Finance - News

SMEs who make up 99.8 percent of all businesses in the UK are invited to meet this week with UK government Trade teams at Seawork 2022. SME maritime network Vessel builders and marine technology and services companies are invited to join the maritime teams at stand G39, to find out how the Department for International Trade (DIT), UK Export Finance, and the National Shipbuilding Office can help to develop and win business in the UK and overseas. National Maritime is the UK’s largest SME...

As plans emerge that Maritime UK (MUK) is to support several potential stakeholders to establish a South East regional cluster organisation reportedly led by Dieter Jaenicke, Viking Maritime Group, they do welcome the continued emergence of MUK as a single leadership association for the maritime sector, as it strives to act as a conduit for bringing coherent sector support and reduced bureaucracy to add weight to arguments for infrastructure improvements and destination making, to stimulate econ...

The international marine specialist recruitment company - Marine Resources (Marine Resources Recruitment Ltd) have joined forces with the former President of the Chicago-based National Marine Manufacturers Association (NMMA), Dr. Thomas Dammrich and the former Editor and Owner of International Boat Industry magazine - Nick Hopkinson. This partnership aims to offer businesses in the leisure marine industry assistance with identifying and recruiting key management personnel. Bespoke head-hunting...

The Normal Amsterdam Water Level (NAP) has been used as the basis for Vessel Traffic Services in the port of Rotterdam for approximately 200 years now. On 1 July, 2022, the Port of Rotterdam Authority will abandon the Normal Amsterdam Water Level (NAP) in shipping communication. Effective from July 1, 2022, the Port of Rotterdam Authority will use the Approximate Lowest Astronomical Tide (ALAT) as a reference for water depths and water levels in the admission policy. Internationally,...

Nor-Shipping 2023, which is scheduled to take place from June 6 to June 9, 2023, looks set to build on the success of Nor-Shipping 2022 event, with strong early sales and commitments from numerous national pavilions to return to the exhibiting fold. A total of 14 countries have so far secured dedicated pavilions to showcase local expertise, including Singapore and Japan at Nor-Shipping 2023 exhibition. In addition, individual organisations, such as Siemens, ABB, DNV (with two stands), NCE Marit...

In early June 2022, representatives of shipping companies and Customs authorities from across the globe came together, in order to discuss ways to step up the fight against drug trafficking. The Conference was organised by the World Shipping Council (WSC) and the Container Control Programme (CCP), which is a joint initiative between the UN Office on Drugs and Crime (UNODC) and the World Customs Organization (WCO). UNODC 2021 World Drug Report According to the UNODC 2021 World Drug Report, aro...

It’s been another bumper month for long-term contracted ocean freight rates, as the cost of securing container shipments climbed by 10.1% in June 2022. Following on the heels of a record 30.1% hike in May 2022, this now means rates stand 169.8% higher than this time in 2021, with just two months of declines in the last 18 months. Despite a degree of macro-economic uncertainty clouding the horizon, all major trades saw prices moving up, with some corridors showing significant gains. Xenet...

On 29 June 2022, the ceremony for the naming and delivery of CULINES container newbuilding - CUL YANGPU & the signing of the strategic cooperation memorandum on Shipping Industry Fund was held at Huangpu Wenchong Shipbuilding in Nansha, Guangzhou, China. Huiming Xiang (Chairman at Huangpu Wenchong Shipbuilding), Kevin Ding (EVP at CULIES), Huiyu Wu (Part Committee Secretary & Chairman at Hainan Financial Holdings), and Jianmin Wang (Port & Shipping COO, Administration Committee of Y...

The Port Authority of Valencia (PAV) and the Provincial Council of Valencia have organised the first ‘Cruise Tourism’ training course, aimed at municipal technicians and tourism agents. A meeting point to expand the tourist offer, offered by the destination of Valencia for cruise passengers, with sustainable experiences in municipalities of the province, beyond the city of Valencia, and to work to deseasonalise cruise tourism that calls at the Port of Valencia, in Spain. From the p...

Chris Cooper has been appointed President of Neste US, effective from 1 July 2022. In his new role, he is responsible for supporting and aligning regional business strategies to deliver strategic growth targets, and he acts as Neste’s primary representative for the external community in the US. At the moment, Chris Cooper is holding the position of Vice President of Americas of Neste Renewable Aviation. Accelerate renewable growth strategy “The US presents important opportunities...

Seafarers are sharing their maritime voyages across social media to mark the Day of the Seafarer 2022.  The maritime world is changing, fast. Ships are now operating greener, with greater digitisation and with more diverse crews. As the lifeblood of the shipping industry, seafarers are at the heart of this evolution, implementing new regulations, learning new skills and adopting safer, more efficient working practices. As the world’s merchant fleet traverses the oceans, the crews onboard...

What should maritime stakeholders focus on in the coming years to accelerate maritime decarbonisation? At this week’s Getting to Zero Coalition Workshop, participating Coalition members collaborated on detailing out an action plan to make the full decarbonisation of shipping concrete and tangible. Participants focused on the combination and acceleration of four change levers: technology on land and on board, mobilising demand, financing, and policy. Accelerating shipping decarbonisation...

Ocean Infinity, in pursuit of its’ objective of transforming maritime operations through the deployment of innovative technologies, is excited to announce the development of zero-emission, remotely operated, and autonomous ready, short sea container vessels that will operate between Norway and the Netherlands, creating one of Europe’s first zero-emission maritime ‘green corridors’.   SeaShuttle programme In partnership with Samskip B.V, a global logistics comp...

Korea Shipbuilding & Offshore Engineering (KSOE) and its subsidiary - Hyundai Heavy Industries (HHI) have received an Approval in Principle (AiP) from DNV for their newly developed waste heat-derived LNG fuel supply system - Hi-eGAS (Hyundai High Efficient Gas Supply System) for 300K VLCC. Currently, LNG fuel propulsion ships have used boilers to make hot steam, which has converted LNG into a gas at room temperature, to supply a ship’s engine. However, this process has the disadvantag...

Globally renowned fleet optimisation provider and Lloyd’s Register subsidiary, i4 Insight, has joined forces with data collection pioneers, Danelec Marine (Danelec), to solve fleet performance challenges. This new industry partnership, which brings together specialists in data collection and data analysis, will mean customers can get a more cost-effective solution to vessel optimisation. i4 Insight - Danelec Marine partnership As the maritime sector deals with digital transformation and...

Pacific International Lines (PIL) is pleased to introduce a new weekly direct service linking China and Korea with four key countries in South America - Mexico, Guatemala, Colombia and Chile. The new service, known as West Coast South America 6 (WS6), will commence on 13 July 2022 from Ningbo, China. West Coast South America 6 (WS6) West Coast South America 6 (WS6) aims to augment PIL’s existing two services - WS2 and WSA West Coast South America 6 (WS6) aims to augment PIL’s...

Nor Shipping has revealed that #PartnerShip will be the main theme of next year’s event - Nor-Shipping 2023, as it looks to enable, support and showcase ways of working together to achieve commercial goals. The week-long programme, Nor-Shipping 2023, running from June 6 to June 9, 2023, will now tailor its exhibition, knowledge sharing and networking opportunities, in order to nurture and strengthen collaboration across ocean businesses. Individual strength, collective gain The industry...

Blue Water’s Aid & Development Logistics team was contacted by a customer regarding the transport of a special shipment from Shanghai, China to the NGO Hope Walks in Addis Ababa, Ethiopia. The transport faced challenges due to container shortages in Shanghai and fully booked vessels as a consequence of COVID-19. However, Blue Water succeeded in finding a container as well as booking space on the required vessel thus saving the transport. Medical supply delivery  The contact wit...

Ultramag is back exhibiting at Seawork 2022, which is taking place in Southampton, United Kingdom (UK) and will present over the 3 days of the exhibition, featuring the Managing Director, General Manager, NDT Manager, and one of Ultramag’s young Apprentices. Various items of test equipment were on show covering the inspection of composite materials; with plenty of interest in the testing and inspection capabilities and training programs on offer.

SCH’s sister company Cruise and Passenger Services (CPS) is to sponsor the latest meeting of the industry association Cruise Britain in Portsmouth on June 21-22. The professional network of British ports, ground handlers, and port agents plays a key role in promoting Britain to the global cruise industry and the meeting in Portsmouth will give CPS the opportunity to show off its offering as a passenger valet parking supplier. Passenger valet parking The two-day meeting will start with a...

Wilhelmsen Ships Service (Wilhelmsen) is pleased to announce that they have entered into an agreement with Seven Seas, to acquire 100% of their shares in their subsidiary company - Stromme. When first established in 1971, Stromme became the first specialised cargo hold cleaning company in the marine industry. The company is a renowned global player with extensive specialised experience within their field, providing customers with high quality solutions and innovations for cargo hold cleaning, w...

Finding a project freight forwarder users can trust to handle the oversized or hard-to-move cargo is more critical now in 2022 than ever before. With new challenges around global shipping and varying COVID-19 laws and guidelines per region or per country, having a hands-on, experienced team is a key asset in project planning. TGI Cargo pride itself on being not just a service provider to clients but a true end-to-end partner, working with users to find tailored solutions for their freight needs...

Mersey Maritime was conceived almost twenty years ago to create an ecosystem, championing and supporting one of the most diverse maritime regions in the UK. Created as a not-for-profit organisation with more than 200 active members, Mersey Maritime spans more than 33 sub-sectors of maritime and its related supply chain, including ports, shipping, offshore, engineering, professional services, logistics, manufacturing, and academia. Mersey Maritime Chris Shirling Rooke, the Chief Executive Offi...

Lloyd’s Register (LR), a global provider of maritime professional services, has acquired OneOcean, a renowned supplier of voyage compliance, safety and environmental solutions, from Equistone Partners Europe (Equistone), a renowned European mid-market private equity firm. The move will accelerate Lloyd Register’s ambitions to be the maritime industry’s trusted adviser for compliance, safety, performance and sustainability solutions, enabling clients to benefit from more effici...

The specialised module is used by shipping companies worldwide for complex purchasing requirements and diverse workflows in the maritime business, enabling comprehensive efficiency gains and cost savings. As Montec management operations have grown over the years, requirements and complexity have increased. “We started with two vessels, and we are now managing 12 vessels,” says Igor Bondar, Technical Director of Montec. Fleet management activities “We have achieved a company...

Electric ferry - Ellen sailed 50 nautical miles – 92 kilometres – on a single battery charge, during the International Energy Agency’s 7th Annual Conference on Energy Efficiency. The distance marks a new world record. The islands of Ærø and Als in Southern Denmark are connected by Ellen, the longest ranging fully electric ferry in the world. Electric ferry – Ellen sets world record Ellen set a new world record on June 9, 2022, just outside the windows in S...

Tokyo - Leading Classification Society, ClassNK has granted its Innovation Endorsement for Products & Solutions to the Octamar Combustion Catalyst Series of Innospec Limited, a subsidiary of Innospec Inc. and manufactures and distributes specialty chemicals. In July 2020, in order to promote the spread and development of innovative technologies, ClassNK launched Innovation Endorsement as a swift certification service, in cooperation with technological front runners, so as to establish appro...

As owners of powered vessels look to maximise fuel efficiency, in light of the rising cost of fuel, New Zealand based foul-release coatings company - Propspeed reports that use of its Propspeed coatings could improve hourly fuel usage and increase boat speed. Matt Forbes, the Sales Director – EMEA at Propspeed, explains “Research has shown that propellers with as little as 16.6 micrometres of roughness can result in a 5% efficiency loss. Although fouling might not look significant -...

Radio Holland is awarded with a Managed Service Agreement (MSA) for the entire ALP Maritime Services fleet. The companies have been working together in the global maritime market for more than ten years. The longstanding partnership involves the complete install base in navigation and communication equipment. ALP, established in January 2010, is a specialist in ocean towing, offshore positioning and mooring of floating platforms, heavy transport and salvage operations. Quick response support...

Propspeed, the global innovator of underwater foul-release coatings, has announced that Garmin has tested its Propspeed Foulfree foul-release coating system and found it to be effective for keeping its transducers clean and free from marine growth. “We are proud to have worked closely with Garmin engineers to ensure compatibility with and maximum performance from their transducers,” said Chris Baird, the Chief Executive Officer (CEO) at Propspeed. Propspeed and Garmin partnership...