Shipping Trade News

Karin Orsel has been appointed the first female President ever in the history of the European Community Shipowners’ Associations (ECSA), starting on January 1, 2024 for a two-year term, with Mikki Koskinen joining as the new Vice-President. She succeeds Philippos Philis, who has held the position since January 2022.Commenting on her appointment, new ECSA President Karin Orsel said, “The strategic role of European shipping for the security of the Europe has come to the forefront.

Arsenio Dominguez, Secretary-General of the IMO, addressed the United Nations Security Council at its 9,525th meeting reiterating his condemnation of the attacks against international shipping in the Red Sea.“Attacks against international shipping in the Red Sea area are not acceptable,” he said. “Ships must be allowed to trade worldwide unhindered and in accordance with international law.”Since the beginning of November, a number of attacks have been launched against international vessels navigating in the Red Sea which hosts around 15% of international shipping trade.

Pacific Northwest seaports Seattle and Tacoma have signed design agreements with the U.S. Army Corps of Engineers (USACE) for a pair of waterway navigation improvement projects.The Seattle Navigation Improvement Project, authorized by Congress in 2018, and the Tacoma Harbor Navigation Improvement Project, authorized in 2022, are part of a comprehensive modernization initiative for The Northwest Seaport Alliance (NWSA) gateway that began nearly a decade ago.Containerships navigating in the trans-Pacific trade are increasing in size…

Australian company Sprintex has supplied a critical component to the US$15 billion EU Sustainable Hydrogen-Powered Shipping Project (sHYpS), involving 13 partner companies in six countries, which will convert six cruise ships to be powered by hydrogen fuel cells.Each vessel will be equipped with around 100MW of electrical power, derived from modular hydrogen fuel cells. Sprintex has delivered high-speed electric compressors which are essential for the overall efficiency and performance of the fuel cell systems…

The International Maritime Organization (IMO), Bangladesh and Liberia have announced the ratification of the Hong Kong Convention by both nations, marking what shipping trade organization BIMCO said is the beginning of a new era for the ship recycling industry.The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, commonly known as the Hong Kong Convention, is a multilateral convention adopted in 2009, designed to improve the health and…

Viridis Bulk Carriers has received Approval in Principle (AiP) from the classification society DNV for its ammonia fuelled short sea bulk carrier design. The certificate was presented during the Nor-Shipping trade fair at the DNV stand.An Approval in Principle (AiP) is an independent assessment of a concept within an agreed framework, confirming that the design is feasible, and no significant obstacles exist to prevent the concept from being realized.As the maritime industry is looking to bend the carbon curve towards zero…

DNV has published a study co-sponsored by the Singapore Maritime Foundation (SMF), examining the key drivers transforming the maritime industry and their impact on ship management and seafarers.The study was officially handed to SMF Chairman Hor Weng Yew during the Nor-Shipping trade fair in Oslo.The research draws on a comprehensive methodology combining a literature review, expert consultations, and a survey of over 500 seafarers responsible for operating dry bulk, tanker, and container vessels globally.

Samsung Heavy Industries (SHI) has become the world's first shipyard to receive DNV's D-INF(S) type approval for its SVESSEL BIG data collection system, a core technology for autonomous shipping.SVESSEL BIG is set to become a crucial component of SHI’s digitally enabled vessels. With D-INF(S) type approval, shipowners can be confident that the onboard critical data infrastructure is verified to meet international standards (ISO 19847/19848) for reliable, safe, and efficient information sharing.DNV Group President & CEO Remi Eriksen presented the type approval certificate to Mr Jin Taek Jung…

Classification society DNV has awarded the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping in collaboration with Nordic Green Ammonia Powered Ships (NoGAPS) partners BW Epic Kosan, Yara, MAN Energy Solutions, Wärtsilä, Global Maritime Forum and Breeze Ship Design an Approval in Principle (AiP) for the design of an ammonia-powered gas carrier – the M/S NoGAPS. The certificate was presented during the Nor-Shipping trade fair at the DNV stand.The maritime industry is accelerating in its drive towards a multi-fuel zero carbon future.

The United Arab Emirates is tightening insurance requirements for vessels registered under its flag, according to a government advisory, amid growing concerns over ships sailing without top tier cover in the event of an oil spill.Ships typically have protection and indemnity (P&I) insurance which covers liability claims including environmental damage and injury.

As geopolitical upheaval continues, Peter Sand, Chief Analyst, Xeneta, explores how global trade patterns have (and will) evolve.Geopolitical unrest could have dramatic and long-term impacts on global trade patterns for all goods and commodities, as political alliances are essentially being ripped up and rewritten. Spurred by Russia’s invasion of Ukraine in 2022, changing trade patterns are emerging in the container shipping sector, said Xeneta’s Peter Sand, as the term of the day is “friendshoring”…

Oslo-based shipping company MPC Container Ships ASA on Thursday announced it has appointed Moritz Fuhrmann as Chief Financial Officer (CFO) from December 1, 2022. Fuhrmann will succeed the current CFO, Dr. Benjamin Pfeifer, who has resigned his position to pursue new opportunities.Fuhrmann joins the company from London-based Hayfin Capital Management LLP, where he has served as Principal in the maritime team. Prior to that, he has worked for DVB Bank in Germany and the Netherlands…

While the Covid-19 pandemic resulted in few direct claims for the marine insurance sector, the impact on the welfare of crews and the boom in shipping and port congestion, exacerbated by the Ukraine invasion, raises potential safety concerns.Demand for crew is currently high with the shipping boom, yet following the Covid-19 pandemic many skilled and experienced crew are leaving the industry, having endured many months, and in some cases, years, stuck on vessels. For those that choose to remain…

With 90% of global trade moved by sea, shipping is a major contributor to climate change. The International Maritime Organization (IMO) estimated that the industry’s greenhouse gas emissions grew by 10% between 2012 and 2018, while the industry’s share of global anthropogenic CO2 emissions grew slightly to almost 3%, about the same volume as Germany. It also forecasts that ‘business as usual’ could see emissions increase by up to 50% by 2050 due to the growth in shipping trade.The race to decarbonize shipping is now underway.

With 90% of global trade moved by sea, shipping is a major contributor to climate change. The International Maritime Organization (IMO) estimated that the industry’s greenhouse gas emissions grew by 10% between 2012 and 2018, while the industry’s share of global anthropogenic CO2 emissions grew slightly to almost 3%, about the same volume as Germany. It also forecasts that ‘business as usual’ could see emissions increase by up to 50% by 2050 due to the growth in shipping trade.The race to decarbonize shipping is now underway.

The Port of Antwerp is adapting to losing shipping trade with Russia and its merger with the neighboring Port of Zeebrugge is set to boost overall volumes in coming years, the group's chief executive said on Thursday.Global shipping companies including leading container lines have cut business ties with Russia due to Moscow's invasion of Ukraine and the imposition of Western sanctions. While food and medical shipments are still allowed, overall exports to Russia have been hit…

German propulsion company SCHOTTEL said it has acquired a majority stake in Turkish marine electrical system integration specialist elkon as vessel hybridization and electrification gain traction amid industry efforts toward decarbonization and improved energy efficiency.The contract for the purchase of the majority stake in elkon by the holding company SCHOTTEL Industries GmbH was signed in Istanbul, Turkey, and announced this week at the Nor-Shipping trade fair in Oslo, Norway.“With elkon as renowned and very successful supplier of electrical power system engineering…

DNV has signed a classification contract with offshore wind vessel owner Edda Wind for two new Commissioning Service Operation Vessels (CSOVs). The contract was signed Wednesday at the Nor-Shipping trade event in Oslo, Norway.The vessels, being constructed to serve offshore wind farms during commissioning and operation, will be built at Colombo Dockyard in Sri Lanka. The two CSOVs, which will be hydrogen-ready, are expected to be delivered under the Norwegian Flag in January 2024…

maritime VSAT provider KVH Industries, Inc. announced it has launched satellite connectivity services that will allow vessels to use KVH connectivity while operating in Indian territorial waters. In addition, KVH will offer satellite connectivity services to Indian flagged vessels. Station Satcom Private Ltd, an existing KVH service provider based in Mumbai, will be KVH’s distribution launch partner in India.“With the award of the license by the Department of Telecommunications of India…

Classification society DNV announced it has awarded approval in principle (AIP) to Knutsen NYK Carbon Carriers (KNCC) for its PCO2 tank system for the transportation of liquefied CO2 (LCO2).Many of the world’s decarbonization goals can only be met through use of carbon capture and storage (CCS) technologies. But to make a meaningful impact on the climate challenge, all of the CCS chain must be deployed and then scaled rapidly. Transport of CO2 is an essential part of this chain…

A newly launched autonomous vessel project aims to improve and assess the safety and efficiency of autonomous navigation systems and deploy a pilot on an operational ferry.Partners DNV, Kongsberg Maritime, Kongsberg Seatex, Bastø Fosen and NTNU announced the launch of the new SAFE Maritime Autonomous Technology (SAFEMATE) project, at the Nor-Shipping trade fair on Tuesday.The promise of automating more functions in shipping shows great potential, and interest continues to grow throughout the industry as more projects are developed.

Russia's shipping trade has plummeted since Moscow's Feb. 24 invasion of Ukraine and Western sanctions push many foreign companies to suspend sailings, adding further pressure on the country's economy, according to freight data.The world's biggest foreign container lines—including the top three MSC, Maersk, CMA CGM and others such as Hapag Lloyd—have temporarily suspended cargo shipments to and from Russia, while multiple companies including home furnishings firm IKEA have shut stores.Food companies Nestle…

The Biden administration recently issued a sweeping Executive Order [1] aimed at protecting and enhancing competition, and the transportation sector—including air, ocean, and rail—is among the industries specifically identified and likely to see heightened antitrust scrutiny under the new directives. This executive action was soon followed by the long-awaited announcement of Biden’s pick to lead the U.S. Department of Justice’s Antitrust Division (Division), Jonathan Kanter, who…