Rising costs - News

Technology group Wärtsilä will supply its Wärtsilä 20 main engine and selective catalytic reduction (SCR) system for a new 40.9-metre long state-of-the-art fishing vessel, specifically designed for lobster fishing. The vessel, which will operate in North Atlantic waters, has been ordered by Canadian operator Clearwater Seafoods and will be built at the Hvide Sande Shipyard in Denmark. The order was booked by Wärtsilä in Q2 2025.  Services for the fi...

Global liquefied natural gas (LNG) trade grew by 2.4% in 2024 to 411.24 million tonnes (MT), connecting 22 exporting markets with 48 importing markets. Asia Pacific remained the largest exporting region with 138.91 MT in 2024, adding 4.10 MT over 2023. European LNG imports declined sharply, falling 21.22 MT year-on-year to 100.07 MT, driven by high storage levels at the start of the year, sluggish demand, and steady pipeline flows. However, LNG demand rebounded in Asia, with China and India pos...

Kongsberg Maritime has announced the launch of a new electric towing winch, expanding its winch product portfolio to better serve the tug market. The new winch is powered by a frequency converter-driven electric motor, delivering enhanced operational efficiency and reduced environmental impact compared to traditional hydraulic systems. Reduction in hydraulic systems A key advantage of the new electric towing winch is the reduction in hydraulic systems on board A key advantage of the new elec...

INTERCARGO, the International Association of Dry Cargo Shipowners, convened last week in Guangzhou for its semi-annual meetings, the first time the Association has held such an event in China. The meetings, hosted by COSCO Shipping Bulk, brought together members from across the globe for two days of dialogue and decision-making. Senior representatives gathered to discuss pressing issues the dry bulk sector is facing, including the evolving regulatory landscape, operational performance, and the...

Artemis Technologies, a pioneer in high-performance maritime innovation, alongside Orkney Ferries and the European Marine Energy Centre (EMEC), are pleased to announce the arrival in Orkney of the fully electric hydrofoil vessel – the Artemis EF-12 Workboat XL, named ‘Zevi 1’. The arrival of the Belfast-built Artemis EF-12 Workboat XL is an important landmark in the Electric Orkney project, which aims to demonstrate the benefits of electric-powered hydrofoil workboats and pass...

ABS issued an approval in principle (AIP) to Samsung Heavy Industries (SHI) for its design of a multi-purpose liquefied natural gas (LNG) floating facility for deep water (MLF-O). Called MLF-O, the next-generation design from SHI optimises the production facility for deepwater areas with a wave height of nine metres. According to SHI, the design has the advantage of providing faster delivery and cost-effective efficiency compared to onshore plants. ABS completed design reviews based on class an...

During the DEEPDIVE - Analyst and Investor Underwater Day held today in Milan, Fincantieri presented its long-term strategic vision for the development of its underwater segment to the financial community, outlining a clear, ambitious, and already well-advanced path of industrial growth. Accounting for about 4% of Group revenue in 2024, the segment is set to double in 2027, reaching 8%, with expected revenue of approximately 820 million euros and est...

They are pleased to announce that Grieg Logistics, which Inchcape Shipping Services acquired in June 2024, will officially change its name to Inchcape Shipping Services on 19 May 2025. This rebranding marks Grieg Logistics' full integration into the Inchcape family, uniting the strengths under one global brand. While Grieg Logistics' name is changing, the commitment to excellence remains steadfast. The dedicated team and exceptional customer service that has defined Grieg Logistics will continu...

Marine Evacuation Systems (MES) served by liferafts is an efficient and widely used method for mass evacuation at sea.  With passenger ship capacities increasing, the ability of MES to evacuate hundreds of people in a matter of has been tested exhaustively in Beaufort Sea State 6 conditions. MES and liferafts MES and liferafts – five things they need to know To be compliant, liferafts must be designed in accordance with SOLAS Chapter lll and the LSA Code. All VIKI...

Immersion suits are a crucial safety tool for survival in cold water, designed to protect the wearer by minimising body heat loss. These suits are available in two types, offering either one-hour or six-hour insulation, which helps to prevent hypothermia in freezing waters. Why immersion suits are designed Combination of features makes immersion suits an essential part of cold-water survival gear Made from waterproof materials, immersion suits cover the entire body, except for the face, ensu...

Anemoi Marine Technologies Ltd, an industry pioneer in wind-assisted propulsion systems, has announced that it is collaborating with Hafnia Limited, Guangzhou Shipyard International (GSI), and DNV to develop the integration design of Rotor Sails suitable for installation on 50,000 dwt Medium-Range (MR) tanker vessels. The companies signed a Joint Development Project (JDP) in April 2025 to develop a new generation of efficient and environmentally friendly Rotor Sail vessel designs to increase th...

How does ammonia behave when it leaks in an engine room? How does a cloud of escaped ammonia disperse during bunkering operations? These and many other critical safety questions that must be understood if ammonia is to become widely adopted as a marine fuel are addressed in the latest industry-leading ABS research. Risks associated with ammonia dispersion Safety Insights for Ammonia as a Marine Fuel brings together the findings of advanced ABS research into the performance of ammonia on...

Indian Register of Shipping hosted a Seminar on ‘Sustainable Ship Recycling: Charting India’s Course to Global Leadership’, at Bhavnagar near Alang. The seminar was held in the backdrop of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC), which is set to enter into force this June. Ship recycling activities The seminar drew active participation from various stakeholders, including the SRIA The seminar drew active pa...

ABS awarded approval in principle (AIP) to HD Korea Shipbuilding and Offshore Engineering (HD KSOE) for its design of an advanced cargo handling system for very large ethane carriers (VLECs). The design consists of a refrigerant-based reliquefication system and an ethane fuel supply system installed on the ship. ABS completed design reviews HD KSOE says the design, once developed, will help customers reduce operating costs HD KSOE says the design, once developed, will help customers reduce o...

Following the successful debut of Malaysia’s first hybrid Fast Crew Boat (FCB), Strategic Marine is pleased to announce the delivery of the second hybrid FCB to Centus Marine as part of their continued partnership to advance cleaner and more efficient offshore vessel technologies. The vessel, named Centus Alesha, features Strategic Marine’s hybrid propulsion system, which significantly reduces fuel consumption and emissions. Designed in collaboration with Centus Marine, it supports...

Indian Register of Shipping (IRS), a pioneering international classification society, marked a significant presence at the Seatrade Maritime Middle East 2025, showcasing its expanding portfolio of services, including advancements in digitalisation, decarbonisation, and maritime sustainability initiatives. As part of its outreach efforts, the IRS hosted a Customer & Stakeholder Event on the sidelines of the exhibition. Insights and valuable recommendations The event was very well attended...

ABS Chairman and Chief Executive Christopher J. Wiernicki spoke about the application of advanced strategies to improve shipbuilding competitiveness at the Manufacturing at Massachusetts Institute of Technology (MIT) Symposium. Speaking on the Strengthening Supply Chains and the Industrial Base panel, he outlined an equation for manufacturing success that includes a combination of five key elements working together that will drive the pace of successful and sustainable manufacturing:...

A routine ship on a special call, outside the normal liner schedule, turned into a costly oversight for a liner agent, resulting in unexpected expenses of US$135,000 – ultimately reimbursed by the International Transport Intermediaries Club (ITIC). The incident began when a liner agent received advance notice of an inbound vessel scheduled to make a special call outside the regular service pattern. Ship’s arrival at the discharge port Line informed the agent of a three-day delay i...

In alignment with Saudi Arabia’s vision to emerge as a global logistics powerhouse, the 2nd International Port & Marine Development Conference (IPMDC 2025) is set to take place from 13–14 May 2025 at the prestigious Hilton Jeddah. Organised by Creative Connect in association with Great Minds Event Management, this landmark conference gathers industry authorities and global experts to explore the evolving dynamics of port infrastructure, marine development, and the region’...

The prospect of a large-scale return of container ships to the Red Sea following the announcement of a ceasefire between the US and Houthi militia in Yemen would flood the market with shipping capacity and cause a global collapse in freight rates – but the situation remains far from certain. Data released by Xeneta – the ocean and air freight intelligence platform – shows global TEU-mile demand would decrease 6% if container ships begin sailing through the Red Sea and Suez Can...

In an industry first, ABS has published guidance to enable internal examination of tanks beyond the typical five-year requirements to once every 10 years, with options to have additional expanded survey intervals. The new guidance has the potential to maximise operational uptime for site-dependent assets such as floating storage and regasification units (FSRUs), floating production and storage and offloading vessels (FPSOs), floating storage and offloading vessels (FSOs) and floating offshore l...

Indian Register of Shipping (IRS), a pioneering international ship classification society and member of the International Association of Classification Societies (IACS), is proud to announce the opening of its new office in the Kingdom of Saudi Arabia. This strategic expansion highlights IRS’s commitment to supporting the Kingdom’s rapidly growing maritime and oil & gas sectors. IRS full suite of services With the placement of the Dammam, IRS will offer its full suite of servi...

ABS awarded approval in principle to Seatrium Marine & Deepwater Technology for its new design of a floating wind semi-submersible (FWSS) floating column foundation for 15MW wind turbines. Seatrium highlights that the design is optimised for efficient fabrication and cost-effectiveness while being capable of handling the harshest environments. The new design concept features pontoons on three sides and a centre column that supports the turbine. ABS completed design reviews based on class an...

Indian Register of Shipping (IRS) is proud to announce that CMA CGM Vitoria, a vessel operated by CMA CGM, one of the world’s pioneering container shipping lines, has been successfully classed with IRS. This milestone marks a significant achievement in IRS’s growing engagement with major global shipping companies and reinforces its standing as a trusted and recognised classification society on the international stage. CMA CGM’s decision to work with IRS reflects the strong tec...

Gastech 2025, the world’s largest conference and exhibition for natural gas, LNG, hydrogen, climate technologies, and AI-powered solutions, will take place in Milan from 9th to 12th September. As the industry navigates an evolving geopolitical and economic landscape, this agenda-setting event will gather and empower over 50,000 energy pioneers - including C-suite executives, policymakers, pioneering innovators, and strategic investors - to build powerful alliances and accelerate a resilie...

Choosing the right dual-fuel propulsion system for a new vessel requires a balance of regulatory compliance, infrastructure readiness, safety considerations, operational flexibility and long-term economic viability. That’s the message from ABS in its latest publication to support shipowners who are wrestling with propulsion decisions that will impact their future fleets for years to come.  Dual-fuel propulsion options ABS Dual-Fuel Solutions for Newbuild Vessels is a wide report th...

Xeneta has launched an index-linked contract (ILC) simulator to help shippers navigate ocean freight container market volatility and end procurement inefficiency. The new ILC Simulator – now available in the Xeneta platform – allows shippers to compare traditional fixed-rate contracts with index-linked contracts using sample corridor data or their own historical ocean container freight rates. Shippers and logistics services The simulator is an important first step towards index-li...

VIKING uses a test tower facility to perform onshore full-scale testing of free-fall lifeboats, as required by DNVGL-ST-E406. This avoids the complexity and risk of testing from offshore installations. And the approach is recognised by classification societies and national authorities. Onshore testing to offshore activities The onshore tower facility is increasingly engaged by construction yards that wish to receive fully tested equipment that is ready to be installed on the platform or vess...

VIKING Norsafe rescue boats are used every day by thousands of operators in the oil and gas industry as well as the renewable energy sector. The design and construction of these boats showcase all of VIKING Norsafe's ability and experience. Our rescue boats and fast rescue boats provide great maneuverability with low maintenance standby and operation providing the means for effective search and recovery for people at sea. MERLIN-615 R and MAKO-655 MERLIN-615 R and MAKO-655 are available as bo...

In a major push toward decarbonising maritime logistics, President Jae-young Byeon of the Ulsan Port Authority (UPA) and Chief Executive Sun-bae Hong of the Korea Maritime Cooperation Centre (KMC) jointly announced the successful conclusion of the “2nd Forum on the Commercialisation of Biofuels for Maritime Vessels,” held on 23 April at the Caradium Hall of the PJ Hotel in Seoul. The forum, hosted by the Ministry of Oceans and Fisheries and co-organised by UPA and KMC, drew around 3...