Fortnightly maritime news for the industry and PortXL community.
The shipping and energy sectors will need to spend at least $1 trillion to meet a target of substantially cutting carbon dioxide emissions from ships by 2050, according to a new study. University Maritime Advisory Services, a consulting firm affiliated with University College London, and the Getting to Zero Coalition, a partnership between the industry-funded Global Maritime Forum and the World Economic Forum, said an average of at least $50 billion a year will be needed from 2030 to 2050 to reach the IMO’s goal of reducing carbon emissions by half from 2008 levels.
Recently, the official launch of Invest-NL took place in Amsterdam in the presence of Minister of Finance Wopke Hoekstra and Minister of Economic Affairs and Climate Eric Wiebes. Notably, the Invest-NL will provide funding to companies that deals with sustainability and innovation in the Netherlands. With €1.7 billion, this private company is intends to focus particularly on electrification & energy, circularity, agrifood, and more. In terms of innovative scaleups, the focus will primarily be on industrial technologies.
Transparency is often heralded as one of the chief benefits of digitalisation. Being able to root out corruption, improve the customer experience, help make decisions faster, save money, optimise processes, increase sustainability – how could it not be a good thing?
With the assistance of the corporate innovation company Rainmaking, five large corporations with significant presence in the maritime industry have partnered with eight promising startups. Together, these firms – Cargotec, HHLA, Inmarsat, Shell and Wärtsilä – are working on 13 separate projects aimed at accelerating innovation and improving the bottom line.
The new decade has begun and with it, the shipping industry is preparing for some changes such as the IMO sulphur cap, increasing trade volumes, new shipping routes opening up due to the ice-free Arctic region and so on. These changes influence every player in the container logistics industry such as container traders, shippers, and tech platforms like us. We talked to industry experts to give us their predictions on how they see this year playing out and what are the trends we should watch out for.
This is also driving a shift that leads to a place where the answer to every business decision is not simply profit. And that perhaps changes a bit in the market and I think in the perspective, and that also opens up to say, “Okay, how do I want to work in a customer-vendor relationship and how do we want to produce as a company? Do we just want to look at profit or do we also want to look at what are the consequences of our actions – good and bad.”
H-Vision, a Rotterdam-based project for large-scale production and application of low carbon hydrogen for industrial energy supplies, is on track to begin the next development phase in June. The main focus for the next stage of the project will be the design of the installations for large-scale production of hydrogen for the petrochemical industry and energy sector.
CMB has offset all its CO2 emissions in order to have net zero CO2 emissions as from 2020. CMB has done this by supporting certified climate projects in developing countries and acquiring high quality Voluntary Carbon Units (VCU’s) in Zambia (agro-forestry, SALM, REDD+), Guatemala (REDD+) and India (wind and solar parks).
Germany took first place in the 2020 Bloomberg Innovation Index, breaking South Korea’s six-year winning streak, while the U.S. fell one notch to No. 9. Singapore’s leap into the third-place ranking returns it to its post from two years ago.
Leading the round is Mosaic Ventures, with participation from Crane Venture Partners, Y Combinator and other existing investors. Shipamax says it will use the funding to double in size over the months ahead, investing both in engineering development and customer success.
The New Zealand capital of Wellington is on track to become the first city in the Southern Hemisphere to boast its own locally-designed and made zero-emissions electric ferry. Not content with their country proposing a Clean Car bill and becoming one of the first countries worldwide to enshrine a commitment to meet the goals of the Paris Agreement in a carbon bill, a team of Wellington boat builders are now focussed on bringing carbon-free transport to the water by mid-2020.