While corporate lenders, shippers, and charterers are moving towards more eco-friendly operations, problems with green financing are growing. Stricter lending requirements are going into effect faster than owners can produce their long-term compliance plans. Banks do not want to end up with loans on stranded assets that can no longer earn money to pay their debt. A vessel with a low level of compliance becomes essentially unemployable.Continue reading
As we have seen in worldwide marine commerce, and in commerce in general, the inland trade has been bouncing around a bit like an EKG strip. Weather patterns and international conflict have affected the grain trades, coal trade, and inverted some of the petrochemical trade. The world economy has stifled steel production and shipping and has had a knock-on effect on coal and ores.Continue reading
I have been writing these blogs for two years now, analyzing the future of the marine industry. My intent is to help decision-makers address and prepare for forecasted changes. Now, I would like to shift my focus to various topics concerning domestic coastal, harbor, and inland marine operations.Continue reading
WASP, or Wind Assisted Ship Propulsion, remains a hot topic in the maritime industry as key players contemplate their strategy towards lowering greenhouse emissions. This plays into the same conversation as alternative fuels.
Primary corporate entities behind wind power are COSCO, MOL, Cargill, and K Line. It is not surprising that three of these are large Asian shipping companies that have had several decades of experience in wind assist.Continue reading
I have written several blogs on the hottest subject in the green battle: the fuels of the future and how they are being received by ship owners and operators. LNG is still a shaky option because of its current high cost and nowhere near zero-emissionsContinue reading
This 2-part blog looks at various ways to potentially reach mandated GHG emission levels aside from new construction, and what this new technology means to marine surveyors, appraisers, and lenders.Continue reading
As pointed out in past blogs, technology is advancing at a swift pace powered by ecological regulations and ESG investments; however, laws (particularly Admiralty laws) can’t advance at such a pace.
The state of maritime law as it pertains to these new areas of the marine industry is very important to lenders, lessors, and marine underwriters. What does the insurance policy cover and who is/are the beneficiaries? How can a lender protect their position? Here are some things to consider:Continue reading
In many previous articles, I have written about the marine industry reacting to the CO2 emission reduction standards required for 2030, 2040, and the final Zero Emissions of 2050. These articles have been about the competition among alternate lower emission fuels (such as LNG and ammonia), changes in hull designs (to include rudders and propellors), improvements in dual-fuel engines, wind assist, and how all of these changes will be funded.Continue reading
First, a look at the current leader, LNG. Even though the World Bank came out against LNG encouraging owners to skip LNG and concentrate on hydrogen-based fuels. We’ll get into hydrogen as a fuel later in this edition. The World Bank’s reasoning is that LNG is not that clean because of methane slip. Methane slip is not a term we hear too oftenContinue reading
With rapid technology changes and the endless flow of fascinating R&D press releases, some of the updates I wrote just three months ago are already old news. As one purpose of this blog is to help people not entirely in the maritime industry to keep up, here are some of the latest innovations (or proposed innovations) in maritime design and marketabilityContinue reading