Category: news

4 February 2023

After the cash-strapped government restricted imports, thousands of containers of food, raw materials,
and equipment became stranded in ports, causing Pakistan’s inflation to accelerate to its highest level
in over 48 years in January.

Data from the statistics department showed that consumer prices increased 27.55% from a year earlier.
Comparatively, a Bloomberg survey’s median expectation of a gain was 25.9%, while the December increase was 24.47%. According to figures from the central bank, inflation is at its highest level since May 1975.

The most recent reading was released a week after the State Bank of Pakistan raised its benchmark rate to the highest level in more than 24 years in an effort to stabilise an economy that is deepening its crisis due to a lack of supplies, sky-high prices, and a funding constraint. After last year’s catastrophic floods, which
exacerbated the effects of political unrest and the effects of the war in Ukraine, Pakistan’s problems grew worse.

As per Bloomberg Economics

It will likely continue to accelerate as the government scrambles to fulfill the International Monetary Fund’s aid conditions to secure much-needed dollars. We see inflation climbing in coming months on a combination of rupee depreciation and hikes in fuel prices and electricity tariffs. The government could raise additional taxes on the IMF’s insistence. This will likely push the State Bank of Pakistan to increase interest rates further. –Ankur Shukla, India economist

Approximately 6,000 containers, containing thousands of tonnes of supplies for poultry feed that drove chicken prices to an all-time high earlier this year, are stuck in ports. The bottleneck is making the inflation rate, which has been above 20% since June due to import restrictions set by the government because of financial scares.

20 January 2023

An expression of interest for the country’s first Mega container Trans-shipment port at Galathea bay in great Nicobar Island is expected to be floated by January end. 

There is no large container trans-shipment port in India and all International container cargo has to go to Columbia, Singapore and port Klang in Malaysia. With 75% of the country’s Trans-shipment cargo being handled at international ports, it makes Indian industries vulnerable to increase its cost, potential inefficiency, and congestion issues and creates long term risk for India’s trade competitiveness.

More than 16.1 million 20 foot equivalent units handled at India’s ports, Out of the nearly 75% of India’s trans-shipment containers that are handled at ports outside India, Colombo Singapore and Port Klang handle more than 85% of it. To address this, Rs. 17,000 crore has been invested in this port to help trans-shipment of cargo from the entire east coast of India as well as from Bangladesh and Myanmar is being planned.

India has an international container trans-shipment terminal at Kochi in Kerala currently but its scale is much lower than the proposed port in the Nicobar Islands. The trans-shipment port enables big ships to anchor, raise India’s share in Maritime trade, create new job opportunities, and save a lot of Forex.

In the first phase, the length of the jetty will be 1.6 kms and will have the capacity of 4.3 million TeUs containers. Later, it would be ramped up to 16 million TeUs over the years. The expression of interest will help seek feedback from global port operators, Maritime service majors and shipping linears. After this process, a detailed project report will be prepared for the project for seeking bids.

20 January 2023

The worlds largest water shipment has been running on crude for almost a century. Over five million barrels are used daily by the 50,000 ships that navigate the high seas, which is not much less than what aeroplanes use. A ship’s engine burns about one-quarter of the oil that is consumed. But these times might be going to expire. This is due to the fact that the greatest and most fundamental transformation that has ever occurred to commercial ships since the final years of coal-powered steamships is about to occur. The shipping sector is going to undergo a radical shift as a result of regulations and standards being quietly negotiated by the UN’s International Maritime Organization (IMO).

The primary forces driving today’s decarbonization are new innovative energy technologies for power plants and automobile engines. Currently, it does not appear like shipping is experiencing that. But even so, we might be at a turning point. The IMO is getting ready to take action to lessen its carbon footprint in the shipping industry after decades of opposition. By the end of the decade, it hopes to reduce emissions intensity to levels that are roughly 40% lower than those of 2008, and by 2050, it wants carbon pollution to be half what it was in 2008.

All vessels will be required to reveal their emissions starting in 2023, and if they have been performing poorly, they must also report their improvement plans. The maritime sector is conservative, and the IMO is frequently controlled by the sector it has been governing. According to what shipowners do for cost management, the regulations are essentially voluntary. The simplest solutions, including slowing down the speed of the ships on open waters and routinely cleaning the hulls, will make some of the biggest impacts.

Even so, there are several overlapping innovations that are revolutionising the way that ships are fueled. Heavy fuel oil (HFO), a refinery waste that costs almost a third less than crude, was used to power all ships three years ago. HFO is toxic but cheap. It contains a lot of sulphur, which is bad for the environment. At the beginning of 2020, the IMO strengthened regulations on sulphur emissions, requiring any vessel that was unable to instal pollution-control systems to switch over immediately to cleaner diesel. It’s equally possible that decision was the cause of a number of more significant issues in the oil market. It quickly increased the market’s daily demand for diesel from the current 27 million barrels to over a million barrels.

The difference between low-sulfur diesel and high-sulfur fuel oil has significantly expanded as freight rates have returned to normal over the past few months and fuel prices rather than port-specific delays have taken over as the problem for cargo lines. HFO and diesel are now typically more than twice as expensive. Ship owners are now converting to eco-friendly substitutes as a result of increased expenses to power fleets. The success so far has been LNG, which until recently was unknown as a naval fuel yet normally provides energy at a price far cheaper than diesel. According to a study done in 2021, over 98% of car carriers now on order are LNG fueled, along with about 49% of cruise ships, 32% of bulk carriers, 26% of container boats, and 28% of tankers. According to a top provider of shipping data services, 63% of the load of the new ships scheduled in 2022 or 444 ships will be powered by alternative fuels.

In terms of emissions, LNG’s monopoly is not a big victory. Although it has a lower carbon footprint than products that use crude oil, the performance may suffer if the gas escapes without being burned a problem that affects most marine engines. But when diesel prices rise, other fuels become even more desirable. According to a presentation submitted to the IMO in October, methanol is produced from natural gas, and a ratio of 30 to 70 percent diesel and biofuel is cost-competitive with low-sulfur fuel oil. The vessel owners with the largest fleets stand a chance of passing the costs on, enhancing their position. By using IMO to enforce market unity and, at the same time, punish free riders. The largest container line, AP Moller-Maersk A/S, has resisted from switching to LNG-fueled ships because it present in various certain that the shipping sector would switch to zero-carbon fuels. According to reports, the IMO decided to include a carbon price in the future emission-reduction measures in May 2022.

19/01/2023

On January 17, 2023, an oil tanker exploded at a dockyard on the Mae Klong river in Thailand’s Muang district. Seven individuals are still unaccounted for, two people died, and four others suffered serious injuries. 500 metres from the vessel, parts of one of the dead were discovered. The blast was audible more than 10 kilometres distant and caused damage to surrounding homes.

Watch the Explosion Video here.

It was extremely difficult to combat the fire and seek for survivors as a result of the fire’s violent escalation and many explosions. The mobilisation of more than 10 fire engines came from several authorities.

The provincial labour protection office will question the employer and other parties to ascertain whether the Occupational Health and Safety Act was broken, according to Niyom Songkaew, chief of the Department of Labour Protection and Welfare.

24 December 2022

The ports of Sines and Rotterdam have signed a MoU relevant to the project H2Sines. On a unit near Sines, RDAM plans to manufacture green hydrogen, liquefy it, and ship it to Rotterdam using a special liquid hydrogen transporter. REN, Port of Sines, Port of Rotterdam, Gasunie, and ABN AMRO are supporting partners of the project in addition to ENGIE, Shell, Vopak, and Anthony Vede. The new pact comes after the governments of Portugal and the Netherlands signed an MoU in 2020 to establish vital marine hydrogen corridors.

In addition to the H2Sines.RDAM project, the ports of Sines and Rotterdam have been collaborating on the MAGPIE Project sMArt Green Ports for Integrated Efficient multimodal mobility, a call placed under the European Green Deal Horizon 2020. By 2028, the first shipment of liquid hydrogen is expected to be delivered from Sines to Rotterdam. For heavy transportation, hydrogen will be the fuel.

The port is also establishing the first green hydrogen supply network between two of Europe’s major ports, Rotterdam and Algeciras, with the Spanish energy provider Cepsa at the same time. By 2027, the trade channel is projected to be operational.

25 December 2022

Andhra Pradesh’s maritime infrastructure is anticipated to increase quickly as a result of renewed efforts to develop the numerous seaports that dot its 974 km of coastline.

The Krishnapatnam, Kakinada deep water, and Gangavaram ports are among the smaller ports that are thriving; in contrast, the Kakinada anchoring port and the Ravva port are mostly utilised for the import and export of food grains, as well as the gathering of offshore oil from a few rigs in the Krishna-Godavari basin, respectively. The Kakinada anchoring port, which was established about a century ago, is the oldest of these minor ports in terms of their histories, while for a now Machilipatnam port was as a major trading hub for British and other European traders throughout the 18th century. Aside from all this, a spate of new ports are being constructed to boost maritime infrastructure, with the Ramayapatnam port being the first to open. Only 20 kilometres separate it from Nellore city.

The AP Maritime Board (APMB) changed its strategy for building the remaining ports, giving Bhavanapadu (Srikakulam district) and Machilipatnam immediate priority (Krishna). With the exception of a few minor land acquisition concerns that the APMB is working to resolve with the departments involved, they are in advanced stages of tendering and grounding of works. Nine fishing harbours that are now being built by the APMB in two phases have been added to the port infrastructure.

26 December 2022

On October 7, 1933, the SS Jaladurga, the first passenger ship, sailed into the harbour of the Visakhapatnam Port Trust (now known as the Visakhapatnam Port Authority). At the time, the harbour’s creators and engineers had no idea that it would one day grow to be one of the nation’s major ports.
At the time, it was planned to use just one or two ports in the inner harbour to accommodate an annual volume of roughly 1.3 to 1.5 lakh tonnes of goods. Nearly 69 million tonnes of cargo were transported by the multiple-berth VPA during the fiscal year 2021–2022. According to K. Rama Mohana Rao, chairman of the VPA, the forecast for this year is more than 72 million tonnes.
The British administration had intended to build a harbour in Visakhapatnam at the turn of the 20th century to link the eastern coast to the interior in central India using the city’s natural resources. Creating a technical report was the responsibility of British Admiralty Col. H. Cartwright Reid. The major issue that arose during construction, nevertheless, was how to stop the constant silting at the harbour’s mouth. The duty of building the port and the harbour was given to Bengal Nagpur Railway after several tests in which two ships, Janus and Wellesdon, were sunk at the harbour’s entrance to create a breakwater. The port’s first phase was completed between 1927 and 1933, and on December 19, 1933, Lord Willingdon, the country’s viceroy and governor general at the time, officially opened it.

Plan for growth

VPA is now preparing to diversify its cargo profile given that bulk cargo is the company’s primary focus. According to Mr. Rama Mohana Rao, “instead of the conventional coal, oil, and other bulk cargoes, we are now focusing on handling food grains and preliminary talks with investors are on to establish storage facilities with an investment of roughly $200-300 crore.” Aside from this, it is predicted that crude oil imports will increase since Hindustan Petroleum Corporation Limited (HPCL) has increased its capacity from 8 million tonnes to 15 million tonnes and is likely to increase further now that its expansion project is almost complete. In addition to mechanizing a few berths through a public-private partnership at a cost of around 288 crore, the VPA is also planning covered storage sheds to reduce dust pollution.

The renovation of the railway yard, the building of covered sheds, and the maintenance of the ORS and LPG jetties are all included in the expansion of the infrastructure. On the other hand, work is progressing on the projected Cruise-cum-Coastal cargo terminal, which is expected to cost 96.05 crore and will include other infrastructure and facilities at Channel Berth zone in Outer Harbour of VPA, in addition to providing for cargoes.

28 December 2022

After the Soviet Union’s fall in 1991, Russia, which had previously dominated the global Communist hierarchy, is now a junior partner to a resurgent China, which already has a significant technological edge in the twenty-first century. President Vladimir Putin and Chinese leader Xi Jinping are scheduled to interact before the end of the year.
Sources claim that from December 21 to December 27, “Maritime Interaction-2022,” naval exercises between China and Russia were performed in the East China Sea between the coasts of Zhoushan and Taizhou in China’s Zhejiang Province.
Within the framework of the bilateral naval exercise, detachments of battleships from the Russian Pacific Fleet and the People’s Liberation Army of China’s Naval Forces performed practical tasks, such as simulating the use of depth charges to capture an enemy submarine and artillery to engage a warship. Both navies hunted for a suspected enemy submarine and launched a volley of jet depth charges with the help of anti-submarine planes. A published video showing that Russian sailors speaking in Mandarin to their Chinese counterparts and Russian ships firing missiles.

14 December 2022

In its Global Trade Update for December 2022, the UN trade organisation observed that after a record year, global trade growth had actually decreased in the second half of 2022. According to UNCTAD, $25 trillion would be spent on products and $7 trillion on services in global commerce by 2022. According to such projections, business in goods will rise by 10% through 2021 and trade in services would rise by 15%. The first half of 2022 saw strong growth, which is partly to blame for those record levels. On the other hand, the second half of the year saw a slowdown in trade growth, according to UNCTAD. According to its data, the trade in services decreased by 1% in Q3 2022 compared to Q2 2022 while increasing by 1.3%.The value of global trade will decline in Q4 2022 for both commodities and services, according to UNCTAD’s nowcast assessment of current trade.

Although UNCTAD’s preliminary data indicates a decline in the value of goods traded, volumes increased by 3%, reflecting what it claims to be continued strength in global demand. A better logistics system, less traffic, and declining freight charges were among the other encouraging aspects mentioned in the research. A restructuring of global supply chains through sourcing diversification, re-shoring, and near-shoring, all of which are anticipated to have an impact on trade in the upcoming year, was having an impact on trade patterns. Trade patterns will also reflect the transition to a greener economy, as carbon-intensive products and fossil fuel energy become less popular. Lower economic growth and high product prices were two of the issues UNCTAD highlighted as negatives. As interest rates rise, high energy costs are lowering economic projections, while equivalent price rises in products and inputs are decreasing import demand.

According to UNCTAD, the combination of rising interest rates and record levels of global debt has led to increased worries about the sustainability of debt, particularly for highly indebted governments in a climate of tightening financial conditions. For 2023, it is anticipated that the current trade decline would get worse. Positive developments don’t seem to outweigh negative concerns, despite the fact that the future for global trade is still uncertain, according to UNCTAD.

https://www.seatrade-maritime.com/containers/trade-slowdown-worsen-2023-unctad

October 21, 2022

The GMU-MAREX International Maritime Legal Conference held today in Mumbai awarded Seros Shipping as the “Trailblazer of the year in Indian Shipping”. This will be an eye-opener for many and will assist all stakeholders to deal with arising solutions in a diligent manner.

Seros Shipping has always taken steps to encourage green shipping standards and logistics in the Indian Shipping Industry. It has been awarded and recognized by numerous news platforms for its initiatives around sustainable shipping practices.

“We are a young shipping company. We have got anchor handling tugs and barges, and we are serving the oil and gas production at Bombay High. Going forward, we are going to increase our fleet to support the ONGC. Also, we are looking to pick up a few tankers and we are on a stage to build tugs on a hybrid mode – electrohydraulic, whereby we will be reducing the carbonization by 20%. That’s the future. We are in for something green,” said Seros Shipping.

Check out the video of the award-receiving ceremony below.

About Seros:

Seros Group is a conglomerate with the purpose to provide logistics support and solutions. With operations over different services across various sectors, such as Maritime, Energy, Offshore, and Logistics, they concentrate on the core functions. The logistics network extends far and wide, delivering products to the remotest of places in the country. They work with a single objective of providing clients with an experience of hassle-free services through transparency and high-quality customized logistic solutions.

Also Read: One is still missing after four crew members fell off a cargo ship in Taiwan strait

October 20, 2022 

Four crew members of a 31,236-ton cargo ship that was off the coast of Yunlin County on October 17 reportedly went missing, prompting the Taiwan coast guard and the National Airborne Service Corps to launch an extensive sea and air hunt for the missing Vietnamese national.

At nearly 6:00 pm on Monday, the National Coast Guard Administration notified the Central Taiwan Maritime Affairs Center of the Maritime and Port Bureau. Around 5:30 p.m., west of Mailiao Township, the bulk carrier VIMC SUNRISE was attempting to anchor when four of its crewmen reportedly fell into the ocean.

Three crew members were reportedly hauled back into the cargo ship after some of the 22-member crew members tossed some lifebuoys into the water. According to reports, one crew member had a severely broken arm, while two crew members shattered their legs. The fourth person, the ship’s chief mate, was still unaccounted for.

The National Airborne Service Corps also sent out a chopper, while the coast guard chose to send out two patrol boats. Due to exceptionally strong winds with gusts reaching as high as 11 on the Beaufort scale, the helicopter was forced to turn around. The search mission was also impeded by several five-meter swells.

The captain of the freighter made the decision to steer the ship south in order to obtain wounded crew members’ medical treatment, and at around 5:00 am on October 18, the ship arrived at the Port of Kaohsiung.

The crew member allegedly went missing again after the air search was halted in the morning. The strong northeasterly monsoon winds and Tropical Storm Nesat in the South China Sea are currently having a negative impact on the ocean and weather patterns in the Taiwan Strait.

Also Read: Dozens of LNG=laded vessels queue off the coasts of Europe, not able to unload

October 18, 2022

According to reports, dozens of ships carrying liquefied natural gas (LNG) are hovering around the Spanish coasts. Due to overcapacity at the factories that convert fuel from ships into gas, several European nations are unable to secure the slots required for unloading.

Due to Russia’s reduction in gas exports as a result of sanctions imposed by Western countries in reaction to the attack on Ukraine, Europe is currently experiencing a crisis in its energy supply.

The area has had to develop alternative sources of supply, such as LNG. However, it has reportedly been shown that Europe lacks “regasification” capability as a result of the influx of massive cargoes of the super-chilled fuel.

Eight ships are anchored near the Bay of Cadiz, while over 35 LNG-loaded ships are circling the Mediterranean Sea off the coast of Spain. Analysts, dealers, and sources connected to LNG plants are familiar with the situation reported on Monday.

According to reports, the cargo backlog has caused worrisome concerns about Europe’s ability to handle LNG supplies needed to make up for the shortage of Russian pipeline supply.

This week, Spain is giving six cargo slots at its regasification ports, which is less than a quarter of the number of vessels waiting in line off its coasts, according to an industry source. The nation has a total of six airports.

According to a source with knowledge of the situation, there are apparently LNG vessels anchored near to other European countries, which could mean that dozens more are on standby. The LNG floating offshore cannot be used since there aren’t enough regasification plants or pipelines connecting the nations having those facilities to other European markets.

According to Alex Froley, an expert LNG analyst at data intelligence giant ICIS, “we’ve observed many cargoes waiting offshore in southern Spain or circling in the Med, and other cargoes waiting off the UK.” The constraints were made worse by lower domestic consumption in Spain due to the warm weather and lower industrial demands as the European economy weakened.

Another factor stated by ICIS’s Froley that contributed to the congestion was the expectation of price increases. Some ships are waiting to sell cargo at a higher price in anticipation of an increase in heating demand, which might reduce the additional shipping costs paid by remaining offshore. According to Froley, the technique partially succeeds since certain businesses allow flexibility in shipping portfolios due to disruptions like the closure of the US Freeport plant. According to reports, he was alluding to the second-largest US LNG exporter, which shut down in 2022 (June) as a result of a fire and an explosion.

He added that businesses might not have been able to keep the ships waiting for so long if more cargo were produced. The ships may even examine alternate ports outside of Europe for cargo offloading if the backlog isn’t reduced fast enough.

To facilitate its supply, China halted selling LNG to international buyers on Monday. According to market participants, this action may encourage more ships to head to Asia. Spain has six facilities, which is the most in the EU and accounts for 33% of LNG capacity and 44% of storage for LNG.

According to data released by Enagas, Spain’s national gas grid operator, gas tanks in Spain are often 80% full, which is close to the technical limit. When queried about the tanks, an Enagas official responded that the data is promising in terms of ensuring the energy supply for the winter.

Since there is insufficient pipeline infrastructure, it is impossible to ship the gas to other European nations. Meetings between the presidents of France, Germany, Spain, and Portugal are planned for this week in an effort to achieve a deal on the MidCat pipeline, which could carry Spanish gas and, eventually, hydrogen, to central Europe.

By building a third gas pipeline between Spain and France, MidCat is anticipated to reduce Europe’s dependency on Russian gas, according to its main sponsors in Lisbon, Madrid, and Berlin.

Also Read: Containership reportedly sank in the red sea after catching fire

October 16, 2022

The container ship under the flag of Panama reportedly sank in the Red Sea about a week after a cargo hold fire.

When the TSS Pearl caught fire last Friday, October 7, the Saudi Press Agency was the first to report it. At the time, the ship was about 123 nautical miles northwest of the Port of Jizan. All 25 members of the crew jumped ship and were managed to pick up by nearby ships.

According to Japan’s NYK Line, the pure car and truck carrier Orion Leader saved eight seamen soon after midnight local time on October 6 after getting an emergency call about a burning cargo vessel. The sailors were moved by Orion Leader to the bulk ship St. Dimitrios, which was also helping with the rescue. Accident management consulting According to information provided by WK Webster today, the ship sank about 186 miles (300 km) southeast of Port Sudan, and numerous containers were floating close by.

The Instagram page @salvage_and_wreck posted the below video early in the week:

 

 

 

 

 

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A post shared by Salvage and wreck (@salvage_and_wreck)

Rafidain Shipping and Tehama Shipping Services, both of which have offices in Dubai, are listed as the TSS Pearl’s owners and managers in the Equasis database. The event is another addition to the sector’s never-ending effort to put out containership fires. The problem is frequently misdeclared freight.

Also Read: Coastal industry is still affected by Mississippi’s declining water level

October 15, 2022

The Mississippi River’s water level is continuing to drop, which has a significant impact on the state’s heartland’s agriculture and business. The depth is getting close to a historically low last witnessed in 1988, which is causing barge traffic to slacken to a standstill. There is little to no relief in the forecast, and the river gauge at Memphis is currently at -8.9 feet, 3 feet less than it was over the last weekend. According to a National Weather Service forecast, the water level at Memphis might reach -10 feet by the end of the month, and the extended forecast anticipates under-precipitation throughout the Mississippi Basin for at least the next 30 days.

The Wall Street Journal was informed by Corps of Engineers official Lisa Parker that “there is no rain in sight.” The rivers have reached their lowest point. With capacity limited and per-ton freight costs reaching unbelievable highs, the shallow water has put loading limitations on the barges that transport soybeans, oil, coal, and other commodities up and down the river. From St. Louis, the tariff heading downward has increased by roughly five times since last October. Because of the daily groundings on the Mississippi’s shifting sandbanks, arrival times for traders are uncertain (and in some recent instances, temporarily shutting or restricting navigation in affected areas). In certain places, traffic is now only moving one direction at a time due to narrowing routes.

The soybean producers who are currently producing their fall crops are directly impacted by this. Siloes are filling up in farming communities along the Lower Mississippi due to a lack of barge transport capacity and the inability of rail and truck transport to handle the increased load. Farmers have often been forced to put off harvesting or storing their own produce, often by piling it on the ground and covering it with plastic.

According to Tennessee farmer John Dodson, “the majority of our stuff travels down the Mississippi River for export.” We’re at a halt if the terminal can’t handle it if the barges can’t get the grain to the ports in New Orleans, so those harvests basically get wasted. According to Tennessee farmer John Dodson, “the majority of our stuff travels across the Mississippi River for export.” “And we’re at a halt, so those crops just sit in the field,” he continued, “if the terminals cannot take it if the barges cannot convey the grain down to the seaport in New Orleans.”

Also Read: Explosives from world war II hinder investigation of a breach in the Nord stream pipeline

A coal carrier outfitted with Wind Challenger (a hard sail wind power propulsion system) was delivered and began operation on October 7, 2022, according to Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) and Tohoku Electric Power Co., Inc. (President: Kojiro Higuchi; Headquarters: Sendai-shi, Miyagi Prefecture). When the ship was finished, Oshima Shipbuilding Co., Ltd. (President: Eiichi Hiraga; Headquarters: Saikai-shi, Nagasaki Prefecture) staged a naming and handover ceremony, during which the ship was given the name SHOFU MARU.

The SHOFU MARU, the first ship in the world with Wind Challenger, will transport coal for Tohoku Electric Power Co., mostly from Australia, Indonesia, and North America. In comparison to a conventional vessel of the same type, the introduction of the Wind Challenger is anticipated to reduce greenhouse gas (GHG) emissions by about 5% on a Japan-Australia voyage and by about 8% on a Japan-North America West Coast voyage and help to reduce GHG emissions during fuel transportation.

MOL and Tohoku Electric Power Co. keep up their efforts to stabilize the transportation of energy resources and lessen their negative environmental effects.

A technology called the Wind Challenger was created primarily by MOL and Oshima Shipbuilding and uses a telescoping hard sail to harness wind power to move the ship. It is possible to minimize the amount of fuel required for operation by installing the system, which is anticipated to have a positive influence on the environment and increase economic efficiency.

SHO FU translates to “pine” and “wind” (matsu and kaze, respectively). The name of the ship is taken from “Kaze no Matsubara,” black pine trees planted in Noshiro, Akita Prefecture, to prevent erosion, and “Wind from Wind Challenger,” in the expectation that the ship will function effectively even under challenging circumstances. The shipping contract was announced on December 10, 2020.

Outline of the coal carrier SHOFU MARU with the Wind Challenger:

Also Read: Gothenburg Port and North Sea Port Establish a Green Corridor