Will turning autumn leaves stir new trouble for energy markets?
Since posting the midsummer and subsequent late summer editions of Energy Highlights, the petroleum, gas and electricity markets have continued ...
Embarking on a groundbreaking journey, the ‘Pyxis Ocean,’ a remarkable kamsarmax cargo carrier, recently commenced its first wind-powered voyage from Singapore to Brazil. A testament to innovation, this vessel is equipped with two towering 37.5-meter automated sails, a remarkable feat achieved through collaboration between British BAR Technologies and Norwegian Yara Marine Technologies.
These sails are not just impressive in stature; they symbolize a critical step in the shipping industry’s pursuit of sustainable solutions. Anticipated to save up to 30% of conventional propulsion fuel, and potentially more with low-carbon alternatives, the ‘Pyxis Ocean’ showcases a tangible way forward in a world where decarbonization is paramount.
Constructed from steel and fiberglass, these sails pivot strategically to harness the power of prevailing winds, supporting the ship’s engine and optimizing its trading routes. With Mitsubishi Corporation as its owner and 80,000 tonnes of Cargill cargo on board, the ‘Pyxis Ocean’ exemplifies how sustainable innovation can shape the industry.
Further underlining its global significance, the project received support from the European Union, highlighting the international cooperation needed for such transformative ventures.
As the ‘Pyxis Ocean’ sails gracefully across the Pacific, we extend our best wishes for safe passage. This voyage isn’t just a journey; it’s a beacon of sustainable progress in the maritime world.
Reina Maria van Pallandt is a senior disputes resolution lawyer with dual British and Dutch nationality. After obtaining an LLB Honors degree in Dutch Law and Public International Law at the University of Amsterdam (UvA), Reina Maria studied International Law of the Sea at London School of Economics (LSE).
Prospect Law is a multi-disciplinary practice with specialist expertise in the energy and environmental sectors with particular experience in the low carbon energy sector. The firm is made up of lawyers, engineers, surveyors and finance experts.
This article remains the copyright property of Prospect Law Ltd and neither the article nor any part of it may be published or copied without the prior written permission of the directors of Prospect Law.
This article is not intended to constitute legal or other professional advice and it should not be relied on in any way.
Prospect is a multi-disciplinary practice with specialist expertise in the energy and environmental sectors with particular experience in the low carbon energy sector. The firm is made up of lawyers, engineers, insurance and risk management specialists, and finance experts.
This article remains the copyright property of Prospect Law Ltd and neither the article nor any part of it may be published or copied without the prior written permission of the directors of Prospect Law.
This article is not intended to constitute legal or other professional advice and it should not be relied on in any way.
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