Maersk Signs Up H&M for Carbon-Neutral Biofuel Trial

Danish shipping giant Maersk says fashion group H&M has become the first company to sign up to trial a new carbon-neutral offering that utilizes the use biofuel to eliminate carbon emissions from shipping. Maersk says the biofuel in the pilot project is the same blend of used cooking oil and heavy which has been tested […]

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IMO 2020’s Supply Chain Impact to Last ‘More than a Year’

By Mike Wackett (The Loadstar) – The path to complying with the IMO’s 0.5% sulphur cap regulations on bunker fuel in six months’ time will be “rocky” for carriers, and leave the maritime industry “shaken” according to new guidance. Several shippers and forwarding agents told The Loadstar at Multimodal in Birmingham yesterday they were more […]

Renewable Energy Sector Hails New York State’s New Climate Plan

By Dave Gregorio NEW YORK, June 20 (Reuters) – Investors, developers and users of renewable energy at an industry conference in New York this week were buzzing about the state’s ambitious plan https://www.reuters.com/article/us-climate-change-new-york/new-york-lawmakers-pass-aggressive-law-to-fight-climate-change-idUSKCN1TK2GT to reduce greenhouse gas emissions to zero by 2050. “New York is leading a path forward with public policy that signals to […]

Iran Exposes Oil’s Sea Change in the Persian Gulf

By Liam Denning (Bloomberg Opinion) –“It is not the role of the United States to take the lead in protecting neutral shipping in the [Persian] Gulf.” That was George Shultz, President Ronald Reagan’s Secretary of State, arguing in early 1987 against granting a request from Kuwait to reflag its oil tankers as American and gain […]

Carnival Cuts 2019 Profit on Cuba Travel Ban, Weak Europe Demand

June 20 (Reuters) – Carnival Corp cut its profit forecast for the year on Thursday, anticipating a hit from the Trump administration’s sudden ban on cruises to Cuba and weakening demand in Europe over political uncertainty, sending its shares down over 7%. The company’s profit warning also dragged down Carnival’s rivals, Norwegian Cruise Line Holdings […]

End of Shipping Alliances Would Send Freight Rates Soaring

By Gavin van Marle in Rotterdam (The Loadstar) – Shipper opposition to deepsea liner shipping alliances may be dangerously misplaced, delegates at the TOC Container Supply Chain event in Rotterdam heard yesterday. Lars Jensen, chief executive and partner of SeaIntelligence Consulting, said efforts by some to bar container lines from operating in alliances, claiming they […]