Rotor sails lead the way as the preferred solution for shipowners looking to reduce emissions and increase fuel efficiency by tapping into the potential of wind-assisted propulsion on board their ships. According to recent data from the International Windship Association (IWSA), rotor sails have bee
Qatar Gas Transport Company (Nakilat) and its subsidiaries have achieved a consolidated net profit of QAR 1,44 billion ($395.3 million) in the fiscal year 2022, a significant increase of 6.3%, as compared to QAR 1,35 billion ($372 million) in 2021. It also achieved revenues of QAR 4,4 billion ($1.20
Japan-based technology company Eco Marine Power (EMP) has been hired by an unnamed shipping company based in the United Arab Emirates (UAE) to undertake a joint Eco Ship technical study related to renewable energy solutions for ships. EMP said that the study will also include investigating innovativ
China’s shipping heavyweights COSCO Shipping Corporation Limited and COSCO Shipping Development have spearheaded the establishment of the China Electric Ship Innovation Alliance. The founding members represent over 80 companies from various industries including electric-powered propulsion, vessel de
Voyage optimization can reduce emissions by 7.3% and extend CII compliance by up to three years, according to the findings of a study conducted by maritime software and data analysis expert NAPA and classification society ClassNK with Marubeni Corporation. The joint research was carried out using NA
South Korean shipping company HMM has signed newbuilding contracts with compatriot Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC) for nine 9,000 TEU containerships powered by methanol dual-fuel engines. The company confirmed to our newsdesk that it was looking into
Cédric Rosemont, newly appointed CEO of Traxens, explains in an interview how smart containers can help shipping become greener.
The number of wind-installed vessels is set to double in the next twelve months, according to estimates from the International Windship Association (IWSA). At the moment, the wind-assisted cargo capacity is standing at 1.4 million dwt with 22 large ships installed, 2 wind-ready ships, and a further
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has secured a contract to build one liquefied natural gas (LNG) carrier which represents the shipbuilder’s first order in 2023. Under the contract worth 314.5 billion won (around $248 million), DSME will build the LNG carrier f
Belgian tanker shipping major Euronav has proposed to expand the membership of its Supervisory Board and to revise its structure, in line with the recent shifts in the company’s shareholder base. Namely, Famatown and its affiliated companies, controlled by shipping tycoon John Fredriksen, have built
Swiss-based container shipping major MSC Mediterranean Shipping Company has accepted a proposal to jointly fund a settlement with claimants relating to the 2021 Orange County pipeline oil spill. The oil spill resulted in the discharge of approximately 25,000 gallons of crude oil in October 2021 duri
Dry bulk shipping company Golden Ocean Group Limited (GOGL) has entered into an agreement to acquire six 208,000 dwt vessels equipped with exhaust gas cleaning systems (scrubbers) for a total of $291 million. GOGL said that the newly-acquired vessels will be chartered back to their former owner, the
As the world faces new challenges in 2023, offshore energy industries are making new plans to deliver on the net-zero target. In addition to marine energy, the fast-growing offshore wind sector is also finding its place among oil and gas players. Example number one: SSE Renewables and Equinor, the d
Danish container shipping major Maersk is donating around 1,000 shipping containers to Türkiye to help those in need affected by the massive earthquake that hit Syria and Türkiye on February 6. The company said that the move follows close contact with the State Disaster and Emergency Management Auth
