Finance - News

Fred. Olsen Cruise Lines’ Balmoral is the first of the fleet’s three ships to set sail on a 2023 grand voyage and has arrived in Bermuda, after leaving Portsmouth on 5th January for a 78-night ‘Exploration of South America and the Antarctic’ cruise. During the circumnavigation of South America, Balmoral will be calling in to destinations including Peru, Uruguay, Chile, Brazil and for the first time in Fred. Olsen’s history, the Antarctic. Guests will have the chan...

Rolls-Royce announces that it has conducted successful tests of a 12-cylinder gas variant of the mtu Series 4000 L64 engine running on 100% hydrogen fuel. The tests, carried out by the Power Systems business unit, showed very good characteristics in terms of efficiency, performance, emissions and combustion. These tests mark another important step towards the commercial introduction of hydrogen solutions to meet the demand of customers for more sustainable energy. Commercial introduction of hy...

Masdar, one of the world’s renowned clean energy companies, Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy Terminals have signed a Memorandum of Understanding (MoU) to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam, in order to support Dutch and European markets. The MoU was signed by Mohamed Jameel Al Ramahi, the Chief Executive Officer (CEO) of Masdar, Gert-Jan Nieuwenhuizen, the Managing Director of Port of Amsterdam International,...

Everything is now ready for the Port of Valencia to become the first European port to deploy hydrogen technology in its activity. Next Tuesday, on 17th January, 2023, the loading test of this clean fuel will be carried out at the hydrogen plant located on the Xità quay. The tank that will receive the hydrogen and the mobile re-fuelling station that will charge it are already at the Port of Valencia facilities. Leak and pressure tests carried out on storage tank During the previous days...

The UK Transport decarbonisation plan sets out the British Government’s commitments and the actions needed to decarbonise the entire transport system in the United Kingdom (UK). It includes: The pathway to net zero transport in the UK The wider benefits net zero transport can deliver The principles that underpin our approach to delivering net zero transport ‘Decarbonising transport: setting the challenge’ report The plan follows on from ‘Decarbonising transport:...

Resolve Marine, a globally renowned company in ship and vessel salvage, rescue, emergency response, and specialised marine services, has announced that Deputy Chief Executive Officer (CEO), Joseph Farrell, III has been appointed as the Chief Operating Officer (COO). In the combined role he oversees all operations and administration, including emergency response, projects, Alaska, shared resources, HSEQ, strategy and M&A, finance, government relations, human resources, marketing, and alterna...

In an effort to showcase how employment and education can further one and other, Peel Ports Group spoke to Cardiff University Student and Peel Ports employee - Francesca Thomas. Francesca is partway through her Hydrographic Surveyor placement with Peel Ports Group, where she is collecting data for her University dissertation. In conversation with Francesca Thomas Francesca Thomas said, “Within the hydrography department, I have been introduced to a whole new industry that I’m not...

Hamburger Hafen und Logistik AG (HHLA) has commissioned Linde Engineering to build a hydrogen filling station within the scope of its Clean Port & Logistics innovation cluster. The filling station will be part of the test centre for hydrogen-powered port logistics at the Container Terminal Tollerort (CTT) in the Port of Hamburg. Hydrogen filling station HHLA will operate the filling station as part of its cluster activities in the Port of Hamburg The hydrogen filling station is being dev...

Representatives of the port community took part in the delivery of toys to the Nuestra Señora del Carmen, Santiago Apóstol and Ausias March schools. The action was promoted by Aportem-Puerto Solidario of Valencia. The Three Wise Men and their pages visited several schools in the Maritime District of Valencia to distribute, with the help of Aportem-Puerto Solidario de Valencia, illusion and toys to 350 children. Distribution of toys to children in Valencia’s schools Profess...

DNV, the global independent energy expert and assurance provider, was engaged by Ocyan as independent third party in the qualification process of a system injecting hydrogen as an additive in the internal combustion engines of drilling rigs, in order to reduce diesel consumption and greenhouse gas (GHG) emissions from drilling. DNV’s technology qualification process will ensure that the technology achieves the expected degree of maturity, following provisions in DNV-RP-A203 – which...

International SME financier, Bibby Financial Services (BFS) has appointed Paul Ratcliffe as Managing Director for its new Marine Finance business set to launch in 2023. Paul's experience  With 40 years of experience in the maritime and asset finance sectors, Paul began his career at BFS’s parent company, Bibby Line Group (Bibby), in 1980 when he joined his first ship, MV Dorsetshire. After gaining over four years of sea time, including as Third and Second Officer on a variety...

Cammell Laird Shiprepairers & Shipbuilders Limited (Cammell Laird) is reporting an annual loss for the fifth year in a row, but is now showing signs of emerging from ‘some of the most challenging times in the group’s history’. That was how Chief Executive - David McGinley described 2020 and 2021 after the Birkenhead shipyard took a significant financial hit from the building of the £200 million polar research vessel - RRS Sir David Attenborough. Cammell Laird’...

Maritime UK, the umbrella organisation for the UK’s maritime sector, has appointed Robin Mortimer as its new Chair and Tom Boardley as Vice Chair. Robin Mortimer was nominated by the British Ports Association and UK Major Ports Group, while Tom Boardley was nominated by the UK Chamber of Shipping. New Chair and Vice Chair appointed Maritime UK will be working closely with the UK government on its refresh to the Clean Maritime Plan Currently serving as the Chief Executive Officer (CEO)...

Global safety equipment manufacturer and supplier - Survitec will demonstrate a range of Maritime Defence equipment, including boats and personal protective equipment (PPE), with live waterborne displays at DSEI 2021 from 14th – 17th September 2021 at Excel, London, United Kingdom (UK). The demonstration will feature a number of new additions from Survitec, including the Marin Life Jacket, their newest defence life jacket, which fully integrates to any body armour, which is important not...

During the month of January, technicians from Valenciaport, the National Hydrogen Centre and Carburos Metálicos are expected to carry out this operation in the hydrogen plant located on the Xità quay. The next step will be the use of prototypes of port machinery that will run on this clean fuel. With this initiative, the Port of Valencia is positioned as the pioneering and emblematic port in Europe in the development of hydrogen technologies. Valenciaport - a reference in the &ls...

The PortXL community gathered at the RDM Innovation Dock to celebrate the achievements of the 2022 cohort. The solutions of the 13 start-up companies vary from flywheel designs originally meant for space operations to offshore wind turbine floaters that double as hydrogen storage. The goal of the PortXL acceleration programme is to build collaborations between corporates and start- and scale-ups to accelerate innovation. More than 10 collaborations were signed to continue working with these inn...

Global law firm Norton Rose Fulbright has advised a pool of lenders on a SACE-backed shipping financing for the construction of the largest ever cruise ship to be built in Italy, MSC Seascape, built at Fincantieri, Italy. MSC Cruises took delivery of MSC Seascape on 16 November 2022. The ship arrived in New York on 5 December, with her first sailing from Miami taking place this week. Expansive waterfront promenade MSC Seascape is the sister ship of MSC Seashore – also built at Fincantie...

President Muhammadu Buhari, GCFR, has approved the immediate disbursement of the Cabotage Vessel Financing Fund, CVFF, to qualified Nigerians as part of the Federal Government’s commitment to growing the indigenous capacity of Nigerians to own vessels. The Honorable Minister of Transportation, Engineer Mu’azu Jaji Sambo announced at a press conference that the Presidential approval received by the Ministry confirmed Union, Zenith, Polaris, UBA, and Jaiz Banks as the appointed Prim...

20,000 businesses will face due diligence requirements from the EU’s Corporate Sustainable Due Diligence Directive (CS3D) which is due to come into force in 2024. This follows Germany’s Lieferkettengesetz (Supply Chain Act) which will take effect in 2023 and Norway’s Åpenhetsloven (Transparency Act) which became law in July 2022. These state-specific rules add to the list of those from other nations like Australia, France, and the UK, which have released similar regulati...

MAN Energy Solutions and Anglo-Eastern Ship Management Ltd. (Anglo-Eastern) recently signed a cooperation agreement regarding a so-called ‘Innovation Partnership’. Under the terms of the agreement, the two parties will – on an ongoing basis – exchange data and knowledge regarding the daily operation of engines, engine performance and maintenance, testing of digital products, development and creation of software, algorithms, and APIs, among other areas. ‘Innovation...

VSTEP launched their latest maritime simulator - NAUTIS Home for maritime professionals, students, or enthusiasts. Making ship simulation available on a large scale brings them closer to their goal, which is to ensure that simulation-based learning becomes a vital part in maritime education and training. Simulation-based learning has been applied to a great extent in a variety of fields such as aviation and healthcare. In the maritime industry, simulation training has not yet obtained that equa...

A first Annual Report focused on the delivery of a joint project to support regional growth within the maritime sector has been launched at the latest meeting of the Maritime UK National Council chaired by its Patron, Her Royal Highness - The Princess Royal. The meeting took place at Watermen’s Hall, in London, United Kingdom (UK), on Wednesday, 07 December 2022. Regional Growth is one of the five identified priority themes of Maritime UK, which in turn correspond to key ambitions set out...

With the signature of Ocean Alliance Day 7 Product, the CMA CGM Group continues to support its customers’ business, by expanding its range of services to serve more ports, with direct calls and improved transit times starting from January 2023. The Group’s customers will reap the benefit of an optimised, highly competitive offering built on: 353 containerships, of which 125 will be operated by the CMA CGM Group, which continues to play a leading role within the alliance; 40 serv...

The CMA CGM Group, a global player in sea, land, air and logistics solutions, has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc. (GCT). Two major US East Coast terminals The Port of New York and New Jersey is a key entry point serving the Northeastern U.S. supply chain areas and represents CMA CGM’s largest gateway on the U.S. East and Gulf Coasts. The Bayonne and New York terminals, with an existing combined ca...

Singapore Shipping Association (SSA) and ClassNK have signed a MoU (Memorandum of Understanding) to establish a framework for cooperation in cyber security research activities. Cyber security has been acknowledged by the maritime industry as a key element to keep ships safe during operations, and to ensure its solid and steady digital transformation in coming years. Singapore, being a global maritime hub that connects regional and global markets, is ideally positioned for such research activiti...

DNV Supply Chain & Product Assurance has expanded its portfolio of sustainability services to help businesses implement solutions and provide the necessary third-party verification required by EU regulators. The EU Green Deal is the conclusion of a series of developments in terms of sustainability started by the Kyoto Protocol, the first carbon reduction scheme in 1997, which involved the EU nations. These regulations raised a trillion Euros to enable countries to invest and transition into...

The Belledune Port Authority (BPA) has signed a Memorandum of Understanding (MOU) with Germany’s largest seaport, the Port of Hamburg, to collaborate on the movement of dry and liquid bulk commodities, and manufactured products, between Canada and Germany, with a focus on clean fuels and green products. The Port of Hamburg, located on the River Elbe, about 100 kilometres from the river’s mouth on the North Sea, is positioned as Germany’s major foreign trade hub with up to 450...

PD Ports has welcomed the first vessel call on a brand new, dedicated, service from Spain and Portugal into Teesport, United Kingdom. The Kristin Schepers, a vessel capable of carrying 800 containers, arrived at Teesport on Tuesday, after a four-day sailing from Aveiro in Portugal to discharge containerised cargo for onward distribution via PD Ports’ dedicated road haulage fleet. New route into Teesport We’re delighted to be welcoming Ellerman City Liners to our roster at Teesport...

Sociedad Puerto Industrial Aguadulce (Puerto Aguadulce) has reached a new milestone with its recent handling of CMA CGM ARGENTINA – the largest-capacity vessel to arrive in Colombia’s main port - Buenaventura. The milestone highlights Buenaventura’s position as a strategic port city for the country’s foreign trade with the Asia-Pacific region and the world. Milestone for Colombia’s Buenaventura port This news has great significance not only for the national port...

WE Tech has commenced an agency agreement with Monaco Shipping Services SARL (MSS) for the Monaco and Italy markets. The official document was signed on December 2, 2022 at MSS’ office in Monte Carlo, Monaco. WE Tech – MSS partnership The companies will together serve the future needs of Monaco and Italy’s shipping industry. The upcoming IMO regulations (EEXI and CII) strongly focus on reducing GHG emissions and improving the performance of ships, hence there will be huge mar...