Cargo backlog at Bangladesh eases as carriers bring in more ships
Container lines serving strained Bangladesh supply chains are making every effort to clear up the ...
WMT: JD STAKE SALEWTC: EBITDA MARGIN FOCUSWTC: FLYING HIGHTSLA: DUTY-BOUNDUPS: NO FAITH NO MORELOW: DISAPPOINTING INTERIMS FWRD: RALLYING DSV: STILL AT 'LUND DAY ONE' LEVELSZIM: BEARISH DESPITE THE RALLY BA: NOT AGAINGM: JOB CUTSZIM: SURGING ZIM: TAX RATE UPSIDEZIM: USE OF CASH UNDER SPOTLIGHT ZIM: BIG VOLUME JUMP QUESTIONED ZIM: TRANSPACIFIC AND LATIN AMERICA MAIN DRIVERS ZIM: 'PARTICULARLY PROUD'
WMT: JD STAKE SALEWTC: EBITDA MARGIN FOCUSWTC: FLYING HIGHTSLA: DUTY-BOUNDUPS: NO FAITH NO MORELOW: DISAPPOINTING INTERIMS FWRD: RALLYING DSV: STILL AT 'LUND DAY ONE' LEVELSZIM: BEARISH DESPITE THE RALLY BA: NOT AGAINGM: JOB CUTSZIM: SURGING ZIM: TAX RATE UPSIDEZIM: USE OF CASH UNDER SPOTLIGHT ZIM: BIG VOLUME JUMP QUESTIONED ZIM: TRANSPACIFIC AND LATIN AMERICA MAIN DRIVERS ZIM: 'PARTICULARLY PROUD'
Recent shipowner behaviour over LNG has re-ignited a clash between the fuel’s opponents and the shipping industry at large.
UCL’s Professor Tristan Smith says he is sceptical of the new momentum in LNG and that the container lines were copying one another, “perhaps because none of them are brave enough to read the IMO’s revised strategy, or really figure out what it means for rate of change of technology”.
This was “bizarre”, he said, in light of the fact that “…last year the IMO made it clear it was going to set its mid-term measures to deliver 50%-60% GHG intensity reduction in 2030, and 90% lower GHG intensity reduction in 2040.” Even the most optimistic models put LNG’s GHG reduction at 23%, using cutting-edge engine technology tuned for the fuel.
“I can’t see how, under realistic biofuel prices, it will be possible to competitively operate a dual-fuel LNG asset into the 2030s,” he said.
Under CEO Soren Skou, Maersk told The Loadstar in 2023 LNG was “not a fuel of the future for our fleet”, and that the shipping line would “invest in technologies and innovation that can develop new green alternatives to fossil fuel”.
However, the shipping giant has this year made a controversial u-turn on that position, under the new leadership of Vincent Clerc.
A spokesperson for Maersk told The Loadstar this month the company expected bio-methane to be available in greater quantities than anticipated, adding “…we see promising developments for availability of liquified bio-methane, though its full scaling abilities are yet to be met”.
Bio-methane is the carbon-neutral version of LNG, and its advocates say there is a “clear pathway” from fossil LNG to bio-LNG in the near future.
However, available evidence seems to suggest that supplies of bio-methane will be similarly constrained.
“Future large-scale bio-methanol is predominantly produced from dry feedstocks,” explained the Maersk spokesperson. “These feedstocks are, of course, limited in supply and scale, but we still see significant scaling potential of both pathways.”
OceanScore late last week highlighted it would be possible to overcome EU Emissions Trading System (ETS) penalties of €2,400 per tonne of fuel burned – rising to €3,360 by 2029 – using pooling, a fleet of high-emitting ships including one low-emitter.
“A significant number of shipping companies we have spoken to, especially smaller ones, are not considering pooling, but simply intend to pay the penalty,” said OceanScore MD Albrecht Grell. “But this, as well as pushing compliance deficits into future years through borrowing that will incur interest, will prove increasingly costly in the long run.”
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