Finance
Following an application for summary judgment, the Commercial Court has provided useful guidance on the interaction between the Hague Rules time bar and contractual time bars where the Hague Rules were incorporated by a clause paramount, rather than applying by force of law. Emirates Shipping Line FZE ('The Defendant') sought to argue that the claim by cargo interests became time-barred as a result of contractual provisions providing for a 20 day time bar and a clause that required the claim fo...
Fuels of the future and shipping charge points in harbours are at the centre of a major new strategy to make Britain’s shipping fleet net zero by 2050 and drive growth in coastal communities. The Maritime Minister has revealed the Government’s new goals for all vessels that operate in UK waters and dock at UK ports to be carbon-free and help vessel owners, operators and scientists make emission-free voyages a reality. Maritime Decarbonisation Strategy Maritime Decarbonisation Stra...
Fincantieri, one of the world's pioneer groups in high-complexity shipbuilding, and the Guardia di Finanza signed a Memorandum of Understanding aimed at strengthening cooperation to prevent and fight criminal infiltrations and irregularities in the economic and production sectors. The agreement establishes a joint effort to protect legality, with a focus on preventing and combating economic and financial crimes, fraud, corruption, and illegal labor practices. Enhancing transparency and securit...
IRClass Academy has successfully concluded an intensive Marine Casualty Investigation Training program aimed to enhance the investigative capabilities of maritime professionals, equipping them with the knowledge and skills required to conduct thorough and compliant marine casualty investigations. The program provided an in-depth understanding of the purpose, scope, and principal definitions of marine casualty investigations, along with the mandatory responsibilities of safety investigation auth...
Ammonia is gaining traction as a future fuel in the maritime industry, primarily due to its potential to significantly reduce greenhouse gas emissions. A key driver for ammonia's interest is that it can be carbon-free when combusted, which aligns with the maritime industry's increasing pressure to meet emissions regulations. However, most ammonia production currently relies on fossil fuels. Transitioning to "green ammonia" production is crucial for sustainability. If "green ammonia" is produced...
Watson Farley & Williams (“WFW”) advised BPER Banca S.p.A. (“BPER”), as agent and financing bank, and Banca Popolare di Sondrio S.p.A. (“BPOS”), as financing bank, on an up to US$50m financing granted to Ignazio Messina & C. S.p.A. (“Ignazio Messina”). This allows Ignazio Messina to finance the renewal of its fleet as part of an investment plan to build full container vessels of greater capacity and size than those it previously deployed....
News
In recent months, several oil majors have begun to turn away from renewables to refocus on fossil fuels. This will likely lead them to increase their capital budgets for developing deep-sea oil and gas reserves, requiring a balance of new (large-scale) floating production units and commercial vessels to transport products. In this article, they look at the differences between the terms on which commercial vessels are designed, constructed and delivered and those for projects for offshore floating assets, such as floating production storage and offloading units (“FPSOs”) or floating liquefied natural gas units (“FLNGs”). The shipbuilding contract Similar arrangements (and terms) to those of a shipbuilding contract are used to build offshore units For a commercial vessel, the contract for its construction (a “shipbuilding contract”) is between the shipyard (as “builder”) and client (as “buyer”) – often through a special purpose company incorporated by its parent (as beneficial shipowner) to hold title in the vessel following delivery. The principal terms of a shipbuilding contract are reasonably well understood – there are even standard forms such as those produced by the Shipbuilders’ Association of Japan (SAJ Form) or Association of Western European Shipbuilders (AWES Form) – though parties can negotiate whatever terms they see fit. Similar arrangements (and terms) to those of a shipbuilding contract are also used to build certain offshore units such as drilling rigs, offshore supply vessels (OSVs) and accommodation units. However, a project for the construction of a large-scale floating asset, such as a FPSO or FLNG, requires quite different terms to a shipbuilding contract. The EPCIC contract In FPSO or FLNG construction projects, the seller (as “contractor”) is not a shipyard but a large offshore contractor with the skill and expertise to take full responsibility for the engineering, procurement, construction, installation and commissioning (EPCIC) of the relevant unit under the terms of a bespoke contract (an “EPCIC contract”). The buyer will not be an affiliate of a shipowner but likely an affiliate of a national or international oil company (as “company”) purchasing the asset for deployment and utilisation on a particular oil or gas field. Mooring system and topside modules The contractor contracts directly with a shipyard to integrate topsides, mooring system For a large-scale EPCIC project, the contractor will sub-contract much of the work and co-ordinate and manage the various work streams with sub-contractors up to project completion. Notably, the contractor is likely to sub-contract construction of the unit’s hull and manufacturing of the topside production modules and mooring system to separate sub-contractors. It is thus relatively common for the hull to be built at a separate yard and jurisdiction from the mooring system and topside modules, requiring transportation (to a different jurisdiction) for integration. Whilst maintaining full responsibility, the contractor contracts directly with a shipyard to integrate topsides, mooring system and all other materials into the hull before delivering a fully installed and commissioned unit to the company. Contract price One of the key commercial differences between building a standardised commercial vessel (such as an LNG carrier) and an FPSO or FLNG is price. In the current market, a newbuild LNG carrier’s contract price is roughly US$280m. However, an FPSO’s (not including any sub-sea architecture such as risers and umbilicals) can exceed US$5bn. The sheer difference in value of such assets has a direct effect on how the relevant construction contracts of each class of asset are structured. Refund guarantee In shipbuilding contracts, it is standard practice for the buyer to pay the builder a significant portion of the contract price (commonly 50%-70%) in advance of the vessel’s delivery. This ensures the builder has less exposure to the buyer in the event of the latter’s payment default and helps finance its own related construction costs. Case for an FPSO or FLNG unit The buyer will want to confirm that if it has the right to remove the shipbuilding warrant The buyer will want to ensure that if it has the right to terminate the shipbuilding contract prior to delivery for breach by the builder (and subsequently exercises such right), the builder will repay any contract price instalments the buyer has paid in advance. This will necessitate the provision by the builder of a refund guarantee pursuant to which an independent third party (usually a bank incorporated within the same jurisdiction) will guarantee its obligations to repay any such advance instalments. Even given the figures referred to above in respect of a technologically advanced asset such as an LNG carrier, the actual amounts guaranteed under a refund guarantee are usually manageable by commercial banks. This is not the case for an FPSO or FLNG unit, where it is simply not commercially viable for a contractor to obtain a refund guarantee in an amount equivalent to even 50% of the contract price. Transfer of title In most shipbuilding contracts, the title in the relevant vessel/unit remains with the builder until it is built. Upon delivery under the shipbuilding contract (and simultaneously with payment of the amount of the contract price due on delivery), title in the vessel passes to the buyer. The refund guarantor’s (being the bank issuing the refund guarantee) obligations then automatically expire as, upon delivery, the buyer has no lingering right to terminate the shipbuilding contract and demand a refund of any instalments paid in advance. In EPCIC contracts, where it is not generally possible for the contractor to procure a refund guarantee to secure the refund of any pre-delivery instalments, the title in the asset is transferred from contractor to company progressively during the construction process. Progressive transfer Contractor still requires the company to pay some of the contract price in advance of the unit’s delivery Under an EPCIC contract, the contractor still requires the company to pay some of the contract price in advance of the unit’s delivery. Generally, the advance payments the company must pay will reflect a proportion of the value of works completed (against which title will be transferred). To differentiate an EPCIC contract from a shipbuilding contract for the purposes of the Sale of Goods Act (under which the latter is recognised as being a contract for the sale of goods where title does not pass until completion), the former must include clear and precise terms regarding what property is being transferred (on a progressive basis) by contractor to company and when. EPCIC contract An EPCIC contract may include a provision that title to materials constituting work pass to the company upon the earlier of (i) identification of such materials to the extent they apply to the work and (ii) the relevant payment being made by the company. For larger, more valuable items (e.g., hull and topside modules), express provision should be included as to where and when the title in them is intended to pass. To the extent necessary, an agreed mechanism for the transfer of title in such items should be agreed within the EPCIC contract, with any registration requirements giving legal effect to such transfer also incorporated. It is essential for parties to have clarity as to who has title in materials at any given point during the construction process. Whilst a mechanism for a progressive transfer in title is the only feasible option to address the aforementioned issues regarding the construction of an asset of the value of an FPSO or FLNG, it provides its own challenges. Underlying challenges Even if title can be transferred to the company on a progressive basis during construction If a contractor raises its own funds to cover a unit’s construction costs, it may be obliged to grant security over the relevant materials to its financiers, making it unable to pass legal title on to the company. Even if title can be transferred to the company on a progressive basis during construction, it is possible such transfer may give rise to an unfavourable tax position due to the application of a sales tax that would otherwise have qualified for an export exemption had title remained with the contractor (or its subcontractor). Ship’s mortgage Where title in certain materials cannot be transferred during construction, whether because the contractor’s financing arrangements prohibit it or there is a commercial element (such as a tax cost) preventing parties from agreeing to such a transfer, the contractor may have to grant a security interest over such materials in the company’s favour. Such security may take the form of a ship’s mortgage over the hull, chattel mortgage over the topside modules and/or assignment of contractor’s rights (together with a full step-in right for the company) under certain key sub-contracts. Main purpose for the contractor The main purpose for the contractor is to obtain a progressive transfer of title in such materials As EPCIC contracts are carefully negotiated to address all elements of the work required to ensure the relevant unit can operate as required at its designated site, the value of the materials if they were to be sold independently of the project (should the company terminate the contract) is likely to be significantly less than the actual cost the company paid the contractor for them as part of the contract price. Therefore, the main purpose for the contractor in obtaining a progressive transfer of title in such materials (or security interest over them) is not so the company can re-sell them to recover the amount of any advance payments already paid should it terminate the contract, but to allow it to obtain possession of them to “take-over” the project on termination. Obligations under the EPCIC contract Up to the point of termination, the contractor (or sub-contractor) will likely have possession of the materials as it will have needed them to perform its obligations under the EPCIC contract (i.e., complete and deliver the unit). Therefore, notwithstanding that title will have passed and/or security over such material granted, the company still needs physical possession of the materials to maintain the project. This requires it to enforce its rights in the various jurisdictions where these are located. Local law advice should be sought not only when the EPCIC contract is being negotiated to ensure suitable provisions are included for the registration of title and/or granting of security, but also before any action is taken by company to enforce such rights. Passing of risk Under a shipbuilding contract, risk in the vessel passes simultaneously with the title Transfer of title and of risk are two separate concepts. Under a shipbuilding contract, risk in the vessel passes simultaneously with title. Under an EPCIC contract, the company generally requires the contractor bear the risk of loss and damage of the unit up until the time works have been completed – and insure such risk accordingly. Leasing arrangements Where a buyer purchases a vessel under a shipbuilding contract, it will usually look to recover capital expenditure via the vessel’s employment, whether through charter hire or freight. In an EPCIC contract, the contractor builds the asset for the company (similar to builder and buyer under a shipbuilding contract), with the latter paying the former the contract price and incurring the unit’s capital cost. Ultimately, it is the company (on its and any co-venturers behalf) that will look to recover capital expenditure through the income received from its utilisation of the unit. Given the contractor’s intimate knowledge of the unit, the company may contract with it to operate and maintain the unit on its (and its co-venturers’) behalf following delivery against the payment of a service fee. Installation and commissioning of the unit FPSOs and FLNGs can also be leased or chartered by the contractor to the company Units such as FPSOs and FLNGs can also be leased or chartered by the contractor to the company (with the former retaining title in the unit). Under a leasing arrangement, the contractor remains responsible for the engineering, procurement, construction, installation and commissioning of the unit – as well as its operation and maintenance whilst deployed at the designated field. The contractor will have incurred the capital cost of the unit’s construction – which it will wish to recover from the company as part of the daily hire payable under the lease. EPCIC project for a floating offshore unit There will always be complex issues to examine when considering the most appropriate structure to build and operate an FPSO or FLNG unit – i.e., whether the company should lease or directly own it. Unfortunately, unlike a shipbuilding contract where any one of a number of standard industry forms can be used, due to the specific nature of a large-scale EPCIC project for a floating offshore unit and the multi-jurisdictional issues that can arise, there is (as yet) no one size (or contractual form) of EPCIC contract to fit all. There is clearly an element of risk in these projects (given their sheer capital cost) that cannot be removed solely by negotiating contractual terms alone. Therefore, sector players are inevitably large credit-worthy companies with balance sheets to match their obligations and successfully complete these projects.
MacGregor, part of Cargotec, has won the GREEN4SEA Sustainability Award 2025, in recognition of the contribution its digital Carbon Calculator tool makes to maritime decarbonisation. Available free of charge on the MacGregor website, Carbon Calculator allows container shipping companies to estimate the carbon dioxide emissions. They can eliminate from their operations by upgrading their onboard container cargo system. Sustainable cargo operations Maximising cargo-carrying capacity increases revenue potential with cut fuel consumptionMaximising cargo-carrying capacity makes it possible to not only increase revenue potential but also cut fuel consumption per cargo tonnage carried, thereby minimising costs, CO2 emissions, and Emissions Trading Scheme (ETS) payments. With the MacGregor Carbon Calculator, owners can assess cargo system upgrade options based on operational data and scenario-based insights, supporting informed decisions that drive both sustainability and commercial success. Honoring green innovation Accepting the Sustainability Award in a ceremony at the 14th GREEN4SEA Athens Forum on 12 March, Atte Virta, Naval Architect, Sales & Marketing, Customer Innovations, MacGregor, said: “There are countless actions that can be taken to improve cargo utilisation and reduce emissions per container carried. Establishing priorities will be based on an evaluation of impact and cost effectiveness.” Smart carbon calculations “MacGregor’s Carbon Calculator is a tool to tackle this challenge. The calculator provides quick, reliable estimates of the benefits of an upgrade. It shows the expected percentage reduction in CO2 emissions per twenty-foot container” “Savings in fuel costs and ETS payments in dollars per twenty-foot container, as well as potential added revenue.” says Magnus Sjöberg, Senior Vice President, Equipment and Solutions Division, MacGregor. Smarter emissions decisions This gives shipping companies a clear view of the environmental and financial benefits of upgrading, helping them see the real impact on their path to decarbonisation. MacGregor Carbon Calculator is a commitment to a sustainable future for our planet. Used to reveal opportunities for maritime decarbonisation that might otherwise remain hidden. Driving emission reductions Carbon Calculator is already trusted by some of the world’s top 10 container shipping companies as a first-step verification tool in their emissions-reduction journeys.
Nexans is a pioneer in the design and manufacturing of cables systems and services, specialising in the offshore wind market and subsea interconnectors. To secure Nexans’ cable deliveries to transmission system operator TenneT's North Sea projects, Eksfin in collaboration with Societe Generale provides a EUR 290 million performance guarantee. Nexans’ legal entity in Norway To support the delivery of subsea power cables for Germany’s renewable energy expansion, Export Finance Norway (Eksfin) worked with Societe Generale to provide a performance guarantee to Nexans. The guarantee is issued through Nexans’ legal entity in Norway. The total guarantee amount is EUR 290 million, shared equally between Eksfin and Paris-based bank Societe Generale, meaning each covers up to EUR 145 million. Offshore wind parks Nexans will deliver and install subsea power cables that will transport energy from offshore wind parks The guarantee supports a framework agreement signed in May 2023 between TenneT and Nexans, valued at an initial EUR 1.7 billion. Under this agreement, Nexans will deliver and install subsea power cables that will transport energy from offshore wind parks in the North Sea to the German market via the grid projects BalWin3, LanWin 4 and LanWin 2. Key stakeholder statements "Winning contracts on this scale depends on our ability to source appropriate bank guarantees. As an export-oriented company, having Eksfin’s large risk capacity on our side is a strong competitive advantage," said Lars Christian Eriksen, CEO of Nexans Norway. Eksfin Managing Director Ms. Tone Lunde Bakker added: "Supporting Norwegian suppliers to international offshore wind projects is a key strategic priority for Eksfin. It is our mission to help more Norwegian exporters win contracts to renewable energy projects globally. I am delighted that together with Nexans, we have succeeded in securing yet another large export contract for the Norwegian wind industry in this important market.” Societe Generale's Head of Trade Services, Marie-Laure Gastellu, commented: "Our collaboration with Eksfin has helped to come up with this solution to support Nexans’ projects. This transaction illustrates the bank’s capacity to develop complex and tailored solutions for our clients in strategic sectors such as the offshore wind energy.”
Global law firm Norton Rose Fulbright has advised BNP Paribas, a syndicate of lenders, SACE and SIMEST on the financing of four new cruise vessels for Viking Ocean Cruises. The financing consists of four export credit loan facilities, which are together worth around $2 billion. The facilities are backed by the Italian export credit agency SACE and contain a fixed-rate subsidy offered by SIMEST. Viking Ocean Cruise’s growing fleet The ocean-going passenger cruise vessels are being constructed at Fincantieri S.p.A The ocean-going passenger cruise vessels are being constructed at Fincantieri S.p.A. and are the 17th to 20th ocean cruise vessels to be built for Viking. Norton Rose Fulbright has advised the lenders, SACE and SIMEST, on fourteen of these financings. Partner Simon Hartley, who led the Norton Rose Fulbright team working on the transaction, said: “This is the third such deal that we have worked on for our clients, involving the financing of new vessels in Viking Ocean Cruise’s growing fleet." SACE export credit arrangements Hartley added: "This latest transaction, which is the first for Viking since it went public last year, demonstrates the ongoing high confidence in the passenger cruise sector that we are seeing across all sub-sectors, including the luxury segment in which Viking operates.” Simon Hartley was supported by counsel Matthew Bambury and associate Jennifer Carr in the firm’s London office. Arturo Sferruzza, a partner in the firm’s Milan office, advised on Italian law aspects relating to the SACE export credit arrangements. Range of legal services Norton Rose Fulbright’s shipping team offers the full range of legal services Norton Rose Fulbright’s shipping team offers the full range of legal services needed by shipping companies. The team is particularly well known for their cruise sector expertise, acting for some of the largest, most renowned industry participants on both the operator and lender side. World Class cruise vessels for MSC Cruises The team recently advised lenders on the financing of two Orient Express cruise ships, an ECA-backed financing of Royal Caribbean’s latest “Oasis Class” vessel “Utopia of the Seas” and an ECA-backed financing for two new LNG-powered ‘World Class’ cruise vessels for MSC Cruises. The firm’s is globally recognised for having pioneering Shipping and Ship Finance practices. Simon Hartley is named as a Band 1 practitioner for shipping finance in Chambers Global 2025 and as a pioneering Partner for Transport Finance and Leasing in the Legal 500, with Matthew Bambury listed as a pioneering Associate/Rising Star in the same category.
Watson Farley & Williams (“WFW”) advised a syndicate of lenders led by BNP Paribas (“BNPP”), SACE SpA and SIMEST SpA on the financing and delivery of the cruise vessel Norwegian Aqua, owned by Norwegian Cruise Line Holdings Ltd. group (“NCLH”) and built at Fincantieri’s Marghera shipyard in Italy. Norwegian Aqua is the third of NCLH’s Prima-class vessels and, at approximately 156,000 gt, is the largest vessel to be built at the Marghera shipyard. It can accommodate approximately 3,550 passengers and offers travellers a 10% increase in size and capacity to its guests compared to its sister vessels. Comparable cruise lines Norwegian Aqua's design reflects Norwegian Cruise Line's commitment to sustainability and innovation for a responsible cruise experience. First, it is designed to be spacious, offering up to 36% more space per guest than comparable cruise lines. It also stands out as one of the most visually striking ships ever constructed with the design of the hull artwork signed from artist Allison Hueman. As part of its numerous advanced technological features, Norwegian Aqua debuts the Aqua Slidecoaster, the world’s first hybrid roller coaster and water slide at sea using a magnetic lift system to launch guests through twists and turns. Its Glow Court is a first-of-its-kind interactive space that transforms a high-tech LED sport arena by day into a nightclub. Responsible cruise experience The NCLH group expects to add 12 additional ships across its three brands through 2036 NCLH is a global cruise company which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. With a combined fleet of 33 ships and approximately 70,000 berths, they offer itineraries to approximately 700 destinations worldwide. The NCLH group expects to add 12 additional ships across its three brands through 2036, which will add approximately 37,000 berths to its fleet. The cross-border WFW Finance team that advised the lenders was led by Paris Partner Alexia Russell, supported by London Associate Parit Patani, Paris Associate Panagiotis Pantos and Trainee Solicitor Emma Devenish. Alexia commented: “We are delighted to have assisted BNPP and the lenders on another successful delivery for NCLH, having most recently advised the syndicate of lenders on the deliveries of Seven Seas Grandeur and Vista in 2023. We wish both the vessel and NCLH all the best as it enters into service.”
HarborLab, the Athens-based maritime technology company, has launched a new AI-powered feature designed to optimise Disbursement Account (DA) analysis and streamline port expense management. This latest innovation, known as HL AI, is part of the company’s drive to fully integrating artificial intelligence (AI) into its entire platform ecosystem helping shipowners and operators unlock efficiency and major cost savings in daily vessel operations. Advanced digitalisation systems HarborLab, which raised more than $16 million in Series A funding in 2024, restarts to develop solutions HarborLab, which raised more than $16 million in Series A funding in 2024, continues to develop solutions and to expand its presence as more maritime companies look for advanced digitalisation systems to enhance operational efficiencies. With annual port-related spending for ship owners and operators being currently roughly $2 million per year for a single vessel on voyage charter, ship owners that operate a fleet of over 100 vessels, the financial risks of relinquishing DA approvals of up to $200 million annually to third parties or solely managing a traditionally cumbersome process in-house are too high. Latest AI-powered feature HarborLab’s solutions and its latest AI-powered feature are designed to empower their teams with greater control, real-time insights, and technology automation, enabling them to make faster, more confident operational and financial decisions. With the launch of HL AI, DA verification and approval workflows is enhanced by offering the ability to operators to see and understand how each port expense charged in a DA is calculated in greater detail, backed by HarborLab’s algorithmic insights and access to real-time port tariff data. HarborLab’s AI Agent HL AI can instantly translate all tariff documents to eliminate potential language barriers In addition, HL AI can instantly translate all tariff documents to eliminate potential language barriers, making it easier to understand official port information in English. HL AI can also automatically generate AI-powered email responses for expense discrepancies to accelerate negotiations. Moreover, HarborLab’s AI Agent is continuously learning and evolving as users adapt to the platform to ensure the system’s level of accuracy remains at the forefront of the wider HarborLab system. DA review capacity “More than $130 billion is spent globally across the industry every year on port expenses, yet many shipping companies still struggle with a traditionally opaque and time-consuming process of port cost management." "With HL AI we are eliminating inefficiencies and tripling the DA review capacity of industry players, ultimately giving them greater control over their financial operations,” said Antonis Malaxianakis, Chief Executive Officer and Founder of HarborLab. Latest step in the autonomous DA management process HarborLab is steadily growing into a broad end-to-end port call management platform “Crucially, HL AI is the latest step in our goal towards a fully autonomous DA management process by showcasing the power of AI in the world of commercial shipping." "At present, a single HarborLab user can oversee more than 1,000 port calls per year so this latest move will enable our users to be much more efficient when it comes to DA verification and handling,” he added. Operations for the entire maritime ecosystem Beyond port cost optimisation, HarborLab is steadily growing into a comprehensive end-to-end port call management platform. From accurate cost management and instant access to port insights to standardising event reporting for seamless laytime and demurrage calculations, and streamlining payments, claims, and cost validation with effortless scalability, HarborLab is moving closer to becoming the ultimate one-stop platform for port call management — delivering smarter, seamless, and more transparent operations for the entire maritime ecosystem. HarborLab representatives will be present at this year’s Singapore Maritime Week from 24-28 March to showcase the power and benefits of HL AI, alongside its range of award-winning software for principals, vendors and agents.
In recent months, several oil majors have begun to turn away from renewables to refocus on fossil fuels. This will likely lead them to increase their capital budgets for developing deep-sea oil and gas reserves, requiring a balance of new (large-scale) floating production units and commercial vessels to transport products. In this article, they look at the differences between the terms on which commercial vessels are designed, constructed and delivered and those for projects for offshore floating assets, such as floating production storage and offloading units (“FPSOs”) or floating liquefied natural gas units (“FLNGs”). The shipbuilding contract Similar arrangements (and terms) to those of a shipbuilding contract are used to build offshore units For a commercial vessel, the contract for its construction (a “shipbuilding contract”) is between the shipyard (as “builder”) and client (as “buyer”) – often through a special purpose company incorporated by its parent (as beneficial shipowner) to hold title in the vessel following delivery. The principal terms of a shipbuilding contract are reasonably well understood – there are even standard forms such as those produced by the Shipbuilders’ Association of Japan (SAJ Form) or Association of Western European Shipbuilders (AWES Form) – though parties can negotiate whatever terms they see fit. Similar arrangements (and terms) to those of a shipbuilding contract are also used to build certain offshore units such as drilling rigs, offshore supply vessels (OSVs) and accommodation units. However, a project for the construction of a large-scale floating asset, such as a FPSO or FLNG, requires quite different terms to a shipbuilding contract. The EPCIC contract In FPSO or FLNG construction projects, the seller (as “contractor”) is not a shipyard but a large offshore contractor with the skill and expertise to take full responsibility for the engineering, procurement, construction, installation and commissioning (EPCIC) of the relevant unit under the terms of a bespoke contract (an “EPCIC contract”). The buyer will not be an affiliate of a shipowner but likely an affiliate of a national or international oil company (as “company”) purchasing the asset for deployment and utilisation on a particular oil or gas field. Mooring system and topside modules The contractor contracts directly with a shipyard to integrate topsides, mooring system For a large-scale EPCIC project, the contractor will sub-contract much of the work and co-ordinate and manage the various work streams with sub-contractors up to project completion. Notably, the contractor is likely to sub-contract construction of the unit’s hull and manufacturing of the topside production modules and mooring system to separate sub-contractors. It is thus relatively common for the hull to be built at a separate yard and jurisdiction from the mooring system and topside modules, requiring transportation (to a different jurisdiction) for integration. Whilst maintaining full responsibility, the contractor contracts directly with a shipyard to integrate topsides, mooring system and all other materials into the hull before delivering a fully installed and commissioned unit to the company. Contract price One of the key commercial differences between building a standardised commercial vessel (such as an LNG carrier) and an FPSO or FLNG is price. In the current market, a newbuild LNG carrier’s contract price is roughly US$280m. However, an FPSO’s (not including any sub-sea architecture such as risers and umbilicals) can exceed US$5bn. The sheer difference in value of such assets has a direct effect on how the relevant construction contracts of each class of asset are structured. Refund guarantee In shipbuilding contracts, it is standard practice for the buyer to pay the builder a significant portion of the contract price (commonly 50%-70%) in advance of the vessel’s delivery. This ensures the builder has less exposure to the buyer in the event of the latter’s payment default and helps finance its own related construction costs. Case for an FPSO or FLNG unit The buyer will want to confirm that if it has the right to remove the shipbuilding warrant The buyer will want to ensure that if it has the right to terminate the shipbuilding contract prior to delivery for breach by the builder (and subsequently exercises such right), the builder will repay any contract price instalments the buyer has paid in advance. This will necessitate the provision by the builder of a refund guarantee pursuant to which an independent third party (usually a bank incorporated within the same jurisdiction) will guarantee its obligations to repay any such advance instalments. Even given the figures referred to above in respect of a technologically advanced asset such as an LNG carrier, the actual amounts guaranteed under a refund guarantee are usually manageable by commercial banks. This is not the case for an FPSO or FLNG unit, where it is simply not commercially viable for a contractor to obtain a refund guarantee in an amount equivalent to even 50% of the contract price. Transfer of title In most shipbuilding contracts, the title in the relevant vessel/unit remains with the builder until it is built. Upon delivery under the shipbuilding contract (and simultaneously with payment of the amount of the contract price due on delivery), title in the vessel passes to the buyer. The refund guarantor’s (being the bank issuing the refund guarantee) obligations then automatically expire as, upon delivery, the buyer has no lingering right to terminate the shipbuilding contract and demand a refund of any instalments paid in advance. In EPCIC contracts, where it is not generally possible for the contractor to procure a refund guarantee to secure the refund of any pre-delivery instalments, the title in the asset is transferred from contractor to company progressively during the construction process. Progressive transfer Contractor still requires the company to pay some of the contract price in advance of the unit’s delivery Under an EPCIC contract, the contractor still requires the company to pay some of the contract price in advance of the unit’s delivery. Generally, the advance payments the company must pay will reflect a proportion of the value of works completed (against which title will be transferred). To differentiate an EPCIC contract from a shipbuilding contract for the purposes of the Sale of Goods Act (under which the latter is recognised as being a contract for the sale of goods where title does not pass until completion), the former must include clear and precise terms regarding what property is being transferred (on a progressive basis) by contractor to company and when. EPCIC contract An EPCIC contract may include a provision that title to materials constituting work pass to the company upon the earlier of (i) identification of such materials to the extent they apply to the work and (ii) the relevant payment being made by the company. For larger, more valuable items (e.g., hull and topside modules), express provision should be included as to where and when the title in them is intended to pass. To the extent necessary, an agreed mechanism for the transfer of title in such items should be agreed within the EPCIC contract, with any registration requirements giving legal effect to such transfer also incorporated. It is essential for parties to have clarity as to who has title in materials at any given point during the construction process. Whilst a mechanism for a progressive transfer in title is the only feasible option to address the aforementioned issues regarding the construction of an asset of the value of an FPSO or FLNG, it provides its own challenges. Underlying challenges Even if title can be transferred to the company on a progressive basis during construction If a contractor raises its own funds to cover a unit’s construction costs, it may be obliged to grant security over the relevant materials to its financiers, making it unable to pass legal title on to the company. Even if title can be transferred to the company on a progressive basis during construction, it is possible such transfer may give rise to an unfavourable tax position due to the application of a sales tax that would otherwise have qualified for an export exemption had title remained with the contractor (or its subcontractor). Ship’s mortgage Where title in certain materials cannot be transferred during construction, whether because the contractor’s financing arrangements prohibit it or there is a commercial element (such as a tax cost) preventing parties from agreeing to such a transfer, the contractor may have to grant a security interest over such materials in the company’s favour. Such security may take the form of a ship’s mortgage over the hull, chattel mortgage over the topside modules and/or assignment of contractor’s rights (together with a full step-in right for the company) under certain key sub-contracts. Main purpose for the contractor The main purpose for the contractor is to obtain a progressive transfer of title in such materials As EPCIC contracts are carefully negotiated to address all elements of the work required to ensure the relevant unit can operate as required at its designated site, the value of the materials if they were to be sold independently of the project (should the company terminate the contract) is likely to be significantly less than the actual cost the company paid the contractor for them as part of the contract price. Therefore, the main purpose for the contractor in obtaining a progressive transfer of title in such materials (or security interest over them) is not so the company can re-sell them to recover the amount of any advance payments already paid should it terminate the contract, but to allow it to obtain possession of them to “take-over” the project on termination. Obligations under the EPCIC contract Up to the point of termination, the contractor (or sub-contractor) will likely have possession of the materials as it will have needed them to perform its obligations under the EPCIC contract (i.e., complete and deliver the unit). Therefore, notwithstanding that title will have passed and/or security over such material granted, the company still needs physical possession of the materials to maintain the project. This requires it to enforce its rights in the various jurisdictions where these are located. Local law advice should be sought not only when the EPCIC contract is being negotiated to ensure suitable provisions are included for the registration of title and/or granting of security, but also before any action is taken by company to enforce such rights. Passing of risk Under a shipbuilding contract, risk in the vessel passes simultaneously with the title Transfer of title and of risk are two separate concepts. Under a shipbuilding contract, risk in the vessel passes simultaneously with title. Under an EPCIC contract, the company generally requires the contractor bear the risk of loss and damage of the unit up until the time works have been completed – and insure such risk accordingly. Leasing arrangements Where a buyer purchases a vessel under a shipbuilding contract, it will usually look to recover capital expenditure via the vessel’s employment, whether through charter hire or freight. In an EPCIC contract, the contractor builds the asset for the company (similar to builder and buyer under a shipbuilding contract), with the latter paying the former the contract price and incurring the unit’s capital cost. Ultimately, it is the company (on its and any co-venturers behalf) that will look to recover capital expenditure through the income received from its utilisation of the unit. Given the contractor’s intimate knowledge of the unit, the company may contract with it to operate and maintain the unit on its (and its co-venturers’) behalf following delivery against the payment of a service fee. Installation and commissioning of the unit FPSOs and FLNGs can also be leased or chartered by the contractor to the company Units such as FPSOs and FLNGs can also be leased or chartered by the contractor to the company (with the former retaining title in the unit). Under a leasing arrangement, the contractor remains responsible for the engineering, procurement, construction, installation and commissioning of the unit – as well as its operation and maintenance whilst deployed at the designated field. The contractor will have incurred the capital cost of the unit’s construction – which it will wish to recover from the company as part of the daily hire payable under the lease. EPCIC project for a floating offshore unit There will always be complex issues to examine when considering the most appropriate structure to build and operate an FPSO or FLNG unit – i.e., whether the company should lease or directly own it. Unfortunately, unlike a shipbuilding contract where any one of a number of standard industry forms can be used, due to the specific nature of a large-scale EPCIC project for a floating offshore unit and the multi-jurisdictional issues that can arise, there is (as yet) no one size (or contractual form) of EPCIC contract to fit all. There is clearly an element of risk in these projects (given their sheer capital cost) that cannot be removed solely by negotiating contractual terms alone. Therefore, sector players are inevitably large credit-worthy companies with balance sheets to match their obligations and successfully complete these projects.
MacGregor, part of Cargotec, has won the GREEN4SEA Sustainability Award 2025, in recognition of the contribution its digital Carbon Calculator tool makes to maritime decarbonisation. Available free of charge on the MacGregor website, Carbon Calculator allows container shipping companies to estimate the carbon dioxide emissions. They can eliminate from their operations by upgrading their onboard container cargo system. Sustainable cargo operations Maximising cargo-carrying capacity increases revenue potential with cut fuel consumptionMaximising cargo-carrying capacity makes it possible to not only increase revenue potential but also cut fuel consumption per cargo tonnage carried, thereby minimising costs, CO2 emissions, and Emissions Trading Scheme (ETS) payments. With the MacGregor Carbon Calculator, owners can assess cargo system upgrade options based on operational data and scenario-based insights, supporting informed decisions that drive both sustainability and commercial success. Honoring green innovation Accepting the Sustainability Award in a ceremony at the 14th GREEN4SEA Athens Forum on 12 March, Atte Virta, Naval Architect, Sales & Marketing, Customer Innovations, MacGregor, said: “There are countless actions that can be taken to improve cargo utilisation and reduce emissions per container carried. Establishing priorities will be based on an evaluation of impact and cost effectiveness.” Smart carbon calculations “MacGregor’s Carbon Calculator is a tool to tackle this challenge. The calculator provides quick, reliable estimates of the benefits of an upgrade. It shows the expected percentage reduction in CO2 emissions per twenty-foot container” “Savings in fuel costs and ETS payments in dollars per twenty-foot container, as well as potential added revenue.” says Magnus Sjöberg, Senior Vice President, Equipment and Solutions Division, MacGregor. Smarter emissions decisions This gives shipping companies a clear view of the environmental and financial benefits of upgrading, helping them see the real impact on their path to decarbonisation. MacGregor Carbon Calculator is a commitment to a sustainable future for our planet. Used to reveal opportunities for maritime decarbonisation that might otherwise remain hidden. Driving emission reductions Carbon Calculator is already trusted by some of the world’s top 10 container shipping companies as a first-step verification tool in their emissions-reduction journeys.
Nexans is a pioneer in the design and manufacturing of cables systems and services, specialising in the offshore wind market and subsea interconnectors. To secure Nexans’ cable deliveries to transmission system operator TenneT's North Sea projects, Eksfin in collaboration with Societe Generale provides a EUR 290 million performance guarantee. Nexans’ legal entity in Norway To support the delivery of subsea power cables for Germany’s renewable energy expansion, Export Finance Norway (Eksfin) worked with Societe Generale to provide a performance guarantee to Nexans. The guarantee is issued through Nexans’ legal entity in Norway. The total guarantee amount is EUR 290 million, shared equally between Eksfin and Paris-based bank Societe Generale, meaning each covers up to EUR 145 million. Offshore wind parks Nexans will deliver and install subsea power cables that will transport energy from offshore wind parks The guarantee supports a framework agreement signed in May 2023 between TenneT and Nexans, valued at an initial EUR 1.7 billion. Under this agreement, Nexans will deliver and install subsea power cables that will transport energy from offshore wind parks in the North Sea to the German market via the grid projects BalWin3, LanWin 4 and LanWin 2. Key stakeholder statements "Winning contracts on this scale depends on our ability to source appropriate bank guarantees. As an export-oriented company, having Eksfin’s large risk capacity on our side is a strong competitive advantage," said Lars Christian Eriksen, CEO of Nexans Norway. Eksfin Managing Director Ms. Tone Lunde Bakker added: "Supporting Norwegian suppliers to international offshore wind projects is a key strategic priority for Eksfin. It is our mission to help more Norwegian exporters win contracts to renewable energy projects globally. I am delighted that together with Nexans, we have succeeded in securing yet another large export contract for the Norwegian wind industry in this important market.” Societe Generale's Head of Trade Services, Marie-Laure Gastellu, commented: "Our collaboration with Eksfin has helped to come up with this solution to support Nexans’ projects. This transaction illustrates the bank’s capacity to develop complex and tailored solutions for our clients in strategic sectors such as the offshore wind energy.”
Global law firm Norton Rose Fulbright has advised BNP Paribas, a syndicate of lenders, SACE and SIMEST on the financing of four new cruise vessels for Viking Ocean Cruises. The financing consists of four export credit loan facilities, which are together worth around $2 billion. The facilities are backed by the Italian export credit agency SACE and contain a fixed-rate subsidy offered by SIMEST. Viking Ocean Cruise’s growing fleet The ocean-going passenger cruise vessels are being constructed at Fincantieri S.p.A The ocean-going passenger cruise vessels are being constructed at Fincantieri S.p.A. and are the 17th to 20th ocean cruise vessels to be built for Viking. Norton Rose Fulbright has advised the lenders, SACE and SIMEST, on fourteen of these financings. Partner Simon Hartley, who led the Norton Rose Fulbright team working on the transaction, said: “This is the third such deal that we have worked on for our clients, involving the financing of new vessels in Viking Ocean Cruise’s growing fleet." SACE export credit arrangements Hartley added: "This latest transaction, which is the first for Viking since it went public last year, demonstrates the ongoing high confidence in the passenger cruise sector that we are seeing across all sub-sectors, including the luxury segment in which Viking operates.” Simon Hartley was supported by counsel Matthew Bambury and associate Jennifer Carr in the firm’s London office. Arturo Sferruzza, a partner in the firm’s Milan office, advised on Italian law aspects relating to the SACE export credit arrangements. Range of legal services Norton Rose Fulbright’s shipping team offers the full range of legal services Norton Rose Fulbright’s shipping team offers the full range of legal services needed by shipping companies. The team is particularly well known for their cruise sector expertise, acting for some of the largest, most renowned industry participants on both the operator and lender side. World Class cruise vessels for MSC Cruises The team recently advised lenders on the financing of two Orient Express cruise ships, an ECA-backed financing of Royal Caribbean’s latest “Oasis Class” vessel “Utopia of the Seas” and an ECA-backed financing for two new LNG-powered ‘World Class’ cruise vessels for MSC Cruises. The firm’s is globally recognised for having pioneering Shipping and Ship Finance practices. Simon Hartley is named as a Band 1 practitioner for shipping finance in Chambers Global 2025 and as a pioneering Partner for Transport Finance and Leasing in the Legal 500, with Matthew Bambury listed as a pioneering Associate/Rising Star in the same category.
Watson Farley & Williams (“WFW”) advised a syndicate of lenders led by BNP Paribas (“BNPP”), SACE SpA and SIMEST SpA on the financing and delivery of the cruise vessel Norwegian Aqua, owned by Norwegian Cruise Line Holdings Ltd. group (“NCLH”) and built at Fincantieri’s Marghera shipyard in Italy. Norwegian Aqua is the third of NCLH’s Prima-class vessels and, at approximately 156,000 gt, is the largest vessel to be built at the Marghera shipyard. It can accommodate approximately 3,550 passengers and offers travellers a 10% increase in size and capacity to its guests compared to its sister vessels. Comparable cruise lines Norwegian Aqua's design reflects Norwegian Cruise Line's commitment to sustainability and innovation for a responsible cruise experience. First, it is designed to be spacious, offering up to 36% more space per guest than comparable cruise lines. It also stands out as one of the most visually striking ships ever constructed with the design of the hull artwork signed from artist Allison Hueman. As part of its numerous advanced technological features, Norwegian Aqua debuts the Aqua Slidecoaster, the world’s first hybrid roller coaster and water slide at sea using a magnetic lift system to launch guests through twists and turns. Its Glow Court is a first-of-its-kind interactive space that transforms a high-tech LED sport arena by day into a nightclub. Responsible cruise experience The NCLH group expects to add 12 additional ships across its three brands through 2036 NCLH is a global cruise company which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. With a combined fleet of 33 ships and approximately 70,000 berths, they offer itineraries to approximately 700 destinations worldwide. The NCLH group expects to add 12 additional ships across its three brands through 2036, which will add approximately 37,000 berths to its fleet. The cross-border WFW Finance team that advised the lenders was led by Paris Partner Alexia Russell, supported by London Associate Parit Patani, Paris Associate Panagiotis Pantos and Trainee Solicitor Emma Devenish. Alexia commented: “We are delighted to have assisted BNPP and the lenders on another successful delivery for NCLH, having most recently advised the syndicate of lenders on the deliveries of Seven Seas Grandeur and Vista in 2023. We wish both the vessel and NCLH all the best as it enters into service.”
HarborLab, the Athens-based maritime technology company, has launched a new AI-powered feature designed to optimise Disbursement Account (DA) analysis and streamline port expense management. This latest innovation, known as HL AI, is part of the company’s drive to fully integrating artificial intelligence (AI) into its entire platform ecosystem helping shipowners and operators unlock efficiency and major cost savings in daily vessel operations. Advanced digitalisation systems HarborLab, which raised more than $16 million in Series A funding in 2024, restarts to develop solutions HarborLab, which raised more than $16 million in Series A funding in 2024, continues to develop solutions and to expand its presence as more maritime companies look for advanced digitalisation systems to enhance operational efficiencies. With annual port-related spending for ship owners and operators being currently roughly $2 million per year for a single vessel on voyage charter, ship owners that operate a fleet of over 100 vessels, the financial risks of relinquishing DA approvals of up to $200 million annually to third parties or solely managing a traditionally cumbersome process in-house are too high. Latest AI-powered feature HarborLab’s solutions and its latest AI-powered feature are designed to empower their teams with greater control, real-time insights, and technology automation, enabling them to make faster, more confident operational and financial decisions. With the launch of HL AI, DA verification and approval workflows is enhanced by offering the ability to operators to see and understand how each port expense charged in a DA is calculated in greater detail, backed by HarborLab’s algorithmic insights and access to real-time port tariff data. HarborLab’s AI Agent HL AI can instantly translate all tariff documents to eliminate potential language barriers In addition, HL AI can instantly translate all tariff documents to eliminate potential language barriers, making it easier to understand official port information in English. HL AI can also automatically generate AI-powered email responses for expense discrepancies to accelerate negotiations. Moreover, HarborLab’s AI Agent is continuously learning and evolving as users adapt to the platform to ensure the system’s level of accuracy remains at the forefront of the wider HarborLab system. DA review capacity “More than $130 billion is spent globally across the industry every year on port expenses, yet many shipping companies still struggle with a traditionally opaque and time-consuming process of port cost management." "With HL AI we are eliminating inefficiencies and tripling the DA review capacity of industry players, ultimately giving them greater control over their financial operations,” said Antonis Malaxianakis, Chief Executive Officer and Founder of HarborLab. Latest step in the autonomous DA management process HarborLab is steadily growing into a broad end-to-end port call management platform “Crucially, HL AI is the latest step in our goal towards a fully autonomous DA management process by showcasing the power of AI in the world of commercial shipping." "At present, a single HarborLab user can oversee more than 1,000 port calls per year so this latest move will enable our users to be much more efficient when it comes to DA verification and handling,” he added. Operations for the entire maritime ecosystem Beyond port cost optimisation, HarborLab is steadily growing into a comprehensive end-to-end port call management platform. From accurate cost management and instant access to port insights to standardising event reporting for seamless laytime and demurrage calculations, and streamlining payments, claims, and cost validation with effortless scalability, HarborLab is moving closer to becoming the ultimate one-stop platform for port call management — delivering smarter, seamless, and more transparent operations for the entire maritime ecosystem. HarborLab representatives will be present at this year’s Singapore Maritime Week from 24-28 March to showcase the power and benefits of HL AI, alongside its range of award-winning software for principals, vendors and agents.
Expert commentary
President Donald Trump has already made plenty of headlines since taking up his second term in the White House, including with the announcement of numerous new tariffs on imports. The 47th United States President issued three executive orders on February 1st 2025, just days after his inauguration, which directed the US to impose an additional 25 percent ad valorem rate of duty on imports from Canada and Mexico, as well as ten percent on imports from China. How Trump’s 2nd term as US President Cleveland Containers has analysed the early reactions to these announcements Excluding Canadian energy resources exports – which instead will be hit with a ten percent tariff – the tariffs have been applied to all imports which are either entered for consumption or withdrawn from warehouse for consumption on or after 12:01 am Eastern Standard Time on February 4th 2025. President Trump also told reporters on February 8th 2025 that a 25 percent tariff on all American steel and aluminium imports was coming into effect across the US during February. Leading 40ft shipping container supplier Cleveland Containers has analysed the early reactions to these announcements and how President Trump’s second term as US President could affect the world’s shipping industry, especially when looking back at his first term. Reaction to President Trump’s tariff announcements Mexico, Canada and China were all quick to react to President Trump’s announcement of tariffs on imports. Mexican President Claudia Sheinbaum said her country would vow for resilience against the measures, while a senior government official in Canada said that their country would challenge the decision by taking legal action through the necessary international bodies. China has also said it would be challenging the tariffs at the World Trade Organisation. According to the country’s finance ministry, as reported on by Geopolitical Intelligence Services, Beijing were moving to place levies of 15 percent on American coal and liquefied natural gas, as well as levies of ten percent on crude oil, certain vehicles and farm equipment. Beginning of making America rich again When it comes to the announcement of the tariff on all American steel and aluminium imports, President Trump told reporters in the Oval Office: "This is a big deal, the beginning of making America rich again. Our nation requires steel and aluminium to be made in America, not in foreign lands.” Francois-Phillippe Champagne, the Minister of Innovation in Canada, stated that the tariffs were "totally unjustified" though, before adding in a post on X: "Canadian steel and aluminium support key industries in the US, from defence, shipbuilding and auto. We will continue to stand up for Canada, our workers, and our industries." How might President Trump’s 2nd term affect shipping sector? Bruce Chan, an analyst in the Transportation and Future Mobility sectors at wealth management and investment banking Just ahead of President Trump taking office for the second time, J. Bruce Chan, an analyst in the Transportation and Future Mobility sectors at wealth management and investment banking firm Stifel, believed that the shipping industry was prepared for the new tariffs. However, he also stated to the Morning Star: "President Trump's Administration promises to usher in a new trade and tariff regime. As such, it's difficult to assess the ultimate impact to the freight transportation industry. Prima facie, we believe tariffs are a drag on freight demand, effectively resulting in higher costs for shippers that are generally passed on to end consumers over time." Attention to the American sanction announcements Mr. Chan went on to note that those involved in shipping containers across continents should be paying particular attention to the American sanction announcements. He commented: "Because almost all trans-Pacific trade moves over the ocean, we believe ocean container shipping will see the largest direct impact. But for shippers and retailers, there is no cheaper way to move goods than over the ocean, so there are few modal alternatives if production remains in Asia. We see the most risk for maritime shipping, with containers and dry bulk being more acute, with more insulation for oil and gas tankers." Shipping news and intelligence service Various sources have looked back on President Trump’s first term to get an idea of what could be expected As President Trump has just become his second term as US president and the American sanctions have only just been announced, it will take time to see what the true impact will be. However, various sources have looked back on President Trump’s first term to get an idea of what could be expected. For example, shipping news and intelligence service Lloyd’s List pointed out that tariffs introduced when President Trump was last in the White House had a noticeable effect on both spot container freight rates and import timing. Cargoes were pulled forward in the second half of 2018 by importers as they looked to beat tariff deadlines, which resulted in higher spot rates temporarily before affecting rates in 2019 because of inventory overhang. Could repeat results be seen across 2025 and 2026? Long-life inputs and goods from the tariff countries Jason Miller, a freight economist and professor of supply chain management at Michigan State University, certainly seemed to think so. Speaking to Lloyd’s List before President Trump’s 2024 presidential victory when the tariffs were only part of campaign proposals at that point, he said: “We will see front-loading like we have never seen before in 2025. There would be a massive pull-forward of demand as everybody rushes to bring in long-life inputs and goods from tariff countries, especially China.” Shipping demand and routes Shipping demand and routes could be affected due to trade uncertainty too Meanwhile, international shipping and forwarding agents Supreme Freight Services reported that increased tariffs may cause disruption to shipping volumes and global supply chains, if trade policies introduced by President Trump during his first term are anything to go by. Shipping demand and routes could be affected due to trade uncertainty too, though the publication also acknowledged that increased investment in ports and inland waterways across the US could improve efficiency for domestic and international trade alike. New American sanctions Cleveland Containers has looked to reassure its customers that any disruption caused by the new American sanctions will be minimised at the firm. Hayley Hedley, the company’s Commercial Director, stated: “Recent history certainly suggests that the new tariffs being introduced by President Trump will have various knock-on effects across the shipping industry." “Fortunately, Cleveland Containers has a continuous supply of shipping containers entering the UK. We work with several agents to ship from various locations, as well as having good stock on the ground, so are confident in our ability to provide for our customers.”
The shipping industry is currently navigating a profound transformation driven by environmental concerns, new emissions targets, and evolving regulations. As vessel owners and operators seek to reduce emissions while remaining competitive, determining the right strategy has become increasingly complex. Factors such as alternative fuel availability, fluctuating prices, and an ever-expanding range of technological solutions have made decision-making anything but straightforward. Lack of motivation Regulations evolve, technologies persist to advance, and can differ greatly from port to port The complexity arises from the many moving parts of the industry. Regulations evolve, technologies continue to advance, and infrastructure can differ greatly from port to port. For vessel owners committed to reducing their environmental impact, the challenge isn’t a lack of motivation, it’s finding the most effective way to navigate the myriad of options available. Hybrid propulsion systems One method gaining traction is data-driven decision-making through digital modelling. Rather than making decisions based on guesswork, digital modelling allows owners and operators to create a detailed representation of a vessel and simulate the performance of different strategies or technologies over its lifetime. That way, they can ‘test’ these approaches before committing large investments—particularly useful when considering new fuels or hybrid propulsion systems that are still maturing. Decarbonisation Modelling Service Digital modelling accounts for variables such as vessel speed, power needs, and route patterns Digital modelling accounts for variables such as vessel speed, power needs, and route patterns, applying machine-learning algorithms to find the most promising design or retrofit. It can also show how ideas might evolve if regulations tighten, or new fuels become more practical. At Wärtsilä, our Decarbonisation Modelling Service is designed to guide shipowners and operators through this maze of choices. In developing this tool, we have observed that shipowners required more than an “off-the-shelf” solution. They needed insights based on their own operational data, combined with practical knowledge of costs and likely regulatory trends. Benefits of digital modelling One of the main benefits of digital modelling is its flexibility. Depending on an owner’s goals, whether that’s meeting today’s regulations or planning for future mandates, they can explore multiple options. A fleet operator might compare installing hybrid batteries versus retrofitting for LNG or consider alternative fuels such as ammonia and methanol, or carbon capture. These simulations can factor in fuel prices, available bunkering infrastructure, and even unexpected events like global supply chain disruptions or future carbon taxes. Ship’s actual operational profile At Wärtsilä we often liken digital modelling as the closest thing to a crystal ball At Wärtsilä we often liken digital modelling as the closest thing to a crystal ball. While it isn’t perfect, it significantly improves our ability to make informed decisions and maintain flexibility as market conditions or regulatory landscapes shift. Consider, for instance, a mid-sized container ship operating in Asia. The owner, eager to lower CO2 emissions, might be unsure whether to retrofit for LNG immediately or wait for ammonia infrastructure to mature. Using a digital model based on the ship’s actual operational profile, we can test both scenarios—evaluating fuel price trends, port facilities, and the vessel’s remaining service life. Adopt an interim strategy If the model indicates that an LNG retrofit offers a promising return on investment along with moderate emissions cuts, the decision becomes clearer. Alternatively, if the potential for ammonia becomes evident sooner, it might be wiser to adopt an interim strategy or consider dual-fuel engines. It’s important to recognise that decarbonisation is not merely a box-ticking exercise to meet current regulations; it is a dynamic, ongoing process. With tightening rules from bodies like the International Maritime Organization (IMO) and the EU on carbon intensity, and with cargo owners increasingly demanding transparency, the need for adaptive, data-driven solutions is more critical than ever. LNG with battery storage Others might make quick retrofits to comply with rules and plan for bigger upgrades later Another strength of data-driven decarbonisation is that it is not a one-off activity. As a vessel operates, new information becomes available. Owners can update their models to reflect these shifts, allowing for continuous refinement. This matters because what is optimal now may only be a temporary measure. Some operators use LNG with battery storage for a few years, then switch to next-generation fuels as they become viable. Others might make quick retrofits to comply with regulations and plan for bigger upgrades later. Raw data into actionable insights There is also a perception that gathering and interpreting data is too complex or costly. However, many modern vessels are already equipped with the necessary sensors and tracking systems, and analytics software has become more accessible. The real value lies in transforming raw data into actionable insights. Digital models not only help in planning for evolving market conditions but also enable us to visualise and execute long-term strategies. Portion of global CO2 emissions The real test is balancing environmental aims with retail realities and regulatory forces Shipping contributes a notable portion of global CO2 emissions, giving the industry strong financial and ethical reasons to embrace cleaner operations. The real test is balancing environmental aims with commercial realities and regulatory pressures. With mounting pressure from regulators, customers, and investors, now is an opportune time to adopt data-driven approaches. A continuously updated model provides a practical way to keep up with changes in the market and policy landscape. By integrating operational data, anticipating possible scenarios, and remaining open to new solutions, the maritime industry can cut emissions without sacrificing competitiveness. Shipowners and operators Shipping is an industry that operates on tight margins and these tools must deliver financial stability as well as ongoing compliance. Digital modelling is not just another technical tool; it’s a forward-looking process that helps shipowners and operators steer a confident course in uncertain waters. As more companies experiment with alternative fuels, hybrid propulsion, and emerging technologies, having a robust method for evaluating these options is absolutely essential.
The terms under the new Building Safety Act 2022 became enforceable from October 1st this year. Here, Bob Glendenning, Fire Design Engineering Manager of Sherwin-Williams Protective & Marine Coatings, examines why creating a ‘Golden Thread’ of information within the new legislation is so important for those involved in the intumescent coatings industry. Building Safety Act 2022 The Building Safety Act 2022 (BSA) has been developed as a new framework for the design, construction, and occupation of ‘higher risk’ buildings. These buildings are defined as being a minimum of 18 metres or seven storeys in height and comprise of at least two domestic premises. Building Safety Regulator (BSR) The BSR aims to raise building safety standards and the performance of buildings These regulations required that all existing occupied high-risk buildings should be registered with the new Building Safety Regulator (BSR) from April 6, 2023, and no later than October 1, 2023. The BSR is an independent body that forms part of the Health and Safety Executive, which aims to raise building safety standards and the performance of buildings while also monitoring the competence of regulators and industry professionals. Principal Accountable Person The reality of this new legislation is that under the terms of the Act, a Principal Accountable Person who fails to register an occupied higher-risk building ‘without a reasonable excuse’ will be liable to either a fine or imprisonment for a term not exceeding two years. The Principal Accountable Person is described as the organisation or person who owns or has responsibility for, the building. It may also be an organisation or person who is responsible for maintaining the common parts of a building, for example, corridors or lobbies. The three Gateways provide evidence The criteria for the Golden Thread require all relevant documents and evidence to be stored digitally The Golden Thread is an information trail that runs through all of the three Gateways from the outset to completion and occupation so that end users can be assured of compliance, quality, and safety and have confidence in the products used to provide fire and life safety. For the protection of structural steel with intumescent coatings, those who may need to submit information may include main contractors, architects, designers, specifiers, fabricators, and applicators. Indeed, any party who is responsible for fire safety critical elements or components. Importantly, the criteria for the Golden Thread require all relevant documents and evidence to be stored digitally to prove that adequate steps have been taken in the construction and ongoing maintenance of a building. Gateway 1 – covering the planning stage. This has been in force since August 1, 2021, and sets out the framework for the second and third stages. Applicants need to demonstrate that fire safety matters have been incorporated into the planning stage for all buildings. The Health and Safety Executive (HSE), who is now also the BSR, will be part of the consultation. If a fire statement is required to be submitted with a planning application it will be an issue for consideration for the Local Planning Authority (LPA) when reaching its decision on the application. Contractors should take note that if the LPA considers the statement inadequate it can refuse the application. Early engagement and collaboration Collaboration between all parties helps to clarify any points upfront before they become a problem At Sherwin-Williams, our policy of early engagement and collaboration between all parties helps to clarify any points upfront before they become a problem with the subsequent knock-on effect on time and cost. Engaging multiple stakeholders including designers, fabricators, and applicators early and consistently throughout the process is key to delivering a successful, safe, and cost-efficient solution. Safe and efficient structural fire protection approach Working together, we share knowledge and help our clients to reach their goals. After all, we are all now part of this renewed responsibility. We encourage and fully support this early engagement. With the correct information from the project team, we can provide information and guidance on a safe and efficient structural fire protection approach. Gateway 2 – submitting building control approval to the Regulator. The Regulator has 12 weeks to approve or reject these building control applications or to approve them This should include written declarations covering the competency of the main contractor, and designer, a description of works and plans, and a planning statement from Gateway 1. Importantly, there should be information about how evidence is being captured to maintain the Golden Thread. The Regulator has 12 weeks to approve or reject these building control applications or to approve them subject to the fulfilment of certain requirements. Notifiable changes Any major changes at this stage will also need approval from the Regulator, and records of the controlled change including an explanation of compliance with Building Regulations will also need to be maintained. The categorisation of major and ‘notifiable changes’ are still subject to consultation under the new legislation. Gateway 3 – providing information to ensure the building is safe for occupation. There is a requirement to submit a completion certificate application and provide updated plans There is a requirement to submit a completion certificate application and provide updated plans. These plans should reflect the scale of the higher-risk building, key building information, a list of mandatory incident reporting, and signed declarations from the main contractor and principal designer that the works and building comply with Building Regulations. Finally, confirmation that information for the Golden Thread has been handed over to the accountable person should also be declared. There is then a 12-week period for the Regulator to approve the application for a completion certificate. We all have a role to play Remember, responsibility lies with us all. Nobody in the supply chain can absolve themselves. The Accountable Person must have assessed all building safety risks and taken all reasonable steps to control them, give the safety case report to the Regulator on request, and apply for a building assessment certificate. To be clear, the information stored in the Golden Thread needs to be accurate, easily understandable, up-to-date, and readily accessible. Good practice and compliance The Golden Thread constitutes any relevant package of information that refers specifically to a project In echoing the point made by Dame Judith Hackitt, we at Sherwin-Williams emphasise that the Golden Thread constitutes any relevant package of information that refers specifically to a project or programme of works. This could come in various forms including a product specification, marked-up drawings, CAD data, a BIM model, a product/member DFT schedule, application records, or datasheets for example. As long as it provides evidence of good practice and compliance, it is relevant. Use of intumescent coatings It is important to understand and work with this new process. It has been introduced for good reason and our message is not to underestimate your role whatever it may be from the main contractor through to the applicator. We want our customers to embrace change for the better. Capturing relevant data on the use of our intumescent coatings contributes to best practices for their uses and for those people who move about in these buildings who surely have the right to expect the highest levels of safety. This information validates each key stage of The Golden Thread. Provide the right information We should highlight that it is the responsibility of each Principal Accountable Person to provide the right information to the supply chain including those bidding on the intumescent fire protection package who in turn are then responsible for all information being passed onto us is accurate. Also, bear in mind that this commitment to best practice and gathering of evidence of compliance is not just for the short term but for the lifetime of a building and will be highly valuable should anything happen during its occupation. Think of it as future-proofing life safety for everyone’s sake.
Harbour insights
The maritime industry is taking important steps to improve cybersecurity, catching up rapidly by introducing other industries' best practices into information technology (IT) and operational technology (OT) onboard vessels. Work remains to be done to ensure a cyber-resilient worldwide fleet of maritime operations. The way forward is through collaboration among all major stakeholders. Remote-controlled and autonomous ships In the future, the marine industry will increasingly use remote-controlled and autonomous ships and infrastructure. One can imagine multi-ship, multi-infrastructure hybrid scenarios where a software failure or a cyber-attack could result in widespread damage. “Protecting this advanced marine industry will drive the need for even higher levels of cybersecurity, reliability, and robustness of marine automation systems and software,” says Svante Einarsson, Head of Maritime Cyber Security Advisory, DNV Cyber. Cybersecurity insights CyberOwl complements DNV Cyber with advanced analytics and threat management for maritime vessels Einarsson shares additional insights into cybersecurity for the maritime industry in our recent interview. DNV expanded its cybersecurity capabilities by acquiring Applied Risk in 2021 and Nixu in 2023, forming DNV Cyber with over 500 experts. This merger enhances maritime cybersecurity by integrating IT and industrial control system security services, offering comprehensive solutions from risk assessment to incident response. CyberOwl complements DNV Cyber with advanced analytics and threat management for maritime vessels, ensuring real-time threat monitoring and support to sustain regulatory compliance. Maritimeinformed.com: What are the cybersecurity vulnerabilities in the maritime market? What are the possible consequences and/or worst-case scenarios? Einarsson: The maritime industry faces several cybersecurity vulnerabilities, including the integration of IT and OT systems, unsecured Internet of Things (IoT) devices, outdated software, weak authentication, and human factors like phishing. The consequences of breaches can be severe, such as operational disruption, data theft, ransomware attacks, cyber-physical attacks, and supply chain disruption. A worst-case scenario includes hybrid incidents that compromise both IT and OT systems at the same time within highly trafficked areas (such as a port). Depending on the available time and alternative means, the vessel might run aground resulting in major oil spills, environmental disasters, and/or significant loss of life. These vulnerabilities and potential impacts highlight the critical need for robust cybersecurity measures in the maritime sector. Maritimeinformed.com: What is the role of regulations when it comes to cybersecurity in the maritime market, including IMO, IACS, and critical infrastructure regulations? How do regulations drive better cybersecurity practices? The EU’s NIS2 directive enforces robust cybersecurity strategies and incident reporting Einarsson: Regulations play a crucial role in maritime cybersecurity by setting global standards and ensuring compliance. The International Maritime Organisation (IMO) mandates cyber risk management in Safety Management Systems, while the International Association of Classification Societies (IACS) requires cybersecurity integration in systems and ships throughout the lifecycle of a vessel for new builds contracted after July 1, 2024. The EU’s NIS2 directive enforces robust cybersecurity strategies and incident reporting. These regulations drive better practices by standardising frameworks, holding organisations accountable, promoting holistic risk management, enhancing transparency, and fostering continuous improvement. This comprehensive regulatory approach forces all stakeholders in the industry (yards, vendors, and ship managers) to act and work together to implement effective cyber resilience. Maritimeinformed.com: How does greater awareness boost cybersecurity? What is the role of near misses in driving cyber awareness and investments? Einarsson: Greater awareness boosts cybersecurity by educating individuals and organisations about potential threats, leading to better prevention and response strategies. It fosters a culture of vigilance, reducing the likelihood of successful attacks. Near misses play a crucial role by highlighting vulnerabilities and demonstrating the potential impact of cyber threats without causing actual harm. These incidents drive investments in cybersecurity by showcasing the need for robust defences, and well-planned responses, and encouraging proactive measures to prevent future breaches. Maritimeinformed.com: What are the pitfalls of over-confidence and under-preparation when it comes to cybersecurity? Einarsson: Overconfidence in cybersecurity can lead to complacency, ignoring potential threats, and underestimating attackers. For example, relying on boundary protection only, and believing that a system is impenetrable might result in neglecting regular updates and patches, leaving it vulnerable to exploits. Under-preparation, on the other hand, means inadequate de fences, response plans, and drills. An example is the 2017 Equifax breach, where failure to patch a known vulnerability led to the exposure of sensitive data of 147 million people. Both pitfalls can result in significant financial and reputational damage. Maritimeinformed.com: What is the role of technology advancements in driving the need and awareness of cybersecurity (e.g., the impact of digitisation, decarbonisation, automation, etc.)? Digitisation and automation support decarbonisation also increase the need for cybersecurity Einarsson: Decarbonisation is one of the key shaping factors in maritime today. Technology advancements like digitisation and automation support decarbonisation but also increase the need for cybersecurity by expanding the attack surface and introducing new vulnerabilities. As industries adopt remote maintenance, IoT, artificial intelligence (AI), and other technologies, the complexity and connectivity of systems grow, making them more susceptible to cyber threats. An example is how scrubber systems with modern technologies such as remote connectivity are retrofitted onboard older vessels today, creating a new and potentially unmanaged gateway to the control systems onboard the vessel. In other words, cybersecurity enables digitisation and decarbonisation. Maritimeinformed.com: What is the labor situation when it comes to the skillsets needed for cybersecurity excellence? Is there a shortage of expertise and how can it be addressed? Einarsson: The cybersecurity industry faces a significant skills shortage, with a very large number of positions unfilled globally. This gap is driven by the rapid evolution of cyber threats and the increasing complexity of digital environments. To address this, organisations should adopt skills-based hiring, offer continuous training and upskilling, and create clear career paths. Attracting diverse talent and collaborating with educational institutions can also help bridge the gap. Emphasising both technical and soft skills is crucial for developing a robust cybersecurity workforce. Many times the best option is to combine different competencies of several people into an aligned team, such as superintendents with OT system and operation expertise with cybersecurity and IT fleet experts. Maritimeinformed.com: What is the emerging role of AI in cybersecurity, such as the ability to anticipate attacks before they happen? AI-driven tools can predict and anticipate attacks by recognising early warning signs, allowing teams to address vulnerabilities Einarsson: AI can significantly enhance cybersecurity teams' effectiveness by providing advanced threat detection and predictive analytics. Machine learning algorithms analyse vast amounts of data to identify patterns and anomalies that may indicate potential cyber threats. AI-driven tools can predict and anticipate attacks by recognising early warning signs, allowing teams to address vulnerabilities proactively. Additionally, AI automates routine tasks, freeing up human experts to focus on more complex issues. Human teams can assess AI-generated results, ensuring accuracy and context, and make informed decisions. Real-time threat intelligence and automated response systems ensure quicker mitigation of incidents, ultimately strengthening the overall security posture and reducing the likelihood of successful cyber-attacks. Maritimeinformed.com: What is the impact of geopolitics on cybersecurity? How does the geo-political situation contribute to risks? Einarsson: Geopolitics significantly impacts cybersecurity by increasing the frequency and severity of cyber-attacks. Conflicts like the Russia-Ukraine war have led to coordinated cyber and hybrid offensives, targeting critical infrastructure globally. Geopolitical tensions contribute to risks by creating an environment where state and non-state actors exploit vulnerabilities and accessible assets for espionage, sabotage, and disinformation. The most obvious related threat in the maritime domain is GPS and AIS spoofing which is very common in military active areas. Incidents have already happened where the untrained crew has had their ship impounded after being misled into foreign state waters.
Augmented reality (AR) is making waves across various industries, and maritime is no exception. For maritime professionals, AR offers practical, real-time solutions that enhance safety, optimise operations, and improve decision-making both at sea and onshore. Whether it’s helping crews navigate complex environments, assisting in ship maintenance, or providing on-the-job training, AR’s ability to blend digital information with the physical world is proving invaluable in the fast-paced and challenging maritime environment. This article explores the benefits, applications, and potential of AR in the maritime industry. Understanding AR and its intent Augmented reality (AR) overlays digital content—such as data, graphics, and 3D models—onto the real-world environment, enhancing users’ perception of their surroundings. Unlike virtual reality (VR), which creates entirely simulated environments, AR supplements the real world with additional information that can be viewed through devices like smartphones, tablets, or AR glasses. Accuracy, efficiency, and safety The core objective of AR in the maritime industry is to create a more intuitive and information-rich working environment In the maritime context, AR intends to enhance the accuracy, efficiency, and safety of various operations. By providing real-time data and visuals, AR allows maritime professionals to make better-informed decisions, whether they’re navigating a vessel through busy waters, inspecting machinery, or managing cargo in a port. The core objective of AR in the maritime industry is to create a more intuitive and information-rich working environment, reducing risks, preventing errors, and increasing operational efficiency. AR applications in maritime operations One of the most significant applications of AR in the maritime industry is in navigation. AR can assist ship officers by overlaying critical navigation data—such as chart information, vessel traffic, weather conditions, and obstacles—directly onto the real-time view of the sea. This helps enhance situational awareness, particularly in congested waterways or during low-visibility conditions like fog or storms. With AR, navigators can visualise information directly in their line of sight, minimising the need to shift focus between different instruments or screens. Maintenance and repair operations Maintenance and repair operations are another area where AR has proven to be highly effective. Technicians can use AR glasses or tablets to access real-time information on ship components, including interactive 3D models, schematics, and procedural guides. This allows for faster and more accurate repairs, reducing downtime and the need for specialised training. AR can also connect remote experts with on-site technicians, enabling real-time support and troubleshooting. Training and simulation Crew members can undergo immersive training sessions where they interact with AR-enhanced environments Training and simulation are other critical areas benefiting from AR. New crew members can undergo immersive training sessions where they interact with AR-enhanced environments, practicing tasks such as emergency procedures or cargo handling in a risk-free setting. This improves skill retention and reduces the time required to get new hires up to speed. In ports, AR can assist with cargo management by displaying real-time data on container contents, destination, and status. This streamlines the loading and unloading process, reducing errors and improving overall port efficiency. Benefits of AR for maritime stakeholders The integration of AR technology delivers a wide array of benefits to different maritime stakeholders, from shipowners and operators to port managers and regulators. For shipowners and operators, AR enhances the safety and efficiency of vessel operations. Improved navigation capabilities lead to fewer accidents, while real-time maintenance support reduces the risk of machinery failures and extends equipment lifespan. Immersive, on-the-job learning experiences Additionally, AR can cut training costs by providing immersive, on-the-job learning experiences that don’t require expensive simulators or extended training periods. Port operators also benefit from AR technology. Enhanced cargo management, optimised logistics, and real-time tracking of goods improve turnaround times and reduce operational bottlenecks. With AR’s ability to overlay data onto physical containers or equipment, ports can achieve greater accuracy in inventory management and resource allocation. Real-time data and augmented visuals AR can streamline the inspection process, ensuring that ships and ports meet regulatory requirements For manufacturers and engineers, AR enables the visualisation of complex equipment and components in a real-world context. This can facilitate better communication between shipbuilders, designers, and engineers, leading to more accurate construction and faster problem-solving when issues arise. Regulators and maritime authorities can use AR to improve safety inspections and compliance checks. By providing inspectors with real-time data and augmented visuals, AR can streamline the inspection process, ensuring that ships and ports meet regulatory requirements more efficiently. Encouraging Collaboration Across the Maritime Ecosystem One of the most exciting aspects of AR is its potential to foster collaboration among various maritime stakeholders. By connecting on-site personnel with remote experts through AR-enabled devices, maritime operators can access specialised knowledge without requiring experts to be physically present. This promotes better teamwork across geographical distances, improving problem-solving and decision-making in real-time. Reduces downtime For example, when a ship experiences technical issues in a remote location, AR allows an engineer onshore to guide a crew member step-by-step through the repair process, using visual overlays and interactive tools to ensure accuracy. This reduces downtime and ensures that operations can continue without the need for costly or time-consuming travel. Reduces errors By combining AR with digital twin technology, maritime professionals can access real-time digital replicas Collaboration is also enhanced in ship design and construction. AR allows shipbuilders, designers, and engineers to visualise and manipulate 3D models in a real-world environment, making it easier to collaborate on complex projects and reduce errors during the construction phase. Moreover, AR can integrate with broader industry initiatives, such as digital twins and automation. By combining AR with digital twin technology, maritime professionals can access real-time digital replicas of ships or port equipment, enabling more effective monitoring, predictive maintenance, and resource management. Misconceptions and challenges in adopting AR Despite its potential, some misconceptions about AR remain within the maritime industry. One common misconception is that AR is solely for high-tech, cutting-edge operations and isn’t suitable for traditional maritime businesses. However, AR technology is highly scalable, and its applications can be adapted to a wide range of maritime operations, from small vessels to large container ships and ports. Another misconception is that AR requires significant upfront investment in expensive hardware and software. Long-term savings While initial costs can be high, particularly for advanced AR glasses and devices, the long-term savings in operational efficiency, reduced training times, and improved safety often outweigh these costs. Additionally, more affordable AR solutions are emerging, making the technology accessible to a broader range of operators. Enhance focus and reduce cognitive load AR devices could create, particularly in high-stress environments like ship navigation or cargo handling There are also concerns about the potential distraction that AR devices could create, particularly in high-stress environments like ship navigation or cargo handling. However, when implemented thoughtfully, AR is designed to enhance focus and reduce cognitive load by delivering critical information directly to the user’s line of sight, rather than requiring them to divert attention to multiple screens or devices. Coordinating AR with Industry Initiatives and Future Trends AR is increasingly being integrated with other technological advancements in the maritime sector, including automation, the Internet of Things (IoT), and digital twin technologies. By providing real-time insights and data visualisation, AR can help facilitate the use of autonomous ships and enhance the monitoring and management of connected maritime systems. As the industry continues to prioritise sustainability, AR can also play a role in promoting greener practices. By optimising navigation routes and improving fuel efficiency, AR can help ships reduce emissions and minimise their environmental impact. AR-enhanced training As the technology continues to evolve, its applications will expand, offering new ways to improve safety Furthermore, AR-enhanced training can focus on eco-friendly practices, reinforcing the maritime industry’s commitment to sustainability. Looking forward, AR will likely play a crucial role in the future of maritime operations. As the technology continues to evolve, its applications will expand, offering new ways to improve safety, efficiency, and collaboration across the industry. AR navigating the challenges of the 21st century Augmented reality is poised to become a transformative tool in the maritime industry, offering tangible benefits in safety, operational efficiency, training, and collaboration. By integrating AR technology into maritime operations, professionals can stay ahead of industry challenges, enhance decision-making, and foster greater collaboration across the global supply chain. With the right approach, AR will not only improve day-to-day operations but also help future-proof the maritime industry as it navigates the challenges of the 21st century. {##Poll1732855978 - What area of maritime operations do you think would benefit the most from augmented reality (AR)?##}
As the maritime industry accelerates its journey toward decarbonisation, the focus on alternative fuels has intensified. E-methane E-methane, a synthetic gas produced using renewable electricity and carbon capture, is emerging as a promising substitute for conventional natural gas. This innovative fuel offers a way to significantly reduce greenhouse gas emissions while leveraging existing liquefied natural gas (LNG) infrastructure. For maritime professionals, the potential benefits of e-methane extend beyond environmental gains, this fuel could revolutionise ship propulsion, enhance regulatory compliance, and help future-proof operations. Understanding e-methane and its intent E-methane is a synthetic, renewable fuel designed to mimic the properties of conventional methane E-methane, also known as synthetic methane, is a carbon-neutral fuel produced through the electrolysis of water using renewable energy sources, such as wind or solar power. The resulting hydrogen is then combined with carbon dioxide captured from industrial emissions or directly from the atmosphere to produce methane. Unlike fossil-based natural gas, e-methane is a synthetic, renewable fuel designed to mimic the properties of conventional methane while minimising the carbon footprint of maritime operations. Reducing fossil fuel dependency The primary intent behind the adoption of e-methane in the maritime industry is to reduce the sector's dependency on fossil fuels and contribute to global climate goals. The fuel’s carbon-neutral lifecycle, combined with the potential for net-zero operations, makes it an attractive option for ship owners and operators looking to meet increasingly stringent environmental regulations. The technology behind e-methane production The production of e-methane involves two critical technologies: electrolysis and carbon capture. Electrolysis is the process of splitting water molecules into hydrogen and oxygen using electricity. When this electricity comes from renewable sources, the resulting hydrogen is considered “green.” This green hydrogen is then synthesised with captured carbon dioxide to create methane, chemically identical to natural gas. Carbon capture technology This approach creates a closed carbon loop where the CO2 produced during combustion is offset by the CO2 used Carbon capture technology is essential for e-methane production. CO2 can be captured from various industrial processes, such as cement production or power generation, or directly from the atmosphere through direct air capture (DAC) technologies. By using this captured CO2 in the production of e-methane, the process effectively recycles carbon that would otherwise contribute to atmospheric greenhouse gases. This approach creates a closed carbon loop where the CO2 produced during combustion is offset by the CO2 used during fuel synthesis, making e-methane a potentially net-zero option for maritime fuel. Applications in the maritime industry E-methane offers significant advantages to the maritime industry, particularly in ship propulsion. The ability to use e-methane as a drop-in replacement for LNG makes it a highly versatile fuel. Existing LNG-powered vessels and bunkering infrastructure can be utilised with minimal modifications, reducing the need for expensive retrofits or new technologies. This compatibility makes e-methane a practical option for maritime operators who have already invested in LNG-fueled ships. Reduction of methane slip Another key application is in the reduction of methane slip, a phenomenon where unburned methane is released into the atmosphere during combustion. Since e-methane is synthesised using captured carbon, its overall environmental impact is reduced, even when factoring in methane slip. In addition to ship propulsion, e-methane could play a role in port operations. Shore-based power generation, which often relies on fossil fuels, could transition to e-methane, reducing emissions from ports and contributing to the overall sustainability of the maritime supply chain. Benefits for maritime stakeholders Shipowners and operators stand to benefit from compliance with future environmental regulations E-methane offers distinct advantages for various maritime stakeholders. Shipowners and operators stand to benefit from compliance with future environmental regulations while continuing to utilise existing LNG technologies. This provides a clear path to decarbonisation without the need for significant capital investments in new fueling systems. Fuel compatibility Port operators and shippers can also benefit from the widespread adoption of e-methane, as it supports cleaner, more sustainable port environments. The fuel's compatibility with LNG infrastructure ensures that ports will not need to invest in entirely new bunkering systems, making the transition to e-methane economically viable for all parties involved. Engine design and fuel systems For manufacturers, the shift to e-methane could drive innovation in engine design and fuel systems, supporting the development of more efficient and environmentally friendly vessels. Additionally, e-methane aligns with the broader goals of regulatory bodies, which are increasingly pushing for the reduction of greenhouse gas emissions from international shipping. Fostering collaboration across maritime Ship owners, manufacturers, port operators, and regulators can work together to create a seamless transition The adoption of e-methane could foster greater collaboration across the maritime ecosystem. Ship owners, manufacturers, port operators, and regulators can work together to create a seamless transition to this carbon-neutral fuel. By sharing data on fuel performance, operational efficiency, and environmental impact, stakeholders can collectively optimise the use of e-methane across the supply chain. International partnerships Collaboration is particularly important when considering the global nature of the maritime industry. International partnerships can help develop standardised e-methane bunkering facilities and supply chains, ensuring that the fuel is available to vessels regardless of their trade routes. Furthermore, e-methane presents an opportunity for maritime stakeholders to align with broader industry initiatives, such as the International Maritime Organisation’s (IMO) decarbonisation targets. By embracing e-methane, the industry can contribute to global efforts to reduce shipping emissions and comply with upcoming regulations. Challenges facing e-methane Despite its potential, there are some misconceptions surrounding e-methane. One common belief is that e-methane production is too expensive or technologically unfeasible for widespread adoption. While the current production costs of e-methane are higher than those of conventional LNG, advances in renewable energy and carbon capture technologies are expected to bring these costs down over time. Additionally, the existing LNG infrastructure reduces the need for new investments, making e-methane a more cost-effective solution than it might initially appear. E-methane vs. ammonia One of the key challenges e-methane poses to ammonia is its ability to integrate with current systems As the maritime industry evaluates alternative fuels, ammonia has gained significant attention as a zero-carbon option. However, e-methane presents a compelling alternative, especially for operators with existing LNG infrastructure. One of the key challenges e-methane poses to ammonia is its ability to integrate with current systems, offering a more gradual transition to decarbonisation. While ammonia has the potential for significant environmental benefits, its widespread adoption would require new bunkering infrastructure and engines designed to handle its corrosive nature and toxicity. Balance of environmental goals The choice between e-methane and ammonia will ultimately depend on the balance of environmental goals, infrastructure costs, and regulatory pressures. E-methane’s compatibility with existing LNG infrastructure may give it an edge in the near term, but ammonia could emerge as a strong competitor as technology advances and regulations become more stringent. E-methane and the future of sustainable shipping Substituting e-methane for natural gas offers the maritime industry a path toward decarbonisation that leverages existing investments in LNG infrastructure while reducing greenhouse gas emissions. For maritime professionals, the transition to e-methane promises not only compliance with environmental regulations but also operational efficiency and cost savings. As the industry collaborates to scale up production and distribution, e-methane could play a critical role in the future of sustainable shipping, competing with other alternative fuels like ammonia in the race to a zero-carbon future.
Case studies
Cochin Shipyard Limited (CSL), the premier shipbuilding and ship repair company in India, has delivered the 10th Electric Hybrid 100 Pax Water Metro Ferry BY 125 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 on behalf of their respective organisations. Both organisations worked closely towards the successful completion of this project, which contributes significantly to the sustainable development and modernisation of water transportation in Kochi, India. Electric Hybrid 100 Pax Water Metro Ferry BY 125 The Electric Hybrid 100 Pax Water Metro Ferry BY 125 is a state-of-the-art vessel The Electric Hybrid 100 Pax Water Metro Ferry BY 125 is a state-of-the-art vessel designed to provide efficient, eco-friendly, and convenient transportation options for the residents and visitors of Kochi. With a focus on sustainability and environmental responsibility, this ferry is equipped with electric hybrid technology, ensuring reduced emissions and minimised environmental impact. CSL and KMRL partner to advance India’s maritime capabilities By achieving the milestone of delivering the 10th Water Metro Ferry, CSL and KMRL have demonstrated their commitment to advancing the Nation's maritime capabilities, while prioritising eco-conscious transportation solutions. The collaboration between the two esteemed organisations is a testament to the potential for excellence within the Indian shipbuilding industry. CSL and KMRL officials conveyed their gratitude to all stakeholders, including DNV and IRS, for their support and partnership on the project.
Universal and equitable access to drinking water and adequate sanitation and hygiene services, as well as the improvement of water quality at a global level, are part of the Sustainable Development Goals of the 2030 Agenda for Sustainable Development, but they have also become part of a daily problem in many parts of the planet. Ingeteam, with its Indar submersible pumps and motors designed and manufactured in Beasain, Spain, contributes to solve part of this problem; and among the numerous applications for which the submersible pumps and motors are intended are desalination plants. Indar submersible pumps and motors installed In this context, the six pumps and their corresponding submersible motors have been installed in the desalination plants of Alicante I and San Pedro del Pinatar I, both belonging to the Commonwealth of the Taibilla Canals, and their main task will be to take the water to be desalinated from the sea and discharge it as drinking water to the primary water network of the region, which in the summer period has more than 3 million inhabitants. The desalination plants and their operation The Alicante I desalination plant is located in Aguamarga, in the municipality of Alicante, Spain The Alicante I desalination plant is located in Aguamarga, in the municipality of Alicante, Spain. It has a maximum production of 57,500 m³ of water per day and the treated water is fed into the New Alicante Canal (enlarged in 2006). In this installation, 2 Indar pumps manufactured by Ingeteam have been implemented with their respective motors. These water collection units will work in coastal vertical wells which usually have a high variability of water level. Seawater desalination plant using Ingeteam technology The second seawater desalination plant using Ingeteam technology is called San Pedro de Pinatar 1. It is designed to produce and supply the Commonwealth with a daily volume of up to 65,000 m³ of drinking water. The plant is located in the El Mojón area, near the Salinas and Arenales de San Pedro del Pinatar, in the Region of Murcia, Spain. The new units supplied will replace the 4 identical units supplied by the company in 2003. Stainless steel units supplied The 6 units for these desalination plants have been supplied to Ingeteam’s distributor, Juan Azcue, S.A., and are made of stainless steel, which is highly resistant to corrosion in aggressive environments, such as salinity, humidity, and acid or alkaline media. Both plants take the water from the vicinity and then proceed to its treatment. Thus, the process includes a seawater pretreatment that guarantees its optimal conditions (physical and chemical); desalination as such, which is carried out by means of membrane racks; and finally, a seawater post-treatment that guarantees compliance with the criteria established for water for human consumption by the regulations in force.
Spire Global, Inc. (‘Spire’ or ‘the Company’), a global provider of space-based data, analytics and space services, was selected by ESP Logistics Technology (‘ESP’), an internationally renowned company in supply chain productivity and sustainability, to provide wind data through its weather conditions API and real-time automatic identification system (AIS) vessel-tracking data. In the intricate supply chain industry, even the slightest disruption can lead to significant challenges and delays. This has led to a US$ 3.4 billion inventory optimisation, logistics, and visualisation and reporting market. ESP picks Spire’s comprehensive weather conditions API ESP also is utilising Spire’s AIS data to provide its clients with real-time tracking of their ships ESP Logistics Technology (ESP) has chosen Spire’s comprehensive weather conditions API to provide their helicopter customers with immediate, accurate wind data to make operational flight decisions. ESP also is utilising Spire’s AIS data to provide its clients with real-time tracking of their ships and estimated time of arrival at their destination, based on historical data of ships travelling similar routes. Enhancing supply chain efficiency “At ESP, we are committed to enhancing supply chain efficiency and ensuring our clients’ operations run smoothly,” said Jonathan Rosenthal, the Chief Executive Officer (CEO) of ESP, adding “With accurate wind data, our helicopter customers can optimise their flight operations, while real-time ship-tracking enables us to proactively manage deliveries, reducing delays and enhancing overall productivity.” He adds, “This collaboration with Spire reinforces our dedication to providing top-notch services and empowers us to make informed decisions in the face of the increasingly complex supply chain.”
The accuracy of AIS data used to track ship movements is vital for the analysis of vessel performance in areas such as fuel consumption. OrbitMI has therefore collaborated with Maritime Data on a joint project to enhance the screening of AIS data providers so it can deliver the best quality data for clients. Orbit vessel performance platform “We are continuously striving to optimise data inputs for users of our newly upgraded Orbit vessel performance platform to improve business decision-making." "With this goal in mind, we engaged Maritime Data as a trustworthy partner to contribute its specialist expertise in data procurement for the industry,” says OrbitMI’s Chief Marketing Officer David Levy. Assuring the quality of data inputs Maritime Data supports companies in the maritime ecosystem from concept to contract Maritime Data is a UK-based start-up founded in 2022 by Co-Founders Rory Proud and James Littlejohn with a mission to address the difficulties in sourcing, evaluating, and buying maritime data by acting as a specialised intermediary between buyer and supplier. As a data broker, Maritime Data supports companies in the maritime ecosystem from concept to contract. This enables clients to quickly understand all available solutions relevant to their requirements, evaluate comparable options, and contract with their suppliers of choice. All to minimise the effort required and give time back to the people building solutions needed to tackle the industry's biggest challenges. Buying data is made easier. Accurate customer service Backed by more than 15 years of experience in the sector, Maritime Data has built up an extensive partner network of over 50 maritime intelligence suppliers and 200-plus product offerings in areas such as vessel tracking, emissions calculation, seaborne cargo flows, risk and compliance, port activity, trade statistics, weather, and vessel ownership. “The quality of data being inputted into any model, process, or technology will have a meaningful impact on output,” explains Maritime Data’s Co-Founder James Littlejohn. "It is therefore essential for maritime technology companies to meaningfully evaluate all of their data inputs to ensure their solution provides the most accurate service for their customers." Tackling sourcing challenges Real-time data generated by the AIS is considered the X-axis for any evaluation of vessel operations The joint project has focused on tackling the challenges of acquiring the right AIS data arising from discrepancies in datasets offered by various vendors that make assessment and evaluation difficult for data buyers. Real-time data generated by the Automatic Identification System (AIS) is considered the X-axis for any evaluation of vessel operations and is a fundamental data layer for performance monitoring as it shows position, course, and speed, which can be combined with weather data to optimise operations, according to James Littlejohn. However, AIS is extremely data-heavy with hundreds of millions of data points being generated by thousands of vessels across the globe every day, which requires commensurately massive computational resources to ingest and analyse this data. New vendor evaluation protocol Under the joint project, Maritime Data conducted a comparative assessment of four leading AIS data providers using a new, specially developed evaluation protocol to ascertain the quality of their respective offerings based on carefully designed criteria. Maritime Data was able to take samples of a week of AIS data from each of the four providers and measure each dataset against various benchmarks provided by OrbitMI to help determine the coverage, accuracy and frequency of the respective feeds. A segment of these samples was then taken and split out over 80 different geolocations that were visualised as polygons on a map to show geographical coverage. Heavyweight analytics Independent validation of the supplier selection process enabled this to be conducted more quickly James Littlejohn points out that conducting this process of comparison and evaluation with such vast amounts of data would entail a lot of time and resources for a maritime technology firm such as OrbitMI, causing opportunity cost, while it took Maritime Data about a month to complete the analysis and this time is likely to be shortened in future as the process becomes more efficient. He says that independent validation of the supplier selection process enabled this to be conducted more quickly and without bias in favour of any one data vendor. “The outcome of the process was exactly as we expected and piloting this tool with OrbitMI has given us a springboard for further development and application of the selection protocol. This enabled OrbitMI to proceed with a decision on AIS sourcing secure in the knowledge that the data would fulfill the needs of its customers,” James Littlejohn says. Selecting the ideal AIS data provider At the end of the process, OrbitMI selected Lloyd's List Intelligence as its AIS data provider. “Lloyd's List Intelligence has been a long-time and valued partner of ours,” says Ali Riaz, OrbitMI's CEO. “The quality and versatility of their data offerings, assurances of data accuracy, customer service, and commitment to collaboration compared to the other offerings were unbeatable.” This decision aligns with Lloyd's List Intelligence's strategic vision for the industry. A collaborative, connected approach Tom Richmond, Head of Software & Technology Sales at Lloyd's List Intelligence, elaborates, “Working with innovators like OrbitMI is part of our strategic plan to help the shipping industry move beyond siloed thinking and kick-start a more collaborative, connected approach to integrating seaborne trade in the global supply chain." "We’re happy to support innovation with high-quality products at a price point that stimulates collaboration in the sector.” AIS data quality assurance OrbitMI’s David Levy concludes, “This project demonstrates we are prioritising data quality for our clients by harnessing the power of partnership with a major player." "The AIS data quality assurance process piloted by OrbitMI with Maritime Data will benefit users of the new Orbit platform by ensuring optimised and reliable data inputs covering the global fleet.”
Strengthening trade relations and promoting collaboration between Valenciaport and China. This is the objective with which the Port Authority of València has traveled to China to participate in the 8th edition of the Maritime Silk Road Port International Cooperation Forum 2024, held from June 26 to 28, 2024 in Ningbo (China). The value proposition of the Valencian enclosure as a green, intelligent and innovative HUB of the Mediterranean has been the common thread of the presentation of the PAV in this forum. Advantages of Valenciaport as a strategic port Mar Chao has also described the strategic importance of Valenciaport for the Chinese market During the event, Mar Chao, President of the PAV, had the opportunity to present the competitive advantages of Valenciaport as a strategic port in the center of the Mediterranean (through which 40% of Spanish import/export is channeled) at the service of the business fabric of its area of influence and a link in the logistics chain. Mar Chao has also described the strategic importance of Valenciaport for the Chinese market as a key point of direct connection with Europe that promotes a green growth, market-oriented, with maximum efficiency in services and a complete logistic and multimodal integration. Commercial capacity of Valenciaport During her conference, the President also highlighted the commercial capacity of Valenciaport, with an area of influence of more than 2,000 kilometres that maintains a direct relationship with the main international ports. Cristina Rodríguez, Head of Containers of Valenciaport, accompanies Chao in the forum. Both have held business meetings with Asian companies and institutions, including the new president of the Port of Ningbo, Tao Chengbo. In the framework of this meeting, the representatives of Valenciaport and the Port of Ningbo have signed a memorandum of understanding (MOU) with the aim of strengthening their commercial collaboration. Silk Road Port and Maritime Cooperation Forum The Silk Road Port and Maritime Cooperation Forum of Ningbo (China) in which Valenciaport participates is a platform for open exchange and mutual learning in port development and maritime transport, within the framework of the Belt and Road Initiative. From a respect for the uniqueness of each participating port, the Forum is seen as a tool to foster collaboration in various fields to build bridges between supply and demand in business, investment, technology, talent, information, ports and cultural exchange.
Rodman Polyships S.A.U., a Rodman Group shipyard specialised in the building of all types of GRP (Glass Fibre Reinforced Polyester) boats, has delivered a new professional boat to the Maritime Service of the Spanish Civil Guard. She is the new Rodman 66, a monohull, cabin type construction, with an aluminium hull and deck and a superstructure in glass fibre reinforced polyester (GRP) using hybrid multi-axial materials of aramid and E-glass and other synthetic and mineral fibres. New Rodman 66 all-weather patrol boat The new Rodman 66 is an all-weather patrol boat, specially designed to carry out patrol missions The new Rodman 66 is an all-weather patrol boat, specially designed to carry out patrol missions, anti-illegal immigration tasks, and protection of the marine environment, surveillance and anti-drug trafficking activities, as well as other specific duties of the Spanish Civil Guard. Main features of the new Rodman 66 patrol boat: With an overall length of 22 metres and a top speed of almost 44 knots, she has been created by the shipyard’s design, technical and engineering teams, perfectly combining high performance, reliability, building quality and seaworthiness. The propulsion consists of two MAN engines of 1,400 HP each and two Hamilton Waterjets. The boat can accommodate a maximum of 5 crew members, with two cabins. The accommodation is complete with galley, dining room, living area and complete toilet. Providing a range of more than 800 nautical miles, the new Rodman 66 offers great versatility in surveillance and intervention operations. Completing the equipment of the Rodman 66 patrol boat, we highlight a 4.5 m. TarpónPro tender and a deck crane for boat services. New model developed to meet specific needs This new model has been developed to meet the specific needs of the owner, in addition to the various technical and construction quality requirements of Rodman’s standard, optimising the safety and comfort of the crew and people on board. The construction of this new patrol boat model consolidates Rodman’s position as one of the world leaders in the construction of professional crafts. Boats and vessels built by Rodman recognised globally All the professional and leisure boats and vessels built by the shipyard are widely recognised and highly valued by the most demanding owners, as well as by organisations and governmental administrations all over the world.
Cochin Shipyard Limited (CSL), the premier shipbuilding and ship repair company in India, has delivered the 10th Electric Hybrid 100 Pax Water Metro Ferry BY 125 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 on behalf of their respective organisations. Both organisations worked closely towards the successful completion of this project, which contributes significantly to the sustainable development and modernisation of water transportation in Kochi, India. Electric Hybrid 100 Pax Water Metro Ferry BY 125 The Electric Hybrid 100 Pax Water Metro Ferry BY 125 is a state-of-the-art vessel The Electric Hybrid 100 Pax Water Metro Ferry BY 125 is a state-of-the-art vessel designed to provide efficient, eco-friendly, and convenient transportation options for the residents and visitors of Kochi. With a focus on sustainability and environmental responsibility, this ferry is equipped with electric hybrid technology, ensuring reduced emissions and minimised environmental impact. CSL and KMRL partner to advance India’s maritime capabilities By achieving the milestone of delivering the 10th Water Metro Ferry, CSL and KMRL have demonstrated their commitment to advancing the Nation's maritime capabilities, while prioritising eco-conscious transportation solutions. The collaboration between the two esteemed organisations is a testament to the potential for excellence within the Indian shipbuilding industry. CSL and KMRL officials conveyed their gratitude to all stakeholders, including DNV and IRS, for their support and partnership on the project.
Universal and equitable access to drinking water and adequate sanitation and hygiene services, as well as the improvement of water quality at a global level, are part of the Sustainable Development Goals of the 2030 Agenda for Sustainable Development, but they have also become part of a daily problem in many parts of the planet. Ingeteam, with its Indar submersible pumps and motors designed and manufactured in Beasain, Spain, contributes to solve part of this problem; and among the numerous applications for which the submersible pumps and motors are intended are desalination plants. Indar submersible pumps and motors installed In this context, the six pumps and their corresponding submersible motors have been installed in the desalination plants of Alicante I and San Pedro del Pinatar I, both belonging to the Commonwealth of the Taibilla Canals, and their main task will be to take the water to be desalinated from the sea and discharge it as drinking water to the primary water network of the region, which in the summer period has more than 3 million inhabitants. The desalination plants and their operation The Alicante I desalination plant is located in Aguamarga, in the municipality of Alicante, Spain The Alicante I desalination plant is located in Aguamarga, in the municipality of Alicante, Spain. It has a maximum production of 57,500 m³ of water per day and the treated water is fed into the New Alicante Canal (enlarged in 2006). In this installation, 2 Indar pumps manufactured by Ingeteam have been implemented with their respective motors. These water collection units will work in coastal vertical wells which usually have a high variability of water level. Seawater desalination plant using Ingeteam technology The second seawater desalination plant using Ingeteam technology is called San Pedro de Pinatar 1. It is designed to produce and supply the Commonwealth with a daily volume of up to 65,000 m³ of drinking water. The plant is located in the El Mojón area, near the Salinas and Arenales de San Pedro del Pinatar, in the Region of Murcia, Spain. The new units supplied will replace the 4 identical units supplied by the company in 2003. Stainless steel units supplied The 6 units for these desalination plants have been supplied to Ingeteam’s distributor, Juan Azcue, S.A., and are made of stainless steel, which is highly resistant to corrosion in aggressive environments, such as salinity, humidity, and acid or alkaline media. Both plants take the water from the vicinity and then proceed to its treatment. Thus, the process includes a seawater pretreatment that guarantees its optimal conditions (physical and chemical); desalination as such, which is carried out by means of membrane racks; and finally, a seawater post-treatment that guarantees compliance with the criteria established for water for human consumption by the regulations in force.
Spire Global, Inc. (‘Spire’ or ‘the Company’), a global provider of space-based data, analytics and space services, was selected by ESP Logistics Technology (‘ESP’), an internationally renowned company in supply chain productivity and sustainability, to provide wind data through its weather conditions API and real-time automatic identification system (AIS) vessel-tracking data. In the intricate supply chain industry, even the slightest disruption can lead to significant challenges and delays. This has led to a US$ 3.4 billion inventory optimisation, logistics, and visualisation and reporting market. ESP picks Spire’s comprehensive weather conditions API ESP also is utilising Spire’s AIS data to provide its clients with real-time tracking of their ships ESP Logistics Technology (ESP) has chosen Spire’s comprehensive weather conditions API to provide their helicopter customers with immediate, accurate wind data to make operational flight decisions. ESP also is utilising Spire’s AIS data to provide its clients with real-time tracking of their ships and estimated time of arrival at their destination, based on historical data of ships travelling similar routes. Enhancing supply chain efficiency “At ESP, we are committed to enhancing supply chain efficiency and ensuring our clients’ operations run smoothly,” said Jonathan Rosenthal, the Chief Executive Officer (CEO) of ESP, adding “With accurate wind data, our helicopter customers can optimise their flight operations, while real-time ship-tracking enables us to proactively manage deliveries, reducing delays and enhancing overall productivity.” He adds, “This collaboration with Spire reinforces our dedication to providing top-notch services and empowers us to make informed decisions in the face of the increasingly complex supply chain.”
The accuracy of AIS data used to track ship movements is vital for the analysis of vessel performance in areas such as fuel consumption. OrbitMI has therefore collaborated with Maritime Data on a joint project to enhance the screening of AIS data providers so it can deliver the best quality data for clients. Orbit vessel performance platform “We are continuously striving to optimise data inputs for users of our newly upgraded Orbit vessel performance platform to improve business decision-making." "With this goal in mind, we engaged Maritime Data as a trustworthy partner to contribute its specialist expertise in data procurement for the industry,” says OrbitMI’s Chief Marketing Officer David Levy. Assuring the quality of data inputs Maritime Data supports companies in the maritime ecosystem from concept to contract Maritime Data is a UK-based start-up founded in 2022 by Co-Founders Rory Proud and James Littlejohn with a mission to address the difficulties in sourcing, evaluating, and buying maritime data by acting as a specialised intermediary between buyer and supplier. As a data broker, Maritime Data supports companies in the maritime ecosystem from concept to contract. This enables clients to quickly understand all available solutions relevant to their requirements, evaluate comparable options, and contract with their suppliers of choice. All to minimise the effort required and give time back to the people building solutions needed to tackle the industry's biggest challenges. Buying data is made easier. Accurate customer service Backed by more than 15 years of experience in the sector, Maritime Data has built up an extensive partner network of over 50 maritime intelligence suppliers and 200-plus product offerings in areas such as vessel tracking, emissions calculation, seaborne cargo flows, risk and compliance, port activity, trade statistics, weather, and vessel ownership. “The quality of data being inputted into any model, process, or technology will have a meaningful impact on output,” explains Maritime Data’s Co-Founder James Littlejohn. "It is therefore essential for maritime technology companies to meaningfully evaluate all of their data inputs to ensure their solution provides the most accurate service for their customers." Tackling sourcing challenges Real-time data generated by the AIS is considered the X-axis for any evaluation of vessel operations The joint project has focused on tackling the challenges of acquiring the right AIS data arising from discrepancies in datasets offered by various vendors that make assessment and evaluation difficult for data buyers. Real-time data generated by the Automatic Identification System (AIS) is considered the X-axis for any evaluation of vessel operations and is a fundamental data layer for performance monitoring as it shows position, course, and speed, which can be combined with weather data to optimise operations, according to James Littlejohn. However, AIS is extremely data-heavy with hundreds of millions of data points being generated by thousands of vessels across the globe every day, which requires commensurately massive computational resources to ingest and analyse this data. New vendor evaluation protocol Under the joint project, Maritime Data conducted a comparative assessment of four leading AIS data providers using a new, specially developed evaluation protocol to ascertain the quality of their respective offerings based on carefully designed criteria. Maritime Data was able to take samples of a week of AIS data from each of the four providers and measure each dataset against various benchmarks provided by OrbitMI to help determine the coverage, accuracy and frequency of the respective feeds. A segment of these samples was then taken and split out over 80 different geolocations that were visualised as polygons on a map to show geographical coverage. Heavyweight analytics Independent validation of the supplier selection process enabled this to be conducted more quickly James Littlejohn points out that conducting this process of comparison and evaluation with such vast amounts of data would entail a lot of time and resources for a maritime technology firm such as OrbitMI, causing opportunity cost, while it took Maritime Data about a month to complete the analysis and this time is likely to be shortened in future as the process becomes more efficient. He says that independent validation of the supplier selection process enabled this to be conducted more quickly and without bias in favour of any one data vendor. “The outcome of the process was exactly as we expected and piloting this tool with OrbitMI has given us a springboard for further development and application of the selection protocol. This enabled OrbitMI to proceed with a decision on AIS sourcing secure in the knowledge that the data would fulfill the needs of its customers,” James Littlejohn says. Selecting the ideal AIS data provider At the end of the process, OrbitMI selected Lloyd's List Intelligence as its AIS data provider. “Lloyd's List Intelligence has been a long-time and valued partner of ours,” says Ali Riaz, OrbitMI's CEO. “The quality and versatility of their data offerings, assurances of data accuracy, customer service, and commitment to collaboration compared to the other offerings were unbeatable.” This decision aligns with Lloyd's List Intelligence's strategic vision for the industry. A collaborative, connected approach Tom Richmond, Head of Software & Technology Sales at Lloyd's List Intelligence, elaborates, “Working with innovators like OrbitMI is part of our strategic plan to help the shipping industry move beyond siloed thinking and kick-start a more collaborative, connected approach to integrating seaborne trade in the global supply chain." "We’re happy to support innovation with high-quality products at a price point that stimulates collaboration in the sector.” AIS data quality assurance OrbitMI’s David Levy concludes, “This project demonstrates we are prioritising data quality for our clients by harnessing the power of partnership with a major player." "The AIS data quality assurance process piloted by OrbitMI with Maritime Data will benefit users of the new Orbit platform by ensuring optimised and reliable data inputs covering the global fleet.”
Strengthening trade relations and promoting collaboration between Valenciaport and China. This is the objective with which the Port Authority of València has traveled to China to participate in the 8th edition of the Maritime Silk Road Port International Cooperation Forum 2024, held from June 26 to 28, 2024 in Ningbo (China). The value proposition of the Valencian enclosure as a green, intelligent and innovative HUB of the Mediterranean has been the common thread of the presentation of the PAV in this forum. Advantages of Valenciaport as a strategic port Mar Chao has also described the strategic importance of Valenciaport for the Chinese market During the event, Mar Chao, President of the PAV, had the opportunity to present the competitive advantages of Valenciaport as a strategic port in the center of the Mediterranean (through which 40% of Spanish import/export is channeled) at the service of the business fabric of its area of influence and a link in the logistics chain. Mar Chao has also described the strategic importance of Valenciaport for the Chinese market as a key point of direct connection with Europe that promotes a green growth, market-oriented, with maximum efficiency in services and a complete logistic and multimodal integration. Commercial capacity of Valenciaport During her conference, the President also highlighted the commercial capacity of Valenciaport, with an area of influence of more than 2,000 kilometres that maintains a direct relationship with the main international ports. Cristina Rodríguez, Head of Containers of Valenciaport, accompanies Chao in the forum. Both have held business meetings with Asian companies and institutions, including the new president of the Port of Ningbo, Tao Chengbo. In the framework of this meeting, the representatives of Valenciaport and the Port of Ningbo have signed a memorandum of understanding (MOU) with the aim of strengthening their commercial collaboration. Silk Road Port and Maritime Cooperation Forum The Silk Road Port and Maritime Cooperation Forum of Ningbo (China) in which Valenciaport participates is a platform for open exchange and mutual learning in port development and maritime transport, within the framework of the Belt and Road Initiative. From a respect for the uniqueness of each participating port, the Forum is seen as a tool to foster collaboration in various fields to build bridges between supply and demand in business, investment, technology, talent, information, ports and cultural exchange.
Rodman Polyships S.A.U., a Rodman Group shipyard specialised in the building of all types of GRP (Glass Fibre Reinforced Polyester) boats, has delivered a new professional boat to the Maritime Service of the Spanish Civil Guard. She is the new Rodman 66, a monohull, cabin type construction, with an aluminium hull and deck and a superstructure in glass fibre reinforced polyester (GRP) using hybrid multi-axial materials of aramid and E-glass and other synthetic and mineral fibres. New Rodman 66 all-weather patrol boat The new Rodman 66 is an all-weather patrol boat, specially designed to carry out patrol missions The new Rodman 66 is an all-weather patrol boat, specially designed to carry out patrol missions, anti-illegal immigration tasks, and protection of the marine environment, surveillance and anti-drug trafficking activities, as well as other specific duties of the Spanish Civil Guard. Main features of the new Rodman 66 patrol boat: With an overall length of 22 metres and a top speed of almost 44 knots, she has been created by the shipyard’s design, technical and engineering teams, perfectly combining high performance, reliability, building quality and seaworthiness. The propulsion consists of two MAN engines of 1,400 HP each and two Hamilton Waterjets. The boat can accommodate a maximum of 5 crew members, with two cabins. The accommodation is complete with galley, dining room, living area and complete toilet. Providing a range of more than 800 nautical miles, the new Rodman 66 offers great versatility in surveillance and intervention operations. Completing the equipment of the Rodman 66 patrol boat, we highlight a 4.5 m. TarpónPro tender and a deck crane for boat services. New model developed to meet specific needs This new model has been developed to meet the specific needs of the owner, in addition to the various technical and construction quality requirements of Rodman’s standard, optimising the safety and comfort of the crew and people on board. The construction of this new patrol boat model consolidates Rodman’s position as one of the world leaders in the construction of professional crafts. Boats and vessels built by Rodman recognised globally All the professional and leisure boats and vessels built by the shipyard are widely recognised and highly valued by the most demanding owners, as well as by organisations and governmental administrations all over the world.
