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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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Alternative Fuels

South Korea’s Polaris Shipping orders tri-fuel bulk carriers for Vale charter deal

Bulk carriers, which will be delivered sequentially from 2031, will be equipped with WinGD-developed engines capable of using methanol, ethanol and heavy fuel oil as marine fuels.

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South Korea’s Polaris Shipping orders tri-fuel bulk carriers for Vale charter deal

South Korean shipowner Polaris Shipping recently said it has signed a newbuilding contract for four tri-fuel vessels with Chinese shipbuilder Qingdao Beihai Shipbuilding Heavy Industry on 4 August.

The 210,000-dwt Newcastlemax bulk carriers, which will be delivered sequentially from 2031, will be equipped with WinGD-developed engines capable of using methanol, ethanol and heavy fuel oil as marine fuels.

The vessels are also designed as LNG- and ammonia-ready ships, allowing them to be converted to LNG or ammonia propulsion in the future.

Polaris Shipping also plans to significantly improve energy efficiency and reduce greenhouse gas emissions by applying various energy-saving technologies, including wind-assist propulsion systems, rotor sails, departure optimisation and land-based systems, to the vessels.

Polaris Shipping has completed a 25-year long-term charter contract for the bulk carriers with Brazilian iron ore producer Vale.

Polaris Shipping plans to sign construction contracts for up to four additional 210,000-dwt eco-friendly Newcastlemax bulk carriers with Chinese shipbuilder Hengli Heavy Industries in the near future. The Newcastlemax bulk carriers ordered from Hengli will be built as high-efficiency, environmentally friendly vessels to replace the company’s existing older bulk carriers.

 

Photo credit: Polaris Shipping
Published: 13 August, 2026

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Biofuel

MESD study finds existing Singapore harbour craft ready for B100 bio bunker fuel adoption

Results demonstrate the qualified readiness of existing large harbour craft in Singapore for B100 adoption, provided that appropriate fuel-handling, storage and additive practices are implemented.

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MESD study finds existing Singapore harbour craft ready for B100 bio bunker fuel adoption

Singapore’s Maritime Energy & Sustainable Development Centre of Excellence (MESD) on Wednesday (5 August) said the findings of its latest study indicate that existing large harbour craft in Singapore are ready for the adoption of B100 biodiesel, provided appropriate fuel handling, storage and additive practices are in place.

The findings were published in MESD’s public report, Study on the Readiness of Existing Large Harbour Craft for B100 Biodiesel in Singapore.

“Overall, the results demonstrate the qualified readiness of existing large harbour craft in Singapore for B100 adoption, provided that appropriate fuel-handling, storage and additive practices are implemented,” MESD said in a social media post. 

“This represents an important step towards supporting the wider adoption of sustainable marine fuels and advancing Singapore’s maritime decarbonisation journey.”

The study evaluated fuel storage stability, engine performance, emissions and operational readiness through controlled laboratory testing and sea trials involving a tugboat and a bunker tanker.

MESD said the findings are highly encouraging, which include:

  • Stable engine performance was maintained throughout the 200-hour sea trials, with no significant power loss, abnormal fuel-consumption trends or critical operational disruptions.
  • Antioxidant additives improved oxidation stability and helped reduce the risk of fuel degradation during storage.
  • B100 achieved brake thermal efficiency comparable to diesel, while producing lower carbon monoxide and particulate matter emissions, with a modest increase in nitrogen oxide emissions.

Led by the MESD, the study was conducted in collaboration with KST Maritime Pte Ltd, V-Bunkers Tankers, Alpha biofuels, Aderco, Maritec Naias and IHI Power Systems Co Ltd.

The Maritime and Port Authority of Singapore (MPA)​ and the ​Singapore Maritime Institute (SMI)​ also contributed to the study. 

MESD added that further research on long-term engine endurance, fuel stability and material compatibility is ongoing under its FAME 1000 project, with a related public report expected to be released later this year.

Note: The report can be accessed here.

 

Photo credit: Maritime Energy & Sustainable Development Centre of Excellence
Published: 7 August, 2026

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Biofuel

SDHI wins order from Svitzer to build four biofuel-ready tugs

Indian shipbuilder says it has secured a contract from Svitzer to construct four advanced TRAnsverse 3200 tugs, which are up to 15% more fuel efficient than conventional tug designs.

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SDHI wins order from Svitzer to build four biofuel-ready tugs

Indian shipbuilder Swan Defence and Heavy Industries (SDHI) on Thursday (6 August) said it has secured a contract from Denmark-based towage operator Svitzer to construct four advanced TRAnsverse 3200 tugs. 

The Transverse 3200 tugs will be biofuel, IMO Tier III emissions standards, and FiFi1 firefighting class ready, reflecting the vessels’ capability for reduced environmental impact and enhanced fire-response readiness in port and terminal operations.

The vessels will be built at SDHI’s yard in Pipavav, Gujarat, adjacent to the port where Svitzer also has a harbour towage operation. Deliveries for the order are scheduled to commence in early 2028.

The contract follows an extensive competitive evaluation of leading global shipyards. The high specification vessels will be constructed to the Bureau Veritas class.

Co-developed by naval architects Robert Allan Ltd. and Svitzer, the patented TRAnsverse 3200 design is engineered for complex harbour towage and escort operations. 

Featuring a unique hydrodynamic hull design and omni-directional propulsion, the vessels are capable of safely guiding large ships through severe weather and restricted port channels. Delivering an 80-tonne bollard pull, the TRAnsverse design is up to 15% more fuel efficient than conventional tug designs, directly supporting global maritime decarbonization goals.

Rear Admiral Vipin Kumar Saxena IN (retd.), CEO, Swan Defence and Heavy Industries Limited (SDHI), said: “It is indeed a notable achievement for SDHI to construct one of the world’s most sophisticated towage vessels. Svitzer’s rigorous evaluation process reaffirms the strength of our engineering capabilities in the niche, high-specification vessel segment.”

Mr. Kasper Friis Nilaus, CEO, Svitzer, said: “Svitzer’s TRAnsverse tug design offers significant benefits to customers in terms of releasing operational constraints and improving port productivity, sustainability and safety margins. We are pleased to partner with SDHI to deliver four of these next-generation vessels to the benefit of our customers and maritime supply chains globally.”

 

Photo credit: Swan Defence and Heavy Industries
Published: 7 August, 2026

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