Damen Shipyards Group Reports Profit, Order Book in 2024 Report
Financially, 2024 was a positive year for Damen Shipyards Group. Revenue remained just above USD$3.47 billion (3 billion euros). Net profit rose from USD$49.8 million (43 million euros) to USD$67.1 million (58 million euros). The order book was filled with a record USD$6.83 billion (5.9 billion euros) in new orders, rising to USD$12 billion (10.4 billion euros). In 2024, Damen delivered no fewer than 146 new vessels to clients. This included the Volta 1 and the Bu Tinah. The former is Europe's first fully electric tug, which has been put into service by the Port of Antwerp-Bruges in Belgium.
KIMM, Natural Resources Canada Sign MoU on Clean Technology Cooperation
The Korea Institute of Machinery and Materials (KIMM), under the National Research Council of Science & Technology (NST), signed a Memorandum of Understanding (MoU) with Natural Resources Canada (NRC) to establish a new platform for international collaboration in sustainable resource technologies and support the strategic expansion of KIMM’s global R&D network.The MoU outlines collaboration in the following areas:Joint research on ammonia recovery and removal technologies,Information exchange on battery material recovery and industrial waste treatment…
Fincantieri Delivers Cruise Ship Viking Vesta
Viking Vesta, the second of a new series of cruise ships that Fincantieri is building for the shipowner Viking, was delivered today at the Ancona shipyard.The ceremony was attended by Torstein Hagen, Chairman and CEO of Viking, and Luigi Matarazzo, General Manager of the Merchant Ships Business Unit of Fincantieri.The vessel belongs to the segment of small cruise ships. With a gross tonnage of approximately 54,300 tons, Viking Vesta has 499 cabins and can accommodate 998 passengers on board.
Scaling Up Hydrogen Fuel Cell Demand
This past month Maritime Reporter TV has taken a close look at two hydrogen fuel cell projects: the new research vessel planned for Scripps Institution of Oceanography and e1 Marine’s methanol-to-hydrogen technology which is being adopted by STAX Engineering for its emissions capture barges.The Scripps California Coastal Research Vessel will feature a hydrogen fuel cell propulsion system that will allow it to operate with no greenhouse gas or other emissions for 75% of its missions – and for all of its time operating in state waters.
An (Electric) Jolt for the Passenger Vessel Industry
The domestic passenger vessel answers the call for cleaner and more efficient platforms. It is truly an electric time to be a part of this niche industry.In the shadow of a rapidly changing political landscape, the domestic passenger ferry sector is nevertheless seeing an increasing number of newbuild vessel orders. Older fleet vessels, some approaching financial and operational obsolescence – also environmentally undesirable on a waterfront that more than ever demands cleaner carbon signatures – are going the way of the dinosaur.
Windcat’s First CSOV Launched
Damen Shipyards, Windcat and CMB.TECH are celebrating the launch of the first of six commissioning service operation vessels (CSOV).The launch marks the inauguration of Windcat’s Elevation Series of offshore wind farm maintenance and support vessels.Damen is constructing all six CSOVs at Ha Long Shipyard in Vietnam. With this first CSOV in the water, Damen will continue with its outfitting and commissioning operations to prepare the vessel for delivery in Q2 2025.Damen, Windcat…
LR Partners with Amogy and RotoBoost to Slash Maritime Emissions
Classification society Lloyd’s Register (LR) is collaborating with Amogy and RotoBoost in a study aimed at reducing emissions in the maritime industry. The joint development project (JDP) will assess the potential of advanced technologies such as hydrogen fuel cells, ammonia-to-power systems, and pre-combustion Carbon Dioxide Capture Storage (CCS) systems from technical, financial, and regulatory perspectives.This partnership marks a significant step toward evaluating how these…
Samskip Joins Fuel Cell Retrofit Project
Samskip has joined the EU HyEkoTank project and its LNG-fueled vessel Kvitnos will be retrofitted with TECO 2030’s zero-emission technology.Samskip Kvitnos, built in 2015, is a cargo ship which operates in a fixed route on a weekly multipurpose service from Rotterdam, along the Norwegian west coast, to Hammerfest. The project also aims to facilitate long-term hydrogen fuel supply contracts due to the vessel’s fixed route.The HyEkoTank project is the world’s largest ongoing fuel cell retrofit project…
New 250kW Hydrogen Fuel Cell Prepped for Maritime
Sydrogen Energy Pte. Ltd. (Sydrogen), a Singapore-based fuel cell components and systems company, announced its entry into the maritime market with a 250 kW fuel cell power module. Developed in a collaboration signed with Shanghai Hydrogen Propulsion Technology Co., Ltd. (SHPT), this system aims to accelerate the adoption of hydrogen technology in the shipping industry, supporting Singapore's maritime decarbonization goals."Through a slew of initiatives both on shore, and at sea…
Damen to Build Sixth Dual-Fuel Hydrogen CSOV for Windcat
Dutch shipbuilder Damen has secured a contract to build the sixth commissioning service operation vessel (CSOV) for offshore personnel transfer provider Windcat.The contract marks the further strengthening of the working relationship between Damen, Windcat and CMB.TECH, working on the 'Elevation Series' of CSOVs.Windcat will deploy the ‘Elevation Series’ to provide in-field technical and maintenance support to offshore wind farms for up to 30 days at a time.Damen will build the sixth CSOV at Ha Long Shipyard in Vietnam…
Gernot Ruppelt to Take Over as Ardmore Shipping CEO
Product and chemical tanker shipping company Ardmore Shipping Corporation on Monday announced that its current senior vice president and chief commercial officer Gernot Ruppelt will succeed company founder Anthony Gurnee as CEO.Gurnee will retire on September 16, 2024, at which point Ruppelt will step into the CEO position and current CFO Bart Kelleher will take on the additional role of president. Ruppelt will maintain responsibility for Ardmore's commercial platform, and Kelleher will maintain his role as CFO until successors are named for the positions.
Maritime Partners Acquires e1 Marine
Louisiana-based maritime financing company Maritime Partners on Monday announced it has completed its acquisition of e1 Marine, a company that produces hydrogen generation technology for the marine sector.Originally formed as a partnership between Maritime Partners, Element 1 and Ardmore Shipping, e1 Marine provides clean energy technologies, including advanced methanol-to-hydrogen generation products, which provide an alternative, cleaner fuel source for marine vessels. The technology comes from Element 1.…
Damen’s Tugs to Run on CMB.TECH’s Dual-Fuel Hydrogen Technology
CMB.TECH and Damen have signed collaboration agreement for four hydrogen-powered tugs.Built by Damen, the vessels will use CMB.TECH's dual fuel hydrogen technology that will significantly reduce emissions.The agreement was signed on May 23, 2024, the same day the classification society Lloyd’s Register presented CMB.TECH and Damen with an approval in principle (AiP) for the hydrogen solution that will be installed in the tugs.The dual fuel hydrogen ASD Tugs 2812 FF-H2, with 80-tonnes bollard pull…
Hydrogen-Powered Offshore Wind CTV Starts Sailing in Germany
FRS Windcat Offshore Logistics has announced the deployment of the hydrogen-powered dual fuel crew transfer vessel (CTV) in Germany for 50Hertz transmission system operator, marking the beginning of a joint operation in various wind farms in the German Baltic Sea.The CTV, named Hydrocat 55, is equipped with the dual fuel hydrogen technology of CMB.TECH, one of the FRS Windcat Offshore Logistics (FWOL) shareholders.The vessel represents an innovation for the offshore wind industry…
Report: Options for Retrofitting Ro-Pax with Hydrogen Propulsion Analyzed
BMT and PA Consulting have explored the feasibility of retrofitting medium-sized Ro-Pax ferries with hydrogen propulsion and storage technology.The resulting white paper assesses the economic and technical feasibility of retrofitting existing vessels with hydrogen propulsion systems, presenting three retrofit alternatives with varying complexity, hydrogen demand and costs. These options involve dual-fuel engines with compressed gaseous hydrogen storage, hydrogen fuel cells with…
Windcat Orders More Hydrogen-fueled CSOVs
Windcat has placed an additional order of two Commissioning Service Operation Vessels (CSOVs) with Damen Shipyards.The order increases Windcat’s CSOV fleet to five vessels, leaving the option of acquiring a sixth vessel. This development follows the initial announcement made in November 2022 regarding the construction of a series of hydrogen-powered CSOVs, the Elevation Series.The Elevation Series CSOVs, introduced in collaboration between Windcat and Damen Shipyards, features a pioneering design that significantly enhances capabilities and flexibility compared to traditional vessels.
ZEI Raises $8.75 Million in Series A Funding
San Francisco-based hydrogen technology company Zero Emission Industries (ZEI) announced it has raised $8.75 million through the completion of a Series A financing round led by Chevron New Energies, with participation from commodity trading company Trafigura and shipping and logistics company Crowley.ZEI, formerly known as Golden Gate Zero Emission, is best known as the technology team behind the Sea Change ferry, the world’s first commercial hydrogen fuel cell vessel launched…
CMB.TECH and DBR Build First Marine Dual Fuel Hydrogen Gensets
CMB.TECH and DBR have developed a dual fuel hydrogen gensets for marine applications.The companies are joining forces to take concrete steps in the decarbonization of the maritime industry. In this collaboration, DBR will be responsible for the construction and delivery of the dual fuel hydrogen gensets, specifically designed for marine applications. CMB.TECH provides the hydrogen technology, including the necessary components.The core of the dual fuel hydrogen genset is formed by the MAN V12-24l engine…
Sprintex Delivers Compressors for Billion Dollar Project
Australian company Sprintex has supplied a critical component to the US$15 billion EU Sustainable Hydrogen-Powered Shipping Project (sHYpS), involving 13 partner companies in six countries, which will convert six cruise ships to be powered by hydrogen fuel cells.Each vessel will be equipped with around 100MW of electrical power, derived from modular hydrogen fuel cells. Sprintex has delivered high-speed electric compressors which are essential for the overall efficiency and performance of the fuel cell systems…
CCS Grants AiP for Liquid Hydrogen Fuel Supply System
China Classification Society (CCS) has issued a first Approval in Principle (AiP) certificate for the marine liquid hydrogen fuel supply system developed by Weishi Energy Technology Hebei.The system design includes a marine liquid hydrogen tank and cold box, supercooled hydrogen storage technology, heat exchange technology, regulated hydrogen supply technology and subcooled hydrogenation technology. Dual-boost functionality ensures rapid system startup, says CCS, and the system…
Future Fuels: Methanol
Any commentator on the maritime business decarbonization voyage will offer something along the lines of "There will be multiple fuels…" With the International Maritime Organization (IMO) meetings of its Maritime Environmental Protection Committee (MEPC) set for early July, it is likely that targets for emissions will be tightened. Whatever mileposts that the IMO actually establishes, there will be no prescriptions handed down on how to get there. By mid-2023, nearly two years after the late 2021 alternative fuels crescendo in the aftermath of the COP26 meetings in Glasgow…
First Methanol-to-fuel-cell Power Chain Demonstrated
As part of the validation of Maritime Partners, LLC’s M/V Hydrogen One inland pushboat, hydrogen fuel cell supplier PowerCell Group and methanol-to-hydrogen technology pioneer e1 Marine in partnership with RIX Industries have conducted a successful string test of their respective technologies for a 200kW propulsion chain. This chain can be multiplied and scaled to a megawatt level.The result of the test proves the viability of a unique concept that takes methanol fuel and converts it to hydrogen onboard ships before using the hydrogen in a fuel cell to generate power cleanly and efficiently.
ABS AIP for Provaris’ Compressed Hydrogen Technology
ABS has presented Provaris Energy with an approval in principle (AIP) for its innovative gaseous hydrogen floating storage concept in a ceremony at NOR Shipping.The solution, dubbed H2Leo, has a design capacity range of 300 to 600 tonnes of hydrogen, expandable to up to 2,000 tonnes. The unit is designed for various hydrogen supply chains and applications, including bunkering for the maritime sector, intermittent/buffer storage for green hydrogen production, and long-duration storage for excess renewable energy.The AIP is the latest support from ABS for Provaris…