• 2024 April 19 12:41

    The Port of Los Angeles and the Port of Long Beach complete a comprehensive Green and Digital Shipping Corridor study

    One year after the signing of the memorandum of understanding to establish a Green and Digital Shipping Corridor, the Maritime and Port Authority of Singapore (MPA), Port of Los Angeles and Port of Long Beach have completed a comprehensive baselining study. It forecasts more green jobs, health improvements for local communities and economic benefits for participating countries, emphasizing the future demand for zero- and near-zero emission fuels and the benefits from decarbonizing the shipping routes between the nations.

    The study, commissioned by C40 Cities and the ports, and conducted by the American Bureau of Shipping, analyzed maritime trade flows between Singapore, Los Angeles and Long Beach, and provided a baseline of activities and energy demand requirements for vessels operating on the corridor through to 2050. 

    The conclusion of the study follows the successful unveiling of the corridor’s Partnership Strategy at the 28th United Nations Climate Change Conference in December 2023, which outlined the corridor’s goals, partnership structure and governance mechanism. The study estimates the quantity of near-zero and zero-emission fuels required for this traffic by modelling the adoption of zero and near-zero carbon alternative fuels by vessels operating on the corridor through to 2050, considering various parameters such as fuel production costs and fuel availability, and in view of the targets in the 2023 International Maritime Organization’s Strategy on Reduction of Greenhouse Gas Emissions from Ships.

    On a practical level, the study highlights the potential socioeconomic impact of transitioning to zero- and near-zero emission fuels and leveraging on digital solutions. Based on the study’s estimates, the corridor at full implementation could create over 700 new job opportunities in zero- and near-zero emission fuel production and improve local air quality. These estimates support findings by C40 and other organizations that activities undertaken through green shipping corridors can accelerate wider decarbonization across the maritime industry and unlock health benefits for local communities and green economy opportunities for participating countries.

    As leading global ports, Singapore, Los Angeles and Long Beach are vital nodes on the trans-Pacific shipping lane and are key stakeholders in the maritime sector’s green and digital transition. Alongside 20 leading ports and port cities, MPA, POLA, and POLB are members of C40's Green Ports Forum, a prominent global platform for collaborative climate action that actively champions ambitious green shipping corridors, acknowledging their central role in the ports and shipping sectors’ green transition.

    The corridor partners underscore their dedication to a data-driven decision-making approach through the study, utilizing its insights to guide their actions in pursuing the partnership's decarbonization objectives and aligning with the related goals of the shipping sector. Key findings of the study include:
     
    Vessels operating on the corridor represent 7% of the world’s container trade, which is about 1% of Singapore's, 14.5% of Port of Long Beach’s, and 20% of Port of Los Angeles’ traffic.

    The projected annual energy demand of vessels on the corridor is estimated to be approximately 60,000 terajoules, equivalent to approximately two months of Singapore’s national electricity generation.

    Shipping demand on the corridor is estimated to be around 850,000 tons of methanol and 160,000 tons of ammonia annually by 2030, displacing the equivalent greenhouse gas emissions from almost 320,000 cars annually.

    The transition to zero- and near-zero emission fuels could potentially create approximately 700 jobs in the production and supply chain of such fuels by 2030.

    The partnership convened the first in-person stakeholder meeting of the corridor together with industry value-chain representatives, as a prelude to onboarding stakeholders to the corridor. The meeting was held during Singapore Maritime Week 2024 on April 18.

    MPA was established on Feb. 2, 1996 with the mission to develop Singapore as a premier global hub port and international maritime center, and to advance and safeguard Singapore’s strategic maritime interests. MPA is the driving force behind Singapore’s port and maritime development, taking on the roles of port authority, maritime and port regulator and planner, international maritime center champion, national maritime representative and a champion of digitalization and decarbonization efforts at regional and international fora such as at the International Maritime Organization. MPA partners industry, research community and other agencies to enhance safety, security and environmental protection in our waters, facilitate maritime and port operations and growth, expand the cluster of maritime ancillary services, and develops maritime digitalization and decarbonization policies and plans, R&D and manpower development. MPA is responsible for the overall development and growth of the maritime domain and Port of Singapore. In 2023, Singapore’s annual vessel arrival tonnage crossed 3 billion gross tonnage and remains the world’s busiest transshipment hub, with a total container throughput of 39.0 million twenty-foot equivalent units.

    The Port of Long Beach is a global leader in operational excellence and top-notch customer service, moving cargo with reliability, speed and efficiency. As the premier U.S. gateway for trans-Pacific trade, the Port handles trade valued at $200 billion annually and supports 2.6 million trade-related jobs across the United States, including 575,000 in Southern California and 1 in 5 jobs in Long Beach. In 2023, industry leaders named it “The Best West Coast Seaport in North America” for the fifth consecutive year. In 2023, the Port handled 8 million twenty-foot equivalent units. In the next 10 years, the Port is planning $2.2 billion in capital improvements aimed at enhancing capacity, competitiveness and sustainability.

    The Port of Los Angeles is North America’s leading trade gateway and has ranked as the No. 1 container port in the United States for 24 consecutive years. In 2023, the Port generated $292 billion in trade and handled a total of 8.6 million container units, sustaining its top rank among U.S. ports. The Port remains focused on community investment, commitment to sustainability and environmental leadership, workforce development, and infrastructure improvement. San Pedro Bay port complex operations and commerce facilitate one in nine jobs across the Southern California counties of Los Angeles, Orange, Riverside, San Bernardino, and Ventura.

    C40 is a network of nearly 100 mayors of the world’s leading cities working to deliver the urgent action needed right now to confront the climate crisis and create a future where everyone, everywhere can thrive. Mayors of C40 cities are committed to using a science-based and people-focused approach to help the world limit global heating to 1.5 degrees Celsius and build healthy, equitable and resilient communities.




2024 May 21

15:40 New Times Shipbuilding launches LNG dual-fuel bulker for Eastern Pacific Shipping
15:24 New container service to connect the Chinese port of Qingdao with Mexico
14:52 Astrakhan SRZ launches the Project 22870 Rescue Tug Mikhail Chekov
14:47 TFG Marine’s dual-fuel bunker vessel wraps up first refueling in Singapore
14:12 New Zealand’s Kotahi and Maersk sign a second long term freight agreement to December 2034
13:24 TotalEnergies launches the Kaminho deepwater project in Angola
12:04 Headway Methanol Fuel Supply System supports the successful FAT of China's first methanol dual-fuel low-speed engine
11:17 Alfa Laval receives over 100 orders for its low-flashpoint fuel supply system FCM Methanol
10:45 Port of Los Angeles container volume increases 12% to 770,337 TEU in April 2024

2024 May 20

18:00 ADNOC secures equity position and LNG offtake agreement in NextDecades Rio Grande LNG Project
17:31 EDGE Group and Fincantieri formalise MAESTRAL shipbuilding JV and announce 400 mln euro order for 10 naval vessels
17:02 Genevos awarded European Commission funding for hydrogen fishing vessel demonstrator in ‘H2-SEAS’ consortium
16:43 MAI to invest in ship investment fund managed by Navigare Capital Partners
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15:58 IndustriAll Europe and SEA Europe agree on joint priorities ahead of the 2024 EU elections
14:51 Fincantieri shipyard launches Logistic Support Ship ‘Atlante’ for the Italian Navy's fleet
13:24 MOL Cruises announces the six inaugural cruises of MITSUI OCEAN FUJI
12:21 Deltamarin designs CO2 carrier of Ecolog
11:50 Tsakos Energy Navigation plans to invest $2 billion to create a 100% green fleet by 2030
11:23 Horizon Tankers order six newbuilds in China
10:55 Turkish-owned cargo ship sinks off Romania
10:15 Serica Energy receives final approval from the NSTA to develop the 100% owned and operated Belinda field

2024 May 19

15:43 RWE, Masdar award geophysical surveys contract for DBS West offshore wind farm
14:27 Intesa Sanpaolo and Fincantieri for the energy transition of maritime and air transport
14:03 MSC Cruises to expand at Port Canaveral with the arrival of the MSC Grandiosa
13:56 Noatum launches maritime services in Türkiye
12:44 New Pipeline Transition Alliance to focus on re-purposing natural gas infrastructure to hydrogen service
11:29 Yantai CIMC Raffles Offshore Ltd. shipyard launches dual-fuel offshore installation vessel for Van Oord
11:23 Major Scottish export terminal invests £750,000 to boost refrigerated cargo capabilities
10:12 Jan De Nul orders new XL cable-laying vessel

2024 May 18

15:24 SNAM's Q1 total revenues declined 1.9% to 895 million euros
14:17 KOTUG Int'l successfully pilots Tug Drone technology
12:04 Austal USA names Mark Santamaria as CFO
11:36 Silver Ships delivers four of seven coastal fast response boats
09:51 CMA CGM posts revenue of 11.8 billion for Q1 2024

2024 May 17

18:10 Bunker fuel sales at the Middle Eastern hub of Fujairah drop on a monthly basis in April 2024
17:52 Lloyd’s Register and Shandong Marine Group sign MoU
16:43 China reveals cooperation methods to protect and restore the Yangtze River
16:03 APM Terminals Barcelona holds the commissioning of 17 Konecranes NSC 644 EHY hybrid straddle carriers
15:13 Marine fuel demand in Panama declined in April 2024
14:43 MITSUI E&S and PACECO commence commercial operations of world's first hydrogen fuel cell zero emission RTG crane at Port of Los Angeles
14:23 ILWU Canada agrees to delay serving 72-hour strike notice on employer DP World Canada
13:31 Barge hits a bridge in Texas, damaging the structure and causing an oil spill
13:10 Container shipping costs on EU-S. Korea route surge over 30 pct amid Red Sea crisis
12:43 DP World invests €130m in Romania
12:21 Astrakhan hosts Russia-Iran talks on shipping cooperation on International North-South corridor
11:41 Seatrium awarded repeat FPSO integration contract from SBM Offshore
11:04 Bureau Veritas report highlights the potential of carbon capture technologies and the development of carbon value chains for shipping
10:41 Electramar christened in Helsinki
10:07 IMO Secretary-General spotlights seafarer safety amidst ongoing Red Sea attacks and resurging piracy
09:58 MABUX: Bunker Outlook, Week 20, 2024

2024 May 16

18:11 Kongsberg and Torghatten to develop self-driving ferry service linking Trondheim and the Fosen peninsula
17:42 “K” Line сonducts first trial use of B100 biofuel for carbon-free operations on car carrier
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15:40 Seadrill enters agreement to sell its Qatar jack-up fleet
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14:48 Edison Chouest feeder fleet for U.S. offshore wind market to be built to ABS Class
14:03 The Australian Government announces a funding package of $7.1 billion for budgeted programs to be administered by ARENA
13:54 The share of the idle container vessel fleet was 0.9% in April - Sea-Intelligence
13:25 The European Commission grants PCI status to CO2 value chain project developed by MOL with partners
12:14 HHLA's revenue decreased by 0.3 percent to € 363.6 millions in Q1 2024
11:42 MOL and TotalEnergies sign time charter contracts for 2 newbuilding LPG-fueled LPG carriers
10:40 Kalmar and Uniport Livorno agree on new terminal tractor order to enhance reliability, safety and service quality at Italian terminal
10:04 AMSA collaborates on a trial providing more recycling options for visiting foreign ships
09:59 SunGas Renewables and C2X announce strategic partnership

2024 May 15

18:07 MOL holds naming ceremony for newbuilding LNG carrier Greenergy Ocean to serve China National Offshore Oil Corporation
17:30 ClassNK and StormGeo mark significant collaboration to advance maritime decarbonization
17:02 Newly certified methanol valves to improve dual-fuel shipbuilding
16:45 HD KSOE to lease Subic shipyard in Philippines
16:25 Eidsvaag receives two forage carrier vessels designed and equipped by Kongsberg Maritime