Finance - News

Participants from across the maritime value chain participated in the DNV Conference – The Fuel of the Future. Aimed at advancing the idea that collaboration is the key to success in decarbonising the maritime world, the event attracted more than 6500 registrants and brought together a comprehensive line-up of shipowners, energy majors, financers, and regulators who offered their unique insights on how shipping can be chart the optimal route ahead. Decarbonisation Decarbonisation is t...

Mediterranean Shipping Company’s (MSC) Chief Executive Officer (CEO), Soren Toft has highlighted the importance of working together, in order to achieve net decarbonisation goals, in a keynote digital speech delivered at DNV’s ‘Fuel of the Future Conference’, on January, 11, 2022, as part of the annual Nor-Shipping convention. In his speech, Soren Toft explained MSC’s views on the status of decarbonisation in the container shipping sector, summarised how the compan...

Fincantieri Bay Shipbuilding started construction on the largest LNG (liquefied natural gas) bunkering barge ever built in the United States. Bay Shipbuilding is expected to complete construction on the barge in late 2023 under contract with Crowley, the largest independent operator of tank vessels in the U.S. Crowley will operate the vessel under a long-term charter with Shell NA LNG, LLC (“Shell”). The 416-ft. vessel, which will have the capacity for 12,000 m3 (3.17 million ga...

Blue Water’s Energy and Projects Division has experienced positive and sustainable growth in recent years, both in terms of activity level and expansion of locations. To further strengthen its global position, Blue Water is opening two additional offices in the Middle East: Iraq and Saudi Arabia. This is to underline and strengthen the objective of servicing customers across the business with a regional and local presence. “We want to expand our global presence to serve current an...

Unifeeder begins the new year with some exciting news. From 14th January 2022, Unifeeder Shortsea will be launching a new service linking Rotterdam to/from the ports of Dublin, Cork, and Belfast - with connections into the entire network of Unifeeder in Europe.  Quick booking process This new service in the Irish Sea offers an enhanced carrying capacity, as well as all-new routes between Rotterdam and key ports in Ireland, giving Unifeeder customers the benefit of connecting markets bet...

Tufail Chemical Industries and Maersk Pakistan signed a partnership earlier this week wherein Maersk would provide ‘Maersk Flow’, a digital tool, to Tufail Chemical to streamline and manage their supply chains efficiently. The partnership marks a significant step towards modernising logistics and improving supply chain performance with less time and effort. Tufail Chemical Industries conducts business with tech and appliance industries and has been importing plastic raw material, in...

EasyShipping, a well-known international logistics service platform in China is joining forces with TradeLens – the global blockchain digital platform, to provide innovative ocean freight financing solutions for Chinese foreign trade and logistics companies. Cross-border trading is a pillar of the global economy and supply chains are a key component to enable cross-border trading. As the current global supply chain suffers from imbalance, tight resource allocation and low efficiency, most...

Nestled in the North Pacific Ocean and the largest of the Micronesian islands is Guam, an unincorporated territory of the United States of America (USA). There are two main drivers of trade in this island nation in the Pacific Ocean, the US military presence and tourism. The current population of Guam stands at about 170,000 people, with this number expected to increase slightly by 2024, as 5,000 US Marine personnel and their families will be relocated to Guam from Okinawa, Japan. Guam, a ke...

The next stage of Wightlink’s £1.5 million investment in the FastCat foot passenger route terminal, between Portsmouth Harbour and Ryde Pier Head, in the United Kingdom, starts on Wednesday, January 5, 2022. The timetable will stay the same, but there will be changes to the way customers can board the catamarans, in Portsmouth, United Kingdom, for the next three months, because of major structural repairs and maintenance at the terminal. FastCat terminal repair work Customers will...

Rolls-Royce is focusing on methanol as a fuel for climate-friendly shipping: Rolls-Royce business unit Power Systems is currently working on mtu engines for use with methanol. New four-stroke engines The new high-speed four-stroke engines, which are based on proven mtu technologies, are planned to be available to customers as soon as possible for use in commercial ships and yachts. Denise Kurtulus, the Vice President - Global Marine at Rolls-Royce Power Systems AG, said “With the new de...

Rolls-Royce has agreed to work with IHI Corporation, to develop and deliver a future fighter engine demonstrator. Rolls-Royce – IHI Corporation The engine demonstrator programme will be a critical step forward, in enabling the two nations – United Kingdom and Japan, to develop their future fighter aircraft requirements, potentially securing hundreds of future jobs in the UK and Japan. Work on the joint engine demonstrator will kick-start in early 2022, with the United Kingdom (UK)...

Market sentiments continue to remain strong across major economies in West and Central Asia, driven primarily by strong demand for consumer products. Despite growing concerns over the spread of the Omicron variant of the COVID-19 virus, the region has seen varied reactions across the logistics sector, over the last month. A truckers’ strike created supply chain disruptions in Bangladesh, while in India, a dip in fuel prices brought welcome relief for both businesses and consumers alike....

As of 1 January 2022, Aarhus Logistics Center (ALC) changes its name to Blue Water Logistics, in order to optimise the port setup and continue increasing the efficiency of the activities for the benefit of customers and business partners. In 2013, Blue Water Shipping acquired ALC, which has been operated independently servicing new and long-time customers within logistics, stevedoring, and warehousing. “The change of name will not affect customer relations, cooperation agreements, or ser...

On behalf of Pakistan Customs, the Pakistan Single Window Company signs an agreement with TradeLens, a blockchain-underpinned logistics platform supported by 5 of the 6 largest ocean carriers globally, to digitise import-export documentation of the containerised cargo moving in and out of the country. Pakistan’s international trade ecosystem is being rapidly transformed through the introduction of technology-driven initiatives led by the Pakistan Single Window and the country’s auth...

‘By perseverance, everything reaches its target,’ the saying goes. Yet another year is almost over, and the COVID-19 pandemic continues to challenge everybody’s patience and perseverance. Many probably thought they would be back to a more ‘normal’ situation by now, but unfortunately it seems everyone will have to persevere a while longer. All the more important it is now to acknowledge and celebrate some of the progress and milestones that are being reached in the...

At the 32nd session of the IMO Assembly (A 32) from December 6 to December 15, 2021, the Assembly adopted a resolution on comprehensive action to address seafarers’ challenges, during the COVID-19 pandemic, consolidating issues related to crew change, access to medical care, ‘key worker’ designation and seafarers' prioritisation for COVID-19 vaccination. The resolution urges IMO Member States to: Designate seafarers as ‘key workers’, in order to facilitate shore...

Crowley recently awarded cadets Justin Kern and Ryan Tobin of SUNY Maritime College with its Thomas B. Crowley Sr. Memorial Scholarships in recognition of their success and pursuit of maritime careers. A senior from East Islip, N.Y., Justin Kern is studying for a Bachelor’s degree in Marine Operations with a U.S. Coast Guard deck licence. Kern is an active member of the Coast Guard Club and the Coast Guard Auxiliary University Program (AUP), serving first as the club operations officer, t...

Danish Defence Acquisition and Logistics Organisation has awarded Blue Water a new four-year contract – covering transport of military equipment with focus on USA, Canada and Europe. Further, the contract includes worldwide relocation services for personal property. Over the years, Blue Water has built a significant setup and wide experience in transport of defence equipment. Through existing cooperation with Danish Defence, they have provided transport and logistics services to the milit...

Solent Gateway, the UK’s fastest-growing port, is offering a unique opportunity for the renewables sector with its designated Freeport status complemented with the sea, road, and rail access, opening substantial growth opportunities in the region. The Sector Deal between the offshore wind industry and the UK Government in 2019 created certainty – unmatched by other European governments – that the UK will remain the anchor market for offshore wind. Productivity and innovation...

SBM Offshore is pleased to announce that it has secured a US$620 million bridge loan facility for the financing of the construction of FPSO Alexandre de Gusmão. The FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil. Mero is a project under Libra Consortium responsibility, in which Petrobras is the operator with 40 percent and with the following partners: Shell Brasil with 20 percent, TotalEnergies with 20 percent, CNODC...

Global full-service provider Blue Water announces a new logistics partnership with the shared professional services group supporting Holland America Group, which consists of Princess Cruises, Holland America Line, Seabourn and P&O Australia. As part of the cooperation, Blue Water will be managing the warehouse operations for the Group’s main distribution center in Florida, including order fulfillment, distribution, storage, cross dock, and live loads for dry, chilled, and frozen shipm...

Malaysia Airlines, the national carrier of Malaysia operated its inaugural flight using sustainable aviation fuel (SAF) in partnership with PETRONAS Dagangan Berhad (PDB) and Neste. The flight marks Malaysia Airlines’ commitment to make SAF the cleaner and more viable energy option for regular flights by 2025. Collaborative result The historic flight MH7979 utilising the Airbus 330-200 aircraft departed Amsterdam Airport Schiphol at 12:55 pm local time using a blended mixture of approxim...

Swiss based marine engine technology developer, Winterthur Gas & Diesel Ltd. (WinGD) continues to invest in its R&D (Research & Development) testing infrastructure, with the opening of a new collaborative Global Test Centre in Shanghai, China. Global Test Centre The new test centre, which opened on the December 16, 2021, is in collaboration with CSPI (China Shipbuilding Power Engineering Institute Co., Ltd.), for the advancement of a decarbonised future, through sustainable fuel an...

Arkady Korostelev, the President of FESCO Transportation Group (FESCO/the Group) took part in a meeting on implementation of coastal transportations in 2022, in the Far Eastern Federal District, presided by Alexander Poshivay, the Deputy Minister of Transport of the Russian Federation (Russia). Coastal transportations in 2022 The President of FESCO, Arkady Korostelev, at the meeting, voiced the need for administrations of the Magadan Region, the Kamchatka Territory, the Chukotka Autonomous Okr...

Communications agency, ADPR, has announced that it has been appointed by Neander Motors AG (Neander), the premium German engines and automotive brand that created the world’s first turbo-diesel outboard engine under 100 horsepower (hp), the Dtorque. ADPR appointed by Neander ADPR has been brought onboard by Neander, in order to help raise the profile of the brand globally, as well as supporting with its full rebranding. Supporting businesses in the marine industry is at the heart of eve...

As the year-end holiday season arrives, many consumers are already feeling the supply chain crunch – there is no shopping without shipping. The ripple effect from crew change, quarantine period, vaccination progress, port congestion and ship schedule disruptions due to COVID-19 could be reasons for increasing delays and costs. Code of conduct and self-assessment In this issue of WManager, read about the active role in the development of the Code of Conduct and self-assessment tool to pr...

The Seafarers' Charity reports 50 Vessels join the Fishing First Safety Management Project to improve safety and supply chain transparency. The Seafarers’ Charity reports that the project to develop safety management onboard fishing vessels to the standard of the Fishing Safety Management (FSM) Code is well underway. The new service called Fishing First Safety Management System by SafetyFolder, is being developed to improve safety in the UK fishing fleet and, at the same time, increa...

CMA CGM is pleased to announce the launch of the NEW TIKAL 2, a complementary service to the current NEW TIKAL, offering optimised connections from/to West Coast Central America. NEW TIKAL 2 service With this new loop, CMA CGM becomes a vessel operator on the trade and enhances their allocation to match customers’ strong demand from/to Acajutla and Puerto Quetzal. The service is scheduled to start in January 2022. The NEW TIKAL 2 service’s main features will be the following: F...

Orbital, the renewable energy company focused on the development and global deployment of its pioneering floating turbine technology, confirms that it will qualify multiple applications for submission into the UK Government’s Allocation Round 4 (AR4) of the Contracts for Difference (CfD) scheme. Following a series of good news stories for tidal energy commercialisation in 2021, the company now has a credible course to delivering multi-device projects in locations across the UK as early as...

 FESCO Transportation Group (FESCO) has welcomed another container ship, FS Ipanema to its fleet, as part of its fleet renewal programme. The vessel will continue to operate on the line between the ports of the United States of America (USA) and Venezuela, under the current contract. FS Ipanema container ship The length of the container ship is 179.7 metres, the width is 27.6 metres, the deadweight is 25,902 tonnes and with the capacity of 1794 TEU. The container ship’s crew consi...