Finance - News

On March 9, 2022, at a digital ceremony, MAN Energy Solutions and classification society, DNV, signed a Memorandum of Understanding (MoU). Effective immediately, the Memorandum of Understanding is due to run for a period of three years. Under the terms of the memorandum, the two companies will – by June 30th, 2022 – detail action plans within the fields of decarbonisation, the hydrogen value-chain and digitalisation. MAN Energy Solutions – DNV sign MoU Dr. Uwe Lauber, the Ch...

The Seafarers’ Charity’s UK Maritime Anchor Fund supports working-age UK merchant seafarers. The Fund is open for applications for those impacted by the P&O Ferries redundancies. The Fund will support seafarers through financial help, advice, relationship counselling, and mental health and well-being support and counselling. UK Maritime Anchor Fund The UK Maritime Anchor Fund was created in 2020 with key delivery partner charities to provide an end-to-end package...

The 12 talks take place in the Blue Economy Hall at Nor-Shipping’s Lillestrøm exhibition facilities, with hour-long sessions focusing on future strategies, solutions, and building partnerships capable of delivering sustainable ocean success. Nor-Shipping Director Sidsel Norvik says the programme offers ‘an unmissable opportunity’ to see ‘an industry A-list debating how to transform ocean ambition into reality.’ Nor-Shipping 2022 runs in Oslo and Lillestr&osl...

Commenting on the decision by P&O Ferries to dismiss 800 seafarers, a spokesperson for Maritime UK said “We are a membership organisation, but when we disagree with the actions of one of our companies, we should say so. We fully appreciate the challenges that some of our maritime businesses have faced, largely as a result of the COVID-19 pandemic, and that for some, this has resulted in very difficult decisions having to be made.” The Maritime UK spokesperson’s adds, &ldqu...

Clarksons Port Services (CPS) is advising businesses not to panic if they have outstanding supplementary declarations following the 175 day cut-off and they can still be completed. Supplementary declarations must be made after a business has completed an entry in its records or a simplified frontier declaration. However, if a business is bringing uncontrolled goods into Great Britain, it may be able to declare the goods by entering them in its records without getting authorisation in advance an...

MSC is pleased to be part of the Freight Logistics Optimization Works (FLOW) data-sharing initiative, launched at the White House on 15 March 2022. This major project will help to clear supply chain bottlenecks by improving freight information exchange between key stakeholders – leading to the faster delivery time and reduced costs for consumers. A diverse taskforce representing many stakeholders FLOW includes 18 initial participants, with the aim of welcoming more in the futur...

MetOcean Telematics is pleased to announce that they will be exhibiting at Fish Canada Workboat Canada 2022 in Moncton, New Brunswick, Canada, from March 25-26, 2022. They are looking forward to connecting with partners and attendees in the industry, and showcasing their latest MetOcean systems and Iridium products. Attendees for the event can visit the MetOcean Telematics team at booth 639. Fish Canada Workboat Canada (FCWC) Fish Canada Workboat Canada (FCWC) is the country’s largest c...

Local New Zealand businesses are set to reap the benefits of a partnership between Babcock and the New Zealand Defence Force (NZDF) which will conduct maintenance and upgrade works on two decommissioned Royal New Zealand Navy (RNZN) Inshore Patrol Vessels before they are sold to the Republic of Ireland. Babcock and NZDF will regenerate and modify the ships – ex HMNZS Rotoiti and HMNZS Pukaki – to operational seaworthiness standards, supported by Babcock’s extensive supply chai...

Atlas Copco has agreed to acquire LEWA GmbH and its subsidiaries, and Geveke B.V. and its subsidiaries, for a combined enterprise value of MEUR 670 (BSEK 7.15). LEWA GmbH is a globally renowned manufacturer of diaphragm metering pumps, process pumps and complete metering systems. Geveke B.V. distributes compressors and engineers advanced and complex process pump installations. Acquisition of LEWA GmbH LEWA GmbH was founded in 1952 and is based in Germany. The company has around 1200 employees...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed investment into Marindows Inc., a Tokyo-based firm, aiming to utilise the revolution in information technology to build an integrated digital platform for the marine industry. Amid the current energy revolution, this partnership will accelerate efforts to achieve a carbon neutral world in areas from electrification and autonomous operation to the marine industry, create new value by merging the p...

Performance Team – A Maersk Company continues to integrate end-to-end cold chains with the announcement of a new cold storage facility in Houston designed to serve imports and exports. “As we continue to expand our network in North America, providing customer-centered solutions this new facility will provide best-in-class cold chain services by integrating our services, technologies and optimising cold chain logistics efficiencies,” said Jason Walker, Executive Vice President...

James Fisher, a global provider of innovative marine solutions and specialised engineering services, has signed a charter agreement with Go Marine Group for the exclusive use of the multi-purpose service vessel, Go Electra, adding much needed security for customers, amid cost and supply chain crunches in the industry. The agreement will see the boat used, throughout the remainder of 2022, by James Fisher’s marine group brands, James Fisher Renewables (JF Renewables) and James Fisher Subte...

The fourth publication by Maritime UK’s Board of Trade sets out how the United Kingdom (UK) can deliver the trade benefits of the National Shipbuilding Strategy refresh. This paper puts forward the Board of Trade’s thoughts on: Global trends and the importance of the maritime industry to trade. UK strengths and opportunities within the maritime sector. How trade and investment solutions can address challenges in the global maritime sector. Board of Trade publication UK Secr...

The very best of the UK’s maritime sector was celebrated at Maritime UK Awards in Glasgow. Hundreds of maritime businesses gathered for an awards ceremony hosted by RTS Scotland award-winning broadcaster, Jennifer Reoch, at the Glasgow Science Centre on the banks of the River Clyde. Fourteen awards were given out at the third annual Maritime UK awards, which celebrate organisations and individuals from the entire spectrum of the sector from leisure marine to shipping, professional servi...

The technology group, Wärtsilä (Wärtsilä Corporation) has secured a new agreement for its exhaust gas cleaning systems to be installed on two newbuild 218m roll-on/roll-off passenger vessels (RoPax) at Guangzhou Shipyard International (GSI) in China. V-SOx hybrid scrubber systems The contract, which was signed in February 2022, will see Wärtsilä fit and commission two 25-megawatt V-SOx hybrid scrubber systems, which can run in both open and closed loop configurati...

Crowley has joined forces with Insurtech MGA, Loadsure to help accelerate the development of proprietary smart technology serving the global cargo and freight insurance market by investing in the $11 million Series A funding round. Crowley’s involvement aligns with the company’s strategic growth strategy to innovate the value chain and create visibility and efficiency for partners and customers who are demanding more accessible and agile paths to reduce risk. Cargo insurance innova...

Maritime UK has welcomed today's National Shipbuilding Strategy (NSS) as a “major turning point” for the industry, helping put the sector on track to be the world's most competitive maritime nation by 2050. Announced by the Prime Minister in Merseyside, the NSS contains plans to boost the competitiveness and productivity of UK shipbuilding, which the Prime Minister has identified as one of his major policy priorities. This includes more than £200m funding for green maritime...

Nor-Shipping has seized on International Women’s Day to sign up to the new, 40 by 30 initiative from WISTA Norway. This focuses on increasing female participation in maritime, with a goal of boosting the number of women in leading industry management positions in Norway from today’s level of 15% to 40% by 2030. Nor-Shipping – WISTA partnership Nor-Shipping - Your Arena for Ocean Solutions, has partnered with WISTA for over a decade, highlighting campaigns and hosting the Wave...

Golden Ocean Group Limited, the owner of large size dry bulk vessels, announces the sale of three of its oldest Panamax vessels, Golden Empress, Golden Enterprise, and Golden Endeavour, delivered in 2010 and 2011, as part of the Company’s ongoing strategy to ensure that it operates a modern, fuel-efficient fleet with a reduced emissions profile. The combined sales price of the three vessels is $52.0 million, and the Company expects to record a gain from the sales of approximately $9.6 mil...

ZIM Integrated Shipping Services Ltd. announces the launch of ZIM Ecommerce Baltimore Express (ZXB), a new and speedy e-commerce service, in March 2022. ZXB will operate on the following route: Yantian – Cai Mep - Baltimore – New York – Boston – Yantian. The service will commence with a bi-weekly frequency and build up to weekly within a few months. The exact schedule and vessels lineup will be published in the coming days. Customer service offering ZXB will be operate...

The Nigerian Maritime Administration and SafetyAgency, NIMASA, and the Nigerian Meteorological Agency, NiMet, have signed a Memorandum of Understanding (MoU) setting out areas of collaboration in weather forecasting and climate research. Director-General NIMASA, Dr. Bashir Jamoh, and his counterpart from NiMet, Prof Mansur Bako Matazu signed on behalf of both Agencies of government. Meteorological services The MoU is designed as a framework for NiMet to provide meteorological services for...

Maritime UK is calling upon the sector to #BreaktheBias and commit to gender equality in 2022 and beyond. This year’s International Women’s Day (IWD) theme – ‘Gender equality today for a sustainable tomorrow’ recognises the contribution of women and girls around the world, who are leading the charge on climate change adaptation, mitigation, and response, to build a more sustainable future for all. Breaking the gender bias Maritime UK plans to spotlight all the wo...

A.P. Moller - Maersk’s strategy is to offer integrated solutions for smooth and optimised cargo flows that can span across all steps of the supply chain and create value for customers in the form of better supply chain outcomes, increased transparency, and control, and ultimately lower end-to-end costs. This vision is being delivered by combining the broad product and service offering of ‘Logistics & Services’ with the highly reliable and more differentiated ‘Ocean&r...

Babcock International, the aerospace, defence, and security company, has been selected as the platform design provider and technology partner for Poland’s MIECZNIK (Swordfish) new frigate programme, and concluded a set of strategic cooperation agreements with the PGZ-MIECZNIK Consortium, which is responsible for delivery of the project from the Polish side. The Polish Armaments Agency selected Babcock’s Arrowhead 140 (AH140) from three different platform design proposals provided by...

Pacific International Lines (PIL) is pleased to announce the award of a contract to Jiangnan Shipyard (Group), for the construction of four 14,000 TEU container vessels. The vessels will be equipped with dual-fuel engines and auxiliaries that can run on both Liquefied Natural Gas (LNG) and low sulphur fuel oil. The four vessels will be delivered progressively from the second half of 2024 through to the first half of 2025. When delivered, the vessels will become the largest container vessels...

Brunvoll has secured an important contract, as a result of its strategic and extensive development of azimuth propulsion systems. The contract with a foreign navy includes propulsion systems for four vessels. The dredgers will serve both the naval and civil needs for dredging of ports and other shallow waters. The vessels are 86 metres long and will have a crew of 14 people. All vessels will be built at local shipyards in the customer's home country. Brunvoll azimuth propulsion units Brunvoll...

At Blue Water, they are deeply concerned about Russia's continued military actions in Ukraine. They continuously follow the situation and assess how the increasing amounts of sanctions against Russia impact their activities and ability to service their customers. They are pausing all new bookings, contracts, and activities in Russia and Belarus – this includes any transit through Russia and Belarus. Blue Water fully respects the sanctions and will comply Blue Water fully respects t...

Blue Water is deeply concerned about Russia's continued military actions in Ukraine. They continuously follow the situation and assess how the increasing amounts of sanctions against Russia impact their activities and ability to service their customers. The company is pausing all new bookings, contracts, and activities in Russia and Belarus – this includes any transit through Russia and Belarus. Blue Water fully respects the sanctions and will comply Blue Water fully respects the sancti...

FESCO Transportation Group and the Higher School of Economics National Research University (HSE) have agreed to cooperate in the field of education to train modern personnel in the field of logistics and supply chain management. The corresponding cooperation agreement was signed by Andrey Severilov, Chairman of the Board of Directors of FESCO, and Nikita Anisimov, Rector of the Higher School of Economics. Logistics  solutions  The parties also agreed to develop joint resea...

Unifeeder is proud to launch a new Track & Trace tool, which allows you to always stay close to your cargo. You can follow your cargo inland and overseas from door to door. The tool is available on myUnifeeder, which is a digital platform for cargo management in Europe. With myUnifeeder, it is faster and more efficient to quote and book. myUnifeeder provides customers with instant quotes and a variety of options to select between different sailing schedules and prices. Supply chain visib...