During the first 8 months of 2023, contracting of product tanker newbuilds hit a 10-year high, reaching 140 ships and 10.72 million deadweight tons (DWT). The last time more than 10 million DWT were contracted from January to August was in 2013. Newbuild tanker contracting activity during the past 5 years has been low at about 5.46 million DWT per…
A new insight brief series from the Global Maritime Forum identifies four actions that maritime and shipping industries can take now to support shipping’s transition to a sustainable and resilient zero-emission future. “We need to clean up shipping supply chains and optimize our operations. To do this, we must collaborate, standardize, and be transparent. Let’s share the benefits of…
Global Maritime Forum (GMF) released a study in which a multi-fuel future for the shipping industry on the path to zero emissions is evaluated. To understand how shipping industry leaders are thinking about future fuels and what their plans and projections are to adopt cleaner fuels and efficiency-boosting technologies, the Global Maritime Forum, the Global Centre for Maritime Decarbonization, and the…
Marine engineering and equipment development company TECO 2030 and engineering firm AVL List have announced plans to develop a hydrogen fuel cell system specifically designed for heavy-duty marine applications. The companies have been working to develop the TECO Marine Fuel Cell, with the aim to market the first proton-exchange membrane fuel cell system specifically designed for marine applications. The three-year…