• 2018 October 6 10:47

    34 maritime CEOs sign call for action in support of decarbonisation at Global Maritime Forum

    This week the Global Maritime Forum brought together a group of 34 CEOs and industry leaders from across the maritime value chain and from all around the world to sign a call for action and to lead the maritime industry in a transition towards a new decarbonised future, LR said in its press release.

    To achieve this, these leaders believe the maritime industry needs to accelerate both technological and business model innovation, further improve operational and technical energy efficiency, and transition to zero-carbon fuels and new propulsion systems. These leaders support the scientific rationale for urgent action presented by the Intergovernmental Panel on Climate Change and the IMO’s greenhouse gas studies. Together, they emphasise the need to meet the temperature goals of the Paris Agreement and for the maritime industry to phase out greenhouse gas emissions as soon as possible.

    The signatory CEOs believe that a shift to a low-carbon economy by 2050 has the potential to create new opportunities for business through both technological and business model innovation. The shipping industry must rise to the biggest technology challenge in 100 years, and regulations should provide long-term certainty for financiers, builders, owners and charterers to make the required investments in low carbon technologies. CEOs accept the need for transparency to help drive change.

    “Global seaborne trade’s transition to a low-carbon future will propel both technological and business model innovation. The right incentives for accelerated investment into R&D can only come about if we get a global IMO based regulation. We invite stakeholders from the entire maritime spectrum to join us on this new journey,” says Claus Hemmingsen, Vice CEO of A.P. Moller – Maersk.

    Emissions reduction objectives should be met at the lowest possible cost, and the acceleration to the use of low-carbon technologies and fuels will require significant funding flows for research and development. The industry should explore the use of carbon pricing and other mechanisms that can create economic value from greenhouse gas emission reductions.

    The maritime industry’s greenhouse gas reductions should be in line with the temperature goals of the Paris Agreement. This will require absolute reductions in carbon emissions to accommodate the expected growth in global trade. Research from LR and University Maritime Advisory Services indicates that there is no time to waste.

    “An ambitious strategy consistent with the Paris Agreement temperature goals will require zero emission vessels to be entering the fleet in 2030 and form a significant proportion of newbuilds from then on. Different solutions have different benefits for different types of ships, it is important that solutions are not only viable from a commercial perspective but are also technically feasible and can be safely adopted and operated,” says Alastair Marsh, LR CEO.

    Tristan Smith, Reader in Energy and Shipping at University College London says: “Decarbonisation of shipping means a new fuel supply chain in the medium-long term, and likely new infrastructure and onboard equipment. Current evidence is that, if properly aligned with the wider global shift to renewable energy, this should be achievable with negligible long-term impact for many end consumers and global trade. But it will need patience, cooperation and collaboration between many different stakeholders for this to happen.”

    The initial greenhouse gas strategy adopted by member states of the IMO in April 2018 constitutes a crucial step on the long road towards climate-friendly seaborne trade. It has the full support of the signature CEO’s. They stress that legally binding, enforceable actions set by the IMO must be enforced by member countries to compel the industry to shift and they are committed to work together with the IMO to make the strategy a success.

    “In 2018, the IMO took a leap forward by announcing the ambitious goal to reduce industry emissions by 50% by 2050. Today we welcome this public commitment to decarbonisation by industry leadership. It is now essential that industry CEOs support that ambitious commitment and follow through with actions that align their organisations with science-based decarbonisation targets," says Jules Kortenhorst, CEO of Rocky Mountain Institute.

    This is confirmed by Paddy Rodgers, CEO Euronav: “Shipping has so far been exempt from regulations to address the issues around GHG emissions from fuels for ships but the IMO has, after consultation laid a pathway, which requires a fundamental change in the way we fuel our ships. Shipping must embrace these targets so let’s take our responsibility to make sure our industry is heading towards a sustainable future for ourselves and the next generations in line with the expectations of our global stakeholders.

    Jan Dieleman, President of Cargill Ocean Transportation agrees: “The International Maritime Organization has successfully aligned the global maritime industry with the climate change targets set in the Paris Accord. The shipping sector clearly shares a collective responsibility to transform its operations, build new technologies and infrastructure, and make sustainable shipping a reality. The industry is embracing the challenge and working side-by-side to drive progress and find solutions.”

    The CEOs urge their peers to join them in seizing the opportunity to innovate and lead the transition to a new shipping industry for the 21st century.
    “Today we urge our peers from the entire maritime value chain to support decarbonisation and work with us to deliver the IMO’s strategic goal of reducing GHG emissions. We encourage all of our customers and suppliers to demonstrate leadership through timely and appropriate action,” says Paul Wogan, CEO of GasLog Ltd.

    The call to action in support of decarbonisation is already being followed up by concrete action. The Global Maritime Forum is working together with financial institutions, shipowners, Rocky Mountain Institute, and University College London, on a set of principles for the inclusion of climate alignment and climate risk considerations in lending decisions.

    The CEOs recommend that core principles of the “Roadmap” for transition to a new zero-emission future be:
     Ambitious: The Strategy should be consistently in line with the Paris agreement’s temperature goals.
     Predictable: Regulations should provide long-term certainty for financiers, builders, owners and charterers to make the required investments in low-carbon technologies.
     Market-oriented: Emissions reduction objectives should be met at the lowest possible cost, and the industry should explore the use of carbon pricing and other mechanisms that can create economic value from GHG emission reductions.
     Technology-enabling: The Strategy should accelerate the use of low-carbon technologies and fuels by encouraging significant funding flows for research and development.
     Urgent: Certain mid- and long-term measures will require work to commence prior to 2023, including the development of zero-emission fuels to enable implementation of decarbonisation solutions by 2030.
     Coherent: Solutions implemented should build on and reinforce existing technical, operational, and energy efficiency measures whilst maintaining or enhancing safety standards. In this context it is critical that all IMO environmental regulations be compatible with future 2050 regulations.
     Enforceable: Legally binding, enforceable actions set by the IMO and enforced by member countries are required to compel the industry to shift.

    The initial signatory CEOs are listed below. This group will continue to grow.
     P. Moller – Maersk, Claus Hemmingsen, Vice CEO
     Amsterdam Trade Bank, Harris Antoniou, Chief Executive Officer
     Anglo Eastern, Jan Bjorn Hojgaard, Chief Executive Officer
     Caravel Group, Harry Banga, Chairman and Chief Executive Officer
     Carbon Pricing Leadership Coalition, Angela Churie Kallhauge, Head
     Cargill Ocean Tranportation, Jan Dieleman, President
     Danish Ship Finance, Erik I. Lassen, Chief Executive Officer
     Dorian LPG, John Hadjipateras, Chairman and Chief Executive Officer
     DS Norden, Jan Rindbo, Chief Executive Officer
     Environmental Defense Fund, Bryony Worthington, Executive Director
     Euronav, Patrick Rodgers, Chief Executive Officer
     Fairmont Shipping Ltd., Robert Alexander Ho, Chairman
     Gaslog, Paul Wogan, Chairman and Member of the Board of Directors
     Hempel, Henrik Andersen, Chief Executive Officer
     IRISL - Islamic Republic of Iran Shipping Lines, Mohammad Saeidi, Chairman and Managing Director
     KC Maritime HK Ltd., Vikrant Bhatia, Chief Executive Officer
     LADOL, Amy Jadesimi, Managing Director
     Liberian Registry, Scott Bergeron, Chief Executive Officer
     Lloyd's Register, Alastair Marsh, CEO
     Marine Capital Limited, Tony Foster, Chief Executive Officer
     MISC, Yee Yang Chien, President and Group Chief Executive Officer
     Maritime Strategies International Ltd., Adam Kent, Managing Director
     Ocean Network Express Pte., Jeremy Nixon, Chief Executive Officer
     Pacific Basin, Mats Berglund, Chief Executive Officer
     Precious Shipping, Khalid Hashim, Managing Director
     Rocky Mountain Institute, Jules Kortenhorst, Chief Executive Officer
     Royal Arctic Line A/S, Verner Hammeken, Chief Executive Officer
     SKULD, Ståle Hansen, President and Chief Executive Officer
     The North American Marine Environment Protection Association (NAMEPA), Carleen Lyden Walker, Co-Founder/Executive Director
     SEACOR Holdings Inc., Charles Fabrikant, Chairman and CEO
     The Ocean Council, Paul Holthus, Founding President and CEO
     Trafigura, Jeremy Weir, Chief Executive Officer
     University College London, Tristan Smith, Reader in Energy and Shipping
     Group, Ian El-Mokadem, Chief Executive Officer




2019 October 21

18:25 Navios Acquisition announces $15 mln offering of common stock
18:02 Temasek subsidiary plans to acquire 30.55% of shares in Keppel
17:50 Two LNG-powered Sovcomflot tankers successfully completed voyages along Northern Sea Route
17:36 Anglo-Eastern signs Cyber MOU with Naval Dome
17:13 Guard ship "Yaroslav Mudry" of RF Navy’s Baltic Fleet made business call in Limassol
17:05 Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live
17:02 Castor Maritime announces vessel acquisition
16:40 Yaroslavsky shipyard launches diving ship '75 Let Pobedy’ built for Transneft UW Service
16:21 Ministerial Conference pushes ratification of Cape Town Agreement
16:16 ACO Marine secures order to design and manufacture a Clarimar MF-3 biological wastewater management system for installation to the luxury yacht
16:09 ABB to bring autonomous technology to the Port of Singapore
16:02 Hunter Group ASA announces delivery of Hunter Saga
15:39 TransContainer reports 9M’19 net profit of RUB 10.426 million, up 68.3% YoY
15:02 Epic Gas completes major refinancing of twenty ships
14:47 Port of Baku becomes first Green Port in Caspian region
14:13 Sulphur 2020: stakeholders prepare for a sea change from 1 January 2020
13:52 USPA starts accepting applications for participation in concession tender of “Olvia Stevedoring Company”
13:34 ABP is ‘calling on all UK technology companies’ to drive innovation
13:13 Innovative vessels visit port of Brussels
12:39 Ports of Antwerp and Zeebrugge initiate merger negotiations
12:12 Aker Solutions and EDP Renewables to develop floating wind farm in Ulsan, South Korea
11:55 Port of Singapore throughput in Jan-Sep’2019 declined by 0.5% to 467.9 million tonnes
11:36 Port of Rotterdam posts Q3 2019 results
11:19 Container throughput of port Hong Kong (China) down 6.5% to 13.68 million TEUs in Jan-Sep’2019
11:00 CMA CGM launches SHIPFIN TRADE FINANCE, its new range of import and export financing solutions
10:48 Port of Helsinki volumes in January-September down 3.3% to 11.16 million tonnes
10:33 Damen partners with Maris to consider seaweed solution
09:51 One-stop principle is crucial for yachting development in Russia - Igor Levitin
09:30 Brent Crude futures price is down 0.29% to $59.25, Light Sweet Crude – fell by 0.13% to $53.8
09:24 MABUX: Bunker market this morning, Oct 21
09:12 Baltic Dry Index is down to 1,855 points

2019 October 20

16:05 EDPR and Aker Solutions to develop 500MW floating wind farm in Ulsan, South Korea
15:25 Coast Guard updates port conditions in Gulf Coast region
14:47 Siemens Gamesa bags three new contracts for 359 MW in Chile
13:41 Fincantieri begins project for stretching three small cruise ships of Windstar
12:34 MSC introduces new Spanish rail service for reefer cargo
11:03 USCG, Mexican Navy search for overdue aircraft in Gulf of Mexico
10:12 DOE authorizes LNG exports from the Venture Global Plaquemines LNG Project

2019 October 19

16:12 Bibby Marine appoints Helen Samuels to lead the company into its next phase of development
14:58 Med Marine is building new concept ice class tugs for Svitzer
12:34 Sohar Port & Freezone inaugurate new Svitzer pilot boat duo
11:44 USCG offloads more than $92 million worth of cocaine in San Diego
10:49 Singapore company slapped with NOK 7 million fine in the Harrier case

2019 October 18

19:19 New port icebreaker named Ob delivered to FSUE Atomflot
18:54 Port Kolomna hosted ceremony of consecration for pusher tug named Sergey Kladko
18:31 RF Ministry of Transport to expand area banned for navigation near Crimea bridge
18:12 Northwest Seaport Alliance’s Clean Truck Program earns AAPA environmental award
17:57 NUTEP Container Terminal handled three millionth TEU since its operations started in 2004
17:38 Expert RA affirms its ‘ruA’ non-financial company credit rating on DeloPorts
17:13 Port of Virginia buys 25 new hybrid shuttle carriers
17:00 First grain shipment via Sabetta port expected in July 2020 – RF Ministry of Agriculture
16:46 Onezhsky Shipyard delivers buoy tender of Project 3265 named Ladozhsky
16:20 ERMA FIRST invests in METIS Cyberspace Technology
15:45 International organizations unite at IMO
15:14 "K" LINE, MOL, & NYK share data with ONE through the common data platform "IoS-OP"
14:49 Main engines loaded onto lead ship of PV22 project at Nevsky Shipyard
14:12 ESPO publishes European port sector’s Environmental Report 2019
13:53 Blagoveshchensk shipyard resumed construction of modernized seiners of Project 1338
13:32 Total launches its first LNG bunker vessel
13:12 SBM Offshore successful bidder for partner’s minority ownership in SBM Offshore operated FPSO companies