Consumers News

US Secretary of the Interior Deb Haaland has announced that the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the U.S. Outer Continental Shelf. The final rule increases certainty and reduces the costs associated with the deployment of offshore wind projects by modernizing regulations, streamlining overly complex processes and removing unnecessary ones…

Green hydrogen producer Lhyfe has launched the first Green Hydrogen Marketplace, on its online portal Lhyfe Heroes.Since 2017, Lhyfe has been working to accelerate decarbonization through major innovations such as the world’s first industrial-scale green hydrogen production site directly connected to a wind farm in 2021, the world’s first pilot platform for producing green hydrogen at sea in 2022, and the digitalization of the sector, since 2022, with the Heroes digital platform…

My brother and I had a discussion about methanol where we concluded that methanol is a promising sustainable liquid fuel for transportation devices when batteries cannot do the job. While Methanol is initially not carbon zero, as long as we focus on developing zero carbon electrical energy, eventually we can produce zero carbon green methanol. Once there is plentiful green methanol, existing methanol vehicles will automatically become zero carbon transportation.The core argument…

Classification society DNV presented Australian green technology, energy and metals company Fortescue with class and statutory certificates for its dual-fueled ammonia-powered vessel Green Pioneer. This marked the culmination of a project that began in 2021, when DNV was engaged by Fortescue to work on the feasibility study and 'Fuel ready (Ammonia)' notation for the vessel’s conversion. DNV's Technology Qualification process provided the framework for the qualification and assurance of the engine modifications, where industry rules were yet to be developed.

Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.China currently has the world's eighth-largest fleet with 33 car-carrying ships, showed data from shipping consultancy Veson Nautical. Japan has the world's largest with 283 ships, followed by Norway's 102, South Korea's 72 and Isle of Man's 61.But Chinese companies have 47 ships on order, accounting for a quarter of all orders globally.

A recent article in The Wall Street Journal claims that the assessment by 74% of poll respondents in election swing states who believe inflation moved in the wrong direction last year is incorrect. The piece went on to state that the respondents’ perceptions were “contradicted by hard economic data”.Like many of us, I just love “hard data”, especially when it’s “economic”.One great aspect of “hard data” is that we must assume it’s correct; otherwise, how could it be “hard”? In fact…

Maritime Developments (MDL) has assisted Saipem in progressing an LNG project offshore Greece, which included work on the connection of Gastrade’s Alexandroupolis floating storage regasification unit (FSRU) to the country’s gas transmission system.The project consisted of a FSRU and a mooring and pipeline system, connecting the floating unit to the Greek National Natural Gas Transmission System (NNGTS).An MDL flex-lay spread was used for the installation of two flexible risers…

Crowley Maritime Corporation has owned and operated a lot of vessels since its founding in 1892. But the latest vessel to join its fleet is unlike any other that has come before it.Crowley’s new harbor tug, eWolf, is unique in that it runs 100% powered by batteries, not diesel engines, meaning it produces zero emissions and nearly no noise. Not only is the vessel the first fully electric tug in the Crowley fleet, but it is also the first of its kind in the United States.Faced with stricter regulations and commercial pressure to prioritize environmental…

KEYS Bunkering West Japan Corporation - a joint venture established by Kyushu Electric Power, NYK Line, Itochu Enex, and Saibu Gas – has taken delivery of KEYS Azalea vessel, said to be Japan’s first LNG bunkering vessel equipped with a dual-fuel engine.The delivery ceremony for the vessel was held on March 28, 2024, at the Yamatomachi Shipyard of Mitsubishi Shipbuilding in Japan’s Yamaguchi Prefecture.KEYS Azalea will provide domestic coastal transport of LNG to consumers in the Kyushu and Setouchi areas and LNG bunkering for oceangoing vessels calling ports in the region.Mitsubishi Launches…

Demopolis Lock—which suffered a recent catastrophic failure—is a cautionary tale for other locks and those in Congress and the White House who may fail to see the urgency and importance of investing in the inland waterways system.The nation’s inland waterways lock and dam infrastructure, largely constructed in the 1930s, has seen modernization and rehabilitation across the system, albeit very slowly. Despite those efforts, lock failures continue, and the risk of failure persists.While…

The BIMCO Container Shipping Market Overview & Outlook for March 2024 has been published, and Niels Rasmussen, BIMCO’s Chief Shipping Analyst, highlights that ship supply is expected to grow on average 9.1% in 2024 and 4.1% in 2025.Rerouting via Cape of Good Hope is assumed to impact the first half of 2024. Ship demand increases an estimated 9.5% in 2024 and falls 0.5% in 2025. The supply/demand balance is expected to tighten in the first half of 2024 but then weaken when ships can return to the Suez Canal routing.According to the IMF…

Rising oil tanker chartering rates due to global shipping disruption are forcing oil shippers to take on longer-term shipping charters, executives said this week at an energy conference in Houston.The global oil tanker fleet must now travel further to get crude to refineries and fuel to consumers. European sanctions have forced Russian exporters to send oil to Asia that would have otherwise gone to Europe. Attacks on vessels in the Red Sea have forced some shippers to sail around…

The U.S. Treasury said on Fridayit has imposed sanctions on Russia's leading tanker group Sovcomflot FLOT.MM, as Washington seeks to reduce Russia's revenues from oil sales that it can use to support its invasion of Ukraine.The Treasury Department's Office of Foreign Asset Control also designated 14 crude oil tankers vessels as property in which Sovcomflot has an interest. It issued a general license allowing the offloading of crude oil, or other cargoes, from the vessels for 45 days."Sovcomflot as a whole…

As zero carbon cargo efforts are progressing, it is becoming more apparent that the lowest hanging fruit is in the last few miles. This is where a large amount of carbon is expended in delivering small parcels to stores and consumers’ doors.This is particularly apparent in dense pack cities like New York City, where delivery vans clog streets and water crossings. The NYC Economic Development Commission recently issued a Request For Expression of Interest in waterborne micro cargo delivery.

The US Federal Maritime Commission (FMC) held an informal public hearing examining impacts from attacks on merchant shipping in the Red Sea and Gulf of Aden on February 7.Opening the hearing, Commissioner Carl Bentzel, voiced concern about safe access through both the Suez and Panama Canals.“What is at stake is severe international economic disruption. The United States is still recovering from the aftershock of the pandemic induced supply chain disruption that that saw 30% increases…

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD.UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions.Shipping companies have diverted ships from the Red Sea since the Iran-aligned Houthi movement…

Weeks of attacks by Iranian-backed Houthi militants on vessels in the Red Sea have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe, carrying around 15% of global sea trade.For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged trade disruption could derail plans by central banks to start cutting interest rates this year.Here are some factors policymakers are considering as they assess the implications of the disruptions.WHAT HAS BEEN THE IMPACT ON THE EUROPEAN ECONOMY SO FAR?In macroeconomic terms…

Disruptions to Red Sea shipping caused by Houthi attacks will push up prices of consumer goods, an executive from port and freight operator DP World said on Tuesday as a missile struck another vessel in the region.The Iran-allied Houthi militia has threatened to expand its attacks to include U.S. ships in response to American and British strikes on its sites in Yemen.Attacks by the Houthis on ships in the region since November have impacted companies and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.

The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals to decarbonize the power grid and combat climate change.But progress slowed in 2023 after offshore developers canceled contracts to sell power in Massachusetts, Connecticut and New Jersey…

Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships, fuel tankers and other commodity haulers throughout the year.That will increase delays and raise costs for retailers like Walmart…

Gastrade’s new floating storage regasification unit (FSRU) has arrived to Greece after completing an almost 10-month conversion at the Seatrium shipyard in Singapore.The FSRU, dubbed Alexandroupolis, sailed away from Singapore on November 26, and has now entered the waters of the Thracian Sea. In the following days, the FSRU will be anchored through a spread 12-point mooring system, ahead of connection to the high-pressure subsea and onshore gas transmission pipeline.The pipeline…

Kenny Ballard has been appointed Mustang Survival’s new President, taking over responsibilities from Juanita Killen, who stepped into the role of Interim President in 2023. Additionally, Lance Richardson takes on the newly created role of VP, Manufacturing and Innovation for the Wing Group, Mustang Survival’s parent company.Ballard brings a wealth of experience from previous executive roles with renowned brands, including Osprey, SwissGear, Wenger Outdoor, Kelty, and, most recently, his own successful consulting firm.

Continued missile attacks on merchant ships in the Red Sea have plunged supply chains into chaos, and consumers around the world will have to pay the price, according to Xeneta.Latest data from the industry analyst shows spot rates in the ocean freight shipping market spiked by 20% since Friday after major shipping liner companies such as Hapag Lloyd, MSC and Maersk announced they are avoiding the Red Sea amid the attacks by Houthi militia.Xeneta chief analyst Peter Sand said…