Finance - News

Ports of Stockholm is building six new rooftop solar cell systems that will increase the company's own solar electricity production by 55 percent. This is fully aligned with the company’s and the City of Stockholm’s goals and strategies. Ports of Stockholm has taken an investment decision in June to increase the company's own production of solar electricity. This decision means expanding the number of solar cell system installations to increase internal solar electricity produc...

FPSO Sepetiba, SBM Offshore’s third Fast4Ward® FPSO, sailed away on June 16, 2023, from the BOMESC shipyard, China, after the successful completion of the topsides integration and onshore commissioning phases. The FPSO has commenced its transit to the Mero field in the Santos Basin offshore Brazil, located 180 kilometres offshore of Rio de Janeiro. SBM Offshore has a contract with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba....

Following the completion of the investment screening process, Hamburger Hafen und Logistik AG (HHLA) and COSCO Shipping Ports Limited (CSPL) have signed the agreement for CSPL’s minority shareholding in Container Terminal Tollerort (CTT). This agreement provides CSPL with an interest of 24.99% in HHLA’s Container Terminal Tollerort in Hamburg. CTT will now be developed into a preferred handling location for HHLA’s long-term customer COSCO, where freight flows between Asia an...

SmartLoC, a pioneering German start-up specialising in B2B payment solutions based on IoT data derived from direct monitoring of shipments, is thrilled to announce its recent victory in winning the highly esteemed 2023 Physical Internet Start-up Award. This accolade recognises SmartLoC's groundbreaking contributions to the field of supply chain innovation, solidifying its position as a trailblazer in revolutionising the B2B payment sector. The Physical Internet Start-up Award, bestowed annually...

After the summer, the consortium Hakkers, Van Oord and De Klerk will start construction of the tugboat quay in the Yangtzekanaal. To this end, contracts were signed with the Port of Rotterdam Authority. It involves 500 metres of quay wall, offering twelve berths. The construction of the tugboat quay is part of the "Widening Yangtzekanaal" programme. Completion is scheduled for spring 2025.   The choice of this consortium is in line with the Port Authority’s commitment to s...

They are delighted to announce their new leadership team structure. Following the significant growth and global expansion of Waves Group, the new structure will ensure that they continue to develop and best deliver their services to the clients whilst supporting and developing the dedicated team. Leadership team structure With immediate effect, the Waves Group Board of Directors is: Dennis Kelly becomes Executive Chairman, with responsibility for overall Company performance, their global o...

Global law firm - Norton Rose Fulbright has advised a committee of secured creditors on the first-of-its-kind restructuring of international shipping company - Vroon, which was completed on 12 June 2023. Parallel restructuring  This was the first restructuring to be carried out using a parallel English scheme of arrangement and the Dutch WHOA plan. This restructuring involved certain lenders receiving participations in a new syndicated secured facility, while other lenders had their faci...

WE Tech Solutions, a renowned provider of energy efficiency solutions for the global shipping industry, has announced a new partnership with Marine 2-Stroke Consultant and Service GmbH (MTCS), who will represent WE Tech Solutions in Germany, Belgium, and the Netherlands. This strategic agreement is aimed at expanding WE Tech Solutions’ market reach in the region and accelerating the advancement of environmental sustainability in the shipping industry. WE Tech Solutions and MTCS partnersh...

The 33 Signatories, which disclose the climate alignment of their chartering activity for 2022, account for more than 17% of total bulk cargo transported by sea over the year. Their average reporting rate has increased since last year to 90%. It is important to highlight, that it is not possible to compare the scores of individual Signatories to one another for several reasons: Signatories have different portfolios, different ship types and different numbers of voyages. Furthermore, the Signato...

Italdraghe SpA announced that the company will be presenting at the Electric & Hybrid Marine Expo 2023, the world’s renowned technology expo for marine electrification, decarbonisation, future fuels and hybridisation. Visitors can interact with the Italdraghe SpA team, who will be present at Stand 1309, Hall 8, at RAI Amsterdam, located in Amsterdam, the Netherlands, from June 20 to June 22, 2023.

Ecomar Propulsion has agreed to their third partnership agreement at Nor-Shipping 2023 - with Swiss hydrogen fuel cell specialists - EH Group Engineering AG. The partnership will see the partners integrating a series of new innovations into 200 kW+ marinised fuel cells. The partners aim to rationalise complexity and use a new series of control strategies for the seamless integration of fuel cells into Ecomar Propulsion’s zero-emission marine powertrains. Transition to clean propulsion P...

Nor-Shipping 2023 proved to be one of those 'you had to be there' moments. From the second the bell rang at Oslo Stock Exchange on Monday morning, announcing the beginning of 2023's packed programme, through to the final delegates leaving the Lillestrøm exhibition centre on Friday afternoon, Nor-Shipping 2023 delivered on every expectation. A record turnout at the exhibition, big names at the conferences, and a social scene that basked in unbroken sunshine created, in the words...

Korean Register (KR) has awarded an Approval in Principle (AIP) to HD Hyundai Heavy Industries (HD HHI) for a new type of tank shape designed for various liquefied gases and fuels. The announcement was made during Nor-Shipping 2023 in Oslo, Norway on 8 June, 2023. The new tank shape, developed by HD HHI, is designed to improve safety and productivity. The new tank shape aims to address the challenge of sloshing that impacts the transportation of liquefied gases, such as LNG. Sloshing refers to...

Remota AS, the joint venture between DeepOcean, Solstad Offshore, and Østensjø Group has signed a letter of intent (LOI) with Hyke (Hydrolift Smart City Ferries) to develop remote operations capabilities for Hyke’s ferries.  Under the LOI, Remota will support Hyke in the development of the remote operations capability of its electric and autonomous water shuttles. The LOI includes provisions for control technology and the interface between Hyke’s water shuttles an...

"To supercharge the green shift, we need a clear zero-emissions target by 2050, a market-based levy on CO2 emissions, and an improved set of efficiency measures, and as our industry’s global regulator, the IMO is the body to do it and fast. We no longer have the luxury of time," writes Norwegian Shipowners’ Association (NSA) CEO, Harald Solberg. He adds, "In the wake of this year’s Nor-Shipping, it was clear to me in all the conversations I had both on and off the record that...

Norwegian Cruise Line Holdings Ltd. (‘NCLH’ or the ‘Company’), a global cruise company that operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, has welcomed cruise industry veteran Patrik Dahlgren as the Company’s new Executive Vice President (EVP), Vessel Operations. Patrik Dahlgren will oversee marine and technical operations, hotel operations, entertainment, cruise programs and security across NCLH’s three brands, repo...

SeaDrone has announced the SeaDrone MINI, the latest in their line of single-man portable subsea ROVs. The SeaDrone MINI is a professional ROV for users of all experience levels. Realise major productivity gains with a system that can carry and deploy in minutes.  Maximise uptime with easy-to-service modular components. Dive fast using SeaDrone's Top Gun mode and operate in 3-knot cross-current. The MINI's control system actively stabilises the vehicle and allows to capture of crisp a...

A newly minted integration between maritime software supplier OrbitMI and data-driven communication platform Sedna is intended to ease the time-consuming process of handling voyage information in multiple emails by creating “intelligent connected workflows”, with Stena Bulk being the first to adopt the innovative solution. While there is increasing adoption of digital applications in shipping, current ways of working mean vital vessel data remains siloed in disconnected software pla...

The next major international boat show takes everyone to Amsterdam, Netherlands. From 20 June to 22 June 2023, AS Labruna will be present at the Electric & Hybrid Marine Expo 2023, the world's largest exhibition dedicated to marine electrification and hybrid propulsion. AS Labruna at Electric & Hybrid Marine Expo 2023 AS Labruna will be bringing their E-vision hybrid engines to the Netherlands AS Labruna will be bringing their E-vision hybrid engines to the Netherlands for the Electr...

Babcock Canada (Babcock), a globally renowned company in submarine support, has signed a Technical Cooperation Agreement with HD Hyundai Heavy Industries Co., Ltd (HD HHI) to collaborate on the Canadian Patrol Submarine Project (CPSP). The CPSP was established by the Canadian Department of National Defence to research procurement options for its next generation submarine. Babcock and HD HHI sign Technical Cooperation Agreement Babcock is a global expert in maintaining, modifying, and extendin...

Mersey Maritime, a regional cluster organisation for the North West maritime sector, is pleased to announce the appointment of Ruth Wood as their Interim Chief Executive Officer, effective 1st July 2023. Ruth Wood will be stepping-up to the role, following the departure of current Chief Executive Officer (CEO), Chris Shirling-Rooke who will be leaving Mersey Maritime to take up the position of Chief Executive of Maritime UK. Extensive maritime industry experience Ruth Wood has over 15 years&r...

Classification society - DNV has awarded the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping in collaboration with Nordic Green Ammonia Powered Ships (NoGAPS) partners - BW Epic Kosan, Yara, MAN Energy Solutions, Wärtsilä, Global Maritime Forum, and Breeze Ship Design an Approval in Principle (AiP) for the design of an ammonia-powered gas carrier – the M/S NoGAPS. The certificates were presented during the Nor-Shipping trade fair at the DNV stand. Multi-fuel...

Corvus Energy, the global provider of zero-emission solutions for the ocean space, is thrilled to announce the launch of its ground-breaking, inherently gas-safe marine fuel cell product, the Corvus Pelican Fuel Cell System. Corvus Pelican Fuel Cell system Designed to transform the maritime industry, the new product represents a significant leap forward in safe, clean, and efficient power generation for marine vessels. The Corvus Pelican Fuel Cell system is the result of the H2NOR research pr...

Lloyd’s Register (LR) has awarded Daphne Technology with Approval in Principle (AiP) for its PureMetrics emission monitoring and reporting system, a key tool for understanding and mitigating emissions resulting from methane slip. Methane slip Methane slip, where unburned fuel is not fully combusted in engines, represents a significant obstacle to cutting climate emissions with a global warming potential (GWP100) 28 times that of CO2. Reliable and feasible technology is, therefore, key t...

Korean Register (KR) has awarded an AIP (Approval in Principle) for a 40,000 m3 LCO2 carrier developed by Samsung Heavy Industries (SHI) in collaboration with KR.  Result of collaboration The certificate was presented during a ceremony held at Nor-Shipping 2023 in Oslo, Norway on 7 June. This achievement is the result of a successful collaboration between SHI and KR, with SHI designing the cargo tank and hull structure, while KR verified the suitability of the design by reviewing classif...

Young people under the age of 30 make up half of the world’s population. Their future depends largely on a successful transition to more sustainable, zero-emission solutions. It is, therefore, important that their interests, views, and perspectives are heard. That is why the Global Maritime Forum is giving aspiring leaders between the ages of 18 to 30 the opportunity to make their case for an inclusive transition to a zero-emission maritime industry. In the fifth edition of the...

Anemoi Marine Technologies, a UK-based developer of Rotor Sails for the global shipping industry, is enhancing its efforts to provide its award-winning Rotor Sail technology for ship owners, managers, and charterers to install onboard vessels as they look to decarbonise their operations. The company will be showcasing these solutions at Nor-Shipping 2023, a prominent international maritime event held from 6 June - 9 June, 2023 at NOVA Spektrum, Lillestrøm, Norway. Attendees are invi...

Ecomar Propulsion has agreed to their third partnership agreement at Nor-Shipping 2023 with Swiss hydrogen fuel cell specialists - EH Group Engineering AG. The partnership will see the partners integrating a series of new innovations into 200kW+ marinised fuel cells. The partners aim to rationalise complexity and use a new series of control strategies for the seamless integration of fuel cells into Ecomar Propulsion’s zero-emission marine powertrains. Hydrogen-powered Energy Storag...

Korean Register (KR) has granted Approval in Principle (AIP) for a methanol-fuelled MR tanker, jointly developed by KR, South Korean shipbuilders - K Shipbuilding and equipment manufacturer - S&SYS at Nor-Shipping 2023 in Oslo, Norway on 6 June, 2023. Joint Development Project As part of the Joint Development Project (JDP) between the three companies, the MR tanker is designed as a dual-fuel vessel, harnessing the power of marine gas oil (MGO) and methanol. The vessel incorporates two m...

By pooling expertise and resources, Kongsberg Digital and StormGeo are committed to transforming how performance data is gathered, analysed, and utilised. As the first step, StormGeo's Performance Application will be available to maritime customers together with Kongsberg Digital’s Vessel Insight Vessel to Cloud data infrastructure. Vessel Insight solution As a global frontrunner in weather intelligence and data science, StormGeo empowers enhanced business decisions in weather-sensitive...