Corporate News

Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, Head of Regulatory & Public Affairs, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years, as a ‘stakeholder’ simultaneously mindful of the perspectives of owners…

Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly at the time of writing. Moreover, we register an interesting dynamic on the shipowner side, where everyone is trying to position themselves for the impeding market boom.Please note that vessel definitions and abbreviations in this part of our industry can vary…

Damen Naval has selected Kongsberg Maritime Sweden to deliver controllable pitch propellers and shaft lines for the four Anti-Submarine Warfare (ASW) frigates for the Netherlands and Belgium.As part of this contract, Kongsberg will supply four shipsets of its controllable pitch propeller systems and associated equipment including blades, hubcaps, hubs, and shaft lines.The four ASW frigates will replace the current Karel Doorman-class multi-purpose frigates. They will be deployed for a wide variety of tasks, with anti-submarine warfare as their main purpose.

Saudi Arabia’s Ras Al-Khair Special Economic Zone (SEZ) said it is seeking local and foreign investors to help boost the Kingdom’s maritime infrastructure.With an initial area of 20 square kilometers, Ras Al-Khair SEZ, operated by the Royal Commission for Jubail and Yanbu, is an expanding zone with two focus areas, The King Salman International Complex for Maritime Industries and Services, and the Offshore Cluster supply chain. The SEZ is located next to Ras Al-Khair Port, the Kingdom’s newest industrial port.Ahmed M.

A large number of ports across the United States are making headway toward ambitious decarbonization targets, but many are running up against significant challenges that threaten their progress, according to a new report from classification society ABS and trade group the American Association of Port Authorities (AAPA).Financial constraints, low technology readiness and physical space limitations are among key obstacles identified the ABS and AAPA report, "Port Decarbonization Survey: Trends and Lessons Learned"…

A new report offers safety recommendations for ship owners and port authorities seeking to establish green shipping corridors.As the shipping industry continues to make progress toward its decarbonization goals, a number of green shipping corridors are being being set up as maritime routes that help to enable the use of low- and zero-emission lifecycle fuels such as methanol, ammonia and hydrogen, as well as other green technologies. To date, more than 30 green shipping corridors…

Data gathering and transmission for Accelleron’s digital optimization solutions and service agreements will be automated under a new agreement signed by BEMAC and Accelleron’s Japanese joint venture company Turbo Systems United.The MaSSA-One platform has become a core part of BEMAC’s portfolio of ship technologies alongside its power distribution and control systems. The advanced platform collects and stores a wide array of data, including from engines, cargo handling and navigation, and shares the data with shoreside services to provide ship support applications.

MAN Energy Solutions, MAN Energy Solutions USA and Carnival Corporation & plc, the world’s largest cruise company, have signed a service agreement (LTSA) for five of Carnival’s Vista Class cruise ships powered by MAN 48/60CR type engines. The scope of the agreement covers the management of all maintenance, including planning, parts, technical advisory service, training and remote monitoring support. MAN Energy Solutions will manage the agreement via MAN PrimeServ, its after-sales brand.Riccardo Cordara…

DNV has presented HD Hyundai with a general approval for ship application (GASA) for a new high-strength composite hybrid support system for independent tanks on liquefied gas carriers.In a world-first, HD Hyundai’s concept is fabricated with a fusion of carbon fiber-reinforced plastics (CFRP) with a tensile strength 10 times greater than steel, significantly enhancing structural stability.The new system offers robust structural supports, enabling independent tanks to withstand upward force from floatation in case of hold space flooded.

Hans Olav Raen has been appointed CEO of Yara Clean Ammonia effective May 1, 2024.Raen has until now been Business Director and heading OCI’s fertilizers business in Europe. He has more than 25 years of experience in the fertilizer industry, including 12 years with Norsk Hydro and Yara International (between 1997 and 2009), where he held commercial and managerial roles in Europe and Africa.Raen holds a master’s degree from the College of Europe as well as a degree in digital leadership…

ClassNK has carried out a regular reshuffle of its full-time executives, underlining its commitment to charting the maritime industry’s shift through a period of significant transformation. President & CEO Hiroaki Sakashita and Senior Executive Vice President (SEVP) Junichiro Iida continue in their current roles, while Executive Vice President (EVP) Hayato Suga is promoted to SEVP. Additionally, Dr. Toshiro Arima, Masaki Matsunaga, and Dr. Yoshiya Yamaguchi have been appointed as new EVPs.In his remarks…

Offshore wind developer Vineyard Offshore announced that Rick Musiol, Jr. has joined the company as Director of External Affairs and Community Engagement. In this newly created position, Musiol will lead community engagement and corporate citizenship programs everywhere Vineyard Offshore has a presence.“As Vineyard Offshore expands its work on the East and West Coasts, our top priority is to be an active and engaged member of the community,” said Christian Scorzoni, Chief External Affairs Officer for Vineyard Offshore.

ClassNK has granted its SCCS-Full class notation to Evergreen’s Neopanamax container vessel Ever Top.Short for Shipboard Carbon dioxide Capture and Storage-Full, the SCCS-Full notation signifies that the vessel is now equipped with onboard CO2 capture and storage (CCS) systems.This also marks it as the world's first Neopanamax container vessel to be retrofitted with such systems, according to ClassNK.The CCS systems, designed and developed by Shanghai Marine Diesel Engine Research Institute…

Norwegian davit supplier Vestdavit has notched up a new annual sales record for another consecutive year after seeing its order intake surge by 76% in 2023 on high demand from the offshore wind and oil and gas sectors, as well as increased sales in its core naval market.Vestdavit has expanded its market position in offshore wind after both gaining new customers and winning repeat orders with existing clients, including Esvagt and Rem Offshore, with orders in this sector accounting for more than $9.4 million (NOK 100 million)…

Fort Lauderdale, Fla. based maritime and industrial mechanical service repair specialist Advanced Mechanical Enterprises (AME) announced it has appointed Paul Savage as its new Operations Manager.With over 30 years of leadership and project management experience, Savage joins the AME management team from Veolia North America, where he served as Vice President, managing complex industrial and government contracts. At Veolia, Savage was at the helm of commercial, state, and federal contracts…

Asyad Shipping, part of Asyad Group, and Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first ESG (Environmental, Social and Governance) report, in line with the established Global Reporting frameworks.Asyad Shipping, which operates a fleet of 85 vessels including gas carriers, very large crude carriers, product tankers and container ships, is one of the first maritime organisations in the Middle East to publish an ESG report.ESG reporting has become a growing necessity in the shipping sector as environmental concerns…

Three years ago in March, Vuyk Engineering Rotterdam gained full independence, and since then, the company has taken strategic steps to chart its own course and strengthen its independent position within the maritime sector.After the closure of the Vuyk shipyard in Capelle aan den IJssel in 1979, marking the end of all shipbuilding activities, former employees established a new company: Vuyk Engineering and Trading. Founded on the principles of technical know-how combined with experience in cost calculation…

Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still contracted to Tullow into March 2025.Masirah Oil Ltd has signed a rig contract with…

Yara Marine Technologies (YMT) has been acquired by Geneva-based Okapi Supply Trading Advisory SA (formerly Sarl) to expand its maritime solutions portfolio.Yara Marine offers a portfolio of cutting-edge green technologies, spanning from SOx Scrubbers and Vessel Optimization solutions (Route Pilot AI, FuelOpt, and Fleet Analytics) to turnkey Shore Power solutions. The acquisition comes as the industry faces increasing emissions regulations and financial impetus to meet the 2030, 2040 and 2050 emissions goals set by the International Maritime Organization (IMO).Yara Marine Technologies’ Dr.

Belgian tanker operator Euronav has concluded the acquisition of 100% shares in cleantech maritime group CMB.TECH for $1.15 billion in cash.The transaction is part of Euronav’s renewed strategy of diversification, decarbonization and accelerated optimization of the its current crude oil tanker fleet, driven by CMB.TECH’s ‘future-proof’ fleet of 106 low carbon vessels, of which 46 are under construction.It was first announced in December 2023, and also entails Euronav’s proposal change its corporate name to CMB.TECH following completion of the transaction and the offer.

Because there are so many different kinds of passenger vessels, the critical topic of passenger safety can sometimes appear as a set of niche topics, each one just distantly connected to another. After all, passengers aboard a cruise ship in the Caribbean face safety issues that are much different than a commuter going from Jersey City to Manhattan or a tourist crossing from the Mukilteo, Wash. ferry terminal to Whidbey Island or a family on a fishing vessel in Miami.Importantly, though, for passenger vessel operators, a commitment to safety is not siloed.

Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years, as a ‘stakeholder’ simultaneously mindful of the perspectives of owners, seafarers…

Belgium-based offshore installation services company DEME has installed the first XXL monopile foundation at the 882 MW Moray West offshore wind farm in Scotland.DEME used its Orion offshore installation vessel to complete the task, which is part of its work scope that includes both the installation of monopiles and transition pieces.The company’s jack-up vessel Apollo is also joining the effort, taking care of installing the transition pieces.According to DEME, it is using vibro hammer technology, minimizing the environmental impact from vibrations.Apollo vessel previously demonstrated its ex