1. Exacting new sustainability rules: maritime industry’s time running out. The maritime industry is moving too slowly to come into compliance with rigorous new European sustainability regulations, which carry the threat of significant fines and even jail, leading environmental consultancy Tunley warned today.The European Union’s Corporate Sustainability Reporting Directive (CSRD) will accelerate the adoption of sustainable practices, energy-efficient technologies and alternative fuels.
https://cyprusshippingnews.com/2024/10/23/exacting-new-sustainability-rules-maritime-industrys-time-running-out/
https://cyprusshippingnews.com/2024/10/23/exacting-new-sustainability-rules-maritime-industrys-time-running-out/
2. ‘’Age of electricity’ to follow looming fossil fuel peak’’: Analysis or Science Fiction? In launching its World Energy Outlook 2024 (WEO), the IEA stated that “the future of the global energy system is electric.” This follows its assertion that demand for coal, oil and gas will peak by the end of the decade. Furthermore, the IEA’s Executive Director stated, “In energy history, we’ve witnessed the Age of Coal and the Age of Oil – and we’re now moving at speed into the Age of Electricity, which will define the global energy system.”
https://cyprusshippingnews.com/2024/10/23/age-of-electricity-to-follow-looming-fossil-fuel-peak-analysis-or-science-fiction/
https://cyprusshippingnews.com/2024/10/23/age-of-electricity-to-follow-looming-fossil-fuel-peak-analysis-or-science-fiction/
3. Egypt set to tender for up to 20 LNG cargoes to cover Q1 2025 demand. Egypt plans to issue a tender seeking up to 20 cargoes of liquefied natural gas (LNG) to cover demand for the first quarter of 2025, three trading sources told Reuters on Monday.
The most populous Arab country has returned to being a net importer of natural gas, buying more than 50 cargoes so far this year and abandoning plans to become a reliable supplier to Europe.
https://cyprusshippingnews.com/2024/10/23/egypt-set-to-tender-for-up-to-20-lng-cargoes-to-cover-q1-2025-demand/
https://cyprusshippingnews.com/2024/10/23/egypt-set-to-tender-for-up-to-20-lng-cargoes-to-cover-q1-2025-demand/
4. ICS top officials to meet in Hong Kong for high-level summit on global trade and rising protectionism. Amid rising trade tensions and increasing protectionist measures leaders of the maritime sector will gather forThe Hong Kong Global Maritime Trade Summit which will take in a month’s time on 18 November 2024.
https://cyprusshippingnews.com/2024/10/23/ics-top-officials-to-meet-in-hong-kong-for-high-level-summit-on-global-trade-and-rising-protectionism/
https://cyprusshippingnews.com/2024/10/23/ics-top-officials-to-meet-in-hong-kong-for-high-level-summit-on-global-trade-and-rising-protectionism/
5. Grimaldi adds Patras call to its Trieste-Ambarli ro-ro line. Just over a month after its launch, the Grimaldi Group’s Trieste-Ambarli ro-ro route will be enhanced with an intermediate call at the port of Patras. This strategic development will not only establish a direct connection between Greece and Turkey, but will also make the connections between these countries and Italy even more extensive and efficient.
https://cyprusshippingnews.com/2024/10/23/grimaldi-adds-patras-call-to-its-trieste-ambarli-ro-ro-line/
https://cyprusshippingnews.com/2024/10/23/grimaldi-adds-patras-call-to-its-trieste-ambarli-ro-ro-line/
6. New survey explores perception of ammonia as a marine fuel among seafarers. The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping released the findings of a comprehensive survey exploring the maritime community’s perceptions of ammonia as an alternative marine fuel. Ammonia’s adoption will need to address safety, training, and regulatory challenges according to respondents in the survey.
https://splash247.com/new-survey-explores-perception-of-ammonia-as-a-marine-fuel-among-seafarers/
https://splash247.com/new-survey-explores-perception-of-ammonia-as-a-marine-fuel-among-seafarers/
7. Seatrium picks up $76m in contracts. Singapore shipyard group Seatrium has revealed a new series of repairs and upgrade contracts worth in total about S$100m ($76m).The contracts from various long-standing clients cover a range of projects, including carbon capture and storage (CCS) retrofits, LNG carriers, offshore vessels and tankers amongst others.
https://splash247.com/seatrium-picks-up-76m-in-contracts/
https://splash247.com/seatrium-picks-up-76m-in-contracts/
8. Smart Green Shipping gets funds to continue wind sail development. Renewable energy firm Drax will add funding to develop Smart Green Shipping’s FastRig automated wind sail.Drax will inject £1m ($1.3m) into the initiative, matched by funding from the UK Government’s Clean Maritime Demonstration Competition grant.
https://splash247.com/smart-green-shipping-gets-funds-to-continue-wind-sail-development/
https://splash247.com/smart-green-shipping-gets-funds-to-continue-wind-sail-development/
9. 5 Key Insights from UNCTAD’s 2024 Review of Maritime Transport: Challenges and Opportunities for Global Shipping. The 2024 Review of Maritime Transport report by UNCTAD offers a comprehensive analysis of the current state and future outlook of the global maritime industry. It examines how geopolitical tensions, climate risks, and economic pressures are reshaping maritime transport, while also highlighting the critical need for decarbonization and digital innovation. Here are five of the most interesting insights from the report and what they mean for the future of maritime transport.
https://gcaptain.com/key-insights-from-unctads-2024-review-of-maritime-transport/
https://gcaptain.com/key-insights-from-unctads-2024-review-of-maritime-transport/
10. Inside the Shadowy Insurance Market Covering Russia’s Oil Tankers. One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill.
https://gcaptain.com/inside-the-shadowy-insurance-market-covering-russias-oil-tankers/
https://gcaptain.com/inside-the-shadowy-insurance-market-covering-russias-oil-tankers/
