UK must be ready for rise of electric vehicles, says ABB chief

first_imgMotoring Energy Travel and transport Share on Pinterest Ethical and green living Electric, hybrid and low-emission cars news Share on Twitter Energy industry Share on Messenger Share via Email … we have a small favour to ask. More people, like you, are reading and supporting the Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we made the choice to keep our reporting open for all, regardless of where they live or what they can afford to pay.The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We hope you will consider supporting us today. We need your support to keep delivering quality journalism that’s open and independent. Every reader contribution, however big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Reuse this content Share on Facebook Formula E Support The Guardian Topics Share on LinkedIn Share on WhatsApp The UK should speed up preparations for the rise of electric vehicles, according to the chief executive of ABB, the world’s largest supplier of fast-charging points.Speaking as the Switzerland-based engineering firm became the first official sponsor of the electric street racing series Formula E, Ulrich Spiesshofer predicted a flood of consumer take-up of plug-in cars.And he added his voice to warnings that Britain must move faster to make sure owners of electric vehicles are not stymied by a shortage of charging bays.“E-mobility is unstoppable, it’s just a question of how fast and how deep it will be deployed,” he said. “The UK has a big population that really wants to contribute to a greener, more sustainable world. But there’s always a question of whether it’s quick enough. In the next couple of years, it’s in the interest of everybody to make sure the infrastructure is coming up.”He said this would include adding to the UK’s network of electric charging points, as well as ensuring enough energy capacity.There are 14,344 charging connectors in the UK, according to ZapMap, which charts the scale of the UK’s network.Those charging points served around 132,000 plug-in vehicles at the end of 2017, but the National Grid has predicted that the number of electric cars could surge to 9m by 2030.“In the next couple of years, it’s in the interest of everybody to make sure the infrastructure is coming up,” said Spiesshofer.He welcomed the government’s budget pledge to spend £400m on improving the UK’s charging point network but warned that the power grid also needed to be ready to meet the increased demand.Electric cars have been forecast to add about 18 gigawatts of power demand to the grid, the equivalent of six Hinkley Point C nuclear power stations.Spiesshofer said he hoped ABB’s sponsorship of Formula E, which will last until 2025, would help spur interest in electric cars and lead to technological breakthroughs.The Formula E season’s first “e-prix” is in Marrakesh on 13 January. Since you’re here…last_img read more

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BIMCO Dry Bulk Fleet Tops 800 Mn dwt

first_imgzoom Driven by a drop in dry bulk demolition and a surge in deliveries, the dry bulk fleet grew by 2.6% year-on-year in January 2017 exceeding 800 million dwt, according to shipping association BIMCO.Dry bulk demolition was halved in the first month of 2017 when compared to the same period a year earlier, while total dry bulk deliveries reached the highest level since January 2013.As the fleet continued growing at 2.8% in February 2017, BIMCO informed that if the fleet growth remains above 2%, the dry bulk shipping industry “cannot rely on global demand to cure the oversupply caused by this fundamental imbalance in the market.”The shipping association said that industry actions, such as demolition, need to get back to the activity levels seen in the first half of 2016, where demolition figures balanced out close to 80% of the inflow of new dry bulk ships to the market.Despite an uneasy start to 2017, fleet growth will start to stagnate and BIMCO expects to see a supply growth of 1.6% for the whole of 2017.“We expect to see an increase in the fleet across the board for dry bulk shipping in the first quarter of 2017, in part because this is always the quarter with the most deliveries of newbuilt ships,” Peter Sand, BIMCO’s Chief Shipping Analyst, said.Some 19 million dwt could be sent to the shipbreaking yards in 2017, less than the previous two years of demolition activity when the industry scrapped around 30 million dwt annually.Segmented demolition and delivery activityThe capesize segment breached the 2% fleet growth barrier in January 2017, after a constant increasing growth rate during 2016, since a 0% fleet growth rate in January and February 2016.This increasing capesize fleet growth is a result of capesize deliveries exceeding demolition activity. The first half of 2016 saw net capesize fleet growth of 0.3 million dwt and 5.6 million dwt in the second half of the year. In the first two months of 2017, the capesize fleet has grown by 2.2 million dwt.The panamax segment experienced a stall in fleet growth in the first three quarters of 2016, which led to a decrease in the growth rate. As the second half of 2016 delivered the lowest number of panamax bulkers in seven years, the demolition activity also stalled and the year on year fleet growth went from – 0.3% in October 2016 to 1.7% in February 2017.The handymax achieved the largest drop in fleet growth rates of all four segments, as it decreased from 7.2% in January 2016 to 4.9% in October 2016. However, it is still the highest fleet growth rate across all dry bulk segments, but shows an increasing willingness towards scrapping, as 4.3 million dwt of demolished handymax tonnage in 2016 was the second highest ever.The handysize segment saw the lowest amount of dwt entering the market in eight years, while demolition activity also dropped to the lowest amount of dwt in six years. Thereby, the dry bulk shipping industry did not reap the full benefit of the reduced handysize deliveries, although handysize fleet growth decreased from 1.7% to 1.5% during 2016.last_img read more

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