George Collard of global energy and commodity price reporting agency Argus Media on Wednesday (27 October) published a report of the World Shipping Council (WCS) focusing on EU’s availability of alternative marine fuels in achieving decarbonisation.
The World Shipping Council (WCS) has warned the EU that alternative marine fuel supply must be widely available for its decarbonisation policies to work.
The WCS whose members operate 90pc of the world’s container liner capacity and 60pc of total seaborne trade said it is concerned that the EU’s Renewable Energy Directive may not provide enough supply to meet demand after 2030. And it suggests that the EU’s FuelEU Maritime plan would be more successful if fuel use obligations were linked to the availability of green fuels.
The FuelEU Maritime plan is part of the EU’s wider ‘Fit for 55′ package to reduce net greenhouse gas (GHG) emissions from the bloc by at least 55pc by 2030, compared with 1990 levels. The aim is to increase the use of green marine fuels in the EU.
Under the plan, there will be mandatory standards on the carbon content of bunker fuels, including on fuels that were bunkered outside of the bloc before a voyage into EU waters. Applying these rules to ships originating outside of the EU could be difficult and would cause an overlap between different regional and global policies, the WCS said.
The European Community Shipowners’ Association (ECSA) has also warned that ships originating outside the EU may have significant difficulties in sourcing bunker fuel compliant with the FuelEU Maritime plan, particularly biofuels, compared with intra-EU shipping.
The WCS believes FuelEU Maritime would be more effective if it applied solely to intra-EU shipping. Both the WCS and ECSA have said EU efforts to regulate shipping originating outside of the EU would be difficult to enforce and could undermine the International Maritime Organisation’s (IMO) efforts to decarbonise global shipping.
The WCS also wants the FuelEU Maritime plan to adopt 2019 as its baseline for reducing GHG emissions rather than 2020, which would harmonise the plan with IMO targets. The group expressed strong support for FuelEU Maritime’s use of lifecycle GHG emissions and also its aim to ensure shipowners and charterers are responsible for cutting emissions.
Photo credit and source: Argus Media
Published: 2 November, 2021
Result was due to a joint partnership between Solstad and VPS Decarbonization to use data analytics to save as much fuel and emissions as possible during a vessel’s long transit.
‘The new addition increases our bunkering capacity at Hong Kong port to about 20,000 metric tonnes per month,’ says Managing Director of Buriskey Supply & Services.
Seah Khen Hee shares with Manifold Times how the new MFM bunkering standards contribute towards enhancing marine refuelling operations at the world’s largest bunkering port.
H.E.C. Europe and other firms are owned and controlled by Aegean’s founder and former Head of Corporate Development.
Lower demand and improved supply logistics for LSFO main factors behind the narrowing of price premium over HSFO.
Formation of new practice groups – commercial disputes, employment, and corporate, banking and finance – to join the already established shipping and commodities practices of the 2019-established firm.
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.
