Ship owners are encountering new levels of complexity as previous ship designs are modified to integrate new clean technologies and adopt alternative fuels. In this scenario, it is essential that they select a design partner who can consult effectively on the challenge and dedicate the necessary resources. The maritime industry is undergoing a transformative shift towards decarbonization. It is clear that both, the European Union and the IMO on a global scale, are deeply committed to environmental protection, making decarbonization a top priority. The exposure to these regulations, carbon pricing, ...

LNG offers many benefits as a transitional ship fuel. However, certain engine types have been found to release significant amounts of unburnt methane, a powerful climate gas. DNV is involved in various projects aiming to minimize methane slip. Methane, the main component of natural gas and LNG, has a global warming potential (GWP) 29.8 times that of carbon dioxide (CO2) over a 100-year timeframe, according to the Intergovernmental Panel on Climate Change (2021). Preventing methane from escaping anywhere along its supply chain is therefore crucial as the world tries to ...

Kongsberg Maritime has won a contract to supply design, engineering, and equipment for two MGO/Biofuel and methanol-ready chemical tankers for Swedish tanker operator Sirius Rederi AB. These highly advanced, low emission 15,000dwt tanker vessels will feature a range of Kongsberg Maritime equipment and can operate on battery-powered hybrid propulsion. Options for further vessels are included. This latest contract builds on a current nine-ship programme with fellow Swedish owner Terntank, with a similar design and equipment package. All 11 vessels will be built at the China Merchants Jinling Shipyard (Yangzhou) Dingheng. ...

In an initiative set to be transformational for ship design while protecting the oceans from pollution, Thordon Bearings and Wärtsilä have announced the formation of the Blue Ocean Alliance to develop and promote the revolutionary sterntube-less ship concept. The Blue Ocean Alliance brings together unrivalled maritime industry expertise, with seawater-lubricated bearings pioneer Thordon Bearings, systems integrator Wärtsilä, the School of Naval Architecture & Marine Engineering of the National Technical University of Athens (NTUA), naval architect SDARI (Shanghai Merchant Ship Design & Research Institute CSSC) and classification society, ABS, who championed ...

In a momentous ceremony at the 21st convocation function of the University of Petroleum & Energy Studies, Dehradun, Mr. Ajith PJ, an Indian expat, working in the UAE over two decades now, was honored with an academic doctorate for his pioneering research on “Measuring Energy Efficiency of Offshore Support Vessels in the UAE for developing an Operational Framework and Performance Index.” Spanning over six years, Ajith’s research was focused on addressing a focused business problem in the maritime industry – the lack of a standardized methodology for analyzing energy efficiency ...

Kenoil Marine Services (“Kenoil”), an ISCC-certified marine fuel supplier, has successfully carried out the inaugural ship-to-ship bunker delivery of biofuel-blended low sulphur marine gas oil in Singapore. The sustainable biofuel blend used in this milestone bunkering operation was a B24 composite blend of low sulphur marine gas oil and UCOME (Used Cooking Oil Methyl Ester). The 200 mton parcel was seamlessly loaded onto Kosmos Lily, a bunker tanker operated by Kenoil, at Jurong Port via ISO road tankers. This biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified ...

To achieve climate neutrality for all EU countries by 2050 and, thereby, realizing the ambitious European Green Deal, gains in energy efficiency in all sectors are just as important as the increased use of renewable energies. In transportation, this means elevating the share of vehicles with drive systems powered by electricity and sustainable alternative fuels – including inland vessels. Additionally, a green modal shift from highly congested roads to better utilized inland waterways shall be realized. However, the increased use of inland waterways is already being hampered by changes in ...

One of the major talking points in ocean freight shipping is the introduction of EU ETS carbon emissions regulations in 2024. Is this a sign of the industry getting serious about its environmental responsibilities or another initiative which is full of good intentions but ultimately lacking any bite? Is now the right time for shippers to take a stand on this surcharge and draw their battle lines before the regulations get even tougher down the line? Xeneta analysts Emily Stausbøll and Peter Sand have taken a deep dive into this ...

A new report from the Global Maritime Forum, prepared on behalf of the Getting to Zero Coalition, reveals a doubling of green corridor initiatives, increased maturity of existing projects, and a significant increase in the number of stakeholders involved. The second edition of the Annual Progress Report on Green Shipping Corridors reveals that the number of green corridor initiatives around the world went from 21 to 44 over the past year, and finds substantial maturation among existing corridors, with multiple corridors clearing a progress stage, deciding on their priority fuels, ...

IMO has presented its latest work on reducing GHG emission from ships, including the adoption of the 2023 IMO GHG Strategy, at the United Nations Climate Change conference (OP 28), meeting in Dubai, United Arab Emirates (30 November–12 December). The IMO submission to the Subsidiary Body for Scientific and Technological Advice (SBSTA) was presented by Mr. Camille Bourgeon from the IMO Secretariat. In July, IMO adopted the 2023 IMO Strategy on Reduction of GHG Emissions from Ships, with a commitment to reach net-zero GHG emissions by or around, i.e. close ...

Propspeed, leading innovator of underwater foul-release coatings, announced today that Netherlands-based shipbuilder Padmos conducted an independent test in conjunction with Techbinder, a data-driven vessel optimization technology firm, of the Propspeed system on one of their vessels, with results concluding that Propspeed significantly reduced fuel and power consumption as well as load on the vessel. The test, carried out after the vessel’s hull and running gear was freshly cleaned, was conducted by having the commercial fishing vessel Windroos navigate a set course twice: once without Propspeed coating, and once with Propspeed ...

A new research paper published in Journal of Environmental Innovation and Societal Transitions by researchers from the UCL Energy Institute explores the role ship financiers can play in shipping’s transition to zero emission fuels. Using a novel theoretical framework which categorises financiers into five enabling or disabling categories, it finds that most expressed an ambition to support incumbent shipowners (as Loyal Enablers) in the transition, but this is mainly due to the importance of their existing corporate relationships. With this financing approach, they place the responsibility of the energy transition ...

In the ever-evolving landscape of ship financing, the maritime industry has witnessed significant transformations over the past decade, particularly in relation to sustainability and environmentally conscious projects. This shift has been notably driven by the Poseidon Principles banks, the coalition of financial institutions that collectively manage a substantial 70% of the world’s shipping loans. As the industry adapts to greener practices, oceanis – a financing platform for asset backed shipping investments – noted that two distinct schools of thought have emerged: the ‘cancel culture’ group and the ‘engage-to-change’ group. The ...

The Chief Executive Officers (CEOs) of leading global shipping lines have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO), the global regulator, to create the regulatory conditions to accelerate the transition to green fuels. Global temperatures are breaching critical levels, creating more frequent and devasting results. Therefore the importance of shipping achieving IMO’s 2030, 2040, and net-zero 2050 greenhouse gas (GHG) targets is very clear. The only realistic way to meet those targets for an ...

Maybank Singapore (Maybank) has extended a US$100 million sustainabilitylinked Islamic revolving credit facility (RCF-i) to AET, one of the leading global owners and operators of maritime transportation assets and specialised services. This landmark transaction marks the first of such facility in the shipping industry in Southeast Asia, demonstrating both Maybank and AET’s commitments to net-zero greenhouse gas (GHG) emissions. The maiden RCF-i will support AET’s strategic initiatives to reduce its fleet’s GHG emissions intensity by 40 per cent by 2030 (against 2008 baseline) and achieve its long-term commitment of net-zero ...