Ammonia Startup Amogy Raises $139 Million
Brooklyn, N.Y. startup Amogy on Wednesday announced it has raised $139 million to begin manufacturing its ammonia-to-power technology and bring its first product to market in 2024.The Series B-1 fundraising round was led by SK Innovation, joined by other global investors including Temasek, Korea Zinc, Aramco Ventures, AP Ventures, MOL PLUS, Yanmar Ventures, Zeon Ventures and DCVC. “We are working from a place where we have no doubt that our technology will change the world…
UBS Likely to Shrink Credit Suisse's $10 Billion Shipping Portfolio
UBS Group AG will likely shrink Credit Suisse Group's $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday.UBS could also try to sell the portfolio, but doing so could prompt owners to move their accounts elsewhere, the WSJ reported, citing people familiar with the matter.About half of the shipping portfolio involves Greek ship owners that use their deposits in the bank's wealth management arm as collateral to
Crowley Hires Coplen as Wind Services VP
Crowley named Mark Coplen as vice president of project management for Crowley Wind Services, where he will be a key leader in advancing the company’s growth and market leadership in the offshore wind industry. In his role, Coplen will expand Crowley Wind Services’ project management capabilities to support customers in its offering of engineering, procurement and construction management for the offshore wind market.
Port of Montreal Measuring Vessels' Carbon Footprint
The Montreal Port Authority (MPA) and Global Spatial Technology Solutions (GSTS), a company that specializes in applying artificial intelligence (AI) to shipping, announced the launch of a new project to measure and reduce the carbon footprint of vessels using the Canadian port.Based on the OCIANATM modular platform, the project provides real-time data on the route, speed and position of vessels heading to Montreal.
China Firm Wins Solomon Islands Port Project as Australia Watches On
The Solomon Islands has awarded a multi-million-dollar contract to a Chinese state company to upgrade an international port in Honiara in a project funded by the Asian Development Bank, an official of the island nation said on Wednesday.The United States and its allies, including Australia, New Zealand and Japan, have held concerns that China has ambitions to build a naval base in the region since…
Hamburg Port Closed to Large Ships Due to Union Strike
The Hamburg Port Authority (HPA) has closed the port to large ships because of a strike announced by the Verdi union over wages, it said on Wednesday."Due to the massive restrictions to be expected from the announced warning strikes, the administration has decided to block the Elbe for ships requiring pilotage from around 10 a.m. today until further notice," a spokesperson for HPA said.From 5.30 p.m.
MTU Gensets Ordered for US Navy's Second Constellation Class Frigate
The Power Systems division of Rolls-Royce has been selected to supply a further four of its mtu naval generator sets for the USS Congress (FFG-63), the second ship in the U.S. Navy’s Constellation Class Guided-Missile Frigate program, previously known as the FFG(X) program. Rolls-Royce has made significant investment at its production facilities in Aiken, S.C. and Mankato, Minn. to support the program…
Steps To Take Now For New Maritime Infrastructure Funding Opportunities
Much has been said both in Congress and by the current administration of the need to restore and enhance our nation’s transportation infrastructure, including its maritime transportation infrastructure. Recent legislation, such as the Infrastructure Investment and Jobs Act (IIJA, also known as the Bipartisan Infrastructure Law), the Inflation Reduction Act, the National Defense Authorization Act (NDAA) for fiscal year (FY) 2023…
Ship Topples in Dry Dock in Scotland Injuring 25
Twenty-five people were injured when a ship came off its holding and tipped on its side in a dry dock in Leith, Scotland on Wednesday, the Scottish Ambulance Service said, with 15 taken to hospital.Ten people were treated and discharged at the scene, the emergency service added in a statement.Pictures posted on Twitter showed a large ship propped up against the wall of a dry dock.
WuHu Shipyard Starts Building Orca Series Heavy Lift Vessel for Jumbo and SAL
China's WuHu Shipyard has cut the first steel for an Orca series heavy lift vessel being built for an alliance between SAL Heavy Lift GmbH and Jumbo Shipping.Back in September 2022, SAL and Jumbo said they had signed building contracts for four firms plus two optional new-generation heavy lift ships with Wuhu Shipyard."After a long and extensive planning phase, our Orca newbuilding series has finally kicked off!
DeepOcean's Fleet Gets a Boost with Olympic Ares Vessel Charter
Subsea services firm DeepOcean has taken the Olympic Ares multi-purpose support vessel (MPSV) on a two-year charter. The vessel is owned by the Norwegian shipowner Olympic Subsea.The vessel is a modern construction support vessel equipped with a 250 Te crane. It will provide subsea inspection, maintenance, and repair (IMR), light construction, and recycling services to DeepOcean’s clients in the offshore renewables and oil and gas industries.Øyvind Mikaelsen…