Maritime Emissions Reduction Center Launched in Athens
The Lloyd’s Register (LR) Maritime Decarbonization Hub is collaborating with five leading shipowners as founding members in the establishment of a not-for-profit Athens-based global Maritime Emissions Reduction Center (M-ERC) that will focus on optimizing the efficiency of the existing fleet.The M-ERC is being created with the goal of removing technical, investment and community barriers for the uptake of solutions to reduce the greenhouse gas (GHG) emissions of the existing global fleet…
Workboat Power: Alternatives Join Diesel to Power Current—and Future—Vessels
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years. In its September, 2023 report “Beyond the Horizon: View of the Emerging Energy Value Chains”, the American Bureau of Shipping (ABS) explains that, “During the recent 80th meeting of the Marine Environment Protection Committee (MEPC 80)…
US Coast Guard Awards Golden Ray Responders
The US Coast Guard presented public service awards to maritime partners for their actions during the Golden Ray capsizing and subsequent response during a ceremony at the Southeast Georgia Conference Center.The public service awards recognized each individual’s commendable actions that resulted in the preservation of life and mitigation of environmental hazards and economic impacts during the Golden Ray capsizing and grounding in St. Simon's Sound, Georgia, on Sept. 8, 2019.Rear Adm. Douglas Schofield, commander, Coast Guard Seventh District, and U.S.
Digitalization: Maritime Charts its Course
Maritime players plotting pathways to data collaboration with digital projects in line with new BV-backed research study.Digital technologies are increasingly being leveraged by shipping players to facilitate data collaboration among different actors in areas like ship design, vessel performance and port calls as a new Thetius research study backed by Bureau Veritas (BV) shows this will be vital to drive decarbonization, an OrbitMI-hosted panel heard at the recent Shipping Insight event in the US.“Data-powered…
Making Hydrogen Work: Demo Project in San Francisco Port
Hornblower Energy LLC, in partnership with the Port of San Franciso, the U.S. Department of Energy and six corporate partners, including Air Liquide and Glosten, is leading a project to demonstrate the feasibility and viability of using hydrogen (H2) as a maritime fuel.The project is located at Pier 68 in San Francisco. DOE selected the project for funding in 2020. It’s supposed to be completed in 2025 but there are important decision dates before then. So far, project activities have concentrated on planning and modeling.
Maritime Partners Acquires Maersk's USMMI
Maritime Partners, a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited.USMMI owns and operates U.S. flag vessels—including one owned maritime support vessel, three owned tankers, and one bareboat chartered tanker—for charter to the U.S. Navy's Military Sealift Command. It also performs operation and maintenance of U.S. government-owned vessels, and currently has one O&M contract supporting U.S.
Interview: Dave Lee, Maritime Partners
Dave Lee recently joined Louisiana-based maritime leasing and financing company Maritime Partners as its new vice president of technology and innovation. A well-known figure in the U.S. maritime sector, Lee has previously held leadership positions at ABB, American Commercial Barge Line (ACBL) and Jeffboat. His next task: help guide one of the nation’s leading maritime companies through the next chapter of technological advancement.“Right now, every marine company around the globe…
Interview: Mike Complita, Elliott Bay Design Group
Mike Complita is going on 30 years in the maritime industry. Complita started work at Elliott Bay Design Group (EBDG) as an intern while attending the University of Washington in his hometown, Seattle. “And since that time, I've served in pretty much every role, from a technical and project management standpoint, all the way up to principal of our organization,” he said. Today, as Principal in Charge and VP of Strategic Expansion, Complita works alongside EBDG’s other principals to help guide the firm’s project managers…
Maritime Partners Buys AMSC's Jones Act Tanker Fleet
New Orleans-based Maritime Partners has reached a deal to acquire AMSC subsidiary American Tanker Holding Company, which owns a fleet of 10 Jones Act tankers.Maritime Partners' newly formed Project Merchant Acquisition arm signed a share purchase agreement with Oslo-listed AMSC to acquire AHTC for an enterprise value of $746.7 million. AMSC will receive $249.3 million in gross cash proceeds from the sale.The transaction is expected to close on or before October 31, 2023, subject to certain closing conditions and AMSC shareholder approval.ATHC…
AMSC Sells Tanker Business
American Shipping Company (AMSC) has signed a deal with Project Merchant Acquisition LLC, a newly-formed company owned and controlled by a fund managed by Maritime Partners, for the sale of its subsidiary American Tanker Holding Company.Pål Lothe Magnussen, CEO of AMSC, said: “The management team at AMSC is pleased that a Maritime Partners managed fund, a leading Jones Act leasing company, is acquiring our Jones Act business. We believe this is the ideal new owner of this business for the next phase in the lifecycle of these assets.
Dave Lee Joins Maritime Partners as VP of Tech and Innovation
Dave Lee has joined Louisiana-based maritime leasing and financing company Maritime Partners as its new vice president of technology and innovation.Lee joins Maritime Partners from ABB, where he was most recently vice president of sales for the workboat sector. A 20-year maritime industry veteran, Lee has previously held leadership positions at American Commercial Barge Line (ACBL) and Jeffboat.
Future Fuels: Methanol
Any commentator on the maritime business decarbonization voyage will offer something along the lines of "There will be multiple fuels…" With the International Maritime Organization (IMO) meetings of its Maritime Environmental Protection Committee (MEPC) set for early July, it is likely that targets for emissions will be tightened. Whatever mileposts that the IMO actually establishes, there will be no prescriptions handed down on how to get there. By mid-2023, nearly two years after the late 2021 alternative fuels crescendo in the aftermath of the COP26 meetings in Glasgow…
First Methanol-to-fuel-cell Power Chain Demonstrated
As part of the validation of Maritime Partners, LLC’s M/V Hydrogen One inland pushboat, hydrogen fuel cell supplier PowerCell Group and methanol-to-hydrogen technology pioneer e1 Marine in partnership with RIX Industries have conducted a successful string test of their respective technologies for a 200kW propulsion chain. This chain can be multiplied and scaled to a megawatt level.The result of the test proves the viability of a unique concept that takes methanol fuel and converts it to hydrogen onboard ships before using the hydrogen in a fuel cell to generate power cleanly and efficiently.
Maritime Partners Announces $235.3 Million Securitization
Maritime Partners, a provider of maritime financing solutions primarily focused on Jones Act vessels, has announced the successful completion of the inaugural capital markets issuance of vessel asset-backed securities (ABS) by MP 2023 LLC, its controlled affiliate. This transaction was the first ABS issuance composed entirely of inland marine vessels.MP 2023 LLC issued an aggregate principal amount of $235.3 million of its MP 2023-1, Class A Notes, with a coupon of 7.167% over an expected 7-year term.
Hurtigruten Unveils Zero-Emission Cruise Ship
Cruise operator Hurtigruten Norway has unveiled early concept plans for its first zero-emission ship.Initially announced in March 2022, under project name ‘Sea Zero,’ the ship is being touted as "the world’s most energy-efficient cruise ship". Tasked with developing energy-efficient and carbon-neutral technology solutions, Hurtigruten Norway and its consortium of 12 maritime partners and research institute SINTEF shared key findings following its first year of research."When we initially announced the ‘Sea Zero’ project over a year ago…
Powering the North American Maritime Fuel Transition
Offshore service vessels, along with workboats serving harbors and inland rivers, have embarked on an industry-wide voyage toward reduced emissions of greenhouse gasses. Professor Craig Philip, a faculty member with Vanderbilt University’s Center for Transportation and Operational Resilience (VECTOR) and former CEO of Ingram Barge Company, provides this context: “The Maritime Sector has long provided shippers with the most fuel-efficient and sustainable freight transport option…
Insights: Mike Ellis, CEO, American Commercial Barge Line
There is no shortage of challenges confronting the U.S. barging industry, and executives such as Mike Ellis, CEO at American Commercial Barge Line (ACBL), are leading their companies past hurdle after hurdle. The Jeffersonville, Ind.-based company, which owns a fleet of approximately 150 towboats and moves a fleet of some 4,500 barges (including roughly 3,500 operated by ACBL), is focusing on factors it can control while planning and investing for the future.The weatherMother Nature is often unkind to the barging industry.
Telenor Maritime Partners with Globetech
Telenor Maritime has entered into a collaboration agreement with Globetech AS in a move intended to strengthen potential for business development and provide greater market access for both partners.Globetech is a provider of ICT technology and services for vessels and floating offshore installations worldwide. Its expertise in delivering safe and reliable infrastructure solutions and ICT services for the maritime and offshore industries complements Telenor Maritime’s portfolio of connectivity solutions.
'Hydrogen Hubs' to the Fore
The path to decarbonization is defined by partnership and fueled by government funding. This month we examine the players, partnerships, and evolution of Hydrogen Hubs in the Gulf of Mexico.The Green Shipping Challenge, organized by the United States and Norway at COP 27 held in late 2022, brought about dozens of announcements on maritime decarbonization. Among these was a joint statement from the Blue Sky Maritime Coalition (BSMC) – a consortium of North American shipowners and…
2023 US Shipbuilding Report
Much has changed since Marine News’ 2022 shipbuilding report published in March last year, and business opportunities in certain market segments continue to grow. But the shipyards that are looking to cash in are still facing many of the same challenges.For example, many American shipyards and their partners throughout the shipbuilding supply chain are still finding it difficult to attract and retain the workers they need. If you’re a skilled craftsperson looking for a job in shipbuilding, you’re in luck, because there are plenty of openings at shipyards across the country.
Interview: Jennifer Carpenter, AWO
Jennifer Carpenter has been president and CEO of The American Waterways Operators (AWO) in January 2020, but her time with the national trade association representing the inland and coastal tugboat, towboat and barge industry dates back to 1990. This month, she weighs in on top challenges and opportunities currently present in the industry, from difficult regulatory changes to the uptake of cleaner vessel technologies.What are some of the biggest and most important issues facing the tug, towboat and barge industry?Big picture, I feel like our industry has never been more relevant.
Insights: Robert Schluter, e1 Marine
Robert Schluter served as an officer as part of the marine engineering team on board the U.S. Navy guided missile destroyer USS Mahan DDG-42 out of Charleston before transitioning to the business world and “general, corporate type work”. Today he serves as managing director at the third startup he’s helped build, e1 Marine.The company, a joint venture between Louisiana-based marine equipment lessor Maritime Partners, Irish tanker owner Ardmore Shipping and Schluter’s second startup…
Tanker Helps Rescue Overdue Boaters off US East Coast
A Hong Kong registered tanker assisted in the rescue of two men adrift in a sailboat off the U.S. East Coast.On Sunday, watchstanders at the U.S. Coast Guard Fifth District command center were notified of an overdue sailing vessel, Atrevida II, which was sailing from Cape May, N.J. to Marathon, Fla. The two men aboard, 65-year-old Kevin Hyde and 76-year-old Joe Ditomasso, were last in contact with family and friends on December 3, when they departed Oregon Inlet, N.C. The Coast Guard began urgent marine information broadcasts and direct communication with commercial vessels in the area in an attempt to locate the Atrevida II. A search effort was launched, involving multiple Coast Guard aircraft and cutters, vessels from the U.S.