Finance - News

Tototheo Global and Neuron have announced an agreement to deploy Neuron’s AI-powered quality of experience (QoE) management platform to vessels contracted to Tototheo. Through this partnership, Tototheo Global and Neuron will address a growing need for ships, as they increasingly engage with multiple satellite providers and networks, the need for increased transparency, and technologies to help vessels switch seamlessly between different service deliveries. Real-time connectivity data T...

As part of a pioneering joint development project (JDP), ABS approved a range of ship repair and retrofit work processes for remote survey at Qatar Shipyard and Technology Solutions. ABS tested, validated, and approved remote survey techniques at Qatar Shipyard and Technology Solutions for several survey tasks, which included rudder clearance inspection; stern tube wear-down inspection; and rudder plug opening inspection. Optimise scheduling The framework established in these activities...

ABS issued an approval in principle (AIP) for a low-pressure, shallow-draft, low carbon footprint 40,000 cbm liquid carbon dioxide (LCO2) carrier design for ECOLOG Services Ltd. (ECOLOG). This AIP is the result of extensive cooperation within a joint industry project on the detailed design development, taking into account LCO2 critical characteristics, including operational requirements with respect to low pressure and shallow draft. The design maximises energy integration and minimises greenho...

A UK-first collaboration is set to use satellites to monitor coastal changes in a bid to create safer shipping navigation channels. The project will see Peel Ports, the UK’s second largest port operator, partner with the National Oceanography Centre (NOC) and Channel Coastal Observatory (CCO), to employ satellite surveillance and assess where maintenance is needed over six months. Coastal mapping technology Funded by UK Space Agency Small Business Research (SBRI), the NOC will use its p...

OrbitMI, a pioneering provider of maritime intelligence and analytics solutions, is pleased to announce the appointment of Youn Lee as its new Chief Financial Officer (CFO), effective February 1, 2024. Lee, who officially joined OrbitMI on October 1, 2023, brings a wealth of experience in finance and operations, with a distinguished career that includes leadership roles in digital transformation across various industries. OrbitMI's mission Youn Lee joins OrbitMI from Newsmax TV, where he serv...

Onboard carbon capture (OCC) is attracting interest within the shipping industry, providing shipowners with the opportunity to continue operating on conventional fuels, while reducing emissions. However, according to DNV’s latest whitepaper - 'The potential of onboard carbon capture in shipping', its success depends on collaboration between regulators, policymakers, industry stakeholders, class, and suppliers.   Cost-efficient solutions With decarbonisation targets rapidly approach...

Technology group - Wärtsilä will supply the engines, fuel gas supply system, and thrusters for two new Ropax ferries being built for French operator La Méridionale, a subsidiary of CMA CGM.  The vessels, which have been specifically designed to minimise emissions, are to be built at the China Merchants Jinling Shipyard (Weihai) Co., Ltd. and will operate between Marseille and Corsica. The order with Wärtsilä was booked in April 2024. Energy transition Ferries a...

PD Ports is pleased to announce the appointment of Michelle Robson to its executive leadership team, as we continue towards our vision of becoming the UK’s premier, and most sustainable, seaport and port logistics operator. As Chief People and Compliance Officer, Michelle will be responsible for a broad range of key functions across the PD Ports Group, including HR; health, safety, and environment; resilience, business continuity, and security; Harbour Police and the Harbour Office. Mi...

MAN Energy Solutions has signed a Memorandum of Understanding (MoU) with Eastern Pacific Shipping (EPS) at the Posidonia 2024 International Shipping Exhibition in Piraeus, Greece, on the development of crew training for the handling of ammonia as fuel on vessels. Ammonia training Signed between Cyril Ducau, Chief Executive Officer for EPS, and Bjarne Foldager, Country Manager, Denmark for MAN Energy Solutions, the MoU will enable EPS to be trained alongside MAN Energy Solutions’ engi...

At Posidonia 2024, ABS signed a memorandum of understanding (MOU) with HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE); HD Hyundai Heavy Industries, Co., Ltd. (HHI); and the Liberian International Ship & Corporate Registry (LISCR) to collaborate on the application of artificial intelligence (AI) to eliminate ship safety blind spots. Situational awareness The MOU aims to use advanced technologies to increase the situational awareness of seafarers. The techniques could u...

KR has signed an MoU with HD Hyundai to collaborate on the pilot project of a cloud-based next-generation smart ship solution (ISS 2.0) developed by HD Hyundai, on June 4th at Posidonia 2024, held in Athens, Greece. Smart ship solutions  This project, jointly undertaken by HD Hyundai Heavy Industries (HD HHI), HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai Marine Solution (HD HMS), Sinokor Merchant Marine, and KR, aims to equip and demonstrate next-generation smart...

A delegation from the Port of Beirut, headed by Bassem Kaissi and Omar Itani, President and General Manager of this Lebanese port enclave, visited the Port of València, as part of the tour that the managers of the Beirut port are carrying out, as part of the work before the relaunch of its activities. The Lebanese delegation was accompanied by Abdelghani Gharib, CEO of Gharib Shipping & Trading; Nancy Khawam Ulloa, General Manager of Medkon Iberia; and Vicente del Río, Port...

Indian Register of Shipping (IRS) and The Uttar Pradesh Transport Department have signed a landmark Memorandum of Understanding (MoU) to establish the UP Inland Waterways Authority. This collaboration aims to develop and regulate inland waterways in Uttar Pradesh, enhancing transportation efficiency and fostering economic growth. Safety and green initiatives IRS will assist the Uttar Pradesh government in formulating the UP Inland Waterways Authority and developing relevant rules based on the...

After 27 years of service, Mr. Lutz Ehrhardt has decided to retire from his position as PhilaPort’s representative in Europe. From his home city of Hamburg, he was The Port of Philadelphia’s liaison with ocean carriers, shippers, and government officials in one of the largest shipping markets in the world. Mr. Ehrhardt will be succeeded by Mr. Uwe Gaede, a well-known shipping major, who was ocean carrier Hamburg’s Süd’s Marketing Director in North Europe for the l...

Udupi Cochin Shipyard Limited (UCSL), a wholly owned subsidiary of Cochin Shipyard Limited bags orders for the construction of three 70 T Bollard Pull ASD Tugs for Ocean Sparkle Limited, an Adani Harbour Services Limited company. Udupi Cochin Shipyard Limited (UCSL), a wholly-owned subsidiary of India’s pioneering shipyard, Cochin Shipyard Limited (CSL), has bagged another prestigious order from its existing customer and pioneering Indian tug operator, Ocean Sparkle Limited (OSL), an Adan...

As Posidonia 2024 opens, Norway-based maritime technology business, Shipnet, has announced the launch of Helix, a revolutionary new product designed to transform decision-making in the shipping industry through advanced data analysis.  Helix provides a digital representation of your shipping business, enabling seamless integration and analysis of data from various sources such as safety, pricing, and procurement. By leveraging these diverse data inputs, Helix uncovers actionable insights t...

The first of two new £25 million ship-to-shore cranes arrived aboard a vessel at its new home in a major boost for productivity at the Port of Greenock. The 932-tonne structure was transported to the west-facing freight port following a 1-day journey from Cork in Ireland, where it was built. Work will shortly begin to install the vital infrastructure at the port, and it will be fully operational later this year following stringent testing. Crane capability The cranes will help accommoda...

ICEX Spain Export and Investment is firmly committed to companies working in the field of logistics and supply chain and, as part of its internationalisation strategy, is organising a ‘Conference on Technological Solutions for Global Value Chains’, with the collaboration of the Port Authority of València (PAV). The conference, which is being held today 30 May in València, is the third in a series of travelling sessions throughout Spain that began last year in Madrid an...

Inchcape Shipping Services, a global pioneer in port agency and maritime services with over 177 years of maritime experience, introduces OneCape DA, an independent specialist disbursement account management solution designed to navigate the operational complexities of port calls, freeing customers to focus on their strategic priorities. The expert team manages all aspects of disbursement accounts, ensuring clients only pay what is necessary. They understand the maritime industry, its network, a...

Peel Ports Clydeport has signalled its intention to invest up to £150 million in the redevelopment of the Hunterston marine yard in Ayrshire, as it prepares the site to support the UK’s offshore wind sector. Hunterston PARC is being prepared for occupancy as it seeks to attract major offshore wind projects, amid growing demand for the offshore wind supply chain on the UK’s west coast. Redevelopment of the site A formal planning application for the redevelopment of the site h...

Mark Jackson, CEO of the Baltic Exchange, has been appointed Deputy Chair of the London International Shipping Week 2025 (LISW25) Steering Group. He will support LISW25 Steering Group Chair John Hulmes in overseeing the running of the 2025 event. International shipping knowledge Welcoming Mark’s appointment, John Hulmes said he would bring a wealth of international shipping knowledge and expertise to the role. He stated, "Mark’s international credentials are unquestioned and...

Indian Register of Shipping (IRS) is pleased to announce its successful collaboration with Mazagon Dock Shipbuilders Limited (MDL) on the pioneering technology demonstration of an Autonomous Navigation system with dual navigation capabilities on MDL the tug MT Andaman. IRS team led by Mr. R. Srinivas, VP & HOD Electrical & Control System, conducted a thorough review of the autonomy concept, system documentation, software quality documentation, and a detailed risk assessment by IRS Guide...

Cruise and Passenger Services is thrilled to welcome back Cunard’s majestic Queen Anne, who returned from her maiden voyage on May 10th. After setting sail again, Queen Anne returns to Southampton on May 24th, marking the beginning of an exciting series of visits, with a total of 20 visits planned for this year. Queen Anne’s return to Southampton is not just a significant event for Cunard and its guests, but also for the entire port community. Their dedicated Cruise and Passenger Se...

The Department of Defence announces that Fincantieri's US subsidiary, Fincantieri Marinette Marine (FMM), has been awarded a contract worth over 1 billion US dollars to build the fifth and sixth Constellation-class frigates for the US Navy.  The contract for the lead frigate and 9 options, signed in 2020, has a cumulative value of 5.5 billion US dollars, including post-delivery availability support and crew training. FREMM frigate platform Fincantieri secured this high-profile tender, di...

Lockton Companies, the world’s largest privately held, independent insurance brokerage, has announced the appointment of Oliver Hutchings as COO of Marine, Transportation, and Logistics. Oliver Hutchings, who was previously Global MD of Marine & Aviation at Charles Taylor Adjusting, has over fifteen years experience of in managing specialist marine liability claims. Oliver Hutchings appointed as COO He takes the helm from Justin Pinches, who covered the position for an interim perio...

Japanese maritime experts have announced the successful completion of the early phases of a cross-industry project aimed at creating a secure data-sharing framework between shipyards and ship owners to advance the use of digital twins throughout a ship’s lifecycle. The project, which aims to enable the use of a vessel’s unique design data to optimise efficiency and safety at sea, as well as the sharing of operational data to inform new designs, brings together ship owners - NYK Grou...

Oceania Cruises, the culinary- and destination-focused cruise line, announces its newest ship Allura will enter service one week earlier than scheduled. Due to join the fleet in summer 2025, her inaugural sailing will now depart Trieste, Italy, on July 18, 2025, cruising six days to Athens, Greece, calling at gems in the Eastern Mediterranean including Rijeka, Croatia; Ravenna, Italy; Dubrovnik, Croatia; and Kotor, Montenegro. The line is also opening for sale a one-of-a-kind four day voyage s...

International maritime law firm - Campbell Johnston Clark (CJC) has added a senior member to its team in Singapore, following the appointment of Chua Aik Hui as Director. Joining the maritime law firm’s transactional team at the partner level, Aik Hui specialises in advising multinational financial institutions, sponsors, owners, and lessors on asset financing in the maritime and offshore oil and gas sectors. Extensive industry experience  Aik Hui also has significant experience in...

A new logistics and freight yard beside Southampton Container Terminal is predicted to give a significant extra competitive edge to cargo and haulage operations in the port.  The new yard and operation has been created in a deal between Southampton Container Terminal operator - DP World and Williams Shipping, one of Southampton’s oldest and most established maritime and logistics businesses. Cargo expansion The yard is twice the size of the existing Williams Shipping yard, which is...

Inmarsat Maritime, a Viasat company, has launched NexusWave, a fully managed connectivity service underpinned by a ‘bonded’ multi-dimensional network, offering high-speed connectivity, unlimited data, global coverage, and ‘secure by design’ infrastructure. NexusWave Delivered by a single provider, NexusWave is a fully managed service that seamlessly integrates multiple high-speed networks in real-time – Global Xpress (GX) Ka-band, low-Earth orbit (LEO) services, a...