Finance - News

Global ferry and port operator, Stena Line has signed a significant deal with Peel Ports Group, a major UK port operator, to operate from Heysham Port for the next 77 years until 2100. The Swedish ferry company runs a twice-daily freight service from Belfast-Heysham providing a vital trade corridor between Northern Ireland and the rest of the UK. 12 Quays Terminal The collaborative agreement demonstrates the strong working partnership between the two organisations and seeks to further strengt...

Global resin-applications specialist - Bolidt has signed an exclusivity agreement with long-standing customer, Chantiers de l’Atlantique, covering all of the French shipyard’s newbuild cruise vessels – in addition to several navy ships, and offshore projects – until 2027. The joint undertaking is the latest in a 32-year relationship that has so far seen Bolidt supply its decking systems to around 100 Chantiers de l’Atlantique-built vessels–primarily cruise sh...

COSCO Shipping Technology has become the latest company to join the international autonomous shipping association, as One Sea continues to expand its geographical footprint following a period of significant growth in 2023. COSCO Shipping Technology, a subsidiary of COSCO Shipping Group, one of the largest shipping and logistics companies in the world, is the sixth company to join One Sea this year. Bringing a wealth of knowledge and experience in the development of autonomous shipping technolog...

At Peel Ports Group, working closely with major cargo owners and shipping lines to find a solution which addresses a long-standing UK cargo flow distribution challenge. The efficient movement of goods is the lifeblood of any economy, and in the UK, the distribution of freight plays a crucial role in sustaining supply chains. However, the unequal distribution of freight by sea across the country poses significant challenges to both efficiency and sustainability. UK’s general productiv...

The northern German ports are constantly expanding their rail connections. It is set to become the means of transport of the future. In the Port of Hamburg, a good half of all hinterland transport is already carried by rail. Last year, 47.3 million tonnes of cargo weight were transported by rail. At the same time, the importance of rail as a climate-friendly means of transport is also growing in other seaports. The growing demand is increasingly becoming a major challenge for the railways, as c...

Accelleron and Web Aruba N.V., the public utility and water company for Aruba, have signed a 10 year customised Turbo LifecycleCare™ service agreement. This agreement provides for the maintenance and predictable budgeting of Web Aruba’s 32 turbochargers installed on single and dual fuel stroke engines.   A public signing between the companies took place on November 8th, 2023 with Aruba’s Minister of Labor, Energy and Integration, Glenbert Croes, attending. Power generat...

Technology group - Wärtsilä will supply an integrated hybrid propulsion solution for three new self-discharging cargo vessels being built at the Royal Bodewes shipyard in the Netherlands for Norwegian shipowner - Aasen Shipping. As part of the solution, the ships will feature the latest addition to Wärtsilä’s engine portfolio, the Wärtsilä 25, which was launched in September 2022. The engines and vessel are prepared for operation on sustainable fuels in the f...

Hempel A/S is a first mover within the paints and coatings industry, sharing carbon footprint data on its Product Data Sheets. Hempel provides Sustainability Product Scorecards to support customers in delivering on their sustainability commitments. Hempel is committed to supporting its customers on their sustainability journeys, and as part of its Double Impact strategy, aims to hold sustainability leadership positions in its chosen segments. By providing sustainability data alongside its solut...

ClassNK has released the latest ‘ClassNK Technical Journal’, which has been published for contributing to the advancement of technology and society through the outcome of R&D and technical activities. The latest issue, ‘ClassNK Technical Journal No.8 2023 (II)’ features “Trends and Initiatives toward Reduction of GHG”. ‘ClassNK Technical Journal’ The new issue, ‘ClassNK Technical Journal’ covers an overview of IMO/EU GHG related...

A major programme of repairs is underway at the iconic breakwater at South Gare after the structure suffered serious damage in the face of extraordinary sea conditions during Storm Babet. Concrete slabs weighing up to 50 tonnes were ‘tossed about like pebbles’ during Storm Babet in October, as the breakwater took the brunt of fierce winds and waves which reached several metres high. PD Ports, as Statutory Harbour Authority for Teesport and the Port of Hartlepool, with responsib...

Accelleron welcomed the 100th customer for its running hours-based service agreement for four-stroke engine turbochargers, Turbo LifecycleCare in November 2023. More than 2,000 turbochargers supporting main or auxiliary engines across maritime and land-based power generation applications are covered by the unique agreement structure, which was established in 2017 to deliver predictable maintenance costs and reduced risk for operators. Turbo LifecycleCare agreement Turbo LifecycleCare agreemen...

WEG announced to its shareholders and the general market that, as approved at an extraordinary meeting of the Board of Directors held on December 07, 2023, and following the succession plan of its Executive Team established, as from March 31, 2024, the following movements will be implemented: Within the succession planning, structured and conducted by the Board of Directors with the support of renowned consultancies, Mr. Harry Schmelzer Júnior will leave the position of Chief Executi...

WEG announced to its shareholders and the general market that, as approved at an extraordinary meeting of the Board of Directors held on December 07, 2023, and following the succession plan of its Executive Team established, as from March 31, 2024, the following movements will be implemented: Within the succession planning, structured and conducted by the Board of Directors with the support of renowned consultancies, Mr. Harry Schmelzer Júnior will leave the position of Chief Executi...

At the 28th United Nations Climate Change Conference, the Maritime and Port Authority of Singapore (MPA), Port of Long Beach and Port of Los Angeles unveiled a Partnership Strategy for a green and digital shipping corridor across the Pacific Ocean.  The scope of cooperation and success indicators specified in the strategy reaffirms the corridor partners’ commitment to drive global action to digitalise and decarbonise the shipping industry and improve efficiencies. Green and digital...

The former Head of Supply Chain for national retailer - B&M has joined Peel Ports Group to further strengthen its relationships with importers.  Jerome Wildsmith has more than 30 years of logistics experience working with cargo owners, including time with pioneering retailers Matalan, Mamas & Papas, and Regatta.  Responsibilities Based within the Port of Liverpool’s container division, his new role will be to drive container volumes and leverage the port...

ABB has secured a contract with Auckland Transport (AT) to deliver the maritime world’s first megawatt charging system (MCS) to recharge electric ferries using the same interface as trucks and aeroplanes. Lowering the barrier to entry, the standardised and highly adaptable system is expected to improve electric vessel competitiveness against fossil-fueled counterparts. As part of its Mission Electric initiative, AT has ordered two 200-seat all-electric ferries and two 300-passenger hybri...

Pacific International Lines (PIL) and DP World have signed a Memorandum of Understanding (MoU) to jointly develop green solutions to decarbonise global supply chains. The agreement pairs DP World, which handles around 10% of the world’s container trade, and PIL, a major Singapore-based shipping company. By leveraging each other’s strengths and expertise, the companies can help to accelerate progress towards their common target of net zero GHG emissions. Pacific International Lines...

At COP28, partners and donors involved in the Blue Mediterranean Partnership reinforced their support for developing a sustainable blue economy in the southern Mediterranean region. The parties involved signed a letter of intent to make their participation in the Partnership official and to make the Partnership operational in early 2024. Blue Mediterranean Partnership The Blue Mediterranean Partnership aims to tackle the threats the Mediterranean Sea faces by coordinating the financing of blu...

At the Marintec China exhibition, DNV awarded two Approval in Principle (AiP) certificates to Dalian Shipbuilding Industry Co., Ltd. (DSIC) for the design of a 50,000cbm floating liquefied CO2 (LCO2) storage and injection unit (FSIU) and a 20,000cbm LCO2 carrier. The AiPs confirm the general feasibility of the conceptual designs as reviewed by DNV. They follow earlier projects by the shipyard, such as the design development of the world’s first 7,500cbm LCO2 tanker currently under constru...

By popular demand, Maritime Week Africa (MWAF24) returns to Cape Town, South Africa, in January 2024 for its 16th edition, after a hugely successful event in January this year, which broke all previous attendance records.  Maritime Week Africa, the longest-running and most popular bunkering event on the African continent, will bring together the highest-level industry and government speakers to deliver an information-packed conference focussed on the uniquely diverse African shipping, ener...

Gas shipping company - Anthony Veder has extended its turbocharger service agreement with Accelleron, securing Turbo LifecycleCare support across 13 vessels. The contract, covering 20 turbochargers on single-fuel and LNG dual-fuel four-stroke engines, builds on a service relationship that began in 2017 with four vessels. Gas carriers Anthony Veder operates a fleet of innovative small-scale and mid-size gas carriers, including Coral Methane, the first multi-gas carrier to be converted into an...

A fleet of 33 new human-operated, zero-emissions battery-electric yard tractors were officially unveiled Wednesday at a Port of Long Beach container terminal where the cargo-handling machines have replaced traditional gasoline and diesel-powered models. START project The deployment–the largest of its kind on the West Coast–was led by terminal operator SSA Terminals LLC, a joint venture between SSA Marine and Matson Navigation Company. It is partially funded by a $50 million grant f...

The Assembly of the International Maritime Organization (IMO) has elected the Members of its Council for the 2024-2025 biennium. The Council is the executive organ of IMO and is responsible, under the Assembly, for supervising the work of the organisation. Between sessions of the Assembly, the Council performs the functions of the Assembly, except that of making recommendations to Governments on maritime safety and pollution prevention. The Assembly of IMO elects Members of its Council The As...

The International Maritime Organization (IMO) and the European Commission (EC) have announced a second phase of the Global Maritime Technology Cooperation Centres Network (GMN) project, to upscale the work of the five regional centres, with a particular emphasis on pilot demonstrations aimed at achieving quantifiable reductions in GHG emissions. IMO Secretary-General - Kitack Lim and representatives of the European Commission (EC) formalized the agreement at IMO Headquarters (on 29 November), d...

The first three (3) ships in the series of eight Anti-Submarine Warfare Shallow Water Crafts under construction in Cochin Shipyard Limited (CSL) for Indian Navy were launched at CSL’s Kochi Yard. After the ceremonial pooja, the first vessel was launched by Smt Anjali Bahl - the second vessel was launched by Smt Kangana Berry, and the third vessel by Smt Zarine Lord Singh. Anti-Submarine Warfare Shallow Water Crafts The launching of the three (3) vessels was carried out in the presence o...

NorthStandard’s Strike & Delay class has introduced Weather Cover into its suite of risks, providing shipowners and charterers with the first-ever marine insurance protection to mitigate the threat posed to ships solely by adverse weather conditions. The global marine insurer has responded to market needs with a groundbreaking marine insurance product that offers up to eight days of cover against the risks of a ship being delayed in or outside a port due to bad weather, as part of its...

Andrew Mueller has joined Crowley as vice president of government relations where he will be pioneering the company’s activities at the federal level with members of Congress and the Administration. His leadership will strengthen the company’s advocacy for laws, policies, and regulations that support the comprehensive array of Crowley’s business strategy and growth. Mueller's experience Mueller joins Crowley with more than 20 years of in-depth experience in federal a...

At Hamburger Hafen und Logistik AG’s (HHLA) Container Terminal - Altenwerder in Hamburg, the AGV fleet is now fully battery-powered. With this step, HHLA has continued its efforts to gradually replace the last vehicles running on fossil fuels with battery-powered alternatives. In the fourth quarter of 2023, CTA decommissioned the last diesel-powered container transporter (automated guided vehicle – AGV). From now on, the new AGV fleet consists of 95 battery-powered vehicles that run...

Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, Japan, has held a christening and handover ceremony for a demonstration test ship to transport liquefied carbon dioxide (LCO2). The ship will be used for the ‘CCUS R&D and Demonstration Related Project / Large-scale CCUS Demonstration in Tomakomai / Demonstration Project on CO2 Transportation’ (the demonstration projects) being conducted by Japan’s New Energy and Industr...

Babcock has signed a Memorandum of Understanding (MoU) with Hanwha Aerospace to offer enhanced capabilities across land, air and sea domains, by bringing together the companies’ combined skills through a collaborative range of products, services and integrated solutions. Under the agreement, which was signed during the President of Korea’s recent visit to the United Kingdom (UK), the companies will work together to pursue global business development opportunities, with an initial fo...