India maritime industry review

The London P&I Club has announced its financial results for 2024/25, reporting an operating surplus of US$21.3m, while also strengthening its free reserves to US$171.2m. Gross earned premium income increased 12% to reach US$159.8m. The Club’s combined ratio for the period was 101.7%, which contributed to an improved three-year weighted average combined ratio of 103.9%. Meanwhile, the investment return on assets under management and cash was 6.3%, contributing US$24.7m to the operating...

KR (Korean Register) has officially launched a joint working group to establish international standards for the safe discharge of toxic ammonia effluent generated from ammonia-fueled ships. The initiative brings together Korean major shipbuilders—HD Hyundai Heavy Industries (HD HHI), HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai Samho, Samsung Heavy Industries (SHI), and Hanwha Ocean—as well as the Korea Testing & Research Institute (KTR), a national ce...

Fincantieri, a pioneer in complex shipbuilding, presented a series of papers focused on research and innovation activities in the maritime sector at the 21st edition of NAV, the International Conference on Ship and Maritime Research, held in Messina. These studies highlighted the company's role as a pioneer in the industrialisation of new digital solutions for the shipping industry, which, in addition to improving the efficiency, safety, and sustainability of its operations and produc...

As part of the Ammonia Energy APAC Conference 2025, Classification society DNV has awarded an Approval in Principle (AiP) to SeaTech Solutions International (SeaTech) in collaboration with Oceania Marine Energy (Oceania) for the design of a new 10,000cbm ammonia bunkering vessel. This AiP builds on a recent Memorandum of Understanding (MoU) between DNV, SeaTech, and Oceania, initiated at Singapore Maritime Week and signed in April this year. Port of Dampier The Port of Dampier is emerging as...

Ulstein Group and Larsnes Mek. Verksted are working together to deliver 28 standard vessels for the Norwegian Navy. This marks the beginning of a close collaboration between two of Norway's most experienced and modern shipyards, aiming to deliver the future naval vessels. Joint response and close dialogue Ulstein and Larsnes submitted a joint response and have since had several meetings with NDMA Earlier this year, the Norwegian Defence Materiel Agency (NDMA) conducted a market survey to ass...

ABB and StarDream Cruises strengthen their longstanding collaboration with a new service agreement covering two of the cruise line’s luxury ships – reinforcing a partnership that has helped the evolution of cruise travel in Asia. The five-year agreement covers maintenance and lifecycle support for the cruise ships - Star Navigator and Genting Dream, measuring 269 and 335 metres, respectively. During this period, Star Navigator will undergo two, and Genting Dream one, drydocking proj...

ABS and HD Hyundai Samho signed a memorandum of understanding for the technical collaboration for an artificial intelligence (AI)-based smart shipyard. The agreement establishes a cooperative framework for both organisations to leverage smart technologies, such as AI, automation and robotics to identify opportunities for process improvement at HD Hyundai Samho shipyard. ABS will utilise its established Guide for Smart Technologies for Shipyards in the review process. Transforming shipyard...

ABS issued approval in principle (AIP) to HD Hyundai Heavy Industries (HHI) and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a concept of a floating small modular reactor (SMR)-powered power module. The design is intended to generate electricity offshore and near shore, supporting port facilities and onshore communities. ABS completed design reviews based on the ABS Requirements for Nuclear Power Systems for Marine and Offshore Applications. Advanced nuclear technology...

KR (Korean Register) signed a memorandum of understanding (MOU) with HD Hyundai Samho on June 11 to jointly develop AI-based solutions for innovation in ship design and analysis. This partnership is a part of a broader digital transformation strategy aimed at enhancing design productivity and strengthening the capabilities of ship design engineers in the rapidly evolving shipbuilding landscape. The collaboration focuses on leveraging artificial intelligence to build a more efficient and accurat...

Ballast Water Management Systems (BWMS) prevent the spread of invasive aquatic species, which pose significant ecological, economic, and health threats. The systems treat and purify a ship's ballast water before it is discharged into a new environment. Regulations dictate how ballast water is managed and discharged. The IMO Ballast Water Management Convention was adopted in 2004 and ratified on 8 September 2017. In addition, the U.S. Coast Guard (USCG) has also regulated discharges in the USA t...

Given the diverse stakeholders in the maritime industry, it is understandable that collaboration is a challenge. However, the interconnected ecosystem of maritime makes collaboration essential. From ship owners and operators to port authorities, from shippers to shipbuilders, from classification societies to marine service providers and others, there are vast opportunities to work together and cooperate. To gain insight, we asked our Expert Panel Roundtable: How can the maritime industry increas...

FuelEU Maritime came into effect on Jan. 1, 2025. It is part of the European Union’s Fit for 55 package and applies to commercial vessels of 5000GT (gross tonnage) and over used for the transport of cargo or passengers and calling at EU ports. Vessels are required to achieve a greenhouse gas (GHG) intensity of energy below a particular level. That level reduces over time and by 2050 the reduction target is 80% compared to 2020 reference levels. GHG intensity of energy obligations &ldqu...

Achieving optimal return on investment (ROI) for a maritime company involves a strategic combination of operational efficiency, revenue enhancement, cost control, careful financial management, attention to sustainability and regulatory compliance, and other factors. Given all the variables in play, profitability can be elusive, but our Expert Panel Roundtable has some ideas. We asked: How can maritime companies maximise return on investment (ROI)?

Traditionally, bulk cargo unloading has faced challenges around operational efficiency, safety risks, environmental impacts, and high operational costs. Rough discharges, equipment wear, vibration damage, and limited weather operating windows have all constrained vessel utilisation and performance. Moreover, older unloading systems are energy-intensive and labour-dependent, increasing both costs and environmental footprint. Cargo unloading systems Many bulk cargo unloading systems depend on...

When the Ballast Water Management (BWM) Convention came into force in 2004, it was in response to a crisis we couldn’t afford to ignore—one where invasive aquatic species, carried silently in ships’ ballast tanks, were devastating marine ecosystems. Now, two decades later, compliance with this environmental safeguard is no longer optional—and yet, as recent industry findings reveal, record-keeping failures account for 58% of compliance issues. That’s not a technol...