JP Morgan doubles down on product tanker newbuildings - TradeWinds
JP Morgan doubles down on product tanker newbuildings | TradeWinds
Banking giant JP Morgan is continuing to expand its growing fleet with new ship orders.
The US bank has ordered two more 50,000-dwt product carrier newbuildings at China’s Guangzhou Shipyard International (GSI), Tradewinds has learnt.
Banking giant has four methanol dual-fuel 50,000-dwt MR tankers on order at GSI
Banking giant JP Morgan is continuing to expand its growing fleet with new ship orders.
The US bank has ordered two more 50,000-dwt product carrier newbuildings at China’s Guangzhou Shipyard International (GSI), Tradewinds has learnt.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”