Maersks Fuel Costs Set to Rise by USD 2 Bn from Sulphur

first_imgzoomImage Courtesy: Maersk The annual fuel bill of Danish shipping giant A.P.Moller Maersk is set to increase by USD 2 billion a year, at least, amid rising costs from the implementation of the 0.5 percent sulfur cap in 2020.Simon Bergulf, director for regulatory affairs at A.P. Moller-Maersk A/S, told Bloomberg that the issues stemming from the new regulations have almost created a perfect storm, taking into account the expected tight availability of compliant fuels and required investments in infrastructure and research.As informed, the company spent USD 3.37 billion on fuel last year, meaning the new regulations are likely to almost double these expanses.Maersk plans to comply with the new rules by using low sulphur fuel. The company said earlier that it was not investing in scrubbers taking into account various operational concerns.As part of its efforts to ensure availability of compliant fuel, earlier this month Maersk tamed up with Royal Vopak, an independent tank storage operator, on a project aimed at launching 0.5 percent sulphur fuel bunkering facility in Rotterdam.Under the project, Maersk will be able to supply its ships with compliant fuel at Vopak’s modified facilities at Vopak Terminal Europoort.The 2020 sulphur regulation, which will ban ships from using any marine fuel with a sulphur content above 0.5 pct as of January 1, 2020, is expected to impose a heavy burden on owners as the annual fuel costs for the shipping industry are likely to jump by up to USD 60 billion, including by USD 10 billion for the containership sector alone.Fears have been raised that some owners might opt to dodge the regulations and not invest in compliant fuels as paying a fine for non-compliance would be much cheaper. Maersk CEO Soren Skou said earlier this year that the only way for creating a level playing field with the new regulation would be strong enforcement, including banning of non-compliant ships.World Maritime News Stafflast_img read more

DJ Khaled Unleashes Top Off With Beyoncé JayZ Future

first_img Facebook News Twitter DJ Khaled Unleashes “Top Off” With Beyoncé, Jay-Z, Future DJ Khaled Is Back With All-Star “Top Off” dj-khaled-unleashes-top-beyonc%C3%A9-jay-z-future Email New drop “Top Off” brings the “We The Best” warmth of spring as Beyoncé, Future and Jay-Z join DJ Khaled to heat things up Philip MerrillGRAMMYs Mar 2, 2018 – 4:52 pm DJ Khaled has done it again as the first single from his upcoming Father Of Asahd album, “Top Off,” arrived March 2, with Jay-Z setting things off, Beyoncé impressive as ever and Future bringing juice to the track’s sticky chorus.This is DJ Khaled’s second collaboration with the first family of music. Beyoncé and Jay-Z were previously featured on the 2017 single, “Shining.” And of course, DJ Khaled helped make summer 2017 special with “Wild Thoughts,” featuring Rihanna and Bryson Tiller. His growing reputation as collab-maker has long shined, and the power of his knack brought them to the GRAMMY stage for the 60th GRAMMY Awards where he called out the haters who told him he’d never get there.While there’s still no word on a release date for Father Of Ashad, “Top Off” gives fans something to look forward to in the meantime.Catching Up On Music News Powered By The Recording Academy Just Got Easier. Have A Google Home Device? “Talk To GRAMMYs”last_img read more

Ssangyong To Debut XLV Concept At Geneva Motor Show Will Rival Ford

first_imgSouth Korean automaker SsangYong is all set to introduce its new XLV concept at the upcoming 2014 Geneva International Motor Show, which is scheduled to be held in March.The XLV concept, a compact SUV measures 4,430mm in length, 1845mm in width, 1,600mm in height  and a wheelbase of 2,600mm. Udner the hood, the car packs 1.6-litre diesel engine with an electric motor which is powered by a lithium-ion battery and the SUV concept is arranged in an innovative 2+2+2+1 arrangement.The car will flaunt SsangYong’s new design philosophy ‘Nature born 3 motion’, which projects ‘rhythmical and dynamic exterior design and is aimed at the smart user who is active and seeks individuality and practicality’.”The XLV is a multi-role B-segment SUV concept, featuring significantly lower CO2 emissions thanks to its mild hybrid system which combines a 1.6 litre diesel engine with an electric motor powered by a lithium-ion battery,” the company said in a press release.American automotive company Ford’s EcoSport has been a huge success across the globe. In India; the EcoSport received overwhelming response since its launch.Under the hood, EcoSport comes with 1.5L petrol, 1.5L diesel and the 1.0L EcoBoost engine. The 1.5L petrol engine is expected to give 112 PS power and 140 Nm torque. It will come in both manual and automatic transmissions. The manual transmission model claims to give a mileage of 15.8 kmpl, while the automatic model is expects to deliver 15.6 kmpl. The revolutionary EcoBoost EcoSport engine churns out a power of 125 PS and 170 Nm torque along with a mileage of 18.9 kmpl.last_img read more