ShippingWatch’s Post

🚢 Ince & Co Middle East will be participating in The Maritime Standard Tanker Conference 2023 today. Join Partner Natalie Jensen, Managing Associate Mehtab Kassam, Associate Emma James, and Paralegals Omar Kharouf and Reem Sharif at the iconic Atlantis, The Palm. The 2023 TMS Tanker Conference has a compelling theme: "Net zero – tanker shipping setting the global decarbonisation agenda." This theme underscores the importance of the shipping industry's ongoing efforts to reduce its environmental impact, with a special focus on the tanker sector. The presentations and panel sessions will delve into the challenges and opportunities posed by stringent environmental regulations, exploring the development of alternative fuels such as LNG, methanol, ammonia, and wind power. At Ince & Co Middle East, we understand the importance of supporting our clients and the industry in managing their environmental footprint, and we are committed to staying at the forefront of regulatory changes to better advise clients on related issues. Reach out to our team to find out more about our practice. #Maritime #TankerConference #InceandCoME #NetZero #DubaiEvents #Inceme #Incecomiddleeast

SEA-LNG’s annual ‘A View from the Bridge’, a review of the uptake of LNG as a marine fuel in 2023 and its outlook for continued expansion in 2024, is now available.   At the International Maritime Organization in July, the Marine Environment Protection Committee (MEPC 80) adopted a revised GHG Strategy to significantly curb GHG (greenhouse gas) emissions from international shipping. The new targets include a 20% reduction in emissions by 2030, a 70% reduction by 2040 (compared to 2008 levels), and the ultimate goal of achieving net-zero emissions by 2050. LNG is currently the most viable and practical solution for the decarbonisation of the maritime industry.   According to DNV - Maritime, as of December 2023, there are 469 LNG-fuelled ships – excluding LNG carriers – in operation, with a further 537 on order. DNV predicts that by the end of 2027, over 1,000 LNG fuelled ships will be carrying goods around the world with reduced emissions. This compares to only 36 LNG-fuelled vessels in operation a decade ago. According to Clarksons, some 188 ports offer LNG bunkering services, with a further 82 bunkering locations decided and implementing plans, or under active discussion. The number of LNG bunker vessels has grown to 50, with a further 34 on order or under discussion.   LNG offers a practical and realistic pathway to zero-emissions for shipping. LNG offers immediate greenhouse gas reductions of up to 23% and the lowest cost of compliance with European and IMO regulations. Bio-LNG, which can be dropped in to existing LNG engines and infrastructure, has the lowest production costs of all alternative marine fuels and is increasingly available. And e-LNG will have similar availability and cost issues as other hydrogen-based products. Read SEA-LNG’s ‘A View from the Bridge’ here: https://lnkd.in/d5xCaS_2 #LNG #bioLNG #syntheticLNG #shipping #VftB #decarbonisation #marinefueldecarbonisation

DECARBONISATION: The other side of coin of the announced Maersk & CMA-CGM partnership for the maritime decarbonisation... --- "Green critics hit out at carrier appetite for LNG fuel" Following Maersk’s green partnership with CMA CGM, announced just one week after Maersk’s methanol “new industrial revolution”, environmental coalition Ship It Zero has expressed concern over the French liner giant’s preoccupation with LNG. Although Ship It Zero Lead, Pacific Environment, Eric Leveridge was “encouraged” by the partnership in general, the group is “still concerned about the use of fossil-fuelled LNG ships and the climate destruction that they bring. Scientific evidence shows that burning LNG for ship fuel is not uniquely damaging compared with heavy fuel oil or marine diesel, but as a method for decarbonisation its impact negligible as it simply replaced one fossil fuel with another. " (by Charlie Bartlett, The Loadstar) https://lnkd.in/dVppJpi3

💡 Shipping Industry Needs to Standardize Methane Emission Measurement and Promote Development of Reduction Technology ✅ A report by the Methane Abatement in Maritime Innovation Initiative (Mamii) warns of the urgent need for legislation to standardize methane emission measurements and promote the development of emission reduction technologies in the shipping industry. ✅ Panos Mitrou, Chairman of Mamii, highlighted that while new eco-friendly fuels have great potential, the industry must establish a framework that provides essential tools for methane reduction from the outset. ✅ The report states that a regulatory system offering incentives for technology development and deployment is necessary to eliminate uncertainties and promote reductions across the industry. Mamii also emphasized the need for industry-wide cooperation to ensure standardized quality in carbon emission measurement and monitoring, which would create transparency and benefits for all stakeholders. #Container #Shipping #Maritime #ContainerShipping #ContainerMarket #OceanFreight #Capacity #Logistics #Transit #Sustainability #SustainabilityManagement #NetZero https://lnkd.in/egKUWB_R

The need to reduce the carbon footprint of sea going vessels and the serious concerns about the threat of air pollution and the contributions of global maritime industry to poor air quality have clearly defined the necessity for the use of LNG as a transitional bunker fuel for greener shipping. Following the 40% GHG reduction target for 2030 as set by IMO, shipping firms that take positive strategic actions in this direction may likely position to reap the benefits of corporate reputation, increasd revenues, customer satisfaction, unrestricted operational areas, green financing from banks/investors, new technology transfer, personnel retention, etc. While government regulators, organisations, and all maritime stakeholders aggressively seek cleaner, more sustainable and more environmentally friendly shipping, Shipowners should be properly advised in the choice of appropriate bunkers for their fleet through the provision of right information and accurate data.

From an LNG perspective, it was positive to see the International Maritime Organization approving new Emissions Control Areas (ECAs) for Canada and Norway’s Arctic waters at its recent Marine Environment Protection Committee meeting, MEPC 80. These are set for adoption at the next MEPC meeting in October.   As reported by Ship & Bunker, the Canadian Arctic ECA will cover nitrogen oxides (NOx), sulphur oxides (SOx) and particulate matter (PM) emissions such as black carbon, while the Norwegian Sea ECA will cover NOx and SOx. The new ECAs build on previous IMO rules that will see the Mediterranean become an ECA as of May 1, 2025. LNG as a marine fuel emits virtually zero SOx and PM emissions and reduces NOx emissions by up to 95%. Removing these harmful local emissions improves air quality for crew, passengers and coastal residents. Read more about local emissions reductions in our 'A View from the Bridge 2023-24' report here: https://lnkd.in/d5xCaS_2 #ShipsAndShipping #MEPC80 #LNG #BioLNG #ELNG

The “Green Transition” Brings Choices and Challenges.... Throughout much of this year, the maritime media has reported how ocean carriers continue to target a ‘green transition.’ Yet the process is not a simple one. To begin with, are the shipping lines Team Ammonia, Team LNG, Team Hydrogen or Team Methanol? Decarbonisation for ocean carriers is an expensive commitment and comes at a time when the industry is already facing volatile geopolitics in multiple areas, extortionate canal transit costs in Panama, and plummeting profits. Ultimately there is a price that needs to be paid for going green across the entire supply-chain and it remains a difficult balancing act as we go into 2024. Please reach out to Steve Wray and Dean Davison to discuss any opportunities. The full article can be seen at https://lnkd.in/gWfQF_Ec #maritime #maritimeindustry #shippinglines #greentransition #decarbonisation

#shipping news: the EU would need an additional 3,300 MW of onshore power in order to reduce at-berth CO2 #emissions by 100% - ICCT report. This leads to question whether the #AIFR and #FuelEU Maritime measures (and the broader Fit for 55 package) are currently fit for purpose. Read about The International Council on Clean Transportation’s findings here:

This great analysis from The International Council on Clean Transportation shows how #shipping continues to shift towards fossil LNG even as new regulations come in. 🚢 Without government policy incentivising existing alternative fuels, the industry will find itself squeezed and we will continue to sail away from #NetZero. #shippingsolutions #decarbonisation #energyregulation #lngshipping