French shipping major CMA CGM has revealed the names of its new terminals in the United States as the company embarks upon a $600 million upgrade at “Port Liberty New York” and “Port Liberty Bayonne”. The terminals were acquired by CMA CGM from Global Container Terminals (GCT) in December 2022. The
The CEO of Wallem Group John-Kaare Aune is stepping down from his role following a transitional period, culminating in his departure in January 2024. Aune’s journey with Wallem commenced in 2019 when he assumed the role of Managing Director, Shipmanagement. Subsequently, in January 2021, he ascended
The world’s first LNG-fueled Panamax-class coal carrier, named Shoyo, has kick-started commercial operations after being bunkered with its first fuel at the beginning of October. The vessel was built by Japanese shipbuilder Oshima Shipyard for compatriot Nippon Yusen Kabushiki Kaisha (NYK) and Kyush
China’s Hudong-Zhonghua Shipbuilding has delivered the third LNG carrier to CSSC Shipping, the financial leasing entity of China State Shipbuilding Corporation (CSSC), and is on track to set a new record in annual LNG carrier deliveries. The 174,000 cubic meter LNG carrier named Wen Cheng was delive
Dubai-based port operator DP World has raised USD 1.5 billion through a Green Sukuk to support its global decarbonization efforts. Sukuk are Islamic financial instruments representing ownership and profit-sharing in asset-backed, Sharia-compliant investments. DP World said that the Sukuk was oversub
German engine manufacturer MAN Energy Solutions (MAN ES) has formed a partnership with industry leaders and research institutes to develop concepts for hydrogen-fueled medium-speed engines in the maritime sector. The partnership will work on the project dubbed ‘HydroPoLEn’, which is supported and fu
Hong Kong-based dry bulk shipping company Pacific Basin anticipates limited orders for dual-fuel methanol-enabled mid-size dry bulk vessels in 2024. As explained, these vessels are expected to primarily consume conventional fuel oil in the foreseeable future due to the limited availability and high
Belgian tanker major Euronav revealed that it had lifted the option for a second very large crude carrier (VLCC) newbuild. The option was available under a contract Euronav signed in August with CSSC Qingdao Beihai Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC). The constr
The global shipping industry is grappling with the pressing need to transition towards eco-friendly practices, as ambitious demands for decarbonization and impending carbon taxes loom on the horizon. The very large crude carrier (VLCC) sector is in a unique position with a large portion of its fleet
China has witnessed a breakthrough in its application of hydrogen fuel cell technology in inland waterway vessels with the maiden voyage of the country’s first hydrogen-powered ship, the Three Gorgers Hydrogen Boat No. 1. The vessel set sail on its maiden voyage in Yichang City in central China’s Hu
Belgium-based shipping and cleantech company CMB.TECH and Dutch full-service provider of power solutions DBR have partnered up to develop what is said to be the first dual-fuel hydrogen gensets for marine applications, aiming to accelerate the decarbonization of the maritime industry. DBR offers exp
The Methanol Institute (MI), a global trade association for the methanol industry, has welcomed cruise shipping major Royal Caribbean Group as its newest member. Royal Caribbean operates a global fleet of 64 ships and is a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruise
Dutch shipbuilder Damen has won approval in principle for designs of methanol-powered compact vessels from the classification society Bureau Veritas and Dutch and Belgian flag authorities. The company said that it now offers designs for a wide range of methanol-powered workboats. The designs are a r
Hong Kong-based container shipping company Orient Overseas Container Line (OOCL) held the naming ceremony of a 24,188 TEU newbuilding at Dalian COSCO KHI Ship Engineering Co (DACKS) shipyard. This mega containership is named OOCL Gdynia. Following its naming, OOCL will have received half of the twel
