CO2 shipping to surge as offshore storage opportunities expand -analysts
The shipping of CO2 is poised for significant growth by 2030 as the global carbon capture, utilisation, and storage (CCUS) market expands, according to analysts.
Read MoreMalta seen halting EUA trading account applications after influx from shipping sector
Malta has paused accepting applications for carbon trading accounts amid an influx of applications, market participants told Carbon Pulse this week, noting that that the demand was mainly from non-EU shipping companies trying to prepare for the sector’s imminent entry into the EU ETS.
Read MoreMaritime data firm, European utility team up to offer EU ETS management solution for shippers
A maritime data firm has teamed up with one of Europe’s biggest utilities to unveil a web-based EU ETS management solution for shippers being brought into the bloc’s carbon market.
Read MoreAustralia teams up with Japan to reduce CO2 shipping costs
Australia’s Future Energy Exports Cooperative Research Centre (Fenex CRC) has signed with a consortium of Japanese shipping and gas companies to work towards more cost effective shipping of liquefied CO2.
Read MoreTwo ports in North Africa identified as possible carbon leakage hotspots for ships
Two ports in Northern Africa have experienced a jump in activity in the past year in what may be a pre-emptive attempt by ship operators to avoid purchasing EU carbon allowances once the shipping sector is part of the EU ETS in 2024, a piece of additional draft legislation by the European Commission has outlined.
Read MoreCargill-chartered ship makes its first trip with massive, fuel-saving and emissions-slashing sails
Commodity giant Cargill has applied two 37.5 meter high sails on one of its ships that could reduce fuel consumption and CO2 emissions by 30% on an average trip, paving the way for the technology to be used worldwide and reduce the global shipping fleet’s carbon footprint.
Read MoreKorean shipping firms may face $3 bln cost burden under carbon pricing schemes -research
Shipping companies in South Korea may have to bear additional costs of up to 4.9 trillion won ($3.6 bln) if international carbon pricing schemes for the shipping sector are implemented, a report has found.
Read MoreBiofuel test exceeds new shipping emissions reduction standards by over 20%
A biofuel in place of traditional shipping oil has cut emissions by 83% as part of an $18 million trial to abate the shipping sector’s carbon footprint.
Read MoreEU shipping sector’s emissions likely to flat-line in 2024, adding bearish pressure to EUA prices -analysts
Greenhouse gas emissions from the EU’s shipping sector are not likely to reach 2019 levels for the next two years due to lower demand for shipping services as well as the sector’s decarbonisation efforts, analysts predict, exerting additional downward pressure to an already bearish outlook for EUA prices in 2024.
Read MoreMajor companies lagging in efforts to decarbonise shipping industry -report
Some of the world’s largest corporate retailers and carriers need to take responsibility for their emissions and step up to tackle climate change, as current efforts are significantly lacking in several areas, an environmental organisation alliance said in a report published Thursday.
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