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New Ship Fuel Rule Could have Negative Health and Climate Impacts


A new regulation introduced on January 1, 2020, by the International Maritime Organization (IMO) that limits sulphur in fuel oil used on board ships could significantly increase harmful black carbon (BC) emissions if blended fuels are used, according to a

Major project to convert offshore vessel to run on ammonia-powered fuel cell


A maritime innovation project looking to install the world's first ammonia-powered fuel cell on a vessel has been awarded €10m funding from the European Union.

The ShipFC project is being run by a consortium of 14 European companies and institutions, co-ordinated

EIA expects U.S. net natural gas exports to almost double by 2021


In its Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0

BNP Paribas and Credit Suisse join leading global shipping banks in support of UN climate targets


The world’s largest lender to global shipping, BNP Paribas, and leading wealth manager, Credit Suisse, become the 15th and 16th financial institutions to sign on to the Poseidon Principles.

The Poseidon Principles are the world’s first sector-specific, self-governing climate alignment agreement

BunkerTrace secures first commercial partnership with Marfin Management S.A.M to increase transparency for its fleet’s b


BunkerTrace, owners of the marine fuels tracking solution, yesterday announced its first commercial partner, ship manager Marfin Management S.A.M. The Monaco-based family firm will use BunkerTrace to track marine fuel, using synthetic DNA markers at specific points of the supply

Paris MOU and Tokyo MOU Urge Strict Implementation of Rules on the carriage of non-compliant fuel


The Tokyo and Paris Memoranda of Understanding (MoUs) on port State control (PSC) have been working collaboratively to ensure that vessel owners and operators are aware that under the Authorities belonging to these MoUs, inspections will be undertaken to ensure

EIA forecasts crude oil prices will fall in the first half of 2020, then rise through 2021


In the U.S. Energy Information Administration's (EIA) January Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $65 per barrel (b) in 2020 and $68/b in 2021 and that the West Texas Intermediate (WTI)

At least $1 trillion of capital investment in land-based and ship-related infrastructure required to halve international


Shipping needs to make a radical shift to zero carbon energy sources in the coming three decades to reduce the sectors total greenhouse gas emissions by at least 50% of 2008 levels by 2050 – a target set by the

Monetary policies: potential impact on the oil market


In 2019, many central banks in both developed economies and emerging markets reversed the trends of their monetary policies to be more accommodative. The market turmoil experienced at the end of 2018 and the uncertainties related to the trade dispute

Tankers: A Mixed Bag


A quieter week in the Middle East, alongside falling bunker prices has left owners unable to maintain rate levels. 280,000mt to USG lost around 10 points to WS50 level, while rates for 270,000mt to China weakened 25% to WS85.

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