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Thursday, March 28, 2024
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Assurance News

12 Mar 2024

German Shipowners Seek Clarity from Berlin on Carbon Trading

© enanuchit / Adobe Stock

German shipowners' group VDR on Tuesday urged the Berlin government to provide legislation implementing European Union requirements to include the sector in the bloc's carbon trading system.The government is behind in transforming an EU agreement late in 2022 to require shipowners to buy EU carbon permits to trigger investment in greener technologies, into national legislation, VDR said at its annual press conference."For us, the cornerstone of our operations is not only planning certainty but also the assurance of uniform competitive conditions on an international scale…

04 Mar 2024

Port of Long Beach Opens New Fireboat Stations

(Photo: Port of Long Beach)

Officials dedicated two new Port of Long Beach fireboat stations that are enhancing the Long Beach Fire Department’s waterside and landside emergency response capabilities, better safeguarding visiting ships, cargo and waterfront workers.The facilities – Fireboat Station 15 and Fireboat Station 20 – are the products of a $109 million Port of Long Beach program to preserve business continuity, security and economic interests. With an anticipated lifespan of 50 years, both stations…

28 Feb 2024

Swedbank Adopts Poseidon Principles

Source: Swedbank

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

22 Feb 2024

DESMI’s Aquaculture Treatment Systems Validated by DNV

Source: DESMI

DESMI has secured third-party validation for the effectiveness of its aquaculture UV treatment systems from DNV.This development moves beyond the traditional certification provided by the Norwegian Veterinarian Institute (NVI) which verifies UV doses of at least 25 mJ/cm2. With many aquaculture operations requiring higher UV doses, typically ranging from 70 to 200 mJ/cm2, DESMI says its validation from DNV provides a much-needed layer of credibility and assurance.Historically…

15 Feb 2024

Call for IMO to Resolve Inconsistencies in Ship Recycling Conventions

© saintmichel85 / Adobe Stock

BIMCO, Bangladesh, India, Norway, Pakistan and the ICS have submitted a paper ahead of the 81st Marine Environment Protection Committee (MEPC) meeting on March 18-22 that highlights the need to resolve possible conflicts between the Hong Kong Convention and the Basel Convention.The Hong Kong Convention will enter into force on June 26, 2025, and the co-signatories of the paper ask for clarification and assurance that shipowners and parties operating in compliance with the Hong…

13 Feb 2024

Stena Bulk Inks Deal for Four Additional Newbuild Tankers

Erik Hånell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest 8th generation MR tanker design, which has been recognized for its excellent efficiency performance.The tankers will feature efficient fuel consumption systems…

08 Feb 2024

DNV Updates ‘Go-To Standard’ for Offshore Energy Operations

© Zacharias / Adobe Stock

DNV has published a substantial revision to the ‘go-to standard’, DNV-ST-N001, for the design and planning of marine operations for the transport, installation and removal of offshore wind farms, subsea cables and oil and gas assets.The new major changes reflect the changing nature of the offshore industry in line with its support of the energy transition, ensuring that the standard remains relevant and supports the development of cost-effective marine operations during a fast-evolving energy transition.DNV…

07 Feb 2024

US, UK Ship Investors Hit by Soaring Red Sea Insurance

© sandsun / Adobe Stock

War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen's Houthis, sources said.Attacks by the Iran-aligned Houthis since November have slowed trade between Asia and Europe and alarmed major powers. The Houthis say they are acting in solidarity with Palestinians as Israel's war against Hamas militants in Gaza…

21 Jan 2024

Ship Recycling: Few Sales Confirmed

Source: GMS

In its Week 3 market report, cash buyer GMS says that even as vessel prices have improved from the lows seen towards the end of 2023 and plate prices made a massive jump in Bangladesh over the last couple of weeks, only a trickle of sales have been confirmed into the recycling markets in 2024 thus far.“There also seems a reluctance from ship owners to bite at current offers in the low USD 500s/LDT, having seen levels around USD 100/LDT higher only a couple of quarters ago. Mercifully…

18 Jan 2024

IACS Adopts New Unified Requirement on Ammonia Releases

© vchalup / Adobe Stock

The International Association of Classification Societies (IACS) has developed a Unified Requirement (URH1) covering the release of ammonia from the onboard systems for bunkering, storing, preparing and using ammonia as fuel.IACS URH1 aligns with the Recommendations from U.S. National Institute for Occupational Safety and Health (NIOSH) and establishes that an ammonia concentration of 300 ppm or more is immediately dangerous, and a concentration of 25 ppm or more is dangerous if the exposure is longer than eight hours.Additionally…

07 Jan 2024

Provaris Engages DNV for H2Neo Carrier Tank Review

Illustration of Prodtex’s robotic cell for the construction and testing of the prototype tank (Source: Provaris)

Provaris Energy has engaged DNV for the review and approval of its H2Neo carrier's proprietary hydrogen cargo containment system.Prototype tank construction and testing remains on track to commence in Q1 CY2024 with completion expected by the end of Q2 CY2024. Additional parties involved in the work program located in Norway include Prodtex for construction and SINTEF for prototype testing and reporting.Construction will include the use of two laser welding robots, one material handling robot, and a scalable, custom hydraulic jig that will be employed during construction.

20 Nov 2023

Insights: Frank Manning, President & COO, Diversified Marine, Inc.

Frank Manning, President & COO, Diversified Marine, Inc. (Photo: Diversified Marine, Inc.)

Frank Manning has quickly risen through the ranks during his eight years in the shipyard business, today serving as president and COO at Diversified Marine, Inc. (DMI) in Portland, Ore. Crucial along the way has been a passion for the business itself and the people that make it all possible.“The first day I walked in a shipyard I knew that I was in the right industry,” Manning said. “DMI has always been a relationship-based business. All of our customers are close friends, and we have relationships that are second to none,” he said.

09 Nov 2023

Australian Government Supportive of Strategic Fleet Development Proposals

© Philip Schubert / Adobe Stock

The Australian Government has released the report of the Independent Taskforce on the Strategic Fleet, along with its official response to the report, confirming a commitment to delivering a Strategic Fleet of up to 12 vessels that will help Australia build resilience to freight disruptions while supporting our maritime workforce and sovereign capability.Australia’s maritime sector has long been neglected with a shortage of Australian flagged ships and a skilled workforce, says Federal Minister for Infrastructure…

26 Oct 2023

Ocean Freight Shipping: Rough Seas Ahead, But Growth Still on the Horizon

Stanley Smulders talks to Patrik Berglund about the challenges in ocean freight shipping and whether index-based pricing could be the solution - Credit: Xeneta

The Xeneta Summit has heard the ocean freight shipping industry will find new ways of working together in the face of a volatile market.Stanley Smulders, Director of Marketing & Commercial at Ocean Network Express (ONE), took part in a keynote Q&A with Xeneta CEO Patrik Berglund during the Summit in Amsterdam this week to discuss the major challenges facing the industry.While there are rough seas ahead, Smulders maintains growth is still on the horizon.He said: “The current market is at best volatile…

12 Oct 2023

John Rowley Appointed Next CEO of Wallem

John Rowley courtesy of Wallem Group.

The Board of Directors of Wallem Group have announced that John-Kaare Aune will be stepping aside as Wallem Group’s CEO and after a period of transition will leave in January 2024.The Wallem Board has appointed John Rowley to succeed him, with effect from January 1, 2024. Rowley is currently Senior Vice President Global Food and Transportation Divisions at NSF, prior to which he was CEO SAI Global Assurance following eight years on the executive team at the Lloyd's Register Group…

12 Oct 2023

Britain Sends Auxiliary Ships, Spy Planes to Support Israel

© penofoto.de / Adobe Stock

British Prime Minister Rishi Sunak is deploying two Royal Navy ships and surveillance aircraft to the eastern Mediterranean to support Israel and reinforce regional stability, his Downing Street office said on Thursday.The military package, which includes P8 surveillance planes, other surveillance assets, two auxiliary ships, three Merlin helicopters and a company of Royal Marines, will be on standby in the region to provide "practical support to Israel ...

25 Sep 2023

DNV and Light Structures in Structural Health Monitoring and Digital Twins Partnership

From left: Niklas Hallgren, CEO at Light Structures and Brice Le Gallo, Vice President and Regional Director for Energy Systems, APAC, DNV

Independent energy expert and assurance provider DNV and Light Structures AS, a supplier of fiber optic condition monitoring systems based on Fiber Bragg Grating (FBG) technology, have signed a Memorandum of Understanding (MoU) to cooperate on the development of new methodologies and solutions at the intersection of structural health monitoring and digital twin functionalities.

20 Sep 2023

Remote Operations: Challenges & Opportunities

Image courtesy Harvest Technology Group

Digitalization in the maritime industry continues to grow. Technology is constantly evolving, providing organizations with new ways to transform and manage their operations with adoption of technology creating first-mover advantage and future relevancy, and positivity impacting margins. The offshore services industry has been a major driver in the trend towards utilization of remote inspection and monitoring technology for Inspection, Repair, and Maintenance (IRM) of critical assets and infrastructure.

29 Aug 2023

Savage Takes the CTO Seat at Silverstream

Catriona Savage, Chief Technology Officer, Silverstream Technologies. Image courtesy Silverstream Technologies

Silverstream Technologies appointed Catriona Savage into the newly created position of Chief Technology Officer (CTO). Savage will lead the continued development of the innovative Silverstream System and will further develop the technical centre-of-excellence built by Silverstream Technologies. The new role will lead on Product Development and Application Engineering and all aspects of product quality, safety and performance.Savage joins Silverstream following a career at BMT as Technical Assurance and Capability Director…

24 Aug 2023

Titan and 123Carbon Partner on Carbon Insetting

Source: Titan

Fuel supplier Titan and 123Carbon, the first independent blockchain-based carbon insetting platform for the transport sector, have issued what they claim is the first LNG-based carbon insets.Carbon insetting enables fuel suppliers and vessel operators to transfer the environmental benefits of clean, lower carbon intensity fuels throughout the maritime value chain, enabling decarbonisation within their own supply chains. This contrasts with offsetting where the environmental benefits are made given to other industries or ventures.There are…

28 Aug 2023

Offshore Wind: US Shipbuilders Answering the Call

From left to right: Lasse Petterson, CEO of Great Lakes Dredge and Dock; Rep. Mary Gay Scanlon, D-Pa.; President Joe Biden; and Steinar Nerbovik, CEO of Philadelphia Shipyard (Photo: Philly Shipyard)

It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval contract that gave a welcome boost to the Wisconsin shipyard and its supply chain partners. Most recently, President Biden traveled to Philadelphia’s Philly Shipyard…

15 Aug 2023

Decarbonisation Group's Biofuel Bunkering Trial Finds Sharp Drop in Emissions

Credit: GoodFuels FincoEnergies

The Global Centre for Maritime Decarbonisation (GCMD) found carbon emissions fell 83% using a vegetable oil biofuel blend compared with marine gasoil in a trial for a dual-fuel liquefied petroleum gas (LPG) carrier, the center said on Tuesday.This was the third of five supply chain bunkering trials that the GCMD has undertaken as part of an $18 million project to test different biofuel blends to reduce carbon emissions. The trials are key to helping the fuel and shipping industries…

05 Jul 2023

NYK Joins Global Centre for Maritime Decarbonization

Lycaste Peace (Source: NYK)

The Global Centre for Maritime Decarbonisation (GCMD) and Nippon Yusen Kabushiki Kaisha (NYK) have announced the signing of a five-year Strategic Partnership agreement.The partnership boosts the center's efforts to conduct pilots and trials of low-carbon solutions for the global shipping industry.Japan is one of the top three shipowning countries in the world, and Japanese merchant vessels account for around 11% of world tonnage. Numbers from Clarksons Green Transition Team further indicate that Japan leads other nations in alternative-fuel-ready vessel orders…