Which Shipowners are Choosing Ammonia?
The shipping industry is looking into ammonia as an alternative fuel for powering ships, amid other ongoing plans to cut carbon emissions and achieve net-zero by 2050.Here is a list of companies with ammonia-fuelled ship projects:NIPPON YUSEN KAISHA (NYK)NYK, with IHI Power Systems and Nippon Kaiji Kyokai (ClassNK), completed the world's first ammonia-fuelled tugboat, Sakigake, on Aug. 23. The vessel…
Ship Recycling Market Hopeful as Baltic Index Drops
There seems to be positivity in the ship recycling market as the Baltic Index’s main Sea Freight Index fell for its ninth consecutive week this week, dropping to its lowest levels of the year, reports cash buyer GMS.“In essence, this decline especially affects older trading fleets, which in turn has seen all recycling markets register imports at their respective waterfronts this week, including a welcome return from Pakistan to the fray,” says GMS.
