An open letter signed by more than 100 shipping companies and environmental organizations is urging the International Maritime Organization to impose mandatory speed limits for ships as a way to reduce harmful emissions from shipping. The letter states that effectively addressing climate change is quite possibly the greatest challenge of lifetime. In response to this crisis, … [Read more...]
Warning to Shippers: Expect More Slow Steaming, Transshipment After IMO 2020
By Mike Wackett (The Loadstar) - Analysts predict that the impact of IMO 2020 will mean slower ships and more transhipment. This would be a further blow to shippers who also face additional costs to compensate carriers for using cleaner fuel from 1 January. Shippers may dislike surcharges, but they universally hate transhipment, as it introduces another level of risk to … [Read more...]
Environmental Group Proposes Speed Limits for Ships to IMO
By Alexander Whiteman (The Loadstar) - Mandatory speed limits could be shipping lines’ best hope of achieving the IMO’s 2030 emissions reduction targets. Shipping officer for lobby group Transport & Environment Faig Abbasov told The Loadstar slow-steaming could “single-handedly” achieve the target. “We’re proposing mandatory limits, based on ship type,” said Mr … [Read more...]
IMO’s 2020 Sulphur Cap Seen Ushering In New Era of Slow-Steaming
By Alex Longley, Firat Kayakiran and Irene García Pérez (Bloomberg) -- If you happen to be at the beach this summer, make a mental note of any giant freighters crossing the horizon. In a few years’ time those same ships will probably be moving just a fraction slower. If the slowdown does happen -- and the likes of Citigroup Inc. say it will -- then the wider consequences … [Read more...]
Slow-Steaming Still Cheaper Despite Record Low Bunker Prices
By Mike Wackett (The Loadstar) - Following Korean carrier Hanjin offering express container shipping services on two major tradelanes, industry analyst Alphaliner has questioned the viability of abandoning slow-steaming. It says that, in theory, with bunker prices below $200 per tonne since last November, the cost of operating fewer ships at higher speeds should be lower … [Read more...]