Jack Wittels
Maersk Invests $1.4 Billion in Methanol-Powered Ships
Freya Ingrid Morales/Bloomberg News
A.P. Moller-Maersk has ordered eight new vessels, each costing $175 million, that can be propelled by cleanly made methanol instead of an oil-based fuel.
August 24, 2021Shipping Watchdog Urged to Speed Up Pace on Emission Curbs
Chris Ratcliffe/Bloomberg News
Trafigura Group said the shipping industry’s regulator needs to act with “lightning speed” to cut carbon emissions from an industry that spews more C02 into the atmosphere each year than France and the U.K. combined.
June 21, 2021Nations Set to Discuss Reducing Global Shipping CO2 Emissions
John Kerry wants to accelerate the decarbonization of the global shipping industry, which spews more carbon dioxide into the atmosphere each year than France and the U.K. combined.
June 9, 2021Shipping’s Big Bang Sends Two Global Industries Spinning
A containership at the Port of Long Beach, Calif. (Tim Rue/Bloomberg News)
Starting Jan. 1, the vast majority of the world’s ships were forced to change the fuel they use. Some big winners — and potential losers — are starting to emerge from what was a historic switch for the world’s oil refining and maritime industries.
January 14, 2020Fuel-Trading Routes Revamped as 2020 Dynamics Take Hold
A view of the Persian Gulf from inside Devon, an oil tanker transferring oil to exporting markets. (Ali Mohammadi/Bloomberg)
Shippers have fewer than three weeks until new rules kick in forcing them to burn cleaner fuels, but the regulations are already redefining key trade routes in the global oil-product markets.
December 12, 2019New Shipping Fuel Rules Are Starting to Rock the Oil Market
The Soro Enshi containership sails from Yangshan Deep Water Port in Shanghai, China, on July 10, 2018. (Qilai Shen/Bloomberg)
They may still be six months away, but new rules on marine fuels are already sending shock waves through the little-known world of refinery feedstocks.
July 3, 2019IMO Rejects US-Backed Plan for Phased Start of Ship-Fuel Rules
David Paul Morris/Bloomberg News
The International Maritime Organization rejected a proposal — supported by both the U.S. and shipping groups — for a phased start to rules that will limit the sulfur content of ship fuels starting in 2020.
October 24, 2018Maersk Sees Fuel Bill Soaring by $2 Billion From 2020 Rules
The container ship Maersk Emerald is unloaded at the Port of Oakland. (Ben Margot/AP)
A.P. Moller-Maersk, the world’s largest container shipping line, said adhering to stricter environmental standards could add at least $2 billion to its annual fuel bill from 2020.
August 29, 2018