The Baltic Exchange - Experts & Thought Leaders

Accelleron will launch a landmark Net Zero report at London International Shipping Week (LISW) this month, calling on shipping to join forces with other industries and pool demand for carbon-neutral fuels. The call to decarbonise shipping has sparked a technological renaissance in the past decade that has enabled vessels to slash emissions in a variety of ways and be powered by carbon-neutral fuels. But the production of such fuels at scale and at affordable prices has yet to materialise. IMO’s approaching targets Accelleron’s report fuses proprietary modelling with ample insights from peers across the shipping The result? While over a hundred billion dollars have been invested in maritime decarbonisation, carbon emissions have continued to rise, widening the gap to the IMO’s approaching targets. Accelleron’s report combines proprietary modelling with extensive insights from peers across the shipping value chain to determine the current stalemate and map a comprehensive way out: Pool demand for hydrogen-based fuels with other hard-to-abate sectors, such as aviation, steel, power and agriculture to trigger scaleable investment in production and infrastructure. Empower ports to enable change by bringing together industry to aggregate demand, orchestrate supply chains and reduce risk for investors. By catalysing cross-sector cooperation, shipping can be driver of the energy transition in hard-to-abate sectors rather than a passenger. Shipping’s 2030 emissions reduction target “The stakes are high as we strive to meet shipping’s 2030 emissions reduction target. Success hinges on implementing energy-saving technologies and going viral with fuel efficiency. But that’s just the first step in decarbonisation,” said Daniel Bischofberger, Chief Executive Officer at Accelleron. He adds, “The bigger challenge is developing carbon-neutral fuels, which are critical not only for the decarbonisation of maritime but for sectors contributing over 70% of global emissions. Solving this will require unprecedented cross-industry collaboration and a shared commitment to accelerating fuel development and adoption.” Report at LISW’s Global Hub Accelleron’s report is a call to action - and an invitation - to build the solutions already known to be possible. Accelleron will launch the report at LISW’s Global Hub on Tuesday, 16th September (1400–1600 UK time) and will host a panel discussion, followed by a Q&A, with: Patrick Verhoeven, Managing Director, International Association of Ports and Harbors Mark Simmonds, Director of Policy and External Affairs, British Ports Association Chris Waddington, Technical Director, International Chamber of Shipping Isabelle Ireland, Head of Operations, Intercontinental Energy Matt Dunlop, Group Director, Sustainability & Decarbonisation at V. Group, Strategic Partner, Secondee, Mærsk Mc Kinney Møller Center for Zero Carbon Shipping Christoph Rofka, President, Medium and Low Speed, Accelleron Martin Crawford-Brunt, Chief Executive Officer, Lookout Maritime, and Council Member, Baltic Exchange (Moderator) The panel will explore questions such as: Why shipping’s decarbonisation has stalled despite major technological advances The scale of investment required for green hydrogen as the foundation of shipping’s net-zero future How fragmented demand is blocking progress and what we can do about it The critical role of ports as a nexus for cross-sector demand aggregation How shipping can act as a catalyst for the wider cross-sector energy transition

Baltic Exchange, in collaboration with Xinhua News Agency, proudly announces the release of the 2025 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report. This annual report, now in its 12th year, ranks the world’s pioneering shipping centres based on a comprehensive evaluation of port factors, professional business services, and the general environment. For the 12th consecutive year, Singapore has been recognised as the world’s pioneering shipping centre, achieving a score of 99.50 out of 100. Singapore’s enduring success is attributed to its strategic location, robust international outlook, and a well-established ecosystem of professional maritime services. Maritime support services Rotterdam solidified its position as a European pioneer by maintaining its strong sixth place London once again secured second position with a score of 81.02, demonstrating its continued prominence as a maritime support services powerhouse. Shanghai, with a score of 81.01, retained third place, highlighting its significant role as a major port city in Asia. London and Shanghai have maintained their positions within the Index for the past five years. Hong Kong (80.77) and Dubai (75.97) rounded out the top five, emphasising the strength and importance of these key global shipping hubs. Rotterdam solidified its position as a European pioneer by maintaining its strong sixth place from 2024 to 2025. Investment in port infrastructure Ningbo Zhoushan and Athens/Piraeus swapped positions this year, with Ningbo Zhoushan moving up to seventh and Athens/Piraeus settling in eighth, while Hamburg remains steady in ninth. New York/New Jersey rounded out the top 10 owing to its strong cargo handling despite major disruptions and strikes, continued investment in port infrastructure, and its pioneering role as a global centre for shipping finance and maritime services. Key findings of the 2025 ISCDI Report: Top Performers: Singapore, London, and Shanghai continue to lead the rankings, underscoring their global leadership in shipping. China’s Shipping Centres on the Rise: Guangzhou, Qingdao and Tianjin all have improved their rankings, while Ningbo-Zhoushan climbed to seventh — marking its third consecutive year of upward movement. The strong showing reflects China’s sustained investment and growing global influence as a maritime powerhouse. Top 20 New Entrants: Los Angeles and Vancouver were new features to this year’s list, taking 19th and 20th position, marking two new North American ports in the global rankings. ISCDI Report ISCDI Report evaluates a total of 43 maritime locations, considering various port metrics The ISCDI Report evaluates a total of 43 maritime locations, considering various port metrics such as cargo throughput, crane count, container berth length, and port draught. It also assesses the presence of professional maritime support businesses, including shipbroking, ship management, ship financing, insurance, and legal services, alongside hull underwriting premiums.  Additionally, the evaluation considers general business environment factors like customs tariffs, the level of electronic government services, and overall logistics performance. Prosperous future for shipping Mr. Mark Jackson, Chief Executive of Baltic Exchange, commented, "This year’s rankings reaffirm the crucial role of established maritime centres like Singapore, London, and Shanghai, alongside emerging hubs, in providing the infrastructure and expertise needed to keep supply chains efficient and reliable amid persistent geopolitical tensions and economic uncertainty."  Mark Jackson adds, "We congratulate all the pioneering shipping centres recognised in this report and remain committed to partnering with the global maritime community to ensure a sustainable and prosperous future for shipping." EU ETS implementation Mr. Cao Zhanzhong, Head of Xinhua Index Research Institute of China Economic Information Service, said, "The shipping industry is undergoing a transformative shift. Although facing many challenges, the dry bulk market hit a new record, fuelled by iron ore and coal demand." Cao Zhanzhong adds, "Container shipping normalised post-pandemic, while the tanker and LNG sectors faced headwinds from oversupply and shifting trade patterns. Meanwhile, decarbonisation accelerated, with the EU ETS implementation, IMO’s CII framework, and wind-assisted propulsion technologies signalling a greener future." innovating and investing in digitalisation Mr. Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore, said, "We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a pioneering international maritime centre and global hub port." Ang Wee Keong adds, "We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future-ready international maritime centre."

Baltic Exchange has launched the maritime industry’s first-ever free Fuel Equivalence Converter, a reliable, easy-to-use digital calculator that helps owners, traders, brokers and charterers to navigate the complexity of the physical properties of the wide variety of marine fuels that are currently available on the market.  The Fuel Equivalence Converter is the latest resource provided by Baltic Exchange to help shipping players understand the cost and commercial implications of greener fuel options following the launch of its FuelEU Maritime Calculator in December 2024, which was then expanded to include biofuels in March 2025. Traditional bunker and green fuel options The converter enables users to compare the mass, volume and energy content of various traditional bunker The converter enables users to compare the mass, volume and energy content of various traditional bunker and green fuel options in order to better understand how their bunker supplies would be impacted to achieve an equivalent energy level. This type of data is critical for owners and operators looking to reduce their compliance costs or run their vessels on cleaner alternatives.  Range of potential fuel alternatives “With a number of standard and alternative fuels available on the market, finding the conversion rates and energy ratios of all of the options in one place is incredibly difficult." "As the range of potential fuel alternatives increase, this converter enables owners, charterers, traders and more to understand the physical properties and energy content by volume of each fuel type,” said Martin Crawford-Brunt, Emissions Lead at Baltic Exchange. Fuel consumption of the Baltic standard Fuel consumption of the Baltic standard ship is defined in terms of metric tonnes per day of marine fuel oil “Finding viable fuel options for our specific trades and ship types requires informed, data-led decisions that are grounded in reality. Just as we have done with our other emissions-related calculators and resources, Baltic Exchange is helping the industry to cut through this complexity,” Crawford-Brunt added. The fuel consumption of the Baltic standard ship is expressed in terms of metric tonnes per day of marine fuel oil. The Fuel Equivalence Convertor can be used to quickly find the volume or mass of an alternative fuel to provide a similar amount of energy.  Vessel’s bunker fuel storage At present, the converter includes VLSFO, HFO, LFSO Crude, LFSO Blend, ULFSO, MDO & MGO, LNG, Ammonia and Methanol. It also includes various unit types, including metric tonnes (mt), cubic metres (cbm) and MMBtu, enabling shipping players to understand how different fuel options will impact their vessel’s bunker fuel storage and management systems. Baltic Exchange’s Fuel Equivalence Converter Baltic Exchange’s Fuel Equivalence Converter shows that this vessel would require 38.4 mt of MGO For example, the fuel consumption for a 300,000 dwt Very Large Crude Carrier (VLCC) at an eco-speed of 11 knots and in laden condition is 39.8 mt of VLSFO. Baltic Exchange’s Fuel Equivalence Converter shows that this vessel would require 38.4 mt of MGO or 33.4 mt of LNG in order to achieve the same energy levels. Similarly, the converter shows that the same vessel would require 82.4 mt of methanol or 88.2 mt of ammonia to achieve the same level of output. Baltic Exchange decarbonisation journey “Understanding the potential impact on operations of the many alternative fuel options is crucial given the shipping industry must navigate the growing number of emissions regulations coming into force, successfully. By simplifying the process and providing this converter to the industry free of charge, alongside our other calculators, Baltic Exchange is doing its part to support decision makers with their decarbonisation journey,” Crawford-Brunt noted.  “As always, we look forward to feedback from the industry to understand more about how we can improve our tools and resources to make them more effective for real-world users,” he added.