Finance - News

Swiss marine power company - WinGD has secured further orders for its ammonia-fuelled X-DF-A engine design in the growing ammonia carrier market. The engines, to be built at Yuchai Marine Power Co, will be delivered for a total of seven 25,000m3 and 41,000m3 LPG/ammonia carriers ordered by Tianjin Southwest Shipping. The vessels will deploy 5- and 6-cylinder versions of the 52-bore X-DF-A engines and are scheduled to enter service from Q3 2026. New orders The new orders highlight WinGD’...

The International BoatBuilders’ Exhibition and Conference (IBEX), North America’s premier trade event for the recreational marine industry, has acquired Professional BoatBuilder magazine (ProBoat), the marine sector’s renowned technical publication and online information source.  The ProBoat purchase promises to marry the vitality of IBEX’s live trade event to the magazine’s depth of editorial coverage, creating an unparalleled platform for technical education...

In a remarkable endeavour to celebrate and revive India’s ancient maritime legacy, the Stitched Ship Project is recreating a 4th-century common-era vessel using traditional shipbuilding techniques. The initiative, led by the Ministry of Culture in collaboration with the Indian Navy, M/s Hodi Innovations, and other stakeholders, draws inspiration from historical references, such as Ajanta murals and ancient texts. Modern safety and design This project embodies India's long-standing conne...

Eco Wave Power Global AB (“Eco Wave Power” or the “Company”), a global provider of onshore wave energy technology, is pleased to announce it has received the final Nationwide Permit (NWP) from the U.S. Army Corps of Engineers for its ground-breaking wave energy project at AltaSea’s premises at the Port of Los Angeles. This milestone marks a significant step forward in the development of Eco Wave Power’s pioneering wave energy project, which is set to become t...

At 5.8 million TEU, container throughput at the Port of Hamburg remained at almost the same level year-on-year during the first nine months of 2024. Throughput of loaded containers saw slight growth, alongside an increase in general cargo. “Rail forwarding, a cornerstone of sustainable transport, also developed positively in the first nine months. As Europe’s largest rail port, we attach great importance to the expansion of rail transport. Container transport in this segment rose...

Hamburger Hafen und Logistik Aktiengesellschaft (HHLA AG) will continue to be majority-owned by the City of Hamburg and will be further developed together with the new major shareholder Mediterranean Shipping Company, the world's largest container shipping company. Following the approval of the Hamburg parliament and the EU Commission, all closing conditions have now been met with the approval of the Ukrainian merger control authority. Shares in HHLA AG The Free and Hanseatic City of Hamburg...

Babcock are pleased to have joined the UK manufacturers’ trade association, Made in Britain. As a world-renowned manufacturer producing a range of defence equipment across the UK, partnering with the 2,100 UK manufacturers in the Made in Britain community will bring them closer to the long-term goal of ensuring the UK has a robust sovereign defence capability. Social and economic sustainability British Army has the vehicles and weapons it needs or carry out the deep care of nuclear su...

Procureship, provider of the world’s major digital e-procurement platform for the maritime sector, has reaffirmed its position in the Asia-Pacific region with the announcement that Gary Yeow is to lead the company’s Singapore office. Establishing strong partnerships With over a decade of experience in the maritime sector, including roles at Sembawang Shipyard, Sembcorp Marine, and VesselMan, Gary will play a pivotal role in expanding Procureship’s client base and establishing...

Kpler, a data and analytics platform for trade intelligence announced its acquisition of Spire Maritime, a prominent provider of satellite-powered data for real-time global vessel tracking. This strategic move aims to enhance Kpler’s maritime coverage and deliver unmatched insights into global vessel movements and shipping logistics. Real-time visibility and analytics Mark Cunningham, CEO of Kpler, emphasised the impact of this acquisition, “By acquiring Spire Maritime, we will ma...

ABS Wavesight has partnered with Noble Corporation, an offshore drilling contractor, to revolutionise its recordkeeping practices by adopting ABS Wavesight eLogs™ electronic logbooks on its entire fleet of offshore assets. This collaboration marks a major milestone for the offshore adoption of ABS Wavesight eLogs, a secure digital solution that succeeds paper logbooks, bringing a new dimension to compliance management in the maritime and offshore sectors. ABS Wavesight eLogs ABS Wavesig...

Ahlsell Danmark ApS, through its subsidiary KJV A/S, has signed an agreement to acquire all shares in Herning Industri Lager A/S. Going forward; the company will become part of the industrial specialist - KJV A/S. Through this acquisition, the position and offering in the Danish industrial sector are strengthened. Herning Industri Lager A/S Herning Industri Lager A/S sells tools, fasteners, transmissions, machines, and other technical assortments to industrial companies in central Jylland. Th...

ERMA FIRST GROUP has successfully completed the acquisition of Ecochlor, in a move that reinforces its position as a trusted provider of ballast water treatment and advanced decarbonisation solutions. Broadening the range of ultra-efficient ballast water treatment systems (BWTS), future-proof decarbonisation solutions, and related services under the ERMA FIRST GROUP umbrella, the acquisition consolidates the company’s status as one of the world’s largest BWTS providers. Marine ecos...

A new report published by DNV reveals that the majority (61%) of maritime professionals believe the industry should accept increased cyber risk from digitalisation, if it enables innovation and new technologies. The sector’s appetite to take on emerging risks arising from digital transformation is notably higher than other critical infrastructure industries including energy, manufacturing, and healthcare.  Cybersecurity risk The industry’s increasing appetite for cyber risk c...

Oceania Cruises, the world's renowned culinary- and destination-focused cruise line, has unveiled the second swathe of its 2026 Collection of Voyages which are available to book from November 13, 2024. Travelers can choose from more than 60 new enticing itineraries, including 17 Grand Voyages, across the Caribbean, Asia, Africa, Mediterranean, and Northern Europe, aboard three of Oceania Cruises' smallest ships, Nautica, Regatta, and Sirena, which carry just 670 guests each. Oceania Cruises&rs...

Strategic Marine is delighted to announce the signing of a significant contract with Mainprize Offshore for the construction of six state-of-the-art Supa Swath vessels, with an option for an additional six vessels. Memorandum of Understanding This agreement follows the Memorandum of Understanding (MoU) signed at Seawork in June, Europe’s largest on-water commercial marine and workboat exhibition and the recent deliveries of MO10 & MO 11, the latest additions to the Mainprize fleet ea...

Global safety solutions provider - VIKING Life-Saving Equipment and firefighting systems supplier - FAIN Co., Ltd. have signed an exclusive worldwide agreement for VIKING to provide certified services for marine fire systems and equipment delivered and installed by FAIN. FAIN supplies the full spectrum of firefighting systems for marine use, including CO2, foam, DP, water mist, sprinkler, alternative gases, and more. Headquartered in Yangsan, South Korea, the company is a major supplier to ship...

Maritime industry pioneers from the U.S. and Canada traveled to ABS’ World Headquarters to discuss the latest marine market trends in emerging ammonia, hydrogen, and carbon economies, offshore renewables, and nuclear energy. Cutting-edge academic research, technology, and sustainability initiatives were also highlighted at the annual ABS North America Regional Committee. Safety and high performance "We believe there is a high correlation between organisations who embrace safety and high...

Wärtsilä Gas Solutions, part of technology group - Wärtsilä, will supply Nordic energy company - Gasum with biogas upgrading and liquefaction solutions for their new bioLNG plant. The plant will produce high-quality bioLNG from agricultural and organic household waste. The order was booked by Wärtsilä in Q4 2024. When operational, the Wärtsilä offering will be capable of producing 25 tons of bioLNG per day. bioLNG is formed by purifying biogas to high-qua...

Peters & May Commercial, also Commercial Marine Transport (CMT), a provider of global commercial shipping and logistics solutions, is proud to announce the launch of its new, dedicated website. This launch comes in recognition of the commercial department's substantial growth since Peters & May first invested in the sector in 2016, aiming to better the customer experience and showcase its service offerings. New website Offering a tailored platform for all commercial clients and prospe...

Chevron Marine Lubricants, a subsidiary of Chevron Corporation, has further extended its global supply capacity to include Port Elizabeth, South Africa. This expansion notably enhances the company’s ability to serve vessels taking the longer route to avoid current conflict areas. It also represents a strategically important addition to Chevron’s distribution network in the southern region. Customer service and supply The expansion has been made possible through close collaboration...

Longstanding marine power solutions expert, Fischer Panda UK has recently enhanced its portfolio with the latest power technology innovation from Integrel Solutions. Integrel Solutions’ system, an advanced e-power system for the marine sector, revolutionises the way vessels are powered, offering an efficient and environmentally friendly alternative to traditional power sources. Range of marine applications This solution is ideal for a wide range of marine applications, including leisure...

Lloyd’s List has been the trusted source for news and intelligence about the global shipping industry for nearly 300 years. Now its award-winning journalism and expert analysis are available instantly, anywhere, with the launch of the new Lloyd’s List App.  Available on the App Store for iOS users and Google Play store for Android devices, the new Lloyd’s List App has a suite of customisable features to keep users connected to the trends, issues and events that matter in...

In a strategic move to become a complete service provider while enhancing the level of support delivered to the crane, marine, and offshore industries, lifting solutions specialist - Hendrik Veder Group UK has announced a new cooperation with an England-based load test expert.  New regional service This new agreement will see the Scottish branch of Hendrik Veder Group UK diversify its output by offering a new regional service for the longstanding firm, via the distribution and l...

Global HR, payroll, and crew management software specialist - Adonis, under the Ripple Operations brand, has entered into a strategic marketing partnership with Certus Online, a globally renowned provider of maritime booking and operational solutions, to enhance their combined service offerings for the maritime industry. The agreement marks a significant step towards providing seamless, integrated solutions for maritime operators. Adonis’ HR systems Certus Online’s Booking Platfor...

Ocean Network Express (ONE) released the financial result for FY2024 2nd Quarter (from July 2024 to September 2024). The revenue for FY2024 2nd quarter was USD 5,864 million, up 65% from the same quarter of the last year, with a net profit of USD 1,999 million (YoY +USD 1,812 million). The Asia-North America and Asia-Europe trades have experienced strong demand, driven by consistent consumer demand and an early peak season in July and August. In addition, early shipments in the North Ameri...

Cummins Inc., a global pioneer in power solutions, will exhibit its latest marine technologies at the International Workboat Show 2024, in New Orleans, from November 12-14, 2024.  QSK38 EPA Tier 4 solution Visitors to Booth 3001 will have the opportunity to examine the QSK38 EPA Tier 4 solution, designed with repower flexibility in mind.  This innovative engine provides clean power in a compact package, leveraging trusted technology that operators can depend on for their fleet. Dur...

Technology group - Wärtsilä has introduced its innovative NextDF feature for the Wärtsilä 25DF dual-fuel engine. While operating on liquefied natural gas (LNG), the NextDF feature reduces methane emissions to less than two percent of fuel use across all load points, achieving as low as 1.1 percent in a wide load range. What’s more, the nitrogen oxide (NOx) emissions are lower than on the standard Wärtsilä 25DF engine, which already has low emission levels bel...

MacGregor, part of Cargotec, has launched a new free-of-charge digital Carbon Calculator to help container shipping companies estimate the carbon dioxide emissions they can eliminate by upgrading their onboard container cargo system with MacGregor Cargo Boost. Cargo Boost solution By maximising container-carrying capacity on board existing ships, the Cargo Boost solution has been shown to increase average cargo system utilisation from conventional rates of 80% to 90%, or even 100%. Across a 1...

In a significant step towards establishing eco-friendly maritime practices, South Korea successfully conducted its first Simultaneous Operations (SIMOPs) of ship-to-ship methanol bunkering at Busan New Port on 4th October. This groundbreaking achievement marks a crucial advancement in the nation's commitment to developing a sustainable ship fuel supply chain. Key highlights First-ever SIMOPs methanol bunkering in South Korea. 11-hour operation supplying approximately 3,000 tons of methanol...

The Baltic Exchange has launched a Know-Your-Customer (KYC) platform to give the maritime sector greater access to company data to support informed decision-making and meet increased regulatory obligations. KYC platform KYC is a regulatory requirement in the banking and financial services sectors to ensure businesses do their due diligence on customers to prevent fraud, money laundering, and terrorism financing. With shipping a vital part of global commerce, the need to manage the risk of fra...