World Maritime News
WMNF 25/07/2024
FMC wants Maersk and Hapag-Lloyd to provide more details on the Gemini alliance
The US Federal Maritime Commission (FMC) is delaying its approval of the operational partnership between Maersk and Hapag-Lloyd pending the receipt of further information from the two carriers and shippers about the new container alliance. The FMC said that the information the two carriers filed with the agency about the Gemini Cooperation partnership “lacks sufficient detail to allow for a complete analysis of its potential competitive impacts.” The agency said it wants both carriers to submit more information about Gemini. In a statement to the Journal of Commerce, Maersk said that the FMC’s request for additional information is standard and should not delay the planned February 2025 start of the Gemini Cooperation.
Read more: JOC
Container carriers to shoulder bulk of Europe fuel intensity rule
Container shipping will carry the heaviest penalty burden of Europe’s FuelEU Maritime regulation that will impose greenhouse gas (GHG) intensity targets on maritime transport providers from Jan. 1 next year, a Hamburg-based emissions management firm, OceanScore said. On top of the costs of compliance and the inevitable penalties a new rule will generate, OceanScore highlighted the challenge of incorporating complex requirements of the regulation in contractual agreements within the shipping industry.
Read more: JOC
IMO carbon levy at $150-$300 would result in least GDP impact on global economy
A carbon levy of $150-$300 per tonne on shipping would result in the lowest impact on global economic growth in 2050 if the revenues were disbursed only to states that were most vulnerable to the impacts of climate change, according to an analysis of potential policies by the International Maritime Organization. Global GDP growth would fall by 0.08% by 2050 if the IMO implemented a carbon levy on shipping at $150-$300 per tonne of CO2 equivalent that considers full lifecycle emissions of bunker fuels (well-to-wake), and the revenue collected was disbursed only to small island developing states and least-developed countries, according to the final report of United Nations Trade and Development prepared for the IMO.
Read more: Lloyd’s List
How expensive is green methanol?
The cost of compliance and potential financial benefits from clean fuel bunkering will come to the fore with FuelEU Maritime. EU emission reduction legislation could drive green fuel prices higher, as demand will rise sharply, with shipowners looking to rake in hefty payouts from FuelEU’s pooling mechanism. Estimating the prices of green fuels such as e-methanol and bio-LNG is a topic that has gained prominence among shipping companies preparing compliance strategies for the FuelEU Maritime legislation because fuel costs will decide key investment decisions on dual-fuel optionality.
Read more: Lloyd’s List
Ocean Network Express boosts methanol containership orderbook as it declares options
Ocean Network Express has boosted its orderbook for methanol-dual fuel containerships by a further 10 vessels after declaring all options attached to a newbuilding contract signed at the beginning of this year. In January, ONE announced orders for a dozen firm 13,000 teu containerships, divided equally between China’s privately owned Yangzijiang Shipbuilding and state-owned Jiangnan Shipyard. According to shipbuilding sources in China, the company has now declared the five options, each arranged by the two shipbuilders to bring the order up to 20 units.
Read more: Lloyd’s List
Ammonia slip risks must be addressed before switch to new fuels, new paper says
According to a new academic paper, new regulations to tackle ammonia slip from ship engines are critical for green fuels to positively impact air quality and prevent negative impacts from excessive nitrogen deposition. Unburnt ammonia from vessel engines could result in 668,000 additional deaths per annum without legislation to tackle such emissions, according to a new paper by researchers from the Massachusetts Institute of Technology. If ship engines are tuned to reduce NOx emissions rather than ammonia and hydrogen emissions, this could result in large increases in deadly particulate matter emissions, as the current legislation focuses on NOx emissions, the paper said. Despite the concerns about issues such as ammonia slip and nitrous oxide (N2O) emissions, the study confirmed the feasibility of ammonia as a climate-friendly marine fuel because these concerns could be mitigated by emission control measures feasible under current technology.
Read more: Lloyd’s List
MOL to invest in UK start-up for engine fuel-efficiency technology
Mitsui OSK Lines plans to invest in Carnot, a UK-based start-up that develops engines with heat-resistant materials, aiming to improve fuel efficiency by up to 40%. The Japanese shipping giant said the engine being developed by Carnot has the potential to improve fuel efficiency by 20% to 40% compared with conventional engines, leading them to consider its application for merchant vessels in the future.
Read more: Lloyd’s List
IMO Council to livestream meetings
The International Maritime Organization Council will live-stream its plenary meetings and publicize its documents to boost transparency. It will make hybrid meeting capabilities permanent so delegates can attend online, and it is looking to make more documents available in more languages. IMO secretary-general Arsenio Dominguez said: “My efforts continue on the modernization and transparency of IMO. I will continue to seek efficiencies, from restructuring to the best use of our financial assets, recruitment, and building facilities, to name a few. At the same time, I invest in those who make all these possible — the professional staff of the secretariat.”
Read more: Lloyd’s List