Finance - News

Ocean Network Express and Yusen Logistics Co., Ltd are pleased to announce a new agreement for sustainable shipping solutions through ONE's green shipping service, ONE LEAF+.  This collaboration demonstrates how the industry can advance sustainable supply chain practices and marine transportation to deliver environmental benefits. Scope 3 GHG emissions As a freight forwarder, Yusen Logistics will offer this green shipping option to customers Under this agreement, ONE will use susta...

Smaller shipowners seeking expansion, as well as multinational corporations entering the maritime industry for the first time, often encounter a shared challenge: the complexities of the market frequently exceed their own expertise and that of the advisors they typically consult. However, what may be a perceived obstacle to maritime business development has become a catalyst for growth within Wallem Group, manifested in the success of Wallem Commercial Services. Range of capabilities Wallem...

Nor-Shipping has announced that the main theme for its 60th anniversary exhibition and activity programme will be #Future-proof. Taking place in Oslo and Lillestrøm, Norway, 2-6 June 2025, Nor-Shipping is now working with key stakeholders to tailor content and deliver opportunities that support decision-makers as they face a rapidly evolving industry landscape. Organisers have also confirmed that the exhibition space is already 85% sold out for what promises to be 'both a memorable and c...

Nor-Shipping is promising the global maritime and ocean industries 'a bigger, bolder, better' exhibition and activity programme than ever before in Norway next year, with expansion and new initiatives to serve and support ambitious business developments. These include more exhibition space, greater international involvement, fresh networking opportunities, and a conference programme expanded to encompass Seabed Minerals, LNG and finance (Ocean Invest). Relevance and leadership The event week,...

The International Maritime Cyber Security Organisation (IMCSO), an independent maritime standards organisation, has released its cybersecurity testing methodology for those maritime vessels looking to assess their risk and join the Cyber Risk Registry, a risk register database maintained by the IMCSO. The methodology aims to provide IMCSO-accredited cyber consultants and the senior maritime personnel they will be assessing with standardised testing by outlining test scope and the language...

The push towards decarbonisation is slowing down rather than speeding up. With ambitious global goals looming ever larger on the horizon, what can we do to re-invigorate collective efforts? And profit from that push?  Ahead of next year’s Nor-Shipping, Knut Ørbeck-Nilssen, CEO Maritime DNV, says efficiency, timing and people are critical to 'getting this show on the road'. Given the subject matter today, Knut Ørbeck-Nilssen seems remarkably optimistic. “I’m...

Watson Farley & Williams (WFW) and Hogan Lovells jointly advised on three separate greenship financing transactions with an aggregate value of US$1.5bn+. All three transactions, one of which was secured by Chinese ECA Sinosure, were carried out by the Green Loan Principles of the Loan Market Association. WFW advised arrangers, financing banks, and green loan arrangers, with Hogan Lovells acting for Hapag-Lloyd. Capacity expansions In October 2024, Hapag-Lloyd signed two orders for a total...

The TMS Ship Finance and Trade Conference will be held on February 18th at the Taj Exotica Resort on the Palm, Dubai and several top-quality speakers have now been confirmed as the exciting conference programme takes shape.  The overall theme of the conference will be ‘Financing green shipping solutions.’  Keynote presentations Proceedings will get underway with keynote presentations by two industry figures, Dr. Ibrahim Al Nadhairi, CEO of ASYAD Shipping, and Capt. Ammar...

Ocean Network Express (ONE) and LX Pantos are pleased to announce the successful completion of their joint venture, Boxlinks LLC (Boxlinks). This strategic partnership will leverage the combined strengths of ONE and LX Pantos to provide end-to-end domestic intermodal transportation services, utilising both companies’ partnerships with major rail carriers and trucking companies to provide efficient and timely delivery of cargo in the United States. Customised service Hiroki Tsujii, Globa...

Middle East ceasefire and Lunar New Year will see ocean container freight rates fall further in February - with carriers now taking action to slow the market decline. Latest data from Xeneta – the ocean and air freight intelligence platform – shows average spot rates from the Far East stand at USD 3 795 per FEU (40ft container) into North Europe and USD 5 085 per FEU into the Mediterranean – down 22% and 13% respectively since 1 January. Falling spot rates  Early data s...

The World Shipping Council welcomes the balance between sustainability and competitiveness struck in the European Commission’s Competitiveness Compass released that will form the basis for the EU’s Clean Industrial Deal.  WSC, however, called on the Commission to recognise that liner shipping is investing in Europe and urged the Commission to support the sector on its path to decarbonise supply chains, fostering open trade and protecting critical sea lanes...

Kongsberg Maritime is proud to announce its selection as the lead integrator for a significant green upgrade of the Norwegian Coastal Administration's (NCA) hybrid vessel, OV Bøkfjord. The project will include the installation of Kongsberg Maritime's electric Rim-Drive azimuth thrusters, together with an upgrade of hybrid capacity. Pilotage and navigation technology The NCA is a national agency under the Ministry of Trade, Industry, and Fisheries, responsible for coastal mana...

Watson Farley & Williams (WFW) advised HSBC UK on the financing of Bibby Marine’s previously announced zero-emission electric commissioning service operation vessel.  HSBC UK’s pre- and post-delivery facility was supported by Cesce, the Spanish Export Credit Agency, with HSBC acting as sole ECA coordinator, facility agent, and mandated lead arranger.  Battery technology The vessel, to be built at Astilleros Armon in Vigo, Spain, incorporates pioneering battery techno...

Vestdavit has achieved a new sales record for the third successive year as its order intake hit an all-time high of Nkr380m in 2024, fuelled by increased davit orders from its core naval market, as well as the offshore energy sector. New sales record "It has been another fantastic year," says Vestdavit’s Sales and Business Development Director - Tarjei Isaksen. Tarjei Isaksen adds, "The significant orders boost was achieved despite a transition in our Sales & Marketing department th...

Hefring Marine, a globally renowned provider of intelligent maritime solutions, is proud to announce the expansion of its collaboration with the Norwegian Society for Sea Rescue (Redningsselskapet). Following a rigorous two-year competitive selection process, Hefring Marine’s IMAS system has been chosen to be equipped on Redningsselskapet’s entire fleet, further strengthening Norway’s search and rescue capabilities. Hefring Marine’s IMAS prototype This agreement marks...

According to new research on cybersecurity in the energy sector, energy companies are taking cyber threats seriously at the highest levels. Two in three energy professionals (65%) say their leadership views cybersecurity as the greatest current risk to their business. More than two-thirds of energy professionals (71%) expect their company to increase investment in cybersecurity this year.  Cybersecurity According to the latest Energy Cyber Priority report from DNV Cyber, energy companies...

Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, announced that it raised $56 million in venture financing, bringing the total raised since inception to more than $270 million. The round was co-led by existing investor - Aramco Ventures and new investor - SV Investment.  Additional new investors Additional new investors participating in the round include Samsung Heavy Industries, BHP Ventures, Hanwha Investment & Securities, AFW Partners, Quantum Ventu...

The Coast Guard Foundation, a non-profit organisation committed to strengthening the Coast Guard community and service by supporting members and families, extends its heartfelt appreciation to its 2024 Anchor Sponsors for their remarkable generosity. Anchor Sponsors make an annual commitment to the Foundation at leadership levels that play an integral role in supporting Coast Guard members and families who serve the nation. Coast Guard Foundation’s mission The Foundation is proud to re...

A new era of offshore operations has begun with the successful delivery of REACH REMOTE 1, a 24-metre unmanned surface vessel (USV) designed by Kongsberg Maritime. This ground-breaking achievement marks a significant milestone through collaboration between Kongsberg Maritime, REACH SUBSEA ASA, Massterly, and Trosvik Maritime. Intensive sea trials Designed to revolutionise offshore operations, the REACH REMOTE 1 is packed with cutting-edge KONGSBERG technology. Its delivery foll...

The Maritime Standard announces that the Ship Finance and Trade Conference 2025 will take place on Tuesday, 18th February 2025, at the Taj Exotica Resort, The Palm, Dubai, United Arab Emirates (UAE). This prestigious event will gather global leaders, financial experts, and key stakeholders from the maritime industry to discuss innovative financial strategies and sustainable solutions that will shape the future of ship finance and trade. ‘Financing Green Shipping Solutions’ The the...

The Northern Lighthouse Board’s new vessel, POLE STAR, currently under construction at GONDAN Shipbuilders, Castropol, Asturias, Spain, was launched on 14 January 2025. The vessel successfully left the slipway and entered the Ria del Eo before being towed to a berth at the shipyard. Safety service to mariners Phil Day, Director of Operations with the Northern Lighthouse Board (NLB), said: "This is a momentous occasion for the shipyard and for NLB. To see the vessel successfully launch i...

Scienco/FAST, along with UniBallast, B.V. based in Rotterdam, The Netherlands, proudly announces the launch of the portable InTankFITT® Container, a containerised version of its revolutionary filterless Ballast Water Treatment System (BWTS), InTank®. InTankFITT® Container Designed to address the growing regulatory and operational challenges in ballast water management, this solution represents a major advancement in maritime technology. Compact and Portable Design: The container...

Watson Farley & Williams (WFW) advised the Eurazeo Sustainable Maritime Infrastructure ('ESMI') fund on a sale and lease back transaction to be entered into with Mainport Shipping Ltd ('Mainport') for the pre- and post-delivery lease financing of the hybrid survey and ROV support vessel - 'Geo Master'. The vessel is currently under construction at Neptune Construction B.V., a shipyard in the Netherlands. Supporting the growing European offshore wind market, the vessel is scheduled for deliv...

Strikes at ports on the US East Coast and Gulf Coast, which would have caused an economic and supply chain crisis, have been called off – with ocean container freight rate growth now expected to slow or fall. The strikes were set to begin on 15 January and would have forced the closure of ports from Maine to Texas. This has now been averted after a tentative agreement over a new six-year master contract was reached between the International Longshoremen’s Association (ILA), which re...

Norwegian Cruise Line Holdings Ltd. has announced a new leadership structure to execute on its multibillion-dollar fleet expansion for its ultra-premium and luxury cruise brands. Jason Montague has been appointed Chief Luxury Officer for NCLH, effective February 17, 2025, overseeing both Regent Seven Seas Cruises and Oceania Cruises, capitalising on his extensive industry expertise and strong track record previously pioneering these brands. This appointment underscores NCLH’s focus on it...

Guy Hindley has been appointed as the new Chairman of the Baltic Exchange Council, with effect from 1 January 2025, following the leadership of Lord Jeffrey Mountevans who has held the position for the past two years. Guy Hindley, who has served on the Baltic Exchange Council since January 2019, has a long and distinguished career in the maritime sector, including his role as Managing Partner of Dry Cargo division at Howe Robinson, where he has been a key figure since for nearly four decades.&n...

Watson Farley & Williams (WFW) advised Höegh Evi Ltd. (Höegh Evi) on the acquisition of a 50% stake in its shareholder Larus Holding (Larus) by funds managed by Igneo Infrastructure Partners (Igneo). Transaction details Larus, which is the 100% owner of Höegh Evi, is currently jointly 50/50 owned by Aequitas Limited (a holding company of the Høegh Family who will retain their existing stake) and funds managed by Morgan Stanley Infrastructure Partners.  The trans...

Rolls-Royce held a successful F130 engine Critical Design Review (CDR), clearing the way for final development, test, and production efforts to proceed and taking another step towards delivering the upgraded B-52J to the United States Air Force. This milestone is the culmination of over two years of detailed design work and close collaboration between teams at Rolls-Royce, the Air Force and Boeing. The engine testing program is on track to begin altitude testing in February 2025 at the U.S. Air...

Watson Farley & Williams (“WFW”) has advised Genesis Energias, S.A (“Genesis”) on the chartering of the ‘BILBAO KNUTSEN’, which shall be used as an LNG floating storage unit (“FSU”) for the loading, storage and discharging of LNG, as part of an LNG-to-power project in Honduras. The ‘BILBAO KNUTSEN’ is an LNG carrier built in 2004 and owned by Norway’s Knutsen Group. The vessel is to be converted into an FSU for the project by...

In a ceremony in Rauma, Finland, Damen Shipyards Group and Kongsberg Maritime celebrated the delivery of the 1500th Kongsberg azimuth thruster to Damen, in a relationship spanning more than 40 years. This latest delivery continues the supply of azimuth thrusters for Damen’s wide range of tug designs, operating for its customers in ports across the world. Thruster number 1500 is one of a pair that will be installed on a Damen ASD Tug 2813, currently under construction at Damen Song Cam Shi...