Maritime Industry News

The global shore power market is estimated to be valued at USD 1.4 billion in 2019 and is projected to reach USD 2.7 billion by 2024, at a CAGR of 13.3% during the forecast period.Reduction of low-frequency noise and emissions at ports, a growing number of cruise liners in the shipping industry, and installation of retrofit shore power systems have increased the demand for a shore power system, said a report by ResearchAndMarkets.However, huge installation & maintenance costs…

The Baltic Exchange, the a membership organisation for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts, has launched a new assessment to track the cost of operating vessels.Initially covering a range of dry bulk vessels, the service will also be expanded to tankers and other sectors.The Baltic Operating Expense Index (BOI) will be published quarterly and based on assessments from three leading independent third-party ship management companies: Anglo-Eastern…

Associated British Ports (ABP), the UK's largest port operator, teamed up with the Women in International Shipping and Trade Association (WISTA UK) to organize a reception to promote the ongoing effort to drive gender diversity across the maritime industry.The event celebrated the progress made to date and discussed ways to accelerate this momentum, it said.Set in London's iconic City Hall building during the first day of London International Shipping Week (LISW), London's premier shipping industry conference…

Dutch shipbuilding and engineering conglomerate Damen Shipyards Group is once again holding its one-day-only annual industry networking event at its headquarters at Gorinchem in the Netherlands.Following three successful editions as the Damen Workboat Show, this year it has been rebranded as the Damen Maritime Festival to better reflect the full Damen product range as well as the day’s lively atmosphere and will take place on Thursday 19 September.As before, the festival will…

As Brexit approaches,  the UK needs to follow some key characteristics of the Strong Ports to thrive post its exit from the EU, given that the global trade and the maritime sector face many challenges.Global trade, and the maritime sector that enables so many of its flows, faces uncertain and challenging times, according to the UK Major Ports Group.Nowhere more so than the UK, with Brexit - in whatever form it takes - dominating the agenda. But ports are long horizon businesses…

The Panama Canal and the Port of Rotterdam signed a Memorandum Understanding (MOU) to promote international trade between Europe and the West Coast of South America.Through this agreement, the two organizations will work closely to optimize operations while encouraging economic growth and the exchange of information on new business development opportunities, including logistics parks and port development projects."The Expanded Canal continues to reshape global trade routes today…

Corvus Energy, the Norwegian-Canadian designer and manufacturer of energy storage solutions for marine propulsion and electrical systems opens  a new automated battery factory in Bergen, Norway to meet demand.“There is an electric revolution going on in the maritime sector, and we want to deliver the best solutions in the industry,” said Geir Bjørkeli, CEO of Corvus Energy.“The Corvus team in Vancouver developed the groundbreaking battery solution that accelerated adoption of zero-emission and hybrid marine propulsion systems, particularly in Norway.

Global research recently conducted by Lloyd’s Maritime Academy has revealed that over 41% of people surveyed still receive no funding from within their business for training, with a mere 20% stating that they receive 75-100% funding. Following over 500 responses from professionals around the world and from different sectors of the maritime industry, the research also highlighted that there is still an alarmingly high percentage of companies experiencing a retention problem. Ted Bailey, Head of Digital Learning at Lloyd’s Maritime Academy states: “Given the funding figures it comes as no surprise that we had 40% of our respondents answer yes to the question: ‘Is retention a challenge for your business?’.

Dr. Ricaurte Vásquez Morales was sworn-in during a ceremony held at the Panama Canal Administration Building in Panama City, becoming the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019.Administrator Vásquez an economist with more than 30 years’ experience in the public and private sector said: "Just a few months short of the 20th anniversary of the transfer of the Canal to the Panamanian people, we face a distinctly different reality today.

Videotel has announced that it is offering the maritime industry free access to its new training package called: “The 2020 Sulphur Regulations – Achieving Compliance”.As the first January 2020 is rapidly approaching, this free awareness video clearly sets out the new regulations, where and how they apply, how they are to be enforced and what crews and owners need to do to be compliant.In essence there are three main ways to achieve compliance:Burn compliant fuelsUse alternative…

The “Ocean of Opportunities Challenge”  (O3 Challenge), a worldwide contest aimed at creating new value through open innovation in the maritime industry, has been successfully celebrated by NYK Group.This was the second consecutive year for the challenge, which is planned and conducted by NYK Group companies Symphony Creative Solutions Pte. Ltd. (SCS) and Ocean Network Express Pte. Ltd. (ONE), together with NUS Enterprise.The contest began in February with ONE issuing six challenges related to its work processes.

NYC Economic Development Corp. Signs on as Event Sponsor.The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, proudly announce their partnership in hosting of the Ocean Wind Energy Conference on Thursday, September 26, 2019 at 9 a.m. in the Maritime Academic Center, SUNY Maritime College. Featured presentations by industry leaders such as Keynote Speaker Dr. Alana Duerr, Director of DNV GL…

“Driving the maritime transition”: In times of the global climate debate and the digital transformation, SMM 2020 will once again be the focal point for decision-makers in the maritime industry.Topics that are currently high on the industry's agenda are highlighted in the new issue of the SMM Maritime Industry Report: Shipping, shipbuilding and supplier companies are especially interested in alternative propulsion technologies and attractive niche markets.The year 2020 marks a major turning point in international shipping: On January 1…

The Vessel is on track to commence deliveries of compliant marine fuels from Q1 2020.Singapore-based bunker tanker owner and operator Sinanju Tankers Holdings (“Sinanju”) achieved a new milestone today with the launch of the republic’s inaugural LNG-powered conventional bunker tanker.The 7,990 dwt vessel was christened “Marine Vicky” by her Lady Sponsor, Ms. Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore (MPA) at a launch ceremony held in Nantong, China at Keppel Nantong Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine (“Keppel O&M”).Ms.

Norwegian ocean research organization REV Ocean has appointed V.Ships Leisure as ship management partner for the world’s largest research and expedition vessel.V.Ships Leisure, part of V.Group, will provide a tailored suite of ship management services for the new vessel, which is scheduled for completion in 2021. The ship will be equipped for conducting research that covering the whole of the marine ecosystem using advanced technology developed by Norwegian knowledge clusters…

The provider of information and communications technology (ICT) for the maritime industry eMARINE Global  signed a contract with the Republic of Korea Navy for the maintenance of its Anti-Submarine Warfare Team Trainer (ASWTT) at the Jin-Hae Naval Base.The contract is valued at an estimated 920 million won (US$0.76 million), said the Maritime ICT Provider based in South Korea which also have operations in the US.eMARINE has maintained the ASWTT virtual reality simulator, used to simulate battles between warships and submarines, since 2017.

U.S. Transportation Secretary Announces New Members of U.S. Merchant Marine Academy Advisory Board.U.S. Transportation Secretary Elaine L. Chao today announced the appointment of seven new members to the United States Merchant Marine Academy (USMMA) Advisory Board. The USMMA Advisory Board serves as an independent body whose primary purpose is to examine the course of instruction and management of the Academy to further the accomplishment of its mission, execute its strategic plan…

As maritime digests a number of historical changes, Norway’s Fjellstrand shipyard wants to put aside the rule book and look at the whole process in a new way, reducing engineering costs up to 70% and production costs up to 20%.The process of designing and building a ship, even in today’s highly standardized mass manufacturing environment, remains largely a one-off, one-of-a-kind design and build. Ships are most often built to a shipowner’s or operator’s specific requirements, which are often based on fixed parameters such as speed…

Women make up only an estimated two percent of the global maritime industry. In the U.S., the statistics are a little better, with less than eight percent of ship and boat captain operator roles held by women.Still, for a female to have the opportunity to train up to ship captain is considered “unique.” However, as predictions are being made that there will be a shortage of more than 140,000 deck or ship officers worldwide by 2025 (BIMCO/ICS), we will see more accomplished women take the helm and lead the industry forward.

The largest cohort of 27 port masters, harbour masters and middle managers from maritime and port authorities from Africa, Asia, the Caribbean, Europe, Latin America and Oceania attended the sixth Maritime and Port Authority of Singapore (MPA) Academy’s Port Management Program (PMP).Developed and organized by MPA Academy, the five-day Program will be delivered by industry practitioners as well as senior officers from the MPA. Some of the key subjects that will be covered during the Program include maritime safety…

C-Job Naval Architects said that Mario Gitte has been appointed Vice President Engineering and Edward Verweij has been named Vice President Sales. Together they will be the executive management team that will run the company’s new branch office in Houston, Texas.Gitte is a licensed Professional Engineer in the state of Texas and previously served as Senior Principal Engineer in the Advisory Services Group at American Bureau of Shipping (ABS). Mario is a graduate from the United States Coast Guard Academy who prior to joining ABS worked at a shipyard in south Louisiana.

Ahead of the G7 meeting at Biarritz from August 24-26, French President Emmanuel Macron, accompanied by Economy and Finance Minister Bruno Le Maire, Minister of Labour Muriel Pénicaud, and Deputy Minister for the Ecological and Inclusive Transition Brune Poirson, this afternoon has invited to the Elysée Palace representatives of the shipping industry including global leader CMA CGM.On this occasion, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, will…

300 students from Institute of Technical Education, junior colleges, polytechnics, and universities participated in the 6th edition of the Singapore Maritime Dialogue (SMD), which featured a lively panel discussion on the theme of ‘Maritime Singapore in the Age of Digitization’.The group exchanged views on the digital revolution taking place in the maritime industry with invited panelists comprising Guest-of-Honour, Dr Lam Pin Min, Senior Minister of State for Ministry of Transport and Health…