Global Marine News

11 Sep 2019

Marine Coatings Market: Clean, Green & $9.3B by 2025

Frost  & Sullivan said shipbuilders and dry-docking companies should work with marine coatings specialists to ensure that high-performance, environmentally-sustainable marine coatings that can protect the environment and increase fuel efficiencies are developed for use in the maritime sector.
Photo: © helenedevun/Adobe Stock

In its latest analysis of the marine coatings sector, UK-headquartered market analyst Frost & Sullivan’s has shown that increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries is a fast-growing trend in the marine sector. In addition, Frost & Sullivan’s report, ‘Global Marine Coatings Market, Forecast to 2025’, says that the Asia-Pacific region is expected to dominate the market owing to its large…

09 Sep 2019

MN100: Thordon Bearings Inc.

image credit: Thordon Bearings

A perennial fixture in our prestigious MN100 edition - MarineNews' annual look at the best 100 individuals and firms in the shallow draft, brown water and workboat sectors - Thordon Bearings has been on the leading edge of environmental improvements for the marine industry for many years. The Case:Thordon has invested heavily in the inland waterway market,  keeping two warehouses well stocked with tailshaft bearings, seals and rudder bearings to ensure quick delivery. The TG100…

02 Sep 2019

Marine Diesel Engine Market to Grow 3.9%

Image: MAN Energy Solutions

The global marine diesel engine market is estimated to grow at CAGR above 3.9% over the forecast time frame and reach the market value around US$ 8.1 billion by 2026.The worldwide market for marine diesel engines has expanded mainly as shipping industry needs to decrease carbon emissions, said Acumen Research and Consulting.The shipping industry focuses on developing higher-efficient diesel engines that use less diesel while offering more ship propulsion. However, the latest shipping and shipbuilding downturn has impaired the market.Shipbuilding orders decreased with lower shipping prices.

27 Aug 2019

Monjasa Acquires 5 Tankers for 2020 Supply

Pic: Monjasa

Global bunker company Monjasa Group has acquired full ownership of five tankers ahead of IMO2020."Monjasa secures five tankers with a total 37,500 deadweight and thereby extends ownership of the supply chain across core markets in the Arabian Gulf, West Africa and the Panama Canal at a critical point of time in bunkering and shipping," said a press release from the global partner in the oil and shipping industries.Shipowners around the world are tightening marine fuel supplies…

22 Aug 2019

Marine Engines Market: $14.4Bln by 2026

File Photo: Caterpillar

The global marine engines market is estimated to grow at CAGR above 4.5% over the forecast time frame 2019 to 2026 and reach the market value around $14.4 billion by 2026.The shifting trends in the shipping industry and the increase of worldwide amounts of sea trade are projected to fuel the development of the market in marine motors, said a report by Acumen Research and Consulting.Increased use of low-sulfur fuels due to public emissions reduction standards will fuel demand for the item.

16 Aug 2019

SHI Thrusts on Smart Ship Technology

Pic: Samsung Heavy Industries

South Korean shipbuilding giant Samsung Heavy Industries (SHI) has pushed ahead with advancing smart ship technology thanks to joint work with global equipment producers on SVESSEL, a smart ship system independently developed by Samsung.Yesterday (August 16) SHI signed an MOU with the German-based global company specializing in engine technology MAN-ES for collaboration on smart ship technology development.The MOU mainly aims at enhancing operating services of main marine engines by applying the engine diagnosis and high-tech control technology of MAN-ES to SVESSEL…

16 Jul 2019

Coatings Market to Reach $9.34bln by 2025

Pic: Frost & Sullivan

Global marine coatings market to grow at a steady rate of 3.5% from 2018 to 2025 and reach $9.34 billion by 2025, said Frost & Sullivan.The Asia-Pacific region is expected to dominate the market owing to its large base of shipbuilding and dry-docking facilities, it added.The analysis reveals that the increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries such as silicones and fluorosilicones will…

11 Jul 2019

Shipping Losses Lowest This Century as New Dangers Emerge

Captain Andrew Kinsey, Senior Risk Marine Consultant with Allianz Risk Consultant (ARC)

The Allianz Global Corporate & Specialty AGCS) Safety & Shipping Review 2019 provides a unique and in-depth look at the emerging risks facing international shipping stakeholders.Large shipping losses are now at their lowest level this century having declined by over 50% year-on-year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. The annual study analyzes reported shipping losses over 100 gross tons (GT). AGCS provides global marine and shipping insurance for all types of marine risk…

10 Jul 2019

IMO's Ghost Gear Initiative

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO) is working on best practices to prevent and reduce abandoned, lost or otherwise discarded fishing gear."Abandoned, lost or otherwise discarded fishing gear can continue to capture and kill marine animals and may cause navigational hazards – as well as contributing to the global marine litter problem," the UN body pointed out.IMO is working closely with the Food and Agriculture Organization (FAO) on reducing marine plastic litter from fishing vessels, including fishing gear, as part of the IMO Action Plan on the Reduction of Marine Plastic Litter.

13 Jun 2019

Seawork: Aptly Named, Well Worth the Visit

Perhaps the busiest part of the Seawork event involved the impressive display of workboats - all available to board and trial - alongside this waterfront venue. Image: Joseph Keefe

Southampton, United Kingdom: It has been quite a few years since I last touched down in the UK; longer still for a visit on a maritime business trip. And, I don’t cross 'the big pond' casually for one these events. This morning, Seawork 2019 in Southampton is not yet over but if the past two days have been any indication at all, then the entire event will be regarded as a rousing success for all involved.There is something for everyone here. I overheard one attendee refer to the event as the annual gathering of “the boys and their toys.” To be sure…

12 Jun 2019

Preparing for IMO 2020: Marine Emission Solutions

Image: Danfoss

Part I: Enhancing Engines & Fuels"Wood Mackenzie forecasts a 25 percent increase in price for lower sulfur content fuel based on a SOx scrubber adoption rate of about two percent, but some scenarios could cause LSFO prices to spike by as much as 60 percent."Around 80 percent of global trade is carried by sea. With more than 125,000 commercial and naval vessels operating around the world, ship-engine emissions are projected to rise by 250 percent by 2050 unless controls are imposed.

23 May 2019

Hurtigruten Inks 'Rotten Fish' Biogas Deal

© rufar/Adobe Stock

As the global marine industry aggressively moves to reduce emissions from ships, and Norway in particular has thrown down the gauntlet of zero emission cruise ships in certain fjords along its scenic coast, Norwegian cruise ship operator Hurtigruten has signed a 7.5-year deal to buy liquefied biogas (LBG) made from dead fish and other organic waste to help power its vessels.Under the contract with Biokraft, Hurtigruten ships will start receiving near-daily supplies of LBG, with…

17 May 2019

London P&I clubs Widen Middle East Threat Zone

A typical fleet oiler in support of U.S. Naval operations (CREDIT: USN)

London's marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market's Joint War Committee said in a statement that the additions cover areas of perceived enhanced risk for marine insurers and reflected enhanced regional risk."The situation will be kept under close review," said the Joint War Committee…

29 Apr 2019

Aon, HudsonCyber team for Maritime Cybersecurity

Cynthia Hudson, CEO of HudsonAnalytix

Aon and HudsonCyber are joining forces to provide enterprise-level cyber security capability assessment, integrated cyber breach response, and mitigation support to the global marine industry.“We see a real need for collaborative thinking in respect of an enterprise level cyber security methodology for our clients," said Lee Meyrick, CEO of Global Marine at Aon. "It is important to understand cyber risk exposures, mitigation strategies and maximizing the effectiveness of their programs.”Bringing together Hudson’s HACyberLogix cyber security assessment program and Aon’s cyber risk transfer…

26 Apr 2019

IUMI Concerned about Global Marine Underwriting

Pic: International Union of Marine Insurance (IUMI)

The increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019, said the International Union of Marine Insurance (IUMI).Although the global fleet continued to grow at around 3% in 2018, the number of total losses (vessels over 500GT) stood at a 20-year low. Only 21 total losses were recorded last year and this is on the back of a general downward trend witnessed since 2010. The reduction was seen across all vessel classes.Serious casualties (excluding total losses) have stabilised over the past three years but are still higher…

23 Apr 2019

'Sea the World' Reveal At Huizenga Center

Engine Room Wall (Photo: Advanced Mechanical Enterprises)

South Florida’s marine industry is a $12 billion/year economic engine that provides the region with 142,000 careers and jobs. With an aging workforce and a unique skill set, the maritime community is facing a workforce that’s aging out with skilled labor being very hard to find. To assist, Advanced Mechanical Enterprises/AMESOLUTIONS.COM, and 23 marine industry companies have joined forces with Junior Achievement of South Florida.On May 1, 2019, Junior Achievement of South Florida will unveil the Marine Industry Storefront…

12 Apr 2019

New Pumps for Exhaust Gas Cleaning Systems

Photo: KSB SE & Co. KGaA

To curb global marine and air pollution, stricter limits on the sulphur dioxide content of marine exhaust gases stipulated by the EU and IMO (International Maritime Organization of the UN) will apply from 2020. From an engineering point of view, this can be achieved by using natural gas or fuels with a low sulphur content, and by cleaning the exhaust gases with a scrubber.For on-board exhaust gas cleaning systems KSB ITUR Spain S.A., a KSB Group company of located in Zarautz,…

29 Mar 2019

Hapag-Lloyd Seals 'Dublin Express' Leak

Pic: Hapag-Lloyd

Fuel leak from the Hapag-Lloyd container ship “Dublin Express” berthed at Global Marine New York Container Terminal in Staten Island, in the Arthur Kill waterway near the Goethals Bridge,  was detected in the afternoon March 28.Fuel was escaping from the roughly 40 x 40-centimetre opening. The hole was sealed during the night. In addition, extensive containment booms were promptly set out to prevent any additional spreading of the oil and to proactively protect nearby nature reserves.The 4,120 TEU container ship encountered heavy swell while sailing from Port Everglades to New York.

29 Mar 2019

Containership Spills Oil in New York

A containership has reportedly leaked fuel oil into the Arthur Kill waterway near Staten Island, N.Y., the U.S. Coast Guard said.The Coast Guard said it is working alongside partner agencies to respond to the spill, which occurred while the vessel was moored at the Global Marine New York Container Terminal on Thursday afternoon. The amount of fuel spilled is currently unknown, and the cause of the spill is under investigation, the Coast Guard said.A Unified Command has been established on scene to coordinate cleanup efforts. Containment boom has been placed around the vessel and there are multiple oil spill response vessels actively…

26 Mar 2019

UK P&I Club Gets Regulator Clearance for Dutch Brexit Hub

British ship insurer UK P&I Club has received approval from the Dutch regulator for a new subsidiary in Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, it said on Tuesday.UK Club is the second specialist Protection and Indemnity (P&I) club to announce regulatory approval for Brexit trading arrangements in the EU. Rival club North said in January it got the green light for its Dublin subsidiary from Ireland's central bank.P&I clubs - mutually owned by their members which are shipping companies - have been an integral part of the City of London for nearly two centuries, insuring ocean going ships against pollution and injury claims…

22 Mar 2019

Teekay Joins SRTI

Image: Teekay

Teekay Shipping Corporation, the global marine energy transportation, storage & production company, has signed up to the Ship Recycling Transparency Initiative (SRTI).The Canadian shipowner thus  joined A.P. Moeller-Maersk, the China Navigation Company, Wallenius Wilhelmsen and other major maritime players and becomes the eighth to make public their approach to ship recycling.“Teekay is committed to helping the ship recycling facilities that we work with elevate their skills and performance to increase safety and sustainability…

18 Mar 2019

V. Ships Leisure, Mystic Cruises Team Up

Photo: V. Ships Leisure

V.Ships Leisure, part of V.Group, a global marine support services provider, has partnered with Mystic Cruises to provide crew management services including deck, engine, and hotel crew for the 9,300 GRT ice-classed vessel World Explorer.The vessel, which is currently under the final stages of construction at WestSea Viana Shipyard in Portugal will be delivered to Mystic Cruises in Q2 2019. With capacity for 200 passengers, World Explorer will be Mystic Cruises’ first newbuild expedition vessel…

13 Mar 2019

V. Group Appoints Holland

Steve Holland (Photo: V. Group)

V.Group, a global marine support services provider, has announced that it has appointed Steve Holland as a non-executive director.Holland brings a wealth of knowledge and expertise garnered from over 30 years in chemical manufacturing and distribution. He is currently Chief Executive Officer of Brenntag, the world’s largest chemicals and ingredients distributor, operating in 73 countries with 16,000 employees.Holland began his career in research and development. In 2007, he was appointed Chief Executive Officer of the Brenntag European business and joined the Group’s management board.

Maritime Reporter Magazine Cover Aug 2019 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News