Finance - News

NAPA, the maritime software, services, and data analysis provider, will work with ClassNK and Japanese general trading company Marubeni to assess what fuel and carbon emission savings could be achieved through voyage optimisation. Fleet Intelligence platform NAPA will use its Fleet Intelligence platform to retrospectively analyse the impact of EEXI using the actual vessel performance across Marubeni’s fleet and compare it against similar fleets. ClassNK will provide its expertise in...

Blue Water Shipping announced that they are expanding their operations in Malaysia. The company has been represented in Malaysia since 2009, and now the business is growing further. It has always been in the Blue Water DNA to be locally present on a global scale. With more than 60 offices worldwide, it is now time to further upgrade the setup in the Asia Pacific region. Delivering high quality logistics solutions Delivering logistics solutions of high quality is supported by having connection...

The first cruise ship of the season will arrive in Stockholm, Sweden, on 10th April, 2022. Despite the troubling international situation, the season has a lot of bookings, with many cruise ships booking extended stays. Stockholm is an extremely popular cruise destination and an obvious choice for shipping companies and travel organisers. World Odyssey is the first cruise ship of this season. She arrives at Frihamnen Port on the morning of 10th April, 2022 and will stay for four days. It is the...

The foundation project of the IMO Coordinated Actions to Reduce Emissions from Shipping (IMO CARES) project, which aims to bring stakeholders together from the global north and global south, was launched on 6th April at the IMO-Singapore Future of Shipping Conference. IMO CARES is expected to be a long-term programme. It will support coordination to promote innovation, research and development collaboration, accelerate the adoption of green technologies and facilitate their deployment in develo...

Babcock International Group (Babcock), the aerospace, defence and security firm, has signed a four year contract to deliver through life support to the Marinha do Brasil’s flagship vessel, NAM Atlântico, formerly the UK Royal Navy platform HMS Ocean, as part of its global support programme. Working hand-in-hand with their customers, Babcock’s key asset management activities include deep maintenance, in-service support, equipment and systems support, and through life engineerin...

MetOcean Telematics (MetOcean), is pleased to announce it has been awarded a five-year contract from the U.S. Department of Commerce – National Oceanic and Atmospheric Administration (NOAA), to supply NOAA’s Global Ocean Monitoring and Observing Laboratory, Atlantic Oceanographic and Meteorological Laboratory, and Pacific Marine Environmental Laboratory with critical real-time satellite connectivity, services, and support through the Iridium® satellite network (Iridium). MetOcea...

A consortium, led by the Global Maritime Forum. and consisting of BHP, Rio Tinto, Oldendorff Carriers, and Star Bulk Carriers Corp., have signed a letter of intent (LOI) to assess the development of an iron ore Green Corridor between Australia and East Asia. To mobilise demand for green shipping and to scale zero- or near-zero greenhouse gas emission shipping, governments and industry decision-makers are increasingly looking to enable and simplify the task of decarbonising the maritime sec...

The potential of hydrogen as a clean future fuel is a familiar talking point, but what’s the reality? Ocean Hyway Cluster, a specialist Norwegian trade body, gathers leading players to assess, demystify and enable developments within the maritime field, at The Maritime Hydrogen Conference. This unique conference is split into three main sessions, in order to help navigate hydrogen’s horizon. As such, partnership-based models, infrastructure (from both a shipowner and energy supplier...

The inland shipping department of Alphatron Marine is pleased to be present again at its well-known location, during the Maritime Industry 2022 trade fair (stand L-103). With an eye-catching stand, as Alphatron Marine also presents at other international fairs, the company will show their complete line of navigation and communication equipment for European inland shipping. Maritime Industry 2022 The sales and service team will be happy to provide visitors with information about Alphatron Mari...

SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Construct, install, and operate Under these contracts, SBM Offshore will construct, install, and then lease and operate the ONE GUYANA FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL....

The latest Indicator shows that the number of seafarers onboard vessels beyond the expiry of their contract has decreased slightly from 5% from 4.2% in the last month, while the number of seafarers onboard vessels for over 11 months has remained stable at 0.4%. This is the first decrease in numbers, albeit slight, since December 2021. The Neptune Indicator also reports a 4.4 percentage point increase in seafarer vaccines, from 72.8% in March to 77.2% in April, as seafarer vaccinations have sta...

Kongsberg Maritime (KM) is pleased to announce that it is dividing its industry-renowned propeller systems into three distinct categories, C-Line, P-Line, and X-Line. The idea is to ensure the provision of reliable, safe, high-quality and high-performing propeller solutions, which are adapted to all customer-specific requirements and pricing levels, building upon almost a century of hydrodynamic and engineering expertise. The demarcations are as follows. KONGSBERG Propeller...

Inmarsat, the globally renowned company in global, mobile satellite communications, has published a new decarbonisation report exploring the impact digital technology can make on shipping’s greenhouse gas (GHG) emissions. Compiled by maritime innovation consultancy - Thetius and sponsored by the Inmarsat Research Programme, The Optimal Route – The Why and How of Digital Decarbonisation in Shipping provides evidence that digital optimisation offers a key strategy for owners set on me...

MSC is proud to participate in Seafood Expo Global 2022, the world’s largest seafood trade fair featuring more than 2,000 exhibiting companies from 89 countries. The team will be showcasing MSC’s reefer cargo expertise and solutions designed to support seafood businesses, ensuring cargo arrives in perfect condition from the moment it is loaded until it reaches its delivery point. Reefer container fleets MSC operates one of the world’s largest and most advanced reefer contain...

Queensland Magnesia (QMAG), a supplier of magnesia products, became the first Oceania-based customer to choose Maersk ECO delivery to reduce the company's carbon footprint in transportation. By joining efforts towards decarbonisation, Maersk offers QMAG certified carbon neutral shipping based on sustainable biofuel, a solution to help QMAG to make progress towards its ambitious sustainability goals. Sustainable future “Partnerships are crucial to secure a sustainable future and no compa...

To preserve the unique tastes of different fish & seafood, supply chain journeys must also be unique for each. Whether fresh or frozen, what remains true for all is the need to eliminate multiple handovers, reduce waste, and race against shelf-life. Supply chain integration Integrating the supply chain from port to dock can help to overcome all these challenges. With A.P. Moller - Maersk’s state-of-the-art reefer technology and growing network of cold stores, ensure an unbroken supp...

The latest in-line shaft generator from ABB will enable ship operators to benefit from the efficiency, performance and reliability advantages of permanent magnet technology. The new generator brings flexibility and ease of installation to a wide range of vessels, including bulk carriers, container carriers, liquid natural gas tankers and ferries transporting passengers and cars. Permanent magnet shaft generator The AMZ 1400 permanent magnet shaft generator is optimised for converter control a...

Norwegian Cruise Line Holdings Ltd., a global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, and Huna Totem Corporation, one of the most successful Native village corporations in Alaska, jointly announced the signing of a Memorandum of Agreement to develop berthing and upland facilities in Whittier, Alaska. The privately funded development project will consist of a marine vessel docking facility able to berth vessels from the Comp...

MSC Group (Mediterranean Shipping Company) confirms that it has entered into a share purchase agreement with Bolloré Group, in relation to the 100% acquisition of Bolloré Africa Logistics (including all of Bolloré Group’s shipping, logistics and terminals operations in Africa, as well as its terminal operations in India, Haiti and in Timor-Leste) for a purchase price based on an enterprise value, net of minority interests, of 5.7 billion euros.  Acquisition of Bo...

MPC Container Ships ASA (‘MPCC’ or the ‘Company’, and together with its subsidiaries, the ‘Group’) is pleased to announce the following company update. The company update includes the Charter update on existing fleet. The update includes the following: Over the past weeks, MPCC has concluded five additional fixtures, including four multi-year charters at very favourable rates, securing employment up to 2027. The new fixtures add contracted charter revenue...

Inmarsat, the globally renowned company in global, mobile satellite communications, has unveiled e-learning technology and service provider, Marine Learning Systems (MLS) as the winner of the inaugural Inmarsat Ferry Open Innovation Challenge, a competition inviting start-ups and SMEs to propose digital solutions that promise to enhance the working lives of ferry crews. Launched in January 2022, in collaboration with the largest ferry operator in Greece, Attica Group, and UK digital consultancy...

MSC is delighted to be attending this year’s IHS Breakbulk and Project Cargo Conference. Taking place from 25-27 April 2022, the conference attracts the most specialised project and breakbulk cargo audience in the industry, and is a platform for essential and intensive networking, negotiations, and relationship-building within the project and breakbulk logistics supply chain. Dedicated customer service MSC will be promoting their solid expertise in oversized freight. Their project cargo...

Nor-Shipping is a globally renowned exhibition and event, which is based in Norway. This is where the maritime and ocean industries meet to connect, collaborate and facilitate sustainable success in the ocean space. Taking place every two years, Nor-Shipping operates as a hub for international decision-makers from both the private and public spheres. Nor-Shipping, global maritime exhibition Nor-Shipping is where ship owners and operators mix with politicians, equipment suppliers, NGOs Nor-Sh...

The day after the war broke out in Ukraine, Blue Water was contacted by a client who needed their assistance unloading four aircraft over the weekend. The aircraft would land at the Rzeszow-Jasionka Airport (RZE) in Poland about one and a half hour drive from the Ukrainian border. Safe cargo delivery  Blue Water's scope was to get the cargo safely to the border of Ukraine including the handling, counting, and reloading of the cargo and to make sure the delivery was complete. The next ste...

Rising COVID-19 cases in China, large-scale fuel stock-outs in Sri Lanka, and developments in Europe, among other global supply chain disruptions, have had an increasing impact on shipping volumes in Quarter 1 of 2022 and have exacerbated port congestion across the world. Demand remains incredibly strong, which continues to put increased pressure on the global supply chains, as capacity is still tied up outside ports in the US, Europe and Asia. Despite the disruptions witnessed across various r...

Babcock, the aerospace, defence, and security company, has signed a Memorandum of Understanding (MoU) with one of Korea’s largest shipyards Daewoo Shipbuilding & Marine Engineering (DSME) to collaborate on systems integration programmes for future vessels. This follows the MoU signing between Babcock and Hyundai Heavy Industries (HHI) in June 2021 to focus on the South Korean Navy’s future light aircraft carrier project opportunity, CVX.  Ongoing operational support Babco...

BAE Systems recently celebrated the best suppliers and subcontractors to its ship repair business for 2021 during a ‘Partner2Win’ Supplier ceremony on March 16, doling out dozens of awards for companies that successfully supported the maintenance of U.S. Navy ships and commercial vessels. ‘Partner2Win’ programme BAE Systems Ship Repair recognised 119 suppliers for achieving outstanding results in supporting repair and modernisation projects aboard more than 30 naval and...

Pacific International Lines (PIL) is pleased to introduce a new weekly direct service, connecting the key ports in China, Vietnam, Singapore and India’s East Coast. The new service, known as China Vietnam India Service (CVI), will commence on 22 April 2022 from Ningbo, China. It will be served by a consortium of vessels with an average capacity of 2200 TEUs, jointly deployed by PIL, Regional Container Lines (RCL) and Interasia Lines (IAL). China Vietnam India Service (CVI) The new C...

The American people are looking for solutions to supply chain congestion resulting from the impacts of COVID-19. Unfortunately, the Ocean Shipping Reform Act of 2022, S.3580, which was marked up by the Senate Commerce Committee, addresses none of the root causes of the U.S. landside congestion. Americans continue to import goods at record levels—so much so that the U.S. ports and landside logistics workforce is unable to process all the cargo. Ocean carriers have deployed every vessel and...

Crowley has successfully managed the acquisition of the MV Honor, the first vessel acquisition under its contract, in order to help recapitalise a sealift fleet, with the U.S. Maritime Administration (MARAD). With the forthcoming acquisition of the MV Freedom, vehicle carriers are part of the multi-year vessel acquisition and management contract, designed to help recapitalise the U.S. Ready Reserve Force. The acquisitions will enhance the Ready Reserve Force, by increasing ship reliability an...