The shipping sector will for the first time have to monitor its carbon emissions under a law agreed by the European Union on Wednesday, intended as a step towards tackling a growing source of pollutants linked to climate change.   International shipping accounts for around 3 percent of the world’s emissions of carbon dioxide, a share which could increase to 18 percent by 2050 if regulation is not in place, according to the International Maritime Organisation (IMO).   The law stop...

The trend towards megaships is not only inevitable, but ongoing and lower rates as a consequence of the big injection of capacity next year will incentivise container lines to chase down their costs in the lower rate environment, said Bank of America Merrill Lynch Head of Asia-Pacific Transportation Research Paul Dewberry.   Speaking at the Asian Logistics and Maritime Conference in Hong Kong, Dewberry added that the research house sees rates heading lower over the next two to three y...

Prime Minister Nguyen Tan Dung recently approved a development plan for Vietnam’s shipping industry for 2020, with a vision for 2030, aiming to ease the transportation burden on roads Global shipping industry sets sail under new standard Giving a boost to shipping industry development According to the plan, the majority of imports and exports are to be transported by sea, embedding Vietnam further into the global shipping network and connecting the country to distant destinations, such a...

Scorpio Tankers has purchased a newbuild product tanker being built at SPP Shipbuilding in South Korea, due for delivery next month, for $37.1m. Scorpio did not reveal who it was buying the newbuilding resale from, beyond it was an "unrelated third party". On delivery of the SPP newbuild in September, the vessel will join Scorpio’s existing fleet of 33 tankers, which saw further additions this month with the delivery of two MR product tankers, STI Dama from SPP and STI Olivia from Hyunda...