Canadian shipping company Algoma Central Corporation was fined $500,000 after pleading guilty to dumping wastewater into Lake Ontario. The U.S. Department of Justice said that one of the vessels in the company’s fleet, the M/V Algoma Strongfield, was involved in the discharge of unprocessed oily bil
Maersk Tankers has on behalf of Maersk Product Tankers entered into a deal to sell six new Long-Range 2 (LR2) product tankers in an en-bloc transaction. The company said that the transaction was in line with Maersk Product Tankers’ asset strategy of continually adjust the fleet size and composition
U.S.’s small-scale LNG provider Stabilis Solutions has secured a $10 million credit facility to support the company’s working capital requirements.
U-Ming Marine Transport Corporation, Taiwan’s largest publicly listed bulk carrier company, has secured its first sustainability-linked loan worth $45 million. The loan was obtained from E.SUN Commercial Bank and it was preceded by a rigorous due-diligence process that evaluated the company’s financ
South Korean majors Hyundai Heavy Industry (HHI) Group and Korean Register (KR) have signed an MOU laying the groundwork for a strategic partnership to address key environmental challenges facing the industry. Under the MOU, signed on April 12, the two sides plan to exchange technical information an
Norwegian engineering company TECO 2030 ASA and Austrian-based automotive consulting firm AVL List GmbH have joined forces on a feasibility study on the potential of carbon capture and storage in the maritime industry. The study will focus on the vessel capabilities and robustness of the technology.
Since the start of the year, there have been 27 LNG-fuelled vesselsordered, according to a recent market insight from Gibson Shipbrokers. Of these, 14 have been tankers, nine have been container vessels, two general cargo, and PCCs respectively. The vessels will be built through to 2024. Furthermore
South Korean shipbuilding major Korea Shipbuilding & Offshore Engineering (KSOE) has resumed its winning streak having secured orders for three liquefied petroleum gas (LPG) carriers. KSOE’s business arm Hyundai Samho Heavy Industries has won a contract for the construction of two LPG carriers worth
French company AYRO has won an Approval in Principle (AiP) for its Oceanwings 3.6.3 wind-assisted propulsion system for ships from DNV GL. The system is designed to enable ship owners and operators to leverage wind energy to improve the energy balance of individual vessels and fleets, and cut carbon
French LNG containment specialist GTT is contracted to design the tanks for an LNG carrier newbuild.
HydroWing operate a highly experienced and specialised team of offshore engineers from their base at Jubilee Wharf near Falmouth, UK. HydroWing aims to advance through to deployment the innovative tidal energy converter, the ‘HydroWing’, to provide cost-effective, reliable and predictable power to c
Wilhelmsen Ship Management (WSM) has become a member of the Sustainable Shipping Initiative (SSI), an alliance of key organisations that is driven to bring change to a more sustainable maritime industry. Wilhelmsen Ship Management, a Wilhelmsen group company, is one of the world’s largest third-part
Fraunhofer IWES has conducted a boulder detection and geohazard survey of 50 turbine locations and the associated OSS at the Baltic Eagle offshore wind project for Iberdrola. The three-week measurement campaign took place in October and November 2020 using the novel proprietary Manta Ray G1 system d
Faccin Group created a Wind Towers Division within the company. Why? Eng. Andrea Comparin: “Achieving the Paris Climate Agreement goals by 2050 will require a substantial acceleration across sectors and technologies, particularly in onshore and offshore Wind Power generation. This sector will play a
