Prime movers News

Watson Farley & Williams ('WFW') is strengthening its Middle East ship finance practice with the relocation of Assets & Structured Finance Partner, Emily Widdrington from London to Dubai as of 1 August 2024. Emily has over 12 years of experience advising and acting for banks and ship owners on loan and security documentation. Her experience ranges from advising on high-value ECA-backed financings to loan agreements involving sustainability-linked margin adjustments. New LNG-powered cru...

ABS awarded approval in principle (AIP) to two new developments from Jiangnan Shipyard: a new insulation system and a modern design for an ultra-large ethane carrier (ULEC). The ULEC design is first equipped with the next-generation BrilliancE® II Type-B cargo containment system, a modern cryogenic liquefied gas containment system designed to optimise ship performance. The second AIP was awarded for Jiangnan’s patented insulation system, PnFCOMBi, which can be used for type B tan...

ClassNK has carried out third-party verification for self-aggregated social data of Mitsui O.S.K. Lines, Ltd. and its group companies, and issued an assurance statement. In an era where proactive corporate actions are required to realise a sustainable society, disclosure of non-financial information, such as environmental data and social data is increasing in importance as a corporate ESG performance indicator. Disclosure of ESG information ClassNK is providing support towards the realisatio...

Maritime UK’s Chair Robin Mortimer and Chief Executive Chris Shirling-Rooke met with the new Maritime Minister, Mike Kane MP and the Department for Transport team at Great Minster House in Westminster. Following the Minister’s recent appointment, the meeting provided an excellent opportunity for Maritime UK to discuss key priorities for the industry and raise the importance of focusing on growth and prosperity throughout the sector and in their coastal communities. Thriving marit...

ClassNK has released ‘Guidelines for Cyber resilience of ships’. The guidelines expound new IACS Unified Requirements (UR) to support the consideration of measures to ensure the cyber security of ships. IACS has established UR E26 for ships and UR E27 for on-board systems and equipment as URs setting minimum requirements for cyber resilience, which is the capability to reduce the occurrence and mitigate the effects of cyber incidents due to cyber-attacks or other threats. The URs ha...

The state-of-the-art 'Olympic Boreas' CSOV has been delivered to Olympic by Ulstein Verft on 25.07.2024. The vessel is the first of two sister vessels, based on the ULSTEIN SX222 design by Ulstein Design & Solutions AS. 'Olympic Boreas' CSOV Olympic Boreas has been designed with the TWIN X-STERN solution and comes with a unique hybrid power integration. Further, she has a large gangway system installed, high-capacity, delicately furnished accommodation, including offices, lounges, day roo...

The International BoatBuilders’ Exhibition and Conference (IBEX), North America’s premier technical trade event for the recreational marine industry, announced its expanded pavilions and trade routes focusing on start-ups, industry education, as well as cutting-edge technologies and processes. Registration is open for 2024's show, set to take place at the Tampa Convention Center, from October 1 - 3, 2024. Start-Up pavilion In partnership with Yachting Ventures, IBEX will introduce...

ABS awarded approval in principle (AIP) to CLS Wind for its innovative wind turbine assembly system.  The patented elevator-style assembly system promises easier, safer and faster wind turbine and nacelle installation and maintenance, without the use of large cranes and heavy-lift barges or vessels. ABS completed design reviews based on class and statutory requirements. “This is an exciting milestone for CLS Wind and domestic renewable energy production. ABS is committed to supportin...

American Bureau of Shipping (ABS) and the United States Coast Guard Research and Development Centre (USCG-RDC) signed a memorandum of understanding (MOU) that opens the door to collaborative research and development on top-of-mind technologies impacting the maritime industry. ABS and the USCG-RDC each have robust portfolios of maritime innovation projects that will benefit from cooperative efforts in areas of mutual interest. Fuels in the maritime domain Activity under the MOU can include dev...

Thordon Bearings’ brake cups are being supplied to Hydro-Québec, the largest hydropower company in Canada, as part of a decade-long turbine brake system overhaul program. The Burlington-based bearing and seal specialist is providing the brake cups to its Canadian distributor RMH Industries, an integrated company specialising in mechanical and hydraulic repair and machining of oversized parts. RMH Industries has been manufacturing and repairing brake blocks for Hydro-Québec s...

Seanergy Maritime, a prominent pure-play Capesize shipowner that is publicly listed in the US and provides marine dry bulk transportation services, has chosen to integrate Orca AI's cutting-edge automated computer-vision situational awareness platform into its operations. AI's advanced technology The project demonstrates Seanergy's commitment to advancing safety and efficiency in maritime navigation. Athens-based Seanergy currently owns a modern fleet of 18 dry bulk vessels Athens-based Sean...

In Rotterdam, the Eco Maestro was christened, the first dual-fuel container vessel to sail on methanol. Rotterdam will be the home port to all fourteen vessels of the Singapore X-Press Feeders. X-press Feeders aims to have these ‘green vessels’ sail mainly on routes in Europe, which means there will be a first network of feeders sailing on green methanol in Europe. The Taiwan container shipping company Evergreen Feeders has signed a contract to that end with the Singapore feeder shi...

Bibby Financial Services (BFS) has bolstered its Marine Finance business with the appointment of an experienced front and back-office team, as it looks to grow its support for the maritime sector. First launching in 2023, BFS Marine Finance provides specialist financing and support to the sector across a wide range of vessel types, including wind farm service vessels, general purpose workboats, passenger vessels and ferries, survey vessels, tugs and barges, coastal ships, charter boats and hire...

Cochin Shipyard Limited (CSL), the premier shipbuilding and repair company in India, delivered the 15th Electric Hybrid 100 Pax Water Metro Ferry BY 126 to Kochi Water Metro. The occasion was marked by the Delivery Protocol Signing ceremony held at CSL, in the presence of Directors of KMRL and CSL, along with senior officials from KMRL, CSL, DNV, and IRS. Shri. Harikrishnan S, Chief General Manager CSL, and Shri. Shaji P. Jananardhanan, Chief General Manager KMRL, signed the protocol document o...

ITOCHU Corporation, ClassNK, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (MPA) have signed a Memorandum of Understanding (MoU) regarding a joint study for the design and safety specifications of ammonia-fuelled ships which are under development by ITOCHU and partners. Ammonia is advancing as a viable marine fuel solution for the decarbonisation of the maritime sector. The discussion for a specification of ammonia-fuelled ship with governmental body related to their op...

A pair of dual fuel (diesel and LNG) RAstar 4200-DF standby vessels have recently entered service with Hongkong Salvage & Towage (HKST). Built by Cheoy Lee Shipyards, LNG Sentinel I and LNG Sentinel II were specifically designed for service at the Hong Kong LNG Terminal Limited (HKLTL) import terminal. Featuring a unique electrical propulsion system with Z-drives that can receive power from both diesel and dual fuel (diesel and LNG) propulsion gensets, these vessels will help maintain a saf...

Norwegian Cruise Line (NCL), the innovator in global cruise travel with a 57-year history of breaking boundaries, announces its 2026 spring/summer itineraries to the Caribbean, Bahamas, Bermuda, Alaska, and Canada and New England, as well as a new season of voyages from the Port of Philadelphia (PhilaPort) for the first time in many years. In April 2026, NCL will launch cruises sailing from the SouthPort Marine Terminal Complex in Philadelphia. On April 16, 2026, Norwegian Jewel® will comme...

Peninsula, the global pioneer in marine energy solutions, is pleased to announce the successful LNG bunkering of the car carrier - Thor Highway by their LNG bunker vessel, Levante LNG.  The supply operation was carried out for their customer - “K” LINE in Gibraltar. Thor Highway The Thor Highway, operated by “K” LINE, is a newly built LNG dual-fueled car carrier chartered by the company and was delivered in 2024. The vessel is part of “K” LINE’s...

VSTEP is pleased to announce the early access release of NAUTIS Instructor Station 2.0! This updated version promises a significantly improved user experience, reduced work time, enhanced ease of use and many other crucial advancements. Less clicks, more teaching! Over the past year, VSTEP has diligently collected and analysed feedback from customers both internally and externally. Through extensive testing, numerous discussions and learning from NAUTIS Home, they have identified key areas for...

Innovative technology developed by Arkitech delivers substantial efficiency improvements to the HVAC (Heating, Ventilation and Air Conditioning) system onboard MSC Magnifica. Leveraging AI and machine learning, the technology analyses data from over 1,500 sensors on the MSC Cruises’ ship, enhancing chiller efficiency by up to 12% and achieving predicted annual savings of 1600MW which is equivalent to removing the 687 cars from European roads. This efficiency is realised without compromis...

OrbitMI announces the launch of its latest Data-as-a-Service (DaaS) offering, tailored specifically for maritime industry players in the dry bulk sector. This new product delivers precise and timely data to support decision-making and boost operational efficiency across the maritime industry. Vessel and Company Particulars The Vessel and Company Particulars product provides comprehensive information on various vessel characteristics, enabling ship owners and operators to leverage up-to-date da...

Olympic Subsea is proud to announce their partnership with Ulstein and Rambøll to carry out the “LCAS - Life Cycle Assessment in Shipbuilding” project. This initiative focuses on developing a maritime-oriented method to evaluate the environmental impact of new vessels throughout their entire life cycle.  In this work, Olympic Subsea is specifically looking at the two new offshore wind service vessels developed by Ulstein Design & Solutions AS, both of which are...

The expansion of the offshore wind market has brought about significant changes in the cable-laying industry. More turbines mean more cables to install, which means a greater need for carousel capacity on the cable-laying vessel.  Average cable length However, the length of the installed cable is dependent not only on the number of turbines, but also on their size. The average cable length per wind farm has grown from 30 km in the 2000s to 80 km in the late 2010s and is projected t...

ClassNK has granted its Innovation Endorsement for Products & Solutions to a Ship IoT Application “i-MITEC” by MIURA CO., LTD. 'i-MITEC' uses a cloud-based environment to provide a range of services, collecting and storing operation data from equipment, such as marine boilers and ballast water management systems that are fitted with communication functionality.  The stored data can be used in combination with analysis by MIURA field engineers to provide suggestions for ef...

X1 Wind, a developer of floating wind technology, has officially opened a new office in Navarra, which will be responsible for designing and implementing electrical, communication, and control systems for floating wind platforms. The new offices will primarily host X1 Wind’s electrical department, which includes five electrical engineers led by Adrián Oliva, Electrical & SCADA Manager. Additionally, the offices will include an industrial engineer from the operations departmen...

The launch of the seventh PPA (Multipurpose Combat Ship) “Domenico Millelire” took place at Fincantieri’s shipyard in Riva Trigoso (Genova) on Saturday 13 July 2024. The ceremony was attended, among others, by Vice Admiral Giuseppe Berutti Bergotto, Deputy Chief of Staff of Italian Navy, and Massimo Scialpi, Deputy Director OCCAR, welcomed for Fincantieri by Dario Deste, General Manager Naval Vessels Division. The godmother of the ceremony was Ms. Franca Millelire, a relative o...

KR held the 19th KR European Committee (KREC) meeting in London, UK, on July 1st. The KREC, established in 2004, includes members from major international maritime organisations and key European KR customers as follows: Oil Companies International Marine Forum (OCIMF) International Association of Independent Tanker Owners (INTERTANKO) International Chamber of Shipping (ICS) Baltic and International Maritime Council (BIMCO) International Association of Dry Cargo Shipowners (INTERCARGO) In...

Watson Farley & Williams advised ABN AMRO BANK N.V. and ING BANK N.V. on a US$245m term loan facility granted to Tsakos Energy Navigation Limited for the financing of a fleet of tanker vessels. WFW acted as lead counsel on the transaction and assisted ABN and ING throughout the life cycle of the transaction, from the negotiation and execution of the facility to the delivery of each vessel. Transportation services TEN is a world-pioneering tanker operator, listed on the New York...

Babcock and the Polish Naval Academy in Gdynia, Poland, have announced that they are set to collaborate on an exciting new programme of professional internships following the signing of a Memorandum of Understanding (MoU) and Cooperation Agreement. The MoU outlines the intent for Babcock to work in cooperation with the Polish Naval Academy to facilitate future academic collaboration, underpinning Babcock’s global commitment to skills development. Future academic collaboration This summe...

Seatrium announced that it has awarded the American Bureau of Shipping (ABS) a Classification contract for the newbuild floating production storage and offloading vessels (FPSO) platforms P-84 and P-85 with the final delivery expected in 2029. These are the first FPSOs to be awarded following ABS and Seatrium’s Technology Collaboration Agreement (TCA), which aims to promote increased decarbonisation, digitalisation and innovation in the offshore industry. Efficient power generation Both...