• 2021 June 14 13:19

    Genco to jointly study ammonia as an alternative marine fuel

    Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), today announced that it has entered into an initial framework to jointly study the feasibility of ammonia as an alternative marine fuel as part of the objective to decarbonize the global shipping industry in-line with the targets established by the International Maritime Organization (“IMO”).

    Including Genco, a total of 23 companies to date have elected to participate in the study ranging from miners, shipbuilders, shipowners, class societies and power utility companies among others.

    The IMO adopted a strategy for the reduction of greenhouse gas (“GHG”) emissions within the maritime industry which established targets to reduce CO2 emissions per transport work, as an average across international shipping, by at least 40% by 2030 (compared to 2008 levels), to reduce GHG emissions by 50% by 2050, and to phase them out entirely (zero-emissions) during this century. In order to achieve these goals, the early adoption of ammonia as a suitable zero emission, alternative marine fuel is one of the key elements.

    John C. Wobensmith, Chief Executive Officer, commented, “Taking steps to decarbonize our essential industry is a critical objective for Genco, and we are pleased to have entered into this joint study together with various blue chip, multi-national companies throughout the maritime supply chain. While there remains quite a bit of work to be done, not only on the development of ammonia fueled vessels but also on the build out of bunkering infrastructure, this joint study is an important and much needed step for the industry. Genco maintains a long-term commitment to reducing emissions and operating our fleet in an environmentally efficient and sustainable manner, and we are proud to participate in this meaningful study.”

    About Genco Shipping & Trading Limited

    Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Capesize vessels represent our major bulk vessel category and the other vessel classes, including Ultramax and Supramax vessels, represent our minor bulk vessel category.  Our major bulk vessels are primarily used to transport iron ore and coal, while our minor bulk vessels are primarily used to transport grains, steel products and other drybulk cargoes such as cement, scrap, fertilizer, bauxite, nickel ore, salt and sugar. This approach of owning ships that transport both major and minor bulk commodities provide us with exposure to a wide range of drybulk trade flows. As of June 11, 2021, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, nine Ultramax and 14 Supramax vessels with an aggregate capacity of approximately 4,368,000 dwt and an average age of 10.3 years.




2021 July 27

11:44 FESCO performs its first intermodal shipment of containers with shoes from China to Krasnodar via CPV
11:26 MSC, Fincantieri and Snam to partner for world’s first oceangoing hydrogen-powered cruise ship
11:10 Yang Ming takes delivery of one more 11,000 TEU ship to upgrade Trans-Pacific service
10:45 The President of the European Council Charles Michel was briefed on the capabilities of the Port of Baku
10:39 Damen Marine Components awarded contract to provide rudders and steering gear for Navantia
10:23 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
09:59 CMA CGM to launch a new RORO Short Sea Med service connecting Marseille & Barcelona with Casablanca
09:51 LNG terminal to be built on Sakhalin by the end of 2023
09:32 Baltic Dry Index as of July 26
09:16 Crude oil market seed upward price correction

2021 July 26

18:04 IPCSA ‘honoured’ to join the World Customs Organization’s Private Sector Consultative Group
17:57 M. Skuodis: expansion of the southern part of the Port of Klaipėda has potential to attract new cargo and investments
17:35 Sri Lanka Ports Authority with ILO support commences training for seafarers
17:14 Vitol Bunkers adds first offshore location to its USGC and Caribbean supply offering
16:20 Operation on delivery of 111-meter long column for Amur GCC is underway
16:03 Mobile harbour crane investment to further improve cargo handling efficiency at Port of Newcastle
15:13 TotalEnergies signs renewable power purchase agreement with Air Liquide
14:59 RF Government suggests establishing free customs area on Kuril Islands
14:34 The COVID 19 has strong impact on the port of Helsinki
13:44 DP World and Rosatom sign agreement for Northern Transit Corridor
13:36 FSUE Atomflot and Murmansk Marine Biological Institute sign cooperation agreement
12:57 Average spot market price for Russian M100 product fell to RUB 24,400 pmt
12:38 Onezhsky Shipyard lays down fourth serial crab catching ship for Russian Crab Group
12:05 Mitsubishi Shipbuilding launches ceremony for the first of two large multi-role response vessels being built to order for the Department of Transportation in the Republic of the Philippines
11:59 Saint-Petersburg and Kronshtadt hosted Russia's Main Naval Parade on RF Navy Day
11:04 Port of Antwerp implements a Yard Opening Time scheme for all containers
10:40 Wharf One ready for new business at Port of Mackay
10:10 Admiralteyskie Verfi shipyard launches CT-192 series trawler named Mekhanik Sizov
09:58 Huntington Ingalls Industries authenticates the keel of Legend-class national security cutter Calhoun
09:35 Crude oil prices go down due to coronavirus risks
09:17 Baltic Dry Index as of July 23
09:08 Ascenz, the Singapore-based GTT Smart Shipping Company, launches an innovative solution to improve the bunkering process
08:31 Grimaldi extends to Zeebrugge its freight link between Belgium and Ireland
07:56 Sembcorp Marine delivers three wellhead and riser topsides and bridges to TotalEnergies EP Denmark

2021 July 25

14:58 USCG, partners medevac mariners off Kauai
14:51 WinGD first to deliver space-saving on-engine NOx aftertreatment
13:51 Tackling the fuel conversion conundrum
12:37 Panama renews maritime transport agreement with China
11:39 ABP Southampton appoints Head of Property
10:54 Agreement on Elbe River navigability signed

2021 July 24

15:02 Union Pacific reports 2Q 2021 results
13:29 Major £10M project aims to unlock untapped potential of ocean renewable energy fuels
12:37 LR: Turning to technology to tackle container ship fires
11:14 Survitec enhances lifeboat inspection solution to deliver savings and flexibility for ship operators

2021 July 23

18:27 EBRD and Ukraine boost low-carbon hydrogen development
18:03 ROSATOM and GDK Baimskaya LLC sign agreement to jointly supply energy to Baimsky plant
17:58 Van Oord signs contract with the Spanish energy company Iberdrola for the Baltic Eagle offshore wind farm
17:50 Chantiers de l’Atlantique completes installation of EGCS on three MSC Cruises vessels
17:41 ROSATOM and Aeon Corporation agree to Arctic shipping cooperation
17:32 RWE, Shell, Gasunie and Equinor sign a declaration of intent on the AquaSector project
17:18 Rosatom and DP World sign Cooperation Agreement
16:55 RosGeo eyes exploration of solid mineral deposits in the Persian Gulf
16:32 Learn the latest global LNG trends with LNGcon 2022
16:30 ROSATOM and Moscow State University’s Marine Research Centre sign cooperation agreement on environmental impact assessment in Arctic
16:07 Rosatom expects transit cargo flow along NSR to reach 20-30 million tonnes per year by 2030
15:39 ROSATOM and Nornickel sign supplementary agreement on icebreaker accompaniment
15:01 Sea Port of Saint-Petersburg handled 4.1 million tonnes of cargo in H1’21, up 12% YoY
14:36 Recovery of investments in offshore geological exploration not expected by RosGeo before 2022
14:14 Wärtsilä to provide thrusters for two Chinese wind farm turbine installation vessels
13:40 RosGeo: Deposits in shallow waters and estuaries should be taken into account when developing Arctic resources