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MoU

Scorpio Tankers in MOU for installation of fleet wide bunker fuel emulsion system

Development expected to result in an overall reduction of at least 3% in bunker fuel costs and 100,000 tons of carbon emissions annually.

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Petroleum product marine transportation provider Scorpio Tankers Inc. on Thursday (22 February) said it has signed a non-binding Memorandum of Understanding to install the Fowe Eco Solutions Ltd. (FOWE) fuel emulsion systems across its entire fleet.

The terms of the licensing agreement will require no material upfront costs for Scorpio Tankers and is expected to result in an overall reduction of at least 3% in bunker fuel costs and 100,000 tons of carbon emissions annually.

Emanuele Lauro, Chairman and CEO of Scorpio Tankers, commented, “In terms of financial and environmental benefits, the FOWE system stands out for its clear and immediate advantages.   Requiring little in the way of initial investment and eliminating the need for installation downtime, the FOWE solution presents an ideal pathway to reducing operating expenses and curbing greenhouse gas emissions.”

Dean Mihalic, CEO of FOWE added, “Recent tests conducted at the Alfa Laval Test and Training Centre in Aalborg, Denmark, indicate potential fuel savings of up to 6.3% for boilers and 8.7% for marine four-stroke engines. Our technology produces a permanent emulsion with no additives, resulting in cleaner and more complete combustion and significantly lower greenhouse gas emissions. We are pleased to have reached this stage with Scorpio Tankers, our anchor customer and trusted partner throughout the testing and development process.”

The final licensing agreement is subject to customary documentation and closing conditions, and it is expected to be signed within the first quarter of 2024.

 

Photo credit: Scorpio Tankers
Published: 27 February 2024

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Ammonia

MPA, ITOCHU and partners sign MoU on ammonia-fuelled bulk carriers study

As a government agency, MPA,will review and provide their views to the designs of the ammonia-fuelled ships to ensure their safe operations, says ClassNK.

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Classification society ClassNK on Thursday (18 July) said it signed a Memorandum of Understanding (MoU) with ITOCHU Corporation, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (MPA) regarding a joint study for the design and safety specifications of ammonia-fuelled ships which are under development by ITOCHU and partners.

“The discussion for a specification of ammonia-fuelled ships with a governmental body related to their operation is essential for a social implementation of ammonia-fuelled ships,” ClassNK said. 

“As one of parties of the MoU, MPA, a government agency overseeing the world’s busiest bunkering hub, will review and provide their views to the designs of the ammonia-fuelled ships to ensure their safe operations.”

The MoU is based on the premise that 200,000 deadweight ton class bulk carriers will be built by Nihon Shipyard with an ammonia dual-fuelled engine.

“The necessary clarifications of the specification for the ammonia-fueled ship to carry out ammonia bunkering in Singapore will be conducted among parties of this MoU, for the commercialisation of ammonia-fuelled ships,” ClassNK added.

 

Photo credit: Venti Views on Unsplash
Published: 19 July 2024

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Alternative Fuels

Singapore: MPA and NYK partnership to include green bunker fuel training programmes

Both signed a MoU to deepen their partnership and will include promoting the safe use of bunker fuels such as biofuels, methanol and low or zero-carbon ammonia through a phased approach.

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Singapore: MPA and NYK partnership to include green bunker fuel training programmes

The Maritime and Port Authority of Singapore (MPA) on Tuesday (9 July) said it has signed a memorandum of understanding (MoU) with Nippon Yusen Kabushiki Kaisha (NYK) to deepen their partnership and accelerate maritime decarbonisation, digitalisation, and manpower development efforts. 

In line with the International Maritime Organization’s revised Greenhouse Gas strategy 2023, the Paris Agreement, and international energy and climate targets, MPA and NYK will collaborate on various initiatives aimed at promoting a sustainable maritime industry. 

The partnership will include promoting the safe use of maritime fuels such as biofuels, methanol and low or zero-carbon ammonia through a phased approach. 

The MoU was signed by Mr Teo Eng Dih, Chief Executive, MPA, and Mr Takaya Soga, President and Group Chief Executive, NYK, on 2 July 2024.

Both parties will discuss maritime training programmes for seafarers on ammonia-fuelled vessels and other sustainability-related skills and competencies to support the industry’s transition towards alternative low or zero- carbon fuels, including leadership programs for local professionals.

Mr Teo Eng Dih, Chief Executive of MPA, said: “This MoU marks a significant milestone in the longstanding partnership between MPA and NYK. As a major bunkering and a maritime hub port, Singapore is in a phase of introducing alternative fuels and enhancing manpower development.”

“MPA looks forward to our partnership with NYK to unlock our collective potential and develop solutions that can be scaled up to benefit the global maritime community in the move towards smart and sustainable shipping.”

Mr Takaya Soga, President and Chief Executive Officer of NYK, said: “NYK has been proactively working on decarbonisation initiatives, digitalisation, and maritime human resource development to materialise a sustainable maritime industry.”

“We have begun ammonia-fuel-related business development including bunkering projects, endorsing the Singaporean government's initiative on fuel ammonia. Singapore plays a significant role in the maritime industry as the world's largest hub port for trans-shipment and bunkering.”

“We are delighted to conclude this MoU with MPA as we share the same goals. This MoU will accelerate cooperation between MPA and NYK and contribute to the sustainable development of the maritime industry.”

 

Photo credit: Maritime and Port Authority of Singapore
Published: 10 July, 2024

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Alternative Fuels

SRC Group and Green Marine to develop, deliver Methanol Superstorage to marine market

Methanol Superstorage boosts shipboard tank volumes by 85% and provides effective mitigation for methanol’s significantly lower energy density than conventional HFO.

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SRC Group and Green Marine to develop, deliver Methanol Superstorage to marine market

SRC Group on Tuesday (18 June) said it signed a collaborative agreement with multi-disciplinary methanol consultancy Green Marine Group to develop and deliver Methanol Superstorage to market.

The cooperation is aimed at realising benefits available to SRC’s Methanol Superstorage solution, which has been turning heads among owners, builders, repairers, class societies and insurers since its launch. 

Using the SPS Technology Sandwich Plate System instead of traditional cofferdams that separate tank walls, Methanol Superstorage boosts shipboard tank volumes by 85% and provides effective mitigation for methanol’s significantly lower energy density than conventional HFO.

“Following the huge initial impact made by Methanol Superstorage, SRC and GREEN MARINE will work together to provide comprehensive technical coverage for methanol integration,” said Hannes Lilp, CEO, SRC Group. 

“With Green Marine’s extensive experience in methanol projects and overall technical knowledge of the entire process, combined with SRC’s expertise in methanol storage and over 23 years of experience in ship refits and conversions, we are well-placed to onboard Methanol Superstorage for both retrofit and new build vessels, and establish a mature sales framework to enable global adoption.”

Green Marine continues to drive development of the methanol supply chain in the marine market, with recent agreements including preparations for projected supplies of green methanol from Chinese partners. 

The firm also recently named Singapore-based former Methanol Institute Chief Commercial Officer, Chris Chatterton as Managing Director & Partner, with effect from 1st July, 2024. 

Chatterton said: “Market receptiveness to Methanol Superstorage has been exceptional and we look forward to working with SRC to realise its extraordinary potential to help drive forward methanol as a mainstream marine fuel. Investors will be encouraged to know that, as the most experienced technical player in marine methanol,  Green Marine’s expertise, insight and global support stands alongside SRC in the demonstration phase of Methanol Superstorage.”

Methanol Superstorage has already received Approval in Principle from a leading IACS society, which indicates that no conceptual issues have been identified relating to ship regulatory requirements. 

“In parallel to class approvals, SRC and  Green Marine will also oversee and manage 3rd Party technical development” said Lilp.

 

Photo credit: SRC Group
Published: 19 June, 2024

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