Global energy and commodity price reporting agency Argus has launched two calculated prices that value the cost of compliance generated under the FuelEU Maritime regulation. The calculated prices represent the cost of abating one tonne of CO2 equivalent by burning used cooking oil methyl ester...
https://www.hellenicshippingnews.com/argus-launches-fueleu-greenhouse-gas-reduction-prices/
Clean LR2 Following on from the notable improvements MEG LR2’s stagnated this week. The TC1 75Kt MEG/Japan index subsequently floated around the WS125 level and TC20 90kt MEG/UK-Continent assessments paused around $3.4 million. West of Suez, Mediterranean/East LR2’s of TC15 continued to hold at the...
https://www.hellenicshippingnews.com/tankers-vlcc-market-on-correction-mode-after-peaking-mid-week/
The 18th Intersessional Working Group on GHGs has concluded with the GHG levy in combination with a Global Fuel Standard as the most favoured candidate mid-term measure for reducing GHG emissions from shipping, with majority support across the African participants, SIDS and LDCs and developed...
During the International Maritime Organization (IMO) climate talks in London this week, 13 additional countries support a global carbon levy on shipping. These are (on background): Dominica, Georgia, Grenada, Kiribati, Malawi, Mexico, Namibia, Nauru, New Zealand, Senegal, Switzerland, Trinidad and...
https://www.hellenicshippingnews.com/shipping-carbon-levy-support-surges-another-25-at-imo/
The Clean Maritime Fuels Platform, representing the European shipowners and the fuel suppliers, stresses the urgency of developing a European supply chain for clean shipping fuels. An estimated €40 billion in annual investments required for European shipping alone up to 2050 according to the Draghi...
It has been five years since the initial collaboration between Istia Aigaiou, a Social Cooperative Enterprise, and Dock, two organizations in the Social and Solidarity Economy, who joined forces to bring to life their vision of zero CO₂ emissions in transport across the Aegean. The climate crisis,...
https://www.hellenicshippingnews.com/completion-of-project-for-zero-co₂-emissions-on-sea-transport/
As this week’s crucial International Maritime Organization (IMO) meeting on the reduction of climate heating emissions from the shipping sector (Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships, ISWG-GHG 18) begins, the Clean Shipping Coalition called for the...
Shipping companies including the German shipping giant Hapag-Lloyd and a number of NGOs have called on the UN global shipping agency to exclude unsustainable biofuels from its list of green alternatives to traditional fossil fuels. The International Maritime Organization (IMO) has agreed on...
https://www.hellenicshippingnews.com/shipping-companies-call-for-limits-on-biofuels-in-shipping/
Following the extension of the EU Emissions Trading System (ETS) to maritime transport from 1 January 2024, this year will be the first year that shipping companies must surrender allowances covering emissions in 2024. Each shipping company is assigned to the administering authority of an EU Member...
Clean LR2 MEG LR2’s saw an uptick in enquiry this week leading to a gentle upturn in freight levels. TC1 75kt MEG/Japan climbed 22.5 points to WS125.56 and TC20 90kt MEG/UK-Continent went from $3.3m to $3.63m. West of Suez, Mediterranean/East LR2’s of TC15 remained quiet this week and the index...
https://www.hellenicshippingnews.com/tankers-vlcc-market-quite-active/