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Initiative Launched News

21 Dec 2023

Shipping Industry in the Dark Over US-led Red Sea Navy Force

(Photo: Samantha Alaman / U.S. Navy)

Shipping companies remain in the dark over a new international navy coalition being assembled by the United States to combat attacks in the Red Sea, with many vessels continuing to avoid the area or cancelling contracts, sources said on Wednesday.The sources, who include shipping and maritime security officials, say few practical details are known about the initiative launched on Tuesday by Washington or whether it will directly engage in the event of further armed attacks at sea.Iran-backed Houthi militants in Yemen have since Nov.

21 Nov 2023

Committed Owners Supporting Green Financing Landscape

Erlend Sommerfelt Hauge, Co-Founder and Managing Partner, oceanis

Hamburg-based ship finance platform oceanis’s Q4 State of Ship Finance Report comes with a thank-you to shipping companies that are committed to the green transition.Over the past decade, oceanis has seen large changes to the ship financing landscape towards greener projects. The most obvious green financiers are the Poseidon Principles banks, the initiative launched in 2019 whose signatories manage 70% of the world’s shipping loans. At the same time, many other banks and funds are moving away from financing ‘brown’ assets and trades.

06 Sep 2023

UK Insurers Join Cargo Safety Initiative

Source: Lloyd's Register

Safetytech Accelerator, a non-profit established by Lloyd’s Register, has confirmed that UK maritime insurers, the UK P&I Club and TT Club, have signed up for its Cargo Fire & Loss Innovation Initiative (CFLII).The Initiative, launched in February 2023, is a multi-year collaborative technology acceleration program focused on reducing cargo fires and loss in maritime and its impact. It is already supported by anchor partners COSCO Shipping Lines, Evergreen Line, HMM, Lloyd’s Register…

09 Dec 2021

Chevron's Shipping Unit Joins Initiative to Cut Emissions

Credit: Chevron

Oil major Chevron Corp said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint.Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM, and Bunge, oil majors Royal Dutch Shell and Total, and mining group Anglo American will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals.IMO…

28 Oct 2021

Industry Looks to UN Climate Talks to Steer Cleaner Shipping

© GreenOak / Adobe Stock

World leaders attending COP26 climate talks from the end of the month must ratchet up pressure to make shipping decarbonize by 2050, a senior industry official involved in the meeting said.Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions.U.N. shipping agency the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050. The goal is…

07 Oct 2020

Top Global Traders Push to Cut Shipping Emissions

(File photo: Helge Hansen / Equinor)

Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea, and the UN shipping agency the International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, the latest IMO-commissioned study showed, mounting pressure on the

15 Sep 2020

Sovcomflot Takes Delivery of New LNG Carrier

SCF Barents -  Credit: Sovcomflot

Sovcomflot, a Russian oil and gas shipping company,  has taken delivery of SCF Barents, a new 174,000-cbm LNG carrier.The vessel was delivered Monday and has already started its maiden voyage under a long-term time charter agreement with Shell.According to Sovcomflot, the LNG carrier was named after Willem Barents, a prominent Dutch navigator and explorer. The naming ceremony, held on September 10, was attended by Igor Tonkovidov, President and CEO of SCF Group; Cederic Cremers…

16 Jul 2020

Huntington Ingalls Industries Helping Virginians Get Back to Work

(Photo: HII)

U.S. shipbuilder Huntington Ingalls Industries announced it has signed on to be a business partner of the Virginia Ready Initiative (VA Ready), a new initiative launched in response to the unprecedented impact of the COVID-19 pandemic to help unemployed Virginians across the commonwealth get back to work quickly. VA Ready, in partnership with businesses and Virginia’s community colleges, equips people who are out of work with the required skills for in-demand jobs in high-growth sectors.HII…

25 Nov 2019

DP World Raises $2.3Bln, Rings Nasdaq Bell

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of the global port operator DP World, rang the market-opening bell at Nasdaq Dubai to mark the listings of two sukuks (Arabic name for financial certificates) and two conventional bonds worth $2.3 billion.DP World will use the capital raised for debt refinancing and to fund growth opportunities.The listings, carried out during 2019, comprise two Sukuk of one billion US dollars and 500 million US dollars, and two conventional bonds of 500 million US dollars and 300 million US dollars.Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “Our debt issuances this year were well received in the market by a wide variety of investors in the region and around the world…

19 Nov 2019

Rhenus-Arkon-Shipinvest Orders 4 Vessels

German shipping company Rhenus-Arkon-Shipinvest has placed orders for the first four environmentally-friendly vessels known as Hanse Eco Short Sea Coasters.The short sea bulkers are expected to be delivered during the second half of 2021, with the construction work scheduled to begin in February 2020.The vessels are based on the latest developments related to environmental protection, digitization and design.The ‘Hanse Eco’ fleet is the result of an initiative launched by Torsten Westphal, one of the founding members of Arkon Shipping. Developing a future-oriented short sea fleet provides a sustainable solution for shipbuilding that is designed to meet specific needs – and this work is taking place with its partner Rhenus…

29 Oct 2019

Eni-led Group to Build Wave Power Stations

Italian oil group Eni is joining forces with shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The agreement, which follows the understanding signed last 19 April, will launch the first phase of a joint project to convert the Inertial Sea Wave Energy Converter (ISWEC) pilot project, an innovative system that transforms energy generated by waves into electricity, into an industrial scale power station, making its application and use immediately available.The partnership agreement will focus on two phases: during the first phase, the companies will develop a business model and define a deployment plan for Italy.

14 Oct 2019

Rotterdam Port Joins Noah's Train

The Port of Rotterdam Authority has announced that it has participated in ‘Noah’s Train’ as part of the Rail Freight Forward (RFF) initiative, a collaborative effort to cut freight transport emissions by 30% by 2030.The longest mobile work of art and ambassador of the RFF initiative, Noah’s Train, is an initiative launched by several European railway companies to promote freight transport by rail. Gathered in the Rail Freight Forward coalition, they defend a common goal: reducing the environmental impact of freight transport in Europe.The colourful train with 19 painted wagons arrived at APMT terminal on Rotterdam Maasvlakte following a tour of Katowice…

10 Dec 2018

Ship Recycling Transparency Initiative Launched

Industry leaders and non-profit the Sustainable Shipping Initiative announced the launch of the Ship Recycling Transparency Initiative’s (SRTI) online platform - a tool for sharing information on ship recycling to drive responsible practice.According to a press release, the platform comes nine months after a group of shipping companies first announced their collective effort to use the market-drivers that transparency brings to make responsible ship recycling the norm. Demanding transparency holds the shipping industry to account, raising the bar for current practice as well as creating fair competition among ship-owners.In 2017, 835 ships were recycled out of a world fleet of 50,000.

06 Oct 2017

DMCA Briefs ‘Sea Dubai’ Initiative

Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) praised the ‘Sea Dubai’ initiative launched by the Dubai Maritime City Authority (DMCA). He described the initiative as instrumental to leveraging the cooperation between key stakeholders in the maritime business in public and private sectors towards boosting the competitiveness of Dubai as a prominent global maritime leisure destination. Receiving Amer Ali, Executive Director of Dubai Maritime City Authority, Al Tayer stressed the importance of making concerted efforts for the success of ‘Sea Dubai’ initiative, which lays solid foundations for boosting the competitiveness of Dubai in the global marine marketplace.

05 Nov 2016

Shoreham Port Ensures Night Navigational Safety

Shoreham Port has been working closely with the local angling community and the Local Independent Sea Anglers (LISA) to improve navigational safety for vessels entering the Port at night. vessels entering the Port. The change follows feedback from vessel Masters, highlighting that bright lights are blinding their vision as they approach the harbour entrance. Using a blue light significantly reduces this issue and helps vessel Masters identify anglers as they approach the harbour. During a meeting in October, LISA expressed their full support of the blue light initiative and are encouraging their members to adhere to the new request. LISA has around 200 members in the Sussex area and a number of the members are regular users of the West Breakwater.

09 Jun 2016

FMC Chairman Addresses US-China Regulatory Issues

FMC Chairman Cordero (center) co-led US Delegation to US-PRC Bilateral Maritime Consultations in Los Angeles, June 2016 (Photo: Eric Shen, USDOT)

Consolidation of shipping lines, realignment of carriers alliances, environmental improvements in the shipping industry and achieving supply chain efficiencies were all among topics addressed during the U.S.-China Bilateral Maritime Consultations held in Los Angeles last week. Federal Maritime Commission (FMC) Chairman Mario Cordero co-headed the U.S. delegation to the meeting with Deputy Maritime Administrator Michael Rodriguez. The consultations are organized by the Maritime Administration and the Chinese Ministry of Transportation and take place on a regular basis.

22 Mar 2016

Pentair to Help Reduce, Reuse, Recover Water

Pentair, a global leader in creating sustainable water solutions, announced today its commitment to open two Application Centers dedicated to helping municipal, industrial and commercial companies better manage water use. The commitment is being announced in conjunction with Pentair's participation at the White House Water Summit, taking place today in honor of the United Nations' World Water Day. The Summit brings together public and private companies in an effort to catalyze ideas and actions to help build a sustainable and secure water future through innovative science and technology. "As the world's growing population puts increasing demands on our precious water resources…

01 Mar 2016

Volvo Penta’s Kull a Top Woman in Manufacturing

Marcia Kull (Photo: Volvo Penta)

Marcia Kull, vice president of marine sales for Volvo Penta of the Americas, has been selected by the Manufacturing Institute as one of the top women in U.S. manufacturing for 2016. Kull and the other honorees will be recognized at the fourth annual Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Award at a gala dinner April 21 in Washington, D.C. The STEP Ahead Awards celebrate those women who have demonstrated excellence and leadership in their careers in all levels of the manufacturing industry, from the factory floor to the C-suite.

21 Dec 2015

Swedish Shipping Joins Fossil Free Initiative

The Swedish Shipowners Association has expressed its disappointment that shipping was not included in the new climate agreement that was struck in Paris by countries represented at the United Nations Framework Convention on Climate Change. They believe that delegates in Paris failed to seize the moment to make a direct statement to the shipping industry about its commitments, and that more needs to be done to tackle the climate challenge. The Swedish shipping industry has one of the best track records of positive involvement in the development of innovative environmental solutions, and this will continue despite the Paris Agreement lacking a direct mention of shipping.

06 Nov 2015

Global Terminal Operators Go Green

Thousands of port employees around the world have enthusiastically contributed their time and effort to a joint environmental initiative launched by marine terminal operators DP World, Hutchison Port Holdings Limited (HPH), APM Terminals, PSA International and Shanghai International Port Group (SIPG) – five of the world’s largest port operators, and joined by the Port of Rotterdam Authority (PRA). The week-long campaign from 14 to 21 September entailed joint activities to pioneer a green drive across operations worldwide, while bringing sustainable change to the communities they impact. In unifying their global resources to realise environmental benefits, the port operators developed various initiatives around three main themes: reuse and recycle, climate change and the community.

17 Feb 2015

Vietnam Seeking Private Investment in Ports

Cai Mep International Terminal (Photo courtesy of Maersk)

Vietnam's Ministry of Transport is seeking private sector investment for construction of seaports, Vietnam Briefing reported last week. The Vietnam Maritime Administration will announce a list of 42 maritime infrastructure projects, including 18 seaports, looking for private investment, said Do Duc Tien, Deputy Chief of the Vietnam Maritime Administration. The privatization of Vietnam's ports is part of an initiative launched in April 2014 to privatize an estimated 432 state-owned enterprises between 2014 and 2015.

18 Nov 2014

First LNG Fuelled Tug for Middle East by Wärtsilä

Drydocks World (DDW) based in Dubai, UAE, has contracted Wärtsilä to design and supply the propulsion and other equipment for a new harbour tug that will operate on liquefied natural gas (LNG). This will be the first harbour tug in the Middle East region to operate on gas. The order was signed in November. The 29-meter-long tug is the first of a series of nine such vessels to be built and operated by DDW. The project is part of a green initiative launched by the Dubai government, and is intended to set an example for promoting environmental sustainability throughout the region. "We are happy to work with Wärtsilä to promote a green image for our harbour work. Wärtsilä is a solution provider with vast experience and expertise in gas fuel systems.

22 Oct 2014

Pink Lashings Raise Money for Breast Cancer Research

Photo: Peters & May

As the first Peters & May Pink Lashings shipment leaves Palma for Fort Lauderdale, the global marine transport company is calling all yacht owners to support its campaign to help raise £25,000 for the charity, Breast Cancer Clinical Trials (BCCT). The initiative, launched this October in Breast Cancer Awareness Month, gives yacht owners using Peters & May the option to have specially manufactured pink lashing straps in support of the charity when their vessel is secured for transportation.

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