According to a Wood Mackenzie study, global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritime Organization’s (IMO) 0.5 wt% sulphur cap for bunker fuels kicks in.

Fuel

To much fanfare and accompanied by voluminous industry coverage, Mexico recently concluded Round 1.4, the country’s first ever deepwater licensing round. However, Mexico’s shallow waters may yet have a future too: Bay of Campeche reserves remain considerable and indeed, the

ABS, a leading provider of classification and technical services to the marine and offshore industries, was awarded accreditation by Greece’s National Accreditation Body, the Hellenic Accreditation System (ESYD), to perform assessments for European Union (EU) Monitoring, Reporting and Verification (MRV)

DryShips Inc., a diversified owner of ocean going cargo vessels, announced today that it has entered into agreements with unaffiliated third parties to acquire:

• one 113,644 DWT Aframax tanker currently under construction in South Korea. The Company expects to take delivery

Expectations at the start of the year that 2016 would be a tough one for the oil industry, and in particular for offshore, were on the whole fulfilled. Overall upstream E&P spending globally fell for the second successive year, and

Two days ago, the European Parliament has voted in favour of the inclusion of CO2 emissions from shipping in the EU Emission Trading Scheme (ETS) and the establishment of a maritime climate fund “in the absence of progress at international

Rapid advances in technologies including artificial intelligence, automation, data analytics, and the Internet of Things are transforming the resources sector and could enable major savings for consumers and a much-needed productivity boost for producers over the next two decades, according

The International Chamber of Shipping (ICS) – which represents over 80% of the world merchant fleet – says it is ‘disappointed but not surprised’ by today’s vote in the European Parliament to propose that international shipping (including non-EU flag ships)

The European Union (EU) 2015/757 Regulation has established the basis for measuring and recording carbon emissions and transport data of ocean-going ships. As an accredited inspection body, TÜV SÜD supports shipping companies in the inspection and verification of monitoring concepts

“K” Line's CO2 reduction targets were approved to be scientifically consistent with the level achieving to the “Paris Agreement” set binding 2℃ goal *1 for rise of global temperature and obtained certification from an international initiative, Science Based Target Initiative