Meet the cement transport ship that makes cement ingredients while sailing
London-based Seabound has developed a carbon capture system that transforms CO 2 from the engine into limestone, a key ingredient in cement.
Fittingly, the company has installed it aboard the UBC Cork, a cement carrier currently sailing through the Mediterranean Sea. When the ship docks in Norway, the limestone created from the voyage will be offloaded and used to make more cement at Heidelberg Materials' net-zero plant in Brevik. (The name Heidelberg may ring a bell — earlier this year, it inked a deal to deploy more than 100 autonomous trucks from former Google exec Anthony Levandowski's startup Pronto.)
Both maritime shipping and cement are highly polluting industries, representing about 3% and 8% of global carbon emissions, respectively.
Their emissions are challenging to address, too. For shipping, batteries are not currently energy-dense enough to enable the sorts of voyages many vessels undertake. And the chemical reaction that forms Portland cement, the most widely used type, releases carbon dioxide, to say nothing of the fossil fuels that typically drive the process.
There's some urgency for maritime shipping to rein in its pollution: The International Maritime Organization (IMO), which regulates the global shipping industry, will require owners to trim greenhouse gas emissions from their fleets by 30% over the next decade, rising to 65% by 2040.
Seabound is just one company developing potential solutions. Another, Amogy, is proposing using its clever ammonia-cracking technology to deliver zero-emission power.
While ammonia has gained currency in the shipping industry as an energy-dense fuel with the potential to eliminate greenhouse gas emissions, its use would require ships to overhaul or completely replace their power plants.
Seabound is proposing a retrofit that would leave existing internal combustion engines intact, adding a carbon capture system that would tap into their exhaust pipes. Heidelberg Materials said that the use of Seabound's technology would help it reduce the emissions that result from shipping its cement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
Sir Keir Starmer's chief of staff highest paid special adviser
Sir Keir Starmer's chief of staff is the highest paid Government special adviser, new figures have indicated. Morgan McSweeney is paid between £155,000 and £159,999, according to data released by the Cabinet Office on Thursday. A raft of other senior Number 10 advisers, also known as spads, occupy the next highest pay rung on salaries between £145,000 and £149,999, as well as the Chancellor's top economic adviser. National Security Adviser Jonathan Powell is also within the same pay bracket. Veteran diplomat Mr Powell was appointed as a special adviser in a political capacity last year, a break from the norm which saw previous post-holders taken on as civil servants. Overall the pay bill for spads in the 2024/25 was £16.7 million, but this included £3.1 million in severance costs, which would have covered outgoing advisers from the previous Conservative government. The salary bill was £9.5 million, lower than the £10 million spent in the previous year, while national insurance contributions have increased from £1.3 million to £1.6 million over the same period. According to the Government's release, as of March 31 there were 130 special advisers across the Government. Salaries over £76,000 are declared in bands of £5,000. Mr McSweeney was the only person in the £155,000 to £159,999 band.
Yahoo
an hour ago
- Yahoo
Virturo's Senior Investment Specialist Alex Melnyk Integrates AI Tools to Navigate Crypto Market Risk
London, United Kingdom, July 17th, 2025, FinanceWireAlex Melnyk, 42, is a seasoned Senior Investment Specialist at Virturo, based in London's Knightsbridge. With a global finance background and advanced credentials (Chartered Financial Analyst, Chartered Alternative Investment Analyst, and Financial Risk Manager), Alex brings over 15 years of market experience to high-net-worth clients. Alex grew up in Luhansk (Eastern Ukraine) and earned his degree at the Financial University under the Russian Government (2003–2008). In 2009, Alex moved to the US, where he traded for major banks until 2017, then managed his own portfolio through 2020. In 2021, Alex joined Virturo, blending his institutional trading expertise with cutting-edge fintech. He lives in London with his wife Allison and their two young sons, embodying the balance of family values and professional insight. Credentials: CFA, CAIA, FRM certifications demonstrate Alex's rigorous financial knowledge and risk-management expertise. Career Highlights: Over a decade on Wall Street trading desks, followed by entrepreneurial crypto trading before joining Virturo in 2021. Client Focus: Known for clear communication, Alex guides sophisticated investors through digital markets with personalized strategies. Expertise and Virturo's Approach At Virturo, Alex leverages AI-driven tools alongside his own market insights. Alex explains that Virturo's platform combines 'advanced AI-driven analysis and human supervision' to identify trading opportunities and build robust strategies Under his leadership, the firm has expanded real-time data and risk-management capabilities. Alex points out that these AI tools 'provide personalized trading strategies to ensure crypto investments align with long-term financial goals". In practice, this means customized stop-loss/take-profit settings and predictive analytics to protect client portfolios in volatile crypto markets. Alex's professional judgement, backed by quantitative models, helps clients capitalize on crypto's growth while managing downside risk. According to Alex, today's macro trends make crypto an essential part of diversified portfolios. Alex notes that as the 'digital economy expands, assets like Bitcoin and Ethereum are becoming crucial in long-term portfolio strategies". In other words, digital currencies now serve as both diversification and an inflation hedge – often called 'digital gold' – for savvy investors. Current market data support his view: Bitcoin recently surged to a fresh record above $118,000, its all-time high. Analysts forecast even higher levels soon, citing strong institutional inflows and regulatory tailwinds. A 2025 survey found that 89% of high-net-worth crypto investors plan to increase their digital-asset exposure this year, reflecting widespread confidence in this asset class. These developments, Alex says, validate his focus on disciplined crypto exposure for wealth growth. Investment Philosophy and Vision Alex's investment philosophy centers on patience, education and alignment with client goals. He often reminds clients to 'trust the process' – meaning to follow a well-researched strategy even during market swings. 'Trusting the investment process is essential,' Melnyk says. 'By remaining patient and disciplined, investors give their strategies time to succeed.' This perspective comes from years of navigating bull and bear markets. He encourages clients to stay focused on fundamentals (like network security and adoption trends) rather than short-term noise. Another core belief is making capital work proactively. 'Our goal is to make your money work for you,' he adds. 'We align every decision with your financial goals to build lasting wealth.' In practice, Alex customizes each portfolio strategy to reflect individual risk tolerance and horizons. He believes education is key: clients who understand how crypto markets function will invest with confidence. That aligns with broader trends – investors today want advisors who are both risk managers and educators. Alex positions himself as a strategic partner who builds trust through knowledge and transparent communication, exactly what many affluent clients demand. By combining world-class credentials with a client-first approach, Alex Melnyk has earned the admiration and trust of Virturo's clients. His balanced view – optimistic about crypto's upside yet rigorous about risk control – inspires confidence. As one client notes, Alex makes complex markets accessible and 'offers a clear roadmap even in volatile times.' For high-net-worth investors seeking to grow their wealth through digital assets, Alex's guidance at Virturo represents both expertise and reassurance. Under his stewardship, clients feel empowered to seize crypto's potential, knowing their strategies are grounded in experience and supported by cutting-edge technology. About Virturo Virturo, a leading broker in CFD trading and financial technology, is redefining investment strategies with its AI-driven automated trading and advanced risk management solutions. Official Website: LinkedIn: YouTube channel: Facebook: Media TeamVirturo Media TeamVirturosupport@ | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Exclusive-Bank of England scrutinizes lenders for dollar risk amid Trump worries, sources say
By Stefania Spezzati, Jesús Aguado and Lawrence White LONDON (Reuters) -The Bank of England has asked some lenders to test their resilience to potential U.S. dollar shocks, three sources said, the latest sign of how the Trump administration's policies are eroding trust in the U.S. as a bedrock of financial stability. As the leading currency for global trade and capital flows, the U.S. dollar is the lifeblood of global finance. However, President Donald Trump's break from long-standing U.S. policy in areas such as free trade and defence has forced policymakers to consider whether the emergency provision of dollars in times of financial stress can still be relied on. Following similar demands from European supervisors, the Bank of England, which oversees banks in the City of London financial hub, has requested that some lenders assess their dollar funding plans and the degree to which they depend on the U.S. currency, including for short term needs, one of the people told Reuters. In one instance, one global bank based in Britain was asked in recent weeks to run stress tests internally, including scenarios where the U.S.-dollar swap market could dry up entirely, another of the sources said. The BoE's supervisory arm, the Prudential Regulation Authority (PRA), made the requests individually to some of the banks, the person added. No bank could withstand such a shock for more than a few days, according to one of the sources, given the dominance of the dollar in the global financial system and lenders' dependence on it. Should dollar borrowing become harder to obtain and more expensive for banks, it could hamper their ability to carry on meeting demands for cash. Ultimately, a bank that struggles to gain access to dollars could fail to meet depositor requests, undermining confidence and triggering further outflows. While this scenario is seen as extreme and unlikely, regulators and banks are no longer taking dollar access for granted. A spokesperson for the Bank of England declined to comment for this article. Representatives for the biggest UK banks with international businesses including Barclays, HSBC and Standard Chartered also declined to comment. Global banks have significant dollar exposure in their balance sheets, making them vulnerable to potential funding shocks. While the U.S. Federal Reserve has said that it wants to continue to make dollars available in the financial system, Trump's policy shifts have prompted European allies to reexamine their dependence on Washington. Meanwhile, Trump's repeated criticism of Fed chair Jerome Powell and reports the central bank chief may get fired are raising concerns of a loss of independence at the Fed and the repercussions on the dollar. The multi-trillion-dollar swap market is a critical part of the international financial system used by firms including banks to exchange other currencies for dollars to manage liquidity needs across their global networks. According to a study by the Bank for International Settlements, at the end of 2024 the notional value of currency derivatives globally was $130 trillion, 90% of which involved the U.S. dollar. A typical day sees almost $4 trillion in new FX swap contracts, according to BIS. Global banks can tap U.S. dollar deposits to withstand temporary shortfalls, one of the sources said. But regulators worry that international banks remain exposed to dollar risk, one of the people said. One of the sources told Reuters that bank leaders are particularly concerned about whether the Fed would support a mid-sized non-U.S. bank if it were to run into dollar shortage issues, where, in the past, such backing was assumed as guaranteed. The Fed has lending facilities with the European Central Bank, Bank of England and other major counterparts to alleviate shortages of the global reserve currency and to keep financial stress from spilling over into the United European central banking and supervisory officials for months have been questioning whether they can still rely on the Fed, as Reuters has previously reported. ECB supervisors have since asked some of the region's lenders to assess their need for U.S. dollars in times of stress, as they game out scenarios in which they cannot rely on tapping the Federal Reserve under the Trump administration. Earlier in June, the Swiss National Bank warned that "some banks may also face the risk of liquidity shortfalls in foreign currencies" in their balance sheets. The BoE has in the past asked banks how they would ensure a supply of dollars during times of stress, as in a 2019 system-wide check on banks' liquidity during a crisis, but the renewed focus on the U.S. currency showed how Trump's actions have revived such concerns. Reuters couldn't establish whether dollar shocks would be part of the stress test for the industry which the BoE runs every other year and whose results are expected later in 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
