Rising costs

During the DEEPDIVE - Analyst and Investor Underwater Day held today in Milan, Fincantieri presented its long-term strategic vision for the development of its underwater segment to the financial community, outlining a clear, ambitious, and already well-advanced path of industrial growth. Accounting for about 4% of Group revenue in 2024, the segment is set to double in 2027, reaching 8%, with expected revenue of approximately 820 million euros and estimated EBITDA of 152 million euros, with an EBITDA margin approaching 19%. Traditional shipbuilding activities Fincantieri aims to be a pioneering player in the development of this new strategic infrastructure Forecast results for 2025 and 2026 confirm the strength of this trend, with respective revenue projected at around 660 million and 720 million euros and EBITDA margins of 17.4% and 18.0%, well above the Group’s traditional shipbuilding activities. Now, the underwater domain is a strategic area for security, energy, environmental monitoring, and underwater communications. Fincantieri aims to be a pioneering player in the development of this new strategic infrastructure, leveraging its ability to integrate complex capabilities and high-tech industrial assets. Submarine design and construction To oversee this transformation with consistency and vision, the Group has established the Underwater Technology Hub, an integrated industrial structure that coordinates all civil, military, and dual-use system activities through a single command capable of ensuring market presence and internalisation of proprietary technologies with high added value. The underwater segment brings together under one management the Group’s capabilities in submarine design and construction, WASS Submarine Systems' technologies in effectors and acoustic sensors, IDS - Ingegneria dei Sistemi’s expertise in unmanned, radar, and advanced communication systems, and Remazel Engineering’s know-how in topside systems for the deployment, recovery, and operational interfacing of autonomous vehicles. Driver of underwater transformation Group positions itself as a driver of underwater transformation, offering integrated solutions The global market for the underwater sector is estimated at approximately 50 billion euros per year, with a component accessible to Fincantieri of about 22 billion euros yearly. In this context, the Group positions itself as a driver of underwater transformation, offering integrated solutions ranging from defense to infrastructure security, offshore energy, aquaculture, and deep-sea mining. Integrated operating model Pierroberto Folgiero, CEO and General Manager of Fincantieri, stated: "The consolidation of cross-sector demand in defense, dual-use, and civilian applications is making underwater technology a strategic priority for governments and industries. Fincantieri is thus ready to turn its competitive advantage into industrial leadership, capitalising on the Group’s long-standing experience, clear vision, and integrated operating model." "Our unique positioning as a full-line player enables us to generate scale, cross-segment synergies, and the optimisation of our industrial footprint. We’re already shaping a portfolio aligned with the operational needs of both the national system and our international partners. Our course is set: strengthen critical capabilities, lead the sector’s evolution, and contribute – responsibly and ambitiously – to building the underwater ecosystem of the future.” Autonomous underwater vehicles Fincantieri has now also announced the signing of an MoU between IDS and Graal Tech S.r.l Further strengthening this technology platform, Fincantieri now also announced the signing of a Memorandum of Understanding between IDS and Graal Tech S.r.l, a pioneering Italian company in underwater mechatronics.  The agreement entails exclusive collaboration for the development and commercialisation of small and medium-sized autonomous underwater vehicles, their control and simulation systems, and the creation of a national centre for testing, qualification, and training, intended to become a benchmark for developing new professional skills in underwater robotics. Advancing the national system The agreement reinforces Fincantieri’s role as both a system integrator and a developer of enabling proprietary technologies. With this agreement, Fincantieri reaffirms its ability to leverage the industrial ecosystem it operates in and contributes to maintaining and advancing the national system by involving highly specialised local firms across multiple key sectors in large-scale, high-value projects.

They are pleased to announce that Grieg Logistics, which Inchcape Shipping Services acquired in June 2024, will officially change its name to Inchcape Shipping Services on 19 May 2025. This rebranding marks Grieg Logistics' full integration into the Inchcape family, uniting the strengths under one global brand. While Grieg Logistics' name is changing, the commitment to excellence remains steadfast. The dedicated team and exceptional customer service that has defined Grieg Logistics will continue to thrive under the Inchcape banner. They are proud to retain the "Grieg Feeling" that the customers have come to know and trust. Grieg Logistics’ best aspects Grieg Logistics’ best aspects and enhance them with Inchcape's global network, local experience This transition will preserve Grieg Logistics’ best aspects and enhance them with Inchcape's global network, local experience, investments in technology, and extensive service portfolio. Customers can expect the same personalised attention and expertise, now backed by Inchcape's comprehensive resources and worldwide reach. The coverage includes offices in Tønsberg, Larvik, Bergen, Mongstad, Kristiansund and Mosjøen, offering ship agency services along the Norwegian coastline, as well as operating terminals in Tønsberg, Mosjøen and Skålevik. Inchcape's global network and expertise "We are thrilled to welcome Grieg Logistics fully into the Inchcape family. This rebranding is a testament to our shared values and commitment to exceptional service. The 'Grieg Feeling' will continue to be a cornerstone of our operations, now enhanced by Inchcape's global network and expertise." "With the acquisition of Grieg Logistics and the integration of its people, Inchcape is better equipped to provide exceptional service to customers operating in Scandinavia," Philippe Maezelle, CEO of Inchcape Shipping Services. At Inchcape Shipping Services, the dedicated team in Norway is committed to delivering exceptional support to the clients. They look forward to this exciting new chapter and the opportunities it brings.

Marine Evacuation Systems (MES) served by liferafts is an efficient and widely used method for mass evacuation at sea.  With passenger ship capacities increasing, the ability of MES to evacuate hundreds of people in a matter of has been tested exhaustively in Beaufort Sea State 6 conditions. MES and liferafts MES and liferafts – five things they need to know To be compliant, liferafts must be designed in accordance with SOLAS Chapter lll and the LSA Code. All VIKING liferafts are compliant with these standards and are fully approved for use with MES by the following authorities: EU Maritime Equipment Directive, Russian Maritime Register of Shipping, Canadian Coast Guard and Australian Maritime Safety Authority. MES is mostly deployed on passenger vessels as a supplement or replacement for lifeboats. Chutes and slides are the two most common technologies for getting evacuees from deck to sea level. MES solutions are also available for the offshore sector, where evacuation heights can go as high as 81m. Here, the liferafts are served by a zig-zag chute made from aramid. Liferafts are subjected to specific tests at intervals according to international regulations to ensure their readiness for use with the MES: Gas inflation stress test every 5 years using own CO2 cylinder; necessary additional pressure test at at 11 years, then annually; floor seam test to check seams of the internal floor conducted at 10 years, then annually. In addition to Factory Acceptance Tests, type approvals and performance verification at its dedicated shoreside facilities, VIKING’s Development Test and Verification (DTV) department undertakes sea trials in northern waters – typically at depths of 200-300 metres off the coasts of Norway, the Shetland Islands, the Faroe Islands and Iceland. While not addressed separately by the Polar Code, MES must be operational at the Polar Service Temperature (at least 10°C colder than the lowest Mean Day Low Temperature), be protected from ice and use enclosed survival craft. MES and VIKING – five things worth knowing VIKING has placed 1,500 marine evacuation systems in operation on passenger ships over a 30-year period and an additional 500+ SES-type systems for offshore assets. VIKING supplies Chute and Dual Chute Systems, Mini Chute Systems, Offshore Chute Systems, Slide Systems, Mini Slide Systems, and Direct boarding liferafts. In fact, a VIKING MES is available to meet the needs of everything from a superyacht or ferry to the largest cruise ships or offshore platforms in the world. VIKING offers MES solutions in versions designed to evacuate 51 persons to the highest capacity chute systems on the market, handling over 900 passengers in 30 minutes. For the offshore systems, the requirement followed is 10 minutes. Beyond SOLAS compliance, all VIKING offshore evacuation systems are constructed according to specifications outlined in the MODU Code, NORSOK, PSA (Petroleum Safety Authority Norway) regulations, NMA regulations, and more. Only VIKING can offer solutions for all offshore installation types, including wind farm substations. Each MES requires only 1-2 crew to deploy. Systems feature chutes with 1-4 inflatable liferafts attached in a stowage box launched from the evacuation deck to sea level. VIKING liferafts - five things it’s nice to know MES and all associated liferafts from VIKING are available under extended 30-month service period agreements. Fully approved according to SOLAS and HSC codes, VIKING ‘S30’ liferafts have been shown to reduce maintenance costs without compromising safety. VIKING’s range of throw-overboard and davit-launchable liferafts is available in standard versions and in automatically self-righting versions with stowage heights up to 60m. Due to restrictions placed on training facilities during COVID-19, VIKING developed a series of additional e-learning tools to reinforce safety messaging for MES serving crews. The life expectancy of liferafts from VIKING is 15-20 years. While IMO regulations envisage the average weight of persons abandoning ship as 82.5 kgs, VIKING is working on solutions based on scaling up equipment, seating and emergency kit contents to accommodate higher average weights up to 110 kg.

When the Ballast Water Management (BWM) Convention came into force in 2004, it was in response to a crisis we couldn’t afford to ignore—one where invasive aquatic species, carried silently in ships’ ballast tanks, were devastating marine ecosystems. Now, two decades later, compliance with this environmental safeguard is no longer optional—and yet, as recent industry findings reveal, record-keeping failures account for 58% of compliance issues. That’s not a technology problem. That’s a documentation problem —one rooted deeply in data management practices and crew training, where small oversights lead to documentation issues, that may cascade into costly compliance failures. And that’s precisely where digital systems excel, guiding crews clearly to avoid mistakes in the first place. New ballast regulations At the IMO’s 82nd Marine Environment Protection Committee (MEPC 82), new ballast water record-keeping regulations were approved, coming into effect from 1 February 2025. These updates mark a significant tightening of documentation standards—and they could catch unprepared shipowners off guard if not acted on promptly. Why ballast water record-keeping is back in the spotlight These new updates aim to change that—and they’re stricter, smarter, and more detailed than before While MEPC 82 made headlines for advancing decarbonisation policies and ECAs in the Arctic and Norwegian Sea, it also honed in on ballast water—a topic that has quietly regained importance. The committee approved critical updates to how ballast water operations and ballast water management system (BWMS) maintenance are recorded.  The goal: Enhance transparency, reduce ambiguity, and reinforce environmental protection by making records more structured, traceable, and actionable. This renewed focus is both a warning and an opportunity. In recent years, too many Port State Control detentions and inspection delays have stemmed not from hardware failures, but from poorly maintained or unclear ballast water records. These new updates aim to change that—and they’re stricter, smarter, and more detailed than before. What’s changing: Bypass scenarios and maintenance logging The revised guidelines introduce two new scenarios for vessels dealing with challenging water quality (CWQ) in ports: Scenario 3: A reactive bypass of the BWMS due to unforeseen poor water quality. Scenario 4: A pre-emptive bypass based on anticipated CWQ conditions. These additions are essential for vessels operating globally, particularly those above 400GT. They ensure that alternative operations—like ballast water exchange plus treatment (BWE + BWT)—are clearly documented. Without accurate records, even legitimate actions can fall short of compliance. Ballast Water Management Plan and OEM manuals MEPC 82 also mandates that BWMS care procedures must now be recorded directly in BWRB MEPC 82 also mandates that BWMS maintenance procedures must now be recorded directly in the Ballast Water Record Book (BWRB), in line with the ship’s Ballast Water Management Plan and Original Equipment Manufacturer (OEM) manuals. Responsible crew members must sign off on these records, ensuring traceability and crew accountability. This step isn’t just regulatory housekeeping—it aligns ballast water maintenance with how other onboard systems are already tracked, from engines to emissions. It’s a logical, overdue move toward consistency across compliance. Paper or digital: The format dilemma While the BWRB can still be maintained on paper or electronically, the burden of new structured data fields and stricter reporting timelines will be felt most by those still tied to manual systems. Each additional layer of documentation increases the chance of human error—and with nearly 6 in 10 compliance failures already stemming from admin issues, that’s a risk many operators can’t afford. This is where digital solutions can offer real relief. At NAPA, we’ve already implemented the latest IMO guidelines into our electronic logbook, so crews can comply with MEPC.369(80) requirements out of the box. With ready-made entry templates and smart input validation, data entry is quick, accurate, and audit-ready. NAPA implemented the latest IMO guidelines into an electronic logbook. Better still, once updated, operators can apply for the BWM Convention Electronic Record Book Declaration from their flag—ensuring that compliance is recognised internationally under MEPC.372(80). Less admin, more assurance Electronic logbooks don’t just streamline compliance—they enable better decision-making. When connected to onboard systems, they automatically pull operational data into the BWRB, reducing manual work and error margins. This frees up the crew to focus on operations and safety, rather than paperwork. From a management perspective, real-time visibility into ballast operations and maintenance records helps shore teams stay ahead of inspections and identify potential compliance gaps early. One logbook, many regulations While ballast water is the focus today, it’s not the only regulation demanding attention While ballast water is the focus today, it’s not the only regulation demanding attention. At NAPA, we’ve designed our logbook to support a wide range of evolving compliance frameworks—including MARPOL, EU-ETS, EU-MRV, CII, and the Garbage Record Book. This unified approach removes silos, reduces duplicated effort, and gives operators a more holistic view of vessel performance and compliance. A smarter way forward With decarbonisation and environmental regulations shifting at breakneck pace, even the most experienced crews and fleet managers can struggle to stay up to date. That’s where technology has a crucial role to play—not to replace expertise, but to support it. At NAPA, we work closely with shipowners and operators to configure regulatory record book templates according to their fleet workflows and each vessel’s specific operational profile. This ensures accuracy, ease of use, and most importantly, continuous compliance—even as the rules keep changing. Because in today’s compliance landscape, staying ahead isn’t just about meeting the minimum. It’s about building systems that help you adapt, respond, and thrive. And that starts with getting the record-keeping and data management right.

President Donald Trump has already made plenty of headlines since taking up his second term in the White House, including with the announcement of numerous new tariffs on imports. The 47th United States President issued three executive orders on February 1st 2025, just days after his inauguration, which directed the US to impose an additional 25 percent ad valorem rate of duty on imports from Canada and Mexico, as well as ten percent on imports from China. How Trump’s 2nd term as US President Cleveland Containers has analysed the early reactions to these announcements Excluding Canadian energy resources exports – which instead will be hit with a ten percent tariff – the tariffs have been applied to all imports which are either entered for consumption or withdrawn from warehouse for consumption on or after 12:01 am Eastern Standard Time on February 4th 2025. President Trump also told reporters on February 8th 2025 that a 25 percent tariff on all American steel and aluminium imports was coming into effect across the US during February. Leading 40ft shipping container supplier Cleveland Containers has analysed the early reactions to these announcements and how President Trump’s second term as US President could affect the world’s shipping industry, especially when looking back at his first term. Reaction to President Trump’s tariff announcements Mexico, Canada and China were all quick to react to President Trump’s announcement of tariffs on imports. Mexican President Claudia Sheinbaum said her country would vow for resilience against the measures, while a senior government official in Canada said that their country would challenge the decision by taking legal action through the necessary international bodies. China has also said it would be challenging the tariffs at the World Trade Organisation. According to the country’s finance ministry, as reported on by Geopolitical Intelligence Services, Beijing were moving to place levies of 15 percent on American coal and liquefied natural gas, as well as levies of ten percent on crude oil, certain vehicles and farm equipment. Beginning of making America rich again When it comes to the announcement of the tariff on all American steel and aluminium imports, President Trump told reporters in the Oval Office: "This is a big deal, the beginning of making America rich again. Our nation requires steel and aluminium to be made in America, not in foreign lands.” Francois-Phillippe Champagne, the Minister of Innovation in Canada, stated that the tariffs were "totally unjustified" though, before adding in a post on X: "Canadian steel and aluminium support key industries in the US, from defence, shipbuilding and auto. We will continue to stand up for Canada, our workers, and our industries." How might President Trump’s 2nd term affect shipping sector? Bruce Chan, an analyst in the Transportation and Future Mobility sectors at wealth management and investment banking Just ahead of President Trump taking office for the second time, J. Bruce Chan, an analyst in the Transportation and Future Mobility sectors at wealth management and investment banking firm Stifel, believed that the shipping industry was prepared for the new tariffs. However, he also stated to the Morning Star: "President Trump's Administration promises to usher in a new trade and tariff regime. As such, it's difficult to assess the ultimate impact to the freight transportation industry. Prima facie, we believe tariffs are a drag on freight demand, effectively resulting in higher costs for shippers that are generally passed on to end consumers over time." Attention to the American sanction announcements Mr. Chan went on to note that those involved in shipping containers across continents should be paying particular attention to the American sanction announcements. He commented: "Because almost all trans-Pacific trade moves over the ocean, we believe ocean container shipping will see the largest direct impact. But for shippers and retailers, there is no cheaper way to move goods than over the ocean, so there are few modal alternatives if production remains in Asia. We see the most risk for maritime shipping, with containers and dry bulk being more acute, with more insulation for oil and gas tankers." Shipping news and intelligence service Various sources have looked back on President Trump’s first term to get an idea of what could be expected As President Trump has just become his second term as US president and the American sanctions have only just been announced, it will take time to see what the true impact will be. However, various sources have looked back on President Trump’s first term to get an idea of what could be expected. For example, shipping news and intelligence service Lloyd’s List pointed out that tariffs introduced when President Trump was last in the White House had a noticeable effect on both spot container freight rates and import timing. Cargoes were pulled forward in the second half of 2018 by importers as they looked to beat tariff deadlines, which resulted in higher spot rates temporarily before affecting rates in 2019 because of inventory overhang. Could repeat results be seen across 2025 and 2026? Long-life inputs and goods from the tariff countries Jason Miller, a freight economist and professor of supply chain management at Michigan State University, certainly seemed to think so. Speaking to Lloyd’s List before President Trump’s 2024 presidential victory when the tariffs were only part of campaign proposals at that point, he said: “We will see front-loading like we have never seen before in 2025. There would be a massive pull-forward of demand as everybody rushes to bring in long-life inputs and goods from tariff countries, especially China.” Shipping demand and routes Shipping demand and routes could be affected due to trade uncertainty too Meanwhile, international shipping and forwarding agents Supreme Freight Services reported that increased tariffs may cause disruption to shipping volumes and global supply chains, if trade policies introduced by President Trump during his first term are anything to go by.  Shipping demand and routes could be affected due to trade uncertainty too, though the publication also acknowledged that increased investment in ports and inland waterways across the US could improve efficiency for domestic and international trade alike. New American sanctions Cleveland Containers has looked to reassure its customers that any disruption caused by the new American sanctions will be minimised at the firm. Hayley Hedley, the company’s Commercial Director, stated: “Recent history certainly suggests that the new tariffs being introduced by President Trump will have various knock-on effects across the shipping industry." “Fortunately, Cleveland Containers has a continuous supply of shipping containers entering the UK. We work with several agents to ship from various locations, as well as having good stock on the ground, so are confident in our ability to provide for our customers.”

The shipping industry is currently navigating a profound transformation driven by environmental concerns, new emissions targets, and evolving regulations. As vessel owners and operators seek to reduce emissions while remaining competitive, determining the right strategy has become increasingly complex. Factors such as alternative fuel availability, fluctuating prices, and an ever-expanding range of technological solutions have made decision-making anything but straightforward. Lack of motivation Regulations evolve, technologies persist to advance, and can differ greatly from port to port The complexity arises from the many moving parts of the industry. Regulations evolve, technologies continue to advance, and infrastructure can differ greatly from port to port. For vessel owners committed to reducing their environmental impact, the challenge isn’t a lack of motivation, it’s finding the most effective way to navigate the myriad of options available. Hybrid propulsion systems One method gaining traction is data-driven decision-making through digital modelling. Rather than making decisions based on guesswork, digital modelling allows owners and operators to create a detailed representation of a vessel and simulate the performance of different strategies or technologies over its lifetime. That way, they can ‘test’ these approaches before committing large investments—particularly useful when considering new fuels or hybrid propulsion systems that are still maturing. Decarbonisation Modelling Service Digital modelling accounts for variables such as vessel speed, power needs, and route patterns Digital modelling accounts for variables such as vessel speed, power needs, and route patterns, applying machine-learning algorithms to find the most promising design or retrofit. It can also show how ideas might evolve if regulations tighten, or new fuels become more practical. At Wärtsilä, our Decarbonisation Modelling Service is designed to guide shipowners and operators through this maze of choices. In developing this tool, we have observed that shipowners required more than an “off-the-shelf” solution. They needed insights based on their own operational data, combined with practical knowledge of costs and likely regulatory trends. Benefits of digital modelling One of the main benefits of digital modelling is its flexibility. Depending on an owner’s goals, whether that’s meeting today’s regulations or planning for future mandates, they can explore multiple options. A fleet operator might compare installing hybrid batteries versus retrofitting for LNG or consider alternative fuels such as ammonia and methanol, or carbon capture. These simulations can factor in fuel prices, available bunkering infrastructure, and even unexpected events like global supply chain disruptions or future carbon taxes. Ship’s actual operational profile At Wärtsilä we often liken digital modelling as the closest thing to a crystal ball At Wärtsilä we often liken digital modelling as the closest thing to a crystal ball. While it isn’t perfect, it significantly improves our ability to make informed decisions and maintain flexibility as market conditions or regulatory landscapes shift. Consider, for instance, a mid-sized container ship operating in Asia. The owner, eager to lower CO2 emissions, might be unsure whether to retrofit for LNG immediately or wait for ammonia infrastructure to mature. Using a digital model based on the ship’s actual operational profile, we can test both scenarios—evaluating fuel price trends, port facilities, and the vessel’s remaining service life. Adopt an interim strategy If the model indicates that an LNG retrofit offers a promising return on investment along with moderate emissions cuts, the decision becomes clearer. Alternatively, if the potential for ammonia becomes evident sooner, it might be wiser to adopt an interim strategy or consider dual-fuel engines. It’s important to recognise that decarbonisation is not merely a box-ticking exercise to meet current regulations; it is a dynamic, ongoing process. With tightening rules from bodies like the International Maritime Organization (IMO) and the EU on carbon intensity, and with cargo owners increasingly demanding transparency, the need for adaptive, data-driven solutions is more critical than ever. LNG with battery storage Others might make quick retrofits to comply with rules and plan for bigger upgrades later Another strength of data-driven decarbonisation is that it is not a one-off activity. As a vessel operates, new information becomes available. Owners can update their models to reflect these shifts, allowing for continuous refinement. This matters because what is optimal now may only be a temporary measure. Some operators use LNG with battery storage for a few years, then switch to next-generation fuels as they become viable. Others might make quick retrofits to comply with regulations and plan for bigger upgrades later. Raw data into actionable insights There is also a perception that gathering and interpreting data is too complex or costly. However, many modern vessels are already equipped with the necessary sensors and tracking systems, and analytics software has become more accessible. The real value lies in transforming raw data into actionable insights. Digital models not only help in planning for evolving market conditions but also enable us to visualise and execute long-term strategies. Portion of global CO2 emissions The real test is balancing environmental aims with retail realities and regulatory forces Shipping contributes a notable portion of global CO2 emissions, giving the industry strong financial and ethical reasons to embrace cleaner operations. The real test is balancing environmental aims with commercial realities and regulatory pressures. With mounting pressure from regulators, customers, and investors, now is an opportune time to adopt data-driven approaches. A continuously updated model provides a practical way to keep up with changes in the market and policy landscape. By integrating operational data, anticipating possible scenarios, and remaining open to new solutions, the maritime industry can cut emissions without sacrificing competitiveness. Shipowners and operators Shipping is an industry that operates on tight margins and these tools must deliver financial stability as well as ongoing compliance. Digital modelling is not just another technical tool; it’s a forward-looking process that helps shipowners and operators steer a confident course in uncertain waters. As more companies experiment with alternative fuels, hybrid propulsion, and emerging technologies, having a robust method for evaluating these options is absolutely essential.

Ammonia is gaining traction as a future fuel in the maritime industry, primarily due to its potential to significantly reduce greenhouse gas emissions. A key driver for ammonia's interest is that it can be carbon-free when combusted, which aligns with the maritime industry's increasing pressure to meet emissions regulations. However, most ammonia production currently relies on fossil fuels. Transitioning to "green ammonia" production is crucial for sustainability. If "green ammonia" is produced using renewable energy sources, it offers a pathway to near-zero emissions shipping. Safety measures and regulations Ammonia’s volumetric energy density – higher than hydrogen – makes it more practical for onboard storage. However, ammonia is toxic, which requires stringent safety measures and regulations for handling and storage. The combustion of ammonia can produce nitrous oxide (N2O), a potent greenhouse gas. Therefore, mitigation technologies are needed. Building the necessary infrastructure for ammonia bunkering and supply will be a significant undertaking. Developing guidelines for safe use Ammonia is poised to play a significant role in the maritime industry's transition to a future The International Maritime Organization (IMO) is developing guidelines for the safe use of ammonia as a marine fuel. Increasing numbers of companies are investing in the development of ammonia-fueled vessels and technologies.   European Union (EU) legislation, such as the EU Emissions Trading System (ETS) and the FuelEU initiative to support decarbonisation, are pushing the maritime industry towards the use of alternative fuels, which is increasing the potential of ammonia. While challenges remain, ammonia is poised to play a significant role in the maritime industry's transition to a more sustainable future. Ongoing research and development   Ongoing research and development are focused on improving safety, reducing emissions, and scaling up production. In essence, ammonia offers a promising pathway for the maritime industry to reduce its carbon footprint, but its widespread adoption depends on overcoming technical and logistical challenges. Working toward the future of ammonia Progress is already happening as the maritime industry works toward a future that includes the use of ammonia as a fuel. For example, one project underway aims to be a pioneer in establishing a comprehensive and competitive supply chain to provide clean ammonia ship-to-ship bunkering in the U.S. West Coast. Progress is already occurring as the maritime industry works toward a future A feasibility study is being conducted at the Port of Oakland, Benicia, and nearby major ports on the U.S. West Coast. A Memorandum of Understanding (MOU) between American Bureau of Shipping, CALAMCO, Fleet Management Limited, Sumitomo Corp. and TOTE Services LLC is jointly conducting the feasibility study. "We are proud to share our industry-pioneering expertise in ammonia as a marine fuel to support this study on the U.S. West Coast,” said Panos Koutsourakis, Vice President of Global Sustainability at the American Bureau of Shipping. “Our expertise in developing safety guidelines will support the consortium to address the ammonia-specific set of safety and technology challenges.” More global ammonia developments In another development, three LPG/ammonia carrier ships have been ordered at the South Korean shipyard HD Hyundai Heavy Industries (HD HHI). Danish investment fund European Maritime Finance (EMF) and international shipping company Atlas Maritime have confirmed the order. HD HHI’s parent company, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), revealed the order for $372 million in March 2024. The three 88,000 cubic-metre LPG dual-fuel carriers, capable of carrying and running on ammonia, are scheduled for delivery in December 2027. The vessels will be named EMF Viking I, II, and III. Also, Lloyd’s Register (LR) and Guangzhou Shipyard International have signed a joint development project to design the world’s largest very large ammonia carrier (VLAC). The design of the 100,000-cubic-metre vessel has been assessed in line with LR’s Structural Design Assessment and prescriptive analysis. The gas carrier will have an independent IMO Type B tank for safe carriage of the chemical. Zero-emissions operations The cargo ship, which will be 7,800 dwt, is designed to transport timber from Norway to Europe “As major economies look to co-fire ammonia in their coal power stations to reduce the CO2 footprint of their national energy mix, shipping will play a key role in distributing clean hydrogen-based commodities such as ammonia, thereby supporting nations to meet their Paris Agreement commitments," says LR's Chief Executive Nick Brown. Furthermore, a partnership of companies from Norway has ordered a pioneering short-sea cargo ship that will advance the industry’s ability to provide zero-emissions operations. The cargo ship, which will be 7,800 dwt, is designed to transport timber from Norway to Europe and will be the first to operate on ammonia and electricity. Amogy’s ammonia-to-electrical power system A start-up company focusing on ammonia-to-power technology, Amogy, demonstrated the first tugboat powered by its cracking technology just short of the fourth anniversary of the company’s launch. The trip of a 67-year-old tug along a tributary of New York State’s Hudson River is part of the company’s works to develop and commercialise its technology to decarbonise the most difficult industries. Amogy’s ammonia-to-electrical power system splits, or “cracks,” liquid ammonia into its base elements of hydrogen and nitrogen. The hydrogen is then funnelled into a fuel cell, generating the power for the vessel. Research points to the risks of ammonia The chemical, made of hydrogen and nitrogen, can also be burned as a zero-carbon fuel Today and in the future, ammonia, a main component of many fertilisers, can play a key role in a carbon-free fuel system as a convenient way to transport and store clean hydrogen. The chemical, made of hydrogen and nitrogen, can also be burned as a zero-carbon fuel. However, new research led by Princeton University scientists illustrates that even though it may not be a source of carbon pollution, ammonia's widespread use in the energy sector could pose a grave risk to the nitrogen cycle and climate without proper engineering precautions. Use of ammonia U.S. National Science Foundation (NSF)-supported research found that a mismanaged ammonia economy could ramp up emissions of nitrous oxide, a long-lived greenhouse gas around 300 times more potent than carbon dioxide and a major contributor to the thinning of the stratospheric ozone layer. The use of ammonia could lead to substantial emissions of nitrogen oxides, a class of pollutants that contribute to the formation of smog and acid rain. And it could directly leak fugitive ammonia emissions into the environment, forming air pollutants, impacting water quality and stressing ecosystems by disturbing the global nitrogen cycle. Negative impacts of an ammonia economy The researchers found that the potential negative impacts of an ammonia economy "We have great hope that ingenuity and engineering can help reduce our use of carbon-based energy sources," said Richard Yuretich, a program director in NSF's Division of Earth Sciences. "But caution is advised because of unintended environmental spillover effects that may result from new technology." The researchers found that the potential negative impacts of an ammonia economy may be minimised with proactive engineering practices, but the possibility of risks should not be taken lightly. Addressing an inconvenient reality As interest in hydrogen as a zero-carbon fuel has grown, so too has an inconvenient reality: It is notoriously difficult to store and transport over long distances, requiring storage at either temperatures below -253 degrees Celsius or at pressures as high as 700 times atmospheric pressure. Ammonia, on the other hand, is much easier to liquify, transport and store, and capable of being moved around similarly to tanks of propane. Nonetheless, the cycle of nitrogen is delicately balanced in Earth's critical zone, and extensive research must be undertaken to investigate the repercussions of ammonia combustion and to develop new methods to minimise the risks. Challenges of ammonia as a maritime fuel Here's a breakdown of the key challenges of using ammonia for maritime fuel:   Toxicity and Safety: For human health, ammonia is highly toxic, posing a serious risk to human health through inhalation or skin contact. This necessitates stringent safety protocols, advanced leak detection systems, and thorough crew training. Relating to the environment, leaks can also harm aquatic ecosystems, requiring robust containment and mitigation measures. Combustion Challenges: Ammonia's combustion characteristics are less favourable than traditional fuels, requiring modifications to engine design and potentially the use of pilot fuels. Emissions: Combustion can produce nitrogen oxides (NOx) and nitrous oxide (N2O), both of which are harmful pollutants. Mitigating these emissions is crucial. "Ammonia slip" is also a concern, in which unburnt ammonia is released. Infrastructure and Supply Chain: Establishing a global network of ammonia bunkering infrastructure is a massive undertaking, requiring significant investment and coordination. Scaling up "green ammonia" production, using renewable energy, is essential for its sustainability. This requires a robust and reliable supply chain. Storage: Ammonia has specific storage requirements, and onboard storage systems must be designed for safety and efficiency. International Standards Needed: Consistent and comprehensive international regulations and standards are needed for the safe handling, transportation, and use of ammonia as a marine fuel. While the IMO is developing Guidelines, complete and ratified rules are still needed. Economic challenges: "Green ammonia" is currently more expensive than traditional fuels, although costs are expected to decrease as production scales up. Significant investments are needed in research, development, and infrastructure to make ammonia a viable maritime fuel. Also, dedicated ammonia-fueled engines are still under heavy development, and do not have widespread availability. The path to commercialisation Overcoming the variety of technical and other obstacles will require collaboration among governments, industry stakeholders, and research institutions. The timeline for ammonia deployment in maritime applications is actively unfolding, with key milestones happening now and soon. 2025 marks the first trials of two-stroke, ammonia dual-fuel engines on oceangoing ships. Engine manufacturers like MAN Energy Solutions and WinGD are progressing with their engine development, with initial deliveries soon. These pilot projects are crucial for gathering real-world data and building confidence in ammonia as a marine fuel.   Development of comprehensive regulations As the maritime industry faces, ammonia is hoped to play a growing role in the fuel mix Gradual commercialisation will follow in the late-2020s as the technology matures and the infrastructure develops. The focus will be on refining engine technology, improving safety protocols, and establishing bunkering facilities in key ports. Wider adoption will likely follow in the 2030s, depending on factors such as the cost of green ammonia, the development of comprehensive regulations, and the expansion of the global supply chain. As the maritime industry faces increasing pressure to decarbonise, ammonia is expected to play a growing role in the fuel mix. Future of maritime It's likely that a combination of ammonia and other alternative fuels and technologies will be used in the future of maritime. Alternatives include methanol, liquid natural gas (LNG), hydrogen, biofuels, electric propulsion, and even nuclear power.  Ammonia is a strong contender, bit it faces stiff competition from other promising technologies. The maritime industry's transition to a sustainable future will likely involve a diverse mix of fuel solutions.

The Dark Fleet refers to a network of vessels that operate outside of standard maritime regulations, often used to transport sanctioned goods such as oil. These shadowy vessels are also referred to by terms such as Parallel Fleet and/or Shadow, Gray or Ghost fleet. The terms are all manifestations of the same thing – ships that are owned, structured, and operated to avoid exposure to sanctions. Fleet of ships “In fact I would prefer that we use the term Parallel Fleet because it more accurately describes what it is,” says Mike Salthouse, Head of External Affairs, of NorthStandard, a Protection and Indemnity (P&I) insurer. “Specifically, it is a fleet of ships operating in parallel to mainstream shipping while avoiding use of service providers that are subject to sanctions legislation.” Modern shipping sanctions Sanctions were to be enforced not just against the sanctions-breaking vessel but also the services Modern shipping sanctions can be traced back to the introduction of the U.S. Comprehensive Iran Sanctions Accountability and Divestment Act 2010 or “CISADA”.  Under CISADA for the first time, sanctions were to be enforced not just against the sanctions-breaking vessel but also the services (for example insurance, class, flag, banks) that the vessel used. EU/G7 Coalition adopting sanctions As a result, all maritime service providers sought to distance themselves and introduce contractual termination clauses in their service contracts forcing such vessels to either trade without such services or to access them from non-sanctioning jurisdictions. This led immediately to the creation of mainly Iranian ships that could continue to carry cargoes subject to western economic sanctions – such as Iranian oil. However, the fleet has grown exponentially following the EU/G7 Coalition adopting sanctions targeting Russian shipping. Today the majority (but not all) of the Dark Fleet is engaged carrying Russian cargoes – but other trades include Iran, North Korea, and Venezuela. Protection of the marine environment Dark Fleet undermines transparent governance policies that ensure the welfare and safety “It might be that a removal of Russian sanctions would remove the need for such a fleet,” adds Salthouse. “But for so long as nations use maritime sanctions as a foreign policy tool, my own view is that the Dark Fleet phenomenon will continue to facilitate sanctioned trades.” The Dark Fleet undermines transparent governance policies that ensure the welfare and safety of those on board and the protection of the marine environment. In recent years, the safety of tankers has improved significantly. These improvements have been driven by factors such as greater operational oversight from the oil majors, younger double hull vessels, greater operational scrutiny, and more rigorous legislation. Safety has been prioritised over all else. Transport oil using ships and services “The commercial dynamics that apply to the Dark Fleet are very different,” says Salthouse. “The overwhelming commercial imperative is not safety but to transport oil using ships and services to which sanctions legislation does not apply. As such, the customer and regulatory oversight is much reduced.” The vessels used by the Dark Fleet also tend to be older. Even if it were possible to find shipyards that were prepared to build for use carrying sanctioned cargoes (and so risk secondary sanctions depriving them of access to western financial markets and insurers), the long build times mean that such ships would not become available for several years. As such, the vessels that comprise the Dark Fleet tend to be end-of-life and aged 15 years or older. Commercial reinsurance markets The insurers of the ship will likely have been unable to access commercial reinsurance markets used If and when an accident happens, the ability of the insurer to respond by using commercial salvors and pollution responders will be curtailed by sanctions legislation, and the insurers of the ship will likely have been unable to access commercial reinsurance markets commonly used to access the high levels of cover required to fully compensate victims. Sanctioning individual ships is an effective way of addressing the Dark Fleet because shipping that trades internationally invariably needs access to western financial and service markets, which a designation deprives them of. Collaboration with mainstream shipping EU/G7 Coalition States to date have designated over 100 vessels, but in practical terms, the Dark Fleet is much larger than this – somewhere in the region 600 to 1000 vessels – so more needs to be done, says Salthouse. Thought also needs to be given as to how to dispose of old designated tonnage (as designation will prevent scrapping) whilst at the same time addressing the supply side so that designated ships cannot simply be replaced. “That can only be achieved in collaboration with mainstream shipping which should be consulted and partner with governments to achieve their aim,” says Salthouse. Majority of shipowners and service Dark Fleet will thrive for so long as maritime sanctions are deployed by states as a means of foreign policy goals Without concerted state action delving with the existing fleet and its access to new ships, the Dark Fleet will thrive for so long as maritime sanctions are deployed by states as a means of achieving their foreign policy goals. The cost of compliance to mainstream shipping is huge. The vast majority of shipowners and service providers deploy significant resources to avoid inadvertently contravening applicable sanctions. EU/G7 Coalition partners should recognise that and work with the shipping industry to marginalise the commercial space served by the Parallel/Dark Fleet rather than simply imposing ever greater and more complex compliance requirements, comments Salthouse. Use of EU/G7 Coalition service In a majority of cases, the Parallel Fleet is not breaking any laws. With the exception of the UN sanctions programme directed at North Korea, the Parallel/Dark Fleet can trade perfectly lawfully. For example, it is not illegal for a Russian flagged ship, insured in Russia, classed in Russia and trading with non-EU/G7 Coalition partners to transport Russian oil sold above the price cap through international waters to non-EU/G7 Coalition states provided the trade does not make use of EU/G7 Coalition service providers. Use of established service providers The Parallel/Dark Fleet is bad for shipping and undermines EU/G7, and on occasions, UN sanctions programmes, says Salthouse. States cannot control a trade when the ships carrying the cargoes and the service providers involved are not subject to the jurisdiction of that State. Similarly, when ships sink and cause pollution, the whole shipping industry suffers by association, and the additional complexities involved in responding to a casualty that cannot make use of established service providers could make a bad situation much worse.

Carbon capture and storage (CCS) can contribute to decarbonisation of the maritime industry, especially when combined with other approaches. CCS allows ships to continue using fossil fuels while capturing and storing the emitted CO2. It’s a helpful interim approach if a vessel’s immediate transition to alternative fuels is not feasible due to infrastructure limits or technology constraints. CCS can extend a vessel’s operational lifespan, both reducing emissions from existing vessels while avoiding premature scrapping and associated environmental impacts. Technology challenges  There are technology challenges, such as higher fuel consumption and process costs for ships As the industry works toward the use of zero-emission fuels such as green hydrogen, ammonia and methanol, CCS offers a more gradual and realistic pathway to decarbonisation. CCS is also an attractive option for long-haul shipping routes where alternative fuel infrastructure may be limited. However, there are technology challenges, such as higher fuel consumption and operation costs for ships. Space constraints are another obstacle considering the needs to operate and install CCS equipment on board ships. Clear and supportive regulation More work is needed to provide secure and reliable long-term storage of captured CO2, which is still under development. Technology advancement and government incentives are also needed to increase the economic viability of Carbon Capture and Storage for ships operators. Clear and supportive regulation paves the way for widespread adoption of CCS in the maritime sector, including standards for capture, transport, and storage.  Carbon capture and storage The amine solution, now loaded with CO2, is then sent to a regenerator (stripper) In a CCS system, carbon dioxide (CO2) is captured from a ship’s exhaust gases after the fuel has been burned. This often involves chemical absorption, in which the exhaust gases pass through a solvent that absorbs the CO2. A contactor (absorber) uses an amine solution to react chemically with the CO2, forming a carbamate compound. This effectively removes the CO2 from the flue gas. The amine solution, now loaded with CO2, is then sent to a regenerator (stripper). Heat is applied to the solution, causing the carbamate to decompose, releasing the captured CO2. Onshore storage sites The CO2 is then separated and stored onboard in high-pressure tanks as a liquid, and later offloaded at designated ports for transport to onshore storage sites.  There is an energy penalty in the process, since CCS itself requires energy, which can increase fuel consumption and operating costs for the ship. Because onboard storage capacity for captured CO2 can be limited, frequent offloading is required. Adoption timeline for CCS Most CCS projects in the maritime sector are still in the research and development phase In the near term (5 to 10 years), initial deployments of CCS on select vessels will likely focus on niche applications or specific routes. Most CCS projects in the maritime sector are still in the research and development phase. Some pilot projects and demonstrations are underway to test the feasibility and effectiveness of CCS technologies, but large-scale commercial deployments of CCS systems on board ships are still to come. If technological advancements and economic viability improve, CCS could see more widespread adoption in the maritime sector within the next 10 to 20 years, particularly for vessels where alternative fuel options are limited or not yet feasible. The development of a robust infrastructure for the transport and storage of captured CO2 will be crucial for the large-scale deployment of CCS in the maritime. Requirements of CCS systems for maritime use Looking long-term (20 years or more), CCS could become a mature technology integrated into the broader maritime decarbonisation landscape, potentially playing a role alongside other technologies like alternative fuels and energy efficiency measures. Continued research and development will aim to improve the efficiency, cost-effectiveness, and space requirements of CCS systems for maritime use. The development of more efficient and compact CCS systems is crucial for their widespread adoption in the maritime sector. Reducing the costs, including capital expenditures and operational expenses, is also essential. Clear and supportive regulations, including carbon pricing mechanisms and incentives for CCS deployment, will encourage its adoption. Complementary technologies toward decarbonisation Another option is using fuel cells to convert hydrogen or other fuels into electricity for propulsion CCS can be used in conjunction with transitional fuels like Liquefied Natural Gas (LNG), capturing and storing CO2 emissions from LNG-powered vessels to reduce the carbon footprint while the industry transitions to zero-emission fuels. CCS can be particularly valuable for sectors where zero-emission alternatives may not be readily available or feasible, such as long-haul shipping. CCS can also serve as a backstop technology, providing a potential solution for residual emissions from alternative fuel pathways, even if they are considered low-carbon. A range of alternative fuel scenarios drive research and development into new technologies such as biofuels, green hydrogen, ammonia, and methanol. Another possibility is using fuel cells to convert hydrogen or other fuels into electricity for propulsion. Better battery technology, including better capacity and charging infrastructure, is needed. And ship designs must be optimised for alternative fuels, including storage and handling systems. Next stages for CCS The next stage in the development of carbon capture and storage (CCS) for maritime vessels will likely involve full-scale demonstration projects, moving beyond small-scale prototypes and lab tests to real-world applications on commercial vessels. More compact and lightweight systems will be developed to reduce the weight and space requirements on board ships. Viable business models and financial mechanisms are needed to make CCS economically attractive for ship owners. A clear and consistent regulatory framework can incentivise CCS adoption and ensure compliance with environmental standards. There also needs to be more public awareness and understanding of the role of CCS in decarbonising the maritime sector.

Bennett Marine, a Division of Yamaha Marine Systems Company, needed a solution that integrated solar energy generation and mechanical upgrades to optimise both sustainability and working environment outcomes. However, adding the cooling capacity needed by a large warehouse, and the employees working there, during the long Floridian summers could significantly increase the utility load on the building. Solution Bennett Marine’s management approached its outsourced service provider, ABM. Having successfully completed two lighting upgrades on site, and acting as the current janitorial service provider, ABM took Bennet Marine’s request to its Infrastructure Solutions team. ABM’s Infrastructure Solutions designed an energy-efficient HVAC system supported by a rooftop solar PV array that offset utility costs with renewable energy, leading to a net 58% reduction in total utility usage for the building. ABM also assisted in securing tax credits and energy incentives for the project, as well as a new roof for the facility with additional building envelope improvements. Finding a better solution for the client ABM provides a consultative approach to help clients achieve sustainability goals, enable capital improvements" “Service experts across our company worked together to solve a need and deliver the sustainability solution Bennett Marine needed,” said Mark Hawkinson, President of ABM Technical Solutions. He adds, “ABM provides a consultative approach to help clients achieve sustainability goals, enable capital improvements, improve indoor air quality, address waste and inefficiency, and create a positive impact for communities.” In addition to the new roof, net energy offset, and improved cooling, ABM was able to assist the project in receiving an estimated $226,000 in tax credits and $224,000 in Energy Incentives through the Federal MACRS (Modified Accelerated Cost Recovery System). Benefits ABM’s Infrastructure Solutions enable businesses to invest in critical infrastructure needs and achieve sustainability, security, and resilience goals. A custom energy program drives costs out of operating budgets and redirects savings to critical needs, helping fund improvements. Highlights of the project for the Deerfield, Florida, warehouse include: Projected energy cost savings in the first year of $12,701 Replacement of ageing roof and speed roll doors to reduce energy loss Solar panel installation is capable of offsetting 66% of the building’s utility use

At Scheveningen Harbour in the coastal city of The Hague in the Netherlands, an AI-based video security system from Bosch Building Technologies is now ensuring that every single ship or boat entering or leaving the harbour is logged. The customised solution developed by Bosch together with its partner BrainCreators automatically registers and classifies shipping traffic. Intelligent security solution Until now, employees at the port control centre had to keep an eye on shipping traffic around the clock from the window of the control centre and manually record the 80 or so vessels that pass through the port every day. The city council of The Hague to quickly find a tailor-made solution for the port of Scheveningen  The reason for the investment in the intelligent security solution was the fear that criminals would seek alternative routes via smaller ports such as Scheveningen, now that large Dutch or Belgian ports such as Rotterdam and Antwerp have been more secure against smuggled goods for some time. This was reason enough for the city council of The Hague to quickly find a tailor-made solution for the port of Scheveningen. Challenging task in Scheveningen Special conditions require individual solutions Most boats and ships entering the port of Scheveningen are not required to register and, unlike purely commercial ports such as Rotterdam, the port cannot simply be closed off. In addition to cargo ships, there are also fishing boats and private sailing yachts at anchor, with small dinghies and rowing boats cruising between them. Keeping track of the movement of goods in particular is therefore a challenging task in Scheveningen, where the video security system with intelligent video analysis installed by Bosch provides welcome support. Author's quote The requirements for this project were very specific because the shipping traffic not only had to be filmed" "The requirements for this project were very specific because the shipping traffic not only had to be filmed, but also registered and classified. The solution also had to provide information about the speed of travel," says Niels van Doorn, Senior Manager Solutions & Portfolio at Bosch Building Technologies in the Netherlands. "Standard software can't do that. Together with our partner, we have therefore developed an AI that can identify and classify ships of all kinds–from passenger ships and freighters to sailing yachts and inflatable boats." This data aids in identifying suspicious shipping movements. Flexidome IP starlight 8000i cameras No sooner said than done – and in the shortest possible time Development, planning and implementation only took around 12 months. Two intelligent video cameras at the mouth of the harbour now record the traffic. The specially developed AI classifies the ship types and registers them in a file. Due to the difficult lighting conditions in the port, the Flexidome IP starlight 8000i cameras from Bosch were chosen. They deliver detailed images even in challenging weather and lighting conditions and enable the staff in the control centre to see every detail, even in very bright or dark image sections. Ships that are not seen in real-time by the personnel on duty appear as still images on the screen All boat identifiers are recorded, documented, stored and automatically provided with additional information on date and time, direction of travel and speed around the clock using AI. The streams from the cameras are fed directly into a video management system. Ships that are not seen in real-time by the personnel on duty appear as still images on the screen. By analysing all the data, peak times, ship types, trends and deviations from the norm are determined. New video documentation "The dashboard gives staff an overview of all activities in the port. The software protects the privacy of the people recorded by making their faces unrecognisable. The new video documentation now provides solid evidence and helps to identify suspicious and unusual situations more quickly and effectively," says Ferry Ditewig, Business Development Manager at Bosch Building Technologies in the Netherlands. The video solution is also well equipped for future challenges and can be flexibly expanded as required: for example, additional information from external sources could be integrated, such as meteorological data, tides or the automatic identification system (AIS) for exchanging ship data.

Internacional Marítima is a Brazilian company leader in marine and port support services, with over 35 years in the market and for over five years using WEG paints in its fleet. The vessel - BLG 2, originally destined to launch jack-ups of up to 8000 tonnes and reclassified to support work in ocean navigation, will be receiving a new paint job for restoration and protection in a 9,000 m² area of side, bottom and deck. WEG supplies paint for the vessel - BLG 2 WEG is supplying more than 11,000 litres of paint for painting the ship WEG is supplying more than 11,000 litres of paint for painting the ship. These are high performance paints, which offer resistance and durability. Among the products supplied to Internacional Marítima, WEG have Shop primer from WEGZINC 401 line, the epoxy finishing primer WEGPOXI WET SURFACE 89 PW, paints from WEG TIE COAT line, and the anti-fouling paint W-ECOLOFLEX SPC 200. All of WEG's products are ideal solutions for marine applications. WEG and Internacional Marítima partnership “WEG already has a long partnership with Internacional Marítima and the group’s shipyards were one of the determining factors for choosing WEG paints for this major project,” said Richard Ferraz - Unit Manager INC (Catarinense Naval Industry) of Navegantes, Santa Catarina - Brazil.

Achieving optimal return on investment (ROI) for a maritime company involves a strategic combination of operational efficiency, revenue enhancement, cost control, careful financial management, attention to sustainability and regulatory compliance, and other factors. Given all the variables in play, profitability can be elusive, but our Expert Panel Roundtable has some ideas. We asked: How can maritime companies maximise return on investment (ROI)?