Finance - News

Babcock has been awarded a new five-year contract by the UK Ministry of Defence (MOD) to continue providing in-service support for the Royal Navy’s Ships Protective Systems (SPS) equipment. The contract consists of degaussing, cathodic protection, and active shaft grounding to ships and submarines, restricting the rate of hull corrosion and reducing their magnetic signature to make them less susceptible to magnetic mines. Babcock attains in-service support contract Babcock’s conti...

ERMA FIRST, a major sustainable maritime solutions provider, has become a signatory of the EU Mission Charter targeting the protection and restoration of regional waters by 2030. The Mission – one of five EU Missions within the Horizon Europe research and innovation programme – aims to 'protect and restore the health of the ocean and waters through research and innovation, citizen engagement and blue investments'. As a signatory to the Mission Charter, ERMA FIRST will attend the M...

Brunvoll has been chosen to deliver all propulsion, manoeuvring, and positioning systems for a 24-meter service vessel for aquaculture. The vessel is designed by NSK Ship Design and will be built at Havyard Leirvik for handover to ship owner - Nordlaks in 2025. For a vessel that will operate 24/7, it is vital to minimise overall noise and vibration, and the Brunvoll Low-Noise thruster was the preferred choice. Compact service vessel The new compact service vessel for aquaculture will become p...

DNV has quantified the gains that owners of liquefied natural gas (LNG) carriers could expect to achieve using the new Dual Fuel, Electric+ (DFE+) solution developed by ABB and MAN Energy Solutions. Comprising MAN’s four-stroke 49/60DF dual fuel engine and ABB’s Dynamic AC power distribution and control system, the solution has been developed to overcome efficiency challenges that are specific to the vessel type.  Machinery space requirements DNV’s Maritime Advisory as...

Babcock has been awarded a configuration management contract for the Royal Navy and the Royal Fleet Auxiliary surface ship fleet. The five-year contract, awarded by QinetiQ, on behalf of the Ministry of Defence (MOD), under the Aurora Engineering Delivery Partnership, will see us continue with the responsibility for the Surface Ship Definition Database (SSDD)–a tool for the management of platform-related data. Operation of the Master Record Data Centre (MRDC), the core facility for...

On January 30, 2024, PT Wintermar Offshore Marine Tbk entered a strategic venture through a 49% stake in SAVWIN Sdn Bhd with a Brunei-based partner. Through this partnership, Wintermar will have an advantage in tendering for longer-term contracts in Brunei which favour local content. Fast Multi-Purpose Supply Vessel Savwin Sdn Bhd will initially operate a Fast Multi-Purpose Supply Vessel which is currently on a long-term contract in Brunei until 2027. This initiative signifies the strategic e...

Global container shipping line Evergreen Marine Corporation (Evergreen) has signed a memorandum of agreement (MOA) with X-Press Feeders, the world’s largest independent common carrier, to place its containers on X-Press Feeders’ new dual-fuel green methanol vessels. X-Press Feeders is planning to run these vessels on green methanol and operate them within Europe. As one of the world’s largest container shipping companies and a key customer of X-Press Feeders, the agreement by...

  Boudewijn Siemons (59) has been appointed CEO of the Port of Rotterdam Authority effective 1 February 2024. He succeeds Allard Castelein, who took leave of the Port Authority last summer. Since then, Siemons has served as CEO on an interim basis in addition to his position as COO. The Executive Board of the Port Authority now consists of Boudewijn Siemons (CEO and interim COO) and Vivienne de Leeuw (CFO). The process of looking for a new COO has begun. Excellent abilities...

 Viasat, Inc., a global pioneer in satellite communications, announced Applied Satellite Technology (AST), a pioneering global innovator in satellite communication solutions, has joined its ELEVATE program. ELEVATE is a growth program, ecosystem and marketplace for ambitious IoT solution providers, connectivity wholesalers, enablers and OEMs who want to work with Viasat to use its network and footprint to scale. As an ELEVATE partner, AST will provide globally trusted connectivity solutions tha...

International charity, Mercy Ships returned to Madagascar to bring transformative surgical education and free, life-changing surgeries.   Freshly refitted hospital ship, the upgraded Africa Mercy® has arrived at the island nation to build on the charity’s long-standing collaboration and will provide specialised surgeries in various fields, including maxillofacial and ear nose and throat, general, pediatric specialised general, pediatric orthopedic, cataract surgery, and reconstru...

The first employees kicked off work for the New Energy Taskforce (NET) this January at the Port of Rotterdam, to support companies in tackling grid congestion. The Taskforce is led by Roger Knubben, who brings more than 25 years of experience in transition and strategy, including in the energy sector. New Energy Taskforce New Energy Taskforce is an initiative of the Port of Rotterdam Authority in collaboration with grid operators The New Energy Taskforce is an initiative of the Port of Rotte...

Babcock has been awarded a contract for additional work on the South Korean Navy’s submarine programme. The seven-year contract, awarded by Hanwha Ocean, is to manufacture and install the weapons handling launch system (WHLS) on Boat 6 of the Jangbogo-III class boat. Babcock secures WHLS contract Key elements of the WHLS will be designed and produced in the United Kingdom (UK) Boat 6, namely ‘Jangbogo-III Batch-II Boat 3’, along with the rest of the class, will use their pr...

Ireland’s largest bulk port Shannon Foynes and the port of Rotterdam – Europe’s largest port – have signed an agreement with a view to developing a supply-chain corridor for exporting green fuels into Europe produced from the west of Ireland’s limitless wind resource. The agreement will focus on market and trade development for vast volumes of green hydrogen and its derivatives produced at the planned international green energy hub on the Shannon Estuary. The Memor...

NIBCO INC. has announced the promotion of Lisa Lyon to Webstone general manager, with responsibility for overseeing all aspects of operations for the Webstone business unit of NIBCO. “Lisa has been instrumental in aggressively expanding the Webstone product portfolio since NIBCO acquired the company,” said Ashley Martin, president and COO, NIBCO. “She demonstrates great passion and knowledge for the industry, and we are confident that she will meet and exceed the goals establi...

P&I Club’s head of external affairs will discuss major events with pioneering experts in the weekly Alongside: Future Thinking podcast series. Pioneering P&I Club NorthStandard is launching a weekly podcast mini-series that will discuss the most pressing current geopolitical issues for the maritime industry. Key geopolitical developments NorthStandard Head of External Affairs, Mike Salthouse, will be hosting Alongside: Future Thinking, joined by experts from across the shipping...

Peel Ports Logistics has signed a deal to become renewable energy specialist Drax’s new shipping agency service provider for vessels importing biomass into Liverpool. The leading shipping and freight forwarder will support the arrival of all Drax’s ships from locations such as North America into the Port of Liverpool’s £100m biomass terminal. The renewable fuel is then transported to Drax Power Station, near Selby in North Yorkshire, the UK’s single largest genera...

The year 2024 marks a milestone in the acceleration of digitalisation in shipping – the mandatory ‘Maritime Single Window’. The requirement under the Convention on Facilitation of International Maritime Traffic (FAL) requires Governments to use a single digital platform or ‘Maritime Single Window’ to share and exchange information with ships when they call at ports, since 1 January 2024. This will streamline procedures to clear the arrival, stay and departure of s...

As of 1 March, Hanna Stelzel will take on the role of Director Containers within the Commercial Department of the Port of Rotterdam Authority and is responsible for all activities within the container chain at sea, in the port and in the hinterland. Hanna Stelzel is the successor to Hans Nagtegaal. Stelzel has a background in the German automotive industry, logistics and digitalisation. She has worked at the Port of Rotterdam Authority since 2018 and has held various positions in which she made...

Pacific International Lines (PIL), SGTraDex, and KPI OceanConnect have achieved a significant milestone by completing full integration for worldwide transactions via the SGTraDex platform. Pacific International Lines (PIL) has successfully completed full integration with the Singapore Trade Data Exchange (SGTraDex) platform, making PIL the first shipping line to do so. This achievement, realised through a collaborative effort with KPI OceanConnect, signifies a transformative step towards global...

Last year, maritime shipping bunkered significantly less fuel in Rotterdam; 9.9 million tonnes in 2023 compared to 10.6 million tonnes in 2022. With that, the demand for fuel oil, marine gas oil and other fuels in 2023 was 6.7 percent lower than in 2022. Only bunkering of LNG (liquefied natural gas) rose significantly, from 406,599 m3 to 619,243 m3. This had everything to do with developments in the price of LNG. Biomethanol bunkered for first time on Laura Maersk The decline is mainly caused...

A major provider of secure maritime data communications software, GTMaritime, has responded to growing demand for its products and services, by opening an office in Greece and appointing two new executives to its sales team. In 2023, the company reported a 35% increase in monthly user traffic across its portfolio of software solutions between 1 November 2022 and 31 October 2023. It also announced its 15,000th ship installation – just 16 months after passing the 10,000-vessel milestone. N...

Peel Ports Group has strengthened its global container operations with the appointment of a new strategic commercial director. Marcus Connolly joins the port operator with more than 25 years of experience in international container shipping and logistics, having held roles at A.P. Moller–Maersk and NYSHEX.  Based at the Port of Liverpool, Marcus will be responsible for developing transformational growth opportunities through group-wide strategic partnerships as well as further develo...

NorthStandard has announced plans to open a new office in South Korea, one year after establishing its combined Asia Pacific headquarters in Singapore.  The new Seoul office, initially to be staffed by Shang Doe Shim, a Claims Director currently based in the club’s Singapore office, will be operational from late Spring 2024. Asia's 8th office This will be NorthStandard’s eighth office in the Asia Pacific region, underlining the importance of the area to the club.  N...

ClassNK has issued an Approval in Principle (AiP) for a maritime hydrogen fuel cell system developed by YANMAR Power Technology Co., Ltd. (YANMAR PT). This is the first AiP certification for a maritime hydrogen fuel cell system developed by a Japanese manufacturer. Hydrogen fuel cells are gaining attention as a potential means to help reduce GHG emissions from shipping. Meanwhile, due to the unique characteristics of hydrogen, distinct from conventional gas fuels, safety discussions are activel...

DNV has been selected to class ship owner - Purus’ new building order of two Very Large Ethane Carriers (VLEC). The vessels have been contracted at HD Hyundai Heavy Industries (HHI) in South Korea and are scheduled for delivery in 2026-2027. EEDI Phase III compliant With a cargo carrying capacity of 98,000 cbm, the two VLECs will be fitted with GTT’s Mark III membrane containment system. The vessels will be equipped with dual-fuel ethane engines and optimised cargo handling syste...

In Port Vauban, Antibes, lying between Cannes and Nice on the French Riviera, the Quai des Milliardaires – ‘Billionaires’ Quay’ – has undergone an extensive transformation, consolidating its position as the leading yachting hub in the Mediterranean. A paradise for yachting and super yachting enthusiasts, Port Vauban is Europe's largest yachting harbour, with over 1,500 berths and 18 superyacht berths of up to 160 metres.  Appearance and infrastructure Since...

The hull of yard number 318, the first of two newbuild Construction Service Operation Vessels (CSOVs) for the Olympics, has arrived at the outfitting yard - Ulstein Verft AS in Norway.  The hull will be positioned in the dock hall, after which the outfitting work starts. Outfitting work "The general outfitting work in the months ahead consists of accommodation work, electrical installations, piping, and mechanical installations, to name a few," says Helge Torvik, Project Manager at Ulste...

  Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, held a christening and launch ceremony for a salvage tug currently being built for Nippon Salvage Co., Ltd. The ceremony took place at the Enoura Plant of MHI's Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture. The vessel, named "Koyo Maru", is scheduled for handover to Nippon Salvage in June 2024 following the completion of outfitting work and sea tr...

Peel Ports Group has become the first port operator to join the British Retail Consortium (BRC) to strengthen its relationships with retailers. The UK’s second largest port operator has joined the BRC as an associate member and will utilise its membership to communicate directly and engage with beneficial cargo owners (BCOs). Series of webinars Peel Ports will also host a series of webinars for BRC members to provide greater insight into the pivotal role ports play in improving supp...

Accelleron has signed an agreement with HD Hyundai Marine Solution (HD HMS) that simplifies access to its digital turbocharger optimisation solutions for vessels built or serviced by the world’s biggest shipbuilder, HD Korea Shipbuilding & Offshore Engineering. As part of the agreement, Accelleron’s Turbo Insights performance analytics platform will be integrated into HD HMS’s Integrated Smartship System (ISS), with further digital solutions also deliverable through ISS o...