China Is Days Late in Releasing Trade Data as US Shipping Slumps
China is yet to announce regular statistics on trade flows for last week, delaying a closely watched data set as firms cut back on exports to the US.
Mitsui O.S.K. Lines, Ltd. (MOL) and Chevron Shipping Company LLC have announced plans to install the Wind Challenger, a hard sail wind-assisted propulsion system, on a new LNG carrier.
The collaboration marks a significant step towards reducing carbon emissions in maritime transport.
The 174,000 cbm capacity vessel, currently under construction at the Geoje Shipyard of Hanwha Ocean Co., Ltd., is scheduled for delivery in 2026. It will be the world’s first LNG carrier equipped with a Wind-Assisted Ship Propulsion System, demonstrating the industry’s commitment to innovative solutions for environmental challenges.
The Wind Challenger technology, developed by MOL and Oshima Shipbuilding, utilizes unique telescopic sails to reduce fuel consumption and greenhouse gas emissions. The system’s design aims to minimize impact on existing LNG carrier structures while maintaining safety and operational efficiency.
“This is another example of using novel approaches in hard-to-abate sectors to reduce carbon intensity in our LNG fleet,” said Barbara Pickering, President of Chevron Shipping Company.
Takeshi Hashimoto, President and CEO of Mitsui O.S.K. Lines, highlighted the project’s alignment with the company’s environmental goals: “Achieving GHG reduction in the maritime transport of LNG, which is increasingly in demand worldwide as a transition fuel, is a very important mission for us. This project will undoubtedly be a significant milestone towards achieving ‘net zero GHG emissions by 2050’.”
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