Rising costs

Korean Register's Lee Jungkun leads IACS safety panel

KR (Korean Register) is pleased to announce that Lee Jungkun, General Manager of KR’s Convention & Legislation Service Team, has been elected as the next Chair of the International Association of Classification Societies (IACS) Safety Panel, with a three-year term running from January 1, 2026, through December 31, 2028.  The appointment was confirmed at the 91st IACS Council Meeting held in Beijing, China.  IACS’s seven technical panels The Safety Panel is one of IAC...

ClassNK Fleet Cost Simulation: Decarbonise with ease

ClassNK launches a new service, ‘ClassNK Fleet Cost Simulation’, as part of its ‘ClassNK Transition Support Services’, which aims to facilitate the maritime industry’s transition to decarbonised fuels. This new service estimates the cost impact of GHG emission reduction regulations, including IMO's mid-term measures, EU-ETS, and FuelEU Maritime on behalf of clients. This service provides the ‘ClassNK Fleet Cost Calculator’, a calculation tool that simu...

Open source intelligence for maritime surveillance: Safeguarding the global shipping industry

The global maritime surveillance market is projected to grow from $21.9 billion in 2023 to $ 42.7 billion by 2033. This growth is being driven by increasing global trade, maritime security concerns, and the adoption of advanced surveillance technologies such as radars, drones, and satellite monitoring systems. Moreover, the global shipping industry is now on the frontlines of a new kind of conflict — one defined by economic coerc...

Susesea cuts lubrication costs with Chevron TUA 40

Turkish shipowner, Susesea, has successfully upgraded the cylinder lubrication strategy across its fleet of six bulk carriers by adopting Chevron’s Taro® Ultra Advanced 40 (TUA 40). Working closely with Chevron Marine Lubricants and its regional distributor, Petrol Ofisi, Susesea has streamlined vessel operations and reduced cylinder oil feed rates by approximately 33 percent, delivering both technical and commercial benefits. MAN Mark 9 engines Susesea’s engineers rotated bet...

London P&I Club: Operating surplus & growth in 2025

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...

Korean Register leads ammonia safety initiative

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...

vfd