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Shipping CEOs agree on mandatory speed measure for vessels

Supports Initial GHG Strategy for international shipping carbon intensity to be reduced by at least 40% by 2030.

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The CEOs of over a 100 shipping firms have agreed on a plan to implement speed limits for vessels to reduce greenhouse gases (GHGs) from the maritime sector.

“Our preference would be to set maximum annual average speeds for container ships, and maximum absolute speeds for the remaining ship types, which take account of minimum speed requirements,” they said in a joint statement.

“Such a regulation should be implemented as soon as possible and the obligation for compliance should be placed both on shipowners and operators, including charterers.”

Member states of the International Maritime Organisation (IMO) in April 2018 agreed on an Initial GHG Strategy for international shipping by calling for shipping’s carbon intensity to be reduced by at least 40% by 2030 and for total emissions to be cut by at least 50% by 2050 compared to 2008, while aiming for full decarbonisation.

To do so, new operational measures will need to be implemented for both the existing fleet and new ships and immediate reductions achieved by 2023.

According to the joint statement, recent history shows reducing the global fleet’s operational speed after the 2008 economic crash led to dramatic reductions in GHG emissions.

“This speaks to the real-world effectiveness of a potential prescriptive speed measure in helping achieve reduction targets,” said the CEOs.

“We call on all Parties at the forthcoming MEPC74 to support this move.”

Signatories supporting the movement are below:

Shipping Companies

1. 2020 BULKERS LTD, OSLO NORWAY
2. ACTIVE SHIPPING, TURKEY
3. A.M.NOMIKOS TRANSWORLD MARITIME AGENCIES S.A.
4. A.O.SCHIFFFAHRT MBH
5. ACCESS SHIPPING LTD
6. AHRENKIEL STEAMSHIP GMBH, HAMBURG
7. AIMS SHIPPING CORPORATION
8. ALASSIA NEWSHIPS MANAGEMENT INC.
9. ALEXANDER OETKER SCHIFFAHRT, HAMBURG
10. ALMI MARINE MANAGEMENT S.A.
11. ALMI TANKERS S.A.
12. ANBROS MARITIME S.A.
13. ANDRIAKI SHIPPING Co. LTD
14. APOLLONIA LINES S.A.
15. ARKLOW SHIPPING LIMITED
16. ARMINTER S.A.M, MONACO
17. ASIATIC LLOYD SHIIPING PTE LTD, SINGAPORE
18. ASTRA SHIPMANAGEMENT INC.
19. ATLANTIC LLOYD GMBH, HAMBURG
20. AWILCO LNG,
21. BESIKTAS SHIPPING GROUP, TURKEY
22. BOREALIS MARITIME, LONDON, HAMBURG, ISTANBUL
23. BRAVE MARITIME CORPORATION INC.
24. BYZANTINE MARITIME CORPORATION
25. C TRANSPORT MARITIME S.A.M. MONACO
26. CENTROFIN MANAGEMENT INC.
27. CHARTWORLD SHIPPING CORPORATION
28. CMK EUROFINANCE
29. COMMON PROGRESS S.A.
30. CONTSHIPS MANAGEMENT INC.
31. CYPRUS SEA LINES CO. LTD
32. DALEX SHIPPING CO. S.A.
33. DELTA TANKERS LTD
34. DIANA SHIPPING SERVICES LTD
35. DIANA WILHELMSEN MANAGEMENT LIMITED (DWM)
36. DYNACOM TANKERS MANAGEMENT LTD
37. DYNAGAS LTD
38. EASTERN MEDITERRANEAN MARITIME LTD
39. EFNAV COMPANY LTD
40. ELEMENT SHIPMANAGEMENT S.A.
41. EMPIRE BULKERS LTD
42. EMPROS LINES SHIPPING CO.
43. ENTERPRISES SHIPPING & TRADING S.A.
44. EURONAV SHIP MANAGEMENT LTD
45. EUROTANKERS INC.
46. F. LAEISZ GROUP, HAMBURG
47. GLOBAL CARRIERS LTD
48. GOLDEN ENERGY MANAGEMENT S.A.
49. GOLDENPORT MARINE SERVICES INC./ GOLDENPORT SHIPMANAGEMENT LTD
50. GOODBULK LTD, MONACO
51. GRECOMAR SHIPPING AGENCY LTD
52. HALKIDON SHIPPING CORPORATION
53. HELLENIC TANKERS CO. LTD
54. HUNTER GROUP ASA
55. HYDROUSSA NAVIGATION LTD
56. INTERUNITY MANAGEMENT CORPORATION
57. INTERUNITY MANAGEMENT SA GMBH, GERMANY
58. IOLCOS HELLENIC MARITIME ENTERPRISES CO. LTD
59. IONIA MANAGEMENT S.A.
60. IONIC SHIPPING (MGT) INC.
61. KYKLADES MARITIME CORPORATION
62. LASKARIDIS SHIPPING CO. LTD
63. LATSCO MARINE MANAGEMENT INC.
64. LMZ SHIPPING S.A.
65. LOAD LINE MARINE S.A.
66. LOUIS DREYFUS ARMATEURS, FRANCE
67. MARINE TRUST LTD
68. MARLA DRY BULK SHIPMANAGEMENT INC.
69. MARLA TANKERS SHIPMANAGEMENT INC.
70. MARMARAS NAVIGATION LTD
71. NAFTOMAR SHIPPING & TRADING CO. LTD
72. NAVIOS MARITIME HOLDINGS INC.
73. NEPHELE NAVIGATION COMPANY LIMITED
74. NEW SHIPPING LIMITED
75. NORDIC HAMBURG SHIPMANAGEMENT GMBH & CO.KG, HAMBURG
76. OCEANBULK MARITIME S.A.
77. OCEANGOLD TANKERS INC.
78. OLYMPIA OCEAN CARRIERS LTD
79. OMICRON SHIP MANAGEMENT INC.
80. ORION REEDEREI GMBH & CO. KG, HAMBURG
81. ÖSTERREICHISCHER LLOYD SEEREEDEREI (CYPRUS) LTD
82. OVERSEAS MARINE ENTERPRISES INC.
83. PAVIMAR S.A.
84. PETROCHEM GENERAL MANAGEMENT S.A.
85. PETER DOHLE SCHIFFAHRTS KG, HAMBURG
86. PLEIADES SHIPPING AGENTS S.A.
87. POLYAR SHIPPING
88. PRIME MARITIME INC
89. PRODUCT SHIPPING & TRADING S.A.
90. PROMINENCE MARITIME S.A.
91. REEDEREI NORD GMBH, HAMBURG, CYPRUS, AMSTERDAM
92. RIVAMAR SRL
93. ROSWELL TANKERS CORPORATION
94. ROXANA SHIPPING S.A.
95. SAFE BULKERS MANAGEMENT LTD
96. SAFESHIP MANAGEMENT INC.
97. SAFETY MANAGEMENT OVERSEAS S.A.
98. SEA TRADE HOLDINGS, STAMFORD, U.S.A
99. SEA TRADERS S.A.
100. SEASTAR MARITIME MANAGEMENT S.A.
101. STAR BULK CARRIERS CORP.
102. STEALTH MARITIME CORPORATION S.A.
103. STEALTHGAS INC.
104. SUN ENTERPRISES LTD
105. TARGET MARINE S.A.
106. TERRA NAVIS SHIPPING LTD
107. TRANSMED SHIPPING LTD
108. TSAKOS SHIPPING AND TRADING S.A.
109. TSAVLIRIS RUSS (INTERNATIONAL) LTD
110. UNIVERSAL SHIPPING ALLIANCE LTD
111. VARCO S.A.
112. VEGA REEDEREI GMBH & CO. KG, HAMBURG
113. WORLD TANKERS MANAGEMENT

Environmental groups

1. Clean Shipping Coalition (CSC)
2. AirClim
3. European Federation for Transport and Environment (T&E)
4. Environmental Investigation Agency (EIA)
5. Greenpeace International
6. Pacific Environment (PE)
7. Seas at Risk
8. Stichting De Noordzee (North Sea Foundation)
9. World Wildlife Fund (WWF)

Published: 2 May, 2019
 

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Environment

Indonesia to expedite removal of sunken Malaysia-flagged tanker “Silver Sincere”

Vessel sank while carrying about 1,000 mt of waste oil on 12 January 2025; the wreck was discovered in March 2025 and was found to have drifted about 13 nautical miles from its original sinking site.

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Indonesia to expedite removal of sunken Malaysia-flagged tanker “Silver Sincere”

Indonesia’s Coordinating Ministry for Political and Security Affairs on Tuesday (14 July) held a cross-agency coordination meeting to expedite efforts in handling the Malaysian-flagged tanker Silver Sincere that sank off Bintan Regency, Riau Islands.

The vessel sank while carrying about 1,000 metric tonnes (mt) of waste oil on 12 January 2025. 

According to authorities, the ship sank within Indonesian waters. After several surveys, the wreck was finally discovered in March 2025 and it was found to have shifted approximately 13 nautical miles from the initial sinking location.

The meeting was aimed to align cross-ministerial and institutional measures to expedite the handling of the Silver Sincere wreck while minimising risks to shipping safety, the marine environment, and national interests.

Deputy for Coordination of State Defense and National Unity Purwito Hadi Wardhono emphasised that the handling of the impact of the Silver Sincere sinking was the first case to be comprehensively coordinated, serving as a model for handling foreign vessels sinking within Indonesian jurisdiction.

Through this cross-sectoral coordination, the government will establish a clear and measurable framework that can serve as a reference for resolving similar cases in the future, while minimising state losses due to environmental pollution, damage to underwater ecosystems and infrastructure, and disruption to shipping lanes.

“The most important thing is to immediately stop and prevent the negative impacts of this ship sinking,” Purwito said.

“Therefore, a coordinating role is crucial, as maritime security governance involves various ministries and institutions with varying authorities, allowing for faster, more integrated, and more effective response,” he said. 

He added that the Silver Sincere was a Malaysian-flagged vessel that sank within Indonesian jurisdiction, and therefore, all handling processes must comply with the provisions of Indonesian laws and regulations.

In the meeting, Prof. Eko Ganis Sukoharsono, representing the SAE Energy Consulting Team, presented the results of an analysis based on 14 observation periods using Sentinel-1 Synthetic Aperture Radar (SAR) satellite imagery. 

The analysis results showed strong indications of a waste oil spill that has resulted in marine pollution, damage to the seabed due to shifting shipwrecks, disruption of coastal ecosystems and fishing grounds, and potentially threatening the livelihoods of fishing communities around the Riau Islands. 

Purwito added these findings further emphasise the importance of accelerating the removal of the shipwrecks to prevent widespread environmental impacts, maintain shipping safety, and avoid the potential for greater state losses.

The meeting brought together representatives of related ministries and institutions including the Ministry of Foreign Affairs, Ministry of Defense, Ministry of Transportation, Ministry of Maritime Affairs and Fisheries, Ministry of Environment, Attorney General’s Office.  

Related: MPA: Malaysia-registered tanker “Silver Sincere” sinks off Pedra Branca

 

Photo credit: MarineTraffic / Julian T
Published: 20 July, 2026

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Methanol

China launches methanol shipping supply chain alliance to accelerate green transition

Marine fuel suppliers in the alliance include Sinopec Fuel Oil Sales, China Marine Bunker (PetroChina), SIPG Energy (Shanghai), and Shenzhen Port Energy Development.

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China Waterborne Transport Research Institute under the Ministry of Transport and China Transport News recently jointly launched a Methanol Fuel Shipping Supply Chain Innovation Alliance with 20 organisations spanning the shipping, port, energy, equipment, research and industry association sectors.

The alliance was officially announced during the main event of China Maritime Day 2026 on 11 July, where members also released a joint initiative to develop a collaborative methanol-fuelled shipping supply chain.

The alliance aims to implement China’s national strategy for green economic transformation and support the Ministry of Transport’s “One Network, Four Modernisations” initiative by building a safe, efficient, economical and reliable methanol marine fuel supply chain

Under the joint initiative, alliance members pledged to align with China’s national decarbonisation strategy by promoting methanol as a key pathway for the shipping sector’s green transition and optimising the industry’s energy mix.

The members also pledged to strengthen collaboration across the supply chain to improve coordination between bunker fuel production, transportation and end users while advancing technological innovation.

Lastly, the alliance will support the development of policies, planning and technical standards, promote resource sharing and joint research, and accelerate the large-scale adoption of methanol as a marine fuel.

The alliance brings together companies and organisations representing the entire methanol shipping supply chain.

Members include shipping and port members such as China Changjiang National Shipping (Group) Corporation, COSCO Shipping Bulk Co., Ltd., Shandong Port Group, and Wuhan Chuangxin Jianghai Shipping Co., Ltd.

Energy companies in the alliance include Sinopec Chemical Commercial Holding Company Limited and Methanex Corporation.

Marine fuel suppliers including Sinopec Fuel Oil Sales, China Marine Bunker (PetroChina), SIPG Energy (Shanghai) Co Ltd and Shenzhen Port Energy Development Co Ltd are also part of the alliance. 

Equipment manufacturers in the alliance are CSSC 711th Research Institute, CSSC Power (Group) Corporation Ltd and Chongqing Hongjiang Machinery Co Ltd.

Research, media and industry organisations participating in the alliance include the China Waterborne Transport Research Institute, China Transport News, and the Methanol Institute.

The Methanol Institute said methanol is moving beyond individual projects towards coordinated action across the entire value chain. 

“And China continues to play a leading role in advancing methanol as a marine fuel,” it said in a social media post.  

“We’re proud to work alongside our fellow alliance members to help strengthen the methanol supply chain and support the continued growth of methanol as a marine fuel.”

 

Photo credit: David Yu from Pixabay
Published: 17 July, 2026

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Wind-assisted

DNV awards TADC to Econowind for VentoFoil 3-Series

System actively harnesses wind power to generate forward thrust, helping to reduce bunker fuel consumption and mitigate FuelEU penalties.

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DNV awards TADC to Econowind for VentoFoil 3-Series

Dutch wind-assisted propulsion technology firm Econowind on Wednesday (15 July) said it has received a Type Approval Design Certificate (TADC) from classification society DNV for its VentoFoil 3-Series boundary layer suction wing. 

The company said the certification confirms compliance with DNV’s ST-0511 standard for Wind-Assisted Propulsion Systems and enables easier integration of VentoFoils on DNV-classed vessels worldwide. 

Econowind added that the approval accelerates the deployment of wind propulsion across the shipping industry.

“DNV is one of the world’s leading classification societies. This TADC gives DNV-classed shipowners confidence that VentoFoils meet the highest industry standards,” said Chiel de Leeuw, Chief Commercial Officer at Econowind. 

“It simplifies the approval process for both retrofits and newbuilds. VentoFoils are ideal for late-stage design integration and retrofit projects. This is an important milestone for Econowind and for the wider adoption of wind-assisted ship propulsion.”

The 3-Series VentoFoil is Econowind’s best-selling suction wing to date, with over 150 units sold. The system actively harnesses wind power to generate forward thrust, helping to reduce fuel consumption and mitigate FuelEU penalties. The system includes a tilting foundation, allowing the wings to be tilted down during port operations or in adverse weather conditions, making it a flexible solution.

The TADC applies to the 16-meter VentoFoil 3-Series product design and supports easy integration into DNV-classed vessels without repeating the full design assessment process. This enables shipowners, shipyards, and project teams to move more efficiently from concept to installation, reducing project complexity and accelerating deployment. 

Hasso Hoffmeister, Senior Principal Engineer at DNV Maritime, said: “It is a great pleasure to award Econowind this new certificate. WAPS have been going from strength to strength over the past few years, from 2022 the number of vessels in operation has increased five times, and we’ve now topped the century mark. 

“And with the current advances in technology, materials, and production capacity in the segment, we expect this to accelerate. So, while the wind always changes, the shipping industry is likely to be sailing strong for years to come.”

Econowind expects the DNV Type Approval Design Certificate to accelerate adoption of the VentoFoil, particularly among shipowners seeking proven, independently certified technology that can support fuel savings, emissions reductions, and decarbonization goals.

MS Heinz of HS Schiffahrt is among the first vessels to sail under this TADC.The company said the approval builds on Econowind’s growing installed base and further strengthens confidence in wind-assisted ship propulsion as a practical solution to address energy scarcity and high fuel prices. 

In addition to the 3-Series, Econowind offers the 5-Series for the deep-sea market.

 

Photo credit: Econowind
Published: 17 July, 2026

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