Memorandum News

Wah Kwong NatPower and Huzhou Wuxing Ruituo Energy have signed a memorandum of understanding to develop zero-carbon inland shipping corridors, focusing on electrification infrastructure across key waterways in China.The partnership will establish a network of electric vessel charging and battery-swapping facilities, integrating energy supply, digital systems and operational services into a unified platform.The initial phase will focus on the Hangzhou–Jiaxing–Huzhou region in Zhejiang province…

Chiyoda Corporation, NYK Line and Knutsen NYK Carbon Carriers (KNCC) have signed a memorandum of understanding to collaborate on carbon capture and storage (CCS) projects globally.Under the agreement, the companies will work together to expand CCS business opportunities in Japan and overseas, including optimizing transportation methods for liquefied carbon dioxide.The collaboration will cover multiple stages of project development, including concept studies, feasibility studies…

Japan’s Mitsui O.S.K. Lines, Hitachi and Hitachi Systems have signed a memorandum of understanding to develop floating data centers by converting second-hand vessels, aiming to meet growing demand driven by artificial intelligence.Under the agreement, the companies will conduct feasibility studies, including demand verification, technical specifications and operational procedures, with a view to starting operations from 2027 or later.The initiative targets Japan as the primary market…

GT Wings has signed a Memorandum of Understanding (MoU) with Zunsion Technology in China to establish a strategic manufacturing partnership for its AirWing Jet Sail wind propulsion system.The agreement creates a framework for industrial scale production of AirWing units in China, combining GT Wings’ wind propulsion technology expertise with Zunsion’s automation manufacturing capabilities.The MoU establishes the foundation for a long-term industrial collaboration aimed at accelerating…

Sumitomo Corporation, Kawasaki Kisen Kaisha, Ltd., and NYK Bulkship (Asia) Pte. Ltd. have entered into a memorandum of understanding (MoU) to jointly conduct a Front-End Engineering Design (FEED) study and explore the ownership of a Newbuild Ammonia Bunkering Vessel (“N-ABV”) for application in Singapore. This collaboration underscores the parties’ shared commitment to enabling the development of a robust ammonia supply chain in Singapore, supporting its emerging role as a global…

Sumitomo Corporation, Kawasaki Kisen Kaisha, Ltd. (“K” LINE) and NYK Bulkship (Asia) have entered into a memorandum of understanding (MoU) to jointly conduct a Front-End Engineering Design (FEED) study and explore the ownership of a newbuild ammonia bunkering vessel for application in Singapore.The MoU is in support of the ammonia value chain development initiative that is jointly led by the Maritime and Port Authority of Singapore (MPA) and the country’s Energy Market Authority (EMA).

San Diego State University announced a partnership with Samsung Heavy Industries (SHI), a global leader in shipbuilding and offshore engineering, during a memorandum of understanding signing ceremony held on the university’s campus March 12.The collaboration leverages innovative research and workforce development from SDSU’s Department of Mechanical Engineering, San Diego’s active ports and shipyards, and SHI’s innovative maritime technologies.Together, the South Korean company…

Damen Shipyards Group has signed a memorandum of understanding (MoU) with FN Herstal, laying the foundation for a strategic industrial participation in maritime defense.The two parties aim to collaborate closely on the integration of FN solutions with Damen vessels, and the development of the regional, European and NATO defense eco-systems.The agreement provides for close collaboration in innovation and engineering, including the joint exploration of advanced maritime solutions…

Australia’s Pilbara Ports has taken a step further towards development of a low-carbon ammonia bunkering hub in the Pilbara by signing a Memorandum of Understanding (MoU) with Yara Pilbara.The Yara Pilbara plant is one of the largest ammonia production facilities in the world, utilising world-class export infrastructure in the Port of Dampier.The MoU advances the Pilbara Clean Fuel Bunkering Initiative as the two organisations have agreed to work collaboratively on government and stakeholder advocacy…

Italy’s Fincantieri and Spain’s Navantia have signed a memorandum of understanding to jointly coordinate and execute the European Patrol Corvette (EPC) program, strengthening industrial cooperation under one of Europe’s most ambitious defense initiatives.The two shipbuilders plan to create a joint venture to manage and execute the program. The vehicle will be open to participation from other project partners, with incorporation subject to the finalization of transaction documents…

DP World has acquired a 5,000+ TEU container vessel, DP World Chennai, integrating it into its Red Sea Gulf–India service to strengthen trade links between India and the Middle East.The vessel has been deployed on the route with its maiden call at Jebel Ali, lifting DP Wordl Shipping Solutions’ owned capacity to over 6 million TEU and aimed at enhancing schedule reliability across key regional markets."The acquisition of DP World Chennai enhances our capability to offer consistent…

Shell and Greece’s METLEN have signed a memorandum of understanding (MoU) to establish a framework for cooperation in the supply and trading of liquefied natural gas (LNG).Under the agreement, the two companies plan to supply and trade approximately 0.5 to 1.0 billion cubic metres (bcm) of LNG per year over the five-year period from 2027 to 2031.Deliveries are expected to be made to the Greek LNG regasification terminals at Revithoussa and Alexandroupolis.The MoU also envisages…

Kongsberg Maritime announced the signing of a Memorandum of Understanding (MoU) with PT PAL Indonesia, the country’s largest state‑owned shipyard. The signing ceremony took place at PT PAL’s headquarters in Surabaya and was attended by representatives from Kongsberg Maritime, PT PAL, and the Norwegian Ambassador to Indonesia, Rut Krüger Giverin.Kongsberg Maritime is a leading provider of marine technology solutions. Its offerings include marine automation, navigation, propulsion…

Hanwha Ocean and Ontario Shipyards have signed a strategic Memorandum of Understanding (MoU) to accelerate the return of large-scale shipbuilding in Ontario and to strengthen Canada's ability to deliver future naval programs.In parallel, Hanwha Ocean, Ontario Shipyards and Mohawk College have entered into a Letter of Intent (LoI) to establish an embedded shipbuilding training hub at Ontario Shipyards' Hamilton facility, aligned with the sector's long-term workforce requirements.Together…

The American Chemistry Council (ACC) and the American Waterways Operators (AWO) announced the renewal of a Memorandum of Agreement (MOA) that reaffirms a shared commitment between the chemical industry and the U.S. tugboat, towboat, and barge industry to enhance safety, environmental protection, and security through Responsible Care and AWO’s Responsible Carrier Program (RCP).The agreement renews a streamlined approach that enables Responsible Care Partner companies in the marine…

Turkey and Ethiopia signed a memorandum of understanding on energy cooperation during a visit by President Tayyip Erdogan to Addis Ababa on Tuesday, the Turkish Energy Ministry said, adding the accord would lead to joint production and projects.Erdogan held a one-day visit to Addis Ababa on Tuesday upon Prime Minister Abiy Ahmed's invitation, his first to Ethiopia in 11 years.The accord was signed at a ceremony after talks between the two leaders. Turkish Energy Minister Alparslan…

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell its oldest vessel, the 2009-built, 105,071 dwt Aframax tanker vessel, M/T P. Sophia, to an unaffiliated third party for a gross sale price of $35.65 million. The vessel is expected to be delivered to her new owners in mid-2026, subject to customary closing conditions.The M/T P. Sophia currently serves as part of the collateral for the Company’s outstanding Nordic bond.

Results from last year’s Concentrated Inspection Campaign (CIC) on ballast water management has revealed a change in regulatory compliance failures, which now include the actual performance, operation, and maintenance of installed ballast water treatment systems.According to Charlène Ceresola, BWT Project Manager and Regulatory expert at BIO-UV Group, Port State Control (PSC) data show that while documentation and record-keeping issues remain widespread, the most serious non-compliances are technical in nature.“When you look at the total number of compliance failures…

The Panama Canal and the U.S. Grains & BioProducts Council (USGBC) signed a Memorandum of Understanding (MOU) designed to strengthen their collaboration through the enhancement of global trade with U.S. agricultural products. Under the terms of the MOU, the Panama Canal and USGBC will collaborate on joint market efforts like economic analysis, as well as sharing trade and logistical data. Through this type of cooperation, the partnership will support an increasing international demand for U.S.

The Singapore Institute of Technology (SIT) and offshore and marine engineering group Seatrium have launched an Offshore & Marine Digital Learning Lab at SIT’s Punggol Campus, aimed at accelerating maritime digitalization and supporting the energy transition.The lab builds on a 2024 memorandum of understanding between the two organizations and is supported by cash investments from Seatrium. It is designed as a joint industry-academia platform for applied learning, workforce development and industry-driven innovation in shipyard and offshore operations.Over the next three years…

Bureau Veritas Marine & Offshore (BV) has granted an Approval in Principle (AiP) to Greenroom Robotics for its maritime autonomy software, GAMA. This is the first time a maritime autonomy software, enabling self-navigation has been granted AiP by Bureau Veritas, marking an advancement for maritime robotics and autonomous operations.Greenroom’s GAMA software employs AI to create a fully autonomous navigation system. By doing so, it integrates data from multiple onboard sensors to support situational awareness…

Huntington Ingalls said on Thursday that it had expected free cash flow for the current quarter to be negative, despite beating quarterly profit estimates, sending its shares down 11% at midday.CEO Chris Kastner said on a post-earnings call that the negative cash flow represented use of about $600 million, "as some of the fourth-quarter working capital benefit unwinds".Rising global tensions are driving up demand for Huntington Ingalls' nuclear-powered Columbia-class submarines, and the company is also positioned to benefit from U.S.

China-based offshore wind foundations manufacturer Dajin Heavy Industry and Spanish industrial group Zima Equity Investments have signed a memorandum of understanding (MoU) to jointly develop an offshore wind foundations manufacturing facility at the Port of Gijon in Asturias, northern Spain.Under the agreement, the partners plan to establish a manufacturing plant at the Port of Gijon capable of producing foundations for offshore wind projects serving the European market and other global regions.