Achieving net zero emissions by mid-century would cost an estimated $1 trillion-$2 trillion a year of additional investments, or 1-1.5% of global gross domestic product, a report by the Energy Transitions Commission (ETC) said on Wednesday.

Chairmans Statement I am pleased to report that, amid some of the most challenging economic and operating circumstances in living memory, Orient Overseas (International) Limited (OOIL) and its subsidiaries (the Group) achieved a profit attr

ABB is to install its state-of-the-art engine diagnostics software ABB Ability Tekomar XPERT on 12 bulk carriers operated by Shanghai Ming Wah Shipping Co (Shang Ming Wah). The fleetwide deployment follows a trial on two ships which started

The Baltic Exchanges main sea freight index fell on Wednesday, pressured by a dip in capesize vessel rates. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supram

BIMCO is developing a standard refund guarantee for shipbuilding contracts, including the SAJ and Chinese forms. The current issue is that English law and jurisprudence on guarantees is contradictory, complex and often very difficult to und

During this years annual International Union of Marine Insurance (IUMI) conference, initial findings from IUMIs major claims database were made available for the first time. Following three years of development, the database is now sufficie

Although global hull premiums reported at the International Union of Marine Insurance (IUMI) conference this week were stable, Rama Chandran, Chair of the IUMI Ocean Hull Committee was more upbeat. He said: Yesterday, our Facts Figures Comm

The CMA CGM Brazil is the largest container ship to ever dock on the U.S. East Coast. This landmark record further reaffirms our commitment to the United States. The CMA CGM Group is a long-term partner of the U.S. and a major contributor t

BoxPlus, a global leader in container tracking and internet solutions, has announced that it will partner with SEACO, a global leader in refrigerated containers, to provide OOCL with internet-based reefer container leasing services. By inst

Chinas first integrated offshore viscous oil thermal production and development demonstration platform was put into operation on Tuesday, according to its operator, China National Offshore Oil Corporation. The companys Lvda 21-2 platform wa

The agreement will see Wilhelmsen initially acquire 25% of stensj Groupsexpandingoffshore wind company.Wilhelmsen has also secured an option to buy another 25% before June 2021. Launched in 2018, Edda Wind owns and operates service vessels

The Korean Register (KR) has announced the establishment of a new LNG Fueled and Bunkering Simulation Center (KR LSC). The new facility is located at KRs headquarters in Busan and officially opened on 15 September. Following the opening cer

The International Union of Marine Insurance presented its analysis of the latest marine insurance market trends during its annual conference which this year is being held online. Marine underwriting premiums for 2019 were estimated to be US

Hong Kong Maritime Week 2020 scheduled for 15-21 November has been cancelled. The main organizer of the territorys most prestigious maritime event, the Hong Kong Maritime and Port Board, has yet to officially announce the cancellation. But

The COVID-19 pandemic shows no sign of abating and continues to affect seafarers mental health and wellbeing worldwide. Recognisng the crucial need to provide sufficient support to help seafarers to manage during this crisis, BIMCO has seen