Mou News

As alternative fuel engines start pushing into commercial sectors, the U.S. Department of Defense has taken notice, rationalizing that eventually, as alternative fuel grow in popularity, the diesel availability could drop while prices rise.To that end, Oak Ridge National Laboratory (ORNL) and Fairbanks Morse Defense (FMD) entered into a Memorandum of Understanding (MOU) to collaborate on the development and integration of alternative fuel technologies aimed at reducing the marine engine’s reliance on fossil fuels.

Fincantieri and C.A.B.I. Cattaneo (CABI), a company in the design, development and supply of underwater vehicles for the Special Forces of the Navy, have signed a Memorandum of Understanding (MoU) for the evaluation of commercial and industrial cooperation in the field of underwater vehicles and related integration with larger units.The agreement was signed in the presence of Admiral Enrico Credendino, Chief of Staff of the Navy, by Pierroberto Folgiero and Alberto Villa, respectively Chief Executive Officer of Fincantieri and CABI.The MoU will make it possible to integrate underwater vehicles on Fincantieri's surface and underwater units.

Yara Clean Ammonia (YCA) and Bunker Holding Group signed an MoU establishing the intention to collaborate to accelerate the development of the market for ammonia as a shipping fuel. This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel, namely a global supplier of clean ammonia and the largest bunker supplier today in terms of end users.This commitment will cover multiple global geographies and focus on serving first mover initiatives spanning different regions.Ammonia, a sustainable solution for maritime transport.

Wilhelmsen Ship Management (WSM) and Affinity Shipping signed a Memorandum of Understanding (MOU) to establish an independent company that will provide compliance services related to the EU ETS (European Union Emission Trading System).When created, the company’s offering is envisioned to be the first of its kind, offering a complete outsourcing service for shipping ETS management. The service integrates technical ship management and carbon allowance procurement to support shipowners, managers, and operators in the new era of emissions compliance.

SAYFR entered into an MoU with Japanese underwriter Mitsui Sumitomo Insurance (MSI) aimed at reducing risks of major incidents through building safety culture maturity in the maritime and offshore energy sectors. SAYFR has worked with MSI on several joint initiatives in the last two years. MSI is one of the world’s largest insurers and holds the biggest market position in the Japanese marine hull insurance sector.Focus areas have been identified and will be covered under the MoU…

Kongsberg Maritime (KM) and dry bulk owner Berge Bulk signed memorandum of understanding to jointly develop and advance the deployment of decarbonization technologies onboard dry bulk cargo vessels.Berge Bulk aims to be carbon-neutral by 2025, and to have a zero-carbon ocean-going dry bulk carrier by 2030. There are two elements of the joint development project. The first will be to evaluate and test emerging decarbonization technologies for use in the maritime sector. The second…

ClassNK signed a Memorandum of Understanding (MOU) with PowerX, Inc. (PowerX) for a collaboration on the development of the Power Transfer Vessel (Power ARK).PowerX is carrying out a project of the first model of the Power ARK series, which is designed for transferring renewable energy in Japanʼs coastal waters, and this project is in the design and development stage towards a demonstration experiment and full-scale operation in 2025.The first model of the Power ARK series, “Power…

Nakilat and Karpowership signed a Memorandum of Understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs)."This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector,” said Nakilat’s CEO Eng. Abdullah Al-Sulaiti.The MoU outlines an ambitious plan for the immediate future. Nakilat and Karpowership hope to set up a new joint venture and deliver the first FSRU by 2023.