Swiss Re News

The 25 crew members of the MSC Aries, which was seized by Iran on April 13, are safe, shipping firm MSC said on Wednesday, adding that discussions with Iranian authorities are in progress to secure their earliest release."We are also working with the Iranian authorities to have the cargo discharged," the Swiss headquartered company said in a statement.Iran's Revolutionary Guards seized the container vessel in the Strait of Hormuz days after Tehran vowed to retaliate for a suspected Israeli strike on its consulate in Damascus on April 1.

Offshore installation contractor Allseas has made progress on the installation of the pipeline for Santos’ Barossa Gas Export Pipeline (GEP) project offshore Australia.Allseas’ Audacia pipelay vessel has installed her largest ever PLET in S-mode, concluding several years of in-house engineering, fabrication and testing, the Swiss-based contractor said.Due to the weight of the pipeline end termination structure, Allseas’ production crew had to install it separately to the connector head.Audacia vessels is being supported with four other vessels - Fortitude…

Mitsubishi Shipbuilding, part of Mitsubishi Heavy Industries (MHI) Group, has acquired an approval in principle (AiP) from the Japanese classification society ClassNK for its ammonia fuel supply system (AFSS).The AiP has been issued for the AFSS developed for the X-DF-A, a large, low-speed two-stroke ammonia-fueled engine under development by WinGD, a Swiss designer and licensor of large marine engines.In June 2023 Mitsubishi Shipbuilding and WinGD concluded a memorandum of understanding (MoU) to undertake joint technical studies on an AFSS…

Gearbulk announced it has signed a contract for delivery of up to four ammonia/methanol-ready, 82,300 dwt open hatch newbuildings. The contract is firm for two vessels, with an option to purchase a further two.The Swiss-headquartered company said it has secured financing for the vessels, and CSSC Huangpu Wenchong Longxue shipyard will deliver the first two vessels in the first half of 2027.“This contract for four newbuildings marks a significant milestone for Gearbulk as these vessels are set to be the largest and most efficient in the company’s history…

Britannia, the insurer of container ship the Dali, is working with the vessel's owner and U.S. authorities on the investigation into the collapse of Baltimore's Francis Scott Key Bridge, the insurer said on Thursday.The bridge collapsed on Tuesday after the Dali suffered a power outage and struck a pylon, causing huge disruption in the port."We are working closely with the vessel's owner and manager and the relevant U.S. authorities as part of the investigation into the casualty…

Container ship MSC Sky II was continuing its voyage to Djibouti on Tuesday after being hit by a missile a day earlier near Yemen's port city of Aden, its operator MSC said.MSC Sky II was hit by a missile about 85 miles southeast of Aden and 170 miles east-southeast of the Bab al-Mandab Strait while it was sailing from Singapore to Djibouti, the Swiss-headquartered MSC said in a statement."The missile caused a small fire that has been extinguished while no crew were injured. She is currently continuing her journey to Djibouti and will arrive today for further assessment…

One of two anti-ship ballistic missiles fired by Yemen's Houthis at the container vessel M/V MSC SKY II in the Gulf of Aden hit the ship and caused "damage", the U.S. Central Command (CENTCOM) said on Tuesday.Initial reports indicated no injuries and the Liberian-flagged, Swiss-owned container vessel did not request assistance and continued on its way, CENTCOM said in a statement.A military spokesperson for the Iran-aligned Houthis said on Monday that they targeted the vessel with "a number of suitable naval missiles".

Swiss marine power company WinGD and Japanese shipbuilder and technology developer Mitsubishi Shipbuilding have completed the initial design of an ammonia fuel supply system (AFSS) for vessels powered by WinGD’s X‑DF‑A ammonia-fueled engines.The AFSS design is the first result of a wide-ranging partnership announced last year that will develop solutions for ammonia engines and fuel systems that can be applied across a range of vessel designs.The project will now proceed to the detailed design phase…

Royal Caribbean Group projected 2024 profit above Wall Street expectations after robust demand for cruise vacations and steeper ticket prices helped it beat fourth-quarter earnings estimates on Thursday.With travelers opting for cruises instead of more expensive land-based vacation options, operators are experiencing record levels of bookings compared to pre-pandemic levels, giving them enough room to mark up ticket prices."2023 was an exceptional year, propelled by unmatched demand for our brands from new and loyal guests…

Carnival said on Tuesday that its annual earnings would take a hit as the cruise operator reroutes its ships that were due to pass through the Red Sea, a key transit route linking Asia and Europe.A growing list of companies have rerouted vessels as the Houthis, a Yemeni militant group, steps up attacks on Israeli ships or ships heading towards Israel, in solidarity with the Palestinians.The rerouting by Carnival is expected to have an impact of 7 cents to 8 cents on its adjusted earnings per share for full-year 2024, with the majority of the impact coming in the second quarter.

Cruise operator Carnival on Friday joined the growing list of companies flagging a potential hit to their operations following attacks on ships in the Red Sea by the Iran-backed Houthis."We believe that the instability in the Red Sea region currently impacting shipping could have an impact on our results of operations," Carnival said in a regulatory filing.The company's U.S.-listed shares fell nearly 2% in morning trade.The attacks, which the Houthis say are in support of Palestinians in Gaza…

Built by Rauma Marine Constructions, in Rauma, Finland, and launched in 2021, the 150-meter-long Aurora Botnia boasts a long list of onboard equipment that help it to earn its “green” designation, a label that is confirmed via a Clean Design notation from classification society DNV. The ship is also compliant with the International Maritime Organization’s (IMO) 2030 greenhouse gas reduction target.Wasaline CEO Peter Ståhlberg describes Aurora Botnia as “a masterpiece of cooperation” and noted that the vessel is over 80% domestic made."I'm really proud of the Aurora Botnia.

Japanese shipping company NYK has unveiled plans to install a Variable Compression Ratio (VCR) system on LNG-fueled car carriers in an effort to reduce greenhouse gas emissions and cut fuel costs.NYK said it will include a VCR system on LNG-fueled car carriers to be built by Shin Kurushima Dockyard, with the first vessel scheduled for delivery in 2026.The system is said to be able to adjust the air compression ratio in the engine combustion chamber to an optimal balance according…

Attacks from Houthi-controlled Yemen struck two Liberian-flagged ships in the Bab al-Mandab Strait on Friday, a U.S. defense official said, underlining the threat to vessels in shipping lanes being targeted by the Iran-aligned group.Danish shipping company A.P. Moller-Maersk said it would pause all container shipments through the Red Sea until further notice. German container line Hapag Lloyd said it was considering a similar move.A projectile, believed to be a drone, struck one of the Liberian-flagged vessels, the German-owned Al Jasrah, causing a fire but no injuries, the U.S.

The November edition of Marine News magazine highlighted a selection of the most notable American newbuilds delivered of 2023—from a first-of-its-kind green towboat, to the lead vessel in a series of game-changing ships to train U.S. mariners.Empire StateAs the lead vessel in a series of five new training ships being constructed to serve America's state maritime academies, Empire State is easily one of the most important U.S.-built vessels delivered in recent memory.Built by Philly Shipyard for the U.S.

Swiss marine power company WinGD will realise the first commercial instalments of its new variable compression ratio (VCR) technology on two new dual-fuel LNG powered vessels being built for NYK Line.A 95,000 DWT bulk carrier being built at Oshima Shipbuilding and a 7,000 CEU pure car and truck carrier (PCTC) being built at Shin Kurushima Dockyard will be the first two-stroke powered vessels that can dynamically optimise combustion depending on the fuel being used – delivering improved emissions…

Scandlines’ new zero direct emissions freight ferry has been launched at the Cemre Shipyard in Turkey.The ferry will be name Futura and deployed on the Fehmarn Belt between Germany and Denmark (Puttgarden-Rødby) in 2024. It will have a 10MWh energy storage system, the world's largest lithium-ion battery bank to date, which has been supplied by Swiss manufacturer, Leclanché.The 8.6 meter high ferry charger tower, developed by the German company, StemmannTechnik, is being prepared for installation at ferry berth 3 in Denmark’s Rødbyhavn.

Swiss marine power company WinGD announced it will supply X-DF-M methanol-fueled engines for a series of six container vessels to be built at Yangzijiang Shipbuilding in China. The 9,000 TEU vessels will each be powered by an X82DF-M engine built by HD Hyundai Heavy Industries’ Engine & Machinery Division (HHI-EMD), to be delivered in August 2025. The new vessel series will enter service in 2026 and 2027.The new order, which includes options for further engines, expands WinGD's methanol engine orders into the 82-bore size.

ABB flagged a slowdown in revenue growth in the fourth quarter and reported a continued decline in orders in China, sending its shares lower even as the Swiss engineering group posted third-quarter earnings broadly in line with forecasts.The maker of industrial drives and motors noted some signs of stabilisation in China, its second-largest market and said higher quarterly revenues and earnings were boosted by price increases outstripping cost inflation, and higher volumes.But…

Exmar LPG has ordered two ammonia-powered Midsize Gas Carriers (MGCs) from Hyundai Mipo Dockyard in South Korea.According to the company, a joint venture between EXMAR and Seapeak, the ships will be the first-ever oceangoing vessels to be propelled by dual-fuel ammonia engines, allowing for close to zero emissions trading when using ammonia. The engines will be delivered by Swiss marine power company WINGD, and the fuel supply system by Finland-based Wärtsilä Gas Solutions.Carl-Antoine Saverys…

Swiss marine power company WinGD has signed a memorandum of understanding with KSS Line to explore X-DF-A engines for future newbuild projects. The companies will focus on 52cm- and 62cm-bore versions of the dual-fuel ammonia engines, suitable for midsize and very large gas carriers (VLGC). The scope of the cooperation will extend beyond engine technology, also focusing on the performance and maintenance solutions necessary for using alternative fuel. The partners will also explore…

Swiss-based MSC, the world's biggest container shipping company, has offered to buy almost half of the main operator of Hamburg port in a deal that could be worth nearly 1.3 billion euros ($1.4 billion), setting the stage for a potential bidding war.Shares in HHLA, which runs Germany's biggest port, soared 49% to a 19-month high as shortly after Wednesday's announcement German logistics billionaire Klaus-Michael Kuehne said he was considering a counter offer."We are examining the submission of a public takeover bid, but would prefer an agreement with the city of Hamburg on privatization - be i

Swiss marine power company WinGD and South Korean shipbuilder Samsung Heavy Industries (SHI) have agreed to cooperate on future fuel vessel applications with ammonia-fueled engines. The memorandum of understanding, signed during the Gastech conference in Singapore this week, indicates a strong intention on the part of SHI to install WinGD’s X-DF-A dual-fuel ammonia engines on forthcoming newbuild vessels.The cooperation will include preparing X-DF-A for integration with wider ammonia fuel systems and auxiliary machinery across a range of vessel designs…