Bermuda-based bulk carrier company Himalaya Shipping has entered into a time charter agreement with an undisclosed ‘major’ Japanese counterpart for one vessel under construction at New Times Shipbuilding in China. Under the agreement, the vessel will commence a two-year time charter upon delivery fr
In the final round of talks over the weekend, the EU Council and the European Parliament hammered out a provisional political agreement on legislative proposals of the ‘Fit for 55’ package that aim to further reduce emissions and address their social impacts. The ‘Fit for 55’ package is aimed at ena
Norway’s cleantech company TECO 2030 has received its first future funnel purchase order, valued at NOK 5.5 million (€0.5 million), from an undisclosed European shipowner. The estimated delivery of the future funnel, TECO 2030 Model 8, is at the end of Q1, the beginning of Q2 2023, and TECO 2030’s t
The IMO failed to adopt a concrete shipping decarbonisation target for shipping this week following the Marine Environment Protection Committee (MEPC 79) meeting that ended earlier today. The support from the member countries for eliminating the industry’s emissions by 2050 and for setting interim t
South Korean shipping major HMM is preparing an order for new containerships powered by alternative fuels as part of its future growth strategy. The strategy was announced in July this year with HMM assigning $11.3 billion for future investments, including expansion of its eco-friendly ships from th
Car carrier newbuild ordering has increased significantly in 2021 and 2022 on record markets and the resumption of owners’ fleet renewal programmes, including efforts to support manufacturers to become ‘green through the supply chain’. The market recovery is primarily driven by post-covid car trade
Italian shipbuilder Fincantieri has laid out its strategy for the upcoming period putting a major focus on building up its competencies in the construction of digital and net zero ships. The company’s 2023-2027 Business Plan aims to create greater synergies between the company’s cruise, defense, and
American Bureau of Shipping has released a set of requirements to guide the industry in the application of carbon capture technology at sea. The rules have been developed working with shipyards, ship owners, and operators, and they focus on wet scrubbing post-combustion technologies. “Carbon capture
Seasurfer, an LPG carrier managed by Athens-based Thenamaris LNG, has arrived at the Port of Ulsan, South Korea with the shipment of what has been described as the ‘world’s first certified blue ammonia cargo’. The midsize gas carrier, built by Hyundai Mipo in 2017, loaded the cargo at King Fahad Ind
German shipbuilder Meyer Werft has handed over the LNG-fuelled cruise ship Arvia to the British shipping company P&O Cruises. Arvia is a sister ship of the Iona, built-in 2020. Both vessels have been described as ‘future proof’ as they will be able to run on carbon-neutral liquefied natural gas (eLN
Belgium-based tanker shipping giant Euronav informed earlier today that it has received a letter from its biggest shareholder Compagnie Maritime Belge (CMB) seeking termination of the company’s tie-up with Frontline. The letter was addressed to Euronav’s Supervisory Board, following the publication
Out of the 28 financial institutions reporting their emissions data in the third edition of the Poseidon Principles Annual Disclosure Report 2022, seven banks are aligned with the IMO’s ambition of halving shipping’s GHG emissions by 2050. The Poseidon Principles are a global framework for assessing
Proman Stena Bulk, the joint venture between tanker company Stena Bulk and methanol producer Proman, has taken delivery of its fourth methanol-fuelled tanker, Stena Prosperous. The 49,990 DWT vessel was built by Guangzhou Shipyard International Co Ltd (GSI) and will now enter commercial operation ru
The construction of the next-generation diesel-electric propulsed cargo vessel, developed by Maritime engineering company Conoship International Projects, has kicked off in Turkey. The ceremonial start of the 3600 tdw vessel’s first construction took place on 24 November at the Gelibolu Shipyard in
