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Shipping industry frustrated by governments’ rejection of R&D Fund to catalyse sector decarbonisation

Following the conclusion of this week’s meeting of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 78), the International Chamber of Shipping (ICS), representing 80% of the world’s merchant fleet, has released the following statement: Guy Platten, ICS Secretary General, commented: “By refusing to take forward the shipping industry’s proposed research and development …

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Shipping pushing its decarbonization agenda amid turbulence: industry experts

The pathway to decarbonize shipping is fraught with various hurdles but some strides are being made, with the need to build a circular carbon economy, achieve heightened collaboration, and develop scalable zero-carbon fuels while also enhancing energy efficiency of ships being increasingly recognized as vital steps to achieve that goal, industry experts said at an …

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Drewry: World Container Index Down By 0.6% This Week, Only 13% Higher Than a Year Ago

Drewry’s composite World Container Index decreased by 0.6% to $7,578.65 per 40ft container this week. Our detailed assessment for Thursday, 09 June 2022 • The composite index decreased by 0.6% this week, but, remains 13% higher than a year ago. • The average composite index of the WCI, assessed by Drewry for year-to-date, is $8,569 …

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ABS, Daewoo Shipbuilding and Marine Engineering and GasLog Agree to Develop Carbon Capture Onboard Technology

ABS, Daewoo Shipbuilding and Marine Engineering (DSME) and GasLog are joining forces to lead the development of carbon neutral shipping. The three companies have committed to work together to develop an onboard CO2 capture and storage system (OCCS) by signing a joint development project (JDP) at the Posidonia International Shipping Exhibition. This emissions reduction technology …

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Shipping fuel and lubes prices skyrocket as geopolitical and regulatory tussles take their toll

POSIDONIA 2022 SETS SECOND STRAIGHT ATTENDANCE RECORD More than 40 marine fuel suppliers from around the world have gathered at this year’s Posidonia during a critical juncture for the US$300billion bunkering market, due to the double whammy of the geopolitical crisis and the uncertainty surrounding the regulatory framework pertaining to the decarbonisation of the shipping …

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