Gensets: New Fuels but Perennial Goals
Fuel flexibility may be a key driver for recent developments in gensets, but the perennial goals of lowering CapEx and OpEx remain.Fuel flexibility is one of the pillars of decarbonization that is being embraced by genset OEMs. Fuel efficiency, a second pillar, goes hand in hand with that because new fuels will be more expensive, but these concerns come in addition to the on-going drive to reduce CapEx…
JIP to Advance Offshore Wind Concrete Floater Standards
DNV secured partners to launch a new project to enhance technology development and prepare for scale/industrialization of concrete substructures for floating offshore wind.The new Joint Industry Project (JIP) called Concrete FLOW will optimize requirements for concrete floaters (floating or semisubmersible structures, generally moored to the seabed, used as foundations upon which equipment can be mounted)…
Banga Takes Hong Kong Shipowners Association Helm
Angad Banga of the Caravel Group was elected as new Chairman of the Hong Kong Shipowners Association (HKSOA). He succeeded Wellington Koo, of Valles Steamship Co., Ltd, who stepped down after completing his two-year term as Chairman of the HKSOA.Banga has also taken over the Chairmanship of Asian Shipowners’ Association (ASA) at the same time. Banga’s tenure as Chairman of ASA will come to an end on the day of ASA’s next AGM to be held in Hong Kong on 28 May 2024.
Hahn & Co weighs sale of South Korea's SK Shipping
South Korean private equity firm Hahn & Co is reviewing strategic options for its majority stake in SK Shipping Co, including a sale that could value the company at about $10 billion including debt, Bloomberg News reported on Thursday.Hahn & Co is working with financial advisers as it weighs a partial or full sale of its stake, the report said, citing people familiar with the matter, adding that it was considering other options like selling individual divisions of the Seoul-based shipping compan
Russia Fails to Get Re-elected to the IMO
Russia on Friday failed to win enough votes for re-election to the United Nation's shipping agency's governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body's executive arm.The outcome is another blow for Russia after it failed in its bid to return to the UN's top human rights body in October, in an election seen as a key test…