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Least Developed Countries (LDCs) will only be able to reap their vast potential to become knowledge-based manufacturing hubs for the green transition with a major realignment of national and international investor interests, according to Rebecca Grynspan, Secretary General of the United Nations Conference on Trade and Development (UNCTAD).
One of the world’s leading methanol suppliers has highlighted a gap between expected production of green methanol, derived from renewable hydrogen and captured carbon, and the number of ships expected to be delivered with capability to use the carbon-neutral fuel.
As Oman ramps up production of green hydrogen, ammonia and methanol in pursuit of lofty production targets, the Sultanate is eyeing bunkering as an offtaker for its green fuels.
It already keeps buildings cool, purifies water, bolsters agricultural yields and is one of seven base ingredients from which all chemical products are made, from plastics to textiles to medicines.
The wind required by shipping to produce its renewable fuels could be hampered after a new report revealed that supply chain issues and turbine operations were major challenges to wind production.
• The International Chamber of Shipping (ICS) and the International Bunker Industry Association (IBIA) have joined forces to submit a proposal for a simplified Global GHG Fuel Standard for the next round of International Maritime Organization (IMO) greenhouse gas negotiations. • The ICS/IBIA proposal provides for a crucial streamlined voluntary “energy pooling compliance mechanism” to address the possibility of fuel producers being unable to supply new fuels in sufficient quantities. • To ensure agreement at IMO by 2025, industry’s simplified approach will minimise administrative burden for governments, especially for developing countries, whose support will be vital to taking the fuel standard forward globally.
• New study by the University of Southampton, commissioned by the International Chamber of Shipping, highlights synergies between the implementation of energy efficiency measures and reduction of underwater radiated noise (URN). • In July this year the Marine Environment Protection Committee (MEPC 80) endorsed revised non-mandatory International Maritime Organization (IMO) guidelines on the reduction of URN that applies to new and existing ships. • Shipowners and the environment can co-benefit by reducing underwater radiated noise.
International Chamber of Shipping (ICS) launches its first edition of The Master’s Practical Guide to Maritime Law as a simple and practical legal reference book specifically to aid seafarers with incidents at sea.
Under-Secretary-General for Policy at the United Nations, and former Director-General of the International Labour Organization, Guy Ryder, shares his thoughts on accelerating the SDGs, combating climate change, negotiating labour conflicts and sustainability in businesses.
UNCTAD’s latest Review of Maritime Transport predicted a 2.4% growth in maritime trade volume in 2023, recovering from a 0.4% contraction in 2022.