In a significant development for China’s shipbuilding industry, the China State Shipbuilding Corporation (CSSC) and French liner heavyweight CMA CGM have inked an agreement to construct 16 large container ships worth more than 21 billion Yuan ($3.06 billion). The order comprises of twelve 15,000 TEU
In a pressing need to reduce global greenhouse gas emissions (GHG), the shipping sector and offshore vessel services providers are certainly the protagonists in the whole decarbonization story. However, although we are seeing an increasing number of initiatives, we still have a long way to go.
ClassNK certification society has given an A rating to the LNG dual-fueled chemical tanker Fairchem Pioneer jointly developed by Fukuoka Shipbuilding and Fairfield Japan. The tanker is currently under construction at Fukuoka Shipbuilding, and is going to be chartered to FJL. The vessel was evaluated
A 93,000 cbm LPG carrier with dual fuel LPG propulsion, being built by China’s Jiangnan Shipyard, for Petredec Holdings (Eastern) PTE, has returned from sea trials. The vessel, named Harzand, is the first of a total of six 93,000 cbm LPG vessels Petredec has on order at the yard. The shipbuilder sai
International owners and operators of liquefied natural gas (LNG) carriers GasLog and GasLog Partners have entered into a definitive merger agreement. Following the offer announced in January 2023, the parties now signed the agreement pursuant to which GasLog will acquire all of the outstanding comm
Dutch shipbuilder Damen Shipyards Group posted a revenue of €2.5 billion for 2022 for the first time in the company’s history. The shipbuilder said that the achievement was made despite the effects of the war in Ukraine, which had, and continues to have, a significant impact on business operations.
Inter Terminals Sweden (ITS), part of Inter Terminals, one of the largest independent bulk liquid storage providers in northern Europe, is collaborating with the Port of Gothenburg to introduce methanol bunkering services in the port by the end of 2023. ITS revealed that preparations are ongoing to
A very large crude carrier the Nautica, bought last month by the UN Development Programme (UNDP) from Euronav, as part of UNDP’s coordinated operation to remove oil from decaying FSO Safer, has set sail from Zhoushan, China heading for the Red Sea. The Nautica was in drydock in Zhoushan, China for r
Norwegian chemical tanker company Stolt Tankers, a subsidiary of Stolt-Nielsen, has signed a two-year agreement with Canada-based Graphite Innovations & Technology (GIT). Under the deal Stol Tankers will apply GIT’s XGIT-PROP graphene-based marine coating to the propellers of 25 ships during 2023. G
In a significant step towards sustainable and decarbonized shipping, China has launched its first-ever hydrogen fuel cell-powered boat. The vessel named ‘Three Gorges Hydrogen Boat No. 1’ was launched on March 17, in Guangdong, China. The vessel was built by Jianglong Shipbuilding Co. Ltd. for Yangt
Northern Lights, a joint venture (JV) of energy majors Shell, Equinor and TotalEnergies developing an open and flexible infrastructure to safely store CO2 from industries across Europe, is making progress with the installation of the first temporary CO2 storage tank. This milestone was announced on
The global maritime industry faces unprecedented challenges due to rapidly changing market conditions and technological advancements driven considerably by the ever-stricter environmental regulations. The current model of maritime transport operations, which relies heavily on traditional practices,
Motion Ventures, a Singapore-based maritime venture investment fund, has welcomed 10 maritime corporations to its corporate consortium. The latest corporate investors joining the fund are Lloyd’s Register, Marine Traffic, Meratus Group, Stolt-Nielsen Limited, ShipsFocus, Jurni Capital, TaiShip, Pang
Canada’s Hamilton-Oshawa Port Authority (HOPA), an integrated port network, has signed a memorandum of understanding (MoU) with Atura Power, a subsidiary of Ontario Power Generation (OPG), to acquire green hydrogen. HOPA, the largest Port on the Great Lakes operating multi-modal transportation facil
