Rising costs - News

Government agency Innovation Norway provides sustainable hull-cleaning pioneer ECOsubsea with a NOK 69m (USD 6.2m) Green Growth Loan that will part-fund the construction of more of the company's next-generation hull-cleaning robots, as it gears up to significantly expand its operations in the world's second-busiest port. The Austevoll-based company undertook its first commercial clean in Singapore in the autumn, using its first next-generation cleaning robot dubbed the 'Pink Panther'....

The UK is well positioned to lead the safe development and deployment of new nuclear power systems for commercial ships and Floating Nuclear Power Plants (FNPPs), according to a new report from CORE POWER, NorthStandard and Lloyd’s Register (LR). Technology company CORE POWER, global marine insurer NorthStandard and maritime professional services provider LR have jointly published Advanced Maritime Nuclear: A unique opportunity for the UK.  Deployment of small nuclear reactors...

New nuclear reactor technology represents a once-in-a-generation opportunity for U.S. industrial policy. Vessels propelled by advanced small modular reactors (SMR) could act as a catalyst for the revitalisation of U.S. shipbuilding. That is the view of ABS Chairman and CEO Christopher J. Wiernicki, who believes the next step is the development of a marinised SMR demonstrator. New industrial policy “It is a key transformational technology. It changes the commercial model, the economics o...

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...

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...

AAL Shipping, a multiple award-winning project heavy lift cargo operator headquartered in Singapore, has chosen ABB Ability™ OCTOPUS – Marine Advisory System to optimise operations of their advanced fleet of Super B-Class heavy lift vessels. ABB’s technology will help enhance the safety and efficiency of its cargo-carrying operations. Super B-Class vessels AAL has currently four 32,000 deadweight tonnage ships in operation and four due for delivery by 2026. The third-generat...

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...

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...

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...

Marcura unveils a bold new look and new AI capabilities, part of a broader transformation to connect its industry-pioneering solutions and drive greater efficiency for customers. Marcura powers some of the most trusted solutions in maritime, including DA-Desk, ShipServ, MarTrust, ClaimsHub, and PortLog. Collectively, the pioneer in digital maritime solutions handles 200,000 port calls annually, manage over 6 million SOF events, facilitate $21.6 billion in payments and pay 36,000 crew digitally....

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...

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...

Frequentis marks the debut of its LifeX3020 solution in Southeast Asia, improving emergency call handling and response coordination across three major centres and nationwide blue light agencies. This effort supports Malaysia’s Next Generation Emergency Services 999 (NG999) project, an upgrade designed to replace the current Malaysian Emergency Response System (MERS999). The initiative underscores Malaysia’s strong commitment to enhancing public safety across the nation. Responses f...

Watson Farley & Williams advised long-standing client TUI Cruises GmbH on the delivery of the Mein Schiff Relax, the eighth ship in the Mein Schiff series and TUI Cruises’ first to be built at Italy’s Fincantieri shipyard. The Mein Schiff Relax is the first of two InTUItion-class ships being built at Fincantieri for TUI Cruises. The vessel marks a new era for the Mein Schiff experience, setting new standards in terms of comfort, exclusivity and feel-good atmospher...

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...

NorthStandard has announced an exclusive collaboration with pioneering maritime digital decarbonisation experts BetterSea. The new partnership will allow NorthStandard members heavily discounted access to the BetterSea FuelEU Maritime Compliance service, including its in-house digital support resources. GHG intensity of energy New FuelEU Maritime reporting requirements for shipping companies began on January 1 2025 The new FuelEU Maritime reporting requirements for shipping companies began...

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...

Kongsberg Maritime has developed an innovative mooring-capable solution for Offshore Construction Vessels (OSCVs), expanding the capabilities of OSCVs beyond their current scope to include the pre-lay of mooring lines as a natural extension to original suction anchor capabilities. By integrating a purpose-designed anchor handling winch, shark jaws and stern rollers into the design of OSCVs at the newbuild stage, vessel owners can now equip their ships to perform a broader range of mooring opera...

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...

“New nuclear technology is a global decarbonisation solution and a commercial shipping disruptor. There is no net zero by 2050 without nuclear.” That was the view from ABS Chairman and CEO Christopher J. Wiernicki, speaking at the Core Power New Nuclear for Maritime Houston Summit. Operation of vessels “New nuclear is a transformational technology. It disrupts the commercial model, the economics of shipping, as well as the operation of vessels and of course their d...

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...

Next Ocean, a pioneer in Vessel Motion Radar technology, has secured Seed Investment from Arches Capital to drive its expansion and enhance maritime safety worldwide. This funding will accelerate Next Ocean’s growth, enabling the company to scale production, expand into new markets, and further develop its predictive radar technology. Efficient offshore operations Over the past years, Next Ocean has successfully delivered numerous Vessel Motion Radar systems to pioneering companies in...

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...

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...

Global law firm Norton Rose Fulbright, working in conjunction with pioneering Spanish law firm Uría Menéndez, has advised Bibby Marine on a financing package with HSBC UK to support the development of its previously announced zero-emission electric Commissioning Service Operation Vessel for servicing offshore wind farms. The multi-million euro financing made available by HSBC UK is backed by Cesce, the Spanish Export Credit Agency. HSBC acted as sole ECA coordinator, mandated lead...

A new design for an ammonia floating production storage and offloading (FPSO) unit that features onboard carbon capture technology for blue ammonia production has received approval in principle (AIP) from ABS. The design comes from MODEC, Inc. (MODEC), in collaboration with Toyo Engineering Corporation (TOYO). ABS completed design reviews based on class and statutory requirements. Emissions of offshore operations It is produced by combining hydrogen, which is derived as a byproduct of carbon...

The long-term environmental impact of the Sounion vessel disaster, both of the vessel and the Red Sea, were at the forefront of the critical salvage operation, noted Ambipar Response, the emergency response division of Ambipar Group, who led the spill response and pollution prevention effort for the stricken 164,000 dwt tanker (IMO: 9312145) in August 2024. After being struck by multiple missiles from Houthi rebels during a routine transit through the Red Sea, Sounion was left stranded and abla...