port-and-ship
Apr 16, 2025
Maritime Executive
The first large vessel designed to transport liquified carbon dioxide (LCO2) was launched in South Korea as the industry for the transport and storage of captured carbon begins to take shape. The vessels are being built for Greece’s Capital Maritime Group which in 2023 announced plans to expand into the developing market.
The launch took place at the HD Hyundai Mipo shipyard in Ulsan, South Korea. With a capacity to transport 22,000 cubic meters of liquified carbon dioxide, the vessels have about three times the capacity of the first LCO2 carriers. Norway’s Northern Lights project took delivery at the end of 2024 of two 7,500 cbm LCO2 carriers built in China and which are currently undergoing commissioning. They will operate in connection with the storage project started as a partnership between Equinor, Shell, and TotalEnergies.
Capital Gas Ship Management Corp. will be managing the four gas carriers being built in South Korea and will place them into the commercial market. The new company will be known as Capital Clean Energy Carriers.
The vessels will measure approximately 525 feet (159.9 meters) in length with a beam of approximately 90 feet (27.4 meters). The vessels are equipped with three “Bi-lobe type storage tanks” that can maintain a low-temperature environment of around -55 degrees Celsius. According to Hyundai, this allows it to stably transport various liquefied gas cargoes such as LCO2, liquefied petroleum gas (LPG), and ammonia (NH3).
The design also enhances the vessels’ environmental performance. They are fitted with Selective Catalytic Reduction systems to reduce Nox emissions. They can use shore power and have ice-resistant design technology (Ice Class 1C) which will improve navigation stability. Capital also reported in 2024 that it was exploring adding onboard carbon capture systems to the vessels.
The construction order was originally placed in 2023 for two vessels and later increased to four gas carriers. HD Hyundai reports the vessel will complete outfitting and trials for delivery at the end of this year. The others are set for delivery in 20026.
The companies cite data from Clarson Research to illustrate the potential market for LCO2 transport. The analysts have written to achieve carbon neutrality, more than six gigatons of carbon will need to be captured and stored annually by 2050. They estimate that 20 percent will need to be transported by sea for storage or reuse. It is estimated that 2,500 LCO2 carriers will be required to meet future demand.
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Hellenic Shipping News
Leading Maritime Charities Partner To Launch Industry-First Programme To Support Neurodivergent Seafarersin International Shipping News
18/04/2025
As part of our ongoing efforts to foster greater equity, diversity and inclusion within the maritime space, NeurodiversAtSea, the Seafarers Hospital Society and The Seafarers’ Charity are delighted to announce the launch of an industry-first project to provide tailored support to neurodivergent seafarers.
The project builds upon research conducted by NeurodiversAtSea which identified a lack of industry support for neurodivergent seafarers, with just two out of 118 survey respondents reporting their employer provided any form of assistance to access formal assessments or diagnosis. Additionally,62% of respondents reported no specific assistance for neurodivergent employees.
By making £9,761 available to UK-based seafarers as part of an initial pilot scheme, this project aims to provide grant funding for seafarers who suspect they’re neurodivergent to pursue a formal diagnosis, enabling them to access reasonable adjustments for exams and from their employer.
With up to 15% of the UK population being neurodivergent, including an estimated 1.2 million autistic individuals and 2.2million with ADHD, alongside other conditions such as dyslexia, dyspraxia and dyscalculia, this project takes an important step towards unlocking an under-utilised talent pool for Maritime within the UK.
Sandra Welch, CEO at Seafarers Hospital Society (Copyright: Seafarers Hospital Society)
The project seeks to provide an alternative to lengthy waits for formal assessments via the NHS, which are up to 3 years in some areas, and will fund formal diagnostic assessments and in some cases expenses related to attending these appointments for; ADHD, autism, dyslexia, dyspraxia, dyscalculia and other specific learning differences. The funds will be administered and distributed by the Seafarers Hospital Society, on behalf of NeurodiversAtSea.
Commenting on the launch, Sandra Welch, CEO of the Seafarers Hospital Society said “Diversity, equity and inclusion are integral to a healthy and happy workplace, which is why we’re delighted to be partnering with NeurodiversAtSea, enabling neurodivergent seafarers to access the right assessments and support whilst working at sea”
Echoing this, Daniel Smith, Founder and Chair of NeurodiversAtSea said “Neurodivergent individuals face countless barriers preventing them from having a fulfilling career at sea. This leads to burnout, and people leaving the industry early. By providing access to a formal diagnosis, we enable neurodivergent seafarers to access support – allowing them to reach their full potential.”
Tina Barnes, Impact Director at The Seafarers’ Charity added: “This important new initiative will enable recognition and support for neurodiverse conditions experienced by seafarers. I am pleased that The Seafarers’ Charity’s trustees have recognised the need to support neurodivergent seafarers with this grant award.”
Source: Seafarers Hospital Societyport-and-ship
18 April 2025
Hellenic Shipping News
Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates From Far East To Mediterranean Increased 6.8%in International Shipping News
18/04/2025
Average spot rates from Far East to US East Coast and US West Coast are flat during April to stand at USD 3951 per FEU (40ft container) and USD 2910 per FEU respectively.
Average spot rates from Far East to North Europe increased 4.8% on 15 April to stand at USD 2457 per FEU.
Average spot rates from Far East to Mediterranean increased 6.8% on 15 April to USD 3270 per FEU.
Average spot rates from North Europe to US East Coast remain flat during April at 2158 per FEU.
Average spot rates on all fronthaul trades are down from 1 January:
Container shipping capacity on trades from Far East to North Europe set to hit all-time high in week commencing 14 April (capacity data based on four week rolling average).
Previous record set during Covid-19 disruption in November 2021 when 336,800 TEU of capacity was offered from Far East to North Europe.
Xeneta analyst insight – record capacity from Far East to North Europe
Peter Sand, Xeneta Chief Analyst:
“We are looking at record-breaking container shipping capacity leaving the Far East for North Europe this week, which means carriers know something is boiling.
“At the same time as record capacity, we are seeing an uptick in spot rates from the Far East to North Europe. This suggests a nervous market, but the demand must also be there to put upward pressure on rates.
“The question is whether this record capacity and rate increase is a consequence of the tariff threat if shippers are redirecting goods from the Far East to Europe instead of the US. What we can say is that this is usually a slack time of year for container shipping, so an uptick in pressure is likely related to the tariffs in some way.
Xeneta analyst insight – congestion in North Europe ports
Peter Sand, Xeneta Chief Analyst:
“We are seeing heavy port congestion in North Europe including Antwerp, Le Havre, London Gateway and Hamburg, but the main cause is likely weather, crane maintenance, labor unrest and strikes, rather than tariffs.
“However, if we are seeing record levels of capacity leaving the Far East this week, there could be carnage by the time these ships arrive in North Europe, if congestion is still high.
“Average transit time from the Far East to North Europe is 55 days, so there could be serious issues on the horizon in June. As we saw in 2024, congestion is toxic for ocean container shipping and can quickly spread across global supply chains.”
Source: Xenetaport-and-ship
18 April 2025
Hellenic Shipping News
Lloyd’S Register And Pusan National University Partnership To Drive Innovation In Liquefied Hydrogen Carrier Technologyin International Shipping News,Shipping: Emission Possible
18/04/2025
The partnership aims to advance liquefied hydrogen carrier technology, promoting sustainable and zero-emission maritime transport.
Lloyd’s Register (LR) has signed an agreement with the Hydrogen Ship Technology Center at Pusan National University (PNU) in Korea, forming an international partnership aimed at advancing liquefied hydrogen carrier technology and cryogenic engineering.
The Memorandum of Understanding (MoU), signed on 16 April at LR’s Busan Office, establishes a strategic collaboration focused on developing liquefied hydrogen as a clean and scalable energy source.
Through this new partnership, LR and PNU will collaborate across a wide range of activities, including joint research and technology development, the exchange of technical expertise, international academic cooperation, and shared policy development. The agreement represents a significant step forward in accelerating the commercialisation of liquefied hydrogen carriers and ensuring that they are designed, built and operated to the highest international safety and performance standards.
PNU, home to Korea’s first university-based institute specialising in eco-friendly ships, is helping to address the challenge. As the lead organisation behind the ‘Hydro Ocean K’ project, the world’s largest liquefied hydrogen carrier currently in development, the university is contributing to the future of zero-emission maritime transport.
Sung-Gu Park, President – North East Asia, Lloyd’s Register, said: “We have taken an important first step towards the development of liquefied hydrogen carriers and cryogenic engineering technology. This agreement will serve as a significant turning point, allowing us to advance in the key areas of the future hydrogen economy through differentiated international exchange activities based on world-class cryogenic technology.”
Dr Jae-Myung Lee, Director of the Hydrogen Ship Technology Center, said: “The collaboration between our university and Lloyd’s Register is a differentiated international exchange activity based on world-class ultra-low temperature technology. It will be an important turning point for further advancement in the utilisation of liquid hydrogen, a key field in the future hydrogen economy.
“We will make joint efforts to create synergies in the development of ultra-low temperature research, an unexplored field for human society.”
Source: Lloyd’s Registerport-and-ship
18 April 2025
Hellenic Shipping News
Dcsa’S Track & Trace Standard Ready For Use In The Port Of Rotterdamin Port News
18/04/2025
Digital Container Shipping Association (DCSA), a neutral, non-profit organisation driving standardisation and digital innovation in container shipping, today announced the Port of Rotterdam has become the first major port to include the DCSA’s industry-leading Track & Trace (T&T) Standard in its Port Community System (Portbase), significantly enhancing container tracking and visibility at one of the world’s busiest ports, and the main gateway to Europe.
This success is the result of a unique collaboration between the Dutch Ministry of Infrastructure, Portbase (the port community system for Dutch ports) and DCSA – as part of the Digital Infrastructure Logistics (DIL) Programme of the Netherlands. The standard allows cargo owners to know the whereabouts and status of their goods from door to door, regardless of the IT systems or logistics service providers they use. It is expected that a future full-scale integration of the DCSA T&T standard in Portbase will ensure export processes are more efficient, reliable and transparent for companies moving their goods through one of the busiest ports in the world.
Already widely used by DCSA’s members, the standard supports more than 180 million monthly container tracking events globally, covering 75% of global container shipping volume. The inclusion of the standard in the Port of Rotterdam confirms the status of DCSA’s standard as the de facto T&T standard for the global container shipping ecosystem. The collaboration will continue as the parties are currently considering implementing DCSA standards in a new Track and Trace service.
A Portbase spokesperson said:
“Integrating the DCSA standards was relatively easy because of the well documented specifications and the use of modern technology, such as API instead of EDI messages. Collaboration with the DCSA team was successful.”
Adriaan Zeillemaker, Deputy Director of Maritime Affairs (and Head of Multimodal Freight Transport and Pipelines) at the Ministry of Infrastructure and Water Management, said:
“This partnership between DCSA, Portbase and the Dutch ‘Data In Logistics’ innovation program illustrates how public-private cooperation functions in the context of digital infrastructure: each party leverages its strengths, and together we build a resilient system.”
Thomas Bagge, CEO of DCSA, said:
“We are proud and honoured that our standards are recognised and being used as a basis for supply chain efficiency and visibility in one of the world’s main trading nations and biggest ports. We look forward to deepening our collaboration with the government and ports in the Netherlands and other markets to increase the widespread adoption of digital standards in the global supply chain.”
Source: Digital Container Shipping Association (DCSA)port-and-ship
18 April 2025
Hellenic Shipping News
Exports Of Sanctioned Russian Arctic Oil To China Set To Rise In April, Sources Sayin Freight News
18/04/2025
Russia’s exports of Arctic oil to China are set to rise sharply in April after sellers offered wide discounts and shipment on non-sanctioned tankers to counter a U.S. embargo, analytics firm Vortexa and two Russian oil traders said.
A tenth of Russia’s seaborne oil exports make up the Arctic oil business disrupted by Washington’s sweeping sanctions levied in January on nearly all tankers carrying supplies of grades such as ARCO, Novy port and Varandey, and producer Gazprom Neft.
To evade the curbs, such cargoes go through international waters off Singapore and Malaysia to be transferred to Very Large Crude Carriers (VLCC) that have not been sanctioned, a process known as ship-to-ship (STS) transfers, before heading to China, said the traders and Vortexa senior analyst Emma Li.
Li estimated at least 4 million barrels of Arctic oil completed STS last week and 16 million more have arrived, or will arrive, in the South China Sea this month.
China’s Arctic oil imports are set to rebound, given the ample supply, but the volume eventually discharged would vary, depending on logistics hurdles and buying interest from Chinese refiners, she added.
Lukoil and Gazprom Neft did not immediately respond to Reuters’ requests for comments.
China imported 25,000 barrels per day of Arctic oil in March, according to Vortexa.
One of the traders said such transfers are used because many Chinese buyers require oil to be shipped on non-sanctioned vessels so as to avoid the risk of secondary sanctions and are willing to pay higher prices for these cargoes.
For example, non-sanctioned VLCC Atila loaded 2.07 million barrels of ARCO from two sanctioned tankers in March in Greater Singapore waters and discharged the cargo at the Dongying port at eastern Shandong province in April, Kpler data shows.
Atila previously engaged in STS transfers for Iranian oil.
Arctic grades are produced in Russia’s northern regions, where harsh weather affects output and logistics, so that setting up an oil project requires gigantic investments.
Light Varandey oil is produced by Lukoil, while Gazprom Neft is a producer of light Novy port and heavy ARCO.
However, these shipments now take two months to reach China as the tankers are travelling via the Suez Canal, with the STS adding to shipping costs, while the shorter North Sea Route (NSR) to China is closed until July, traders said.
“It’s a very long and expensive route,” one trader said. “The only idea is to evacuate barrels.”
Light Arctic oil is offered at discounts against Brent prices, down from premiums previously, the traders said.
India, previously the top buyer of Arctic oil, has cut purchases due to sanctions, traders said. Arctic oil going to India is mostly Varandey supplied by Litasco, they added.
This month, Indian authorities barred a tanker from transferring its Russian oil cargo to another vessel at sea.
Other Arctic oil buyers include Syria, with the first shipments taking place earlier this year, and Myanmar.
Source: Reutersport-and-ship
18 April 2025
Hellenic Shipping News
Trade War Fallout: Cancellations Of Chinese Freight Ships Begin As Bookings Plummetin International Shipping News
18/04/2025
U.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance the pullback in orders resulting from President Trump’s tariffs and the escalation of tensions in the trade war.
A total of 80 blank, or canceled, sailings out of China have been recorded by freight company HLS Group. It wrote in a recent note to clients that with the trade war between China and the U.S. leading to a demand plummet, carriers have started to suspend or adjust transpacific services.
Major ocean freight alliance ONE has “suspended until further notice” a route it had previously been planning to bring back in May, which would include ports of Qingdao, Ningbo, Shanghai, Pusan, Vancouver, and Tacoma. Meanwhile, an existing route is planning to cancel its port call at Wilmington, North Carolina.
The impact of the diminished freight container traffic to North America will be significant for many links in the economy and supply chain, including the ports and logistics companies moving the freight. If each sailing was carrying 8,000 to 10,000 TEUs (twenty-foot equivalent units), that would equal a decline in freight traffic of between 640,000-800,000 containers, and lead to decreased crane operations at the ports, lower fees that could be collected, and declines in container pick-ups and transports by trucks, rails, and to warehouses for storage.
The World Trade Organization warned on Wednesday that the outlook for global trade has “deteriorated sharply” in the wake of Trump’s tariffs plan. JB Hunt shares hit their lowest level since November 2020 after commentary during the trucking company’s earnings call about the uncertainty from tariffs.
“We have no way of knowing how significant this drop in orders will be on vessel schedules,” said Alan Murphy, CEO of Sea-Intelligence. “There are no models to extrapolate this. What I can tell you is the majority of containers on the vessels servicing the Asia to U.S. trade routes is China. We won’t go to zero containers, but we will see a decrease in containers and as a result, in the future, we will see a massive raft of blank sailings announced.”
China accounts for approximately 30% of all U.S. containerized imports (down from 37% in 2018), but accounts for approximately 54% of all U.S. containerized imports from Asia (down from 67% in 2018).
Bruce Chan, director of global logistics & future mobility for Stifel, said the tariff policy has created significant uncertainty with respect to consumer demand, and retailers have been positioning their businesses conservatively with inventory, especially given “scar tissue” from the recent overstock after the post-Covid supply chain squeeze from 2021-2022. “That uncertainty is beginning to manifest in blanked container ship sailings on core eastbound transpacific lanes, in our view, opening the potential for a double-digit decline in inbound containerized imports as early as next month,” he said.
Booking volumes from the last week of March to first week of April across global and U.S. trade lanes plummeted. There were sharp decreases in bookings across several categories, including apparel & accessories; and wool, fabrics & textiles, both down over 50%. Major product categories from China that are moved in containers include apparel, toys, furniture, and sports equipment, all of which are subject to steep tariffs.
As a result of the decrease in containers, ocean carriers will not only cancel vessels, but also adjust or cancel vessel routes commonly called “vessel strings,” such as the ONE service from China to Vancouver and Tacoma. These routes dedicating vessels to move the ocean freight at specific ports take months of planning. The elimination of vessels also impacts U.S. exports bound for Asia and relying on ships traveling in both directions.
Ocean carriers need to move full vessels to generate a return on investment, but it is not in their best interest to use large vessels if they cannot be filled. To ensure vessels are used at full capacity, carriers have a number of ways to alter the vessel strings. Stretching out ship arrivals by canceling sailings is an option for container volume to better match capacity. According to Murphy, 99% of vessel services are weekly and it takes a vessel approximately seven weeks to make a round trip.
“During Covid, ocean carriers parked their vessels for maintenance,” Murphy said. “Ocean carriers can also blank (cancel) a sailing, omit vessel strings entirely, use smaller vessels, or slow steam the vessels where they are traveling longer.”
These measures will cut the available vessel capacity for containers, according to Murphy, which helps remaining ships to be filled, with uncertain implications for overall pricing in the ocean freight business. While a decline in sailings could lead to a drop in prices, during Covid, blank sailings were identified by shippers around the world as a reason for container rates that spiked as high as $30,000. In that case, shippers say the ocean carriers canceled sailings for longer than needed.
Vietnam continues to gain on China
The global supply chain demand and pricing situation remains fluid and subject to sharp short-term swings tied to tariffs policy. As Chinese trade comes under strain, a key metric in ocean freight rates shows Vietnam surging in early April.
The “mid-low” ocean rates, which represent the costs of shipping goods for a larger-sized shipper on a particular ocean route, have jumped by 43% since March 30 for Vietnam. Xeneta calculates the market mid-low and market mid-high segments by looking at the values of the 25 and 75 percentiles of a trade lane rate.
“The fact that the lower end of the market has been rising shows the heat is on,” said Peter Sand, chief analyst at Xeneta. He said that is continuing after Trump’s decision to pause what he called “reciprocal” tariffs on countries other than China for 90 days.
“Shippers large and small all have to pay up for frontloading, as the ‘pause’ made the pulling forward of freight possible again,” Sand added.
This demand from U.S. shippers importing goods can be seen in the increase in container shipping spot rates on the Ho Chi Minh City to Los Angeles ports route, jumping by 24% going into April.
According to data compiled by Xeneta for 2025, the spread between China’s largest container port, Shanghai, and Vietnam’s largest container port, Ho Chi Minh City, has also narrowed per forty-foot equivalent unit (FEU) for shipments to the ports of LA and Long Beach.
Even with increased costs for shippers, they will continue to bring in imports from non-China nations because the situation remains highly unpredictable, Sand said. “There is every possibility the higher tariffs come into effect 90 days from now or even at an earlier stage,” he added.
Source: CNBCport-and-ship
18 April 2025
Hellenic Shipping News
Advanced Shipping & Trading – Weekly Shipping Market Report Week 16, 2025in Weekly Shipbrokers Reports
18/04/2025
Chinese Maritime Transport have committed their Capesize “China Progress” 174/2006 SWS, China (SS/DD 06/2026)
Source: Advanced Shipping & Trading S.A.port-and-ship
18 April 2025
Hellenic Shipping News
Record-Breaking Carbon Emissions In Ocean Container Shipping: Here’S What Shippers Need To Knowin International Shipping News,Shipping: Emission Possible
18/04/2025
Latest data reveals global ocean container shipping emitted all-time high carbon emissions in 2024, driven largely by the impact of conflict in the Red Sea.
The data, released by Xeneta and Marine Benchmark this week, is a timely reminder that, while the geo-political climate is heating up due to the US tariff announcements, we must not forget the actual climate emergency and the work that needs to be done in supply chains to combat it.
With emissions heading in the wrong direction, it raises fundamental questions around whether the International Maritime Organization’s (IMO) target of net zero by or around 2050 is remotely achievable. Shippers must also understand the impact emissions regulations will have on their business and the role they can play in reducing carbon in supply chains.
Record-breaking emissions
Global container emissions increased 14% in 2024 to 240.6m , comfortably surpassing the previous record of 218.5m tons of carbon set in 2021.
To be clear, this record-breaking statistic should not be used as a stick to beat the maritime freight industry with because it is largely due to ships sailing longer distances around the Cape of Good Hope following the escalation of conflict in the Red Sea in December 2023.
A new record high is the inevitable outcome of these diversions, both in terms of the increase in transport work and the record-high demand of laden containers being moved in 2024 as shippers responded to the Red Sea crisis by frontloading imports. Overall transport work (a measurement of tons of cargo moved multiplied by nautical miles sailed) increased 18% in 2024.
Emissions on the agenda
The record-high emissions data is a timely reminder of the colossal task at hand following a meeting last week (7-11 April) of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC) in London.
Agreement was reached during the meeting on specific reduction targets on fuel intensity in container shipping, as well as the financial penalties for non-compliance (more details are provided later in this blog).
Biggest increases coming from the biggest ships
Firstly, we must understand the detail behind the record-breaking emissions in 2024.
The biggest increases in carbon emissions came from the largest ships, with these also the ones to experience the biggest increases in transport work.
Emissions from ships between 14 500 and 20 000 TEU hit 24.2m tons in 2024. This is up 7.3m tons (+43%) compared to 2023.
Ships over 20 000 TEU also saw large increases, up 35% from 2023 to 19.6m tons.
The two categories of ships over 14 500 TEU accounted for 18% of total CO2 emissions from the container shipping fleet in 2024, but this statistic is cast in a different light when we consider they make up 25% of total global capacity.
While ships over 14 500 TEU may have had the biggest year-on-year increases, they are perhaps not the main cause for concern.
That is because ships between 8 000 and 12 000 TEU have a much higher share of total emissions.
A higher base in 2023 means the 51.3 million tons of CO2 emitted by this category of ship in 2024 is only up 8% year-on-year. However, these ships account for more than fifth of total emissions despite only making up 20% of global container shipping capacity.
The disproportionate relationship between share of shipping capacity and share of emissions is explained by bigger ships tending to be newer and therefore much more carbon efficient.
Increase in transport work explains much of the emissions growth – but not all…
Across many ship sizes the increase in emissions in 2024 is within a few percentage points of the increase in transport work.
For example, ships between 14 500 and 20 000 TEU saw transport work increase 43%, in line with its growth in emissions.
This significant increase in transport work has in part been made possible by fleet growth of 26% between December 2023 and December 2024 for ships with capacity between 14 500 and 20 000 TEU.
There are however some exceptions where transport work growth and emissions growth aren’t aligned.
On the positive side, emissions increases for smaller size ships are lower than transport work. This is driven by improved efficiency through higher capacity utilization and stable (if not slightly decreasing) average sailing speed.
On a less positive note, the biggest ships over 20 000 TEU saw emissions increase 35% in 2024, more than double the 16.6% transport work growth.
That gap is explained by falling efficiency for these larger ships.
Firstly, sailing speed increased 5% in 2024, which adversely impacts fuel efficiency.
Secondly, the ships saw a drop in utilization, which is measured in tons of cargo carried multiplied by nautical miles sailed divided by TEU capacity in tons multiplied by nautical miles sailed. Or in more simple terms, how much cargo ships carried compared to how much they could have carried based on its capacity.
This utilization measure has fallen by almost 10 percentage points for the biggest ships compared to 2023.
The explanation is quite straightforward – total capacity offered by the largest ships in the fleet has increased, while at the same time, demand growth on key backhaul trades slowed.
This meant ships were even less full on these return legs than they were previously, which eats into a ship’s annual utilization.
Fronthaul volumes, measured in TEU, grew 9.5% in 2024, while demand on backhaul trades rose only 0.9%.
Regulation is coming
Turning attention back to the IMO agreement in London last week, a key standard in this new regulation will be the fuel intensity used by global shipping. This is measured on a well-to-wake basis (including the full life-cycle of the fuel).
Starting in 2028, ships must lower their fuel intensity by a certain percentage compared to the baseline set in 2008.
There are two tiers when it comes to the reduction factors:
Tier 1 – the base target
Set at a 4% reduction in 2028. A ship will pay USD 380 for every ton of GHG emissions above the base reduction target.
Tier 2 – the compliance target
Set at 17% reduction in 2028. A ship falling between the base target and compliance target will pay USD 100 for every ton of GHG emissions or buy remedial units. Any ships outperforming the compliance target will earn surplus units, which can be banked for two years, or traded with non-compliant ships.
Reduction targets will increase every year, with expectations of a 65% reduction in carbon intensity by 2040. Plenty of details still need to fall into place, many of which should come in October 2025 when the agreement is expected to be finalized, and adopted.
While opinions on the deal are mixed, carriers now have more certainty on the path to decarbonization.
Carbon reduction strategy for shippers
We must be realistic when it comes to priorities right now. With the threats of US tariffs on every nation in the world and more than 100% from China, it will be difficult to get carbon emissions in supply chains onto the board meeting agenda at the moment.
However, while there are currently massive financial pressures for shippers, they can still include carbon reduction in their freight procurement strategy.
The carriers are anonymized for this blog (Xeneta customers have visibility of Carbon Emissions Index data in the platform), but it is clear there is a significant spread in performance.
It is important to stress that lower emissions do not always equate to lower freight rates. While it is understandable shippers will be prioritizing the optimal rate during negotiations for their next contract, this does not mean they cannot also factor in carbon emissions, especially when they are choosing between two carriers with similar price and service delivery.
This data is also essential for those shippers looking to move more goods via ocean rather than the more expensive and more carbon intense air cargo.
Source: Xenetaport-and-ship
18 April 2025
Hellenic Shipping News
Eu Needs Higher Lng Imports To Meet Summer Demand, Storage Targets: Acerin Freight News
18/04/2025
Meeting EU gas demand this summer and refilling storages to 90% will only be feasible if LNG imports increase by around 20% above 2024 levels and pipeline supplies operate at a high level, European regulatory body ACER said April 16.
In a market outlook, ACER also warned that unfavorable seasonal spreads could deter summer storage injections amid ongoing EU discussions around more storage target flexibility.
Under current EU rules, member states are required to fill their storage sites to 90% of capacity by Nov. 1, though a handful of countries have derogations from the target.
ACER said that achieving the 90% target would require “large” LNG imports, adding that LNG supply was assumed to average 10 Bcm/month — in line with 2023 trends and 22% higher than last year.
“Part of these extra volumes have been already contracted to offset the drop in Ukrainian Russian pipeline flows,” ACER said.
Storage levels
The EU ended the past gas winter on March 31 with storage sites filled to just 33.8% of capacity, according to data from Gas Infrastructure Europe.
Refilling storage this summer could be complicated by current storage economics, ACER said.
“While the market has been highly volatile, summer 2025 prices have consistently exceeded winter 2025/2026 prices in the last months,” ACER said, with the spread peaking at around Eur6/MWh in January.
“Although the spread settled in the last part of the winter, it discouraged injections for summer 2025,” it said.
According to price assessments by Platts, part of S&P Global Commodity Insights, the Q3 2025 TTF price is now trading at a slight discount to Winter 25.
The Q3 2025 contract was assessed on April 15 at Eur34.85/MWh compared with a Winter 25 assessment of Eur35.56/MWh.
But ACER said that while summer prices had reversed to a slight discount, the spread was still thinner than storage costs.
EU target
In its outlook, ACER also listed the pros and cons of maintaining the status quo in terms of the 90% gas storage target.
On the pro side, it said revising the storage targets now would set a “risky” precedent and undermine trust in regulations while creating significant risks for companies that had already made financial commitments.
It added that higher summer prices were necessary to attract sufficient gas this summer and while they may cause some short-term harm, they could help prevent a more severe crisis caused by insufficient storage next winter.
In its list of factors supporting a change in the targets, ACER said lowering the filling target would ease the seasonal spread and reduce summer 2025 prices.
It added that a 90% storage level was less critical in 2025 than it was in the past as gas demand has dropped more than 20% since 2022.
It also said that capacity-based subsidies could be more efficient than commodity support measures.
The European Council on April 11 laid out its negotiating position on the European Commission’s proposal to extend the storage regulation which it published on March 5.
The Council said the 90% target should be reached anytime between Oct. 1 and Dec. 1, instead of the current Nov. 1. deadline.
It also said that intermediary storage targets for each member state in February, May, July and September should be indicative to leave sufficient flexibility for market participants throughout the year.
And, it said, in the event of unfavorable market conditions, member states should be able to deviate by up to 10% from the filling target.
Source: Plattsport-and-ship
18 April 2025
Hellenic Shipping News
Vhbs New Contex Container Ship Time Charter Assessment Index Week 16in Weekly Container Reports Index
18/04/2025
The container market had an overall inactive week in majority of segments, expect perhaps the smallest feeder where demand
Source: Verband Hamburger und Bremer Schiffsmakler e.Vport-and-ship
18 April 2025Hellenic Shipping News
Russian Arctic Oil Exports To China Jump Helped By Sts Transfers, Sources Sayin International Shipping News
18/04/2025
Russia’s Arctic oil exports to China are set to rise sharply this month buoyed by a jump in ship-to-ship transfers at sea to ensure tankers pulling into port are not on U.S. sanctions lists, according to traders and data from Vortexa.
The Arctic oil business accounts for a tenth of Russia’s seaborne oil exports which were hit with widened U.S. sanctions in January on nearly all tankers carrying crude oil grades such as ARCO and Novy Port and on Russian producer Gazprom Neft.
To evade the curbs, ship-to-ship (STS) transfers of cargoes are taking place in international waters off Singapore and Malaysia where cargoes are loaded on to Very Large Crude Carriers (VLCCs) that are not subject to sanctions before heading for Chinese ports, according to traders and Vortexa senior analyst Emma Li.
At least 4 million barrels of Arctic oil completed STS last week and 16 million more have arrived, or will arrive, in the South China Sea this month, Li estimated.
China’s Arctic oil imports are rebounding given ample supply, but the volume eventually discharged will vary depending on logistics hurdles and buying interest from Chinese refiners, she added.
Russian oil exporter Gazprom Neft did not immediately respond to a Reuters’ request for comment.
China’s imports of Arctic oil from Russia in March averaged 25,000 barrels per day (bpd), according to Vortexa.
China has said it opposes unilateral sanctions, which have been imposed by the United States, EU and others aimed at curbing Russian, Iranian, and Venezuela energy revenue.
Yet STS transfers are being used, according to one trader, because many Chinese buyers want to avoid being linked to tankers subject to such sanctions as they are wary of secondary sanctions and are willing to pay higher prices for these STS cargoes.
For example, the VLCC Atila loaded 2.07 million barrels of ARCO from two sanctioned tankers in March in waters off Singapore and delivered the cargo to China’s port of Dongying in eastern Shandong province in April, Kpler data shows.
Atila previously engaged in STS transfers involving Iranian oil.
Arctic grades – ARCO, Novy Port, and Varandey – are produced in Russia’s northern regions, where harsh winter weather affects production and oil projects require huge investment.
These grades are typically shipped from oilfields to floating storage in Murmansk and then shipped to end-users, making it difficult to track exports of each grade.
These shipments currently take two months to reach China as tankers are travelling via the Suez Canal, with the STS adding to shipping costs. The shorter North Sea Route (NSR) to China is closed until July.
“It’s a very long and expensive route,” one trader said. “The only idea is to evacuate barrels.”
Light Arctic oil is offered at discounts to benchmark Brent prices, down from premiums previously, the traders said.
Not all the Arctic oil cargoes are set to find a home soon as some of them are being stored on ships, traders said.
For instance, tanker Fast Kathy loaded Arctic oil in Murmansk on March 14 and has been floating off Port Said in Egypt since April 9, LSEG data showed.
India, previously the top buyer of Arctic oil, has cut purchases due to sanctions, traders said. Arctic oil going to India is mostly Varandey supplied by Litasco, the trading arm of Russia’s Lukoil LKOH, they added.
Lukoil did not immediately respond to a Reuters’ request for comment.
This month, Indian authorities barred a tanker from conducted an STS operation off the port of Mumbai involving a cargo of Russian crude.
Other Arctic oil buyers include Syria, which received its first shipments earlier this year, and Myanmar.
Source: Reutersport-and-ship
18 April 2025Bunker Port News Worldwide
Port Esbjerg Significantly Expands Its Capacity: Fairway Deepened To 12.8 MetresAfter years of preparation and large-scale construction work, the fairway to Port Esbjerg has now been fully deepened. The upgrade enables access for larger vessels, increased cargo volumes, and new strategic opportunities in both the energy and defence sectors.
“The deepening of the fairway marks a major milestone. It expands our overall capacity and unlocks new potential for the future,” says Dennis Jul Pedersen, CEO of Port Esbjerg.
Millions of cubic metres moved
This is a project of significant magnitude. An enormous amount of sand has been dredged, excavated and relocated. In total, 3,702,000 cubic metres of seabed material were moved as part of the project, increasing the water depth from 9.3 to 12.8 metres. While 2.5 metres may not sound like much, the impact is transformative — both nationally and internationally.
“This is a milestone that strengthens our position as an international hub for logistics and energy,” says Dennis Jul Pedersen. CEO of Port Esbjerg.
Commandor Michael Sichler, Defense Attaché at German Embassy in the Kingdom of DenmarkMajor Thomas Sigvardt, Captain for the Danish NavyMorten Jensen, Head of Unit European Climate, Infrastructure and Environment Executive AgencyJesper Frost Rasmussen, Mayor of Esbjerg MunicipalityLieutenant Colonel Shawn Dillingham, Army Attaché at U.S. Embassy in the Kingdom of DenmarkColonel Bruno Costanzo, Attaché de defense at France Embassy in the Kingdom of DenmarkBrigadier Neil Bellamy, Defense Attaché in the British Embassy in the Kingdom of Denmark
Three strategic advantages
1. More cargo, larger vessels:
The increased depth allows Port Esbjerg to accommodate significantly larger and heavier vessels. The port now expects to double its cargo volume over the next decade.
2. Strengthens offshore wind leadership:
Future offshore wind installation vessels and components are becoming larger and heavier. The new fairway ensures that Port Esbjerg can maintain — and grow — its position as Europe's leading port for offshore wind shipments.
3. Enhances military readiness:
The deeper fairway enables Port Esbjerg to receive larger RoRo and military vessels. This significantly enhances the port's strategic importance to NATO and enables faster and more efficient response during periods of heightened readiness.
One of only a few in Europe
With this upgrade, Port Esbjerg joins an exclusive group of European ports capable of handling this class of ships and cargo. The port is now well-positioned to play an active role in the global logistics shifts driven by geopolitical developments and changing global trade patterns.
“We are already seeing that several partners and companies within the maritime sector are in need of ports that can accommodate significantly larger vessels. This is no longer something lying in the future – it is here and now. And now, Port Esbjerg is ready.” says Dennis Jul Pedersen.
EU support and a sustainable footprint
The project received DKK 211 million in funding from the EU's Connecting Europe Facility (CEF). It also paved the way for Port Esbjerg's designation as a strategic node in the EU's Trans-European Transport Network (TEN-T).
The 21.6-kilometre-long fairway through Grådyb has now been fully deepened and a large portion of the dredged material has been reused to expand the southern areas of the port. Environmental impact assessments were carried out in close dialogue with authorities and the public. The entire project was completed on time and below budget.
A foundation for the port of the future
The fairway deepening is part of a broader infrastructure development plan at and around Port Esbjerg. The rail connection to the port area has recently been extended, and new reinforced areas have been established for heavy logistics – with a particular focus on offshore wind. “We have removed a key barrier. We are now even better positioned to serve as a centre for green energy and military logistics. The fairway is more than an engineering project – it is the foundation for our future,” says Dennis Jul Pedersen.
Ready to take responsibility
Søren Gade, Chairman of the Board of Port Esbjerg, highlights the strategic significance: “We have reached a crucial milestone that opens the port to the vessels shaping the future of energy and security. This strengthens not only Port Esbjerg, but also Denmark's role in the green transition and in international defence cooperation.”
Dennis Jul Pedersen concludes:
“This project is complete – but development continues. We now have a port ready to meet the demands of the future, and we look forward to realising its full potential in close partnership with both the energy and defence sectors.”
Source: Port Esbjergport-and-ship
18 April 2025Bunker Port News Worldwide
Sallaum Lines Now Serving Port Of BrunswickSallaum Lines, a global leader in Roll-on/Roll-off shipping, is now serving the Port of Brunswick, Ga.
“We're thrilled to make our first call to Colonel's Island in Brunswick,” said Sam Awad, Vice President of Sales and Operations for Sallaum Lines. “This expansion aligns with our growth strategy and commitment to delivering reliable services to our clients in the U.S. and Africa. Brunswick's strategic location and robust infrastructure make it an ideal addition to our global network.”
With an inaugural visit of the vessel Silver Soul, the Switzerland-based ocean carrier added Brunswick to an extensive Atlantic network linking Europe, North and South America, and Africa. The new service to Brunswick marks an important step in Sallaum's broader strategy to expand its footprint on the U.S. East Coast.
“We are excited to welcome Sallaum Lines to our growing roster of international shipping partners,” said Georgia Ports Authority Chief Commercial Officer Flavio Batista. “The addition of Sallaum Lines will enhance Brunswick's position as a key hub for RoRo services on the U.S. East Coast.”
Sallaum Lines operates a fleet of eight modern Pure Car & Truck Carriers, and has moved more than 4 million Car Equivalent Units globally. The company is set to add six new vessels to its fleet by 2027.
Source: Georgia Ports Authorityport-and-ship
18 April 2025Bunker Port News Worldwide
Landmark Imo Deal Set To Shake Up ShippingThis global mechanism will combine mandatory greenhouse gas (GHG) limits with carbon pricing for the maritime sector and represents a move towards achieving the goals laid out in the IMO’s 2023 GHG Strategy, which targets net-zero emissions from international shipping by or around 2050, supported by interim reduction goals for 2030 and 2040.
Hailed by the IMO as a world-first for any industry sector, the measures are set to apply to large vessels over 5,000 gross tonnage – the segment responsible for about 85% of shipping’s CO2 emissions.
IMO secretary-general Arsenio Dominguez was in a celebratory mood at the end of proceedings: “The approval of draft amendments to MARPOL Annex VI mandating the IMO net-zero framework represents another significant step in our collective efforts to combat climate change, to modernize shipping and demonstrates that IMO delivers on its commitments.”
Framework mechanics
The Net-Zero Framework, to be integrated into MARPOL Annex VI, Chapter 5, is built upon two key pillars: a global fuel standard and an economic measure. MARPOL Annex VI, with its wide ratification covering 97% of global tonnage, provides the existing legal foundation.
The Global Fuel Standard requires ships to progressively decrease their annual greenhouse gas fuel intensity (GFI). Calculated on a well-to-wake basis, the GFI measures GHG emissions per unit of energy used. Ships must meet increasingly stringent GFI reduction targets over time, driving the adoption of lower-emission fuels and technologies.
Complementing this is the Global Economic Measure, introducing a GHG emissions pricing mechanism. Vessels exceeding the permitted GFI levels will need to acquire “remedial units” to cover their emissions deficit. Conversely, high-performing ships using zero or near-zero (ZNZ) GHG technologies, achieving emissions below a tighter ‘Direct Compliance Target’, can earn financial rewards and tradable “surplus units”.
Compliance incorporates flexibility. Ships can meet their obligations by acquiring surplus units from others, using previously banked units, or purchasing remedial units via contributions to a new central fund.
A cornerstone of the economic measure is the establishment of the IMO Net-Zero Fund.
This fund will pool the contributions generated by the emissions pricing. Its revenues are strategically allocated to support the sector’s decarbonisation: rewarding low-emission vessels, funding innovation, research, and infrastructure development (especially in developing nations), supporting training and capacity building under the GHG Strategy, and, critically, mitigating adverse impacts on vulnerable states like SIDS and LDCs, underpinning a just and equitable transition.
Ambition under scrutiny
However, the framework’s approval was met with caution from environmental advocacy groups. Transport & Environment (T&E) acknowledged the step forward but argued the current draft “will fall short of delivering” the IMO’s own 2030 and 2040 targets, and is insufficient for the Paris Agreement’s 1.5°C goal.
T&E’s analysis suggests projected annual revenues of around $10 billion until 2035 will be inadequate to properly incentivise the crucial uptake of scalable ZNZ fuels like green e-fuels.
They estimate funding for ZNZ support could run out by 2032 without additional measures.
Furthermore, T&E raised concerns about the framework’s neutrality on fuel types, warning it could unintentionally favour cheaper, first-generation biofuels from feedstocks like palm oil or soy. They argue reliance on these could undermine genuine emissions savings due to deforestation impacts.
Faig Abbasov, T&E’s shipping director, offered a balanced view: “Multilateralism isn’t dead… the IMO deal creates a momentum for alternative marine fuels.” But he added: “Unfortunately it is the forest-destroying first generation biofuels that will get the biggest push for the next decade. Without better incentives for sustainable e-fuels from green hydrogen, it is impossible to decarbonise this heavy polluting industry.” He concluded that national policies are now needed to support truly sustainable options.
Cleaner air milestone
MEPC 83 also marked progress on regional air pollution, approving a new Emission Control Area (ECA) for the North-East Atlantic. This designation enforces stricter limits on SOx, NOx, and particulate matter emissions, yielding significant air quality, health, and ecosystem benefits.
As the world’s largest ECA, it covers waters off the Faroe Islands, France, Greenland, Iceland, Ireland, Portugal, Spain, and the UK, connecting existing ECAs in Northern Europe and the Mediterranean. The proposal, based on research by the International Council on Clean Transportation (ICCT) and Porto University, was submitted jointly by the EU27, UK, and European Commission. ICCT senior researcher Liudmila Osipova said that the approval “reflects a strong international commitment to cleaner shipping.
It’s a crucial step toward improving air quality and protecting public health and marine ecosystems for the long term.”
The journey for the Net-Zero Framework now enters its formalisation phase. The draft MARPOL amendments will be circulated to Member States before a planned extraordinary MEPC session in October 2025 (MEPC/ES.2) for final adoption. Detailed implementation guidelines are slated for approval at MEPC84 in Spring 2026. Following the standard MARPOL timeline, the regulations are anticipated to enter into force 16 months after adoption, likely in 2027.
While the approved framework provides a structure, its ultimate success will hinge on the detailed negotiations ahead – refining targets, finalising economic measure mechanics, ensuring robust fund governance, and addressing sustainability concerns around fuel pathways. Global shipping will need to watch closely as the final details emerge, as the industry starts to prepare for a markedly different operational landscape.
Source: Baltic Exchangeport-and-ship
18 April 2025Bunker Port News Worldwide
Imo’S Net-Zero Strategy For Global Shipping Starts With Pricing Carbon But It’S Not PerfectOn Friday, 11 April, the Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) agreed upon a set of mid-term measures to get the sector on track to net-zero by 2050. This follows the global shipping regulator’s earlier implementation of short-term measures focused on fuel efficiency. The package is due to be adopted by October 2025, with details and implementation guidelines to be specified and approved in spring 2026, before being included in the MARPOL treaty and coming into force in 2027.
The most important elements of the net-zero framework are:
But the policy fails to introduce a pricing mechanism covering all shipping emissions
Although the willingness to make progress on pricing measures is encouraging, the proposed framework doesn’t introduce full carbon pricing as implemented under the European Union’s ETS for shipping. This would only make bunker fuel less attractive, it generates much more budget to support greening as well. Several market players, including leading global container liners and shippers such as Cargill and Trafigura, have previously advocated for putting a price on all emissions as this could be a forceful instrument to support decarbonisation. Maersk called for a levy starting from $150-200 and preferably even significantly higher to support the transition.
However, this also raises the costs of shipping, and adopting this was probably not achievable at the global level at this point. From an economic point of view, though, this would ultimately be necessary to narrow the gap between bunker fuels and costlier renewable fuels like green methanol and ammonia, and support investments in infrastructure and availability.
Fuel neutrality risks putting biofuels at the forefront
The net-zero framework takes a well-to-wake approach and looks at the greenhouse gas intensity of the fuels that companies use. It’s still unclear which fuel options will be eligible for subsidies and to what amount, but the agreement doesn’t exclude alternative fuels (and includes LNG as well). As such, companies are also allowed to use biofuels, which are often the cheapest and easiest lower-carbon option as they can be used in the existing fleet and don’t require investments in new technology. This will boost demand while demand from the aviation sector also starts to mount. It also raises questions about controversial (first-generation) feedstocks without specific requirements. Moreover, it could distract from investments in alternatives.
Targets fall short of earlier ambitions
In terms of target setting, the IMO previously adopted a goal of reducing GHG emissions by 20%, striving for 30% by 2030, and 70%, striving for 80% by 2040, both compared to 2008. The adopted framework seems to focus on a reduction of at least 8%-21% by 2030, which looks less ambitious. At the same time, total absolute emissions in shipping have risen in recent years, underscoring the need for more decisive action.
All in all, I believe this framework is a step in the right direction, but it should also be seen as a framework to build upon further down the line.
Source: INGport-and-ship
18 April 2025Bunker Port News Worldwide
India Eyes Ending Import Tax On Us Ethane And Lpg In Trade Talks, Sources SayIndia plans to end taxes on U.S. ethane and liquefied petroleum gas (LPG) imports under broader negotiations with Washington as it looks to reduce its trade surplus and ease its tariff burden, three sources familiar with the matter said.
The proposal to get rid of duties for the products used for cooking gas and petrochemical production comes as India mulls scrapping import tax for U.S. liquefied natural gas (LNG) and boosting purchases of the fuel from the United States.
As President Donald Trump’s sweeping duties rattle economies and markets, several Asian countries running trade surpluses with Washington are looking to import more U.S. energy in hopes of avoiding heavier tariffs.
India levies import taxes of 2.5% on ethane, mainly used as a feedstock for producing petrochemicals, and propane and butane, which are used for LPG used mostly as cooking fuel.
In the 2023-24 fiscal year, India imported 18.5 million metric tons of LPG worth $10.4 billion, according to Indian government data, mostly from the Middle East.
It is the No.2 buyer of U.S. ethane after China, according to the U.S. Energy Information Administration, importing 65,000 barrels per day last year, compared with 227,000 bpd for China. However, the U.S.-China trade war has sent tariffs surging and is likely to curtail China’s imports.
Reliance Industries RELIANCE1!, which operates the world’s largest petrochemicals complex, is India’s main buyer of ethane.
New Delhi and Washington agreed in February to work on the first phase of a trade deal to be concluded late this year, with a view to growing bilateral trade to $500 billion by 2030 and reducing India’s $45.7 billion trade surplus.
The Indian government sources said a final decision on duty cuts will be taken by commerce and finance ministry officials. All three spoke on condition of anonymity due to the sensitivity of the talks.
India’s finance and commerce ministry did not respond to Reuters emails seeking comments.
Analysts say there is limited scope for India to increase U.S. ethane imports in the short term due to a lack of ships, storage tanks and crackers that process the liquid gas.
“It will be challenging for the US to increase ethane exports to India, as India seems to have already maximised its use of ethane as a feedstock due to favourable current margins,” said Cheryl Liu, an analyst with Energy Aspects.
India’s steam cracker capacity is around 9.5 million metric tons of ethylene production, which can accommodate up to 2 million tons (92,000 bpd) of ethane as feedstock, she said.
It is logistically easier to import more LPG, said Prashant Vashisth, vice president at Moody’s affiliate ICRA. India imports about 60% of its LPG needs.
Source: Reutersport-and-ship
18 April 2025Bunker Port News Worldwide
Azerbaijan’S January-March Oil Exports Via Btc Pipeline Down 5.5%Oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline, which runs from Azerbaijan through Georgia to Turkey, were down 5.5% year-on-year in January-March 2025 at 6.9 million metric tons, Azerbaijan’s state statistics committee said.
The BTC pipeline is used to export oil from the Azeri, Chirag and Guneshli oilfields, which are operated by BP.
Azerbaijan’s total oil transit in January-March 2025 amounted to 9.0 million tons, of which 76.2% flowed through the BTC.
The volume of transit oil sourced from other countries such as Kazakhstan and Turkmenistan via the BTC fell to 1.153 million tons in January-March from 1.400 million tons in the same period of 2024, the data showed.
Source: Reuters (Reporting by Nailia Bagirova; Editing by Eileen Soreng)port-and-ship
18 April 2025Marine Insight
World’S Largest Liquid Carbon Dioxide Carrier Launched At Ulsan ShipyardHD Hyundai Mipo, a subsidiary of HD Hyundai Shipbuilding, has launched the world’s largest liquefied carbon dioxide (LCO2) carrier at its Ulsan shipyard.
The launching ceremony for the vessel, which can carry up to 22,000 cubic meters of LCO2, was recently held at the company’s headquarters.
This vessel is the first of four LCO2 carriers ordered by Greece-based Capital Clean Energy Carriers Corp. The ship measures 159.9 meters in length, 27.4 meters in width, and 17.8 meters in height.
Previously, commercial LCO2 carriers were limited to a 7,500 cubic meter capacity, making this new vessel the largest of its kind globally.
The ship is designed with three Bi-lobe type storage tanks, capable of maintaining temperatures as low as -55°C. This allows it to safely carry a variety of liquefied gases including carbon dioxide, liquefied petroleum gas (LPG) and ammonia (NH₃).
The ship has been fitted with several advanced features like a land based power supply system (Alternative Marine Power) and a selective catalytic reduction device to reduce nitrogen oxide emissions.
It also features ice-resistant design technology (Ice Class 1C), enhancing its navigational stability in harsh conditions.
The vessel will undergo final outfitting and sea trials before being delivered by the end of this year under the supervision of Capital Gas Ship Management Corp.
According to UK-based Clarkson Research, achieving global carbon neutrality by 2050 will require capturing and storing over 6 gigatons of carbon annually.
About 20% of this amount, roughly 2,500 LCO2 carriers, will need to be transported by sea. HD Hyundai aims to capitalise on this growing demand using domestic technology and innovation.
An HD Hyundai representative said that they are actively working on eco-friendly technologies to remain competitive in the global shipbuilding and marine industry.
HD Hyundai Mipo has also invested in research infrastructure.
In April last year, along with other HD Hyundai Shipbuilding affiliates, the company established a ‘ship carbon neutral R&D demonstration facility’ at HD Hyundai Heavy Industries’ Ulsan base.
The facility is being used to test the safety and efficiency of cargo systems and to develop new welding materials for storage tanks.
Reference: HD Hyundai Mipo
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In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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17 April 2025Marine Insight
North Korea Ships 16,000 Containers Of Munitions To Russia For War With UkraineA recent investigation by Reuters and the UK-based Open Source Centre (OSC) has revealed that Russian artillery forces have become heavily dependent on North Korean ammunition.
According to Russian military documents and open-source research, nearly all artillery munitions used by Russia in the ongoing conflict are now supplied by North Korea.
Between September 2023 and March 2025, four Russian-flagged vessels, namely, Angara, Maria, Maia-1, and Lady R, made a total of 64 trips between North Korea and Russian ports.
These ships carried around 16,000 containers from the North Korean port of Rajin to Russia’s Vostochny and Dunai ports.
The containers are estimated to include between 4 to 6 million artillery shells, which were later transported by rail to ammunition storage sites near the front lines in Ukraine.
This massive supply from North Korea contrasts sharply with Russia’s domestic production of artillery shells. In 2024, Russia is believed to have produced only about 2.3 million shells, according to Ukrainian and Western officials.
Despite the evidence, the Kremlin denied any arms trade with North Korea in October 2023, stating there was no proof of such activities.
However, Reuters reviewed at least six Russian artillery unit reports showing that some units relied on North Korean munitions for up to 100% of their shelling operations in Ukraine.
Three other reports did not mention North Korean shells.
Defense expert Konrad Muzyka from the Poland-based Rochan Consulting noted that North Korean supplies played a key role in allowing Russia to maintain its operational pace on the battlefield since late 2023.
Ukraine’s Defense Intelligence Agency (GUR) also confirmed the importance of these supplies, stating that Russian artillery firepower would have been reduced by half without support from North Korea.
Hugh Griffiths, the former coordinator of the UN panel overseeing sanctions on North Korea, added that President Vladimir Putin would struggle to continue the war without Chairman Kim Jong Un’s military backing.
The OSC and Reuters confirmed the North Korean arms shipments through a combination of satellite imagery, verified social media footage, intercepted Russian military reports, and input from three senior Ukrainian government and military officials.
North Korea has also delivered ballistic missiles, long-range artillery, and multiple-launch rocket systems to Russia.
This represents the most substantial direct military support Russia has received for its war efforts, alongside Iran’s drone technology and China’s economic assistance.
The weapons partnership between Moscow and Pyongyang first gained attention in 2023 but became more critical recently when North Korean military personnel, equipment, and ammunition were sent to help Russian troops push back Ukrainian forces from the Kursk region.
By January 2025, approximately 4,000 North Korean soldiers had been killed or injured in fighting in Kursk, according to a South Korean security source.
North Korea later sent an additional 3,000 troops in February.
Ukrainian military intelligence chief Kyrylo Budanov reported that since late 2024, North Korea has supplied Russia with 120 self-propelled long-range artillery systems and 120 multiple-launch rocket systems.
Some of this equipment was recorded by Ukrainian drones operating in Kursk.
Although Western nations, including a Czech initiative to deliver 1.6 million shells, have supported Ukraine militarily since Russia’s full-scale invasion in February 2022, that aid has been inconsistent and increasingly uncertain.
No Western country has sent soldiers to fight in Ukraine.
North Korea’s delegation at the United Nations in New York and Geneva, its embassy in London, Russia’s Ministry of Defense, and South Korea’s Ministry of National Defense and National Intelligence Service did not respond to Reuters’ requests for comments on these findings.
Reference: Reuters
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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17 April 2025Marine Insight
First Ship-To-Ship Lng Bunkering Completed At Abu Dhabi’S Khalifa PortAD Ports Group, the leading logistics and port operator in the UAE, has successfully carried out its first ship-to-ship (STS) liquefied natural gas (LNG) bunkering operation at the deep-water Khalifa Port.
This makes Abu Dhabi a key hub for alternative marine fuels and sustainable shipping practices.
The operation involved the LNG bunker vessel Green Zeebrugge, which supplied LNG to the container ship MSC Thais while it was berthed at Abu Dhabi Terminals.
This STS bunkering took place as part of a similar operation, where both cargo handling and LNG transfer were carried out at the same time.
The bunkering was facilitated by Monjasa, a global marine fuels provider.
The successful bunkering shows AD Ports Group’s capability to manage complex port operations by integrating cleaner fuel solutions within its infrastructure.
It also supports the global maritime sector’s shift toward low-emission fuel alternatives.
CEO of Abu Dhabi Maritime and Chief Sustainability Officer at AD Ports Group, Captain Saif Al Mheiri, said the group and Monjasa are committed to maintaining the highest environmental and safety standards.
He said that reliable access to a diverse fuel mix is essential for shipowners looking to meet their decarbonisation goals. Mheiri added the Group will keep promoting sustainable solutions to support global climate goals.
LNG is increasingly being seen as a cleaner marine fuel option. It produces lower levels of greenhouse gases, sulphur oxides, nitrogen oxides, and particulate matter compared to conventional marine fuels.
AD Ports Group and Monjasa plan to extend LNG bunkering services to other commercial ports in Abu Dhabi, including services for cruise ships at Zayed Port.
They will also offer a full range of marine fuels such as Marine Gas Oil (MGO), Very Low Sulfur Fuel Oil (VLSFO), and High-Sulfur Fuel Oil (HSFO).
The recent STS LNG bunkering operation followed global standards and protocols set by leading maritime organisations, including the International Maritime Organisation (IMO), International Association of Ports and Harbours (IAPH), International Organisation for Standardisation (ISO), and Society of International Gas Tanker and Terminal Operators (SIGTTO).
Through this initiative, AD Ports Group is not only contributing to cleaner shipping operations but also supporting the UAE’s Net Zero 2050 Strategy.
Reference: AD Ports Group
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17 April 2025