Asia Pacific Region News

Japanese trading house Itochu Corp will study joint ownership and operation of ammonia-fueled ships with Taiwan's U-Ming Marine Transport Corp, Itochu said in a statement, as Japan is bets on ammonia to cut emissions.The shipping industry transports about 90% of world trade, and accounts for nearly 3% of the world's carbon dioxide emissions; and installing ship engines that burn cleaner fuels could help slow global warming trends.The IMO has set a target of net-zero greenhouse gas emissions by around 2050…

Energy and marine consultancy ABL Group has secured a contract by POSH Projects to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai in China to Brazilian waters.As part of its scope of work, ABL’s operations in Singapore will provide a tow master to act as client representative throughout the 12,108 nautical mile towage.The tow master will supervise and ensure that all marine operations for the sail away from Yantai CIMC Raffles Shipyard are carried out in-line with approved recommendations and procedural documentation.

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…

Norwegian offshore vessel owner DOF Group has secured a new contract and a contract extension for two of its vessels that will be employed in the Asia Pacific region.The latest contract secured for the region is related to Skandi Hercules vessel that will see it fully utilized off the Australian coast into the third quarter of 2024.The contracted scope includes project management and engineering, logistics support and execution of various inspection, maintenance, and repair (IMR)…

ABB entered into an agreement to acquire the shipping business of DTN Europe BV and DTN Philippines Inc. (hereinafter DTN Shipping), expanding the company’s offering in maritime software. The acquisition of the DTN Shipping portfolio covers vessel routing software, including analytics, reporting, and modelling applications. Financial details of the transaction were not disclosed. The transaction is subject to customary closing conditions as well as completion of applicable works councils’ consultation procedures.

Chee Hong Tat, Singapore’s Acting Minister for Transport, announced a record year in 2023 at a Singapore Maritime Foundation New Year Conversations event.The annual vessel arrival tonnage in the Port of Singapore crossed three billion gross tonnage (GT) for the first time, increasing by 9.4% over 2022 and setting a high of 3.09 billion GT in 2023. This reflects growth in all segments, including container ships, dry bulk carriers, liquid bulk and chemical tankers, ferries and specialised vessels…

Australia-based Woodside and South Korea’s SK E&S have signed a non-binding Memorandum of Understanding to enable studies on the potential development of a lower-carbon hydrogen value chain, including hydrogen, ammonia and other related products.Under the agreement, Woodside and SK E&S plan to jointly explore opportunities relating to long-term ammonia and hydrogen offtake arrangements; equity participation in ammonia and hydrogen production projects; and project engineering supply opportunities.In addition…

Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group and Nihon Shipyard, have signed a memorandum of understanding (MoU) with Mitsui & Co on the collaborative study for ocean-going liquified CO2 (LCO2) carriers for large-scale international transportation from 2028 onwards.With the plans for LCO2 carries the companies aim to accommodate the carbon dioxide capture and storage (CCS) business led by Japanese government.Utilizing the technologies and construction know-how of Mitsubishi Shipbuilding and Nihon Shipyard…

Norwegian offshore vessel operator DOF Group has secured two new projects – one in the North Sea and the other in Asia Pacific region – whose combined revenue is expected to bring in $30 million to the company. The first contract for DOF covers engineering, procurement, removal and disposal (EPRD) for a North Sea operator, including the project management, engineering, logistics and execution of an FPSO cessation project. According to DOF, it will disconnect, transport and pre-moor the floating unit, and retrieve and recycle the mooring system.

Japan-based Mitsui O.S.K. Lines, (MOL)  and Taiwan-based Ta Tong Marine Co. have through their joint venture Ta San Shang Marine Co. Ltd. (TSSM), signed a deal with the Dutch shipbuilder Damen Shipyards for the construction of a new service operation vessel (SOV).As TSSM's second Taiwan-flagged SOV, following Asia's first, the TSS Pioneer, which was delivered in 2022, the vessel is scheduled for delivery at the end of 2025 in Vietnam. The new CSOV, which will be methanol-ready will support offshore wind farms in Taiwan…

SGX-listed Marco Polo Marine has signed a framework agreement with wind turbine maker Vestas, which finalizes the previous Memorandum of Understanding signed in December 2022 between its Taiwan-based subsidiary, PKR Offshore Co., Ltd and Vestas Taiwan Co., Ltd for the maiden deployment of its new Commissioning Service Operations Vessel (CSOV). According to Marco Polo Marine, the new CSOV, which can accommodate up to 110 people, will be deployed across various offshore wind farms in the Asia Pacific region over three years…

The NYK Group, Stolt Tankers, and ENEOS Ocean launched a chemical ship pool business in the Asia-Pacific region in October.Shipowners and operators pool their vessels and undertake transportation services at the request of shippers. The pool business allows more flexible transportation services that utilize economies of scale, NYK said.The project started with 13 vessels, comprising two chemical tankers owned by ENEOS Ocean and 11 chemical tankers owned by a joint venture between…

The Australian government on Sunday described as "serious and ongoing" a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumption of normal operations and regular freight movement".The breach halted operations at the containers terminals in Melbourne…

The American Bureau of Shipping (ABS) is launching a global ABS Electrification Center in Singapore to support maritime decarbonization projects.Comprised of ABS engineers and technical specialists, the center will support a range of cutting-edge electrification projects for shipowners, shipyards and other stakeholders across the Asia Pacific region and around the world, ABS said.The center will also provide support for the electrification of harbor and coastal craft aligned to the initiatives from the Maritime and Port Authority of Singapore (MPA).

DEME Group has released its half year results saying its orderbook is 7.7 billion euro ($8.3 billion), up 36% compared to H1 2022, reflecting continued healthy demand and strong market positioning across all segments.Group turnover grew 14% year-over-year to 1.5 billion euro ($1.6), with growth in the offshore energy and environmental segments. Net profit was 30 million euro ($32 million), down from 39 million euro ($42 million) a year ago, primarily due to negative exchange rate results.Luc Vandenbulcke…

Future Energy Exports CRC, JX Nippon Oil & Gas Exploration Corporation, Low Emission Technology Australia, Mitsui O.S.K. Lines (MOL), and Osaka Gas have executed a project agreement for the "LP Technology R&D Project" to conduct research and development to demonstrate the technical feasibility and operability of low-pressure and low temperature solutions for the bulk transport of CO2 by ships.The LP Technology R&D Project will involve studying behaviour and boil off characteristics of liquid CO2 under dynamic operating conditions and the impact of non-CO2 components.

A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet. This article explores complex market demand and technical drivers that help give a better understanding of anchor handler requirements for floating offshore wind.Floating wind is an emerging technology currently being tested in small scale demonstration and pilot projects…

The Navy wants, and needs, more ships; but it can’t build them fast enough.While the U.S. Navy aims to achieve a 355-ship fleet, it is decommissioning older (and some not so old) ships at about the same rate it's adding new ones.A Congressional Research Service report stated that, as of April 17, 2023, the Navy included 296 battle force ships. "The Navy projects that under its FY2024 budget submission, the Navy would include 293 battle force ships at the end of FY2024 and 291 battle force ships at the end of FY2028."But there is progress…

Russia will conduct missile launches and torpedo tests as part of a surprise inspection of its Pacific naval fleet, Defence Minister Sergei Shoigu said on Friday.The drills come amid heightened tension in the Asia-Pacific region, as the United States and South Korea conduct joint air exercises following an intercontinental ballistic missile test by North Korea."The main objective of this inspection is to increase the ability of the Armed Forces to repel the aggression of a probable enemy from the direction of ocean and sea…

Interferry CEO Mike Corrigan explains the driving forces behind the global trade association’s imperative to keep its foot on the gas.Interferry and its members scaled some demanding peaks in 2022 but, to state the obvious, our work is never done. Facing an equally busy schedule of challenges and opportunities in the year ahead, we need to keep climbing – a truism that has been memorably expressed as ‘the top of one mountain is always the bottom of another’.Our 46th annual conference in Seattle last October was definitely one of the peaks…

$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW. By 2030, close to 11 GW of commercial scale wind farms are planned to be commissioned in Europe and the Asia Pacific Region. 2030-2035 will see a period a high commissioning activity as the USA joins established European and Asia Pacific markets.

The airline industry has been hit hard during the COVID-19 pandemic and seaborne jet fuel cargo volumes suffered along with it. In comparison to pre-pandemic levels, available seat kilometers dropped nearly 90% in early 2020. Initially, air cargo volumes fell as well but saw volumes climb 5-10% above pre-pandemic levels in 2021. During 2022, the surge in cargo volumes slowed along with global economic growth prospects whereas passenger traffic continued to recover. Now, the relaxation…

Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW) of commercial scale wind farms are planned to be commissioned in Europe and the Asia Pacific Region. Then, 2030-2035 will see a period a high commissioning activity as the U.S. joins established European and Asia Pacific markets. Floating installed capacity is forecast to reach 63 GW by 2035.