Finance - News

The Secretary-General of the International Maritime Organization (IMO) has signed a partnership agreement with the Commonwealth Secretariat, under which both organisations commit to strengthening the maritime and port sectors in selected developing countries, through activities which will promote and facilitate the adoption of sustainable maritime transport systems and practices. A Memorandum of Understanding (MoU) was signed on Thursday (29 September, 2022) by IMO Secretary-General, Kitack Lim...

Peder Winther joined Wrist Group on October 1st as CEO for the Ship Supply business and will become part of the Global Management Team and the Executive Management together with Group CEO, Jens Holger Nielsen and Group CFO, Anders Skipper. Peder Winther will take daily responsibility for the Ship Supply regions, Global Sales and Marketing, Global Procurement, and Process Excellence. The strengthening of the ship supply business is part of Wrist’s strategic initiatives for future grow...

Following successful trial inspections, OCIMF can announce the countdown to the release of the production edition of SIRE 2.0 has begun. Due to the significance of this change from VIQ7 to SIRE 2.0, OCIMF will not limit the notice to the standard 90-day window. The SIRE 2.0 integrator API is now available. The SIRE 2.0 integrator API is self-documenting and acts as its own test harness. Inspection booking services There are only minimal changes in this version of the SIRE 2.0 integrator API a...

Diesel is the fuel of choice for a range of products including generator sets and engines used in marine, rail and construction and mining equipment, but there are alternatives. With concerns about the climate rising, businesses, shareholders and lawmakers are looking at replacement options for diesel in vehicles and power generation applications. Emission reductions across alternative fuels should also be considered when making a selection. Reasons for popularity Diesel has been the fuel of...

Swiss Ocean Tech (SOC), a start-up company bringing safe anchoring to sailor, ship and sea, and SAIM Marine (SAIM S.p.A.) announced their joint partnership. The partnership involves an investment to further develop the AnchorGuardian technology, as well as assigning SAIM sole rights for distribution of the solution to the Italian market. With safety and sustainability playing an increasingly critical role in every aspect of yachting, industry players need to look more closely in how they addres...

SAIM Marine (SAIM S.p.A.) will be exhibiting at the Monaco Yacht Show 2022. Monaco Yacht Show 2022 The last boat show of September - Monaco Yacht Show, has been bringing together professionals from the great international yachting industry since 1991, including shipyards, brokers, designers, accessory manufacturers, service companies. It is recognised among industry operators as the not to be missed event of luxury yachting. SAIM Marine looks forward to welcoming everyone to the company's sta...

Valenciaport has positioned itself as a benchmark in the relationship between the port and the city, favouring the harmonisation of the port environment to make it closer to the city with milestones, such as the transfer to the city of the Balcón al Mar in 2013 or more recently the Special Plan of the South Zone 1 for the Nazaret area. The Port Authority of Valencia (PAV) has been invited by the World Bank to present its good practices in the port-city relationship, digitalisation and de...

Crowley has been awarded a contract for the operation and maintenance of six government-owned Maritime Prepositioning Force (MPF) vessels, a unit of the U.S. Navy’s Military Sealift Command. Crowley Government Solutions will carry out the contract, providing crewing and sustained support to enable rapid deployment of equipment and supplies as needed to aid U.S. military operations in remote regions around the world. Between deployments, the company will ensure extensive maintenance to enh...

P&O Maritime Logistics, a global provider of maritime services, is taking delivery of two new bespoke vessels, designed specifically to service Ok Tedi Mining Ltd (OTML) in Papua New Guinea (PNG). Operating on the Fly River and in the Gulf of Papua, P&O Maritime Logistics’ new vessels will work between Kiunga and Port Moresby, in order to transport mainly copper concentrate for export – a key ingredient in developing renewable technology and in urbanisation. New bespoke ves...

Top decision-makers, thought pioneers, and experts from across the maritime spectrum came together to make sense of the rapidly changing world and to identify ways in which they can take action to create a sustainable future. Need for collaboration Jan Dieleman, Chair, of Global Maritime Forum and President, of Cargill Ocean Transportation stressed the need for collaboration to tackle increasingly complex and interdependent issues. “The challenges facing the industry in the years t...

MAN Energy Solutions has published its Corporate Responsibility (CR) Report 2021 that provides information on its decarbonisation targets. Among these, the company aims to reduce emissions from its own production facilities by 50% by 2030, and specifies its commitment to a consistent focus on sustainable solutions. CR activities will concentrate on four focus areas, namely Decarbonisation, Circular Economy, Responsibility in the Supply Chain, and Employee Empowerment. Sustainable corporate act...

MetOcean Telematics (MetOcean) is pleased to announce that they will be exhibiting at EURONAVAL 2024 event in Paris, France, from October 18 - October 21, 2022.  EURONAVAL brings the naval community together to showcase the latest innovations and prepare for the future of navies and administrations operating at sea. They look forward showcasing MetOcean’s latest defence technology and connecting with partners and clients in the naval industry. Protecting maritime environments EURON...

30 shipping banks and 17 marine insurance providers and brokers announce that the Poseidon Principles will add additional trajectories to report climate alignment with a 1.5C future. This new commitment will align the Poseidon Principles with the ambition of the UN and the latest available climate science. Emissions reduction trajectory The Poseidon Principles have committed to adopting an emissions reduction trajectory in line with net-zero commitments, as soon as such a trajectory or trajec...

imageHOLDERS’ bespoke kiosk technology has helped Lufthansa Cargo streamline its delivery processes at a time of numerous challenges for the airfreight industry. Founded in 1994, Lufthansa Cargo is one of the airfreight companies, employing around 4200 people worldwide and servicing 300 destinations in more than 100 countries. The company is continuously investing in state-of-the-art technologies to enhance sustainability and efficiency; when it needed to improve its shipping handling pro...

The shipping industry is working towards full decarbonisation by 2050 at the latest and last year an action plan was launched on which both private and public actors can focus their collective efforts around this and the coming decades. The first-of-its-kind Climate Action in Shipping – Progress towards Shipping’s 2030 Breakthrough report – launched on 21 September during New York Climate Week, prior to the Global Maritime Forum Annual Summit, and in parallel with th...

CULINES and Antong Holdings Co., Ltd signed a framework agreement on capital investment cooperation at the head office of Guangzhou Port Group. Mr. Yibo Li, president of Guangzhou Port Group, Mr. Jianqiang Lou, president of Antong Holdings Co., Ltd, and Mr. Raymond Chen, president, and CEO of CULINES, jointly attended and witnessed the signing ceremony. Mr. Chaoyang Guo and Mr. Kevin Ding, executive vice president of CULINES signed the capital investment cooperation framework agreement on behal...

MetOcean Telematics (MetOcean) is pleased to announce Jean Pelletier has joined the MetOcean Telematics team as the Vice President of Engineering. Reporting to Scott Ivany, Jean will be responsible for leading the execution of projects and initiatives within MetOcean’s Engineering department. Within his career to date, Jean has held roles QinetiQ Group Canada, Ultra Sonar Systems and IMP Aerospace and Defence. MetOcean Telematics hires Jean Pelletier “I am thrilled to join such a...

The Global Maritime Issues Monitor measures the temperature among senior maritime stakeholders on key issues likely to impact the sector in the next ten years, and the industry’s preparedness to face them. Addressing the issues Jointly published by the Global Maritime Forum, Marsh, and the International Union of Marine Insurers, the report finds that the decarbonisation of shipping and new environmental regulations are seen as the most impactful issues for the second year in a row. Geop...

On September 20th 2022, CULINES, together with Lee & Man Paper Manufacturing limited and Guangzhou Port Group jointly signed trilateral strategic cooperation MoU (Memorandum of Understanding) at the headquarters of Guangzhou Port Group. Mr. Xiaoming Song, the Deputy General Manager of Guangzhou Port Group, Mr. Haozhong Li, Executive Director of Lee & Man Paper and Mr. Raymond Chen, Chariman & Chief Executive Officer (CEO) of CULINES, attended the signing ceremony and witnessed the s...

The Port Authority of Valencia (PAV) will present its commercial and service offer at the 14th edition of Cool Logistics 2022 and the China International Logistics and Supply Chain CILF trade fair being held in Barcelona and Shenzhen (China), respectively. The Commercial and Business Development area of the APV continues with its intense agenda of promoting Valenciaport’s activity in the main national and international events. Offer for refrigerated traffic Valenciaport will show at C...

On September 16, 2022, in Moscow, Russia, the Chairman of the Board of Directors of FESCO Transportation Group - Andrey Severilov held a meeting with Ambassador Extraordinary and Plenipotentiary of the Argentine Republic - Eduardo Antonio Zuain. The event was also attended by the Head of the Trade and Economic Section of the Argentine Embassy, Franco Ruggiero. Intermodal cargo transportation At the meeting, the parties discussed practical steps to develop cooperation in the field of...

Citi Treasury and Trade Solutions (TTS) Asia Pacific has completed its first pilot paperless trade finance transaction using the TradeLens platform. Leveraging blockchain technology supplied by TradeLens, the pilot illustrates the effectiveness of the technology to improve supply chain efficiency by significantly reducing document processing lead times. Paperless process With the underlying Letter of Credit executed using an electronic Bill of Lading (eBL), Citi Bangladesh facilitated the imp...

Cochin Shipyard Limited (CSL) has launched a startup policy to support start-ups in the global maritime sector. Key focus areas included in the start-up policy include: Smart technologies that automate Decarbonisation of Maritime Industry Artificial intelligence and machine learning to optimise processes Improving efficiency in the maritime sector processes free from human error Autonomous ships and ROVs Simulation Make life simpler and safer for users/stakeholders in the port and marit...

Back in February of 2022, OXE Marine announced the news of their collaboration with JET-TECH. The combination of OXE Marine’s belt drive and the JET-TECH (Jet-Tech Propulsion, LLC) water jet meant an astonishing 1:1 ratio of power to propulsion. Cut to a few months later and the company is now running beta and alpha testing in various applications.

The family owned food company Fontana Food is establishing at Stockholm Norvik Port, which will shorten their producer to consumer logistics chain. This in turn means more sustainable and cost effective transport, with Stockholm Norvik Port growing in its role as an important logistics hub in the Greater Stockholm area. Simpler logistics chain Fontana Food AB, a company that imports food products from the Mediterranean, is relocating parts of the company’s operations from Tyresö to...

Development Bank of Japan Inc. (DBJ) and ClassNK established "Zero-Emission Accelerating Ship Finance (Program)" to support the maritime industry's transition toward decarbonisation. As tightened environmental regulations and the future introduction of carbon pricing are expected in the maritime industry, DBJ and ClassNK have anticipated an increasing need for a system to reasonably evaluate the asset value of environmentally friendly ships and to combine them with investment and financing, and...

HMM has announced that the company has signed a Memorandum of Understanding (MoU) with PANASIA to collaborate on onboard carbon capture system for vessel application. Onboard carbon capture system is an advanced technology to capture CO2 (carbon dioxide) from greenhouse gas (GHG) emissions generated during vessel operation, ensuring it is not emitted into the atmosphere. This solution has the potential to play a significant role in reducing CO2 emissions. HMM and PANASIA sign MoU Under the te...

The Port of Long Beach has been named the best West Coast Seaport in North America for the fourth consecutive year by the shipping trade publication, Asia Cargo News. The honour was announced during the Asian Freight, Logistics and Supply Chain Awards, which were held recently in Hong Kong. Asia Cargo News hosts and organises the awards ceremony yearly to recognise the top seaports, shipping lines and other logistics industry leaders. Best West Coast Seaport To be named best West Coast Seapor...

Grand Départ Copenhagen Denmark (GDCD), a company set up in Denmark to handle and plan the Danish Tour start, chose Blue Water to plan all air transport out of Denmark. In the autumn of 2021, Blue Water began planning the transports. Right from the beginning, GDCD emphasised the importance for this event taking place in Denmark and the ability of the airlines to solve the task on the highest international level. Early in the process, they had a detailed plan for the aircraft and operator...

Tokyo-based Classification Society, ClassNK announced that it has signed a MoU (Memorandum of Understanding) with Maersk Training, regarding training for offshore wind farm operators and education for alternative fuel ship crews. Maersk Training Maersk Training is an international industry leader in developing competencies and increasing skills, with over 16 locations worldwide. With over 40 years of experience, Maersk Training specialises in delivering training for the Oil and Gas, Renewables...