U.S. natural gas prices more than doubled since the start of the year, and this summer’s air-conditioning season could send them soaring by at least another 25%. In the futures market, gas prices rose 4.4% Tuesday as hot spring weather in the Southern U.S. pressured a market that has already been...
Metals and mining companies will face varying impacts from the transition to a low-carbon economy, including diverging demand trends and the need to transform production processes and switch to greener energy sources and cleaner feedstock, Fitch Ratings says in a sector-specific Climate Vulnerability Scores (Climate.VS) report. Climate.VS vary depending on companies’ demand and supply outlooks, …
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https://www.hellenicshippingnews.com/metals-mining-faces-diverse-impact-from-energy-transition/
As shipowners rush to comply with Energy Efficiency Existing Ship Index (EEXI) requirements, misguided decisions on “low friction” hull coatings can have far reaching consequences. Jotun has created a tool to calculate the CII of individual vessels and project the expected development in CII...
https://www.hellenicshippingnews.com/new-tool-to-forecast-carbon-intensity-of-vessel-operations/
New mandatory targets must push ports and ships into using shore power technology to reduce emissions, according to the UK Chamber of Shipping. This forms part of a 12-part mandatory regulatory framework being recommended by the industry body, to drive widespread adoption of shore power and other...
GoodFuels, the leading biofuels pioneer for the global transport industry, and ITOCHU Corporation, one of Japan’s largest general trading companies, have today announced a new partnership agreement to scale sustainable marine biofuel in Singapore, Japan, and Asia-Pacific. ITOCHU is actively engaged in the wholesale, distribution, and bunkering of petroleum products in both Singapore and Japan, …
The post GoodFuels and ITOCHU sign strategic partnership agreement to scale sustainable marine...
China has ramped up coal production to offset declines in imports of coal and LNG amid surging global energy prices, and analysts expect natural gas consumption to contract further in 2022 while coal consumption continues to rise. The trend is in line with natural gas demand destruction in several...
The European Commission on Wednesday unveiled a 210 billion euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy. The invasion of Ukraine by Russia, Europe’s top gas supplier, has prompted the...
https://www.hellenicshippingnews.com/eu-unveils-210-bln-euro-plan-to-ditch-russian-fossil-fuels/
Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth. Brent crude futures for July were up $1.32, or 1.2%, at...
Maritime transport is the only sector with a formally recognised global minimum wage, which has existed for seafarers since 1958. The UN International Labour Organization (ILO) once again convened the latest bipartite round of negotiations between shipowners and seafarers’ unions from across the world, coordinated by the International Chamber of Shipping (ICS) and the International …
The post Global shipowner group and seafarers’ unions agree new three-year global minimum wage ‘safety net’ deal...
Southern California port officials say the threat of a penalty fee, which has never been imposed, is a major reason cargo has been moving quickly and an enormous backup of container ships offshore has receded. The ports of Los Angeles and Long Beach have pushed back what they call a container dwell...
https://www.hellenicshippingnews.com/california-ports-say-threat-of-penalty-keeps-cargo-moving/