Rising costs - News

Alfa Laval, a pioneer in heat transfer & centrifugal separation, is pleased to announce the appointment of ESI Process (UK) Ltd as its new distribution partner for the industrial sector and process industries within the United Kingdom, explicitly for Alfa Laval’s Energy Division. Effective immediately, ESI Process (UK) Ltd will be responsible for the distribution of Alfa Laval's extensive range of products and solutions, including Gasketed, Spiral & Compabloc heat exchangers. This...

The 163rd ABS Annual Members Meeting highlighted that ABS has never been stronger, with substantial growth and industry-pioneering safety performance reported. ABS continued to perform strongly in 2024, with the fleet growing to 300 million gross tons. The company also maintained the number one position among class organisations in global new order share with 22 percent. Across the industry, ABS held pioneering positions with both shipbuilders and shipowners. Digital and sustainability service...

The Olympic Zeus marked a significant advancement in maritime technology and a disruptive step into reduced environmental footprints upon its delivery in 2009. It gained tremendous attention in the Anchor-Handling Tug Supply (AHTS) market by adopting a hybrid Diesel-Electric/Diesel-Mechanical (DE/DM) power system, unlike its predecessors that relied on solely Diesel-Mechanical (DM) propulsion. Reduction in fuel consumption Innovation resulted in an impressive reduction in fuel consumption by...

In a landmark event, a meticulously reconstructed 5th-century wooden stitched ship was launched into the waters of the Mandovi River in Goa. This endeavour, a collaborative effort between the Ministry of Culture, the Indian Navy, and Hodi Innovations Pvt. Ltd., signifies a monumental step in reviving India's ancient maritime traditions. Modern stability and strength needs IRS has been instrumental in this project, ensuring that while the vessel retains its historical design Indian Register o...

The English Commercial Court (the “Court”) has provided helpful clarity on the extent of damages available to a claimant shipowner for the late redelivery of a vessel under a time charter where there is evidence that the owner of the vessel would have been unable to enter into a subsequent charter for the vessel. In such circumstances, only nominal damages will be recoverable, as no actual loss has been suffered. Background Hapag-Lloyd AG (the “Charterers”) entered i...

In recognition of its exceptional achievement in maintaining a safe work environment, the National Safety Council (NSC) presented ABS with two safety awards. The NSC is a globally recognised nonprofit organisation committed to eliminating leading causes of preventable death and injury in the workplace and on roadways. Their awards program recognises organisations and individuals who have made significant contributions to upholding the safety of their workplaces and communities. ABS’ acco...

On the occasion of its 50th Foundation Day on 4th April 2025, the Indian Register of Shipping (IRS) achieved a remarkable milestone by setting an Indian record for the ‘Largest Corporate Flag made on cloth’, as recognised by the India Book of Records. The massive flag, measuring 60 feet by 40 feet, was unfurled within the IRS Head Office premises. Adorned with the organisation’s logo, emblem, and corporate colours, the flag stands as a bold and symbolic representation of...

Transport Secretary, Heidi Alexander, said: “Today we mark significant progress in our journey to creating a greener, cleaner planet with a landmark agreement at the International Maritime Organization."   “We have worked closely with international partners to forge a path for sustainable shipping internationally and secure a prosperous, resilient sector, laying a strong foundation for the future." Development of clean fuels Alexander added: “This deal means t...

Brunvoll has signed a contract with Rizhao Gangda Shipyard for the delivery of an extensive propulsion, manoeuvring, and dynamic positioning system for an Emergency Towing Vessel (ETV).  The vessel is owned by Smit Lamnalco, a subsidiary of Boskalis, and will operate for the Austral Maritime Safety Authority. Its mission is to protect the marine environment around the Great Barrier Reef and Torres Strait – some of the most precious marine areas in the world. Brunvoll twin-screw prop...

Sentinel Marine, a member of the Cyan Renewables Group, has signed a shipbuilding contract with Jiangmen Hangtong Shipbuilding Co., Ltd for the construction of a 65-metre multi-role energy support vessel to join their fleet, with options for a further three vessels. The new vessel will bring the fleet number to 15. The initial vessel in this innovative new class is scheduled for delivery in Q2 2027. The newbuild will be a DP2 vessel with a deadweight of 1,600 tonnes, with 375m² of clear de...

Technology group Wärtsilä has introduced a new methane slip reduction solution for its Wärtsilä 50DF dual-fuel engine. The new technology, which converts Wärtsilä 50DF dual-fuel (DF) engines to spark gas (SG) operation, enables a more optimised combustion process, thereby improving efficiency and lowering methane emissions. Wärtsilä 50DF engine Whilst operating on LNG, the new ‘Spark Gas Conversion for Wärtsilä 50DF’ is designed to...

Hefring Marine, an Icelandic pioneer in intelligent marine technology, and Marine AI, a UK-based pioneer in autonomous vessel control systems, announced a new mutually beneficial partnership.  This collaboration aims to enhance autonomous maritime operations by integrating Hefring Marine’s Intelligent Marine Assistance System (IMAS) with Marine AI’s GuardianAI autonomy suite.  Hefring Marine’s IMAS Hefring Marine’s IMAS will complement GuardianAI’s exis...

ABS Consulting has published an insightful new paper highlighting how aligning cybersecurity initiatives with key operational readiness principles enables organisations to develop a comprehensive strategy that enhances both operational resilience and guest safety.  Maritime cybersecurity A Strategic Approach for the Cruise Industry, is the second in an industry-pioneering series on maritime cybersecurity that builds on ABS Consulting’s work supporting cruise clients’ safety co...

Cargotec Corporation has signed an agreement to sell its MacGregor business area to funds managed by Triton, for an enterprise value of EUR 480 million (“the Transaction”) to support Hiab’s future growth. Cargotec’s shareholders Transformation into a standalone Hiab is expected to take place on 1 April 2025. Cargotec’s transformation project, including listing Kalmar as a separate company, preparing Hiab for its standalone future and finding a solution for Ma...

Fincantieri has signed an agreement with Carnival Corporation & plc for the design and construction of two new cruise ships for AIDA Cruises, the pioneering cruise line in the German-speaking cruise market. The value of the agreement for the two ships, subject to financing and other typical terms and conditions, is considered as very important. This marks the first time that Fincantieri will build cruise ships for AIDA Cruises, thus reinforcing its strateg...

Mack Boring & Parts Co., a pioneering provider of marine and industrial power solutions, is pleased to announce a new partnership with Mercury Marine, a division of Brunswick Corporation. As an authorised Mercury Engine Power Centre, Mack Boring will now provide comprehensive sales, service, and support for Mercury Marine’s innovative lineup of engines. Mack Boring’s commitment This strategic collaboration strengthens Mack Boring’s commitment to delivering best-in-class...

MacGregor is proud to announce the successful delivery of its new type of SWL 250t electric heavy lift cranes to Nordic from Huanghai Shipbuilding Co., Ltd. The cranes mark a significant milestone in sustainable cargo handling solutions. This next-generation heavy lift crane combines MacGregor and NMF’s extensive experience in the heavy lift industry. Advanced electric drive technology The crane is designed to enhance operational efficiency while significantly reducing emissions, energy...

ClassNK has granted its Innovation Endorsement for Products & Solutions to the maritime cybersecurity solution, ‘CYTUR TM’ and ‘CYTUR SC-P’ (components of Rakuten Maritime) developed by Rakuten Symphony and its partner company CYTUR. In order to promote the spread and development of innovative technologies, ClassNK has offered Innovation Endorsement for Products & Solutions. ClassNK supports the deployment of products and services through third-party certificatio...

ClassNK has issued an approval in principle (AiP) for the design concept of a retrofitted Kamsarmax bulk carrier, converting it from conventional fuel to methanol dual-fuel, jointly developed by Tsuneishi Shipbuilding Co., Ltd. and Fonden Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping. This certification demonstrates the regulatory feasibility of the ship, serving as a meaningful step in advancing the transition of the existing fleet to alternative fuels, as bulk carriers o...

Evidence that verifies the advantages of GravityVibe has been accumulating quickly since MacGregor introduced the augmented gravity self-unloading system to the market in February 2024. Developed to allow bulk carriers to deliver a wider variety of cargo in greater volume, GravityVibe eases the discharge of coarse materials from cargo holds. MacGregor’s decades-long experience MacGregor’s system can discharge various cargo types with slope angles of just 15–20 degrees In co...

Baltic Exchange has launched the maritime industry’s first-ever free Fuel Equivalence Converter, a reliable, easy-to-use digital calculator that helps owners, traders, brokers and charterers to navigate the complexity of the physical properties of the wide variety of marine fuels that are currently available on the market.  The Fuel Equivalence Converter is the latest resource provided by Baltic Exchange to help shipping players understand the cost and commercial implications of gree...

The University of Osaka (President: Atsushi Kumanogoh), in collaboration with Imabari Shipbuilding Co., Ltd. (President: Yukito Higaki, 'Imabari Shipbuilding'), Japan Marine United Corporation (President: Takashi Hirose, 'JMU'), Nippon Kaiji Kyokai (President & CEO: Hayato Suga, 'ClassNK'), and MTI Co., Ltd. (President: Hideki Suzuki, 'MTI') will establish the Open Collaboration Laboratory for Enabling Advanced Marine Systems (OCEANS) at the Techno Alliance Building within the Graduate Schoo...

Increasing demand from shipowners for ABS services in Singapore has prompted ABS to invest in an expanded regional head office housing industry-pioneering research and development capabilities. The opening ceremony was prefaced by a traditional lion dance and reception, which saw ABS Chairman and CEO Christopher J. Wiernicki cut the ribbon on a facility that is home to the ABS Singapore Innovation and Research Centre, the ABS Global Electrification Centre and one of five ABS Global Sustain...

Eni, an energy company, Fincantieri, a world pioneer in complex shipbuilding, and RINA, a multinational group specialising in engineering consultancy, certification, and inspection, presented the “Sustainable Maritime Transport Outlook” in Rome — in the presence of the Minister for the Environment and Energy Security, Gilberto Pichetto Fratin. The study, focused on the maritime sector, was developed with the technical support of Bain & Company Italy. Net Zero target for 2...

The Republic of the Marshall Islands (RMI) Registry’s long-term and consistent commitment to high-quality shipping continues to be recognised by the international community. At INTERTANKO’s North America panel meeting held in Stamford, Connecticut, the United States Coast Guard (USCG) presented QUALSHIP 21 qualifying jurisdictions for this year. For the 21st consecutive year, the RMI remains a qualifying jurisdiction. The RMI is the only of the world’s three largest registries...

American Bureau of Shipping (ABS) and the Singapore Institute of Technology (SIT) signed a memorandum of understanding (MOU) at Singapore Maritime Week to advance innovations in applied research in maritime technology and enhance talent development within the global maritime and offshore industries. The collaboration advances applied research in next-generation vessel system design, including ship power simulations with hardware-in-the-loop, shore-to-ship charging technologies, and augmented an...

The world’s first commercial-use ammonia-fueled vessel, Sakigake, has successfully completed a three-month demonstration voyage, during which the vessel engaged in tugboat operations in Tokyo Bay and achieved a GHG-emission reduction of up to approximately 95%. The vessel was completed by Nippon Yusen Kabushiki Kaisha and IHI Power Systems Co., Ltd., in cooperation with Nippon Kaiji Kyokai as part of a Green Innovation Fund Project under Japan’s New Energy and Industrial Technology...

Fincantieri and TUI AG signed a Memorandum of Agreement (MoA) for the design and construction of two new cruise ships for the Marella Cruises brand. The value of this agreement, subject to financing and other typical terms and conditions, is considered as very important. This agreement represents a major step for Marella Cruises, which is venturing into newbuilding for the first time and has chosen Fincantieri as its strategic partner for this transformation....

Achilles, a pioneer in supply chain risk management solutions, and Procureship, the world’s pioneering e-procurement platform, have agreed on a long-term partnership to enhance the ESG capabilities of the shipping industry’s procurement processes.  The latest agreement will bring efficiencies to the supply chain assessment and purchasing process for Procureship members. Procureship provides streamlined purchasing for more than 100 fleet owners and operators, including BW LNG, A...

The Industry Associations of BIMCO, ICS, IMCA, INTERCARGO, INTERTANKO & OCIMF, supported by over forty maritime stakeholders, have released a consolidated and enhanced publication, Best Management Practices (BMP) for Maritime Security (MS). As an interactive online publication, BMP Maritime Security consolidates previously published regional publications into a single, comprehensive publication with actionable insights and advice. It focuses on providing a threat and risk management pr...