Finance - News

With effect from 10 April, 2023, the Head Office of Pacific International Lines (PIL) in Singapore will be relocated to the following address: Pacific International Lines (Pte) Ltd 128 Beach Road #15-01 Guoco Midtown Singapore 189773 The main telephone number remains unchanged at +65 62218133. People are advised to send all mail and physical correspondences to the above new address from 10 April, 2023 onwards.

Last year one of OceanWise’s long-standing customers, The Peel Ports Group, approached them to come up with a solution to a historic problem they had with their fog signal management, as other previous attempts had not been successful. Peel Ports Group needed a bespoke fog signal control unit, which allowed their team to remotely manage signals via a web page. Control unit connects to OceanWise’s Port-Log data platform Using the OceanWise in-house marine engineering team, Peel Por...

Analysis of Xeneta’s Carbon Emissions Index (CEI) has revealed that Yang Ming is the container industry’s ‘emission hero’ for all relevant CEI-covered trades in Q4 2022. The Taiwanese giant was the industry’s only major player to score below the CEI performance baseline of 100 (set in Q1 2018) across all CEI routes. According to the Carbon Emissions Index (CEI), a unique solution from Xeneta and Marine Benchmark, Yang Ming found the industry’s best balance be...

In reference to the recent declining bunker prices, Mariana Express Lines Pte. Ltd. (MELL) has reviewed their BAF/BRF quantum for May 2023, please see below for update:  

FESCO Transportation Group (“FESCO”, the “Group”) intends to increase the total area of container warehouse in Commercial Port of Vladivostok (CPV, a FESCO company) by 20% by 2025. The first stage of warehouse expansion was the launch of a new production site “Warehouse 81” of 13.5 thousand m2 and an operational capacity of 1,113 TEU within the territory of the Commercial Port of Vladivostok (CPV). FESCO to increase total area of container warehouse at CPV...

One of the world’s renowned container terminal operators, APM Terminals, part of A.P. Moller - Maersk, has announced the expansion of its Maasvlakte II terminal in Rotterdam, Netherlands. The project involves a site of approximately 47.5 hectares with 1,000 metres of deep-sea quay. The Port of Rotterdam Authority is now constructing the new quay walls, which will be completed by mid-2024. The expansion will increase the terminal’s capacity by approx. 2 million TEU and the new sectio...

Hurtigruten Norway, which is working towards delivering its first zero emission ship by 2030, has kicked off an innovative research project, in partnership with research institute - SINTEF and 12 maritime partners. The new consortium is dedicated to developing innovative, zero-emission solutions for the future of passenger ships. Building sustainable vessels The partners aim to create the most energy-efficient and sustainable cruise ship ever built by 2030 Based on cutting-edge research, the...

Rolls-Royce has announced changes to their Board and Executive Team, adding leaders with proven track records of delivering success and a strong commitment to creating a high-performing, competitive, resilient and growing business. This follows the launch by Chief Executive - Tufan Erginbilgic, on 23 February 2023, of a transformation programme requiring a winning culture and shared determination to deliver sustainable earnings growth and cash generation. Changes to the Board and Executive Tea...

Babcock has been awarded a 12-month contract extension to continue its support of Skysiren, the UK’s implementation of the US defence Integrated Broadcast Service. Skysiren is part of a UK Five Eyes programme, which provides the UK Armed Forces with near real-time intelligence sources in a single broadcast data stream. Babcock has been installing Skysiren and providing support since 2017. This 12-month extension follows an extremely productive 2022 for the team, involving installat...

In close coordination with the UfM EU (DG MARE) and Jordan Co-Presidency, on March 28, 2023, the Union for the Mediterranean (UfM) and the World Ocean Council (WOC) signed a Memorandum of Understanding (MoU) at UfM Headquarters in Barcelona, Spain, in the framework of the 2021 UfM Ministerial Declaration on Sustainable Blue Economy and Roadmap for its implementation, and of the WestMED Initiative, supported by the UfM and by the European Commission. Based on the experience with sea basin and ma...

The Port of Valencia has trained 2,600 hauliers operating in the Valencian precinct on the ValenciaportPCS App for mobile devices. The aim has been to promote the use of this application, to actively listen to lorry professionals, to improve the operability of the logistics chain, to promote environmental sustainability and to reduce the number of incidents that drivers may encounter when accessing the site. This training has been carried out by ValenciaportPCS technicians at the entrance and...

Ulstein started to develop vessels for the offshore oil & gas industry in the 1970s, and dedicated vessels for the offshore wind industry after 2000. The next-generation offshore energy vessels must be flexible and able to work year-round, and there will be several crossover vessels for these two markets. Crossover vessel The ocean has been and will be a substantial source of energy. Whether it is offshore oil & gas, offshore wind, or wave energy generation, these energy markets will...

Global satellite communications provider, Satcom Global has announced that Arklow Shipping has signed a new fleetwide, long-term agreement for AuraNow VSAT, and committed its new build vessels to install the groundbreaking solution offering unlimited data with truly flexible bandwidth. From their new state of the art headquarters in Arklow, the Irish ship owner and charterer has signed significant contract extensions and new agreements with their long-standing satellite communications provider,...

Resolve Marine, a pioneer in ship and vessel salvage, rescue, emergency response, and specialised marine services, announces the formation of a Government Relations department. To lead the effort from the Washington D.C. area, retired Navy Capt. Gregg Baumann has been appointed Government Program Manager. In this newly created role, Baumann is responsible for developing strategy and objectives to grow the company’s government services business, with a primary focus on the United States a...

The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Communications Commission (NCC), has agreed to work closely with relevant stakeholders, as NIMASA inches closer to developing a regulatory framework to provide operational guidelines for Submarine Cable and Pipeline Operators in Nigeria. Officials of both organs of the Government in Lagos, Nigeria, reached this agreement at a pre-Audit meeting on submarine cable regulation. NIMASA, NCC develop su...

Tokyo – Leading Classification Society, ClassNK granted the Class C Innovation Endorsement Provider Certification to Yusen Logistics Co., Ltd. ClassNK offers its third-party Innovation Endorsement ‘Provider Certification’, which supports innovative initiatives, to companies and organisations. As companies pursue ESG-oriented management and SDGs, ClassNK conducts third-party certification on the initiatives to transform their own business methods and organisations to establish...

A new insight brief series from the Global Maritime Forum identifies four actions that maritime and shipping industries can take now to support shipping’s transition to a sustainable and resilient zero-emission future. “We need to clean up shipping supply chains and optimise our operations. To do this, we must collaborate, standardise, and be transparent. Let’s share the benefits of slowing down and let’s collectively make a difference,” says Eman Abdalla...

Wrist in Montreal has just opened a new sufferance warehouse which allows them to – quickly and efficiently – clear customer ship spares and consolidate with provisions and stores in one single operation. In expanding the customs clearance services, Montreal meets the increasing need for Last mile services to ease the delivery process of provisions and stores together with customers’ ship spares. For many years, Wrist in Montreal has been clearing customers’ ship spare...

SAFE Boats International announces the introduction of a revolutionary, autonomous hydrographic survey vessel: Merlin. This innovative, 23-metre semi-displacement monohull design was developed in collaboration with Mythos AI, Echo81, and World Marine Design. SAFE Boats International has exclusive rights to build the design at their Tacoma, Washington large-craft production facility. Autonomous hydrographic survey vessel: Merlin Merlin will be a Jones Act-compliant all-aluminum hull power...

Every year, 241 million containers are transported across the seas with over 7 trillion dollars’ worth of food, clothes, electronics and other goods that the world needs. While crucial for the smooth functioning of the global supply chain, containers and their cargoes can also harbour and transfer contaminating pests. All parties in the supply chain have a shared responsibility for stopping the spread of pests, by keeping cargo and containers clean, when in their custody. Joint Indu...

Peel Ports Group (Peel Ports) launches UK’s first Green Automotive Hub, in order to enable sustainable manufacturing in Merseyside, United Kingdom (UK). Peel Ports Group has announced plans for a new £10million Green Automotive Hub in Merseyside, in order to help power sustainable vehicle manufacturing ambitions. Green Automotive Hub Located on Queen Elizabeth II Dock at Eastham, within Peel Port’s Mersey cluster, the project will facilitate a greener end-to-end maritime log...

As part of its service offerings in China, PIL provides river barge service for its customers who require efficient movement of their cargo from the ports into inland China. Backed by this established experience, PIL is working to integrate its barge service offering in China, as part of the newly launched PIL Intermodal Service. PIL Intermodal Service With the addition of the barge service, as well as the rail and truck services, customers in China can entrust PIL to provide them with good p...

Peel Ports Group has announced plans for a new £10million Green Automotive Hub in Merseyside to help power sustainable vehicle manufacturing ambitions. Located on Queen Elizabeth II Dock at Eastham, within Peel Port’s Mersey cluster, the project will facilitate a greener end-to-end maritime logistics service in the North West. The hub, believed to be the first of its kind in the UK, will sit on a 9.5-acre site on the River Mersey, adjacent to the Manchester Ship Canal, also operated...

The Port Authority of Valencia (PAV) has presented at Eco Mobility Expo, its projects to become an emission-neutral port in 2030: railways, electrification of the docks or the use of fuels such as hydrogen. The PAV is earmarking more than 131 million Euros of public investment in decarbonisation projects, with the strategic objective of becoming an emission neutral port by 2030. The services, connectivity and infrastructures of Valenciaport facilitate the attraction of industrial projects to th...

The 1st ValenciaportPCS Shippers’ Conference was held with the aim of listening to import/export companies, in order to improve the digital services offered by the technological platform – ValenciaportPCS digital platform. ValenciaportPCS ValenciaportPCS has shown itself to be an effective and efficient tool that saves costs and time for all companies linked to the port community. Valenciaport adds new actors to its commitment to the digitalisation of the logistics value chain Va...

Orbital Marine Power (Orbital), the renewable energy company focused on the commercial deployment of its innovative floating tidal turbine technology, announced it has been awarded an Option Agreement from Crown Estate Scotland for a new tidal energy project in the Westray Firth. Orkney-headquartered Orbital Marine Power also confirmed it has a grid connection in place to service the pioneering project, which is located adjacent to the European Marine Energy Centre (EMEC) facility, where Orbita...

Ports of Stockholm, in collaboration with several partners, has been awarded research funding from the Swedish Transport Agency for research into autonomous shipping in an urban city environment. The aim of the research project is to explore and develop the safety aspects and create new pre-conditions for maritime sustainability and mobility services, in addition to strengthening Stockholm’s position from an international perspective. Ports of Stockholm secures research funding RISE is...

The smooth flow of world trade will be a central topic at this September’s London International Shipping Week 2023 (LISW23) thanks to support from DP World, the major supplier of smart logistics solutions and a significant UK investor, which has come onboard as the event’s exclusive International Logistics Sponsor. Supply chain innovation and resilience will be central to discussions during the week-long event, particularly as the shipping industry addresses international environmen...

Brunvoll (at that time Scana Volda) delivered the first Contra Rotating Propulsion System in 2014 to the PSV ‘Juanita’ owned by Ugland Offshore AS, a project initiated by a request from Salt Ship Design to come up with a Contra Rotating Propulsion System for their PSV-design. Long story short, ‘Juanita’ was designed by Salt Ship Design, built at Kleven Shipyard and equipped with the first generation of Brunvoll Contra Rotating Propulsion System – designed and optim...

Maritime green corridor routes between major port hubs where zero-emission solutions are supported and demonstrated have swiftly become recognised as one of the most important tools to aid industry and governments in the decarbonisation of the maritime sector. The consortium brings together Anglo American, Tata Steel, CMB, VUKA Marine, Freeport Saldanha, and ENGIE, convened by the Global Maritime Forum, to assess how zero-emission shipping on the corridor can unloc...