Sri Lanka News

Strategic Marine, a pioneering provider of specialised aluminium vessels, is proud to announce the signing of a new contract with Odyssey Group to build a state-of-the-art multi-purpose survey vessel. Incorporating the proven success of new technologies for operational use in Australia. Under the terms of the agreement, Strategic Marine will construct the advanced survey vessel tailored to meet Odyssey Group’s specific operational needs. Recovery of survey equipment The vessel will also...

Watson Farley & Williams (WFW) and Hogan Lovells jointly advised on three separate greenship financing transactions with an aggregate value of US$1.5bn+. All three transactions, one of which was secured by Chinese ECA Sinosure, were carried out by the Green Loan Principles of the Loan Market Association. WFW advised arrangers, financing banks, and green loan arrangers, with Hogan Lovells acting for Hapag-Lloyd. Capacity expansions In October 2024, Hapag-Lloyd signed two orders for a total...

The Navy League of the United States is proud to announce the release of its 2025-2026 Maritime Policy Statement, a comprehensive report outlining the strategic priorities and legislative recommendations necessary to strengthen America’s sea services. This biennial publication serves as a guiding document for policymakers, industry leaders, and the public, advocating for investments that ensure the continued security, prosperity, and global leadership of the United States through maritime...

Fincantieri is pleased to announce that the Letter of Intent signed with Norwegian Cruise Line Holdings Ltd. (NCLH) on April 8, 2024, has been successfully converted into a firm order for the construction of four new cruise ships for the Norwegian Cruise Line (NCL) brand. This significant agreement, subject to financing and other customary conditions, represents a contract valued at over €2 billion. Comfort, technology, and sustainability With a gross tonnage of approximately 226,000 ton...

ClassNK has issued an Approval in Principle (AiP) for a design concept of a coastal liquefied CO2 carrier jointly developed by Mitsubishi Shipbuilding Co., Ltd. and Nippon Gas Line Co., Ltd. In building the CCS value chain, in addition to large ships transporting CO2 domestically and internationally, coastal vessels that collect CO2 from small-scale emission sites in Japan and transport it to base sites toward overseas storage sites play a crucial role, with demand expected to grow. Approval i...

Alfa Laval has signed an agreement to acquire NRG Marine, a provider of ultrasonic anti-fouling solutions for marine, oil and gas, and industrial applications, headquartered in the United Kingdom. The move aligns with Alfa Laval’s strategy to provide its customers with environmentally friendly solutions contributing significantly towards improving operational efficiency, reducing costs, and extending the lifecycle of the asset. Closing of the acquisition is expected during Q2, 2025. Inno...

ABS has stated the maturity of Aikido’s innovative floating wind platform design, the latest stage in new technology qualification. As part of the process, ABS witnessed a successful upending demonstration of the Aikido One unit, a 1:4-scale floating wind platform. The design can accelerate deployment and reduce costs for the rapidly growing offshore wind industry. Collapsed transportation configuration The test exhibited the platform’s ability to quickly deploy from its collapsed...

Russound, an internationally renowned pioneer in premium, multiroom audio, is shipping the much-anticipated D890 Eight-Channel Digital Amplifier. Part of the company’s D-Series amplifiers, the D890 is designed to expand an audio system into multiple rooms or zones or to add increased audio output for larger rooms or outdoor areas where a higher output volume is required. The D890 offers integrators powerful audio performance, source and control flexibility, and streamlined installation, m...

Econowind has surpassed 100 VentoFoil units sold, marking a major milestone in the shipping industry’s shift towards Wind-Assisted Ship Propulsion. The increasing adoption of the VentoFoil system reflects shipowners’ drive to cut fuel consumption, reduce CO₂ emissions, and comply with tightening global regulations. Since the first two units were installed on MV Ankie in 2018, Econowind has steadily expanded its reach. Today, 32 VentoFoil units are in operation, 33 are currently in p...

Offshore wind farms are currently serviced using Crew Transfer Vessels (CTVs) or helicopters for day operations, and Service Operation Vessels (SOVs) for extended periods. What if there were a CAPEX-smart design that reduces building costs by over 50% compared to an SOV and supplements the SOVs on most tasks? Greener energy The world needs greener energy, but high costs are a barrier. Raw material and equipment prices have more than doubled, halting many projects. Can users reduce the financ...

The only on-engine NOx reduction solution for marine two-stroke engines, designed by Swiss marine power company WinGD, will be deployed for the first time on commercial engines after securing type approval. The integrated Selective Catalytic Reduction (iSCR) solution was tested at Mitsui E&S DU (MESDU) Co’s factory in Aioi, Japan, where three WinGD 5X52-S2.0 engines are being built for bulk carriers under construction at a Japanese shipyard. Iteration features The type approval foll...

A surge in industry interest combined with systems builders and yards scaling up production and installation capacity, is set to accelerate growth in orders for wind-assisted propulsion systems (WAPS) in the coming years. In response to this trend, DNV's new whitepaper provides a detailed look at WAPS technologies, their onboard implementation, and potential fuel savings to help shipowners determine whether they are a viable business option for their vessels and operations. Design and operatio...

Corvus Energy, the supplier of zero-emission solutions for the offshore and marine industry, is proud to announce that it will deliver a mega-size battery system for the first fully electric offshore vessel ever to be built. The vessel is an electric Commissioning Service Operation Vessel (eCSOV) that will be constructed by Armon shipyard in Spain for UK-based shipowner Bibby Marine Ltd. World's first of its kind Corvus Energy will supply its Blue Whale Battery Energy Storage System (BESS) de...

The TMS Ship Finance and Trade Conference will be held on February 18th at the Taj Exotica Resort on the Palm, Dubai and several top-quality speakers have now been confirmed as the exciting conference programme takes shape.  The overall theme of the conference will be ‘Financing green shipping solutions.’  Keynote presentations Proceedings will get underway with keynote presentations by two industry figures, Dr. Ibrahim Al Nadhairi, CEO of ASYAD Shipping, and Capt. Ammar...

Ocean Network Express (ONE) and LX Pantos are pleased to announce the successful completion of their joint venture, Boxlinks LLC (Boxlinks). This strategic partnership will leverage the combined strengths of ONE and LX Pantos to provide end-to-end domestic intermodal transportation services, utilising both companies’ partnerships with major rail carriers and trucking companies to provide efficient and timely delivery of cargo in the United States. Customised service Hiroki Tsujii, Globa...

Middle East ceasefire and Lunar New Year will see ocean container freight rates fall further in February - with carriers now taking action to slow the market decline. Latest data from Xeneta – the ocean and air freight intelligence platform – shows average spot rates from the Far East stand at USD 3 795 per FEU (40ft container) into North Europe and USD 5 085 per FEU into the Mediterranean – down 22% and 13% respectively since 1 January. Falling spot rates  Early data s...

The expansion of offshore wind energy is one of the central projects of the energy transition at both German and European levels. In Germany alone, the installed capacity of offshore wind turbines is set to grow to at least 30 GW by 2030 and 70 GW by 2045. In the EU, the target is even greater at 111 GW by 2030 and 317 GW by 2050. These targets make close cooperation between the energy, infrastructure, and transport sectors indispensable. Sustainable value creation In particular, the close li...

Keel Laying of the Seventh Anti-Submarine Warfare ship (ASW SWC) (BY 529, INS Machilipatnam) of the project being built for the Indian Navy was held at Cochin Shipyard Limited by Rear Admiral Upal Kundu, VSM, Chief of Staff, Southern Naval Command on 29 Jan 2025.  Shri Madhu S Nair, Chairman and Managing Director, CSL, Director (Technical) and Director (Operations) of CSL, Executive Directors of CSL, General Manager (Ship Building), Warship Production Superintendent, Kochi, Senior official...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has concluded a contract with the Indonesian Maritime Security Agency (BAKAMLA) for the construction of an offshore patrol vessel (OPV). The vessel will be built at MHI's Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture, with completion and delivery scheduled for March 2028. Ability of maritime rescues This project is based on a grant agreement concluded in March 2024 between the Government...

MAN Energy Solutions has reported that its ME-LGIA (-Liquid Gas Injection Ammonia) engine, currently undergoing testing at its Research Centre Copenhagen (RCC) facility, has run at 100% engine load for the first time. Maritime energy transition Ole Pyndt Hansen, Head of Two-Stroke Research & Development, MAN Energy Solutions, said, “We began full-scale testing in November 2024 and have since proceeded in a cautious and safety-first way. We have now operated the engine on ammonia from...

Maritime shipping bunkered 9.8 million tonnes of fuel in Rotterdam, a moderate decrease from 9.9 million tonnes in 2023. In 2024 the demand for fuel oil, marine gas oil, and other fuels was 0.9 percent lower than in 2023. It was notable that the demand for LNG in 2024 rebounded to previous levels after a decline during the period of inflated gas prices. Totaling 0.94 million m3, the demand for LNG increased by 52 percent compared to 2023, when 0.62 million m3 was bunkered. Bio-blended fuels F...

The World Shipping Council welcomes the balance between sustainability and competitiveness struck in the European Commission’s Competitiveness Compass released that will form the basis for the EU’s Clean Industrial Deal.  WSC, however, called on the Commission to recognise that liner shipping is investing in Europe and urged the Commission to support the sector on its path to decarbonise supply chains, fostering open trade and protecting critical sea lanes...

Kongsberg Maritime is proud to announce its selection as the lead integrator for a significant green upgrade of the Norwegian Coastal Administration's (NCA) hybrid vessel, OV Bøkfjord. The project will include the installation of Kongsberg Maritime's electric Rim-Drive azimuth thrusters, together with an upgrade of hybrid capacity. Pilotage and navigation technology The NCA is a national agency under the Ministry of Trade, Industry, and Fisheries, responsible for coastal mana...

Global law firm Norton Rose Fulbright, working in conjunction with pioneering Spanish law firm Uría Menéndez, has advised Bibby Marine on a financing package with HSBC UK to support the development of its previously announced zero-emission electric Commissioning Service Operation Vessel for servicing offshore wind farms. The multi-million euro financing made available by HSBC UK is backed by Cesce, the Spanish Export Credit Agency. HSBC acted as sole ECA coordinator, mandated lead...

The Maritime Museum of San Diego, an adventurous non-profit dedicated to collecting, preserving, and presenting rich maritime heritage, is pleased to announce the appointment of Dr. Christina Connett Brophy as its new president and CEO, effective immediately. Maritime Museum “I am incredibly grateful and proud to join the wonderful team at the Maritime Museum of San Diego,” said Dr. Connett Brophy. “I am looking forward to an exciting future on the west coast and continuing...

A new design for an ammonia floating production storage and offloading (FPSO) unit that features onboard carbon capture technology for blue ammonia production has received approval in principle (AIP) from ABS. The design comes from MODEC, Inc. (MODEC), in collaboration with Toyo Engineering Corporation (TOYO). ABS completed design reviews based on class and statutory requirements. Emissions of offshore operations It is produced by combining hydrogen, which is derived as a byproduct of carbon...

Technology group Wärtsilä has signed a ten-year Lifecycle Agreement with Spanish ferry operator Baleària. The agreement covers Baleària’s new high-speed aluminium structure catamaran Ro-Pax ferry, the Margarita Salas, which recently entered service.  Margarita Salas The ship was built at the Astilleros Armon Gijon yard in Spain. It operates with four Wärtsilä 31DF dual-fuel engines, four Wärtsilä WXJ hydraulic waterjets, and fea...

The long-term environmental impact of the Sounion vessel disaster, both of the vessel and the Red Sea, were at the forefront of the critical salvage operation, noted Ambipar Response, the emergency response division of Ambipar Group, who led the spill response and pollution prevention effort for the stricken 164,000 dwt tanker (IMO: 9312145) in August 2024. After being struck by multiple missiles from Houthi rebels during a routine transit through the Red Sea, Sounion was left stranded and abla...

The Royal Thai Navy aims to purchase two frigates, with a budget for the fiscal year 2026, which will likely receive parliamentary approval. On January 18, at the National Memorial, Admiral Jirapol Wongwit, Commander-in-Chief of the Royal Thai Navy, provided an update on the progress of procuring two frigates. He stated that the process is currently in the budgeting phase, which exceeds 1 billion baht and requires Cabinet approval before being forwarded to Parliament for consideration. Safegua...

DNV has appointed Cristina Saenz de Santa Maria as Chief Operating Officer, with effect from 1 January 2025.  "The maritime industry is navigating growing complexities, from its operating environment to the expanding network of diverse stakeholders it serves and interacts with,” says Knut Ørbeck-Nilssen, CEO, DNV Maritime. “To address these challenges and seize new opportunities, the addition of a COO strengthens our leadership team, ensuring we are well-positioned to me...