Lloyds News

European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U.S. assets, vulnerable to setbacks.Not Good, But 2022 Was WorseThe jump in oil and gas prices evokes memories of Russia's invasion of Ukraine in 2022, which triggered a global energy crunch and hit Europe particularly hard.Since Friday…

ABS Chairman and Chief Executive Christopher J. Wiernicki was named International Personality of the Year at the Lloyds List Greek Shipping Awards, the second time he has received the honor.The accolade followed ABS being named Number One Classification Society by Gross Tonnage in the annual Lloyds List ranking of the Top 10 Class Organizations.“Over the years, I have felt a profound bond with Greece and its maritime community," said Wiernicki, who this week was also placed 72 in the Lloyds List ranking of the Top 100 People in Shipping.

Tony Siciliano provides a bunch of his friends and I with an invaluable service by sending us daily emails with copies of articles that may be interest to us. This includes an occasional maritime court or regulatory decision. I tend to ignore the court decisions, but a decision with this title piqued my interest: Admiralty Court determines salvage remunerationSD Rebel BV & another -v- Elise Tankschiffahrt KG (VB Rebel) [2025] EWHC 376 (Admty)The decision provides an interesting insight into the difficulties and flaws of determining salvage awards.

The port of Prince Rupert has welcomed the startup of Wolverine Terminals’ marine bunkering service for deep sea shipping, adding a key logistical capability to this strategic deepwater port on the west coast of Canada. Using a unique pair of barges designed by Robert Allan Ltd., Wolverine Terminals can deliver a wide range of fuels to suit the needs of vessels calling at the port, including marine diesel, heavy, intermediate, and other blends to individual customer specifications.The Wolverine Terminals fleet is composed of a transloading barge and a fuel delivery (lightering) barge.

Norwegian shipbuilder Vard, part of Fincantieri Group, has secured Lloyd’s Register’s Approval in Principle (AiP) of the methanol fueling system for two offshore wind Commissioning Service Operation Vessels (CSOVs) being built for North Star.With the AiP, the two ships will be amongst the first prepared for conversion to green fuels in the wind market.The CSOVs are of VARD 422 design and are tailor-made for the UK’s infrastructure support vessel operator North Star, with new methanol ready hybrid-propulsion solutions.VARD 4 22 is Vard’s first methanol ready project…

Lloyd’s Register (LR) has granted the maritime industry’s first Enhanced Antifouling Type Approval to GIT Coatings.This new approval establishes a benchmark for antifouling coatings, responding to the increasing demand for effective biofouling management. Such advancements are crucial for decarbonization initiatives and for the protection of marine ecosystems.As the first classification society to offer this service, LR provides ship owners and operators with verified assurances regarding the performance of antifouling coatings…

Ongoing concerns around fuel quality continue to be a critical factor and significant expense for the maritime industry, according to the Lloyd’s Register (LR) Fuel Quality Report 2024.The report, produced by LR’s Fuel Oil Bunker Analysis and Advisory Service (FOBAS), reveals the overall state of fuel quality in 2024 remains much like that of the past few years, particularly since the transition to predominantly very low sulphur fuel oil (VLSFO) in 2020. Persistent issues such as cat-fines…

Ship management company Wallem Group announced it has appointed Luis Benito as its new group business development and marketing director, effective August 19, 2024.In his new role, Benito will be responsible for driving sustainable profitable revenue growth across the group, overseeing Wallem’s business development, marketing, brand, and communications teams. He will work closely with Wallem’s Ship Management, SeaSafe, Ship Agency and Commercial Services businesses to deliver innovation, product management, marketing and sales strategies.

On a website run by the Ukrainian security service, donors anywhere in the world can pledge money to build Ukraine's cutting-edge "Sea Baby" unmanned maritime drones.It is a slick, professional site offering donors the chance to sign up for newsletters or even name the drone themselves if they donate the full $220,000 cost.Only six meters (20 feet) long and 60 cm (two feet) high above the water level, the craft can carry up to 850 kg of explosives up to 1,000 km (620 miles), often…

Over the past year, H2 Energy and DFDS have worked together on a project to analyze the feasibility of retrofitting large ferries with a hydrogen propulsion system.The project, supported by the Danish Maritime Fund, has led to the publication of a hydrogen propulsion feasibility study.With support from the Danish Maritime Fund, DFDS, H2 Energy and Lloyds set out to uncover the technical and operational feasibility of hydrogen propulsion systems by analyzing the main aspects of…

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…

The Royal Thai Navy has taken delivery of the new tug H.T.M.S. Ta Chai built by Asian Marine Services PCL. The vessel, having already undergone sea trials, was officially handed over on August 21.The newly completed RAmparts 3200-SD tug was designed by Canada's Robert Allan Ltd. to serve the navy’s surface ships and submarines.The design features a slightly wider hull form with improved features compared to two RAmparts 3200 tugs delivered to the Royal Thai Navy in 2017 and 2019…

Nippon Kaiji Kyokai (ClassNK) has joined the major classification societies to amend its rules relating to the inspection of seawater-lubricated propeller shaft systems.The amendment means that ships with open seawater-lubricated propeller shafts that are built to ClassNK rules are subject to the same 15-year shaft withdrawal inspection periods as oil-lubricated shafts and sterntubes, subject to monitoring criteria.The announcement brings ClassNK’s requirements in line with those of other large class societies…

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…

Offshore wind vessel firm Purus Wind has appointed Oliver MacManus as general manager, with immediate effect.MacManus will focus on overseeing the running of the construction/service operation vessels (“C/SOV”) business. "The appointment is integral to positioning Purus Wind for future growth as the business continues to expand its fleet of next-generation battery hybrid C/SOVs and crew transfer vessels (“CTVs”)," Purus Wind said.Tom Nevin, business head, Purus Wind said: “Oliver is a great asset to the team, strengthening its leadership as the business continues to grow.

Port agency and marine services provider Inchcape Shipping Services announced it has appointed Anna Evangelidis as its new Chief Operating Officer, effective June 6, 2023.Evangelidis brings with her a wealth of experience, having previously worked at BP, Saipem and LR (Lloyds Register), where she held various positions as a naval architect, pipeline engineer, procurement, and other operational leadership roles. Evangelidis secured an honors degree in Ship Science from Southampton University. In her new role, Evangelidis will be responsible for three major areas of our company.

In February Gard published the results of its review of Lloyds Open Form (LOF). Their review indicated a disturbing reduction in the number of LOF contracts, and noted some other concerns with regard to loss of use of LOF in salvage situations.Lloyds Open Form is a classic and, in my mind, cherished, example of the core beauty of maritime. It combines a large number of maritime concepts into a simple device that solves a complex problem.It reminds me of a few of the lines in the song “Wooden Ships” by Crosby, Still, Nash and Young.

Lloyd’s Register has acquired a 50% interest in ISF Watchkeeper, a work and rest hours compliance software solution from IT Energy Systems and Consulting Limited. The acquisition will result in LR becoming a joint owner of ISF Watchkeeper with the International Chamber of Shipping (ICS).Originally developed by ICS and IT Energy, ISF Watchkeeper is a suite of digital solutions that helps global ship operators to plan, manage and report their crew’s rest hours compliance in accordance with International Convention on Standards of Training…

Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas (LNG) facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said. Major LNG importers such as Japan, South Korea, and Taiwan are rethinking Russian supplies after sanctions on Moscow after it invaded Ukraine and more natural gas could be needed to produce lower emission and alternative fuels as nations try to reduce their carbon emissions.

Classification society Bureau Veritas has successfully reviewed a 3D design of a 2500 m³ hopper dredger from Damen Shipyards, being a step to granting it approval in principle. The pilot project for 3D model-based class approval is meant to pave the way toward using three dimensional computer designs as standard procedure to achieve class notation for seagoing vessels.Vessel steel hull Design evaluation based on 3D models in parallel to its classification review process has become possible thanks to the new data exchange format - OCX.

Shadowcat expanded its portfolio to include a monohull shadow vessel. Dubbed Shadowolf, this is its first single-hulled support yacht and is available to meet the increasing demand for guest-level comfort and services. The vessel's new hybrid hull design focuses on passenger comfort and accommodation, while still enhancing adventures at sea.Designed by Shadowcat partners Incat Crowther and YCTS, Ltd., the 69.2m Shadowolf offers an 11.5m beam and 3.25m draft, and will be built upon Incat Crowther’s aluminum hull design.Other Shadowolf features include a fully certified helipad and hangar…

Defense company Babcock International has started a post-life extension (LIFEX) on the U.K. Royal Navy’s Type 23 frigate HMS Argyll at Babcock Devonport’s facility. It is the first Type 23 to begin their post-LIFEX upkeep, adopting a new innovative approach to recertification at the Frigate Support Centre (FSC).Babcock will be overhauling key equipment and carrying out design changes for new capabilities such as communications upgrades and mixed crewing. The Duke Class frigate will also receive a full spray coat on the outer bottom and ship side.Sarah Hilder…

The UK Hydrographic Office (UKHO) confirmed the appointment of Marion Leslie as Non-Executive Chair. Leslie will chair the UKHO Board in this independent position after a year as interim Non-Executive Chair and six years as a Non-Executive Director at the UKHO.The Board supports, challenges and validates the UKHO business strategy and oversees the organization's performance. Leslie leads the Board as Chair, acting in the interests of the Ministry of Defense and key stakeholders…