Emissions trading begins to bite

Emission trading systems (ETS) are “cap and trade” schemes that permit the emission of greenhouse gases in exchange for allowances. They are just one part of the ever-expanding web of environmental measures that are impacting the shipping industry with the aim of ensuring greater efficiency and more environmentally friendly shipping, particularly in reducing emissions. IMO …

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WAF-East VLCC rates hit eight-month high as tonnage supply remains limited

The West African Very Large Crude Carrier market has seen a major spike in rates since the start of February, which sources attribute to a sudden clear-out of the tonnage pool in the Atlantic region, steady levels of under-the-surface fixing activity and support from strengthening rates in the Persian Gulf and Brazilian markets. Platts, part …

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How the extended EU Emissions Trading System will impact maritime transport and ports

From 1 January this year, global shipping is now a part of the European Union’s Emissions Trading System (EU ETS), one of the Union’s main tools to curb greenhouse gas emissions. And whilst it is a significant policy shift that will boost the sector’s decarbonisation efforts, it also brings a wave of challenges and opportunities …

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Interocean Marine Services positions for a strong 2024 with new Leadership and Brand

Interocean Marine Services (Interocean), the specialist provider of support services to the offshore, energy, marine and renewable sectors, has kicked off 2024 with the announcements of a new Chief Commercial Office (CCO) and Chief Financial Officer (CFO). Simon Laing joins Interocean as CFO and Alex Clark moves into a CCO role following his position as …

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