Rising costs - News

ClassNK has issued an Approval in Principle (AiP) for the design of a floating offshore hydrogen production plant developed by the Japan Offshore Design & Engineering Platform Technology & Engineering Research Association (J-DeEP).The amount of power generated by offshore wind turbines is likely affected by weather conditions, and surplus electricity may be generated when supply exceeds demand on land. Production plant The floating offshore hydrogen production plant developed by J-...

Norwegian Cruise Line Holdings Ltd., a global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, and Huna Totem Corporation, one of the most successful Native village corporations in Alaska, jointly announced the signing of a Memorandum of Agreement to develop berthing and upland facilities in Whittier, Alaska. The privately funded development project will consist of a marine vessel docking facility able to berth vessels from the Comp...

In the presence of the Egyptian Prime Minister, a Memorandum of Understanding (MoU) was signed in a joint bid to further accelerate the supply of green fuels and the global transformation to net-zero shipping. This partnership follows six fuel sourcing partnerships announced earlier this month, and with it, Maersk joins forces with the General Authority for Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (E...

The Maritime Skills Commission (MSC), established by Maritime UK and the Department for Transport in 2020, is launching its Future Ports Workforce Research Report. The report came as a recommendation from the MSC’s Labour Market Intelligence Scoping Report in October 2020. The modern port is a significantly different place from the port of history. It is increasingly shaped by forces such as the globalisation of supply chains, automation, and digitisation. It is also shaped by external...

ArkEdge Space Inc. has completed a new round of financing through SPARX Innovation for Future Corporation and Pavilion Capital PTE as new shareholders, raising JPY 635 million (approx. USD 5.2 million) and joining existing shareholders Incubate Fund and Mitsui Sumitomo Insurance Capital Co. Added to an initial round in January 2022, led by Incubate Fund and including Real Tech Fund and Mitsui Sumitomo Insurance Capital Co., the total amount raised in Series A is JPY 2.3 billion (approx. USD 18....

Rising COVID-19 cases in China, large-scale fuel stock-outs in Sri Lanka, and developments in Europe, among other global supply chain disruptions, have had an increasing impact on shipping volumes in Quarter 1 of 2022 and have exacerbated port congestion across the world. Demand remains incredibly strong, which continues to put increased pressure on the global supply chains, as capacity is still tied up outside ports in the US, Europe and Asia. Despite the disruptions witnessed across various r...

The initiative will bring together start-ups focused on solving climate and business challenges with a range of investors eager to fund the transition to a sustainable ocean economy. The event, which is open to all, takes place in Nor-Shipping’s dedicated Blue Economy Exhibition Hall in Lillestrøm from 10.00 to 15.00. Katapult Ocean has gathered a range of venture capitalists, angel investors, debt providers, corporate backers and established industry names to create an arena where...

Classification Society ClassNK has granted its Innovation Endorsement for Products & Solutions to Marlink’s CyberGuard Threat Detection, the service for detecting cyber security threats and help shipowners protect against attacks on IT and OT networks. In July 2020, to promote the spread and development of innovative technologies, the Society launched Innovation Endorsement as a swift certification service in cooperation with technological front runners to establish appropriate evalua...

Neste Corporation’s Board of Directors has appointed Matti Lehmus (born 1974) as President and CEO as of 1 May 2022. He succeeds Peter Vanacker, who will hold the position until 30 April 2022. Matti Lehmus holds a M. Sc. in chemical engineering and an eMBA. He joined Neste in 1998 and has held several key leadership positions during his career in both the oil products business and renewables. He has been a member of the Neste Executive Committee since 2009 and currently serves as Exe...

The American people are looking for solutions to supply chain congestion resulting from the impacts of COVID-19. Unfortunately, the Ocean Shipping Reform Act of 2022, S.3580, which was marked up by the Senate Commerce Committee, addresses none of the root causes of the U.S. landside congestion. Americans continue to import goods at record levels—so much so that the U.S. ports and landside logistics workforce is unable to process all the cargo. Ocean carriers have deployed every vessel and...

The 12 talks take place in the Blue Economy Hall at Nor-Shipping’s Lillestrøm exhibition facilities, with hour-long sessions focusing on future strategies, solutions, and building partnerships capable of delivering sustainable ocean success. Nor-Shipping Director Sidsel Norvik says the programme offers ‘an unmissable opportunity’ to see ‘an industry A-list debating how to transform ocean ambition into reality.’ Nor-Shipping 2022 runs in Oslo and Lillestr&osl...

Clarksons Port Services (CPS) is advising businesses not to panic if they have outstanding supplementary declarations following the 175 day cut-off and they can still be completed. Supplementary declarations must be made after a business has completed an entry in its records or a simplified frontier declaration. However, if a business is bringing uncontrolled goods into Great Britain, it may be able to declare the goods by entering them in its records without getting authorisation in advance an...

Speaker of the House of Representatives, Honourable Femi Gbajabiamila Tuesday announces that the 9th Assembly embarked on the Amendment of the NIMASA Act 2007 and the Cabotage Act 2003 due to the need to improve the regulatory instruments in the Nigerian maritime sector to meet the need of current realities. Honourable Gbajabiamila stated this while declaring open the two-day public hearing by the House Committee on Maritime Safety Education and Administration on the Merchant Shipping Act, Repe...

Local New Zealand businesses are set to reap the benefits of a partnership between Babcock and the New Zealand Defence Force (NZDF) which will conduct maintenance and upgrade works on two decommissioned Royal New Zealand Navy (RNZN) Inshore Patrol Vessels before they are sold to the Republic of Ireland. Babcock and NZDF will regenerate and modify the ships – ex HMNZS Rotoiti and HMNZS Pukaki – to operational seaworthiness standards, supported by Babcock’s extensive supply chai...

ZIM Integrated Shipping Services Ltd. announces the launch of ZIM Ecommerce Baltimore Express (ZXB), a new and speedy e-commerce service, in March 2022. ZXB will operate on the following route: Yantian – Cai Mep - Baltimore – New York – Boston – Yantian. The service will commence with a bi-weekly frequency and build up to weekly within a few months. The exact schedule and vessels lineup will be published in the coming days. Customer service offering ZXB will be operate...

MetOcean is pleased to announce they will be exhibiting at Seafood Expo 2022 in Boston, Massachusetts, USA, from March 13-15, 2022. Serving as North America’s largest seafood trade exposition, Seafood Expo is the one-stop shop for everything seafood in this integral market. They are looking forward to connecting with partners and attendees in the industry and showcasing the latest MetOcean systems and Iridium products. Seafood Expo Seafood Expo North America and Seafood Processing North...

DNV has supported Hapag-Lloyd in obtaining financing for six of its highly efficient containership newbuildings according to the Green Loan Principles of the Loan Market Association (LMA). DNV has verified that the transactions fulfil the requirements of the programme. Sustainable fleets The decarbonisation of the world economy is the grand challenge of the coming decades. Shipping is no exception and pressure is escalating from regulators, financiers, customers, and the general public for shi...

MetOcean Telematics is pleased to announce they will be exhibiting at International Wireless Communications Expo (IWCE) in Las Vegas, Nevada from March 23-24, 2022. IWCE is the annual event for critical communications technology professionals around the world to gather and evaluate, learn and network with industry pioneers. They are looking forward to connecting with clients and attendees at the show, and showcasing MetOcean’s latest satellite communications technology. Visit the team at...

The International Labour Organisation (ILO), International Maritime Organization (IMO), United Nations Conference on Trade and Development (UNCTAD) and the World Health Organization (WHO) have issued a joint statement asking stakeholders to take action to support the world’s 1.9 million seafarers from being unduly impacted by the ongoing COVID-19 pandemic and associated restrictions. The statement comes in the wake of the Omicron COVID-19 variant of concern (VOC), which has, once again, c...

In response to President Biden’s planned attack on ocean carriers during Tuesday’s State of the Union Address, the World Shipping Council released the following statement: “It is unfortunate that the President is demonizing ocean carriers, the industry that is the backbone of the U.S. and global economy and that has been working around the clock through the pandemic to move more cargo than at any time in history.” Container shipping industry “Allegations that the...

Maritime UK, the umbrella body for the maritime sector, is launching the first national Pride in Maritime Day. Pride in Maritime Day is an initiative driven by the Pride in Maritime Network, a network established within Maritime UK’s Diversity in Maritime programme. Its remit has been to identify barriers faced by the LGBT+ maritime community, to educate and enable colleagues to empower and support them, and to share good practice policies and toolkits that support the LGBT+ colleagues ac...

In response to President Biden’s planned attack on ocean carriers during the State of the Union Address, the World Shipping Council released the following statement: Unfortunately, the President is demonising ocean carriers, the industry that is the backbone of the U.S. and global economy and that has been working around the clock through the pandemic to move more cargo than at any time in history. Correcting the allegations  Allegations that the container shipping ind...

Blue Water is pleased to announce the acquisition of Guyana-owned and operated Falcon Logistics Inc. and its proceedings as of February 16, 2022. "The acquisition of Falcon Logistics is a very exciting event in the world of Blue Water. It is yet another substantial commitment in the Caribbean region, and we are pleased to welcome more than 40 new colleagues in Guyana to the Blue Water family," says Thomas Bek, COO, Energy, Port & Projects, Blue Water. Maintaining full compliance In recent...

A Nigerian flagged Motor Vessel, MV VIGEO ADEBOLA which was reported to be distressed midstream Federal Ocean Terminal ONNE due to operational error has been moved to a better location clear away from the FOT Onne Channel. MV Vigeo Adebola had a port list on 10th February, 2022 due to the fact that it received potable freshwater from a barge and it received all in the port freshwater tank. Negative metacentric height The vessel owners were able to correct the list on the 13th February, 2022 b...

For years, Blue Water has been active within Oil & Energy and Renewables projects in the southern hemisphere. Due to the growing demands for transport and logistics services to projects of the Oil & Gas, Wind, Renewables, Infrastructure, Mining and Hydrogen industries in Australia, Blue Water has expanded its presence by establishing offices in Brisbane, Melbourne and Perth in 2021. The company established its first Australian office in Sydney in 2012. Transport and logistics solution...

As the countdown begins for the seventh edition of the Doha International Maritime Defence Exhibition and Conference (DIMDEX), the Organising Committee provided an update on the preparations and an overview of the event, at a diplomat briefing session, at Sharq Village and Spa, on February 21, 2022. One of the most awaited events on the international maritime defence and security calendar, DIMDEX 2022 is shaping up to be the biggest and most diverse edition ever, with more than 200 companies fr...

St. Petersburg, fully operational as of this week, the new AE66 service links Korea, Japan, and China to the Kaliningrad Region in Russia, the Baltic countries, and Poland through Trans-Siberian. The new Sea-Rail-Sea service runs west-bound fortnightly departing from the seaport of Vostochniy in Russia Far East (at the Pacific to Kaliningrad on the Baltic sea, with robust outlooks for further expansion. Current logistics woes Transit times of the new regular service are significantly reduced...

Following the bidding process, CMA Terminals, a fully-owned subsidiary of the CMA CGM Group, a provider of shipping and logistics, has been chosen to manage, operate and maintain the Port of Beirut’s container terminal for a 10-year period starting in March 2022. The CMA CGM Group, which already has a strong presence in Lebanon, currently accounts for almost 55% of the container terminal’s volumes, since it has maintained its nine weekly calls and transshipment operations there. Co...

Pacific International Lines (PIL) is pleased to introduce a new weekly express service connecting China and Australia. The new service, known as Sino Australia Express (SAE), will commence on 10 March 2022 from Qingdao. SAE aims to augment PIL’s existing services connecting China with Australia and is served by a consortium of six vessels with an average capacity of 3900 TEUs, jointly deployed by PIL, T.S. Lines, Yang Ming and Sea Lead Shipping. Meeting the demands of customers Mr. To...

Babcock International Group PLC (“Babcock” or “the Group”) announced that it has entered into a Sales and Purchase Agreement to acquire the remaining 50% interest in its Australian Naval Ship Management (NSM) joint venture from its long-term joint venture partner in Australia, for a consideration of AUD60 million (approximately £32 million). The acquisition is subject to customary approvals. The NSM joint venture was established in 2012 to maintain the Royal Aust...