Finance - News
Hintco GmbH announces Fertiglobe as the successful bidder of the first H2Global pilot auction for renewable ammonia, funded by the German Government. The winning bidder, Fertiglobe, a strategic partnership between ADNOC and OCI, will start producing renewable ammonia destined for delivery in 2027 for a maximum contract value of EUR 397 million. Renewable ammonia The renewable ammonia will be delivered to the port of Rotterdam and sold by Hintco in standardized quantities in annual aucti...
A comprehensive Port of Long Beach digital platform being designed to help speed cargo deliveries across the nation, the Supply Chain Information Highway, is getting an infusion of funding from Gov. Gavin Newsom’s administration. The Governor’s Office of Business and Economic Development (GO-Biz) announced a $7.875 million grant for the Port’s data system today. Funding is expected to help build out a variety of functions including export and rail cargo visibility, user authen...
Watson Farley & Williams (WFW) advised Attica Holdings S.A. (Attica) on the negotiation of bareboat charter documentation with Stena International S.A. (Stena) for two E-Flexer vessels being built by Stena at the China Merchants Jinling Shipyard (Weihai) Co., Ltd with a purchase option. Delivery is scheduled for April 2027 and August 2027. RoPax vessels The two new vessels with an overall length of 240m, are the largest RoPax vessels ever ordered by a Greek shipping company. With a passe...
Anhui NOY Technologies Co. Ltd., a company manufacturing vacuum helium leak detectors for use mainly in the Chinese market, will become part of Atlas Copco Group. NOY is a privately owned company headquartered at its manufacturing location in Hefei City, Anhui Province, China. The company has 78 employees and in 2023 had revenues of 121 MCNY (approx. MSEK 178). Leak detector technology “NOY was founded in 2016, exhibiting rapid growth by initially serving the EV battery market, wh...
Iridium Communications Inc., a renowned provider of global voice and data satellite communications, has announced that for a second time, its Tempe, Arizona facility has received the James S. Cogswell Outstanding Industrial Security Achievement Award. A distinction presented by the Defense Counterintelligence and Security Association (DCSA) during the annual Society of Industrial Security Professionals (NCMS) training seminar, the award honours companies that embody a commitment to upholding an...
Captain Ian Finley, Permanent Representative of the Cook Islands to IMO, has been selected as the recipient of the prestigious International Maritime Prize for 2023. The decision was made by the IMO Council at its 132nd session (8 to 12 July 2024). Captain Finley was nominated for the award by the Government of the Cook Islands. As a delegate to IMO, representing Panama and latterly the Cook Islands, he has been an active participant in the development of virtually all safety, environmental and...
The Valencia Containerised Freight Index (VCFI) for the month of June decreases slightly in a scenario in which the activity of the maritime sector is marked by the geopolitical situation, but in which an improvement in the world economy is observed. Thus, in the sixth month of the year, this price index, which is based on export prices recorded by the Port of València in 13 geographical areas around the world, stood at 1,585.67 points, representing a monthly decrease of -1.30% and...
Columbia Group (Columbia Ship Management) and Crowley have signed a strategic cooperation agreement that broadens both companies’ ship management solutions for customers, leveraging their extensive, industry-renowned expertise across the maritime, logistics and energy sectors. Under the alliance, customers will be able to capitalise on the capabilities of both organisations for more efficient and greater scale of international management services. Columbia and Crowley form strategic alli...
In a few weeks from now, Fender Innovations will be travelling Eastwards again to participate in SMM Hamburg 2024. Taking place from September 3 to 6, 2024, the port city of Hamburg will be hosting this amazing international exhibition for maritime innovation again and they’re looking forward to meet everyone there! Fender Innovations at SMM Hamburg 2024 Visitors can find the Fender Innovations Group in Hall B7, at Stand 718 for a personal update about the company’s latest develop...
Spire Global, Inc. (‘Spire’ or ‘the Company’), a global provider of space-based data, analytics and space services, was awarded a CA $1.41 million contract by the Government of Canada (GoC) for the provision of global automatic identification system (AIS) ship tracking data. The one-year contract includes options for two additional years, extending the total potential contract value to nearly CA $4.23 million. Spire Global secures contract for ship tracking data &ldquo...
Sir Keir Starmer has been appointed Prime Minister of the United Kingdom after the Labour Party secured a majority in the House of Commons in yesterday’s general election. Maritime UK’s Chief Executive, Chris Shirling-Rooke has shared his congratulations and also urged the newly appointed Prime Minister to prioritise the interests and economic prosperity of coastal communities in the Government's upcoming plans and agenda. In the Maritime Manifesto 2024, Maritime UK outlined its a...
With the support of RWE, the Dutch-Norwegian company SolarDuck, has installed its offshore floating solar (OFPV) project, Merganser. The pilot project aims to test and demonstrate the structural, mooring, and electrical designs and acquire knowledge about manufacturing, assembly, offshore installation, and maintenance methodologies required for large-scale commercial deployment of OFPV. Merganser Merganser has a capacity of 0.5 megawatt peak (MWp) and is located in the Dutch North Sea,...
A multi-faceted, comprehensive conference programme addressing the industry’s most pressing issues will once again captivate SMM visitors this year. The pioneering international maritime trade fair will put decarbonisation, digitalisation, recruiting as well as maritime security and defence at the top of its agenda. For the first time, the conferences will take place on the four Transition Stages, freely accessible to all visitors: Green Stage, Open Stage, Cruise & Ferry Stage and Dig...
Seven nationalities, twenty-one students, twelve days and more than seventy hours of training. These are the figures of the course hosted by the Port of Valencia in the framework of the ‘Train For Trade’ programme, organised by the United Nations Conference on Trade and Development (UNCTAD). Under the name ‘Training of Trainers' workshop. Course on modern port management’, its content -developed by experts from Valenciaport and the port community of Valencia- focuses on...
Extending its trusted relationship with the U.S. Government, Crowley announces the award by U.S. Transportation Command (USTRANSCOM) of a $ 2.3 billion, seven-year contract to continue serving the military’s transportation and logistics needs under the Defense Freight Transportation Services program. Crowley was awarded the original Defense Freight Transportation Services (DFTS I) contract in 2017. One of the largest logistics contracts under the federal government, DFTS encompasses all f...
Oceania Cruises, the world’s renowned culinary- and destination-focused cruise line, is offering up to 40% off 50 global voyages in its Annual Summer Sale, which runs through August 26. The promotion offers travelers ultimate value along with the chance to explore some of the most sought-after and idyllic parts of the world aboard the line's eight ultra-premium small ships, which are perfectly sized to call on off-the-beaten-path ports, as well as landmark cities across six continents. O...
Consort Bunkers Pte. Ltd., ClassNK, Yanmar Asia (Singapore) Corporation Pte Ltd, and Taiko Asia Pacific Pte. Ltd. have signed a Memorandum of Understanding (MOU) to accelerate towards introduction of more bunkering ships capable of handling alternative fuels. Biofuel/methanol bunkering tankers Singapore-based Consort Bunkers placed an order with COSCO SHIPPING Heavy Industry (Guandong) Co., Ltd. to construct four 7,999 DWT IMO Type 2 tankers, ready for biofuel and methanol bunkering. Incorpor...
Watson Farley & Williams (“WFW”) advised Hamburg Commercial Bank AG (“HCOB”) on its acquisition of NIBC Bank N.V.’s (“NIBC”) entire shipping portfolio comprising €992m of performing shipping loans. NIBC’s shipping experts will join HCOB to form its first representative office in the Netherlands. The portfolio was acquired through a multi-stage competitive bidding process and is the first major acquisition of its kind for HCOB. Banking pr...
The popularity of the Port of Hamburg remains first-class in Asia. At the Asian Freight, Logistics and Supply Chain (AFLAS) Awards ceremony in Shanghai on 25 June 2024, the Port of Hamburg won the award for 'Best Global Seaport'. During the ceremony organised by the trade journal Asia Cargo News in Shanghai, Darren Barton, Publisher of Asia Cargo News, presented the award to Inga Gurries, Head of Market Development Asia Port of Hamburg Marketing (HHM). Readers of Asia Cargo News About 15,00...
The Panama Canal celebrated the eighth anniversary of its expansion program by announcing an increase to its draft and daily transits, all while continuing to manage the impact of climate variability and the challenge of securing water for the future. Through an Advisory to Shipping, the Panama Canal announced that the maximum authorised draft was raised today from 46 to 47 feet (14.33 metres), and will increase to 48 feet (14.063 metres) on July 11. Additionally, a new booking slot for the Neo...
The ABB-powered all-electric tug eWolf has been christened this week at the Port of San Diego, California, marking a new chapter in vessel electrification in the United States. Owned and operated by Crowley, eWolf features an end-to-end electric propulsion system from ABB including a 6.2-megawatt-hour energy storage system (ESS). This allows the vessel to achieve 70 short tons of bollard pull with zero emissions and complete a full day of work on a single charge. Given electricity is cheaper t...
ABS and FibreMax signed a pioneering agreement to collaborate on stiffness-driven mooring tendons for the offshore wind market. The collaboration, which is principally focused on floating offshore wind assets, will see ABS provide qualification of FibreMax’s fibre and small rope testing. ABS will evaluate test methods for accuracy in predicting the parameters needed to perform representative analysis, focusing on stiffness. FibreMax will provide expertise on stiffness, based on its p...
HMM, Korea's largest and the world's eighth-largest container carrier, has announced a strategic partnership with CargoX, a pioneering provider of electronic trade document solutions. This collaboration introduces electronic bill of lading (eBL) features on the HMM digital service platform. Through this partnership, HMM customers will benefit from the advanced functionalities of the CargoX Platform, which will be integrated into HMM's digital services. This integration aims to modernise and str...
Vard Marine Inc. (VARD), a Fincantieri company, has proudly launched VIGILANCE, as their solution to replace the Royal Canadian Navy’s (RCN) Kingston Class Maritime Coastal Defence Vessels (MCDV) under Pillar Two of Canada’s National Shipbuilding Strategy (NSS). In conjunction with Team Vigilance partner companies - Thales Canada, Ontario Shipyards, SH Defence, and Fincantieri, VIGILANCE will provide the RCN with a lightweight and operationally flexible military asset that is highly...
MAN CEON, the digital platform of MAN Energy Solutions, received the ABS Cyber Security Product Design Assessment (PDA) certificate. MAN CEON connects machinery to Amazon Web Services (AWS), the Amazon-based cloud storage platform. The data transmitted is used to provide up-to-date information including the efficiency of components and systems, availability of those systems and real-time monitoring from shore. ABS CyberSafety® Program The PDA is part of the ABS CyberSafety® Program th...
Watson Farley & Williams advised long-standing client TUI Cruises GmbH on the delivery of Mein Schiff 7, its seventh ship in the Mein Schiff series built at Meyer Turku’s shipyard in Finland. At ca. 112,000 GT, the 315 metres long, MEIN SCHIFF 7 is a showcase for modern, sustainable shipping. It has been fitted with cutting-edge technology to reduce nitrogen oxide emissions and is also equipped with methanol capability and a shore power connection. Representation of TUI Cruises...
Safe and efficient DESMI mag-drive centrifugal pumps enable leakage-free methanol fuel systems for ships, reducing vessel carbon emissions and climate impact. With every year that passes, emission regulations tighten in the shipping industry. Ship owners who want to stay in business need to look for ways of reducing carbon emissions to comply with the targets defined in the IMO GHG Strategy and other regulations. A promising but toxic alternative Running on alternative fuels is one of the mos...
In a pioneering achievement, DESMI has secured third-party validation for the effectiveness of its aquaculture UV treatment systems from DNV, a global major in quality assurance and risk management. This marks a significant advancement in the aquaculture industry, ensuring greater transparency and trust in UV treatment technologies. On February 16th, 2024, DESMI achieved a milestone by receiving DNV validation for the UV doses applied by its UV treatment systems, specifically designed for aquac...
Iridium Communications Inc. (IRDM), a renowned provider of global voice and data satellite communications, has announced expanded commercial availability of its Satellite Time and Location (STL) service, the leading alternative positioning, navigation, and timing (PNT) solution. Driven by increased commercial demand, Iridium partners are now authorised to sell the service in parts of Europe and Asia Pacific, helping to protect locally relied upon GNSS systems, like GPS and Galileo, with a signa...
The performance of Hempel’s cutting-edge silicone-based hull coating solution, Hempaguard X7, and its ability to accelerate decarbonisation efforts in the maritime industry are now third-party validated by DNV. Since its launch in 2013, Hempaguard has provided vessels around the world with significant energy efficiency compared to the industry average and contributed to substantial reductions in carbon emissions. With this external validation by DNV, Hempel is now better able to demonstra...