Connect with us

Business

Maersk issues Q1 2023 surcharge, says cost of ETS compliance ‘will likely be significant’

‘It is expected that the volatility of the European Union Allowance (EUA) traded in ETS may increase, as the revised legislation comes into effect’, it states.

Admin

Published

on

maersk

Danish international container shipping company Maersk on Tuesday (12 July) issued estimates of cost increases (in EUR) per Forty-foot Equivalent Unit (FFE) for selected trades during Q1 2023, based on expected EU Emissions Trading System (ETS) compliance rates.

“The cost of compliance with the ETS will likely be significant therefore impacting the cost of shipping. It is expected that the volatility of the European Union Allowance (EUA) traded in ETS may increase, as the revised legislation comes into effect,” it stated.

Below are estimates of cost increases per FFE for selected trades with the following considerations.

  • Price of the European Union Allowance (EUA) to be around EUR 90
  • Obligation to purchase allowances is considered 100% since the ETS proposal version of the European Parliament abolishes the phase-in period
  • Emissions of CO2, Methane and Nitrous oxide proposed in the assembly

Maersk issues Q1 2023 surcharge, says cost of ETS compliance ‘will likely be significant’

According to Maersk, a wide range of developments have been carried out in the world of regulatory affairs within logistics during the past months.

It noted the European Parliament adopting its version of the EU ETS legislation on 22 June 2022, and the Council of the European Union adopting its [different] version of the ETS legislation on 29 June 2022.

“With both European Parliament and the Council of the European Union both having adopted positions on the ETS proposal, the legislative process can enter the next phase,” explained Maersk.

“During this phase, the two institutions, together with the European Commission, need to reach a compromise before the proposal becomes legislation.

“Given the differing positions on elements such as the phase-in period, the percentage for voyages between EU and non-EU ports and when carbon pricing begins, as well as other non-logistics related issues these negotiations will take some time.

“We expect that political agreement can be reached towards the end of 2022.”

Note: The full Maersk report ‘EU Emissions Trading System (ETS) – latest developments’ published on 12 July can be read here.

 

Photo credit: Maersk
Published: 18 July, 2022

Continue Reading

Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

Admin

Published

on

By

300

Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

Continue Reading

LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

Admin

Published

on

By

299

Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

Continue Reading

Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

Admin

Published

on

By

Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

Continue Reading
Advertisement
  • v4Helmsman Gif Banner 01
  • SBF2
  • Aderco advert 400x330 1
  • RE 05 Lighthouse GIF
  • EMF banner 400x330 slogan
  • Consort advertisement v2

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • Triton Bunkering advertisement v2
  • Singfar advertisement final
  • 102Meth Logo GIF copy


  • pro liquid
  • intrasea
  • E Marine logo
  • Victory Logo
  • Uni Fuels logo advertisement white background
  • endress
  • Golden Island logo square
  • Central Star logo
  • Kenoil
  • Trillion Energy
  • Headway Manifold
  • VPS 2021 advertisement
  • 400x330 v2 copy
  • Advert Shipping Manifold resized1

Trending