Finance - News
The Seafarers’ Charity awards grants to new online services to support seafarers who have experienced sexual violence, and to help tackle loneliness and suicide. Actioning their new strategic approach, The Seafarers’ Charity awarded a total of £844,760 to 17 organisations in its first meeting of this year’s grant programme. The charity recently launched its strategy ‘Thrive’, which focuses on achieving five strategic outcomes for seafarers (enhanced financial...
Foundation Det Norske Veritas – which owns DNV Group – has teamed up with the Maritime and Port Authority of Singapore (MPA) and five other industry leaders to establish a maritime decarbonisation centre in Singapore. The centre’s stated mission is to catalyse and facilitate decarbonisation in the maritime sector and will be supported by contributions from the founding members totalling S$120 million. Its creation follows the release of a recommendation by the International Ad...
Florham Park, New Jersey USA – Maersk North America’s Destination Cargo Management (DCM) product is designed to optimise destination planning and delivery in supply chains. This segment holds the most opportunity for importers to reduce demurrage and detention (D&D) storage costs and improve end-user experience. Storage costs Maersk recently performed a study of storage costs in the North America Warehousing and Distribution (W&D) market to identify trends in D&D costs...
Demand for longer-term repair and maintenance framework relationships from ferry operators is increasing as the sector prepares to recover from COVID-19, according to Cammell Laird. Despite a reduction in ferry projects at Cammell Laird during 2020 as many operators, particularly those involved in passenger traffic, delayed all but vital work-the market for wider maintenance and repairs is improving. Longer-term contracts Ferry operators are showing an appetite for longer-term contracts and c...
Anson, the fifth of seven Astute class attack submarines, being built for the Royal Navy, has been launched at BAE Systems’ site in Barrow-in-Furness, Cumbria, in the United Kingdom. The 7,400-tonne nuclear-powered submarine, officially named at a ceremony in December, emerged from the Devonshire Dock Hall and entered the water for the first time, earlier on April 20, 2021. The launch was a special moment for the Barrow shipyard, which is celebrating its 150th year of establishment and a...
The automotive manufacturing sector works on a ‘Just-In-Time’ model for the supply chains of its parts and components. Automotive manufacturers require highly reliable logistics services that can move their raw material and finished products on precise schedules to ensure uninterrupted production processes. For years several of these manufacturers based in and around Gurugram, the northern part of India, has been dependent on staggered and unscheduled rail movement for their cargo g...
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...
Cammell Laird has completed the design, manufacture and installation of an innovative test rig as part of a project which plans to re-establish the UK as a world leader in thermal hydraulics research. The new Thermal Hydraulic test rig, which is 7 metres tall, 5 metres wide and 2.5 metres deep, was built for the National Nuclear Laboratory (NNL) as part of Project Faith (Fuel Assembly Incorporating Thermal Hydraulics). The project aims to use the build of the experimental rig as a model fo...
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...