Wind propulsion for RoRo, RoPax and Pax vessels
The shipping world is looking for the right answers to the decarbonization challenge, and wind-assisted propulsion is seeing growing support from innovators and first movers across the industry. DNV presents three promising technologies adapted in the RoRo and RoPax segment.
As carbon emission limits get tighter and the zero-carbon goal moves closer, shipowners and ship operators are seeing more questions than answers about the ship-propulsion technology of a decarbonized tomorrow. Amid this uncertainty, one thing remains certain: There will always be wind – enough for everyone. “Wind has propelled ships for thousands of years, interrupted only for one brief, wasteful century of burning fossil fuels,” says Hasso Hoffmeister, Senior Principal Engineer at DNV. “So more people are asking: Why not use wind again?”
As carbon emission limits get tighter and the zero-carbon goal moves closer, shipowners and ship operators are seeing more questions than answers about the ship-propulsion technology of a decarbonized tomorrow. Amid this uncertainty, one thing remains certain: There will always be wind – enough for everyone.
Sustainable ship recycling takes major step forward
A significant development in the ship recycling market has taken place this week. In its latest weekly report, ship broker said that “before any sales, the main news this week is the big step taken towards the ratification of the HKC following the approval from the Bangladesh government. Hopefully, ratification will follow in the coming months and a step forward will have been taken towards more sustainable ship recycling, while acknowledging that the convention will still leave plenty of room for improvement. In the meantime, the market lacks strength and few additional vessels are heading for demolition after last week. After a modest flow of dry bulk and container vessels to date this year, it seems supply is drying up. If the dry bulk market remains steady or even continues to recover lost ground, we can expect to see even fewer recycling candidates over the coming weeks.
Dryad global: safety challenges faced at sea
As the world’s farthest-reaching and perhaps most vital industry, shipping is especially vulnerable the risks caused by geopolitical events. Dramatic developments, in war risk, illegal territorial expansion, cybercrime and global health issues all significantly challenged the maritime industry in 2022.
Set against this backdrop. Dryad Global have delivered actionable insights and decision-making support tools to the maritime industry, covering the immediate crisis facing shipping at the outbreak of the Ukraine war, developing geopolitical uncertainties in the Taiwan Strait, Iranian activity within the wider Middle Eastern Gulf, the continued threat of piracy within the Gulf of Guinea and mitigation tools for cybersecurity threats.
Dry bulk market: support is on the way
With summer now well underway, the dry bulk market is primed for much needed support, in the form of China’s need to replenish lower iron ore stocks, which is further boosted by low iron ore prices. In its latest weekly report, shipbroker said that “looking at BDI’s current performance, we can all agree that the second quarter results remain disappointing. As we enter the final month of the Q2, there are some optimistic demand fundamentals that could improve sentiment over the summer months. Our focus will be on the revival of Chinese iron ore demand and why we believe such an event could occur in the near future. While iron ore is the main ingredient of steel production, Chinese iron ore imports are not only driven by the global demand for steel but also by the price of iron ore itself. When the prices are low and inventories are also low, demand tends to increase, supporting the utilization of both the Capesize and Kamsarmax vessels.
Do sanctions pose a barrier to the safety of STS operations?
Ship-to-Ship (STS) operations have a commendable safety record, with almost fifty years of operations. However, to ensure minimum risk, considering the potential for significant environmental accidents, it’s crucial to exercise prudent management and continuous risk evaluation. It’s important to note that sanctions or intelligence clearance for cargoes and ships should not compromise due diligence over the safety issues of STS operations.
In contrast to other operations involving significant third-party risks, the business model of STS transfers has a unique feature.?Charterers and cargo owners bear the cost and select the STS Service Providers, while tanker operators execute the operation and assume liability for safety.
While tanker operators hold the responsibility for safety during STS operations, they may have limited control or no control over the selection of third-party service providers.
This situation poses an inherent threat to the safety of STS operations, as charterers and cargo owners may lack the necessary expertise to evaluate the safety standards of third-party service providers. Complications may arise when cargo owners urge the use of STS Service providers that have no proven Safety Management Systems (SMS).
Tanker supply could rise, Albeit nowhere enough levels to prevent shortages
The tanker market is primed for an undersupply issue moving forward, as a lack of orders and an increase of scrapping of vintage tonnage are bound to create shortages in the coming years. In its latest weekly report, shipbroker said that “against the backdrop of escalating environmental pressure and a political focus on developing renewable energy in recent years, we also see increasing warnings from oil producers and industry veterans that significant new investment in global upstream oil and gas development is needed by 2030 to meet market needs and to prevent a supply shortfall, even if demand growth slows toward a plateau in the longer term.