Finance - News

A two-stage freshwater generator will soon join the Alfa Laval AQUA Blue family. Compared to the single-stage AQUA Blue E1, the two-stage AQUA Blue E2 produces twice as much fresh water for a certain amount of waste heat – or the same amount of fresh water using around half the waste heat. Thanks to Alfa Laval’s AQUA plate technology, both models are far more efficient than competing systems. Matchless efficiency in two stages Alfa Laval’s AQUA plate technology cut the seawa...

Isaac Hankes, Senior Weather Analyst at London Stock Exchange Group, comments: “The Panama Canal is experiencing major, ongoing disruptions in the shipping supply chain due to restrictions on traffic related to very low water levels. This is the result of drought conditions that rapidly developed from the beginning of the year through June and have held steady since that time." He adds, "In fact, 2023 is off to the driest start during January-July since 2015, which had a similar rainfall...

ClassNK has released 'Guidelines for the Safe Transportation of Electric Vehicles' and 'List of Fire Safety Measures for the Maritime Transportation of Electric Vehicles' to support in enhancing the safety of maritime transportation of electric vehicles. Lithium-ion battery fire The number of EVs transported by vessels has increased in recent years. However, there are concerns regarding fires in their lithium-ion batteries due to difficulties in extinguishing and the risk of re-ignition. Whil...

ClassNK has released 'Guidelines for Liquefied Hydrogen (LH2) Carriers (Edition 2.0)', which cover essential details to examine the safety of liquefied hydrogen carriers to spur related technological developments. To construct a supply chain for hydrogen, which is expected to be a clean energy source in a decarbonised society, the development of liquefied hydrogen carriers that enable large-scale and efficient transportation is progressing actively. ClassNK’s R&D outcome IMO has wor...

Tokyo-based classification society, ClassNK has opened a new exclusive survey office in Paranagua, Brazil with operations beginning 1 September 2023. Paranagua, located in southern Brazil, ranks among the premier port cities in the country and has recently been expanding its port facilities. ClassNK's new survey office Recognising the increasing number of surveys and audits in the port and the neighbouring region, ClassNK has taken the initiative to open its newest office, aiming to provide m...

A significant step towards the realisation of sustainable shipping and a zero-emission future has been taken, as the Finnish major energy efficiency solution provider - WE Tech Solutions (WE Tech) joined forces with one of the largest Japanese general trading companies - Mitsui & Co., Ltd (Mitsui). In landmark agreements, WE Tech further strengthens its position as a global energy efficiency solution major by calling in Mitsui’s strategic investment leading it to be a significant mino...

Moving from smart talk to practical solutions and bringing stakeholders together will be the key themes of an industry event organised by Inmarsat, a Viasat business, in partnership with Smart Maritime Network during London International Shipping Week 2023. Staged at Inmarsat headquarters on 12 September, the conference will focus on the increasingly decisive role satellite technology plays in shaping smarter and more sustainable shipping. Highlight of LISW 2023 Headquartered Inmarsat has co...

The Supervisory Board has appointed Simon Lembke to the Board of Directors of DAKOSY AG as of September 1, 2023. With his extensive expertise and many years of experience in the DAKOSY business areas of data center management, community systems and customs applications, Simon Lembke will take on his new role on September 1, 2023. The 43-year-old is currently the main Department Manager for Customs and Forwarding Applications at DAKOSY. Innovation in the logistics For Lembke, the position on t...

Idwal, the global provider of vessel inspections, benchmarking and analysis, is pleased to announce the opening of its new Asia headquarters in Singapore. This strategic move marks Idwal's expansion into the high-growth Asian maritime market. The Singapore office will serve as Idwal's hub for Asia, enabling the company to provide enhanced sales support, technical expertise and superior customer service to ship owners and operators across the region. Idwal chose Singapore for its reputation as a...

Fjord1 and Brødrene Aa have chosen Brunvoll Mar-El as the system integrator and supplier of electric propulsion systems for one new low-emission and two zero-emission passenger ferries. The passenger ferries will operate out of Bergen on the routes; Knarvik - Bergen and Kleppestø - Bergen. Electric and hybrid solutions "This is a substantial contract for us and a great achievement for everyone at Brunvoll Mar-El," says Helge Asle Lundeberg, Managing Director at Brunvoll Mar-El A...

DNV, the independent energy expert and assurance provider, has announced the release of its new service specification, DNV-SE-0654, which delineates DNV's procedures for verifying claims made by companies about the production and distribution of low-carbon hydrogen and ammonia.  Associated ammonia production This new service will enable hydrogen producers to document and demonstrate compliance with applicable standards, ensuring the credibility and transparency of their claims, and allow...

SAIM Marine (SAIM S.p.A.) introduces the products of the well-known Turkish company - Data Hidrolik for the first time at the forthcoming boat shows. Data Hidrolik has been manufacturing windlasses, mooring capstans and electric and hydraulic steering systems for a broad range of marine vessel since 1945. SAIM and Data Hidrolik partnership SAIM Marine was designated as the sole distributor of Data Hidrolik deck machinery and steering systems SAIM Marine was designated as the sole distributor...

Atlas Copco Group has begun construction of a new manufacturing facility in Talegaon, Pune, India. Atlas Copco’s new factory in Talegaon will manufacture air and gas compressor systems for the local market, and for export. It encompasses a manufacturing plant and office building of approximately 25,000 m2. Atlas Copco is investing around MINR 1400 (approximately 180 MSEK). Atlas Copco’s new facility in Talegaon, Pune We invest further in capacity in India to cater to the growing d...

Svitzer and Robert Allan Ltd. have entered an agreement to design the world’s first Methanol Hybrid Fuel Cell (MHFC) tug. Utilising a combination of batteries, fuel cells and gensets, this tug will operate completely free of diesel fuel, and is a major step forward on Svitzer’s path to the decarbonisation of their global towage fleet. Methanol Hybrid Fuel Cell tug Scheduled to enter service at the Port of Gothenburg, Sweden in the second half of 2025, this new tug is an important...

Events at this year’s London International Shipping Week 2023 (LISW23) are set to extend far beyond maritime waters – in fact they’re heading into space. LISW23 Diamond Sponsor - Inmarsat has announced the guest speaker at its Connected Future conference will be the cosmonaut - Helen Sharman CMG, OBE. Inmarsat announces guest speaker Helen will be sharing the amazing story of how she became the first British person to go into space aboard the Russian Soyuz TM-12 spacecraft f...

The prolonged dry season is a natural phenomenon that affects many regions, including the Panama Canal. While there can be no control over nature, businesses can adapt their operations to ensure a competitive flow of vessels. Adaptative approach  In line with Panama Canal Authority’s commitment to providing a reliable and sustainable service, they have chosen to extend booking Condition 3. The standard offering of reservations comprises 23 booking slots for the Panamax locks The...

With the revised International Maritime Organisation’s Green House Gas (GHG) Strategy now targeting a reduction of GHG emissions from international shipping to net-zero by close to 2050, there will be intense focus during London International Shipping Week 2023 (LISW23) on how this can be achieved and where changes need to be made. Many event organisers have announced they will be looking directly at these challenges during their LISW23 events. Here are just some examples: Zero Emissi...

The Netherlands will showcase all it has to offer as a maritime cluster and reinforce its strong and close relationship with the United Kingdom (UK), when it becomes the first ever pavilion partner for London International Shipping Week 2023 (LISW23), taking place from 11 September to 15 September, 2023. One of the most important international shipping and maritime events in the world, it has already attracted a variety of Dutch maritime companies who have signed up to represent the nation unde...

Cargill and BAR Technologies’ ground-breaking innovation, BAR Tech WindWings by Yara Marine sets sail on open waters, testing new technology that will bring cutting-edge wind propulsion to commercial shipping for the first time.  Mitsubishi Corporation’s Pyxis Ocean, chartered by Cargill, is the first vessel to be retrofitted with two WindWings, which are large wing sails measuring up to 37,5 metres in height that can be fitted to the deck of cargo ships to harness the pow...

ZIM Integrated Shipping Services Ltd. announced a restructuring of its existing services to Oceania (CAX, TFX and N2A), to upgrade the service levels to their customers. The changes will take place in the course of October 2023, be as follows: ZAX - Northeast Asia - Australia: ZIM will replace its existing CAX service to new service as below: Rotation: Pusan – Qingdao – Shanghai – Ningbo – Hong Kong – Yantian – Nansha – Brisbane – Melbourne...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, is currently developing the Mitsubishi Ammonia Supply and Safety System (MAmmoSS®), an ammonia handling system to support the utilisation of ammonia as marine fuel, which is attracting attention as a means of significantly reducing greenhouse gas (GHG) emissions from ships. As part of this development project, Mitsubishi Shipbuilding has begun demonstration testing of the Ammonia Gas Abatement System (AGAS...

Brunvoll has secured a contract with Fitjar Mekaniske Verksted AS for the delivery of a propulsion and maneouvering package for the stun and bleed vessel. FSV’s new vessel is designed in corporation between Sirius Design & Integration and Fitjar Mekaniske Verksted AS, which also are building the vessel. Stun and bleed vessel The 50-metre-long stun and bleed vessel will be fitted with a twin-screw configuration, featuring controllable pitch shaft lines propellers, and reduction...

ClassNK has released “FAQs on the FuelEU Maritime (1st Edition)”, an overview and necessary preparation for FuelEU Maritime, regulations newly introduced by the European Union (EU) to promote the decarbonisation of fuels used on board ships. The EU has set a goal of reducing greenhouse gas (GHG) emissions by at least 55% by 2030, compared to the 1990 levels, to achieve net zero emissions by 2050. Fit for 55 As part of a comprehensive climate policy package, "Fit for 55" for achiev...

Sirius Insight, a renowned UK technology company focused on AI in the maritime environment, was delighted to welcome the Rt Hon Mark Francois MP, Member of the Defence Select Committee, who was accompanied by the constituency MP, Sir James Duddridge, Member of Parliament for Rochford and Southend East, to view the company’s technology platform.  Transformative AI technology Sirius Insight is a UK company working in this cutting-edge field of technology and is a global pioneer in a s...

Evergreen Marine Corp. (EMC) held an official opening ceremony for the newly built Terminal 7 at Kaohsiung Port. With the vision of new opportunities for the port and the provision of substantial enhancements to trade, the smart terminal is expected to drive ongoing growth of shipping related industries within southern Taiwan. The event was presided over by EMC’s Chairman, Y.I. Chang, and President, Eric Hsieh. A host of local government officials and distinguished guests were also in atte...

ClassNK has issued an Approval in Principle (AiP) for an ammonia fuel supply system for an oil tanker and container ship developed by Samsung Heavy Industries (SHI).Ammonia is expected to be used as a ship fuel for decarbonisation since it does not emit CO2 when combusted. Meanwhile, adequate safety measures are imperative as it has been pointed out that ammonia is toxic to humans and corrosive to materials. Zero-emission ships ClassNK accepted out a review of an ideational design of the p...

The Panama Canal Authority places great emphasis on providing world-class, reliable services to all its customers. Amidst current challenges, the authority is taking proactive measures to ensure its competitiveness and operational capacity for today and the future. Chief among these challenges is the critical issue of freshwater availability for both the population’s consumption and the transit of vessels. Water efficiency Since the previous drought in 2019-2020, the Canal has been im...

GTMaritime, pioneering experts in secure maritime data communications solutions, has released a new whitepaper that assesses the impact Low Earth Orbit (LEO) networks are having on the maritime industry and key considerations for wider adoption. Available to download free of charge, Opportunities and Challenges: Introducing New LEO Networks to the Maritime Industry, offers an insightful overview of commercial shipping’s first movers in LEO network service use. It outlines the potential fo...

Maritime sectors must work together to enable the shipping industry to meet the challenges it faces over the coming years and to develop a greener and more sustainable future. Speaking in the first of a series of video interviews for London International Shipping Week 2023 (LISW23), Pino Spadafora, Senior Director, Global Marine Commercial & Strategy, for classification society - RINA, pointed out that LISW23 provides ‘an incredible platform’ for shipping executives to share exp...

Akiem, a renowned European rolling stock leasing company, has ordered an additional 15 Vectron AC and Vectron MS locomotives from Siemens Mobility. The order was placed as part of a framework agreement for the purchase of locomotives that was signed in December 2021. Locomotives from this new call will be delivered between 2025 and 2027. Akiem previously ordered 20 Vectron locomotives from Siemens Mobility in December 2021 and an additional 65 units last August. Akiem order for Vectron locomot...