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Energy

Bloomberg | April 27, 2023

Shipping has largely relied on one fuel. It now needs many

Shipowners and operators know they must decarbonize, but the industry must be ready to handle not one but many alternatives to petroleum products – from liquefied natural gas to nuclear.

US calls on Iran to release oil tanker seized in Gulf of Oman

Bloomberg | April 27, 2023

Europe battles flood of green fuel suspected to be fraudulent

Bloomberg | April 27, 2023 | Energy | Alternative | Green Shipping

Europe’s push for more green fuel has helped build an industry in China that collects, recycles and ships waste such as used cooking oil. But a flood of biofuel is now threatening European producers and sparking fears about fraudulent exports.

UK train drivers extend strikes as court pares nurse walkout

Bloomberg | April 27, 2023 | Intermodal | Rail

American Airlines sees topping profit forecast as global demand grows

Bloomberg | April 27, 2023 | Air Cargo | Airlines

Congested Philippine airport gets new upgrade pitch from tycoons

Bloomberg | April 27, 2023 | Air Cargo

ANA rebounds from Covid with first annual profit since 2020

Bloomberg | April 27, 2023 | Air Cargo | Airlines

Maran Dry’s first LNG-fueled Newcastlemaxes delivered with DNV Class

AJOT Newsroom | April 27, 2023 | Energy | Maritime | Breakbulk News

Maran Dry Management Inc. (MDM), the dry bulk shipping arm of the Angelicoussis Group, recently took delivery of two Newcastlemax bulk carriers, Ubuntu Unity on February 28th and Ubuntu Community on April 18th - both from Shanghai Waigaoqiao Ship Building Co., Ltd. (SWS). The two DNV-classed vessels are the first LNG-fueled bulk carriers to join the MDM fleet.

Energy

Bloomberg | April 27, 2023

Hyundai Motor, SK on plan $5 billion EV battery plant in US

Hyundai Motor Group and SK On Co. will spend as much as $5 billion in North America for the production of electric car batteries as President Biden’s green bill encourages companies along the EV supply chain to make investments there. Shares rose as much as 5% in Seoul.

Canada becomes global leader in green energy incentives, boosting project value by as much as 50%

AJOT Newsroom | April 27, 2023 | Energy | Alternative | Green Shipping

Canada’s new renewable energy investment tax credit (ITC), unveiled in the 2023 federal budget, will make the country a global leader in favorable financial conditions for green energy projects. Rystad Energy’s renewable economic modeling shows that these new tax breaks will raise the value of some projects by more than 50% over their lifetime, positioning Canada as the second most attractive place for renewable developers, behind only the US.

Green Shipping

Stas Margaronis | April 26, 2023

HMM cuts carbon emissions by 57% since 2010

HMM, the South Korean flag carrier, reports that its vessels have reduced their carbon emissions by 57.7 percent between 2010 and 2021.

Citadel money manager exits to join Biden’s push for chips

Bloomberg | April 26, 2023 | International Trade

Why flying is so expensive and likely to remain that way

Bloomberg | April 26, 2023 | Air Cargo | Airlines

The worst of the pandemic has subsided, countries are accessible again and airlines expect decent profits now that business and leisure travel has returned. Why, then, are fares still so high?

International Trade

Bloomberg | April 26, 2023

Wheat farmers ask Canada to step in as strike threatens exports

The Wheat Growers Association is calling for the Canadian government to allow outside workers to weigh and inspect grain at a Vancouver port as a massive strike by public sector workers threatens shipments.

Russia’s Medvedev says G-7 export ban to trigger grain deal exit

Bloomberg | April 26, 2023 | International Trade | Commodity

Moscow may retaliate if Group of Seven countries proceed with a total ban on most exports to Russia by withdrawing from the safe-transit deal that allows Ukraine to ship grains from Black Sea ports, said Dmitry Medvedev, deputy chair of Russia’s Security Council.

Singapore, Long Beach, L.A. Ports to establish green, digital shipping corridor with a signed MoU

The Maritime and Port Authority of Singapore (MPA), Port of Long Beach and Port of Los Angeles, with the support of C40 Cities, signed a memorandum of understanding today to establish a green and digital shipping corridor between Singapore and the San Pedro Bay ports complex to support the decarbonization of the maritime industry and improve efficiencies through digitalization.

FAA’s acting chief to step down in blow to aviation agency

Bloomberg | April 26, 2023 | Air Cargo | Airports

The head of the US Federal Aviation Administration is stepping down after just over a year on the job, raising questions about the direction of the agency as it grapples with challenges from flight safety and aging technology to congestion in the skies.

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