Digital Transformation of Maritime Freight to Reach USD 205bln by 2023
New digitization solutions, such as big data, blockchain, automation, drones, and robotics, are enabling the maritime freight industry to introduce game-changing approaches that will significantly reduce or eliminate non-value-added activities. Over the next five years, maritime suppliers across the value chain will increasingly adopt solutions to address security, overcapacity and accurate cost models, according to new research from ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.
Keppel to Build South East Asia’s First LNG Bunkering Vessel
Keppel Offshore & Marine Ltd (Keppel O&M) through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd, has secured a contract from FueLNG, a joint venture between Keppel O&M and Shell Eastern Petroleum (Pte) Ltd, to build South East Asia's first Liquefied Natural Gas (LNG) bunkering vessel valued at approximately S$50 million. Scheduled for completion in 3Q 2020, the dual-fuel LNG bunkering vessel will have a capacity of 7,500 cubic metres. FueLNG will receive a grant of up to S$3 million as part of the Maritime and Port Authority of Singapore's (MPA) LNG Bunkering Pilot Programme (LBPP).
Powering Ships with Plastic in Amsterdam
In the Port of Amsterdam, a new factory is being built that could revolutionize the way we dispose of plastic waste. Utilizing groundbreaking technology, the facility will use previously unrecyclable plastic to create fuel for diesel powered cargo ships. The group behind the facility is Bin2Barrel, a Dutch company founded in 2012 by waste management entrepreneurs Floris Geeris and Paul Harkema. While the chemical recycling technology used in the past has worked, Bin2Barrel is the first company to utilize it commercially.
SEA\LNG Welcomes First Shipborkers in the Coalition
SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, today announced that it has welcomed Exeno Yamamizu Corporation (Yamamizu) & Fearnleys AS as the first shipbroking companies to join its membership coalition. The coalition whose membership currently stands at 33 organisations, is committed to uniting knowledge and expertise from across the LNG value chain, including shipping companies, ports…
Marine Insurance’s Risk Rating Revolution
Why insurers cannot afford to be left behindAccording to Maersk, “everything that can be digitized will be digitized”, and there is no doubt that the world of shipping is currently undergoing a digital revolution. From vessel movement data to port statistics and engine diagnostics and data, the latest technology empowers insurers to segment and optimize their existing portfolio, identify new opportunities and offer truly connected policies.However, risk measurement and ratings remain an issue.
Zero Emission Ships: Comparing Fuel Choices
There's a new report out from the Sustainable Shipping Initiative (SSI) -- authorted by Lloyds Register (LR) and University Maritime Advisory Services (UMAS) -- that examines different fuel options and costs as increasingly the world's oceangoing fleet is pushed toward decarbonization. As a back drop, as Mariitme Reporter & Engineering News reports in its May 2018 edition with its cover feature interview with Kitack Lim, Secretary General of the International Mariitme Organization (IMO), the IMO mandate is to cut emissions 50% by 2050, as agreed in mid-April 2018, as compared to 2008 levels.
Wallenius Wilhelmsen Acquires Syngin Technology
Wallenius Wilhelmsen, the global finished vehicle logistics provider, has signed an agreement to acquire 70% of the membership interest in Syngin Technology for an initial purchase price of USD 22 million on a cash and debt free basis. "The future of logistics lies in combining digital services, physical assets and a deep understanding of logistics flows. With Syngin we boost our digital capabilities, setting us up to better support the changes we see in our customers' needs for the future", says Craig Jasienski, President and CEO of the Wallenius Wilhelmsen group.
Equinor Acquires Energy Trader Danske Commodities
Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company.
IEnova to Build Liquid Fuels Project in Sinaloa, Mexico
Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova (IEnova), has been awarded a 20-year contract by the Topolobampo Port Administration in Mexico to build and operate a receipt, storage and send-out liquid fuels marine terminal in the state of Sinaloa. With a projected investment of approximately $150 million, the first phase of the new liquid fuels terminal will have a storage capacity of 1 million barrels of fuel, including gasoline and diesel. Operations are expected to commence in the fourth quarter of 2020.
Total Acquires Direct Energie
Total and Direct Energie announce the completion of the acquisition today by Total of 73.04% of the share capital of Direct Energie, for 42 euros per share, representing approximately 1.4 billion euros. This acquisition, which is subsequent to the satisfaction of all conditions precedent referred to in the agreements executed on April 17, 2018 with Direct Energie’s main shareholders, was followed today by the filing by Total of a mandatory tender offer for the shares in Direct Energie which are not yet held by Total, at the same price of 42 euros per share.
Keppel Wins FPSO, FSRU Contracts
In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group, to undertake the topside module fabrication and integration of the FPSO Carioca MV30, a Floating Production Storage and Offloading vessel (FPSO). This is the sixth FPSO collaboration between Keppel FELS Brasil and MODEC.In Singapore, Keppel Shipyard Ltd (Keppel Shipyard) has been entrusted with the conversion of a LNG Carrier to a Floating Storage and Re-gasification Unit (FSRU) by a leading global operator of oil and gas production vessels.Mr Chris Ong, CEO of Keppel O&M, said…
DNV GL Boosts Investment in 3D Printing
The new center, which is supported by the Singapore Economic Development Board (EDB), will focus on developing competence including qualification, certification and training for additive manufacturing (AM), also known as 3D printing. While AM is raising more and more interest in various industries, as the benefits of speed and cost against traditional product manufacturing become apparent, the adoption level in the O&M sector is still low due to challenges in qualification and certification.
Milaha Reports USD 129 mln Net Profit for 2017
Qatar Navigation (Milaha) reported a net profit of QAR 470 million (USD 129 mln) for the twelve months ended December 31, 2017. Operating revenues decreased by 2% to QAR 2.491 billion for the twelve months ended December 31, 2017, down from QAR 2.551 billion for the same period in 2016. Operating profit decreased by 19% to QAR 448 million for the twelve months ended December 31, 2017, down from QAR 555 million for the same period in 2016. Earnings per share decreased to QAR 4.14 for the twelve months ended December 31, 2017, down from QAR 6.26 for the same period in 2016.
NL Networks, Portcall.com win Wärtsilä Start-up Challenge
The first Wärtsilä SparkUp Challenge, an initiative to find innovative start-ups to develop ideas for the smart shipping value chain, has been won by KNL Networks and Portcall.com. The prize for the winners is a four-month collaboration and co-creation in the Wärtsilä Digital Acceleration Centre (DAC) beginning in March. In addition, they will receive a capital grant of 50,000 euros. “We are extremely delighted and proud to announce these winners. This is an amazing opportunity for both us and the winners.
SEA\LNG Ties with Two More Japanese Members
SEA\LNG, the industry coalition aiming to accelerate adoption of liquefied natural gas (LNG) as a marine fuel, has added two more Japanese members: "K" LINE Group and Uyeno Group. “K” LINE and Uyeno Group bring valuable insight from the thriving LNG value chain in Japan and elsewhere, and their acceptance into the coalition is demonstrative of SEA\LNG’s commitment to facilitating further growth in the region. Peter Keller, SEA\LNG chairman and executive vice president, Tote, said: “Collaboration…
First LNG from Cheniere US to GAIL India
Cheniere Energy and GAIL (India) today marked the commencement of their 20-year Sale and Purchase Agreement (SPA) to supply U.S.-sourced liquefied natural gas to India from Cheniere’s Sabine Pass liquefaction facility in Louisiana, with one of GAIL’s first shipments departing from the facility. The ship will set sail after today’s ceremony to mark the occasion at Sabine Pass in the presence of Cheniere President and CEO Jack Fusco and GAIL Chairman and Managing Director Mr. B.C. Tripathi, who were joined by Consul General Dr. Anupam Ray, as well as representatives from Cheniere and GAIL.
Frank Coles Delivers Keynote at the Transas Global Conference
You know if Elon Musk was to attend a plenary session of the IMO, he could be forgiven if he thought he was watching a reenactment of the Charles Dickens book Hard Times, with Mr. Gradgrind the Headmaster. What a sad reflection of our industry. Imagine instead! Imagine a world where logistics companies and cargo owners drive ship design, innovation and demand the level of quality in ship management. Where maritime assets are operated in a global ecosystem of tracking, monitoring and safety. Imagine a world where ships are operated in a “ship as a service” or “system of systems” infrastructure.
DNV GL JDP for Marine Batteries
Classification society DNV GL has announced the launch of a Joint Development Project (JDP), designed to advance the understanding of the use of lithium-ion batteries in the shipping industry. More than a dozen partners from the entire value chain have joined the initiative, including flag states, research institutions, battery and propulsion suppliers, fire detection and extinguishing system providers, and ship owners, operators and yards. “Including batteries in ships, whether as a hybrid or fully electric system…
ADNOC Signs Major Offshore Concession Agreements with Total
The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain…
Service Ops Vessel Concept for Offshore Wind
A new multi-million Euros European research and development project will develop new Service Operation Vessel (SOV) designs and business concepts to meet the urgent and growing needs of the offshore wind operations and industry. The project is co-led by ARTTIC and Rolls-Royce Marine. As wind farms are moving further offshore, operations and maintenance (O&M) providers are following them into more hostile waters with more challenging service demands. The relatively high cost of wind farm maintenance today has a negative impact on the competitiveness of offshore wind produced electricity.
Cepsa Debuts South Europe's First Multi-product LNG Supply Vessel
Cepsa presented in the Port of Huelva the first multi-product marine fuel supply vessel in southern Europe. The vessel, based in the port of Huelva, will provide ship to ship Liquefied Natural Gas (LNG), in addition to traditional fuels: fuel oils and diesel. State-of-the-art technology has been used in its construction including a new fuel measurement system, based on Mass Flow Meters technology, which guarantees the accuracy in the supply of fuel to vessels. The new multipurpose vessel (OIZMENDI)…
World's First Autonomous Shipping Company Formed
The road toward autonomy has taken a major step with the announcement that Wilhelmsen and Kongsberg are collectively taking the next step in autonomous shipping by offering a complete value chain for autonomous ships, from design and development, to control systems, logistics services and vessel operations. The new venture is dubbed "Massterly". What is Massterly? The Massterly plan is to have land-based control centers monitor and operate autonomous ships globally, tapping Kongsberg's tech solutions and Wilhelmsen's logistics and ship management operations.
Autonomous Shipping Firm Massterly Appoints Top Brass
The world’s first autonomous shipping company, Massterly, has appointed Tom Eystø as managing director and Per Brinchmann as chair of the Massterly board.Announced on April 3, 2018 as a new joint venture company between Norwegian ship owner Wilhelmsen and systems and solutions provider KONGSBERG, Massterly sets out to offer a complete value chain for autonomous vessels, from design and development, to control systems, logistics services and vessel operations.“Autonomy will revolutionize…