Ing News

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…

Chinese coast guard personnel briefly boarded a Taiwanese tourist boat near Taiwan-controlled islands next to China's coast on Monday, the government in Taipei said, in an escalation of tensions after China said it would carry out regular patrols.China announced on Sunday that its coast guard would strengthen law enforcement activity around the Kinmen islands following the death of two Chinese nationals fleeing Taiwan's coast guard having entered into prohibited waters too close to Kinmen, which lies opposite the Chinese cities of Xiamen and Quanzhou.Taiwan's coast guard said in a statement th

Brazil’s commodities export hubs are strained with record volumes of soy, corn and sugar to be moved at a time of the year when rains start to increase in southern ports, according to traders, analysts and shipping data.Exporters are reporting delays in coffee shipments due to a tight availability of trucks and containers, while loading waiting times for vessels have jumped, resulting in additional costs for traders and delays for the commodities to reach destinations.Brazil ports have been dealing with high volumes this year…

South Korean authorities cited the risk of Chinese economic retaliation when they charged marine technology firm SI Innotec last year with violating trade laws for its work on Taiwan's new military submarine program, according to a police document seen by Reuters and two people familiar with the matter.In a Feb. 17, 2022, affidavit to a judge seeking the arrest of SI Innotec executive director Park Mal-sik, police said authorities feared a repeat of the sweeping sanctions imposed by Beijing in 2016, after Seoul decided to install THAAD, a U.S. anti-missile system.

Taiwan unveiled its first domestically developed submarine on Thursday, a major step in a project aimed at strengthening the island's defense and deterrence against the Chinese navy, though it won't enter service for another two years.Taiwan, which China claims as its own territory, has made the indigenous submarine program a key part of an ambitious project to modernize its armed forces as Beijing stages almost daily military exercises to assert its sovereignty.President Tsai Ing-wen…

Taiwan hopes to deploy at least two new, domestically developed submarines by 2027, and possibly equip later models with missiles, to strengthen deterrence against the Chinese navy and protect key supply lines, the head of the program said.Taiwan, which China claims as its own territory, has made the indigenous sub program a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert its sovereignty.President Tsai Ing-wen…

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…

MAN Energy Solutions announced it will begin developing retrofit solutions for medium-speed marine engines as part of a research association including WTZ Roßlau gGmbh and TU-Darmstadt. The three-year research project, ‘CliNeR-ECo’, is funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) with initial work having already commenced at the beginning of 2023.CliNeR-ECo aims to develop concepts for diverse, medium-speed, marine engines that will enable the retrofitting of entire ship fleets at reasonable economic and technical costs.

Lloyd’s Register Maritime Decarbonisation Hub and the Maritime and Port Authority of Singapore (MPA) have signed a Memorandum of Understanding (MoU) aimed at collaborating on a fleet-specific decarbonisation strategy for ‘The Silk Alliance’ cross-industry initiative to enable zero-emission shipping across the Indian and Pacific Oceans.The collaboration includes driving investments into scalable fuel supply infrastructure to meet the demand of members of The Silk Alliance and potential wider regional bunkering demands for alternative fuels.Launched in May 2022…

The Singapore Shipping Association (SSA) announced its president Caroline Yang has been reelected for another two-year term.In addition, seven ordinary members of the SSA were first elected during the association’s 27th AGM on June 28. The 2023/2025 council also co-opted four members into their council. There are two more members that the elected council will need to co-opt into the council.Yang has been at the helm of the association through some of shipping’s most challenging times.

Taiwan's defence ministry said on Monday that a Chinese carrier group led by the Shandong was about 120 nautical miles off the southeast of the island's coast, the same ship that took part in China's war games around the island earlier this month.Taiwan previously reported that the Shandong, commissioned in 2019, had sailed into waters in the Western Pacific through the Bashi Channel that separates the island from the Philippines ahead of a meeting between President Tsai Ing-wen and U.S.

China will ban vessels from an area near Taiwan on Sunday because of the possibility of falling rocket debris, its maritime safety agency said on Thursday, as Japan sought details from Beijing on a reported no-fly zone in the same location. China has not commented on the no-fly zone, but South Korea, which was also briefed on the plans, said it was due to a falling object related to a launch vehicle. The disruption comes during tension in the region over Chinese military exercises around Taiwan…

Three marine industry partners are working to develop a concept for a high-speed internal combustion engine for ships that can run on green methanol in a CO2-neutral manner.Rolls-Royce, Woodward L’Orange and WTZ Roßlau have been working since the beginning of 2023 on the new joint project “MeOHmare”, which is receiving eight million euros in funding from the German Federal Ministry of Economics and Climate Protection.Dr. Daniel Chatterjee, responsible for technology strategy and sustainability at alliance coordinator Rolls-Royce Power Systems…

Chinese warplanes and navy ships were still in the waters around Taiwan, the island's defense ministry said on Tuesday after the end of three days of war games, as Taiwan President Tsai Ing-wen criticized Beijing for its "irresponsible" behavior.China began the exercises on Saturday after Tsai returned to Taipei following a meeting in Los Angeles with U.S. House of Representatives Speaker Kevin McCarthy.China, which warned the U.S. not to allow Tsai to visit or meet McCarthy, has never renounced the use of force to bring the democratically governed island under Beijing's control.

As China sends warships and fighter jets to the Taiwan Strait after a U.S. visit by Taiwan President Tsai Ing-wen, deemed a separatist by Beijing, fishing crews plying the narrow waterway say they fret more about their livelihood than politics.For years, Chinese fishermen trawling for fish, shrimp and crab have played cat and mouse with Taiwanese authorities as they closely track boats that near the median line of the Taiwan Strait.Villagers on Pingtan island in China's southeastern Fujian province…

Taiwan was keeping a close watch on a Chinese aircraft carrier and threats to inspect ships in the Taiwan Strait on Thursday after Beijing condemned a meeting between Taiwan President Tsai Ing-wen and U.S. House Speaker Kevin McCarthy.McCarthy - the third highest ranking official in the U.S. leadership hierarchy - and other Republican and Democratic lawmakers met Tsai on Wednesday at the Ronald Reagan Presidential Library in Simi Valley, California.The meeting took place at a low ebb of U.S.-China relations and despite threats of retaliation from Beijing…

This story spans a long period of time, but begins with a note I received recently on an earlier column from a reader named Allan Berger. He commented on the OODA loop concept in my “Pondering Truths in Design” column in the September MREN issue.He provided his approach that closely follows the OODA loop concept, which follows the principle of always gathering all the facts before speaking. That led to a discussion on decision making. Decision making is an extremely important concept that sets the course of human development, and is central to effective engineering.

Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer China.Rising Chinese steel inventories also weighed on overall market sentiment, analysts said.China is seen gradually resuming Australian coal imports, having eased an unofficial trade ban imposed in 2020, as signs of warming ties between the two countries have emerged.Prices of the steelmaking ingredient have dropped nearly 5% since the start of the year.The most-traded coking coal…

Maritime communications specialist Marlink signed an agreement with research institute Fraunhofer CML (Center for Maritime Logistics and Services) to identify Key Performance Indicator (KPI) data to accelerate digitalization and define the Return on Investment (ROI) scenarios for long term operational efficiency.Within this agreement, Marlink will leverage its BridgeLink solution to deliver data from core engine room and bridge systems including VDR, ECDIS, Radar, AIS, AMS, engine control systems, cargo systems, propulsion, and sensors.

Taiwan's navy took delivery on Friday of a new, domestically made amphibious warfare ship that can be used to land troops and bolster supply lines to vulnerable islands, part of President Tsai Ing-wen's defense self-sufficiency push. The 10,600-tonne Yu Shan, named after Taiwan's tallest mountain, is the latest development in Tsai's ambitious program to modernize the armed forces amid increased pressure from China, which claims the island as its own.Speaking at the delivery ceremony in the southern port city of Kaohsiung…

Belgian shipowner Exmar said on Friday it had signed a 10-year charter deal for the liquefied natural gas (LNG) vessel Excalibur with Eni as the Belgian shipowner closes the sale of its Tango LNG barge to the Italian energy group.The squeeze on oil and gas imports from Russia, following what Moscow calls "a special military operation" in Ukraine, has left Western powers scrambling to plug the energy gap, pushing them to expand LNG capacity.Exmar, which had been struggling to find a user to charter one of its giant LNG ships, said in August it had agreed to sell its Tango LNG floating liquefaction facility to Italy's Eni for 572 million to 694 million dollars.The group said in an earnings report that it had recently signed an agreement to acquire 100% of Excalibur…

China's threat of force is undiminished, Taiwan President Tsai Ing-wen said on Thursday, even though Beijing's largest ever military drills around the island seemed to be scaling down.Furious about a visit to Chinese-claimed Taiwan last week by U.S. House of Representatives Speaker Nancy Pelosi, China launched ballistic missiles and deployed multiple aircraft and warships in recent days to simulate sea and air attacks.China said on Wednesday it would keep up patrols but had "completed various tasks" around Taiwan, signaling a possible end to the war games even while keeping up pressure.

Belgian oil tanker and storage operator Euronav on Thursday reported sharply higher quarterly earnings, but despite a freight market recovery, rates for very large crude carriers (VLCCs) remained low, sending its shares down more than 4%."Management has good reason to be more optimistic on the winter season," ING's analyst Quirijn Mulder said after the group, which provides crude oil shipping and storage services, said freight rates had improved substantially since March.Chief Executive Officer Hugo De Stoop said in a statement that recent trading data…