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
ADNOC Logistics & Services, a shipping and maritime logistics arm of ADNOC, has acquired two additional Very Large Crude Carriers (VLCC).
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
South Korean shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) continues winning new vessel orders. On 13 April, it unveiled another contract encompassing two liquefied petroleum gas (LPG) carriers.
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
Norwegian shipowner Hagland Shipping has entered into a contract with Dutch shipbuilder Royal Bodewes for the construction of two eco-friendly self-discharging bulk carriers of 5,000 dwt.
Bergen LNG, Norway’s first LNG bunkering ship, has been completed and is now ready for its gas trials. The conversion project was announced back in August 2019 as part of Bergen Tankers’ long-term charter with Gasnor, a part of Royal Dutch Shell. Norwegian shipbuilder Westcon Yards was in charge of
Danish investment fund manager Navigare Capital Partners has taken delivery of its first liquefied natural gas (LNG) carrier, Marvel Swan.
The top six South Korean shipbuilding majors have set sights on achieving carbon neutrality in the sector by 2050, thus joining the global decarbonization push. Namely, representatives of Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, Hyund
German shipbuilder Meyer Werft hosted a keel laying ceremony for Disney Wish, the first of three new ships ordered by the US-based cruise company Disney Cruise Line that will feature environmentally friendly technologies.
A total of 45 ultra large containerships were ordered in March 2021, marking a major turnaround in the container shipping sector, data from BIMCO shows. Adding to this, 27 orders for ‘smaller’ sized ships were placed in the same month, bringing the total order capacity to 866,060 TEU. The ordering s
South Korean ship designer and shipbuilder Samsung Heavy Industries (SHI) has received Approvals in Principle (AiPs) from three classification societies for its wind turbine installation vessel (WTIV) design. SHI’s low carbon emission ECO-WTIV (LNG Fuel + SOFC) model named SLW-FUEL CELL received AiP
Tanker shipping company Stena Bulk has revealed a set of five dated decarbonisation targets as part of its comprehensive roadmap for becoming a net-zero business by 2050. The first of these milestones was achieved in 2020, when Stena Bulk began offering customers low-carbon shipping options with up
