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The TMS Ship Finance and Trade Conference 2025 brought together global industry pioneers, financial experts, and policymakers for transformative discussions on the future of maritime trade, finance, and sustainability. The conference served as a vital platform for addressing key challenges, exploring financial innovations, and advancing sustainability-driven solutions for the maritime sector. Challenges for maritime decarbonisation Al-Maghafi cautioned that these changes might slow sustainab...

A collaboration agreement has been signed between classification society ClassNK and maritime data and technology firm OceanScore to link the latter’s integrated solution for ClassNK ZETA (Zero Emissions Transition Accelerator) that enables users and related stakeholders to access visualised MRV/DCS data. Shipping companies using the ClassNK ZETA service will gain seamless access to OceanScore’s market-pioneering Compliance Manager under the agreement, which was inked on 20 January...

NorthStandard has finished a challenging year for global marine insurance, reporting an increase in poolable tonnage and continuing progress towards meeting its strategic goals. Marine insurers worldwide saw a rise in the number of large claims in the year ending 20 February, alongside compromised Asia-Europe ship routeing choices and a growing number of ‘shadow’ tankers seeking cover outside the International Group of P&I Clubs system. NorthStandard’s premium income Nev...

Watson Farley & Williams (‘WFW’) advised Eurazeo, acting as lead investor via its Eurazeo Transition Infrastructure Fund, on a €70 million investment in new offshore service vessel platform MPC OSE Offshore. The platform, a joint venture between MPC Capital and O.S. Energy, helps develop, build and manage service support vessels for offshore wind farms. The consortium of investors comprised European family office and others in addition to Eurazeo. Watson Farley & Willi...

Shipowners and operators of EU vessels must take steps to ensure that all new firefighting suits on board comply with changes to European regulations which enter into force from June 2025, according to urgent advice from VIKING Life-Saving Equipment. The leading life-saving equipment solutions provider is recommending fleet managers undertake a full risk assessment of their firefighting suits to verify compliance with requirements applying under MED regulations (EU) 2024/1975. New firefighting...

Watson Farley & Williams (‘WFW’) advised BNP Paribas and Standard Chartered Bank as co-documentation banks and DNB Bank ASA, New York, as agent, on a US$500 million revolving credit facility to Scorpio Tankers Inc. (‘Scorpio Tankers’). The oversubscribed credit facility was provided by a group of eight banks. The facility is a revolving credit facility with a seven year maturity date and provides Scorpio Tankers the flexibility to draw down or repay the loan during t...

A pioneering nuclear propelled containership designed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has received approval in principle from ABS. The groundbreaking design for a 15k TEU vessel uses a propulsion system comprised of a molten salt reactor (MSR) for heat and a supercritical carbon dioxide (SCO2) system for power generation. Net zero by 2050 ABS completed design reviews based on class requirements. ABS published the industry’s first comprehensive requirements...

Technology group Wärtsilä has signed a Lifecycle Agreement with CMA Ships, a subsidiary of pioneering French shipping company CMA CGM. The agreement covers 14 large LNG-fuelled container ships already in operation. The order with Wärtsilä was booked in Q1 2025. In today’s global environment, owner and operators of container vessels are focused on optimising operations and maintenance more effectively so that their vessels can continue to operate flexibly, and in the mo...

Sentinel Marine has secured an extension of its contract with INEOS, continuing the Cromarty Sentinel’s operations in the Southern North Sea (SNS) for an additional three years. The vessel will continue to provide vital support to the Breagh and Clipper South platforms, with the agreement including options for two further one-year extensions. Additions to Sentinel Marine’s fleet Cromarty Sentinel, one of the uniqueadditions to Sentinel Marine’s fleet, was delivered in March...

Goltens Worldwide, a pioneering provider of specialised marine services, is pleased to announce a new distribution agreement with Denmark-headquartered Marine Fluid Technology A/S (MFT) covering MFT’s SEA-Mate® Blending-on-Board (BOB) system, SEA-Mate® Filter system and other SEA-Mate® products across key maritime markets in Singapore, Indonesia, India, the Philippines, and the Middle East including the UAE, Saudi Arabia, Bahrain, and Qatar. Critical factors in the maritime T...

Dutch company Econowind, based in Zeewolde, has secured €1 million in development capital from Invest International to advance and test its VentoFoil XL, a 24-30 metre high steel wind sail inspired by aviation technology. Similar to aeroplane wings, these innovative sails are designed for large vessels, harnessing wind power to reduce fuel consumption and cut CO2 emissions by up to 15%.  Introduction of the XL model The first of two XL prototypes is expected to be fully developed a...

James Fisher & Sons plc, a pioneering provider of specialist services to the energy, marine and defence industries, launches a new legal entity in Japan, reinforcing its long-term commitment to Japan and its footprint in North East Asia. The move furthers James Fisher’s intention to bring its integrated offering and innovative, sustainable solutions to the country’s energy transition, maritime security and defence needs. Japan’s industrial ambitions Fisher can use both i...

A host of expert speakers have been confirmed for the TMS Ship Finance and Trade Conference, which takes place on Tuesday, 18th February, at the Taj Exotica Resort, the Palm Dubai. The Conference, which has the theme of Financing Green Shipping Solutions, is the seventh conference in this series and looks set to be the best one yet. Development of shipping Nawal Al-Maghafi, an award-winning journalist and documentary maker, will moderate this session Keynote addresses will be made by Dr Ibr...

Kongsberg Maritime has won a major contract to supply an integrated package of equipment for Bibby Marine’s new eCSOV, the world’s first full-electric offshore vessel. Kongsberg Maritime’s comprehensive package will be at the core of this advanced vessel’s systems. The company will provide full-electric rim-drive propulsion with azimuth and tunnel thrusters. Integrate with the battery system The new eCSOV will feature the largest-ever battery facility on...

Ocean Network Express and Yusen Logistics Co., Ltd are pleased to announce a new agreement for sustainable shipping solutions through ONE's green shipping service, ONE LEAF+.  This collaboration demonstrates how the industry can advance sustainable supply chain practices and marine transportation to deliver environmental benefits. Scope 3 GHG emissions As a freight forwarder, Yusen Logistics will offer this green shipping option to customers Under this agreement, ONE will use susta...

The world needs greener energy, but high costs are a barrier. Raw material and equipment prices have more than doubled, halting many projects. Can they reduce the financial risk of developing offshore wind farms and make walk-to-work (W2W) operations more affordable? Offshore wind turbines SOVs are the most efficient and preferred solution now for servicing offshore wind turbines, outperforming CTVs in safety, availability, and comfort. However, rising shipbuilding costs and new-build delive...

Ocean Network Express is pleased to announce a significant milestone in its corporate history with the naming of ONE Sparkle, the company's first owned and operated new building container vessel. Says Jeremy Nixon, CEO, "The naming of ONE Sparkle represents another important milestone for ONE. This vessel is our first owned newbuilding, and it also showcases our commitment to sustainable shipping with its innovative design and alternative fuel capabilities. As we expand our owned fleet, these a...

Hefring Marine and MSRS Navigation have announced a strategic partnership, with MSRS set to leverage Hefring’s advanced IMAS System to drive the development of cutting-edge GPS-denied navigation solutions for the maritime industry. This collaboration brings together two pioneering innovators in maritime technology to address the growing global challenge of GPS jamming and spoofing in commercial and defense maritime operations. Hefring Marine's maritime technology Hefring Marine's patent...

With the Hong Kong Convention (HKC) set to take effect this year, shipowners should ensure compliance with regulatory controls and inspections governing ship recycling for their vessels. DNV’s latest guidance paper “Safe and Green Recycling for Ship Owners” outlines how they can work in line with both existing EU Ship Recycling Regulations (EU SRR) and the HKC, coming into effect on June 26, 2025. Ship recycling process Ships often contain hazardous materials that can pose s...

INEOS, the global pioneering petrochemicals company, has selected ITT’s Svanehøj to supply CO2 pumps for the onshore facility and the first LCO2 carrier for Project Greensand in the Danish North Sea. This strategically significant order further strengthens Svanehøj’s position in carbon capture and storage (CCS), reinforcing its track record as a trusted specialist in critical equipment for liquefied gas. Cargo pumps for the new vessel INEOS has selected Svanehø...

Pioneering marine conservation charity, GreenSeas Trust, is proud to announce, three bilingual BinsForGreenSeas have been installed on Pearl Island in Qatar to reduce litter and stop plastics from entering the sea. Located off the coast of Doha, Pearl Island is a popular tourist destination boasting sophistication and luxury. The GreenSeas Trust bins have been positioned at key waterfront locations in the island’s marina, an area popular with tourists and the yachting community. Mar...

The International Maritime Cyber Security Organisation (IMCSO), an independent maritime standards organisation, has released its cybersecurity testing methodology for those maritime vessels looking to assess their risk and join the Cyber Risk Registry, a risk register database maintained by the IMCSO. The methodology aims to provide IMCSO-accredited cyber consultants and the senior maritime personnel they will be assessing with standardised testing by outlining test scope and the language...

IRClass Academy, the training arm of the Indian Register of Shipping, successfully conducted a one-day training programme on the Recruitment and Placement Services Licence (RPSL) and the Maritime Labour Convention (MLC) exclusively for Zodiac Maritime Agencies (India) Pvt. Ltd. The training, held on 6th February 2025, was in line with the requirements outlined in the RPSL gazette notification by the Government of India, which mandates RPSL holders to ensure regular training for their personnel....

Avikus, HD Hyundai's autonomous navigation technology developer, announced that it has joined forces with cartography innovator Savvy Navvy to add powerful functionality to its recently released NEUBOAT Dock II. Designed for yachts over 40-feet such as sportfishing vessels, power catamarans, centre consoles and sailing vessels, NEUBOAT Dock II gives boaters a bird’s eye view for easy docking, single or multiple camera views, object detection and a docking assist path. As part of the partn...

Strategic Marine, a pioneering provider of specialised aluminium vessels, is proud to announce the signing of a new contract with Odyssey Group to build a state-of-the-art multi-purpose survey vessel. Incorporating the proven success of new technologies for operational use in Australia. Under the terms of the agreement, Strategic Marine will construct the advanced survey vessel tailored to meet Odyssey Group’s specific operational needs. Recovery of survey equipment The vessel will also...

Offshore wind farms are currently serviced using Crew Transfer Vessels (CTVs) or helicopters for day operations, and Service Operation Vessels (SOVs) for extended periods. What if there were a CAPEX-smart design that reduces building costs by over 50% compared to an SOV and supplements the SOVs on most tasks? Greener energy The world needs greener energy, but high costs are a barrier. Raw material and equipment prices have more than doubled, halting many projects. Can users reduce the financ...

The TMS Ship Finance and Trade Conference will be held on February 18th at the Taj Exotica Resort on the Palm, Dubai and several top-quality speakers have now been confirmed as the exciting conference programme takes shape.  The overall theme of the conference will be ‘Financing green shipping solutions.’  Keynote presentations Proceedings will get underway with keynote presentations by two industry figures, Dr. Ibrahim Al Nadhairi, CEO of ASYAD Shipping, and Capt. Ammar...

Keel Laying of the Seventh Anti-Submarine Warfare ship (ASW SWC) (BY 529, INS Machilipatnam) of the project being built for the Indian Navy was held at Cochin Shipyard Limited by Rear Admiral Upal Kundu, VSM, Chief of Staff, Southern Naval Command on 29 Jan 2025.  Shri Madhu S Nair, Chairman and Managing Director, CSL, Director (Technical) and Director (Operations) of CSL, Executive Directors of CSL, General Manager (Ship Building), Warship Production Superintendent, Kochi, Senior official...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has concluded a contract with the Indonesian Maritime Security Agency (BAKAMLA) for the construction of an offshore patrol vessel (OPV). The vessel will be built at MHI's Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture, with completion and delivery scheduled for March 2028. Ability of maritime rescues This project is based on a grant agreement concluded in March 2024 between the Government...

The World Shipping Council welcomes the balance between sustainability and competitiveness struck in the European Commission’s Competitiveness Compass released that will form the basis for the EU’s Clean Industrial Deal.  WSC, however, called on the Commission to recognise that liner shipping is investing in Europe and urged the Commission to support the sector on its path to decarbonise supply chains, fostering open trade and protecting critical sea lanes...