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Carbon capture and storage (CCS) is not a novel concept. Many of the early facilities were developed to be a direct source capture from power generation or gas processing plants with CO2 storage sites nearby (with first operations dating back to 1972!). The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
The IMO’s Sub-Committee on Ship Systems and Equipment (SSE 5) meeting will concentrate on saving seafarers’ lives by improving regulation on lifesaving appliances. Further new regulations on lifting appliances and anchor handling winches, cold ironing and watertight doors will be discussed in detail.
BIMCO has started a discussion with members with the aim to provide a set of definitions that are practical and clear to stakeholders in the shipping industry when discussing climate change.
Shipowners are faced with a number of important decisions in terms of investment and trading if they want to do business within the future sulphur limits of Emission Control Areas (ECAs). The deciding factors influencing the investment decision for installation of a scrubber are the fuel cost spread and the time spent in an ECA. In this article, BIMCO has tried to abridge the issue to facilitate decision making.
BIMCO has started a discussion with members with the aim to provide a set of definitions that are practical and clear to stakeholders in the shipping industry when discussing climate change.
The spread between very-low sulphur fuel oil (VLSFO) and high-sulphur fuel oil (HSFO) has widened following Russia's invasion of Ukraine. The HSFO price, however, could rise if Russian volumes coming into the market start declining due to sanctions.
BP has recently announced its plan to be a net-zero company by 2050. BP wants to cut overall emissions by 30-35% by 2030 from 2019 levels. Weekly tanker market report by Gibson Shipbrokers.
