Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2
Cool Company (CoolCo) has entered into sale and leaseback financing arrangements with Huaxia Financial Leasing for two LNG carriers that are being built by Hyundai Samho Heavy Industries in South Korea. Following the earlier announcement of the purchase of two 2-stroke LNG carrier newbuilds, namely
Mitsui O.S.K Lines, Ltd. (MOL), MOL Drybulk, Ltd., Onomichi Dockyard Co., Ltd., Kawasaki Heavy Industries, Ltd. (Kawasaki) and Japan Engine Corporation (J-ENG) have been granted Approval in Principle (AiP) of parcel layout concept from Nippon Kaiji Kyokai (ClassNK) for hydrogen-powered multi-purpose
In the race to achieve the 5% target for scalable zero-emission fuel (SZEF) goal by 2030, the global shipping industry has made significant progress over the past year, as revealed in a recent report from UMAS, Getting to Zero Coalition, and Race to Zero. The developments are promising, but as the 2
South Korean shipbuilder Hyundai Samho Heavy Industries has started the construction of a 2-stroke LNG carrier for Cool Company (CoolCo). According to CoolCo’s brief social media update, the steel cutting ceremony for the LNG carrier was held on October 10, 2023. The vessel named Kool Panther is one
Greek shipping company Lavinia has placed an order for six bulk carriers to be constructed in China.
Japanese shipping major Mitsui O.S.K. Lines (MOL) has placed an order for a liquefied natural gas (LNG) carrier at Samsung Heavy Industries (SHI).
Dutch shipbuilder Damen Shipyards has signed a contract with Belgian shipping company Fast Lines Belgium for the delivery of two Damen Combi Freighter 3850 (CF 3850).
Texas-based LNG company Excelerate Energy has signed a ten-year contract with Brazilian state-owned oil and gas giant Petrobras to charter the floating storage and regasification unit (FSRU) Sequoia. Under the agreement, which will commence on January 1, 2024, Excelerate will continue to deploy the
Norwegian equipment provider Kongsberg Maritime has delivered a 23% cut in CO2 emissions on the 121-meter passenger vessel, owned by Hurtigruten, a coastal ship operator and adventure travel company.
French LNG containment specialist GTT has received, in the third quarter of 2023, two orders for the tank design of three new liquefied natural gas carriers (LNGCs). The company said the first two LNGCs will be built by the South Korean shipyard HD Hyundai Heavy Industries (HD HHI), on behalf of a E
The maritime industry must build 80 million gross tonnage (gt) of zero-emission ships each year over the 14-year period from 2027 to 2040 to achieve the indicative checkpoints for 2030 and 2040 developed by the International Maritime Organization (IMO) in its 2023 Greenhouse Gas (GHG) Strategy, acco
Finnish rotor sail manufacturer Norsepower has been selected to provide rotor sails for the third LNG-powered, wind-assisted LCO2 carrier recently ordered by Northern Lights, a joint venture between oil majors Equinor, Shell, and TotalEnergies.
China’s Hudong-Zhonghua Shipbuilding has for the first time witnessed a scene of multiple LNG ships being built at the shipyard at the same time as well as two ships undocking at the same time, marking the overall acceleration of the company’s LNG production capacity doubling strategy. Hudong-Zhongh
