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Maritime Business News

11 Apr 2024

TOTE CEO Emphasizes Jones Act's Importance

(File photo: TOTE Maritime)

The CEO of U.S. shipping and logistics company TOTE Group emphasized the importance of the Jones Act in supporting the American maritime industry and economy.Speaking on the American Maritime Podcast, TOTE's CEO, Tim Nolan, said the Jones Act provides the organization with confidence and stability to invest in its fleet and the markets it serves.TOTE's maritime business in 2015 launched the world's first containerships powered by liquefied natural gas (LNG), for service between Jacksonville, Fla. and San Juan, Puerto Rico.

28 Mar 2024

Insights: Cherrie Felder, VP, Channel Shipyard Companies

Cheryl “Cherrie” Felder is among the U.S. barging industry’s most well-known leaders, having built a reputation as a difference-maker and champion for the industry.

For Cheryl “Cherrie” Felder, the path to the maritime industry was both untraditional and seemingly meant to be. After studying African art, she began her career working in a museum in New Orleans before landing a role directing professional rodeo in the Big Easy.“It was a lot of fun, and I learned a whole lot,” Felder said. “But as you may imagine, New Orleans is not a rodeo town. After the third year, the board of directors decided, okay, that's it. No more rodeo.”And that’s when Felder’s doorway to the maritime industry swung open…

13 Feb 2024

Marine Power R&D Insights: Matt Hart, Wabtec Corporation

Image courtesy Wabtec

Matt Hart, Manager & Platform Leader, Marine & Stationary Power Systems, Wabtec, offers insights on how the megatrends of decarbonization, energy transition and autonomy all inspire and impact the marine power solutions from Wabtec.Matt, to start us off, can you provide insight on the journey to your present position?I graduated from the University of Notre Dame with an undergraduate in Mechanical Engineering and started with General Electric in the Edison Engineering Development rotational program at the Erie…

12 Feb 2024

Foremost Group CEO Angela Chao Killed in Car Accident

Angela Chao (Photo: Foremost Group)

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

22 Jan 2024

Red Sea Shipping Disruptions Could be Avoided by Using the Arctic, But Challenges Exist

© Andrei Stepanov / Adobe Stock

Attacks by Yemeni Houthi rebels on merchant ships in the Red Sea have hit world trade. Between November and December 2023, the number of containers travelling through the Red Sea each day fell by 60% as ships moving goods between Asia and Europe diverted their routes around the Cape of Good Hope at the southern tip of Africa.This route results in at least ten days more sailing time, so has caused freight prices to surge and has triggered costly delays to production. The region has become a bottleneck for the global economy before.

02 Jan 2024

Amogy Brings Ammonia Into the Mix

© Forance / Adobe Stock

Ammonia is one of several renewable fuels seen as an option to help the maritime industry decarbonize.One of the companies working to unlock the fuel’s potential is Brooklyn, N.Y. based Amogy, developer of an onboard system that feeds liquid ammonia through a cracking process to create hydrogen on demand for power generation via fuel cell—without carbon emissions.Having already demonstrated its technology on an aerial drone, tractor and semi-truck, Amogy is currently working to…

22 Sep 2023

Singapore Reigns Supreme in International Shipping Center Development Index

Credit: anekoho/AdobeStock

For the 10th year in a row, Singapore ranks first in the Xinhua-Baltic International Shipping Center Development Index (ISCDI) Report.Published jointly by the Chinese state news agency, Xinhua and global maritime data provider Baltic Exchange, the report lists Singapore as the global leading maritime center, followed by London and Shanghai.The island nation scored 95.32 out of a possible 100 points, while London scored 83.35 points and Shanghai took third place with 81.58 points.Singapore has held the top position since the index began a decade ago.

16 Oct 2023

Future Fuels: Methanol

(Image: Glosten)

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…

27 Jun 2023

VSM Campaigns for Ramp-up of German Maritime Industry

Copyright Photofex/AdobeStock

With a number of evolving maritime business opportunities intermixed with geo-political headwinds, VSM, which represents the interests of the German maritime industry as a whole, launched a campaign aimed at the federal government and the EU to understand and support the tremendous growth potential for all things maritime in Germany.According to a press notice from VSM, the tasks are enormous: economical and clean merchant ships, plants and ships for offshore renewable energy…

27 Feb 2023

DMB Takes Over the Anschütz Group

Image courtesy AnschĂĽtz

Anschütz, a brand with more than a century history (since 1905), has a new owner and is part of DMB Dr. Dieter Murmann Beteiligungsgesellschaft mbH, meaning that Raytheon Anschütz GmbH is to be renamed Anschütz GmbH once the entry in the commercial register has been made.DMB takes over the entire Anschütz Group with its headquarters in Kiel and international subsidiaries in Panama City, Portsmouth (United Kingdom), Rio de Janeiro, Shanghai and Singapore. Anschütz returns to a…

27 Jan 2023

Bio-UV Group Reports 31% Increase in Bio-Sea Revenue

BIO-UV Group company founder, chairman and CEO Benoît Gillmann. Image courtesy Bio-UV Group

BIO-UV Group reported a 31% increase in revenues from its maritime business segment, contributing to full-year consolidated revenues of $56m for the 2022 financial year, confirming the sale of more than 200 BIO-SEA ballast water treatment systems throughout the course of the year."2022 was another year of very strong growth for BIO-UV Group, for both the Land and Marine divisions," said Benoît Gillmann, Founder, Chairman and CEO of BIO-UV Group.“Ultimately, targets were exceeded with $1.6 million more in sales than the $54 million we had anticipated.

21 Nov 2022

DNV, Singapore's MPA Extend Maritime R&D MOU

(Photo: DNV)

DNV and Singapore's Maritime Port Authority (MPA) have agreed to continue their collaboration on decarbonization and digital innovation in the maritime industry, signing a new three-year Memorandum of Understanding (MOU) at the Singapore Norway Innovation Conference.The initiative's scope includes decarbonization, digitalization and talent development for sustainable and smart maritime ecosystems. It builds on a 2019 extension of an MOU first drafted in 2014 to cover critical emerging trends within the maritime industry.

01 Nov 2022

Gas Shipping Firm Anthony Veder Renews Connectivity Deal with Inmarsat

©Inmarsat

Rotterdam-based gas-shipping company Anthony Veder has renewed its connectivity agreement with Inmarsat to increase its Fleet Xpress bandwidth allowance. The contract applies to every vessel in Anthony Veder’s tanker fleet."The agreement was reached following a successful trial in which Anthony Veder used the upgraded-bandwidth Fleet Xpress plan to run a data-intensive video-conferencing platform in a busy shipping lane," Inmarsat said."As well as supporting Anthony Veder’s increasing use of enterprise applications for more efficient business processes and seamless collaboration…

07 Oct 2022

Oliver Named Interim Head of UK Maritime and Coastguard Agency

Damien Oliver (Photo: MCA)

Damien Oliver has been appointed as the interim Chief Executive of the Maritime and Coastguard Agency (MCA). Damien will begin his new role on Monday 17 October, which follows the current MCA Chief Executive Brian Johnson’s retirement.Chairman and board member Christopher Rodrigues said, “Damien has had a number of high-profile roles within the MCA since joining in 2001 and he will bring a wealth of maritime experience and knowledge. Damien has been responsible for major projects and programs…

21 Jul 2022

Shrugging off Russia Maritime Business Loss, Cyprus Targets Asia Shipping

© Olga / Adobe Stock

Cyprus has already overcome the loss of Russian maritime trade due to European sanctions and the Mediterranean shipping hub is chasing business expansion in Japan and elsewhere in Asia as it looks to grow its flag, a senior government official said.Cyprus, together with Greece and Malta, which have the largest shipping fleets in the 27 member EU and host large ship-management centers, have been the most vocal countries in the bloc seeking to limit the extent of shipping restrictions imposed on Russia after its February invasion of Ukraine."Contrary to reports…

25 May 2022

NYK to Invest in theDOCK’s Navigator II Fund

Image courtesy NYK/theDOCK

NYK  signed an agreement to invest in “Navigator II,” an investment fund managed by theDOCK, an Israeli venture capital firm specializing in maritime technology. Navigator II invests in and supports startup companies that research and develop innovative technologies in the fields of shipping, ports, and supply chains. Through Navigator II, NYK will promote open innovation with startup companies by identifying new technologies and ideas that will strengthen existing businesses and create new businesses.In the past…

07 Apr 2022

US Offshore Wind: Figuring Out the Business

© Collin Gravois / Adobe Stock

If awards were given for dominating the sustainable energy spotlight, offshore wind (OSW) would surely be in line for top honors.Consider:Big money: BOEM’s February sale of New York Bight offshore wind development rights drew a record $4.37 billion in developers’ bids. Not only is that real money, but just as critically, “This week’s offshore wind sale makes one thing clear: The enthusiasm for the clean energy economy is undeniable and it’s here to stay,” exclaimed Interior Secretary Deb Haaland.Off Broadway: In January…

21 Mar 2022

Carboline: 'Bigger and Better' at 75 Years

(Photo: Carboline)

St. Louis-based coatings specialist Carboline is celebrating its 75th year in business in 2022. From humble beginnings in 1947, Carboline has grown into a global organization that has launched more than 500 products, with more than seven research facilities, 20 manufacturing facilities and hundreds of warehouses. Still, the company has remained laser-focused on quality, innovation and top-notch service.“Our offering to the maritime market is very unique,” said Brad Treuting, Carboline’s director of sales for marine and offshore in the U.S. Gulf and East Coast.

08 Dec 2021

Nor-Shipping: The Show Must Go on Despite Restrictions

Sidsel Norvik, Director, Nor-Shipping (Photo: Nor-Shipping)

The organizers of Nor-Shipping said the maritime trade show will be held in January as scheduled despite new coronavirus restrictions enacted in Norway.New, temporary national restrictions have reintroduced one meter distancing guidelines and face masks, where necessary, and limited numbers for social gatherings. Exhibitions are still permitted to be held with appropriate public health measures in place, and Nor-Shipping's organizers say the demand for a full-scale, international…

22 Oct 2021

Marshall Takes the Helm as CEO of Ecochlor

Ecochlor’s Board of Directors (BOD) has appointed Andrew Marshall as its Chief Executive Officer (CEO), effective immediately. Photo courtesy Ecochlor

Ecochlor’s Board of Directors (BOD) has appointed Andrew Marshall as its Chief Executive Officer (CEO), effective immediately, replacing Steve Candito.In making the announcement Ecochlor said that Candito will continue to support the company as a senior advisor to the Ecochlor BOD and leadership team. “When Andrew joined Ecochlor in 2019 as Vice President of Business Development he started the process of reshaping our international sales team as well as assisting in transforming the core of our business and growth strategy into the success that it is today," said Candito.

07 Oct 2021

'Containergeddon': Supply Crisis Drives Walmart and Rivals to Hire Their Own Ships

The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world.Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls.The dry bulk cargo ship has been drafted into the service of retail giant Walmart, which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season."Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, U.S. executive vice president of supply-chain operations at Walmart…

01 Sep 2021

RINA Acquires Logimatic Solutions

(Photo: RINA)

RINA announced it has acquired the entire share capital of Denmark-based software company Logimatic Solutions, in line with Italian classification society’s plan to boost its digital solutions knowledge and offering.The company, with a turnover of about 6 million euros, will be fully integrated within the RINA Group, and its nearly 50 employees will continue in the current structure from its offices in Denmark, Singapore and Chile.For RINA, the move will add the SERTICA fleet management solution to the RINA portfolio of maritime offerings…

01 Sep 2021

RINA Acquires Logimatic Solutions

RINA acquired the entire share capital of Logimatic Solutions, a Danish software company with a turnover of about 6 million Euros that will be fully integrated within the RINA Group. Its nearly 50 employees will continue in the current structure from its offices in Denmark, Singapore and Chile. This acquisition is in line with RINA’s strategic plan and will boost the company’s knowledge of digital solutions.The move will add SERTICA to the RINA portfolio of maritime offerings, while INEXTIA, FOTODOK and RENOMATIC will complement RINA’s businesses in the energy and industry sectors. SERTICA is a fleet management solution, which integrates a wide range of functions…