World Maritime News
14 November 2019
Shipping’s future relies on industry chain unity
The Global Shipping Industry Chain Co-operation Initiative has been launched at the 2019 World Shipping Summit in Shanghai with fourteen companies and organizations including Cosco, Maersk, CMA CGM, Evergreen, Yang Ming, Qingdao Port Group and BIMCO. The advanced technologies, such as big data, artificial intelligence and blockchain can allow the co-operation to strengthen in terms of challenges such as emission reduction and digital transformation.
Canada’s seaports to see robust growth in the coming decade
Infrastructure expansion will support robust growth in Canadian ports’ throughput during the coming decade, according to the Freight Transport & Shipping Report for the first quarter of 2020 by Fitch Solutions Macro Research. The company notes that Canada’s Atlantic and Pacific coastline allow the country to meet its import and export needs with the US, while offering access to key trade partners in Asia and Europe. Railway connections to Pacific ports will be a main target of investment, it said. Looking farther ahead, Fitch claims that Port Metro Vancouver will remain the largest gateway in Canada during the long term.
Read more: Lloyd’s List
Cyber-attack on Asia Pacific ports could cost US$ 110 billion
A single cyber-attack on major Asia Pacific ports could cost US$ 110 billion, roughly equivalent to half of all losses from natural catastrophes in 2018 according to new research from the University of Cambridge Centre for Risk Studies entitled “Shen attack: cyber risk in Asia Pacific ports”. The estimate is based on an extreme scenario, in which a computer virus carried by ships scrambles cargo databases at 15 key ports across Japan, Malaysia, Singapore, South Korea and China, leading to severe disruption.
Decarbonization and digitalization
Frontline experts from maritime, technology and energy sectors will share perspectives on the main concerns over shipping’s path to decarbonization and digitalization at Lloyd’s List’s Hong Kong Innovation Forum on 20 November. The following issues will be discussed.
・How far shipping is away from its digital transformation tipping point ?
・How to have right innovation teams in place ?
・How reasonable and defendable is to use LNG as a transition fuel ahead of 2050 ?
・How to create an infrastructure where dependable future fuel production can be replied ?
Read more: Lloyd’s List
CargoSmart links shipment data, trade finance blockchain
Linking shipment data to trade finance decisions is becoming more and more common. CargoSmart said on 5 November it has completed a proof of concept linking two blockchain networks – one tied to financial services and the other to data. That connection allows TradeConnect, multi-bank blockchain consortium in Hong Kong facilitated by the Hong Kong Monetary Authority, to access relevant data from ocean carriers and terminals to shorten the shipping documentation validation process those banks typically undertake to approve financing services for shippers.
Major global shippers join Maersk in new biofuel project
Another step has been taken in the search for shipping’s fuel of the future, with four global shippers joining Maersk Group and Wallenius Willhelmsen to test the commercial and environmental viability of a new biofuel. The carriers have teamed up with Copenhagen University and some of their largest customers – BMW Group, H&M Group, Levi Strauss & Co., and Marks & Spencer – to explore whether LEO, a blend of lignin and ethanol, could be the answer to zero-carbon shipping. The challenge now is to find the fuels that support the zero-carbon IMO targets, and Maersk announced the best-positioned fuels for research and development into net-zero fuels for shipping were alcohol (such as LEO), biomethane and ammonia.
Electric yard tractors, dray trucks coming to NY-NJ’s Red Hook Terminal
The Port of New York and New Jersey will use half of a US$ 5 million government grant to add electric-powered yard tractors at its Red Hook Container Terminal as part of an effort to cut pollution and congestion. The Port Authority of NY-NJ has placed a priority on reducing pollution. A key element of that effort has been to remove older trucks from the port and reduce truck trips by using train and barge to carry increasing volumes of cargo. In August, Best Transportation completed the test of the port’s first zero-emission electric truck.
Read more: JOC
Singapore MPA signs decarbonization and digital tie-up with DNV GL
Singapore’s Maritime and Port Authority and classification society DNV GL have agreed a collaboration deal to drive digitalization and decarbonization. The three-year research and development partnership will target four main areas including market and technical feasibility, research on low and zero carbon ship fuels, autonomous and remote-controlled ships as well as shore-based operation and control centers and blockchain for port and shipping processes.
Shipping cannot meet 2050 emissions goal, says OPEC
An accelerated implementation of advanced technology combined with large scale switching to LNG as a marine fuel will not meet the goal of cutting GHG emissions by half in 30 years’ time, the Organization of the Exporting Petroleum Countries (OPEC) said on 5 November. According to OPEC’s World Oil Outlook, the IMO 2050 emissions target may only be achievable if carbon dioxide emissions from fuel are cut by 80% from carbon dioxide emissions levels of LNG.
Greek owners call for industry discipline on green agenda
With the Global Maritime Forum clearly in his sights, the Greek owners’ leader claims unofficial bodies ‘do not offer real solutions’ at a crucial time for mapping out shipping’s decarbonisation policies. Union of Greek Shipowners president Theodore Veniamis warns against misleading headline conclusions from industry forums and urges unity around the International Chamber of Shipping as the industry lead voice on the decarbonisation agenda.