Sustainable shipping fuels can reach cost parity with fossil fuels by 2035 with decisive policy, says new report. The report reveals that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative (FEUM) will see the cost of using fossil fuels more than double by 2030. By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time. Source: Wartsila
This report analyses the impacts that Houthi attacks are having on commercial shipping in Europe.
International trade drives global economic growth, and around 80% of the global movement of goods is via maritime transport. Access to the two most important canals in the world has been fundamental to this growth. Today, they are chokepoints.
BCG’s latest survey of cargo owners provides insight on how shippers can navigate the dual challenges of taking on environmental responsibility and seizing the business opportunities presented by green shipping. Green shipping is broadly gaining momentum, with significant developments in both the public and private sectors. Nonetheless, cargo owners’ willingness to pay for green shipping falls far short of the level required for significant decarbonization of the maritime industry. Among the principal findings is that the shipping industry is still struggling to convert commitments into measurable actions. Source: BCG
The tank container industry has grown significantly in recent years, driven by increasing global demand for bulk liquid and liquified gas transport, the recognition of the tank container as a safe, flexible and efficient mode of transport; and, during the 2020-2022 Covid-19 period, by disruptions in the logistics supply chain. However, with supply chains returning to normality last year – and volumes of bulk liquids suitable for tank container transport not increasing – there was a slow-down in the rate of growth in 2023. According to this year’s ITCO Survey of the Global Tank Container Market, some 46,600 tank containers […]
The Great Lakes-St. Lawrence Seaway is a vital North American economic and environmental resource, transporting more than 135.7 million tonnes (Mt) of cargo with a value of US$26.1 billion in 2022 across a 2,300 miles deep-draft inland navigation system. Awareness is also growing of the impacts of greenhouse gas (GHG) emissions and overall air pollution from shipping. Global maritime shipping emitted about 1 gigatonne (Gt) of carbon dioxide (CO2) in 2018. According to the U.S. Environmental Protection Agency (EPA), ships and boats emitted 50 Mt of CO2 equivalent in 2021, or equal to 2.8% of U.S. transportation GHG emissions. This […]
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