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In September last year the European Parliament voted for the inclusion of greenhouse gas (GHG) emissions from ships over 5,000 gross tonnes in the emissions trading system (EU ETS) by 1 January 2022. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
Shipowners are faced with a number of important decisions in terms of investment and trading if they want to do business within the future sulphur limits of Emission Control Areas (ECAs). The deciding factors influencing the investment decision for installation of a scrubber are the fuel cost spread and the time spent in an ECA. In this article, BIMCO has tried to abridge the issue to facilitate decision making.
BIMCO has established a dedicated subcommittee to examine the implications of the FuelEU Maritime Regulation, a key component of the EU's Fit for 55 legislative package. The regulation is a central pillar of the EU's commitment to reducing greenhouse gas emissions by at least 55% by 2030 and achieving climate neutrality by 2050.
The alternate fuel space is heating up with many options and variants cropping up under a myriad of colours. Among these options, some are considered short term contenders while some are better bets for the long term. In this 15+15 webinar Joshua Padeti , Senior Engineer from ABS' Houston Sustainability Center aims to provide clarity on the maturity status for the major contenders of alternative marine fuels. Options such as LNG, methanol, ammonia, biofuels, hydrogen etc. will be discussed and their variants green, blue, grey etc will be pitted against each other to estimate where the fuels are today and where they might be in the future. What fuels are the current contenders? How do fuel variants stack up against each other? Which fuel options should we on the lookout for?
BIMCO advises on how you could check whether your solid bulk cargo is exempted from having a requirement to have a ship fitted with a fixed gas fire-extinguishing system.
BIMCO’s committee structure will change to reflect the increased importance of the environment while maintaining a thorough debate on safety. The BIMCO Board of Directors agreed to the change at a meeting in December.
Due to a couple of incidents in late 2015 and early 2016 shipments of palm kernel shells were were shown to emit very high levels of methane (flammable ) gas in the cargo spaces.
