Uncertainty and volatility continue to cast a shadow over the oil and tanker market as December 5 deadline for the oil price cap for Russian oil expires. Today, all eyes are set on Russia to see what vessels will be loaded and where they would head as Moscow defines its steps in response to the [&he
Japanese shipping major Kawasaki Kisen Kaisha Ltd (K Line) has laid out its short-term investment plans in a newly released report, earmarking a significant portion for environmental initiatives. “First of all, we aim to invest a total of ¥250.0 billion ($1.85 billion), within the amount of operatin
China Merchants Energy Shipping (CMES) has revealed another order for two 175,000 cbm LNG carriers at compatriot shipbuilder Dalian Shipbuilding Industry Company. The company plans to allocate up to $235 million per vessel, pushing the total to $470 million. The shipping heavyweight said that the ve
The 15th Offshore Energy Exhibition & Conference (OEEC) in Amsterdam once again proved to be a great success: as always, the two-day exhibition offered exciting networking opportunities, knowledge sharing, presentations, workshops and a lot more. Energy security, green hydrogen, human capital and fl
The largest ocean-going vessels, which are the largest polluters, can reap the greatest benefits from the new nuclear power technologies, according to Mikal Bøe, CEO of London-based Core Power.
Norwegian tanker shipping heavyweight Frontline is poised to have exhaust gas cleaning systems installed on over half of its fleet of over 70 ships. The company’s owned fleet included 37 scrubber-fitted vessels at the end of the third quarter of 2022, including 15 VLCCs, 19 Suezmax tankers and three
Wind-assisted propulsion provider Anemoi Marine Technologies has extended the lease for their land-based Rotor Sail test facility at the Port of Blyth, the UK. The port, which is a major offshore energy support base, has hosted Anemoi’s test facility for 10 years. The location obtains similar wind c
Swedish ferry company Stena Line has chosen high-tech company Nowhere Networks to fit fast internet connection on board 32 of its ships. Project implementation has already started and it is expected to be completed by the beginning of next year, the ferry operator said. The total distance of the rou
Turkish Cemre Shipyard has launched the construction of a zero-emission double-ended car and passenger ferry that will run on battery-electric power. The construction start was marked with a keel laying ceremony at the yard held on Tuesday, November 29 jointly with Norwegian ferry company Torghatten
A preliminary agreement has been reached between the EU’s top three institutions to include greenhouse gas emissions from the maritime sector in the EU Emissions Trading System (ETS). The tentative deal was struck on Tuesday evening, and it leads to several milestones such as the inclusion of methan
South Korea’s shipbuilder Samsung Heavy Industries has signed a Memorandum of Understanding (MoU) with French software corporation Dassault Systèmes to create a “smart yard” based on new digital transformation technology. The smart yard is designed to optimize the shipyard operations’ scheduling and
Swedish shipping company Terntank is continuing its journey towards fossil-free operation with an order for two plus two new wind assistance and methanol-ready tankers. On 29 November, the company said it placed an order for the 15,000 dwt tankers at China Merchants Jinling Shipyard, Yangzhou. The v
Approximately £75bn ($89.9 bn) of investment over the coming three decades will be required for the UK’s domestic maritime sector to transition to net zero, a report produced by Marine Capital with the support of UMAS and Lloyd’s Register (LR) estimates. Hence, attracting new sources of capital to i
The Belledune Port Authority (BPA) in Canada has teamed up with Cross River Infrastructure Partners, a U.S.-based project development company focusing on climate-positive technologies, to pursue the use of advanced small modular reactor (aSMR) technology. The development proposes to use aSMR from AR
