Fortnightly maritime news for the industry and PortXL community
The Dutch government will be setting aside €2.1bn ($2.56bn) in grant money for Porthos’ four customers, Air Liquide, Air Products, ExxonMobil and Shell, bringing the realisation of CO2 capture and storage in Rotterdam another step closer. Port of Rotterdam CO2 Transport Hub and Offshore Storage (Porthos) is a joint venture between the Port of Rotterdam Authority, Gasunie and EBN. The project is on schedule to store an annual amount of 2.5m tonnes of CO2 from the industry in empty gas fields beneath the North Sea from 2024.
Shell will seek ways to reduce emissions even further following a landmark judgment issued by the district court in The Hague that the Anglo-Dutch supermajor must reduce its net carbon emissions by 45% by 2030, compared to its 2019 level. Shell’s CEO Ben van Beurden said the company is determined to rise to the challenge, and that this ruling does not mean a change, but rather an acceleration of its strategy.
The Polish intermodal operator, Loconi, and the container-train operator, Baltic Rail, have launched a new service connecting Gdynia and Koper, named Baltic-Adriatic Land Bridge. Loconi, which operates five container trains weekly between Gdynia and Wrocław, and Baltic Rail, which runs three to five trains weekly between Wrocław and Koper, decided to offer a combined intermodal service between the two European hubs; With a single ticket, it will be possible for containers to travel between Gdynia, Wroclaw and Koper, transloading between trains included within the service.
Methanol has the advantage of a liquid state and ability to repurpose existing infrastructure to include engines and vessels with efficient retrofits, writes ABS director of sustainability strategy, Singapore Panos Koutsourakis.
A group of industry experts discuss technologies and fuels for future-proofing offshore vessels, while addressing the potential to repurpose existing vessels through innovative conversions.
Another well known Singapore shipowner is getting into the startups game. The Tsao family’s IMC Group has launched a corporate venture capital arm, IMC Ventures, to invest in pre-Series A and Series B startups with a focus on environmental sustainability and social impact. IMC has allocated $15m to the fund, half of which will be deployed to Singapore startups, 20% to startups in other parts of Southeast Asia, 15% to European firms and 15% to American companies.
How will the energy transition change the shipping business? What are the new rules that will determine the commercial viability of ship operations in future? How can existing vessels be adapted at minimal cost to reduce greenhouse gas emissions? And which alternative fuel is most commercially viable to meet the need for decarbonisation?