Finance

WFW advises MPCC on $94M container ship sale

Watson Farley & Williams (“WFW”) advised shipping company MPC Container Ships ASA (“MPCC”) on its strategic sale of seven container ships for a transaction value of US$94m. The disposal is part of MPCC's strategic development and the targeted restructuring of its fleet. MPCC has agreed to sell five ships en bloc to Contships Group, comprising three 1,300 TEU ships and two 2,000 TEU ships. In addition, two further ships have been sold to Seacon Group. Portf...

Kongsberg Maritime signs MoU with India for polar research vessel at Nor-Shipping 2025

Kongsberg Maritime has signed a Memorandum of Understanding (MoU) with India’s Garden Reach Shipbuilders & Engineers (GRSE) during the Nor-Shipping 2025 event in Oslo, initiating a collaborative effort to explore the design of India’s first indigenous polar research vessel. The agreement marks a significant milestone in India’s ambitions to strengthen its polar research capabilities and scientific presence in the Arctic and Antarctic regions. Kongsberg Maritime signs MoU...

ABS issues approval in principle (AIP) for Hi-ecoGAS and Hi-neoGAS systems

ABS issued approval in principle (AIP) to HD Hyundai Heavy Industries (HD HHI) and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for an innovative new design of a cargo handling system and fuel gas supply system. Hi-ecoGAS and Hi-neoGAS systems Named Hi-ecoGAS and Hi-neoGAS, the systems are designed to handle boil-off gas in dual-fuel engines on gas carriers. The innovative approach has an optimised fuel gas supply system for feeding the fuel gas to the dual-fuel engine, or an LNG...

Korean Register & HHI's new VLEC design partnership at Nor-Shipping 2025

KR (Korean Register) signed a Memorandum of Understanding (MoU) with HD Hyundai Heavy Industries (HD HHI) on June 3 during Nor-Shipping 2025 to jointly develop a very large ethane carrier (VLEC). Ethane carriers are high value-added vessels designed to transport liquefied ethane at ultra-low temperatures of around -100°C. These ships require advanced engineering capabilities and highly specialised design expertise due to the complexity of their cargo. New very large ethane carrier (VLEC)...

Indian Register of Shipping (IRS) launches Korean ferry, expands global footprint

Indian Register of Shipping (IRS) is pleased to announce a significant milestone with the successful launch of an inter-island passenger ferry at Mokpo, South Korea. This vessel marks the first project from a Korean owner to be classed with IRS, representing a landmark moment in the class society’s growing international footprint. The vessel is being constructed by Miraero Shipbuilding, Ltd for Dea Bu Marine Transport Ltd., and is intended for inter-island service along the Korean coast....

Korean Register and Hanwha Ocean sign MoU for LNG carrier development at Nor-Shipping 2025

KR (Korean Register) signed two Memoranda of Understanding (MoUs) with Hanwha Ocean on June 3 during Nor-Shipping 2025 in Oslo. The agreements cover the joint development of a 150K ultra-large ammonia carrier and an LNG carrier featuring a forward deckhouse arrangement. The 150K ammonia carrier project aims to develop an ultra-large vessel capable of transporting substantial volumes of ammonia, while also utilising ammonia as marine fuel. Special emphasis will be placed on safety design, given...

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