SHIPPING INDUSTRY FACES FUEL DILEMMA IN BID TO CUT EMISSIONS
The shipping industry is under increasing pressure to decarbonize, but unclear regulatory guidelines, including around what sorts of cleaner fuels large vessels should run, is complicating that path to net zero, according to executives. Global shipping firms are looking for ways to lower their carbon footprints, particularly as the International Maritime Organization (IMO), which regulates the global shipping industry, is being pushed to implement a charge on the sector’s greenhouse gas emissions.
“None of us like the fact that we are burning dirty fuel. But no authority is answering what the best fuel is”, Andrew Jamieson, co-head of Clearlake Shipping said on the sidelines of the conference. Shipping accounts for roughly 90% of world trade and is responsible for nearly 3% of the world’s carbon dioxide emissions. Most large ships currently run on very low-sulphur fuel oil, a tar-like oil that is relatively inexpensive and energy dense, meaning that a fairly small amount is needed to propel a vessel for great distances. The lack of clarity leaves players reluctant to commit to one less carbon-intensive fuel over another for their fleets, be it hydrogen-carriers methanol, ammonia, biodiesel or liquefied natural gas (LNG).
(Link: Reuters)
NEW GRAIN TERMINAL PLANNED AT BRAZIL’S PORT OF SANTOS
Brazilian rail operator Rumo and supply chain solutions provider DP World have reached an agreement to build a new port terminal for grains and fertilizers at the Port of Santos in Brazil. The project, which will be installed at DP World’s private-use terminal on the port’s left bank, will boost the port’s handling capacity by 9 million tonnes of grains and 3.5 million tonnes of fertilizers, DP World said. DP World said Rumo has committed an investment of $500 million toward the construction of the project, which is expected to span 30 months. For its part, DP World will oversee port operations, including cargo movement.
(Link: WorldGrain)
