Finance - News

The bow of HMS GLASGOW, the first City Class Type 26 frigate being built for the Royal Navy, has been rolled out of the build hall at the BAE Systems shipyard on the River Clyde. In a move that lasted 90 minutes, the forward section of HMS GLASGOW which contains the bridge, operations room and accommodation spaces, was manoeuvred into position on the hardstand at the Govan yard where it will be joined by the aft section in the coming weeks. Maintaining much-needed skills HMS GLASGOW is the fi...

Ahead of US President Joe Biden’s Leaders’ Summit on Climate, the world’s major shipping organisations have called on world leaders to urgently examine the role of market-based measures (MBMs), in order to ensure ambitious decarbonisation targets are met, across the entire global shipping industry. With the summit, hosted by the United States of America (USA), seen as a vital precursor to COP26 and the IMO’s Marine Environment Protection Committee (MEPC), shipping bodies...

Trafigura Group Pte Ltd, one of the independent commodity trading companies, is continuing its investment in renewable energy technologies by co-sponsoring the development of MAN Energy Solutions ammonia-fuelled engines for maritime vessels. The fuel-flexible, two-stroke ammonia engine is expected to be commercially available for large-scale ocean-going ships by 2024, followed by a retrofit package to make existing maritime vessels capable of running on ammonia by 2025. Carbon-free fuels Acco...

Survitec are incredibly proud to mark the delivery of the 1 Millionth sterilised surgical isolation gown for the NHS. Surgical isolation gown Having been selected last year by the UK Department for Health and Social Care as a key partner for the NHS, over 140 additional staff were hired to support this critical work. In what has been an unprecedented year, they are privileged to have been able to contribute to the UK’s business effort to manufacture vital PPE for their keyworkers.

Even if distributing products around the world is never a trivial task, the challenge for pharmaceutical companies has added pressure. Why? The speed and accuracy of medical and pharmaceutical logistics can ultimately be the difference between life and death.   More than any other sector, the pharma industry is therefore heavily regulated with detailed requirements for the storing and transportation of medical supplies that are often sensitive to changing conditions. The traditional logis...

Wrist continues to support sustainable measures with a new partnership with Fresh Water Norway, offering customers from the Northern part of Europe a more environmentally option when sourcing fresh water for those at sea. Wrist and Fresh Water Norway recently signed a contract for the supply and distribution of the eco-friendly, recyclable Tetra Pak water cartons. The water will be shipped from Norway to Rotterdam and be part of Wrist’s product range in the Rotterdam and Noerresundby ware...

FESCO Transportation Group (“FESCO”) has completed the first intermodal transportation of fish products in reefers from Vladivostok to Germany via the Trans-Siberian Railway and the port of St. Petersburg, Russia. A regular train consisting of forty-nine 40FT reefers loaded with Pollock fillets and minced Pollock departed from Vladivostok to St. Petersburg. Then the cargo was loaded onto a vessel and arrived at Bremerhaven on 12 April. Enable Russians extend their trade The total...

The Japanese propeller manufacturer - Nakashima Propeller Co. Ltd. and the German shipbuilding firm - Becker Marine Systems are further expanding their strategic partnership, after decades of cooperation. The combined product portfolio of both companies creates a strong hydrodynamic system provider for propulsion and maneuvering of ships of all sizes, for shipyards and shipping companies worldwide. Product portfolios that complement each other Together, they can make good use of the product p...

The Organising Committee of the Doha International Maritime Defence Exhibition & Conference (DIMDEX) is ramping up preparations for the next edition, set to take place under the patronage of His Highness Sheikh Tamim Bin Hamad Al-Thani, Amir of the State of Qatar. The seventh edition of DIMDEX will be proudly hosted and organised by the Qatar Armed Forces and will take place from the 21st to 23rd of March 2022, at the Qatar National Convention Centre (QNCC), in Doha, Qatar. DIMDEX 2022 eve...

In response to the increasing customers' demand for Asia/Europe routing options, Maersk is picking up the pace of its AE19 service -a combination of a short-sea and intercontinental rail service between Northern European ports in Finland, Poland, Germany and Scandinavia and ports in Korea, China and Japan. From now on, trains leaving North Europe with destination to the Russian Far East -via the ports of St. Petersburg and Vostochniy- are upgraded from fortnightly to weekly and trains coming we...

The organising committee of the Doha International Maritime Defence Exhibition & Conference (DIMDEX) is ramping up preparations for the next edition, which is set to take place under the patronage of His Highness Sheikh Tamim Bin Hamad Al-Thani, the Amir of the State of Qatar. The seventh edition of DIMDEX will be proudly hosted and organised by the Qatar Armed Forces and will take place from the 21st to 23rd of March 2022, at the Qatar National Convention Centre (QNCC), in Doha, Qatar. DI...

Stena Line has announced the latest addition to their Baltic Sea fleet. The 186 metre long Visentini RoPax vessel - Stena Livia will initially join sister vessel - Stena Flavia on the Nynäshamn-Ventspils route from mid-April 2021. Later this year, the pair will replace the existing tonnage on the ferry route between Travemünde and Liepaja, adding 40 percent freight capacity and shorten the crossing time substantially. New RoPax vessels added to Baltic Sea fleet We have seen an incre...

The crew of FESCO’s vessel 'Vasily Golovnin' conducted a search and recovery of two self-propelled platforms for maritime research of the Norwegian Polar Institute nearshore Antarctica. In severe weather conditions, FESCO’s seamen managed to find two self-propelled research vehicles – Seaglider and Sailbuoy – and bring them on board. The difficulties were not only in the dimensions of the vehicles (each is 2 metres long), but also in the sensors on the sides of the vehic...

In 2020, ferry company - Stena Line continued to reduce its total CO2 emissions and is ten years ahead of the IMO international shipping emission reduction targets. Nevertheless, the Swedish shipping company is now accelerating the transition towards fossil-free shipping and presents its plan to reduce total CO2 emissions by as much as 30% until 2030. Despite a challenging year, Stena Line continued to reduce its total carbon dioxide emissions in 2020. Emissions also decreased per nautical mile...

Hyundai Heavy Industries Holdings (HHIH), a holding company of HHI Group, signed a memorandum of understanding (MoU) for cooperation in hydrogen and ammonia-related businesses with Saudi Aramco on March 3.   The MoU was signed by Kisun Chung, Vice President & Head of Management Support Office at HHIH, and Ahmad A. Al Sa'adi, Senior Vice-President of Technical Services at Saudi Aramco. Carbon zero process Hyundai Oilbank plans to cooperate with Saudi Aramco on the realisation of a &l...

BAE Systems will retain its key role in supporting the Royal Navy, at the Portsmouth Naval Base, with the company securing two contracts, as part of the UK Ministry of Defence’s (MOD) Future Maritime Support Programme (FMSP) competition. The contracts, worth up to £ 1.3 billion, over five years, will commence on October 1, 2021, following a transition period. BAE Systems – KBR Inc. joint venture BAE Systems will continue to deliver ship asset management, repair and maintenan...

RCL, with its partner ONE; is pleased to announce a revamp of its existing RLM service between Laem Chabang - Ho Chi Minh – Manila North. In the new rotation, the service will be extended to call Pusan, Qingtao, and Shanghai in addition to the existing rotation. The new rotation is Laem Chabang – Caipmep – Manila North – Qingtao – Pusan – Shanghai – Laem Chabang using 4 x 2,500 TEU nominal capacity. RCL will contribute one ship in this new rotation. The...

Retailo, the fastest-growing B2B e-commerce platform in the MENAP region, partners with Maersk, a global integrator of container logistics, for warehousing services in Pakistan.   Through this regional partnership, Retailo will be able to rely on Maersk for its ever-expanding business needs by getting access to purpose-built warehouses and expand the scale of its business. Retail sector incompetence The partnership with Maersk will help Retailo manage its large inventories as per...

Maersk Inc. North America has announced the start of a new service linking ports in Vietnam and China with the US East Coast via the Panama Canal, starting in May 2021. TP23 string and service The service will improve speed, reliability and coverage and integrate into US East Coast landside logistics offerings The TP23 string will include eight Maersk vessels and two from ZIM. The rotation is intended to be Vung Tau, Vietnam/Yantian, South China/Panama Canal /Savannah /Charleston/Newark, whi...

Propulsion Analytics, a Greek high-tech company that provides vessel and engine performance evaluation applications, and DNV have received funding from Innovation Norway, in order to develop a Condition Based Maintenance (CBM) application for ships. The project will result in an innovative CBM service for ships, with validated methods and accredited tools that merge thermodynamic modelling with artificial intelligence (AI), in order to diagnose machinery system faults and predict performance in...

The opening ceremony of Xiamen Oceanwide International Integrated Logistics Co., Ltd. (hereinafter referred to as "Xiamen Oceanwide") was grandly held in Xiamen on March 29, 2021. Mr. Yang Xianxiang, Vice Chairman, Executive Director, and Chief Executive Officer of SITC International, and Mr. Chen Chaohui, Deputy General Manager of Xiamen Port Holding Group attended the ceremony and delivered speeches. Witnessed by all the guests and shareholder representatives, the unveiling ceremony was open...

BAE Systems will provide installation, engineering, and sustainment support services, in order to ensure the continued safe operation of a U.S. military aircraft. BAE Systems was awarded a four-year US$ 42.5 million task order, by the U.S. Navy, to provide shore-based landing systems integration (LSI) support services, for instrument carrier and instrument landing systems (ICLS/ILS). Landing systems integration (LSI) services The new ILS service provides U.S. Navy pilots with increased guidan...

New research reveals that the UK's Dreadnought submarine programme supports tens of thousands of jobs across the UK. BAE Systems has for the first time revealed the significant contribution the Dreadnought submarine programme makes to the UK economy, supporting almost 30,000 jobs across the country. While nearly half of these jobs reside in the North West of England, the supply chain for Dreadnought extends to every region of the UK. Working with partners Rolls-Royce and the Submarine Delivery...

SITC in partnership with Nippon Express Co., Ltd. has announced the Vietnam-China-Europe New Land-Sea Corridor cross-border sea-rail combined transport container was successfully shipped from Vietnam, and arrived on March 8, 2021 by the New Land-Sea Corridor train. The cross-border business The cross-border business cooperation between Ritsu and SITC is a successful attempt to open up the cross-border sea-rail intermodal transport channel between Southeast Asia and Europe with the help of the...

Blue Water is a logistics supplier to the wind industry. Through an extensive network of global offices, Blue Water provides its clients with a variety of tailor-made services focused on the problem solving of their clients most complex supply chain needs. They are looking for a Regional Head of Renewables APAC that is overall responsible for maintaining, build upon and innovate Blue Water’s approach towards the on and offshore renewable/wind energy sector in Asia. Regional renewable en...

As part of the company’s fleet improvement plan, Wan Hai Lines has confirmed an order of 5 container vessels with HHI (Hyundai Heavy Industries). The contract signing ceremony was held at Wan Hai Lines’ Taipei headquarters on 25th March 2021. The contract includes five (5) 13,200 Teu container vessels with HHI. These new vessel types will start taking delivery in the first quarter of 2023, respectively. Fleet renewal plan Currently, Wan Hai Lines operates a fleet of 74 owned...

In 2019, the Blue Water Group presented a record profit of 25.7M EUR. The Danish transport group continues its strong development and has recently introduced its annual accounts for 2020 showing a record profit of 25.8M EUR. New solutions and possibilities "We are very satisfied to deliver a record result in 2020 which has been an extremely unusual and challenging year for many companies including Blue Water. During the spring, we saw the first impact of COVID-19 resulting in a decrease in som...

There are many reasons why working at sea can affect couple and family relationships. These include financial pressures caused by unpredictable income; the physical hazards of working at sea; time spent away from loved ones; and not being at home for birthdays and anniversaries. That’s why The Seafarers’ Charity has made free Relate counselling available to all fishers, their families, and any UK resident working as a merchant seafarer. Understanding the challenges We un...

To improve the service network and provide customers with wider service lines, CULines will launch three Japan line services, during the upcoming spring season. The new Japan service lines will include Japan-Thailand-Vietnam JTVS, Japan-Taiwan express JTX, and Japan-Singapore-Malaysia JPX. Three Japan service lines will connect with CUL's other backbone network to facilitate express service of Japan-South China-Taiwan-Hongkong-Thailand-Vietnam-Singapore-Malaysia and service line of Japan-Port K...

On the afternoon of March 20th,  the "COSCO Shipping Xing Wang" departed from Yantian International Container Terminal (YICT) with her "Yantian-Santos Brazil" Maiden Voyage.  This express service has been launched from Yantian to Brazil without any intermediate port by "COSCO Shipping Xing Wang", which will reach ECOPORT terminal within 35 days with full loaded cargo.  CUL and COSCO Special Line Service CUL and COSCO Shipping Specialized Carriers signed the "Strategic Cooperati...