Container shipping major MSC Mediterranean Shipping Company has entered into a settlement agreement with the subrogated insurers of Amplify Energy Corp related to the 2021 Orange County oil spill incident. The oil spill resulted in the discharge of approximately 25,000 gallons of crude oil in Octobe
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 Sustainable Hydrogen Powered Shipping Project (sHYpS), which is centred around the idea of developing a liquid hydrogen (LH2) swappable storage solution for multiple types of vessels, is gaining ground. Launched in the summer of 2022, the sHYpS project gathers 13 partners in six countries with a
In 2021, LNG was the most popular alternative fuel considered by shipowners for use in the (then) next five years; twice as many as those who said they were considering biofuels. That position has now virtually reversed, with biofuels at the same level of response as LNG in 2021 while LNG has fallen
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
Global Energy, an LNG carrier owned by Qatari LNG shipping operator Nakilat, has wrapped up its first commercial ship-to-ship transfer of LNG. In a brief social media update on 10 April, Nakilat said that Global Energy completed the operation with BW Helios, an LNG carrier owned by BW LNG, in Linggi
South Korean shipbuilder Hyundai Samho Shipyard hosted a naming ceremony today for Sonangol Kulumbimbi, a Suezmax tanker built for Sonangol Shipping Holding Limited, part of Angola’s state-controlled oil company Sonangol EP. The vessel is the first of two crude oil tankers Hyundai Samho is building
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
BW Batangas, a floating storage and regasification unit (FSRU) owned by BW LNG, is getting ready to start its deployment with First Gen Corporation’s Batangas LNG import terminal in the Philippines. According to a social media update from BW LNG, a unit of the Singapore-based gas shipping giant BW G
South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME) has secured a construction order for an LNG carrier from an unidentified shipowner from Oceania. The order is worth KRW 339.6 billion ($ 257 million), according to DSME’s stock exchange filing. Under the contract, DSME i
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
