Finance - News

International shipping accounts for approximately 3% of global Greenhouse Gas (GHG) emissions, and this will increase in a business-as-usual scenario. To decarbonise the maritime industry, there will be a massive need for green fuels and associated technologies. In particular, scalable zero-emission fuels (SZEF) such as green hydrogen and green ammonia are considered the most promising fuels for shipping’s energy transition. Author's quote “In the past years, the global maritime i...

Maersk successfully completed the first India-Bangladesh cross-border logistics of containerised cargo using the inland waterways of the Indo-Bangladesh Protocol Route for Coca-Cola Bangladesh Beverages. By transporting 50 containers (TEUs or Twenty Feet Equivalent Units) from Kolkata in India to a river port near Dhaka in Bangladesh on a barge on the National Waterways 1 on the India side, Maersk has created a new opportunity for customers to use the faster, more reliable inland waterways solu...

SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. Project loan The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan is in line with the duration of the...

Ingeteam has started manufacturing the first units of its new INGECON H2 C-lyzer converter in Sesma (Navarre), for the Green H2 sector. The first orders for the green hydrogen converters will be installed in Belgium, California (in the United States of America - USA) and Bizkaia (Spain). INGECON H2 C-lyzer converters Ingeteam’s INGECON H2 C-lyzer converters are responsible for supplying direct current Ingeteam’s INGECON H2 C-lyzer converters are responsible for supplying direct c...

Mersey Maritime is delighted to announce the appointment of Commodore Phil Waterhouse to its management board with immediate effect. Commodore Waterhouse is the Naval Regional Commander for Northern England and the Isle of Man. As such, he is the First Sea Lord’s Ambassador for the region, with the task of ensuring that the work of the Royal Navy is understood, respected and valued by the community it serves. He has been in this role since 2017. New appointment in Mersey Maritime Board...

On 13th July 2022, the Chairman & CEO of CULINES Mr. Raymond Chen visited Saigon Newport Corporation (hereinafter referred to as SNP) with team members of Network Planning & Cooperation, Trade, and Operation. President - Mr. Thuan and Vice President - Mr. Quy of SNP, along with Department Directors welcomed CULINES and held a meeting. During the meeting, the two parties exchanged ideas on deepening cooperation in areas such as shipping and value-added logistics services. Both will as al...

SCH’s (Southampton Cargo Handling Plc) sister company - Cruise and Passenger Services Ltd (CPS) has expanded its cruise parking operations in Liverpool, United Kingdom (UK), with the acquisition of a new secure compound for passenger vehicles. The site located adjacent to Liverpool Cruise Terminal (LCT) can accommodate over 100 cars and will enhance the service provided by LCT for passengers who are boarding cruise ships in the port of Liverpool. Cruise and Passenger Services Ltd (CPS)...

Pacific International Lines (PIL) is pleased to announce the launch of two new initiatives which would further enhance its operational efficiencies and strengthen the capabilities of its sea crew in navigation safety. 1) PIL Centre for Maritime Efficiency (CME) The first initiative launched is the opening of its new Centre for Maritime Efficiency (CME). The key role of CME is to enable PIL to grow its competencies in managing ship and fleet energy-efficiency performance as part of PIL&rsqu...

Unifeeder is delighted to announce that they have signed a three-year deal with technology company -  ZeroNorth, as part of their green agenda strategy. The deal will see Unifeeder implement the full suite of services included in ZeroNorth’s platform, as well as ClearLynx’s bunker solution, as part of the company’s ambitious decarbonisation efforts and green agenda strategy. Unifeeder – ZeroNorth partnership The partnership with ZeroNorth will give the Unifeeder f...

NLV PHAROS, one of the two Northern Lighthouse Board (NLB) ships which service and maintain the lighthouses and other marine Aids to Navigation in Scotland and the Isle of Man will be berthed alongside the Victoria Pier, Douglas Harbour in July 2022. The vessel - NLV PHAROS will be holding open days on Saturday - 23 July, 2022 and Sunday - 24 July, 2022, from 2 pm to 4 pm, when the public will get a chance to have a tour of the ship and find out about the work of the Northern Lighthouse Board....

Thirty women from maritime administrations across the globe have completed the first-ever Leadership Accelerator Programme (LEAP) run by Maritime SheEO, designed to equip women with leadership skills and the confidence to progress in their careers. A virtual graduation ceremony for participants was held on 30 June 2022. The programme, which ran over eight weeks, was announced in November 2020 and launched on International Women's Day in March 2022. It was part of the IMO's Women in Maritime pro...

The USA (United States of America) is already a top exporter of liquefied natural gas (LNG), but the current global energy landscape is requiring a huge effort from the industry community, in order to build additional infrastructure in record time. Natural gas is methane and the liquefaction process is used for transportation on long distances, such as between continents, where pipelines solutions are not viable. The volume of the LNG is 1/600th of its volume as gas. Building modular floating...

The Valencia Container Freight Index (VCFI) for June 2022 has broken its upward trend with a decrease of -2.19% compared to the previous month. Since July 2020, when it fell by 2.72%, the trend has been one of constant growth (except for February 2022 with -0.19%). The Index stands at 4,647.32 points, accumulating a growth of 364.73% since the beginning of the series in 2018. As for the different areas that make up the VCFI, the general trend has been downward, with the Central America and Car...

Orbital, the renewable energy company focused on the development and global deployment of its pioneering floating tidal stream turbine technology, has been awarded two contracts for difference (CfDs) in the UK Allocation Round 4 (AR4) process. This is a significant milestone in the company’s growth, with these CfDs underpinning the delivery of multi-turbine projects in Eday, Orkney. Capable of delivering 7.2MW of predictable clean energy to the grid once completed, these Orbital tidal str...

HMM announces that it has acquired ISO 45001, internationally-recognized certification in the field of safety and health management, from the Korean Register (KR).    ISO 45001 is the first international standard for safety and health management systems, established in 2018 by the International Organization for Standardization (ISO). HMM has demonstrated its comprehensive efforts and organisational capabilities by preventing risk factors and industrial accidents in the workplace. ...

International Maritime Organization (IMO) representatives at the United Nations Ocean Conference 2022 in Lisbon, Portugal (from June 27 to July 1, 2022) have highlighted the IMO’s ongoing commitment to preserving the world’s ocean and combating climate change. IMO Secretary-General Kitack Lim emphasized shipping’s truly international nature. He said, “The ocean truly sustains us all, and the maritime sector connects us all. A greener, resilient maritime sector is essenti...

Hanseaticsoft, part of Lloyd's Register’s Maritime Performance Services division, a global provider of ship management software and Kaiko Systems, a renowned provider of a user-friendly data collection and analysis tool, have announced that they will be integrating their systems to ease technical management and increase collaboration between vessels and staff on shore. Hanseaticsoft offers a cloud-based management system for shipping and ship management companies, Cloud Fleet Manager (CFM...

Marine Resources is partnering with Premier Marinas to attract the next generation of talent into short-term and permanent roles. Premier Marinas own and operate ten marinas, along the South Coast and has a wide range of job roles and career options on offer for those excited to gain a foothold in this thriving sector. "We absolutely love working with leading brands here at Marine Resources and Premier Marinas is just that” said James Ward, the Chief Executive Officer (CEO) and Founder of...

Tokyo-based Classification Society - ClassNK has released the latest ‘ClassNK Technical Journal’, which has been published for contributing to the development of the maritime industry, through the outcome of R&D (Research & Development) and technical activities. ClassNK Technical Journal The latest issue ‘ClassNK Technical Journal No.5 2022 (I)’ focuses on ‘Zero-Emission Ships’, including efforts of the planning and design of next-generation greener...

Together with partners - MPC Container Ships ASA and MPC Capital AG, Topeka has contracted two 1300 TEU carbon neutral container vessels. Both vessels will be delivered in 2024 and immediately move into long-term contracts with North Sea Container Line. Carbon neutral container vessels Benefitting from dramatically reduced emissions, the two new-build ships will replace three of North Sea Container Line’s (NCL) current diesel-powered vessels, which will be phased out of operations. ...

MPC Container Ships ASA is pleased to announce the following company update: MPCC has contracted two carbon-neutral 1,300 TEU newbuildings at Chinese-based shipyard Taizhou Sanfu Ship Engineering for delivery in the second half of 2024. The vessels come with a dual fuel engine setup which enables operation on methanol as well as conventional MGO, allowing MPCC to take a significant leap forward in its commitment to use carbon-neutral solutions in regional container trades together with stron...

Kongsberg Defence & Aerospace (KONGSBERG) has entered into an agreement to acquire Lithuanian smallsat mission integrator and bus manufacturer - NanoAvionics. The planned acquisition expands KONGSBERG’s space offering to also have products and technology for manufacturing small satellites. NanoAvionics is a globally renowned smallsat mission integrator and bus manufacturer with significant global growth in recent years, including expansions into the United Kingdom and the United State...

Pacific International Lines (PIL) is pleased to announce the award of a contract to Yangzijiang Shipbuilding for the construction of four 8,000 TEU Liquefied Natural Gas (LNG) dual-fuel container vessels. These vessels will each be equipped with an ammonia intermediate ready fuel tank. The four vessels will be delivered progressively in 2025. Contract for 8,000 TEU LNG dual-fuel vessels We have decided to place an order for an additional four 8,000 TEU LNG dual-fuel vessels for two key reas...

The latest Neptune Indicator research shows that the number of seafarers onboard vessels beyond the expiry of their contract has decreased slightly to 4.2% from 4.3% in the last month, while the number of seafarers onboard vessels for over 11 months has remained stable at 0.3%. For the eighth consecutive month, Global Maritime Forum observe little change in the numbers reported, as it confirm the entry into a ‘new normal’. The Neptune Indicator also reports a 2.8 percentage point in...

Orbital Marine Power (Orbital), the renewable energy company focused on the development and global deployment of its pioneering floating tidal turbine technology, has reached a significant operational funding milestone. New investment secured from the Scottish National Investment Bank and individuals via the Abundance Investment platform will finance the ongoing operation of the O2, the company’s 2MW+ floating turbine. These debt facilities will be serviced by the long-term sale of electr...

Tokyo-based Classification Society – ClassNK has released the latest version 2.0.0 of ‘PrimeShip-PSC Intelligence’, a mobile app to assist the improvement of Port State Control (PSC) performance and ship management systems, provided free of charge. ‘PrimeShip-PSC Intelligence’ app Based on the database of PSC reports inputted by ship managers, ship owners and ClassNK, ‘PrimeShip-PSC Intelligence’ mobile app provides various functions, in order to help...

One of Orbital’s key objectives is reducing carbon emissions by harnessing an entirely untapped source of renewable energy. In doing so, the company aim to help restore oceans after what has been a disastrous decline in species and ocean health over the past two centuries. UK is fortunate that it has a well-established environmental licensing framework for the deployment of tidal turbines in the marine environment, which has led to extensive environmental characterisation and monitoring o...

A global pandemic, the war in Europe since 1945, rising temperatures caused by climate change, and severe disruptions to global supply chains have created new uncertainties for the maritime sector. The Global Maritime Forum’s Annual Summit will bring together top decision-makers, thought providers, and experts from across the maritime spectrum and beyond, to make sense of what these challenges mean for the maritime industry and to collectively identify ways in which they can take action t...

The Board of Directors of Pacific International Lines (PIL) is pleased to announce the appointment of Mr. Lars Kastrup as the new Chief Executive Officer (CEO) of PIL, effective from 1 July, 2022. As the new Chief Executive Officer (CEO) of Pacific International Lines, Lars Kastrup is responsible for leading PIL’s continued growth and development, including its sustainability transformation path towards net zero carbon emissions. Industry veteran appointed Chief Executive Officer (CEO)...

The Port of Valencia has welcomed the Iacobus Maris fleet, the sailing ships taking part in the longest maritime Xacobean route in history, which departed from the port of Genoa bound for Galicia. The President of the Port Authority of Valencia (PAV), Aurelio Martinez, has held a meeting with the honorary consul of Italy, Adriano Carbone to coordinate the presence of the fleet that will remain in the Port of Valencia until Sunday. Lacobus Maris Route The Iacobus Maris Route commemorates the j...