Finance

Watson Farley & Williams (WFW) advised Globus Maritime Limited on their US$ 28 million sale and leaseback of newbuild bulk carrier m.v GLBS MIGHT with a Japanese leasing house. This is Globus' first sale and leaseback transaction, with the US$ 28 million being made available under a ten-year capital sale & leaseback arrangement. Athens-based Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide with a current fleet of eight dry bulk vessels comprising four Kamsarmax, one Supramax and three Ultramax vessels. It is listed on the Nasdaq Capital Market. WFW Athens Maritime team The WFW Athens Maritime team that advised Globus Maritime was led by Partner - Vassiliki Georgopoulos, supported by Counsel - Georgia Asimakopoulos and Associates - Angelos Michas and Stavroula Giannopoulou. Vassiliki Georgopoulos commented: "We are delighted to have acted for Globus on its first ever sale and leaseback transaction. This deal highlights our team’s unrivalled ability to deliver high quality legal services to our clients on complex matters."

The WG20 S is the perfect combination of the efficiency of helical gears and the cost-effectiveness of worm drive gearboxes. It is compact and features a modern and functional design, saving space and producing low noise levels. A complete solution that carries WEG’s reliability and quality, already recognised in the WG20 gearmotor line. Available in five sizes and reaching torque from 125 to 1,600 Nm, it has standard dimensions for total interchangeability. In addition, it offers versatility and a high transmission ratio in a single gearbox. WEG innovation The flexibility of the WG20 S line stands out due to the variety of output shaft options, such as solid shaft, hollow shaft with key, hollow shaft with shrink disc and Easylock. Furthermore, it offers mounting through the housing, torque arm and flange. Those options allow for versatile mounting according to the equipment requirements. Check out this WEG innovation, the newest line of gearboxes developed with the company's needs in mind.

Watson Farley & Williams (“WFW”) advised Industrial Bank Financial Leasing Co., Ltd. (“CIBFL”) on a leasing transaction for two liquified natural gas carriers. Upon delivery, the vessels will be bareboat chartered to a disponent-owner and sub-chartered to a Middle East charterer on a long-term basis. Delivery of the vessels Unlike conventional sale and leaseback transactions where the lessors enter into Memorandum of Agreements (“MOAs”) with the lessees and take delivery of the vessels pursuant to the MOAs, CIBFL entered into the shipbuilding contracts with the Korean shipyard and will take delivery of the vessels as purchasers under the shipbuilding contracts. In addition to advising CIBFL on the terms and conditions of the conventional leasing documents, WFW negotiated on their behalf for bespoke direct agreements to supplement the shipbuilding contracts. Important LNG leasing transaction CIBFL, a subsidiary of Industrial Bank Co., Ltd., provides direct financial leasing, leaseback, supplier leasing and other leasing services. They also service customers in the energy, modern service, chemical, equipment manufacturing and other sectors. The WFW Hong Kong Assets Structured and Finance team that advised CIBFL was led by Partner - Guan Jian, supported by Associate Catherine Tse and Legal Manager - Sean Feng.  Lead Partner - Guan Jian commented: "We are delighted to have advised CIBFL on this important LNG leasing transaction which represent an important a step towards promoting clean energy and sustainability within the shipping sector. The successful completion of the transaction highlights our team’s expertise in handling unconventional leasing transactions."

Saggas and Valenciaport have signed a memorandum of understanding to collaborate in the identification of innovation and development projects linked to renewable gases and CO2. The agreement was signed by Rosa María Prieto, President of Saggas, and Mar Chao, President of the Port Authority of València (PAV). Through this memorandum, Saggas and the PAV undertake to work together to identify innovation projects to accelerate the development of storage, generation and logistics solutions associated with the use of different renewable gases (hydrogen, BioGNL, etc.) in their different states, as well as CO2, so that they can benefit from synergies with the process carried out at the Sagunto regasification plant. Decarbonisation of maritime-port sector The aim of this collaboration is to meet the decarbonisation needs of the maritime-port sector, the logistics chain and its hinterland, and to guarantee compliance with the requirements of the European Green Pact and specific regulations such as the Fuel Maritime initiative and the regulation on the infrastructures needed for alternative fuels (AFIR), among others. The signing of this memorandum is part of Saggas’ interest in participating in projects in the renewable gas and CO2 infrastructure sector, as well as in the energy transition plan promoted by the PAV.

WEG has achieved, for the second consecutive year, the Gold seal in the EcoVadis assessment. This year’s performance was even better, placing the company among the 2% best enterprises evaluated globally. This rating highlights WEG's dedication to sustainability, showcasing its performance in environmental care, ethics, human rights, and responsible supply chain management. With a focus on innovative solutions, WEG reaffirms its commitment to contributing to a more efficient and responsible future.

New Corsican 130 MW power plant to feature 8 × MAN 18V51/60 engines optimised to run on 100% liquid biomass fuel of plant origin. A consortium comprising MAN Energy Solutions and EPC (Engineering Procurement and Construction) specialist, Bonatti, has signed a contract with EDF PEI – a 100% subsidiary of EDF (Électricité de France SA) that builds and operates power-generation facilities in the French overseas departments and regions, and Corsica. The contract covers the construction and maintenance of a new power plant at Ricanto, near Ajaccio, which will replace the aging Le Vazzio plant in late 2027/early 2028. Optimum performance and efficiency The contract covers the construction and maintenance of a new power plant at Ricanto, near Ajaccio The plant will be equipped with 8 × MAN 18V51/60 engines and have a total capacity of 130 MW with which to supply the Corsican power grid. Speaking at the contract-signing ceremony on September 6th 2024, Uwe Lauber – CEO of MAN Energy Solutions – said: “We are proud to be involved in this project with Bonatti, which will help reduce CO2 emissions from power generation in Corsica. The Ricanto power plant will play an essential role in guaranteeing Corsica's energy security while significantly minimising its ecological impact. MAN 18V51/60 engines are specially designed to accommodate running on liquid biomass with optimum performance and efficiency.” Additionally, MAN PrimeServ – the after-sales brand of MAN Energy Solutions that already provides maintenance for several, existing EDF-PEI power plants – will provide maintenance for 25 years for the future Ricanto bioenergy plant. The long-term service agreement includes provision for spare parts, major maintenance, technical services and training modules for EDF-PEI personnel.

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. 

The terms under the new Building Safety Act 2022 start to become enforceable from October 1st, 2023. Here, Bob Glendenning, Fire Design Engineering Manager of Sherwin-Williams Protective & Marine Coatings, looks at how early engagement can help engineers and those in the supply chain negotiate their way through the challenges it presents. New Building Safety Act 2022 The new 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 at least two domestic premises.  These new regulations require 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 Principal Accountable Person is described as the organisation or person who owns or has responsibility for building 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.  Engaging multiple stakeholders is key  At Sherwin-Williams, our policy of early engagement and collaboration between all parties aims to clarify any points upfront before they become a problem with the subsequent knock-on effect on time and cost.  It is proven that 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. Digital information about safety Working together, we share knowledge and help our clients reach their goals Working together, we share knowledge and help our clients reach their goals, after all, we are all now part of this renewed responsibility. We want to help our customers capture relevant data on the use of our intumescent coatings so that they can provide information digitally on safety and quality to their customers. This information also provides a sound basis for future decision-making. Golden Thread The Golden Thread will be a digital record of all aspects of the fire protection installed, including application records, theoretical product thickness, data sheets, and anything relevant relating to the steel's fire protection provision. By following the requirements as set out in the Golden Thread, those involved can be assured that they are creating a safe, efficient building. Under the terms of the act, the term competence is a core requirement. As part of this part of the act, the BSR has introduced an Industry Competency Committee whose role will be to monitor and improve industry competence. This will be done by regularly publishing guidance and advice available to the industry. The three Gateways provide evidence  All three gateways are important from the outset to completion and occupation so that end users can be assured The Golden Thread runs through what is known as three gateways of the process. All three gateways are important 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 in particular ‘safety critical’ components.  Detailed understanding of different parts For the protection of structural steel with intumescent coatings, the different parts of the engineering community and the supply chain will need to understand more detail about certain gateways than others. For example, structural engineers, designers, and specifiers will be more concerned with the requirements under gateways one and parts of two.  Applicators will need to understand parts of Gateway Two and Gateway Three, while fabricators will need to understand the wider picture across all three gateways.  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. 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.  Gateway 2 – submitting building control approval to the Regulator to enable construction to start. 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 fulfilment of certain requirements.  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.  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 the all-important information for the Golden Thread has been handed over to the accountable person should also be declared. We all have a responsibility  The information required for the Golden Thread needs to be accurate, easily understandable, up-to-date, readily accessible 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. Remember, the information required for the Golden Thread needs to be accurate, easily understandable, up-to-date, readily accessible, and in a digital format. Commitment to best practice We should emphasise 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 being accurate if we at Sherwin-Williams are to provide guidance.  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.

Global transportation networks are becoming increasingly interconnected, with digital systems playing a crucial role in ensuring the smooth operation of ports and supply chains. However, this reliance on technology can also create vulnerabilities, as demonstrated by the recent ransomware attack on Nagoya Port. As Japan's busiest shipping hub, the port's operations were brought to a standstill for two days, highlighting the potential for significant disruption to national economies and supply chains.  Transportation sector  The attack began with the port's legacy computer system, which handles shipping containers, being knocked offline. This forced the port to halt the handling of shipping containers that arrived at the terminal, effectively disrupting the flow of goods. The incident was a stark reminder of the risks associated with the convergence of information technology (IT) and operational technology (OT) in ports and other critical infrastructures.  This is not an isolated incident, but part of a broader trend of escalating cyber threats targeting critical infrastructure. The transportation sector must respond by bolstering its defences, enhancing its cyber resilience, and proactively countering these threats. The safety and efficiency of our transportation infrastructure, and by extension our global economy, depend on it.  Rising threat to port security and supply chains  XIoT, from sensors on shipping containers to automatic cranes, are vital to trendy port functions OT, once isolated from networked systems, is now increasingly interconnected. This integration has expanded the attack surface for threat actors. A single breach in a port's OT systems can cause significant disruption, halting the movement of containers and impacting the flow of goods. This is not a hypothetical scenario, but a reality that has been demonstrated in recent cyberattacks on major ports.  Adding another layer of complexity is the extended Internet of Things (XIoT), an umbrella term for all cyber-physical systems. XIoT devices, from sensors on shipping containers to automated cranes, are now integral to modern port operations. These devices are delivering safer, more efficient automated vehicles, facilitating geo-fencing for improved logistics, and providing vehicle health data for predictive maintenance. XIoT ecosystem  However, the XIoT ecosystem also presents new cybersecurity risks. Each connected device is a potential entry point for cybercriminals, and the interconnected nature of these devices means that an attack on one, which can move laterally and can have a ripple effect throughout the system.  The threat landscape is evolving, with cybercriminals becoming more sophisticated and their attacks more damaging with a business continuity focus. The growing interconnectivity between OT and XIoT in port operations and supply chains is also presenting these threat actors with a greater attack surface. Many older OT systems were never designed to be connected in this way and are unlikely to be equipped to deal with modern cyber threats. Furthermore, the increasing digitisation of ports and supply chains has led to a surge in the volume of data being generated and processed. This data, if not properly secured, can be a goldmine for cybercriminals. The potential for data breaches adds another dimension to the cybersecurity challenges facing the transportation sector.  Role of cyber resilience in protecting service availability  Cyber resilience refers to organisation's ability to prepare for, respond to, and recover from threats As the threats to port security and supply chains become increasingly complex, the concept of cyber resilience takes on a new level of importance. Cyber resilience refers to an organisation's ability to prepare for, respond to, and recover from cyber threats. It goes beyond traditional cybersecurity measures, focusing not just on preventing attacks, but also on minimising the impact of attacks that do occur and ensuring a quick recovery.  In the context of port operations and supply chains, cyber resilience is crucial. The interconnected nature of these systems means that a cyberattack can have far-reaching effects, disrupting operations not just at the targeted port, but also at other ports and throughout the supply chain. A resilient system is one that can withstand such an attack and quickly restore normal operations. Port operations and supply chains The growing reliance on OT and the XIoT in port operations and supply chains presents unique challenges for cyber resilience. OT systems control physical processes and are often critical to safety and service availability. A breach in an OT system can have immediate and potentially catastrophic physical consequences. Similarly, XIoT devices are often embedded in critical infrastructure and can be difficult to patch or update, making them vulnerable to attacks.  Building cyber resilience in these systems requires a multi-faceted approach. It involves implementing robust security measures, such as strong access controls and network segmentation, to prevent attacks. It also involves continuous monitoring and detection to identify and respond to threats as they occur. But perhaps most importantly, it involves planning and preparation for the inevitable breaches that will occur, ensuring that when they do, the impact is minimised, and normal operations can be quickly restored.  Building resilience across port security and supply chains   In the face of cyber threats, the transport sector must adopt a complete method of cybersecurity In the face of escalating cyber threats, the transportation sector must adopt a comprehensive approach to cybersecurity. This involves not just implementing robust security measures, but also fostering a culture of cybersecurity awareness and compliance throughout the organisation.  A key component of a comprehensive cybersecurity strategy is strong access controls. This involves ensuring that only authorised individuals have access to sensitive data and systems. It also involves implementing multi-factor authentication and regularly reviewing and updating access permissions. Strong access controls can prevent unauthorised access to systems and data, reducing the risk of both internal and external threats. Network segmentation Network segmentation is another crucial measure. By dividing a network into separate segments, organisations can limit the spread of a cyberattack within their network. This can prevent an attack on one part of the network from affecting the entire system. Network segmentation also makes it easier to monitor and control the flow of data within the network, further enhancing security.  Regular vulnerability assessments and patch management are also essential. Vulnerability assessments involve identifying and evaluating potential security weaknesses in the system, while patch management involves regularly updating and patching software to fix these vulnerabilities. These measures can help organisations stay ahead of cybercriminals and reduce the risk of exploitation.  EU’s NIS2 Directive EU’s NIS2 Directive came into effect, and member states have until October 2024 to put it into law The transportation sector must also be prepared for greater legislative responsibility in the near future. The EU’s NIS2 Directive recently came into effect, and member states have until October 2024 to put it into law. The Directive aims to increase the overall level of cyber preparedness by mandating capabilities such as Computer Security Incident Response Teams (CSIRTs). Transport is among the sectors labelled as essential by the bill, meaning it will face a high level of scrutiny. Getting to grips with the complexities of XIoT and OT integration will be essential for organisations to achieve compliance and avoid fines. Global transportation infrastructure Finally, organisations must prepare for the inevitable breaches that will occur. This involves developing an incident response plan that outlines the steps to be taken in the event of a breach. It also involves regularly testing and updating this plan to ensure its effectiveness. A well-prepared organisation can respond quickly and effectively to a breach, minimising its impact and ensuring a quick recovery.  In conclusion, mastering transportation cybersecurity requires a comprehensive, proactive approach. It involves implementing robust technical measures, fostering a culture of cybersecurity awareness, and preparing for the inevitable breaches that will occur. By taking these steps, organisations can enhance their cyber resilience, protect their critical operations, and ensure the security of our global transportation infrastructure.

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.

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.”