Shipowners, operators and charterers face technical, commercial and legal challenges in the run-up to the IMO’s January 2020 sulphur cap. In the following article, Ian Short, a Campbell Johnston Clark partner, explains some essential contractual precautions.
As part of its Energy Transition Outlook 2019, DNV GL provided an independent outlook on the maritime energy future examining how the energy transition will affect the industry. The report forecasts that new fuels, alongside energy efficiency, will play a key role on meeting the IMO greenhouse gas ambitions.
Germany-based MAN Energy Solutions announced it has become a partner of the Bavarian Hydrogen Council, focusing on expanding hydrogen technology in Bavaria. As partner, the company will work with other major players from politics, finance and science to drive the development of hydrogen technology.
In its World Energy Investment report, IEA said geopolitics disruptions in Libya, Iran, Venezuela, Fujairah, and Saudi Arabia confused the supply outlook and marked the first change to its 2019 demand outlook for several months. However, there is no disruption to oil supplies and prices are little changed.
Christopher J. Wiernicki, ABS Chairman, President and CEO, discussed the importance of the US to keep on shaping the future of global maritime energy, safety and sustainability. He highlighted that IMO’s challenges for 2030 and 2050 are pushing the industry to new solutions around fuel and operations that are not only environmentally responsible, but also commercially viable, technically feasible and safe.
On the sidelines of the Second Energy Interconnections summit on 27 July, European leaders signed the Lisbon Declaration, aiming to strengthen regional cooperation in the framework of the Energy Union and better integrate the Iberian Peninsula into the internal energy market.
In its Energy Trends report for Q1 2018, the UK Department of Business, Energy and Industrial Strategy reveals a record high for gas imports in the first quarter of 2018, but a decrease in LNG imports by 14% which and now account for only 9% of total imports.
The International Gas Union released its 2018 World LNG Report examining the current state of the Global LNG Industry. The report shows 2017 as another record-breaking year for LNG trade and reinforces the global LNG industry’s role in expanding access to natural gas.
Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s, according to a survey by DNV GL, which reveals a growing confidence in the case for gas.
The clock is ticking for the 0.5%sulphur cap and although this measure is about to become effective globally in two years from now, the route to compliance remains foggy. SAFETY4SEA seeks to collect essential data reflecting trends with respect to industry’s readiness to comply with the 0.5% sulphur cap.
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