Finance - News

MySky, the only AI-powered spend management platform designed for the private aviation industry, and Satcom Direct (SD), the business aviation solutions provider, announced a strategic alliance enabling seamless access to real-time data for private aviation. Subscribers to MySky and SD will greatly benefit from an all-encompassing approach to aircraft management that combines operational and financial information into a single source of data, the SD Pro® platform. MySky and Satcom Direct p...

MAN Energy Solutions successful ME-GI (-Gas Injection) engine has set a new industrial standard for two-stroke propulsion engines aboard among others LNG carriers, container vessels, car carriers, and bulk carriers. The ME-GI engine provides ship-owners and operators with a peerless solution within environmentally friendly and high-efficiency, two-stroke technology, without the greenhouse emissions such as methane slip that are characteristic of competing engines. Multi-fuel combustion With t...

HMM announced that the company has signed sales and purchase agreement with CMA CGM for the sale of its 50% stake, minus one share, in the Total Terminal International Algeciras (TTI Algeciras), a container terminal in the south of Spain. 50% stake sale of TTI Algeciras Shares of TTI Algeciras are owned by HMM and HT Algeciras, which is a special purpose company that is wholly controlled by HMM. HMM directly owns a stake of 50% minus one share, with the remaining 50% stake plus one share held...

Unifeeder announces that starting August 22nd, 2020, it will increase capacity on its weekly service between Benelux and Portugal. To serve all customer segments, Unifeeder deploys new vessels that are suitable for carrying all types of containers, from deep-sea cargo to tank containers and European 45’ pallet-wide containers. Rotterdam being the leading European hub port allows consolidation Intra-European cargo flows on a single vessel and distribution to key ports in Portugal. The ser...

July 11, 2020, is the 16th China Navigation Day. The ‘2020 China Navigation Day Forum’ with the theme of ‘Joining Hands to Maintain International Logistics Flow’ was held in Shanghai. Mr. Liu Xiaoming, Deputy Minister of the Ministry of Transport, Mr. Tang Zhiping, Deputy Mayor of Shanghai Municipal People's Government, Mr. Li Tianbi, Safety Director of the Ministry of Transport, Mr. Huang Rong, Deputy Secretary-General of Shanghai Municipal People's Government and other...

The COVID-19 epidemic could not stop the progress of SITC International’s people. After months of intense preparations, SITC Indonesia Jakarta container yard was successfully put into operation. SITC Indonesia Jakarta Depot The SITC Indonesia Jakarta Depot is mainly engaged in container storage, warehousing, container equipment repair and maintenance, and container transportation. Through a professional team and advanced information management, SITC International can provide customers wi...

This year, Wrist Ship Supply can pride themselves of having three generations of the graduate program, the Wrist Acceleration program, working side by side in the Montreal Branch: Shayne Assaf – a graduate from the WAP 2014 team, who is the Branch Manager. Kevin Ghostlaw – a graduate from the WAP 2018 team, who recently transferred from Long Beach to Montreal to take up the Sales Manager position. Frank Berce – their latest recruit to the WAP 2020 team, who is the Technica...

The heads of nine companies today established a new initiative to accelerate the transition to a net-zero global economy. The initiative, known as Transform to Net Zero, intends to develop and deliver research, guidance, and implementable roadmaps to enable all businesses to achieve net-zero emissions. The Initiative will be led by founding members including A.P. Moller - Maersk, Danone, Mercedes-Benz AG, Microsoft Corp., Natura &Co, NIKE, Inc., Starbucks,...

SAGT - South Asia Gateway Terminals Ltd, the first Public Private Partnership (PPP) container terminal in Sri Lanka, also became the first terminal in the country to adopt the Blockchain Technology, by collaborating with TradeLens, a digital platform jointly developed by A.P. Moller - Maersk and IBM. This move will help in accelerating the digitisation agenda of shipping industry in Sri Lanka, by transforming manual, paper-based and time-consuming administrative processes into digital ones. SAG...

SD Government, the global satellite connectivity solutions provider, is extending the life of Inmarsat’s existing satellites through the leasing of an additional antenna at SD Government’s Santa Paula, CA. Teleport. The newly leased 12.8m antenna is transmitting and receiving in both C-band and L-band frequencies, bolstering capacity for the Tracking, Telemetry and Command (TT&C) and traffic operations of the Inmarsat satellite network. The Santa Paula teleport hosts Inmarsat&r...

SBM Offshore is pleased to announce the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba. The facility was secured by the special purpose company owning FPSO Sepetiba and was agreed upon with a consortium of four international banks. SBM Offshore is the majority owner of this special purpose company (with 64.5% equity ownership), together with Mitsubishi Corporation (20%) and Nippon Yusen Kabushiki Kaisha (15.5%). Construction of...

Kongsberg Digital has announced the acquisition of COACH Solutions, a globally renowned supplier of software solutions for vessel performance and monitoring. The new name of the company will be KONGSBERG COACH Solutions. Danish shipping company, Clipper Group developed COACH Solutions’ vessel performance monitoring system and in 2016, it was established as COACH Solutions. The company’s software has more than 900 licences running. Suite of tools for vessel performance COACH Solu...

Ocean Network Express (ONE) is pleased to announce two new direct sailing services, connecting China and South East Asia. Following the previously announced CID, connecting China and Indonesia, ONE will further expand the China – South East Asia network by introducing China Thailand Service (CTS) and the revamped Thailand Philippines Service (TP2). Improving transit times The direct sailings will improve transit times and strengthen ONE’s robust portfolio in Asia The services wil...

MetOcean Telematics (MetOcean), is pleased to welcome two new members to its expanding team: Paul Brooks, as VP of Engineering and Operations, and Sheldon Hope, as Director of Manufacturing. Both Paul Brooks and Sheldon Hope will operate out of MetOcean’s head office location in Dartmouth, Nova Scotia. Paul Brooks MetOcean is a familiar territory for Paul Brooks (Paul). Paul was previously MetOcean Data Systems’ VP, of Engineering from 2012-2016 and MetOcean is excited to welcome...

The shipping industry has made a strong commitment to reduce its global carbon emissions towards 2050. A group of leading industry players are taking the next step to develop new fuel types and technologies by launching the Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping. The founding company partners behind this initiative are ABS, A.P. Møller - Mærsk, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Line and Siemens Energy. The centre, wh...

A group of leading industry players are taking the next step to develop new fuel types and technologies by launching the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping. The founding company partners behind this initiative are ABS, A.P. Moller - Maersk, Cargill, MAN Energy Solutions, Mitsubishi Heavy Industries, NYK Line and Siemens.  The centre, which will be based in Copenhagen, Denmark, is made possible by a start-up donation of DKK 400m by the A.P. Moller Foundation. Decar...

Blue Water Port Services is involved in two projects for Siemens Renewable Energy. The first project is Coastal Virginia Offshore Wind, consisting of two 6 MW wind turbines to be installed 27 miles off the coast of Virginia Beach, USA, and is the nation’s second offshore wind farm. The second project is Borssele Wind Farms 1 and 2, where 94 Siemens Gamesa 8 MW wind turbines will be installed 14 miles off the coast of the Dutch province Zeeland. Siemens Gamesa Renewable Energy The first...

In wake of the COVID-19 pandemic, Maersk, the integrated container logistics company, is taking all necessary measures to keep its employees safe and its customers’ supply chains moving with minimum disruptions. Maersk has ensured all its office-based employees work remotely with access to adequate IT infrastructure. The company is also urging its customers to make full use of its online platforms in the interest of ensuring safety for all. By leveraging pre-existing high-impact digital p...

Oil Companies International Marine Forum (OCIMF) has been working with BIMCO, ICS, INTERCARGO & INTERTANKO, in collaboration with Nigerian Authorities, in order to improve maritime security and better understand the challenges faced by seafarers.　 Post a series of successful meetings with the Nigerian Government, an Industry/NIMASA Joint Working Group (JWG) has been formed of key stakeholders. The working group held their first meeting on 28 May, 2020 and will focus on: National and reg...

DP World, a renowned enabler of global trade, has completed the early stages of integration with TradeLens, a blockchain-based digital container logistics platform, jointly developed by A.P. Moller - Maersk and IBM. The collaboration between DP World and the TradeLens platform will help accelerate the digitisation of global supply chains. DP World aims to connect all its 82 marine and inland container terminals, as well as feeder companies and logistics divisions with TradeLens. In 2019 DP Worl...

Merseyside shipyard and marine engineering services company - Cammell Laird has announced that John Syvret is retiring from his role as Executive Chairman and Chief Executive Officer at Cammell Laird and Atlantic and Peninsula Marine Services. John, whose retirement follows 43 years of service to the maritime sector, will continue to support Cammell Laird and Atlantic & Peninsula Marine Services in his capacity as a non-executive Director. John will also maintain his involvement with his ch...

MetOcean Telematics, is pleased to announce that it will supply the Royal Navy with its new Maritime Acoustic Scoring and Simulation System (MASS). The United Kingdom Ministry of Defence (MoD) awarded MetOcean an extensive contract vehicle to supply MASS, and systems will soon be commissioned by the Royal Navy. Maritime Acoustic Scoring and Simulation System (MASS) MASS eliminates the need for land bombardment ranges and the necessity to destroy physical targets MASS is the world’s fir...

Shipping accounts for 2.2% of global greenhouse gas emissions. Norwegian shipping companies are now taking a leading role in the fight against climate change. The goal is for the entire Norwegian fleet to be climate neutral by 2050. The aim of the Paris Agreement is to limit global warming to 1.5 degrees. The UN Intergovernmental Panel on Climate Change has given the world ten years to halve the total greenhouse gas emissions and maintains that they must drop to net-zero emissions by 2050. Clim...

To meet the shipping needs of the market and customers, CULINES is upgrading its South China-Taiwan direct container service (STD) from May 29, adding a call to Nansha Port. The STD will call at the Nansha Container Terminal III every Saturday, so the new port rotation will be Kaohsiung – Taichung – Huizhou – Yantian –Nansha – Shantou – Kaohsiung. Providing two direct sailings With this upgrade, CULINES will be providing two direct sailings per week between...

In May 2019, Maersk released Maersk Spot. It didn’t happen overnight, but something needed to be done about the everyday inefficiencies it was experiencing within shipping. Instant gratification is something users are used to in most aspects of their lives, but why not within the shipping industry? Imagine adding something to the basket on Amazon without knowing the price, how much delivery would cost, or how long it would take to arrive? Users wouldn't accept this in everyday life so why...

The latest vessel of Kongsberg Maritime design to enter service, an 81.80m NVC 375 WP freezer trawler named Ilivileq, has just been delivered to its working domain in the Arctic waters. Ilivileq, freezer trawler Ilivileq typifies the principles upon which the NVC range was conceived, combining an economical and environmentally beneficial foundation of low emissions and fuel-efficient operation, with a freeboard of optimal height, in order to ensure crew safety, teamed with modern, responsible...

Kongsberg Digital has signed a MUSD 25 agreement for the delivery of real-time data aggregation and visualisation software, and various domain specific services for a major energy company. The agreement includes an upside potential of up to MUSD 5, over the next five years, should the customer decide to expand delivery to all installations. Software services The agreement is covering a portfolio of software services for data aggregation, visualisation and decision support. These services are...

SBM Offshore CEO Bruno Chabas commented: “SBM Offshore delivered a good set of results during the first quarter of 2020, in line with expectations. The Company’s results, dividend track record and completed share repurchase exemplify SBM Offshore’s robust business model. At the same time, SBM Offshore is also impacted by the combined demand and supply crises in the oil and gas market and is taking measures to evolve and adapt with the uncertain dynamic market conditions."...

A.P. Moller - Maersk. had a financially strong start to the year. Despite the COVID-19 pandemic’s profound impact on global trade the company kept the momentum in its strategic transformation and demonstrated robustness to weather the crisis.  First-quarter results  “In the first quarter of the year, A.P. Moller - Maersk again delivered profitable growth. Operating earnings increased by 23% year-on-year, and cash return on invested capital increased by 3.5 percentage po...

Imabari Shipbuilding Co., Ltd. (‘Imabari’), MAN Energy Solutions (hereinafter ‘MAN’), Mitsui E&S Machinery Co., Ltd. (‘Mitsui E&S Machinery’), ClassNK (‘ClassNK’), ITOCHU ENEX Co. Ltd. (‘ITOCHU ENEX’) and ITOCHU Corporation (‘ITOCHU’) have agreed to jointly develop ships equipped with the main engine using ammonia as its main fuel (‘Ammonia-fuelled Engine’). With international momentum towards the transi...