Finance - News

SAFE Boats International is thrilled to announce the addition of Cole Christensen as Business Development Manager – Commercial. Cole Christensen brings a wealth of industry knowledge and experience to SAFE Boats International. In his new role with the Business Development Team, Cole Christensen will focus on all aspects of the commercial sector, growing brand awareness both domestically and globally. Promote the Stormer Workboats line of products He will be integral in advancing efforts...

Mackay Marine (Mackay) stations two full-time technical staff at their Naknek-seasonal shop, from June 1 to June 30 of Alaska’s 6-week Bristol Bay Salmon Season, thereby servicing commercial fishing fleets with spare parts, finished goods and electronics & electrical service. Salmon fishing fleets come from throughout North West America’s coastal communities and operate in-season almost 24/7. Vessels venture onshore only to drop off their catch or if they have trouble with their...

BAE Systems has announced celebrations to mark 15 years of supporting Operations Aintree and Kipion, the British Royal Navy’s mine countermeasure (MCM) strategy, in the Gulf region. The globally renowned defence contractor - BAE Systems, has supported the Royal Navy’s Hunt Class vessels in the Gulf region for the past 15 years – and also delivers maintenance and upkeep to the rest of the Hunt Class flotilla, based out of Portsmouth Naval Base, in the United Kingdom (UK). UK M...

On 10 June 2022, the ESCO terminal at Laem Chabang held a welcome ceremony for the maiden voyage of CUL NANSHA to Thailand. The maiden voyage of CUL NANSHA enjoyed attention from the Provincial Government of Chonburi and the Port Authority of Thailand (PAT). Mr. Phakkhrathon Thianchai (Governor of Chonburi Province), Lt. Kan Menaruji (Deputy Managing Director of Laem Chabang Port, PAT), Mr. Lee Siak Quee (President of ESCO), Mr. Raymond Chen (Chairman & CEO of CULINES), and Mr. Kettivi...

On the occasion of the new SITC Haoyun's newly-built container going to sea, SITC International, Xiamen Port and its customers held the landing ceremony of the ‘distribution-to-collection’ cooperation project at the Haitian Wharf of Xiamen Port on the afternoon of August 26. Xue Mingyuan, President of SITC International Shipping Group, Lai Zhiyong, President of Logistics Group, Meng Xianliang, General Manager of Xiamen Consolidation, Pan Wenliang, General Manager of Logistics Fujian...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed the conceptual design of a Very Large Gas Carrier (VLGC), initially powered by liquefied petroleum gas (LPG), but adaptable to future use of ammonia as the main fuel. Approval in Principle (AIP) for the design has been acquired from the Japanese classification society - ClassNK. Conceptual design of VLGC The conceptual design of an LPG-powered VLGC enabling future conversion to ammonia fuel was...

The Centre for Economics and Business Research (CEBR) has published a new report, commissioned by Maritime UK, highlighting the major impact the industry makes on Britain’s economy. In 2019, maritime contributed £116 billion in total turnover to the UK economy, 35% higher than 2010. For every £1 of turnover generated directly by the sector, a further £1.09 was generated indirectly across the supply chain, underscoring the far-reaching impact of an industry that carries 9...

In an effort to help pharmaceutical and food and beverage manufacturers adhere to increasingly stringent hygiene standards, Alfa Laval has developed PlusClean, the wall mounted cleaning nozzle. A 2020 survey of UK manufacturers, conducted by Harris Interactive, indicated that 79% of respondents now feel more aware of hygiene practices, following the COVID-19 pandemic. However, amid the rise of new COVID-19 variants, manufacturers working in the pharmaceutical and food and beverage sector are un...

Former Amazon consumer chief Dave Clark has a new job: co-CEO, and eventually sole CEO, of the $8 billion-valued supply chain software startup Flexport. Clark, whose resignation surprised observers, finishes up as CEO of Amazon’s massive Worldwide Consumer division last day on July 1, 2022. And on September 1, 2022, he will take over as Flexport’s co-chief executive, alongside Flexport founder Ryan Petersen. Flexport plans for the 49-year-old Clark to become the company’s sole...

The world of logistics has become more and more interlinked, with disruptions, bottlenecks, and conflicts resulting in delays, affecting trade across the globe. Whilst these situations are often outside of the realm of the company’s control, working with a partner that cares about the business goals and can provide integrated end-to-end solutions like Maersk, means a company can infuse more visibility and resilience in their supply chain. Leading the way forwards As a company that is co...

Subsea 7 has announced that Seaway 7 ASA has been selected by Seagreen 1A Limited as a preferred supplier for the Seagreen 1A offshore wind project, located offshore Scotland, in the United Kingdom (UK). Seagreen 1A lies adjacent to the existing Seagreen project that Seaway 7 is currently progressing and represents approximately 500 MW of additional renewable energy generation capacity. Scope of work Seaway 7’s scope of work is under final negotiation and may include the full engineerin...

The latest Indicator shows that the number of seafarers onboard vessels beyond the expiry of their contract has decreased slightly to 4.3% from 4.5% in the last month, while the number of seafarers onboard vessels for over 11 months has remained stable at 0.3%. These numbers remain very close to what has been reported since December 2021, confirming a stabilisation of the situation. Neptune Indicator The Neptune Indicator also reports a 2.8 percentage point increase in seafarer vaccines, from...

The Singapore Trade Data Exchange (SGTraDex), a public-private initiative, was launched on the sidelines of Asia Tech x Singapore (ATxSG) 2022 by the Minister for Communications and Information, and the Minister in charge of Smart Nation and Cybersecurity Mrs Josephine Teo. SGTraDex, a trusted, secure, and easy-to-use digital utility, seeks to connect ecosystem partners in the local and global supply chains via a common data infrastructure. Value-creating benefits More than 70 participants ha...

MetOcean Telematics is pleased to announce that they will be exhibiting at Undersea Defence Technology (UDT) 2022 event in Rotterdam, the Netherlands, from June 7-9, 2022. They are looking forward to meeting with clients and partners at the show, as well as showcasing MetOcean’s latest defence technology. Please visit their team of defence experts at booth F24 at Undersea Defence Technology (UDT) 2022, in Rotterdam, the Netherlands. Undersea Defence Technology (UDT) Undersea Defence Tec...

International shipping accounts for approximately 3% of global Greenhouse Gas (GHG) emissions, and this will increase in a business-as-usual scenario. To decarbonise the maritime industry, there will be a massive need for green fuels and associated technologies. In particular, scalable zero-emission fuels (SZEFs) such as green hydrogen and green ammonia are considered the most promising fuels for the industry’s transition. Due to its large renewable capacity and unique location sitting at...

A.P. Moller - Maersk (Maersk) announces the closing of the acquisition of Senator International, a well-renowned global company in freight forwarding. Integrated logistics solutions Senator brings with it a strong organisation and a well-developed airfreight network comprising its controlled flights and long-term partnerships with best-in-class airlines, a well-established full container load (FCL) and less than container load (LCL) network, and specialised services such packaging, warehousing...

A trusted provider of logistics services to the offshore industry for over 60 years, supporting operating companies on the Norwegian continental shelf, NorSea first welcomed Wilhelmsen as one of the owners in 2012. The latest transaction increases Wilhelmsen's shareholding from 75% to 99%.  Now announced increased shareholding was a purchase option that was agreed in 2017 with a set price at MNOK 500. Former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have each...

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Bashir Jamoh said the arrival of the Nigerian Naval Ship - NNS KADA will greatly enhance security in the Nigerian maritime domain, and commended the Chief of Naval Staff, Vice Admiral AZ Gambo for this achievement. Dr. Bashir Jamoh who joined the Chief of Naval Staff at the Naval Dockyard in Lagos, Nigeria, to witness the arrival of the ship from the United Arab Emirates (UAE), commended the Nigerian Nav...

Thor Shipping & Transport AB and Svecon Freight AB are changing their names to Thor Svecon Group AB and at the same time introduce a new visual identity. The name change decided at an Extraordinary General Meeting on March 18, 2022, marks a new phase in the company's development and is another step in strengthening the company's market position and continued growth in line with the strategic plan. Strategy plan "We have great ambitions to continue on this growth journey. In recent years,...

Neste and Netherlands-based startup Circularise have announced a partnership to bring Circularise’s traceability software into circular polymers and chemicals supply chains. The companies are collaborating in establishing digital solutions to trace renewable and recycled material flows, providing increased transparency along the value chain. The companies will use Circularise’s blockchain-based supply chain traceability software, which creates a digital twin for the physical materia...

May saw the highest ever monthly increase in long-term contracted ocean freight rates, as the cost of locking in container shipments soared by 30.1%. The unprecedented hike, revealed in the latest Xeneta Shipping Index (XSI®) Public Indices for the contract market, means that long-term rates are now 150.6% up year-on-year. In 2022 alone, costs have climbed by 55%. “This is a staggering development,” comments Xeneta CEO Patrik Berglund. “Just last month we were looking at a...

The naming and delivery ceremony of CULINES' first container new building CUL NANSHA was held in the Longxue Plant of CSSC Huangpu Wenchong Shipbuilding in Nansha, Guangzhou. More attendees joined this ceremony via video call from Shanghai and the United States. Hongyu Xu (Deputy Director-General of Guangzhou Port Authority), the godmother of CUL NANSHA, cut the rope and named the new vessel. Attendees Yuzhang Pan (Second-Level Inspector of the Administrative Commission of Nansha Economic and...

As there are always better ways to address a market, CMA CGM – Short Sea Lines Division is pleased to announce its TMX 1.2 service launching as of WEEK 23, the faster-ever maritime bridge between Turkey/Spain/France/Algeria. This new weekly Pendulum service (starting ex Ambarli on June 8th, 2022 with m/v “CONTSHIP FUN”) is resulting from a re-shuffling of the SSL INTRAMED services. The TMX product is composed out of 4 loops [TMX 1; TMX 1...

MetOcean Telematics is pleased to announce that they will be exhibiting at CANSEC 2022 event in Ottawa, Ontario, Canada, from June 1-2, 2022. CANSEC is North America’s largest multi-service defence event and is back for its 25th anniversary in 2022. They are looking forward to connecting with partners and clients at the show, and showcasing MetOcean’s latest defence technology. Visitors at CANSEC 2022 event can visit the MetOcean team at booth 1010. CANSEC CANSEC has been held ann...

The Lloyd’s Register Maritime Decarbonisation Hub and partners launch ‘The Silk Alliance’ to develop a Green Corridor Cluster beginning with intra-Asia container trade. The Silk Alliance seeks to develop a fleet-specific fuel transition strategy for container ships operating in Singapore and wider Asia. The Lloyd’s Register Maritime Decarbonisation Hub is working with 11 cross-supply chain stakeholders to develop a fleet fuel transition strategy that can enable the estab...

To navigate the challenge of net-zero carbon emissions, Yang Ming Marine Transport Corporation (Yang Ming) has joined The Silk Alliance, in order to develop and formulate potential measures for vessel decarbonisation, among members of maritime supply chain. The Silk Alliance is aimed at establishing Green Corridor Cluster and paving the pathway towards maritime decarbonisation. The Silk Alliance Initiated by the Lloyd’s Register Maritime Decarbonisation Hub, The Silk Alliance consists o...

The organisers of London International Shipping Week are proud to announce that Inmarsat has signed up as Diamond Sponsor of next year’s event, London International Shipping Week 2023 - LISW23. This announcement follows confirmation that the week-long premier global shipping and maritime event will be held during the week of September 11 to September 15, 2023. Inmarsat is the world’s renowned provider of global mobile satellite communications. Shipping Innovation, the Owner of Londo...

The Director-General of the Nigerian Maritime Administration and Safety Agency, NIMASA Dr. Bashir Jamoh declared that the Agency is committed to the domestication of her capacity development programme to save the nation scarce foreign exchange needed in training young Nigerians abroad. Dr. Jamoh stated this when he received the Management of Greg Ogbeifun Institute of Maritime Technology together with their partners from the Training Centre for Blue Collar Port Workers in the Port of Antwerp...

International Maritime Organization’s GHG Working Group finalises guidelines to support implementation of carbon intensity measures and agrees to further develop a ‘basket of candidate mid-term measures’, including technical and carbon-pricing elements Draft guidelines to support implementation of ship carbon intensity measures coming into effect in 2023 have been finalised by an International Maritime Organization (IMO) Working Group.  12th session of the ISWG-GHG 12 T...

Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh has restated the Agency’s commitment to ensuring effective pollution prevention and control in the Nigerian Maritime domain, in order to continue to create an enabling environment for the sector to thrive. Dr. Bashir Jamoh who made this assertion while speaking at the 7th meeting of the National Standing Committee on International Oil Pollution Compensation (IOPC) Fund implementation in N...