Finance - News

‘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...

One of the key lessons learnt during the COVID-19 pandemic and its aftermath, is that there is a need for increased resilience in supply chains. A survey conducted by the Business Continuity Institute showed that of the 526 responders across 64 countries, 34% of organisations reported an increased annual cost of €1 million or above, caused by supply chain disruptions. Ever-changing challenges make it difficult and expensive for customers to have a global setup that is capable of monitoring...

Norwegian davit supplier, Vestdavit has achieved record sales in 2021, as it focuses on continuous product innovation, in order to boost orders in both core and new markets. The company is on course for group-wide sales of more than Nkr 200 million (US$ 22 million) in 2021, a 20% increase on 2020, to ensure a solid profit for the year and its fabrication facility in Poland is currently working at full capacity, according to the Managing Director of Vestdavit, Rolf Andreas Wigand. He said &ldqu...

​The Assembly of the International Maritime Organization (IMO) has elected the members of its Council for the 2022-2023 biennium. IMO Council members elected The Council is the executive organ of the IMO and is responsible, under the Assembly, for supervising the work of the organisation. Between sessions of the Assembly, the Council performs the functions of the Assembly, except that of making recommendations to Governments on maritime safety and pollution prevention. The Assembly of the Int...

It has been decided to grant full financial support of 272 million Danish Krones (36,5 million EUR) to CO2 storage in the oil fields of the North Sea by the Danish Ministry of Climate, Energy, and Utilities. In December 2020, several Danish political parties settled a North Sea agreement, which was effected to develop and carry out CO2 storage in the North Sea. Green transition Until recently, it was uncertain which parts of the project would get financial support from the political side as s...

FESCO Transportation Group (FESCO) is expanding the geography of transit routes and is launching a regular intermodal container service, FESCO West Gate Bridge, from countries of the Asia-Pacific region to ports of Europe, via Vladivostok and Kaliningrad in Russia. FESCO West Gate Bridge service The new service, FESCO West Gate Bridge, includes marine shipment by regular FESCO lines, from the Asia-Pacific region to the Commercial Port of Vladivostok (CPV, part of the FESCO Group), then by a re...

A.P. Moller - Maersk (Maersk) has introduced the design of their eight ground-breaking and industry-renowned 16,000 TEU container vessels, powered by carbon-neutral methanol. When designing these, the company’s ambition was to make sure the new vessels could service their customers in a smarter way, while contributing to their carbon-neutral transportation goals. Carbon-neutral transportation Unique to the industry, this design allows a 20% improved energy efficiency per transported con...

What is the ocean’s role in the low-carbon future? The World Ocean Council’s (WCO) Chief Executive Officer (CEO), Paul Holthus discussed the confluence of energy, climate and biodiversity in the oceans, at the 4th edition of the Transition Forum (2021 Transition Forum). Transition Forum The Transition Forum partner event brings together the public and private sectors, in order to speed the global transition to a low-carbon future.

The ocean covers 71% of the Earth’s surface, hosts a major portion of the planet’s biodiversity, provides the world with food, energy, transport, and recreation, as well as playing a vital role in regulating the water and carbon cycles, while producing half the oxygen we breathe. ‘Blue economy’ The global ‘blue economy’ contributes US$ 2.5 trillion a year in economic output (equivalent to world’s seventh-largest by GDP) and is expected to expand at twi...

The World Ocean Council (WOC) is thrilled to partner with the US$ 100 million XPRIZE Carbon Removal team, on a webinar for ocean entrepreneurs. Funded by the Musk Foundation, the XPRIZE Carbon Removal Prize is a global US$ 100-million competition, aimed at tackling the biggest threat facing humanity - fighting climate change and rebalancing Earth’s carbon cycle. XPRIZE WOC Webinar on Ocean CO2 Removal The XPRIZE WOC Webinar on Ocean CO2 Removal will brief participants on the US$ 100 mil...

At Maersk they are making a dedicated effort to alleviate pains in the customers’ supply chain, providing visibility, clarity and predictability where they can. One such effort is ensuring that customers can plan their supply chain with ease and accurate data. Industry digitalisation is key to building more sustainable supply chains, bringing with it the opportunity to react quickly to the market, as well as new events and changes in the transport plan. Accurate transit times Seeing whe...

Many shipping companies already have the tools needed to be a part of the solution for sustainable ocean use. The Seabed 2030 project aims to create a complete map of the world ocean floor by 2030, using equipment commonly available on marine vessels. WOC’s Seabed 2030 As a core partner of Seabed 2030, the World Ocean Council (WOC) is hosting workshops about the project, which aligns with the WOC’s SMART Ocean-SMART Industries (SO-SI) programme. SO-SI’s mission is to ensure i...

A brand-new transport solution from Narvik in Northern Norway will ensure fresher fish for all of Europe. Accompanied by Norwegian CargoNet and Nor-log Thermo, Blue Water Shipping has tailored a solution shortening the transport time by up to 40%. This Sunday, the first train arrived at Padborg’s cargo transport terminal. After unloading of the train, the trailers were transported to Blue Water’s reefer terminal, which is neighbouring to the cargo terminal in Padborg. Blue Water han...

Maritime UK has announced launching the Version 5 of the Industry Code of Practice for Maritime Autonomous Ship Systems on December 6, 2021. The accelerating pace of change in maritime autonomy has required updated guidance for those owning and operating Maritime Autonomous Ship Systems (MASS). While not a legal text, the Industry Code of Practice has been used by manufacturers, service providers, and others, as part of their day-to-day work. Many manufacturers have reported clients requiring c...

VANOS S.A. is pleased to announce that they participated in the DEFEA 2021 - Defence Exhibition Athens event, which took place from July 13 to July 15, 2021. VANOS S.A. presented their latest technological developments in tactical equipment, as well as security, communication and detection systems, to 63 official military and government delegations, from 21 countries, in addition to the thousands of visitors, at the DEFEA 2021 exhibition. DEFEA 2021 exhibition With the exhibition having come...