As part of is efforts to respond to the increasingly challenging environmental regulations, the South Korean government confirmed unveiled a basic plan to support development of eco-friendly ships.
The 2020 GREEN4SEA Athens Forum successfully concluded on Wednesday 4th of March, at the Lighthouse at Stavros Niarchos Foundation Cultural Center (SNFCC), focusing on the topical green shipping issues and the challenges ahead.
The Korean company Daewoo Shipbuilding & Marine Engineering (DSME) along with the Mitsui O.S.K. Lines recently shake their hands and inked an agreement in order to develop new technologies, reducing the environmental affects of the Floating Storage and Regasification Unitis (FSRU).
As we are approaching the end of another exciting year for shipping, without a doubt the focus of everyone ahead of 2020 will be on IMO sulphur cap. This issue, along with decarbonization in general, has emerged as a main priority for the sector, with companies trying to find ways to cut their emissions. In this article, we take a look back at 2019, and we identify the key environmental moments that left their mark.
On 5 December Costa Cruises, the Italian brand of Carnival Corporation officially took delivery of its first powered by liquefied natural gas (LNG) ship, known as Costa Smeralda. The handover ceremony was held in the place where the company’s vessel was build, at the Meyer shipyard in Turku, Finland.
BW LNG shipping company, part of BW Group, conducted a naming ceremony for two of its new LNG carriers on September 7. The two vessels named BW Pavilion Aranda (H2489) and BW Magnolia (H2490), were constructed by South Korea’s Daewoo Shipbuilding & Marine Engineering.
Costa Cruises, celebrated the first steel-cutting for Costa Toscana, the company’s second ship that can be powered in port and at sea by liquefied natural gas (LNG), at the Meyer Turku shipyard in Finland. The Italy-flagged vessel is to be delivered in 2021.
The increasing vessel supply will put pressure on LNG charter rates in 2018. It also added that its short-term outlook for LNG charter rates is still pessimistic because of the high fleet growth rate compared with demand. In 2017, 43 vessels were planned to be delivered, while only 27 were delivered during the year, with 16 were being delivered in 2018. In 2018 a total of 69 vessels are scheduled for delivery in 2018.
As we are heading towards the end of 2017, we take a look back at the significant developments for the protection of the marine environment. The entry into force of the BWM Convention, the exclusion of shipping in the EU ETS, the initiatives towards electrification and decarbonization compile the scenery of a challenging year for shipping.
Höegh LNG announced that, after considering its contract with GEI, the company decided to terminate the FSRU #9 charter agreement signed on 15 December 2016.
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