Norwegian shipping company Belships has entered into a deal to acquire a 64,000 dwt Ultramax bulk carrier, currently under construction at a Japanese shipyard. Belships expects to take delivery of the bulker by the end of 2025 or early in 2026. The Norwegian shipowner now has four newbuildings under
Greenheart, a subsidiary of Hayfin Capital Management, has partnered with green tech business Njord and maritime consulting firm Marsoft to work on fuel-saving technologies for retrofits underpinned by carbon credits.
Japanese shipping major Mitsui O.S.K. Lines (MOL) has joined the Methane Abatement in Maritime Innovation Initiative (MAMII) tasked with reducing methane emissions across the maritime industry.
Hamilton-based tanker shipping company Teekay Tankers plans to install Shipshave, a semi-autonomous hull cleaning tool, on four more vessels this year. The installation plans are being revealed on the back of a successful trial period during sea passages to keep a silicone-coated hull free of foulin
South Korea’s flagship carrier HMM announced that it has cut its carbon emissions by half over the past decade. Namely, the shipping major’s data shows that the CO2 emissions generated when transporting 1 TEU of container for 1 km decreased from 68.7g in 2010 to 29.05g in 2021, representing a reduct
Teekay Tankers, one of the world’s leading providers of international seaborne transportation of oil, said it would implement engine power limitation (EPL) on its vessels to meet the Efficiency Existing Ship Index (EEXI) requirements. Namely, the EEXI will require a 20% improvement in vessel design
Japan’s Itochu Corporation has decided to make an equity investment in Purus Marine, a recently formed, environmentally focused maritime vessel and infrastructure company. UK-based Purus Marine owns and manages various environmentally advanced vessels. Its business purpose is to provide vessels that
Elegant Exit Company (EEC), a sustainable ship recycling startup, is on a mission to change the ship recycling industry by converting old ships into green steel. The Drachten-based company was launched in 2020 with plans to own a fleet of end-of-life ships that will be operated until their planned r
The Port of Le Havre has announced the deployment of the ShoreTension mooring reinforcement system on all its terminals after several months of successful testing. The ShoreTension system, developed by KRVE, uses advanced software and sensors to monitor the mooring tension and adjust it in real-time
Veson Nautical, a London-based provider of maritime freight management solutions, has revealed plans to acquire vessel valuation provider VesselsValue. VesselsValue was founded in 2011 and is considered the market standard for daily updated, automated, vessel-specific valuations. VesselsValue is a d
The maritime industry has a better idea of the trade-offs necessary to achieve net zero, although most of the practical work still lies ahead, and regulatory and technology uncertainties remain, a recent survey conducted by the London-based law firm Watson Farley & Williams (WFW) shows. ‘The Sustain
Greek shipowner and operator Euroseas has taken delivery of its M/V Gregos, an eco 2,800 TEU feeder containership newbuilding from Hyundai Mipo Dockyard Co. in South Korea. The vessel is EEDI Phase 3 compliant and equipped with a Tier III engine and other sustainability-linked features including alt
Japanese shipowner Kumiai Senpaku has inked a construction deal with China’s CSSC Chengxi Shipbuilding and CITIC Financial Leasing involving a total of eleven ships. The deal comprises ten 84.500 dwt multiprupose cargo ships and one 17,000 dwt asphalt carrier. CSSC Chengxi Shipbuilding said that the
Japanese energy giant JERA has signed a memorandum of understanding (MoU) with South Korea’s state-owned natural gas importer and transporter Korea Gas Corporation (KOGAS) for cooperation in the LNG business. Pursuant to the MoU which seeks to secure the stability of LNG supplies, JERA and KOGAS agr
