George Collard of global energy and commodity price reporting agency Argus Media on Friday (20 November) published an article on the reasons behind container logistics company AP Moller-Maersk excluding LNG as a transition fuel on its journey to being carbon neutral :
The world’s largest bunker fuel consumer, AP Moller-Maersk, does not envisage using LNG as a transition fuel while non-fossil fuel options are developed.
Maersk has no plans to use LNG to fuel its ships, chief executive Soren Skou said during the Danish shipping giant’s third-quarter earnings call.
“We do not believe that LNG is going to play a big role for us,” Skou said. “It is still a fossil fuel, and we would rather go from what we do today to a CO2-neutral type of fuel, but that will be years out in the future, I suspect,” he added.
Maersk has been experimenting with other alternative fuels, such as methanol and ammonia.
LNG is seen as a transition fuel for shipping while alternatives that do not produce greenhouse gas (GHG) emissions are developed. LNG releases less CO2 than other fossil fuels but does emit methane, known as methane slip, which is a significantly more damaging GHG than CO2.
There are 175 LNG-powered ships around the world, mostly operating in Australasia, according to shipping classification society DNV GL. Another 232 ships are on order.
The uncertainty over which fuels will be used in the future means that Maersk has no plans to order new ships, Skou said.
“We are very much aware of the technology risks of ordering ships at this point. We would ideally like to figure out what the future fuels will be and then start building ships that will fit that type of fuel,” he said.
Shipping data firm Marine Benchmark has warned that an ageing global fleet will make reducing GHG emissions from shipping more difficult.
Photo credit and source: Argus Media
Published: 23 November, 2020
Firm still listed as a ‘live’ company under Singapore’s Accounting and Corporate Regulatory Authority.
Company’s services can meet the demands of maritime companies, tourism ships, domestic freight and passenger transportation, says its Maritime Sales Director.
Application was filed by Hin Leong’s judicial managers on 5 February 2021 and a hearing has been scheduled for 10.00 am, Monday, 8 March 2021.
Three-day IMO-UNEP-Norway Zero- and Low Emission Forum event held on 27-29 September and broadcast on UN TV saw over 1,000 participants.
Scrubber is responsible for up to nine percent of certain emissions of carcinogenic and environmentally harmful substances in the Baltic Sea, which is considerably more than was previously known.
AiP was awarded at Samsung Ship Model Basin in Korea; in the presence of Hyun-Jo Kim, Managing Director, SHI and Young-Doo Kim, North East Asia TSO Manager, LR.
KPI OC seeking to recover debt of USD 805,602.15 over five bunker deliveries, not including accrued interest of about USD 363,000 since 15 September, showed court documents obtained by Manifold Times.
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.
