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Gas Exporting Countries Target 33% Bunker Market Share for LNG by 2050 by Ship & Bunker News Team Thursday February 25, 2021 LNG bunker demand may take up as much as 33% of the total marine fuel market by 2050, according to a forecast from producer coalition the Gas Exporting Countries Forum (GECF). In its latest 11 bcm/year as of 2019 to more than 90 bcm/year by 2050, with its share of the overall bunker market climbing from 3% to 33% over that period. "Demand will accelerate post-2025, as in the mid-term LNG propulsion will face competition from low-sulfur oil products as well as...

INTERVIEW: Maersk Decarbonisation Guru Sets Out Path to Zero Carbon by Jack Jordan, Managing Editor, Ship & Bunker Monday February 22, 2021 Shipping giant AP Moller-Maersk is one of the largest corporate consumers of oil on the planet, and has set itself the target of becoming carbon-neutral in the next three decades. 10.3 million mt of bunker fuel last year, taking up about 4% of total global marine fuel demand. Maersk has been relatively quiet on its decarbonisation plans thus far, while rivals like France's CMA CGM have made big moves into LNG bunkering. But this week the firm announ...

World Economic Forum: Trade Will Keep Global Economy and Society on Track by Ship & Bunker News Team Tuesday January 19, 2021 WEF: heightened global risks. File Image / Pixabay. The Covi-19 pandemic has hurt global economic growth and prompted a rise in global inequalities which means that future economic growth must be more inclusive, president of the World Economic Forum (WEF) Borge Brende said at the launch of the organisation's annual global risk assessment. The report's authors outlined the key risks over a five-to-ten year time frame for the global economy, society and politics. Ca...

Wartsila: Owners Using Pandemic Trade Pause for Retrofits by Ship & Bunker News Team Friday December 25, 2020 With the coronavirus pandemic having slowed global trade this year, Wartsila says owners have been making the best of a bad situation by using the downtime to fit efficiency retrofits  to their vessels. "With half of Wärtsilä's retrofits requiring docking or a period of out-of-service, the unprecedented crisis has offered an economically sound opportunity to upgrade and transform old ships into leaner and cleaner vessels fit for the future," it said. The "glass half full" messa...

COVID has not changed the need to meet IMO's 2030 and 2050 emissions targets.