Finance - News
The foremost classification society ClassNK has proclaimed its roles to support the transition of the shipping business to zero-emission.While efforts to build a decarbonised society are being accelerated such as through strengthened GHG reduction targets in various countries and with the progress of sustainable finance, a framework for assessing GHG emissions has also been introduced to MARPOL. The shipping industry is now required to plan and manage GHG emissions in an organised manner. I...
A.P. Moller - Maersk announces that it has reached an agreement with Bridgepoint Development Capital to acquire KGH Customs Services (KGH), a Sweden-based specialist in trade and customs management services in Europe. This will further enhance Maersk’s capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers. Seamless customer experience With its specialised expertise across freight modes (air, ocean, land) and...
To meet the booming demands of shipping space and the shortage of export logistics supply chain resources, CULINES adheres closely to market trends and customer demands. Trans-Pacific Express Service (TPX) Five 1,700-4,400TEU container vessels will be deployed on the TPX service, which trades directly from Shanghai Through coordination and deploying of containerships and equipment, CULINES will launch its first Trans-Pacific Express Service (TPX) on July 18 linking China to the West Coast of...
DNV, the world’s renowned classification society, has released the latest updates to its rules for ship classification, with a raft of new class notations that are designed to enable the maritime industry to tackle the decarbonisation challenge. The new updates include ‘Fuel Ready’, a class notation that offers ship owners the option to prepare for a later conversion to multiple different alternative fuel options, and ‘Gas fuelled ammonia’ for ammonia fuelled vesse...
MetOcean Telematics is pleased to announce it will be exhibiting at NATIA 2021 in Tampa, Florida, USA, from July 12th to 14th, 2021. They are looking forward to connecting with NATIA members and showcasing their latest products and technology. Visit the MetOcean Telematics team at booth 826 at the NATIA 2021 event. MetOcean Telematics at NATIA 2021 event NATIA is comprised of over 3,500 law enforcement, intelligence, and support personnel, who provide electronic surveillance, technical operat...
Hapag-Lloyd has announced opening a new office in Ukraine. The country is located on the northern shores of the Black Sea and the Sea of Azov, and is the second largest European country by area, covering a strategic geographic position between the European Union (EU) and Russia. Key Market for Hapag-Lloyd Various mineral resources and the world’s largest agricultural production make Ukraine an attractive export market for Hapag-Lloyd. The country is also an important import country, i.e....
Swedish ferry company - Stena Line is strengthening its position and expanding services in the Baltic Sea Region, by deploying two new large and modern ferries on the route between Ventspils in Latvia and Nynäshamn in Sweden in 2021. The first of the two vessels, Stena Scandica entered Ventspils port on Tuesday 29 June 2021 to get ready for its maiden voyage on the route within a short. The vessel adds another 70% cabin capacity compared to the existing vessels, as well as increased freigh...
Inmarsat announces the appointment of Fredrik Gustavsson as the company’s Chief Strategy Officer (CSO). The new role sees the former Head of Strategy & M&A at easyJet brought in to further strengthen the company’s executive leadership team and accelerate growth. Fredrik is Inmarsat’s third executive-level appointment in three months and follows a wide-ranging review of the company’s performance and effectiveness undertaken by Inmarsat CEO Rajeev Suri since jo...
In a steel-cut ceremony at BAE Systems shipyard in Glasgow, His Royal Highness, Prince William, Duke of Cambridge, set the plasma cutting machine to work on the first plate of steel for the third Type 26 frigate, HMS BELFAST. Minister of State for Defense Baroness Goldie, together with employees and representatives from the Scottish Government, Royal Navy and the Ministry of Defense, joined the celebrations. Delivering anti-submarine warfare capability The event marks an i...
In conjunction with their airtime service partners - SD Government is buoying up DataWave™ Ku-band network throughput to deliver faster transmissions for all maritime communications. Maritime customers already optimising the DataWave Ku services will now benefit from highly customisable satellite services, access to the latest real-time weather and nautical information, and the ability to stream video applications including Zoom, Skype, or other internet broadcasts. Unlimited data...
Global survival and safety solutions provider, Survitec, has announced that it has completed a £15 million Bank Guarantee Facility with Barclays Corporate Banking. This bank guarantee complements the company’s recently announced £270 million refinancing, as well as a new £27.5 million Super Senior Revolving Capital Facility. All three of the agreements are part of Survitec’s growth plans for its survival technology products and services. Survitec attains bank guar...
Influenced by the global COVID-19 epidemic and other factors, the dilemma of "one equipment is difficult to obtain" for foreign trade customers is further highlighted. To solve the urgent needs of customers, CULINES made efforts to increase the supply of shipping space on various services in July. Asia - Europe service upgraded CULINES has expanded the AEX service scope and added direct service from Asia to London Tilbury, UK China United Lines will upgrade its AEX route (Asia - Europe Expre...
The Seafarers’ Charity, in partnership with researchers at the University of Nottingham, released a new survey to better understand the reality of working conditions for fishing crew across the UK. The 20-minute research survey covers subjects including contracts and crew accommodation, facilities, and fishers' welfare. Crew members are encouraged to anonymously share their experiences of working life on fishing vessels. Financial challenges Catherine Spencer, CEO of The S...
Together with its partner - ScanOcean AB, Neste is broadening the sales and distribution of low-sulphur marine fuels in the Swedish market. At the end of June 2021, ScanOcean will add Neste MGO DMA from the Neste Marine™ 0.1 product range to their product offering, alongside the Neste MDO DMB. Both bunker grades will be available at the Södertälje ex-pipe bunker station that serves vessels also in transit into Lake Mälaren. Compatibility features We are working...
Globally renowned Swedish ferry company - Stena Line has officially taken delivery of its newest RoPax ferry, Stena Scandica, on Friday, 18th June, 2021. The vessel is the first of two Visentini vessels that are being lengthened and modernised by Stena RoRo at the Sedef Shipbuilding in Tuzla, Turkey. Stena Scandica will start operating on Stena Lines route between Nynäshamn in Sweden and Ventspils in Latvia in the beginning of July 2021. Newest RoPax ferry, Stena Scandica Stena Line is w...
Avikus, Hyundai Heavy Industries (HHI) Group’s newly established subsidiary, specialised in autonomous navigation technology, became South Korea’s first company to succeed in fully autonomous navigation of a ship. Avikus Avikus announced that it successfully completed fully autonomous, unmanned operation of a cruise ship Avikus announced that it successfully completed fully autonomous, unmanned operation of a cruise ship for 12 passengers, at a demonstration event, held in Pohang-...
General cargo ship “FESCO Pioner” set sail on 13 June 2021. FESCO vessel will deliver to Anadyr and Egvekonot about 287 TEU of containerised cargo and 103 tonnes of general cargo. The approximate date of arrival of the vessel to Anadyr is 22 June 2021. Delivery of the goods on linear service "FESCO Anadyr Direct Line" (FADL) is to last until the end of October. FESCO vessels will have 5 voyages to deliver about 1500 containers and 1000 tonnes of general cargo to the ports of Anadyr...
Global trade was completely reshaped in the past year and a half because of the global health crisis that sparked systematic problems driving everyone to re-think supply chain models and agility of service networks. As a major sponsor of The Economist’s Global Trade Virtual Week, MSC announces two speakers taking part in the discussion on sustainable trade, and the role of container shipping and logistics as a positive force in shaping the post-pandemic global trade. The free online even...
Spire Global, Inc. (Spire), a globally renowned provider of space-based data and analytics solutions, has announced the expansion of its Maritime Weather solutions portfolio. By providing more accurate and reliable insights, Spire is continuing to support its customers as a trusted source for open ocean weather data. The Spire Weather team has added 10 years of historical weather data from across the entire planet. Historical data is vital for understanding weather patterns, planning future voy...
DNV, the classification society, has launched Compliance Planner, a new digital tool that enables DNV customers to easily track the requirements and deadlines of legislation for both individual vessels and entire fleets. As both the number and complexity of international shipping regulations continue to grow, navigating the timelines and requirements has become an increasing burden on ship owners and operators. Compliance Planner presents a full overview of the requirements facing any v...
Kongsberg Maritime (KM) has won contracts to design and equip two construction service operation vessels (CSOV/SOV) for the Norway-based ship owner, Awind AS, a fully-owned subsidiary of Integrated Wind Solutions AS (IWS). The combined contract value is approximately NOK 250 million. Destined for the renewable offshore wind market, the new CSOVs will be built to Kongsberg Maritime’s UT 5519 DE design, by the Chinese shipyard, China Merchant Heavy Industries (CMHI), with which Kongsberg ha...
To support the pursuit of IMO’s decarbonisation targets, DNV has joined forces with 22 companies by entering into a Memorandum of Understanding (MoU) on a joint cross-industry study of common issues concerning ammonia as an alternative marine fuel. Partners include representatives from the fields of energy, mining, power utility, chemical, terminal, shipping, shipbuilding, manufacture, bunkering, and classification. Transitioning to a low carbon future Transitioning to a low carbon futu...
CULINES held a ceremony at its Shanghai Headquarters to conclude a new building contract with Yangzijiang Shipbuilding (YZJ). This order is for two container vessels, each with a capacity of 2,400TEU. This is the second new-building order in CULINES’s investment program following the four 1,900 TEU feeder vessels announced earlier in 2021. Vessel investment program Low Load Tunning main engine uses the latest generation of EFI technology to upgrade the ship's energy saving...
Neste and ITOCHU Corporation has announced that they are joining forces to deliver renewable diesel to the Japanese market. In this collaboration, ITOCHU Corporation will be the first company in Japan to sell and distribute renewable diesel from Neste. In addition, FamilyMart, which is owned by ITOCHU Corporation and is one of the largest convenience store chains in Japan, will start to use renewable diesel in some of the delivery vehicles at their distribution centre in Yokohama City. Thi...
Production of ‘farmed’ aquatic animals will more than double from 30 million tonnes per year (Mt/yr) live weight to 74 Mt/yr in 2050, according to the independent assurance and risk management company. DNV’s first Marine Aquaculture Forecast warns, however, that production will not meet demand in mid-century unless the industry tackles key sustainability barriers to growth by 2030. Marine aquaculture Marine aquaculture plays a role in securing supplies of food for a global p...
FESCO Transportation Group has provided relocation of four Kalmar’s straddle carriers CSC340 from JSC First Container Terminal in St. Petersburg to LLC Vostochnaya Stevedornaya Company in the Primorye Territory. Both the terminals are part of the Global Ports group. Multi-purpose dry cargo vessel FESCO used its multi-purpose dry cargo vessel equipped with cranes with a lifting capacity of up to 120 tonnes To transfer the carriers, FESCO used its multi-purpose dry cargo vessel FESCO Par...
Managing global freight and ocean container movement now requires more dedicated insight as companies have expanded internationally. And no event outside of COVID-19 has exposed just how extensive, yet fragile, logistics networks and capacity flows have become over the last several decades. To adapt, some manufacturers have adopted progressive supply chain approaches that move away from "lean models to more flexible ones like "sense and respond." But not all businesses have successf...
Global survival and safety solutions provider, Survitec has announced that it has completed a £27.5 million Super Senior Revolving Capital Facility (RCF) with Santander UK. This new facility is in addition to the recently finalised £270 million refinancing announced by the company in April 2021. Both agreements support Survitec’s growth plans for its survival technology products and services. New RCF complemented by a foreign exchange facility The new RCF is complemented by...
FESCO Transportation Group and Internship Navigation (member of Hartmann Group) have agreed to cooperate in the technical management of vessels. The agreement was signed by the parties at the International Economic Forum in St. Petersburg. According to the agreement, FESCO is planning to use the experiences and competence of Hartmann Group to perform the dock and general repairs and further maintenance of the Group’s vessels. Moreover, the parties are planning to cooperate in the realm of...
Chief Executive Officers (CEOs) of global container and roro carriers have appealed to governments for broad political action, which is critical for the shipping industry to meet climate challenge. The International Maritime Organization (IMO) has set a goal for the international shipping industry to reduce its greenhouse gas emissions (GHG), by at least 50%, by 2050, and then to move to zero GHG emissions. Meeting IMO’s zero GHG emissions goals Shipping will decarbonise and the industr...