Shipping Sector

MOL Designated “Sector Champion”of First Movers Coalition

redcharlie-Credit: redcharlie1-unsplash
  • MOL, led by CEO Takeshi Hashimoto, has been appointed as a “Sector Champion” in the First Movers Coalition (FMC) to promote zero-emission fuels in the shipping sector.
  • The FMC, consisting of seven sectors, aims to power at least 5% of deep-sea shipping with zero-emission fuels by 2030.
  • MOL’s “MOL Group Environmental Vision 2.2” aims to achieve net-zero GHG emissions by 2050 and promote sustainable development.

MOL Appointed as “Sector Champion” of First...

https://mfame.guru/mol-designated-sector-championof-first-movers-coalition/

Shipping Sector Aims Zero Carbon Shipping by 2050

  • Top shipping industry stakeholders are joining forces through the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.
  • They are A.P. Moller – Maersk, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK
    Line, Seaspan Corporation and Total.
  • The main aim is to assess the technical, financial and environmental potential of converting existing vessels to zero carbon fuels and -technology.
  • It is a part of the transition to a global zero carbon fleet by 2050.

A recent news article published in...

https://mfame.guru/shipping-sector-aims-zero-carbon-shipping-by-2050/

Switch Bill of Lading, Instruments of Fraud & Risks Involved

  • In international trade goods are often bought and sold by traders and they often do not produce the goods.
  • The trader earns on the price differential between his supplier and buyer.
  • Often the trader will want to protect the identity of the supplier / shipper and may ask the carrier to switch bills of lading to another bill of lading which does not name the actual supplier.

A recent news article published in the Maritime Cyprus reveals the risks and instruments of fraud concerning switch bill...

https://mfame.guru/switch-bill-of-lading-instruments-of-fraud-risks-involved/

IMO 2020 Rule & Road To Decarbonization Goals

  • Successful implementation of the IMO 2020 rule is attributed to the cooperation of the stake holders.
  • It has provided a future pathway for impending stricter environmental rules and other changes in international shipping.
  • IMO is working hard to promote the uptake of alternative fuels.
  • It also aims at putting in place a regulatory framework to support the safe and environmentally friendly use of the different alternative fuels.

A recent Platts news highlights that success of IMO 2020 rule sets...

https://mfame.guru/imo-2020-rule-road-to-decarbonization-goals/

5.65 Billion Green Fund For Buying LNG Vessels

  • Tokyo-based Anchor Ship Partners will launch a roughly 600 billion yen ($5.65 billion) vehicle as early as this month to aid decarbonization efforts in the shipping sector.
  • It eyes on Japan’s goal of net-zero greenhouse gas emissions by 2050.
  • The fund will purchase fuel-efficient new LNG carriers to lease to such logistics providers as Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen.
  • Anchor Ship hopes to encourage power plants and other facilities to switch from more carbon-intensive...

https://mfame.guru/5-65-billion-green-fund-for-buying-lng-vessels/

G20 Business Body Chooses ICS As Official Network Partner

ICS selected by G20 business body as its official network partner to highlight the key role of shipping in global trade and the need to end the ‘crew change crisis’, says a press release published on their website. 

Network partner in B20

In an industry first, ICS selected as network partner for taskforces on trade, energy, and finance & infrastructure  to highlight the key role of shipping in global trade and the need to end ‘crew change crisis’. 

Move after virtual meet

This announcement comes as...

https://mfame.guru/g20-business-body-chooses-ics-as-official-network-partner/

A Fact File of Piracy Hotspots in 2020

  • 2020 saw an increase in the affecting the shipping sector very much.
  • A record 130 crew kidnapped in the Gulf of Guinea, a continuing rising trend of armed robberies against vessels in the Singapore Strait.
  • Till date there has been no improvements for robbery incidents in South America.
  • According to the IMB PRC, Benin, Ghana, Angola and Guinea, in addition to Nigeria, represented the top five locations for incidents recorded in the Gulf of Guinea in 2020.
  • The IMB PRC’s data for the last five...

https://mfame.guru/a-fact-file-of-piracy-hotspots-in-2020/

New Initiatives Are Now Following The Poseidon Principles To Help With Decarbonization

It’s the moment climate finance professionals live for: when an idea — an initiative — is turned into real-world action by real-world actors. A year after the Poseidon Principles were signed, 15 banking signatories last month disclosed their ship loan portfolios’ climate alignment scores for 2019, reports GreenBiz.

Progress in the Global shipping sector 

The release of the inaugural “Poseidon Principles Climate Alignment Report” allows us to reflect on the progress the financial sector has...

https://mfame.guru/new-initiatives-are-now-following-the-poseidon-principles-to-help-with-decarbonization/

Cyprus Chief Feels Digital Transformation is the Key for Sustainability

  • Sector should remain vigilant and creative in designing tailored upgraded e-services for their clients without compromising on the quality.
  • One major professional catalyst that cannot be ignored is technology.
  • It disrupts the way in which services are offered to our clients. We have all experienced how the pandemic forcibly accelerated businesses’ digital transformation.
  • The sector, which demonstrated high resilience levels to the previous financial crisis, is expected to rebound once again,...

https://mfame.guru/cyprus-chief-feels-digital-transformation-is-the-key-for-sustainability/

Seafarer Tops the Lloyd’s List of Top 100 People

  • Selecting a list of the most influential people in shipping is never an easy task.
  • There will always be those who disagree with certain inclusions, exclusions and positions within the top 100 and those disagreements will probably last until the following year.
  • But in 2020, there was no dispute over who would be number one.
  • Yes, the 11th edition of the Lloyd’s List Top 100 People, a ranking of the most influential people in shipping, was released late last week.
  • But in this strangest of all...

https://mfame.guru/seafarer-tops-the-lloyds-list-of-top-100-people/

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