Fortnightly maritime news for the industry and PortXL community
The Intergovernmental Panel on Climate Change (IPCC) released a report yesterday warning that over the next 20 years, global temperatures are expected to reach or exceed 1.5°C of warming – meaning we can anticipate increasing heat waves, longer warm seasons, and intensifying rain and floods. Placed high up in the firing line of the influential report is the harmful effects methane is having on the planet, something that ought to make the many shipowners who have opted for LNG-fuelled newbuilds shudder.
Europe’s largest port is involved in a study that looks at shipping hydrogen using existing infrastructure. Port of Rotterdam Authority, Koole Terminals, Chiyoda Corporation and Mitsubishi Corporation have signed an agreement on a joint study on the feasibility of a commercial-scale import of hydrogen from overseas sources to one of Koole’s terminals in the port of Rotterdam utilising Chiyoda’s proven hydrogen storage and transportation technology called SPERA Hydrogen.
Enterprize Energy has signed an agreement with the Brazilian state of Rio Grande do Norte to identify and develop opportunities for offshore wind, green hydrogen, and green ammonia projects off the country’s northern coastline.
Ofload is working to transform the Australian road freight industry. Formerly known as Loadsmile, Ofload is a digital platform for road freight striving to achieve zero waste in trucking by empowering the long tail of small to medium-sized carriers through technology. Its platform connects shippers with carriers. Ofload matches fleet and route coverage with appropriate loads, enabling more orders and less empty backloads.
Vestas has downgraded its financial projections for the second half of 2021 to an overall EBIT margin before special items of 5-7%, down from 6-8%. The change is due to a combination of supply chain constraints, cost inflation, and restrictions in key markets caused by COVID-19, and the impacts this is likely to continue to have in the second half of the year.
The Baltic Exchange has moved to provide a hugely valuable missing link that shipping will need on its path towards decarbonisation. The London institution has calculated a set of indicative CO2 emissions figures and Energy Efficiency Operating Indicator (EEOI) reference values. Initially these cover the standard Baltic vessels trading on the various dry bulk routes. With new International Maritime Organization rules on energy efficiency coming in over the next couple of years, shipping – or at least the dry bulk sector – will now have access to a market-based benchmark using real emission data instead of theoretical models as a vital compliance tool.
A subsidiary of Mitsui OSK Lines (MOL), Phoenix Tankers, has ordered a revolutionary very large gas carrier (VLGC) that pushes the design envelope for gas transportation. The design created by Mitsubishi Shipbuilding and fellow Japanese yard Namura Shipbuilding is for an LPG-powered 87,000 dwt VLGC that is capable of shipping either LPG or ammonia. Namura will build the first ship with MOL having an option for a second vessel. The ship will be the largest ammonia carrier ever built and will use LPG in the cargo hold as fuel with a view to converting the ship to ammonia fuel at a later stage.