Finance - News

Helm Operations and Caterpillar Marine have announced a strategic collaboration to enhance workboat operations by integrating advanced engine data with industry-renowned software. Combining the strengths of Helm CONNECT's fleet management software and Caterpillar's engine technology, this collaboration sets a new standard for informed decision-making and operational efficiency in the maritime industry. Performance optimisation Helm Operations, a maritime technology major for over 25 years, fo...

Dutch maritime start-up accelerator - PortXL presented its 2024 cohort at the RDM, the Rotterdam space for innovative companies, technology education, high-quality test facilities and field labs.  Ten start-ups and scale-ups presented themselves and were connected to partners, mentors and members of the Rotterdam and Dutch innovation ecosystem, that will assist them in the coming months. PortXL’ s partners and stakeholders Mitja Caboni, Acceleration Manager at PortXL introduced the...

Condor Ferries reported a +14% Y-O-Y increase in overall network carryings during 2024's peak travel period (14 July – 03 September 2024), representing an increase in carryings of 26,874 compared to 2023. Of particular significance is the increase in passengers carried to and from the island of Jersey: during the peak 2024 period, Condor Ferries carried 19,217 additional car and foot passengers on UK and French services to and from Jersey compared to the same period in 2023, amountin...

AkzoNobel’s International® marine coatings brand has announced a series of updates to Intertrac® Vision, a revolutionary digital forecasting tool. The latest enhancements include CII rating prediction, EU ETS cost impact and detailed breakdowns of cost savings across multiple dry-dockings, all designed to further support data-driven decision making on fouling control coatings for global vessel operators. Intertrac® Vision Intertrac® Vision analyses in...

DNV has unveiled an upgrade to its emissions data verification and data management platform, Emissions Connect, which will enable the maritime sector to handle the commercial challenges and risks that come with the implementation of FuelEU Maritime. The update comes at a crucial time as the industry is grappling with the requirements that take effect from 1 January 2025. Emissions Connect Emissions Connect was first launched in 2023 to support the industry with the operational impact of multi...

The Cargo Integrity Group (CIG) commends the recent circular issued by the China Maritime Safety Administration (MSA), following the explosion incident involving the vessel – ‘YM Mobility’ on August 9, 2024, at Ningbo-Zhoushan Port. This incident, along with other recent fires aboard container vessels, underscores the critical need for enhanced safety measures and vigilance in the transport of dangerous goods by sea. In its circular, the MSA reiterated the need for all shippi...

The opening press conference for the renowned international maritime trade fair gave a foretaste of the coming SMM days. Political and business leaders discussed current challenges and opportunities facing the shipping industry. The overarching topic was the decarbonisation of the shipping sector. The conclusion: While the technology is mature, what is needed now is courageous investment decisions – and a system to reward that courage. Initial major success The 31st edition of SMM was l...

Ocean Infinity has achieved a groundbreaking milestone in maritime innovation, receiving a Statement of Compliance (SOC) from DNV for its revolutionary remotely supported vessel operations. The approval from DNV, the classification society, establishes Ocean Infinity as the industry's first organisation to reach the required standard of technology and operations for large vessels and permits the beginning of onshoring marine-related tasks and activities. Statement of Compliance This high-prof...

Watson Farley & Williams (WFW) advised the owners of Astro Offshore (Astro Offshore) on the sale of an 80% stake in the business for US$185 million to Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company and part of the Adani Group. Core transaction The existing shareholders retain 20%. With the core transaction documents successfully signed, the deal is expected to close shortly. This all-cash deal gives Astro Offshore an enterprise val...

At the SMM trade fair, DNV awarded shipping and logistics company - Wallenius Wilhelmsen its first biofuel insetting verification statement - recognising the company’s use of B100 in a recent voyage. Biofuels can help to make an immediate impact on shipping’s GHG emissions. However, they do come at an increased cost and owners need to be sure that they can benefit from their extra investments in sustainability and compliance. Verified biofuel insetting enables this, by creating tran...

Watson Farley & Williams (WFW) advised an Asian financial institution as arranger, agent, security agent, and lender on a US$201.85 million sustainability-linked Japanese Operating Lease with Call Option (JOLCO) with Ocean Network Express Pte. Ltd. (ONE) as lessee and Financial Partners Group Co., Ltd. (FPG) as equity provider for two portfolios of container boxes comprising dry container boxes and reefer container boxes. Global container shipping company Singapore headquartered ONE is a g...

As the shipping industry transitions to cleaner fuels, ammonia as a marine fuel is gaining momentum. Alfa Laval is at the forefront of enabling this shift. Through research, product development, and strategic partnerships, the company is building the expertise and solutions needed for a safe and efficient transition to alternative fuels. Addressing challenges Alfa Laval is now accelerating the development of new technologies for ammonia The unique properties of ammonia, including its low fla...

REACH Subsea’s ground-breaking uncrewed surface vessel, REACH REMOTE 1, has received the Skipsrevven Ship of the Year 2024 award at the SMM exhibition in Hamburg. The 24-metre REACH REMOTE 1 is the first of a pair of uncrewed offshore surface vessels designed and delivered by Kongsberg Maritime to Norwegian company REACH SUBSEA ASA. REACH REMOTE USV design Crammed with state-of-the-art KONGSBERG technology, the vessels will initially carry out underwater survey...

With Fuel EU Maritime already impacting shipowners, energy efficiency and fleet-wide pooling is critical to short-term sustainability success according to leading industry figures at the annual ABS Sustainability Summit, which kicked off the SMM Exhibition in Hamburg. In a wide-ranging keynote, Navigator Gas CEO Mads Peter Zacho was positive about the progress of the transition, describing it as a business opportunity and said he welcomes the prospect of a carbon levy. Green shipping He said,...

Watson Farley & Williams (WFW) is pleased to announce that maritime disputes expert - Natalie Jackson has joined the firm as a partner in Athens, Greece. She has over 18 years of contentious experience working at UK shipping law firms based in Piraeus, having trained as a solicitor in London. Natalie Jackson Natalie specialises in maritime law and has an emphasis on dispute resolution arising from charter parties, bills of lading, MoA and shipbuilding disputes, salvage, collisions, ground...

Watson Farley & Williams (WFW) is delighted to announce that it has joined the Smart Maritime Network (SMN), an initiative dedicated to supporting and further promoting digital transformation across the shipping and transport sectors. Smart Maritime Network (SMN) SMN’s goal is to provide a platform to promote the benefits of enhanced integration and data sharing among stakeholders within the maritime and transport logistics sectors, informing and educating the industry on technologic...

SOCSEA24, the 4th Society and the Sea Conference is taking a significant step forward in championing gender equality within the maritime industry. Female representation The conference organisers – National Maritime and the University of Greenwich – have announced that women in maritime leadership roles will make up 41.2% of the speakers and 50% of the moderators at 2024's SOCSEA event. This marks a significant 9% increase in female representation compared to the conference’s...

ABS is expanding its footprint in Western Australia, establishing a physical presence in Port Hedland, a key trading zone for dry bulk minerals in the Eastern Hemisphere. The new site joins other ABS locations in Perth, Cairns, Brisbane, Sydney, and Melbourne. Port Hedland Port Hedland, the world’s largest iron ore export port, is located in northwest Australia's Pilbara region. The area is making substantial investments to support the energy transition to meet net-zero emissions goals....

Wärtsilä Water & Waste, part of the technology group - Wärtsilä, announces a new partnership with DHL Supply Chain, which will see DHL manage the business's warehouse and logistical operations for spare parts. The partnership will further optimise Wärtsilä Water & Waste’s supply chain and build operational capabilities in preparation for the sale of the Water & Waste business line from the corporation. Strategic goals The transition aligns with...

Delkia has led the Encompass group of nine companies, many small-medium sized enterprises, in a major contract win from the Ministry of Defence to supply technical and post-design services to marine systems support globally for the Royal Navy Surface Fleet. Framework arrangement The support contract is a framework arrangement and activities likely to be delivered as part of this include design revisions, reverse engineering, interoperability studies equipment trials, etc. In addition, the grou...

Technology group - Wärtsilä has signed a contract with Norwegian shipowner - Eidesvik to supply the equipment for the conversion of an offshore platform supply vessel (PSV) to operate with ammonia fuel. The vessel, ‘Viking Energy’, which is on contract to energy major - Equinor, is scheduled for conversion in early 2026 and is expected to start operating on ammonia in the first half of 2026, becoming the world’s first ammonia-fuelled in-service ship.  In additio...

In July, NPDL announced some changes to their shipping services for New Caledonia (Noumea) and Vanuatu (Santo and Port Vila). They will now be rolling these changes out indefinitely as outlined below. Their goal is to have improved operational efficiencies and better supply chains for New Caledonia and Vanuatu with the opportunity of improved frequency and transit times for the customers shipping from New Zealand and to the rest of the South Pacific. Recently upgraded network Operationally th...

Brabo, a major provider of pilot and port services in Antwerp, Belgium, has signed a deal with clean maritime technology company, Artemis Technologies, to bring an Artemis EF-12 Pilot boat into its fleet. Scheduled for delivery in late summer 2025, the introduction of the fully electric foiling vessel represents a forward-thinking shift for one of the world’s busiest ports, aligning with global efforts to tackle climate change and champion sustainable practices across the maritime industr...

Norwegian Cruise Line® (NCL), the innovator in global cruise travel, has open for sale additional cruises for its 2026 spring/summer season with more port-immersive Europe sailings across Northern Europe, the Mediterranean, and Greek Isles across eight ships, providing cruisers a variety of sailing lengths and embarkation ports to plan their dream European vacation; in addition to bucket-list itineraries through the South Pacific, warm weather summer voyages through the Western Caribbean, jo...

Iridium Communications announces that Thomas J. Fitzpatrick, 66, the Company's Chief Financial Officer (CFO) and Chief Administrative Officer and Bryan J. Hartin, 60, Executive Vice President, Sales and Marketing, plan to retire at year-end. Mr. Fitzpatrick will continue to serve on the Company's Board of Directors after his retirement as CFO. The Company named Vincent O'Neill as its new Chief Financial Officer and Timothy Last as the new Executive Vice President, Sales and Marketing, each to b...

Cammell Laird is delighted to announce it has received the prestigious Gold Award under the MoD’s Employer Recognition Scheme (ERS). Signing the Armed Forces Covenant, organisations pledge to honour two main principles which are: no member of the armed forces community should face disadvantage at work or in the community compared to other citizens and, in some circumstances, special consideration is appropriate for those who have given most, such as the injured or bereaved. Outstanding s...

Kongsberg Maritime has achieved a significant milestone for the cyber security of its products with the completion of testing to comply with IACS UR E27, which is based on IEC 62443, including DNV Cyber Security Profile 1 certification. The testing covers a range of its digital products, including automation, navigation and Dynamic Positioning (DP) systems. In order to comply with the new Cyber Security Requirements, which were introduced on 1 July, Kongsberg Maritime decided last year to exped...

Maritime software company Ripple Operations is proud to announce the acquisition of AdonisHR, a well-known Norwegian family-owned provider of crew management and payroll software solutions for the maritime industry.  AdonisHR enjoys a strong reputation in the market, with an excellent team and products, as well as an established, loyal customer base.  Crew Success Software This acquisition is supported by a substantial financial investment from New York-based software holding compan...

Marine Components International (MCI), a Dorset-based maritime equipment specialist, is set to return to SMM International Maritime Fair from 3rd to 6th September 2024 with a complete range of BSB A60 Marine Fire Dampers in Hall B5, Stand 545. BSB is a major supplier of fire dampers to the maritime industry, and MCI is proud to have global distribution rights offering prompt delivery from their UK-based warehouse backed by friendly and responsive customer service. BSB A60 The BSB A6...

Oceania Cruises, the world’s renowned culinary- and destination-focused cruise line, is spotlighting a selection of its 2025 Grand Voyages, offering the most elegant way to enjoy extended travel, with bucket list trips to the most incredible locations across the globe. The diverse array of voyages affords guests the chance to discover world wonders such as Borobudur in Indonesia, the world's largest Buddhist monument, or Mount Fuji in Japan, with immersive itineraries on board Oceania Cru...