Rising costs - News

ClassNK has verified the methane slip reduction effect of the methane slip reduction system, jointly developed by Hitachi Zosen Corporation, Mitsui O.S.K. Lines, Ltd. (MOL) and Yanmar Power Technology Co., Ltd. (Yanmar PT), and issued a Statement of Fact (SOF). A concept of the methane oxidation catalyst system was designed by Hitachi Zosen and Yanmar PT as part of a project that was adopted by Japan’s New Energy and Industrial Technology Development Organization (NEDO) as 'Development of...

Bia Energy Operating Company announced significant project updates for its low-carbon methanol production facility at the 4,000-acre Port of Caddo-Bossier industrial multimodal facility in northwest Louisiana.  The facility is designed to be able to reduce carbon emissions by over 92% compared to traditional methanol production by capturing CO2 and utilising hydrogen as both fuel and feedstock. The Front-End Engineering Design (FEED) study and major permits are complete for the 74-acre, $1...

ClassNK has granted approval to the basic design drawings of a multi-purpose container carrier developed by Nippon Yusen Kabushiki Kaisha (NYK Line) utilising 3D models. This milestone marks the world's first ocean-going ship to complete the basic design process, including class approval, solely through 3D drawings from the conceptual design to the basic structural design, during the initial stages of ship construction (as researched by NYK Line and ClassNK as of 28 March 2024). Structure des...

MAN Energy Solutions and Svitzer have signed a Memorandum of Understanding (MoU) focused on the development of a methanol-fuelled version of the MAN 175D engine. Designated 175DF-M (Dual Fuel-Methanol), the MoU targets the finalisation of a field-test agreement based on which a dual-fuel engine and plant equipment will be installed on board one of Svitzer’s newbuild tugs. Kasper Karlsen, Chief Operating Officer at Svitzer, said: “At Svitzer, we’ve set ambitious yet realistic,...

Sea Maritime International in Singapore acquired the VSTEP’s latest NAUTIS 3 trainer. VSTEP is proud to see repeat customers and takes it as a testament to its commitment to delivering excellent service.  Seamlessly compatible with the Wartsila DP system, this simulator guarantees top-notch training for maritime professionals within the region and allows the customer to further serve the market. Excellence in maritime training “We eagerly anticipate the partnershi...

AVIKUS, HD Hyundai's autonomous navigation in-house startup, announced its autonomous navigation is proven to reduce fuel use by as much as 15% and is expected to reduce carbon emissions by 10%. This is the first time these fuel savings have been verified. The fuel savings were quantified on a 325,000-ton Very Large Ore Carrier (VLOC) operating several times on a 5,800-mile route from Singapore to Brazil using Avikus’ autonomous HiNAS Control system. The verification of this performance w...

A universal, global carbon tax on shipping is coming, as alternative blue fuels made with carbon capture emerge as a critical step in the energy transition at sea. That was the message from Christopher J. Wiernicki, ABS Chairman and CEO, during an appearance at the CERAWeek energy conference. Intermediate economy “We need to recognise that there is an intermediate step in the energy transition,” he said. “Last year the conversations were focused on going from oil to...

The 18th Asia Pacific Maritime (APM), held from 13 to 15 March 2024, welcomed an unprecedented number of 15,717 attendees in Singapore. This figure surpassed attendance records of previous editions, signifying a positive revitalisation of Asia Pacific's maritime sector and solidifying Singapore's position as a pioneering maritime hub. Held at the Marina Bay Sands, the event showcased an extensive range of 710 exhibitors and featured 150 industry speakers worldwide. This year's theme, 'Future of...

Samskip launches shortsea container service connecting Santander, Tilbury and Rotterdam, delivering the service reliability, security and sustainability advantages of intermodal transport to customers throughout Spain, supported by dedicated local customer support. The new service launches from Rotterdam on Tuesday, April 2nd, offering customers a weekly Spain-Tilbury-Rotterdam shortsea option that remains highly cost-competitive against road-ferry alternatives while providing greater reliabil...

The World Hydrogen Forum is a global expo and conference scheduled to take place from 21-22 May at Dhahran Expo, Dammam, KSA. It is dedicated to the advancements in the hydrogen economy for shaping the future of global energy transition. Taking place in the Kingdom of Saudi Arabia, the World Hydrogen Show aims to accentuate the commercialisation of clean hydrogen across the globe and provide an unparalleled platform for key stakeholders to connect with the entire value chain and engage in high-...

Iridium Communications Inc. a provider of global voice and data satellite communications, announced Cosco Shipping (CSSC), the world's largest fleet of commercial vessels with 1,417 ships, has begun installation of Iridium® Global Maritime Distress and Safety System (GMDSS) terminals. The recent installation of the Lars Thrane LT-3100S terminal on the Cosco Tengfei is a testament to CSSC always prioritising the safety of its crew, ships, and cargo. Maritime transportation plays a pivotal r...

VIKING Life-Saving Equipment A/S delivered outstanding results across its product areas and markets in 2023. In terms of revenue and, in particular, earnings, the company has met the goals set out in its BP25 business plan much earlier than expected. Work on the next business plan, BP28, with new strategic objectives, is well advanced, and is due to be approved later this year.  Net revenue increased for the second consecutive year by almost DKK 400 million to DKK 3.53 billion against DKK...

Deputy Emir His Highness Sheikh Abdullah bin Hamad Al-Thani inaugurated the eighth edition of the Doha International Maritime Defence Exhibition and Conference (DIMDEX) 2024 at the Qatar National Convention Centre. The opening ceremony was attended by His Excellency Dr. Khalid bin Mohamed Al Attiyah, Deputy Prime Minister and Minister of State for Defence Affairs as well as various ministers, ambassadors, heads of delegations, naval commanders, and representatives of exhibiting companies....

The vision and ambitions for this year’s Maritime Week Las Palmas were set out at an official press conference for the event. Speaking at the press conference, Puertos de las Palmas President Beatriz Calzada Ojeda announced that during MWLP a planned fuel spill drill will be carried out in the anchorage area of the port for the first time, while the Deputy Minister of Economy and Internationalisation, Gustavo González de Vega, who is also Vice-President of PROEXCA, highlighted the...

Autonomous vessel experts and artificial intelligence (AI) pioneers behind the first full-size unmanned research vessel to conduct scientific experiments whilst autonomously navigating across the Atlantic Ocean have announced their plans to launch the world’s first fully autonomous uncrewed surface vessel (USV) fleet for long term lease or charter. The owners behind the company, Zero USV, a collaboration between the founders of Marine AI and MSubs, aim to have the first vessels fully test...

March 1st marked the date when Samskip took the next step in its strategic Baltic Sea development by increasing service capacity and adding the port of Klaipeda to its network. The extended service follows the successful establishment of Samskip’s dedicated Baltic Sea shortsea service in November 2023. Since its kick-off, the Samskip Baltic Sea service has provided market-pioneering scheduling reliability supported by unrivaled customer experience. Samskip’s owned truck fleet As p...

Babcock is creating more than 1,000 new jobs at their large-scale, advanced manufacturing and shipbuilding facility in Rosyth to support the delivery of their world-class programmes and development of the workforce’s capabilities. Underpinning their commitment to further develop the skills required to support customers now and in the future, over the next four years, the new job opportunities will benefit both the UK economy and local communities and include 400 apprenticeships, 350 produ...

Ocean Infinity, a world renowned company in robotic and uncrewed vessel technology, has announced its attendance and key speaker slot at the Oceanology International 2024 event, which is taking place at London’s ExCel, from 12 - 14 March, 2024. The biennial event brings together key players in the ocean technology industry, providing a platform for businesses, academics, and government representatives to connect, share insights, and explore the latest innovations shaping the future of the...

Prysmian, the pioneer in the energy transition and digital transformation, launches, in collaboration with Interbrand—a pioneering brand consultancy for nearly 50 years—the group's new brand: a crucial asset that aims to support and amplify Prysmian’s new business strategy. This is a true brand evolution that shapes the Company's direction towards a new era, as part of the strategy “Connect, to Lead,” presented on 5 October 2023 during the Capital Markets Day held...

The crucial importance of the maritime industry to the Liverpool City Region was the focus of a full day tour for the Shadow Maritime Minister, Mike Kane MP, when he visited the area on Thursday 15th February 2024. Hosted by Mersey Maritime, alongside some of its key partners, he was given a detailed update by the regional cluster organisation for the industry in the North West before embarking on a visit to Cammell Laird and the Port of Liverpool in the afternoon. During lunch, Mr Kane also v...

ABB has been selected by the Astilleros y Servicios Navales S.A. (ASENAV) shipyard based in Chile to provide a power and propulsion system for Antarctica21’s newbuild boutique expedition ship Magellan Discoverer. Due for delivery in 2026, the vessel is the first hybrid-electric polar cruise ship featuring Azipod® propulsion to be built in the Americas. Accommodating up to 96 passengers and 67 crew members, the vessel will be operating in the Antarctic Peninsula, South Georgia an...

Tasmania is poised to chart a new course in maritime innovation with the arrival of Ocean Infinity, a global pioneer in marine robotics. Thanks to support from the Government of Tasmania, the Australian island state is on the brink of entering a new era in safer, more environmentally sustainable marine operations.   Ocean Infinity, renowned for its groundbreaking ocean exploration and marine robotics solutions, is set to transform maritime operations across sectors including governmen...

Team Electric Group has earmarked Romania as a focal point for collaboration with domestic and regional shipyards, and as a new source of highly skilled electrical specialists to serve its continuing global expansion. The European turnkey engineering group recently formalised the basis for its activities in Romania by establishing Team Electric (Romania), with head offices in Galati. The new company brings together some well-known marine engineering professionals based in Romania, headed by Man...

Light Structures’ SENSFIB Hull Stress Monitoring System received the ABS SMART(SHM) Tier 3 Product Design Assessment (PDA) certificate. The SENSFIB Tier 3 Smart Structural Health Monitoring system employs an industry-pioneering, fibre optic, sensor-based approach for structural health assessment and prediction, calibrated and verified using high-fidelity data for improved accuracy and reliability. SENSFIB system Vessels fitted with the SENSFIB system will be eligible to receive the ABS...

ABS sets its sights on the vessels that will support the next step in the path of decarbonisation with its latest publication: Requirements for Liquefied Carbon Dioxide Carriers. This is the first publication available in the maritime industry dedicated to the design, construction, and classification of LCO2 carriers where liquefied CO2 is carried as cargo. Part of a decarbonisation strategy As more industries adopt carbon capture, utilisation, and storage (CCUS) technologies a...

The global shipping regulator, the UN International Maritime Organisation, has set a target of net-zero carbon emissions by 2050 for the industry, and now needs to develop climate regulations by 2025 that make it possible to reach that target. A core challenge is how to craft a global greenhouse gas pricing regulation that can bridge the price gap between the cleanest fuels and fossil fuels, driving investments in green fuels, without imposing an outsized cost on the global economy. As member...

Jumbo Offshore has recently been awarded a contract by Yunnneg Wind Power Co., Ltd. (YWPC) for the removal of monopiles at the Yunlin Offshore Wind Farm. The contract award represents an expansion of the company’s existing scope, which has involved transport and installation of the project’s transition pieces. Under the amendment, some monopiles, which were installed during an earlier project phase, are to be removed approximately 3 m below the mean seabed level. To undertake this...

Trade moving through the Port of Long Beach rose in January as retailers stocked up ahead of the Lunar New Year when East Asian factories typically close for up to two weeks.Dockworkers and terminal operators moved 674,015 twenty-foot equivalent units (TEUs) in January 2024, up 17.5% from January 2023. Imports increased 23.5% to 325,339 TEUs and exports were down 18.1% to 86,525 TEUs. Empty containers moved through the Port increased 28% to 262,151 TEUs. Additional warehouse stocking “Re...

DNV, the global assurance and risk management provider, has created one of Europe’s fastest-growing cyber security services businesses by merging DNV’s existing cyber security business with two recently acquired companies–Nixu and Applied Risk. The merger brings together more than 500 cyber security experts to safeguard demanding IT and industrial control system environments across multiple industries. It follows DNV’s acquisition of Amsterdam-based industrial cyber secu...

MacGregor, part of Cargotec, has launched a new and augmented gravity self-unloading system that will allow bulk carriers to deliver a wider variety of cargo, in greater volume. The new system, the ‘MacGregor GravityVibe™,’ deploys a patent-pending vibrating unloader to reduce internal friction and ease the discharge of coarse materials such as wood chips from the cargo hold. While the automated unloading sequence remains a gravity-based operation, the MacGregor GravityVibe&tr...