOV will be controlled by Brunvoll’s propulsion and thruster control system, BruCon PTC. The vessel will be outfitted with two azimuth propulsion thrusters, two retractable azimuth thrusters, and a tunnel thruster. Once completed, the new vessel will enter operation for Vestas ...

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US sanctions shipping company, targeting Iran and Houthi rebels

The US Department of Treasury unveiled on March 15 new sanctions on shipping company Vishnu Inc and its oil tanker accused of delivering illicit shipments to China in support of Iran and Houthi rebels in Yemen. Treasury said the Lady Sofia, a Suezmax oil tanker owned by the Marshall Islands-registered company Vishnu Inc, engaged in a ship-to-ship transfer with the recently sanctioned vessel Mehle. The Mehle, disguised as a nonexistent vessel called the Amor, used identification spoofing technology to falsely broadcast its location as the South China Sea while offloading ...

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Fourworld request also denied in Belgium – Offers have closed as scheduled

Euronav NV (“EURN”, “Euronav” or “the Company”) (NYSE: EURN & Euronext: EURN) has been informed that the Market Court in Belgium has also denied a request to suspend the closing of the Belgian offer. The request was filed by certain funds managed by FourWorld Capital Management LLC. Both the U.S. offer and the Belgian offer have closed earlier today as scheduled. Source: Euronav

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Groke Technologies Welcomes Energy Saving And Safety Performance Of First Windwings Ship

Groke Technologies has welcomed the energy saving performance of the world’s first vessel fitted with BAR Technologies’ wind propulsion system WindWings®, which charterer Cargill said has achieved equivalent fuel savings of 3t per day. In a news release issued last week, Cargill Ocean Transportation, one of the world’s foremost freight-trading organisations, chartering around 650 vessels, said the performance of the two 37.5m WindWings fitted to MC Shipping’s bulker Pyxis Ocean “is encouraging”. Juha Rokka, CEO of Groke Technologies, the Finnish company which supplied situational awareness cameras to the vessel, said: ...

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ClassNK awards first-ever notation for improvements in living and working environment to Fuyo Kaiun’s bulk carrier “ELETTRA”

ClassNK has granted its “ELW” (Excellent Living and Working Environment) notation to “ELETTRA”, a bulk carrier owned by Fuyo Kaiun Co.,Ltd. The vessel becomes the first in ClassNK registry to have the “ELW”. As part of its “Innovation Endorsement”*1 service for innovative technologies and initiatives, ClassNK has established requirements to indicate on a class certificate that a ship is equipped with measures and facilities that contribute to the improvement of the on board environment in its “Guidelines for Excellent Living and Working Environment”. Aiming to improve the welfare of the ...

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