Alibra Shipping warns that shipping’s net-zero ambitions are losing priority amid geopolitical turmoil. With the US walking out of IMO deliberations and withdrawing from the Paris Agreement, decarbonisation plans face mounting delays. Giuseppe Rosano notes companies now adopt short-term climate strategies, doing only the minimum required.
“LNG-fuelled ships are exploiting loopholes in Europe’s FuelEU Maritime and EU ETS rules”, says Alibra Shipping. Credits and penalties cancel out, undermining decarbonisation efforts. Alibra warns this makes carbon taxes ineffective, allowing non-compliant vessels to avoid penalties and bank surplus credits.
Performance Shipping has agreed to sell the Japanese-built P Yanbu for $39m, nearly $5m over valuation.
Giuseppe Rosano of Alibra Shipping said: “We didn’t find this price for a non-scrubber Japan-built [ship] excessive,” hinting at emerging non-Chinese ship premiums.
Maritime NXT’s Punit Oza argues that west coast loadings are ‘critical’ for the country. Canadian oil exporters have been “smart” to get the new Trans Mountain Expansion (TMX) pipeline up and running.
“This infrastructure will also bypass the Panama Canal completely,” Oza told Alibra Shipping.
The founder of Novamaxis highlights the knowledge gap among crew tasked with implementing energy transition.
A report prepared by UK shipbroker Alibra Shipping highlighted that 700,000 crew members need training in how to work with these new bunkers.
German legislation on human rights and the environment could be a much-needed catalyst for shipping to get its house in order on seafarer welfare.
“It is a major milestone pushing businesses to assume full responsibility for their supply chains,” Alibra Shipping said in a research note.
IMO 2020 rules on sulphur emissions are having an unintended consequence in the world’s oceans.
UK shipbroker Alibra Shipping said global emissions of sulphur dioxide (SO2) from shipping have fallen by around 10% since 2020.
“But could this actually be contributing to global warning, the opposite to the intended outcome?” Alibra Shipping asked.
Alibra Shipping warns that merely cutting fuel consumption won’t be enough to comply with regulations such as the FuelEU Maritime initiative from 2025..
“Even if ships reduce fuel consumption, the average carbon factor measured by the FuelEU Maritime initiative will not reduce unless the fuel is changed or blended in with a more sustainable one” Alibra Shipping said.
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