Corporate News

SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Construct, install, and operate Under these contracts, SBM Offshore will construct, install, and then lease and operate the ONE GUYANA FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL....

The latest Indicator shows that the number of seafarers onboard vessels beyond the expiry of their contract has decreased slightly from 5% from 4.2% in the last month, while the number of seafarers onboard vessels for over 11 months has remained stable at 0.4%. This is the first decrease in numbers, albeit slight, since December 2021. The Neptune Indicator also reports a 4.4 percentage point increase in seafarer vaccines, from 72.8% in March to 77.2% in April, as seafarer vaccinations have sta...

A new video highlighting how improved technology can be used to help the global shipping industry meet its ocean sustainability targets has been produced by Canada’s Thordon Bearings. Addressing environmental footprint The short video aims to encourage the shipping industry to adopt, ‘New Technologies for Greener Shipping’ the IMO’s World Maritime theme for 2022 as a way of addressing wide-reaching concerns over the sector’s environmental footprint. Focusing on S...

GPS Group, the storage and logistics provider, and Rietlanden Terminals, are pleased to announce that they have successfully completed a transfer of NOx (Nitrogen Oxides) disposition rights. Sustainable energy products The transfer, now confirmed through a permit that has become irrevocable, transfers such rights from Rietlanden Terminals to GPS Amsterdam and thereby supports GPS’s expansions including the recently completed rail project and bio ethanol storage, which are supportive of t...

IWS already has the two identical vessels on order for delivery in 2023, mentioned above, and option agreements for up to two additional vessels, making this a potential six-vessel series. This fleet has been designed specifically for the renewable offshore wind market, with a clear focus on reduced emissions and enhanced sustainability. The vessels will be built to Kongsberg Maritime’s UT 5519 DE design by the shipyard China Merchant Heavy Industries (CMHI), with which KM has a long and...

Inmarsat, the globally renowned company in global, mobile satellite communications, has published a new decarbonisation report exploring the impact digital technology can make on shipping’s greenhouse gas (GHG) emissions. Compiled by maritime innovation consultancy - Thetius and sponsored by the Inmarsat Research Programme, The Optimal Route – The Why and How of Digital Decarbonisation in Shipping provides evidence that digital optimisation offers a key strategy for owners set on me...

Babcock, the aerospace, defense, and security company, joined forces with the Royal Navy at Rosyth to commemorate the 40th anniversary of the Falklands conflict (2 April – 14 June 1982). To mark this anniversary, more than 50 current and former Babcock employees, Royal Navy personnel, armed forces veterans, and representatives from the local community attended a service that included the unveiling of a plaque on the site. The Royal Marine band provided an uplifting welcome at the e...

Queensland Magnesia (QMAG), a supplier of magnesia products, became the first Oceania-based customer to choose Maersk ECO delivery to reduce the company's carbon footprint in transportation. By joining efforts towards decarbonisation, Maersk offers QMAG certified carbon neutral shipping based on sustainable biofuel, a solution to help QMAG to make progress towards its ambitious sustainability goals. Sustainable future “Partnerships are crucial to secure a sustainable future and no compa...

ClassNK has issued an Approval in Principle (AiP) for the design of a floating offshore hydrogen production plant developed by the Japan Offshore Design & Engineering Platform Technology & Engineering Research Association (J-DeEP).The amount of power generated by offshore wind turbines is likely affected by weather conditions, and surplus electricity may be generated when supply exceeds demand on land. Production plant The floating offshore hydrogen production plant developed by J-...

The board of directors of Drillmec, a Piacenza-based company in the Oil & Gas sector, part of Indian infrastructure giant Meil Group has approved the investment plan for over 35 million euros in the energy transition which includes initiatives in production of hydrogen through the most advanced technologies available such as electrolysis, pyrolysis and the design and construction of Co2 capture and storage systems and last but not least geothermal energy. In this context, Drillmec has launc...

Norwegian Cruise Line Holdings Ltd., a global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, and Huna Totem Corporation, one of the most successful Native village corporations in Alaska, jointly announced the signing of a Memorandum of Agreement to develop berthing and upland facilities in Whittier, Alaska. The privately funded development project will consist of a marine vessel docking facility able to berth vessels from the Comp...

MSC Group (Mediterranean Shipping Company) confirms that it has entered into a share purchase agreement with Bolloré Group, in relation to the 100% acquisition of Bolloré Africa Logistics (including all of Bolloré Group’s shipping, logistics and terminals operations in Africa, as well as its terminal operations in India, Haiti and in Timor-Leste) for a purchase price based on an enterprise value, net of minority interests, of 5.7 billion euros.  Acquisition of Bo...

ClassNK offers its third-party Innovation Endorsement ‘Provider Certification’, which supports innovative initiatives, to companies and organisations. As companies pursue ESG-oriented management and SDGs, ClassNK conducts the third-party certification on the initiatives to transform their own business methods and organisations in order to establish a sustainable and competitive business. There are three categories of certification available to companies according to their innovation...

MPC Container Ships ASA (‘MPCC’ or the ‘Company’, and together with its subsidiaries, the ‘Group’) is pleased to announce the following company update. The company update includes the Charter update on existing fleet. The update includes the following: Over the past weeks, MPCC has concluded five additional fixtures, including four multi-year charters at very favourable rates, securing employment up to 2027. The new fixtures add contracted charter revenue...

Atlas Copco has appointed Amanda Billner as its new Media Relations Manager. Amanda Billner has many years of experience from working with communications and media relations. She is currently the Press Manager at Swedbank. Previous positions include Head of Press for Centerpartiet, as well as several positions as a reporter for different Swedish media and the news agency Bloomberg. Amanda Billner has a journalism degree from Stockholm University, Sweden. She will take up her new position in May...

Inmarsat, the globally renowned company in global, mobile satellite communications, has unveiled e-learning technology and service provider, Marine Learning Systems (MLS) as the winner of the inaugural Inmarsat Ferry Open Innovation Challenge, a competition inviting start-ups and SMEs to propose digital solutions that promise to enhance the working lives of ferry crews. Launched in January 2022, in collaboration with the largest ferry operator in Greece, Attica Group, and UK digital consultancy...

Long-term contracted ocean freight rates climbed by 7% in March, pushing shipping prices up 96.7% year-on-year. The rise, revealed in the latest Xeneta Shipping Index (XSI®) Public Indices for the contract market, further boosts the coffers of leading carriers, with Evergreen the latest name to disclose record annual revenues of USD 17.67bn. However, as Xeneta CEO Patrik Berglund points out, the sustainability of such developments remains to be seen. Onwards and upwards Xeneta’s XSI...

ClassNK has issued an Approval in Principle (AiP) to GTT’s technical solution fitted with a Mark III membrane tank. The design developed by GTT is an upgrade of the Mark III system with design pressure up to 2 bar gauge (barg) for LNG fuel applications. The company describes that the 2 barg upgrade is particularly useful for PCTCs and cruise ships, and offers improved pressure holding capabilities and operational flexibility, particularly during bunkering operations. Tank verificatio...

On March 30th, 2022, SBM Offshore launched its new floating wind energy solution, Float4WindTM. Float4WindTM is the second generation of SBM Offshore’s innovative offshore wind floater technology, a key aspect of the Company’s long-term strategy to support the energy transition. Tension Leg Platform (TLP) design The new and improved version of the Tension Leg Platform (TLP) design, a technology historically utilised in traditional oil & gas production, is ideal for harnessing...

Oceania Cruises, a pioneering culinary- and destination-focused cruise line, announced the addition of dozens more dedicated staterooms for solo travelers along with the debut of the line's Go Green and Beyond Blueprints shore excursion series as part of its OceaniaNEXT initiative. Discover, explore and connect Each of the four ships will feature 14 Solo Oceanview Staterooms, which debut aboard Regatta on September 25, 2022; Nautica on September 26, 2022; and Insignia and Sirena on Oct...

Babcock International Group, the aerospace, defense and security company, has achieved Ready for Sea Date for the Type 23 frigate HMS Somerset at Babcock’s Devonport facility. Maintenance and repairs  HMS Somerset started her extensive overhaul at Babcock’s Devonport facility in November 2018. During that time, she has undergone a significant upkeep, which has included repairs and updates to her hull and living spaces, replacement of her Sea Wolf with the new Sea Ceptor weap...

In the presence of the Egyptian Prime Minister, a Memorandum of Understanding (MoU) was signed in a joint bid to further accelerate the supply of green fuels and the global transformation to net-zero shipping. This partnership follows six fuel sourcing partnerships announced earlier this month, and with it, Maersk joins forces with the General Authority for Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (E...

The Maritime Skills Commission (MSC), established by Maritime UK and the Department for Transport in 2020, is launching its Future Ports Workforce Research Report. The report came as a recommendation from the MSC’s Labour Market Intelligence Scoping Report in October 2020. The modern port is a significantly different place from the port of history. It is increasingly shaped by forces such as the globalisation of supply chains, automation, and digitisation. It is also shaped by external...

Inmarsat, the pioneer in global, mobile satellite communications, has made its maritime broadband service, Fleet Xpress, available to shipyards. Installed during new building, Fleet Xpress for Shipyards eliminates time-consuming and costly installation works in port, offering owners a pre-fitted very small aperture terminal (VSAT) solution included in the initial cost of the vessel. “Fleet Xpress for Shipyards is a game-changer for shipbuilders and owners alike, streamlining installation,...

The day after the war broke out in Ukraine, Blue Water was contacted by a client who needed their assistance unloading four aircraft over the weekend. The aircraft would land at the Rzeszow-Jasionka Airport (RZE) in Poland about one and a half hour drive from the Ukrainian border. Safe cargo delivery  Blue Water's scope was to get the cargo safely to the border of Ukraine including the handling, counting, and reloading of the cargo and to make sure the delivery was complete. The next ste...

ArkEdge Space Inc. has completed a new round of financing through SPARX Innovation for Future Corporation and Pavilion Capital PTE as new shareholders, raising JPY 635 million (approx. USD 5.2 million) and joining existing shareholders Incubate Fund and Mitsui Sumitomo Insurance Capital Co. Added to an initial round in January 2022, led by Incubate Fund and including Real Tech Fund and Mitsui Sumitomo Insurance Capital Co., the total amount raised in Series A is JPY 2.3 billion (approx. USD 18....

Fender Innovations of Wieringerwerf, manufacturers of lightweight fender systems for fast-sailing vessels, has completed a commercially important acquisition. The new partner is PolyMarine Service based in Vlaardingen, manufacturers of cast fender systems for slightly heavier workboats. Both companies will form part of the Fender Innovations Group. For Fender Innovations, this is the first acquisition since the company was founded in May 2012. The company continues to grow and has reported a 25...

Rising COVID-19 cases in China, large-scale fuel stock-outs in Sri Lanka, and developments in Europe, among other global supply chain disruptions, have had an increasing impact on shipping volumes in Quarter 1 of 2022 and have exacerbated port congestion across the world. Demand remains incredibly strong, which continues to put increased pressure on the global supply chains, as capacity is still tied up outside ports in the US, Europe and Asia. Despite the disruptions witnessed across various r...

Shipping Innovation – Maritime UK, the Owner and Manager of London International Shipping Week (LISW), the globally renowned maritime industry event, is delighted to announce the appointment of Karen Martin as the new Commercial Director. Karen Martin will be responsible for all sales and commercial activities related to London International Shipping Week (LISW) and will be the point of contact for sponsors and advertisers for the next installment of LISW, scheduled to take place in Septe...

Babcock, the aerospace, defence, and security company, has signed a Memorandum of Understanding (MoU) with one of Korea’s largest shipyards Daewoo Shipbuilding & Marine Engineering (DSME) to collaborate on systems integration programmes for future vessels. This follows the MoU signing between Babcock and Hyundai Heavy Industries (HHI) in June 2021 to focus on the South Korean Navy’s future light aircraft carrier project opportunity, CVX.  Ongoing operational support Babco...