Shipping is the critical enabler in the world’s transition to low carbon operations and needs government support to ensure it is at the front of the queue for next-generation fuels, believes ABS Chairman, President and CEO, Christopher J. Wiernicki.
“Governments will have a pretty significant role in this, but shipping is going to be the critical enabler,” stated Wiernicki at the International Chamber of Shipping’s event Shaping the Future of Shipping at COP26.
“It is going to be shipping that will move the next generation of fuels from the centers of production to distribution hubs around the world. Governments need to prioritise shipping. It is not the second show, it should be the main show.”
Wiernicki also took part in the World Climate Summit event, speaking on a panel titled: Accelerating the Green Transition and Technologies through Partnerships Best Practices from the Shipping Sector alongside representatives from Maersk, International Maritime Organization and Kuehne + Nagel.
“The real future fuel will be a mixture of leadership and cooperation. This is a ‘we’ game, where success is a team sport. No one organization, no individual company, has the resources to meet this challenge alone. We will need to work together, pool our resources, experience, and knowledge if we are to achieve our sustainability ambitions,” he said.
ABS, Hyundai Heavy Industries, and Korea Shipbuilding and Offshore Engineering also announced two landmark joint development projects (JDPs) during COP26 to develop decarbonisation technologies to support global sustainability ambitions. The JDPs address green hydrogen production and offshore carbon capture and storage.
Discussions around the need to develop methanol bunkering operations are taking place at numerous ports ahead of estimated demand of above 7M mtpa by 2030, says Chris Chatterton of Methanol Institute.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.
Livestock carrier also involved in earlier bunker claim with Glander International Bunkering due to remaining unpaid fuel bill of approximately USD 116,000, according to court documents obtained by Manifold Times.