Corporate News

Eco Wave Power Global AB, a publicly traded onshore wave energy technology company announced the appointment of Ran Atias as Vice President of Engineering for the Eco Wave Power Group. Mr. Atias will begin his employment immediately and will be based in Eco Wave Power’s headquarters in Tel Aviv, Israel. Ran Atias Mr. Atias holds an MBA and a B.Sc. in Mechanical Engineering from Ben-Gurion University and joins Eco Wave Power with broad experience in the management of high-complexity me...

The business of Air Way Automation Ltd (Air Way), a supplier of automated bolt-feeding solutions to the automotive and general industries, has become part of Atlas Copco Group. Air Way is headquartered in Michigan, USA, and has 98 employees. Automation acquisition “This acquisition complements one of our recent acquisitions and will further strengthen Industrial Technique’s offering in the area of automation,” said Henrik Elmin, Business Area President for...

A subsidiary of Klaveness Combination Carriers ASA has entered into an agreement with the builder of the CABU III newbuildings, Jiangsu New Yangzi Shipbuilding Co. Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd, to install its first ever Wind Assisted Propulsion System (WAPS) with two bound4blue eSAILs® suction sails on the third CABU III newbuilding for delivery in Q3 2026. The newbuild will be one of the first tanker/dry bulk vessels to feature bound4blue’s cutting-edge WAPS te...

Kongsberg Maritime has delivered its 1,000th ship design-the IWS Seawalker, a state-of-the art windfarm service operation vessel (CSOV), and one of six ‘Skywalker Class’ UT5519 DE for IWS Fleet. In a naming ceremony in the port of Hanstholm, Denmark, the IWS Seawalker, becomes the third Skywalker Class vessel to be delivered, and is due to be deployed in the North Sea in the coming weeks. Innovative vessel designs Kongsberg Maritime’s design team has been delivering inn...

The European Space Agency (ESA) has initiated a new flagship project, Decarbonisation through the Digitalisation in Shipping (DECARDIS), together with optimisation platform company Awake.AI, technology pioneer ABB and shipping company Wallenius Marine. The consortium, funded by ESA and led by Awake.AI, will collaborate on a port call optimisation solution, which focuses on helping ships cut greenhouse gas emissions by overcoming inefficiencies in the ship-port interaction.  Smart ship te...

Global HR, payroll, and crew management software specialist - Adonis, under the Ripple Operations brand, has entered into a strategic marketing partnership with Certus Online, a globally renowned provider of maritime booking and operational solutions, to enhance their combined service offerings for the maritime industry. The agreement marks a significant step towards providing seamless, integrated solutions for maritime operators. Adonis’ HR systems Certus Online’s Booking Platfor...

Ocean Network Express (ONE) released the financial result for FY2024 2nd Quarter (from July 2024 to September 2024). The revenue for FY2024 2nd quarter was USD 5,864 million, up 65% from the same quarter of the last year, with a net profit of USD 1,999 million (YoY +USD 1,812 million). The Asia-North America and Asia-Europe trades have experienced strong demand, driven by consistent consumer demand and an early peak season in July and August. In addition, early shipments in the North Ameri...

Technology group - Wärtsilä has introduced its innovative NextDF feature for the Wärtsilä 25DF dual-fuel engine. While operating on liquefied natural gas (LNG), the NextDF feature reduces methane emissions to less than two percent of fuel use across all load points, achieving as low as 1.1 percent in a wide load range. What’s more, the nitrogen oxide (NOx) emissions are lower than on the standard Wärtsilä 25DF engine, which already has low emission levels bel...

ClassNK has issued an approval in principle (AiP) for a 30,000 m3 LNG carrier equipped with two Mark III Flex membrane tanks, developed by GTT. The vessel’s ballast tank design and ballasting operations allow for the elimination of filing limits, enhancing operational flexibility. The AiP demonstrates the feasibility of this design concept. LNG carrier In LNG carriers with membrane tanks, filing limits are often required based on the strength assessments against sloshing loads, which ca...

MacGregor, part of Cargotec, has launched a new free-of-charge digital Carbon Calculator to help container shipping companies estimate the carbon dioxide emissions they can eliminate by upgrading their onboard container cargo system with MacGregor Cargo Boost. Cargo Boost solution By maximising container-carrying capacity on board existing ships, the Cargo Boost solution has been shown to increase average cargo system utilisation from conventional rates of 80% to 90%, or even 100%. Across a 1...

3t, the UK-based global pioneer in safety-critical training, had the honour of hosting senior officials from the Maritime and Coastguard Agency (MCA) at its state-of-the-art training centre in Dyce, Aberdeen. The visit centered on strategic discussions about upskilling the maritime workforce to meet the evolving demands of traditional energy sectors and the emerging marine renewables industry.  Maritime safety and workforce As part of the MCA’s global remit to support maritime...

In a significant step towards establishing eco-friendly maritime practices, South Korea successfully conducted its first Simultaneous Operations (SIMOPs) of ship-to-ship methanol bunkering at Busan New Port on 4th October. This groundbreaking achievement marks a crucial advancement in the nation's commitment to developing a sustainable ship fuel supply chain. Key highlights First-ever SIMOPs methanol bunkering in South Korea. 11-hour operation supplying approximately 3,000 tons of methanol...

DNV has awarded an Approval in Principle (AiP) to HD Hyundai Heavy Industries (HD HHI) for its 15K TEU ammonia dual-fuelled container vessel design. This milestone follows the successful completion of a joint development project aimed at addressing the challenges associated with using ammonia as a marine fuel. Ammonia as a marine fuel The project focused on developing cutting-edge designs to enhance safety, including an optimised ammonia tank design, advanced fire safety systems, enhanced amm...

ClassNK has issued an Approval in Principle (AiP) for the Autonomous Navigation Assistance System - ‘SAS’ developed by Samsung Heavy Industries, Co., Ltd. Samsung Autonomous Navigation Assistance System (SAS) is a partially Autonomous Navigation System (ANS) including the functions of situational awareness through sensor fusion and electronic navigational chart information, collision and grounding risk assessment, and collision and grounding avoidance. Design, installation, and mai...

The Baltic Exchange has launched a Know-Your-Customer (KYC) platform to give the maritime sector greater access to company data to support informed decision-making and meet increased regulatory obligations. KYC platform KYC is a regulatory requirement in the banking and financial services sectors to ensure businesses do their due diligence on customers to prevent fraud, money laundering, and terrorism financing. With shipping a vital part of global commerce, the need to manage the risk of fra...

An arbitration dispute highlighted in the latest Claims Review by the International Transport Intermediaries Club (ITIC) has concluded with a shipbroker settling a $380,000 claim. Accused of breach of contract and negligence for not disclosing critical navigation restrictions to charterers, the case underscores the paramount importance of transparent communication and due diligence in the shipbroking industry. The incident The incident began when a shipbroker arranged a charter party (CP) agr...

The Brun Bear Foundation, a registered charity established by Edwin Lampert, executive editor of Riviera Maritime Media, is pleased to announce the launch of “Mealtimes With My Maritime Friends.” This unique cookbook celebrates the global maritime community while raising funds for important causes. Featuring 60 inspiring recipes from around the world, contributed by prominent figures in the maritime industry, this book offers a taste of maritime culture alongside the personal storie...

SRT Marine Systems plc (SRT), a global provider of maritime domain awareness systems and technologies for security, safety, and environmental protection, is pleased to announce that it has agreed a substantial investment and short-term finance bridge support package from existing shareholder Ocean Infinity (OI), worth approximately £31 million.   Finance support package This new financing allows SRT to immediately satisfy the need for the substantial performance bond required under...

ABS released its latest report into the potential of advanced nuclear technology for maritime applications, with a study of a small modular reactor on a standard liquefied natural gas (LNG) carrier. Feasibility and safety The transformational impact of a high-temperature, gas-cooled reactor (HTGR) on the design, operation, and emissions of a 145,000 m3 LNG carrier design was modeled by ABS and Herbert Engineering Corporation (HEC). The study is designed to help the industry better understand...

With its many peninsulas and bays, coves, and small headlands, the UK coastline is a complex stretch of land to monitor and patrol. Traditional coastal surveillance methods utilising patrol aircraft and vessels are very expensive and non-persistent. However, big data and machine learning (ML) are providing a solution, lowering the cost of these tasks and transforming the way the coastal maritime activity is monitored, analysed, and responded to by agencies and governments. AI-powered maritime...

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) and Inmarsat Maritime, a Viasat company, are pleased to announce that “K” LINE will conduct a trial of Inmarsat Maritime's new bonded network service NexusWave on “K” LINE's fleet. NexusWave seamlessly integrates multiple high-speed networks in real-time to enable high-speed, always-on ship-to-shore communications, thereby enhancing digitalisation of ship operation and environmental response, as well as the welfare of se...

INTERCARGO, the International Association of Dry Cargo Shipowners, has announced significant changes to its leadership following its Annual General Meeting. The new appointments will take effect from 1 January 2025. In recognition of their distinguished service, Mr. Dimitrios Fafalios has been appointed Honourary Chairman following six years as Chairman. Mr Fafalios, President of Fafalios Shipping S.A., has led INTERCARGO through significant developments in the shipping sector since 2019, havin...

Fincantieri is pleased to announce that it has signed contracts with Viking for the construction of two new cruise ships, based on the successful features of the previous vessels, which Fincantieri has already built for this shipowner in its Italian yards. The units will be delivered in 2030. Fincantieri and Viking have also reached an agreement for four additional ships in option with deliveries scheduled for 2031 and 2032. Latest environmental rules Fincantieri and Viking for...

Important decision by the Federal Ministry for Economic Affairs in Berlin and the Federal Network Agency in Bonn: the Hamburg Hydrogen Industry Network ‘HH-WIN’ will become part of the nationwide, almost 10,000-kilometre-long hydrogen core network. This means that Hamburg's industry will be able to benefit from a standardised hydrogen network fee in the future.For Hamburger Energienetze GmbH, which is implementing HH-WIN in the port area of Hamburg, this step will provide financial...

Wilhelmsen Ships Service and Yinson GreenTech have signed an agreement to build a charging infrastructure for Hydromover, Singapore’s first fully electric cargo vessel, at Wilhelmsen's Pandan Loop facility in Singapore. This project aligns with ongoing efforts by the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI), aiming to promote the electrification of harbour craft as part of broader industry shifts towards lower-emission solutions. Lower-emi...

MAN Energy Solutions launches ‘AmmoniaMot 2’ research project with industry partners and research institutes. Having designed and tested the first two-stroke ammonia engine, MAN Energy Solutions has now announced launching the ‘AmmoniaMot 2’ research project. Initiated by MAN with partners from industry and research institutes, the project aims to develop a four-stroke, medium-speed, dual-fuel test engine that runs on ammonia. Internal-combustion engines Supported by t...

Kongsberg Maritime will supply an extensive range of equipment for a new fleet of 10 platform supply vessels (PSV) being built by Fujian Mawei Shipbuilding in China for Greek shipowner, Capital Offshore. This significant contract win is valued at approximately 800 million MNOK, and includes all propulsion, automation, and energy systems. Oil and gas operations The 10 contracted vessels mark a major investment by Capital Offshore in the PSV market The 10 contracted vessels mark a major invest...

The decision in Verein KlimaSeniorinnen Schweiz and Others v. Switzerland has set a precedent requiring state parties to the European Convention on Human Rights to assess the effectiveness of their legislative regimes to protect individuals who are most vulnerable to the effects of climate change. While this is a finding against states, they are likely to seek to comply with their own obligations under international law by introducing new domestic laws and regulations affecting busine...

Kongsberg Discovery demonstrated the ability of advanced hydroacoustics to illuminate the world beneath the waves with a detailed, efficient, and comprehensive inspection of the historic Lower Harbor Ore Dock at Marquette on Lake Superior. Lower Harbor Ore Dock The iconic structure, a pivotal point for the transportation of iron ore from Michigan mines right across the Great Lakes region, dates back to the late 19th century.  Kongsberg Discovery’s 21st-century multibeam sonar and i...

ABS helped bring together industry and government pioneers for a U.S. Maritime Strategy Workshop to help stakeholders align on key policy and commercial priorities. This was the third in a series of workshops organised to inform a U.S. national maritime strategy and was done in collaboration with the U.S. Federal Maritime Commission (FMC), the Office of Senator Mark Kelly, and the Office of U.S. Representative Michael Waltz. Challenges and recommendations The U.S. maritime industry faces seve...