CMB is consolidating tanker and technology interests within Euronav and OSG has been granted US government aid to develop carbon capture and storage facilities in Florida
EURONAV to acquire CMB.TECH
Euronav NV and its controlling shareholder CMB NV have entered into a share purchase agreement to acquire 100% of the shares in CMB.TECH NV for a purchase price of US$1.15Bn in cash.
CMB.TECH is a diversified cleantech maritime group which builds, owns, operates and designs large marine and industrial applications that run on dual-fuel diesel-hydrogen, diesel-ammonia and monofuel hydrogen engines.
CMB.TECH is creating a future-proof low-carbon-emitting fleet of 106 vessels, of which 46 are under construction.
Overseas Shipholding Group awarded federal grant to develop captured carbon terminal
Overseas Shipholding Group, Inc (OSG), a leading provider of energy transport services, has been awarded a US$400,000 grant from the United States Department of Energy to study the development of its proposed Tampa Regional Intermodal Carbon Hub (T-RICH).
The study is intended to evaluate the commercial feasibility of developing an intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across the State of Florida.
T-RICH would receive, store and process 2M tonnes of CO2 per year, which would be transported by OSG vessels across the Gulf of Mexico for permanent underground storage.
Clarification for shipping companies in EU ETS
Shipping entered the EU Emission Trading Scheme (ETS) on 1 January 2024 and in 12 months’ time, will be responsible for compliance with the EU ETS-obligations and surrender emissions allowances.
Norway-based law firm Wikborg Rein has issued guidance to owners on how to approach EU ETS, including how to document and treat various shipping contracts such as bareboat charters, management agreements and time charters to clarify which party is financial responsible for the EU ETS.
Union Maritime orders more new tankers
UK-based Union Maritime was one of five owners to place tanker newbuilding orders in December 2023. Union Maritime’s order for two 18,500-dwt clean tankers at Wuhu Xinlian joins 20 other tankers the group has on order.
Bocimar of Belgium ordered two 25,000-dwt stainless steel tankers in China, and compatriot Euronav contracted two Suezmax tankers and one VLCC tanker in China.
Greek companies Performance Shipping (Aliki Paliou interests) and Cape Shipping (Andrianopoulos family interests) added two LR2 tankers each to Shanghai Waigao shipyard’s orderbook.
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