Jack Wittels

Business, Technology, Fuel

Maersk Invests $1.4 Billion in Methanol-Powered Ships

Maersk ship 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.

Jack Wittels | Bloomberg News
August 24, 2021
Government, Business, Fuel

Shipping Watchdog Urged to Speed Up Pace on Emission Curbs

Maersk truck 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.

Jack Wittels | Bloomberg News
June 21, 2021
Government, Business, Fuel, Logistics

Nations Set to Discuss Reducing Global Shipping CO2 Emissions

John Kerry

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.

Jack Wittels | Bloomberg News
June 9, 2021
Government, Business, Equipment, Fuel

Shipping’s Big Bang Sends Two Global Industries Spinning

Shipping 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.

Jack Wittels | Bloomberg News
January 14, 2020
Government, Business, Fuel

Fuel-Trading Routes Revamped as 2020 Dynamics Take Hold

Devon oil tanker 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.

Jack Wittels | Bloomberg News
December 12, 2019
Government, Business, Fuel

New Shipping Fuel Rules Are Starting to Rock the Oil Market

Ship at China port 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.

Jack Wittels | Bloomberg News
July 3, 2019
Government, Business, Fuel

IMO Rejects US-Backed Plan for Phased Start of Ship-Fuel Rules

Cargo Ships 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.

Jack Wittels | Bloomberg News
October 24, 2018
Government, Business, Fuel

Maersk Sees Fuel Bill Soaring by $2 Billion From 2020 Rules

Maersk Emerald 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.

Jack Wittels | Bloomberg News
August 29, 2018