Page 104 - Intelligence Limited News Today

While shipping lenders have taken early steps through their Poseidon Principles, aligning portfolios to decreasing CO2 trajectories in line with global targets, this is at times at odds with their beliefs and behaviours in what they are financing, according to a new academic study

Arrival of Euronav’s VLCCs will boost capacity by 30%

MAN Energy Solutions expects e-ammonia to be the most cost effective solution for shipping to cut emissions, with the company aiming to deliver its first ammonia-powered engine late next year

The arrival of the ETS tax could see sharp players in the shipping world divert their cargo to non-EU ports for transhipment in order to cut the tax bill. In response, the EU has said that it will limit itself to monitoring the situation, but it may review the regulation down the line

Stena Bulk has no plans to order new tonnage until at least 2026, but it will consider buying modern secondhand tonnage, says its chief executive. Meanwhile, the tanker operating subsidiary of Gothenburg-based conglomerate Stena AB is still considering plans to either divest or expand its LNG carrier fleet

A tighter-than-expected supply and demand balance points to higher average rate levels for the coming year, Jefferies says

Frontline says future tanker capacity is not reflecting projected trade but the addition of 24 Euronav crude carriers will double Frontline’s VLCC position from the first quarter of next year

China’s failure to overcome its economic headwinds will cost one percentage point of demand growth for dry bulk shipping, according to BIMCO’s estimates

Pyxis Tankers has agreed to acquire a 2015-built kasmarmax from Safe Bulkers. It is the tanker owner’ second dry bulk move since announcing a joint venture with an entity controlled by chief executive Valentios Valentis in September

Slower steaming can absorb some capacity by requiring extra ships on loops. But absent significant scrapping, lay up will need to increase to if freight rates are to become sustainable again