New Agreement News

Mitsui O.S.K. Lines (MOL) has signed a comprehensive memorandum of understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) to deepen cooperation in the fields of decarbonization, digitalization, and human resources development.MOL and MPA have been cooperating in various initiatives to decarbonize the maritime industry, the new agreement will further promote these initiatives in a wide range of fields.Specifically, the scope of the MoU covers the collaboration in the field of decarbonization in the maritime industry in general.

A subsidiary of Klaveness Combination Carriers ASA (KCC) has finalized an agreement with Jiangsu New Yangzi Shipbuilding Co. Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. to incorporate its first-ever Wind Assisted Propulsion System (WAPS), featuring two bound4blue eSAIL suction sails, on the third CABU III newbuilding.Slated for delivery in Q3 2026, the newbuild will be among the first tanker/dry bulk ships to utilize bound4blue’s WAPS technology, and the two eSAIL units will be the tallest suction sails installed to date…

The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers will resume negotiations next month toward reaching a new six-year contract ahead of a Jan. 15 deadline, they said on Friday.The International Longshoremen's Association union agreed to end a three-day strike on Oct. 3 after it won agreement for a 62% wage hike over six years with the United States Maritime Alliance employer group after significant involvement by the White House…

Amasus has signed a fresh eSAIL (suction sail) contract with Spain’s bound4blue. Under the new agreement, a 22-meter unit will be retrofitted on a 90-meter, 3,000 dwt vessel at Astander Shipyard in Santander, scheduled for mid-2025. The installation will set a new benchmark as the largest suction sail system on a general cargo vessel.Amasus sealed the deal with bound4blue after assessing the impact of its first suction sails on Eems Traveller, which has been sailing with two 17-meter eSAILs since July 2023.

With a critical election fast approaching – in which the Executive Branch, House and Senate are all up for grabs – it is essential to consider the election’s potential impact on the maritime industry before heading to the voting booth.Maritime impact on the electionAt the time of writing, we are two weeks away from the expiration of the current six-year master agreement between the United States Maritime Alliance (USMX) and the International Longshoremen’s Association (ILA) with no new agreement in sight.

The Jefferson County Port Authority (JCPA) has finalized the purchase of approximately 18 acres along the Mississippi River in Herculaneum, Missouri, in a $20 million deal with Riverview Commerce Park, LLC (RCP). This acquisition marks the establishment of the first publicly owned terminal facility in Jefferson County and is set to drive substantial infrastructure advancements and port development in the region.“It has taken significant time, effort and collaboration over the last two years to make this deal a reality,” said Derrick Good, President of the JCPA Board of Directors.

Canada and Norway have signed a deal to expand cooperation between the two allied nations' coast guards, in a move to boost marine safety and environmental protection in high latitudes.The Canadian Coast Guard this week announced it has signed a Letter of Intent (LOI) with the Norwegian Coast Guard "formalizing joint efforts in data analysis, education and training, decarbonization, and Arctic scientific research, and setting the stage for enhanced capabilities in marine security…

Turkish holding company Yilport will invest an expected $1.62 billion to expand two ports in El Salvador and operate them jointly with the local port authority, the government of the Central American country said.Salvadoran President Nayib Bukele, in a post on X on Sunday evening, said the investment is part of his broader economic revitalization plan.Yilport, which also operates ports in Guatemala, Ecuador, Peru and in Europe, is set to invest to triple capacity at Acajutla, El Salvador's biggest port.It will also invest to overhaul La Union, a port in the east of the country which has been c

Enhanced fleet monitoring and data-driven optimization will be deployed across Bourbon’s global marine and logistics fleet of 104 vessels as part of partnership with Opsealog, aimed at boosting efficiency and reducing greenhouse gas (GHG) emissions.The multi-year agreement follows a six-month pilot on 25 Offshore Supply Vessels (OSVs), which demonstrated average monthly emissions savings of 45 to 50 tonnes of CO2 per vessel, according to French maritime services provider Bourbon.These…

AV Dawson, owner and operator of Port of Middlesbrough, has signed a 10-year partnership agreement with Italian offshore cable manufacturer Prysmian. Prysmian first started using Port of Middlesbrough 10 years ago. Over the years, as the offshore wind industry has exploded and Prysmian has secured more contracts, Port of Middlesbrough has become central to the company’s operations and now acts as its northern European marine base.With further growth anticipated, Prysmian has secured additional warehousing and office space at the port as part of the new partnership deal.

Crowley and Teamsters Union Local 901 have reached a new labor agreement to extend their longtime partnership into its sixth decade serving the shipping and logistics needs of Puerto Rico.The agreement, recently ratified by union members, covers the 200 employees who work at Crowley’s Isla Grande Terminal in San Juan until 2029. Employees there serve as port equipment operators, truck drivers and support operations in various other roles important to safe and reliable operations.“We have successfully worked with the Teamsters Union to provide safe…

ABS and U.S. Department of Energy (DOE) are to collaborate on clean energy development in the maritime domain and decarbonization of maritime operations after signing a new memorandum of understanding (MOU).The agreement between the DOE’s Office of Energy Efficiency and Renewable Energy (EERE) and ABS is designed to leverage experience and capabilities from both organizations to support emissions reduction initiatives that benefit the maritime industry.“This new agreement allows…

Provaris Energy and Norwegian Hydrogen AS have announced a new agreement to jointly progress the identification and development of several sites in the Nordic region for the large-scale production and export of hydrogen to European markets.The projects will utilize locally available renewable energy to produce hydrogen for shipment to European ports. This will assist energy-intensive industries in making an impact on their decarbonization plans and target a scale and level of…

Data gathering and transmission for Accelleron’s digital optimization solutions and service agreements will be automated under a new agreement signed by BEMAC and Accelleron’s Japanese joint venture company Turbo Systems United.The MaSSA-One platform has become a core part of BEMAC’s portfolio of ship technologies alongside its power distribution and control systems. The advanced platform collects and stores a wide array of data, including from engines, cargo handling and navigation, and shares the data with shoreside services to provide ship support applications.

Fincantieri has received a highly significant order from Norwegian Cruise Line Holdings for the construction of four new next-generation cruise ships.The order entails the construction of two cruise ships for the Regent Seven Seas Cruises and two for the Oceania Cruises brands respectively.The ships designated for Regent Seven Seas Cruises, scheduled for delivery in 2026 and 2029, will boast a gross tonnage of 77,000 tons and accommodate approximately 850 passengers.Meanwhile…

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it has not seen an increase in ocean freight container shipping rates.Data released Monday by Xeneta reveals average spot rates from the Far East into the US North East Coast (including Baltimore) have fallen slightly (-1%) since the bridge collapse on March 26 to stand at USD 5,421 per FEU (40ft shipping container).When including other US East Coast ports such as New York / New Jersey…

Maritime systems supplier Brunvoll has signed a contract with Simon Møkster Shipping to deliver upgrades for Stril Mermaid and Stril Mariner vessels.In addition to replacing the existing DP2 systems for the two vessels, Brunvoll will also replace the current propulsion and thruster control systems, as well as the independent joystick system.The systems will be replaced with Brunvoll's BruCon DP2, BruCon PTC (Propulsion & Thruster Control), and BruCon JS.This will ensure even better…

MAN Energy Solutions and China Classification Society (CCS) signed a sub-agreement in line with the Strategic Framework Agreement (SFA) the two parties previously agreed in September 2023 in Beijing. The SFA, on ‘Decarbonization and Digitalization in the maritime industry’, is scheduled to last for five years.The new sub-agreement – the third such between the companies – covers MAN Energy Solutions’ new MAN L21/31DF-M (Dual-Fuel Methanol) GenSet designed at the company’s Danish site in Holeby.

The Massachusetts Clean Energy Center (MassCEC), Crowley Wind Services and the City of Salem announced the transfer of ownership and an agreement for site improvements and ongoing operations for the Salem Offshore Wind Terminal.The agreement will kickstart the transformation of the site into the second port built specifically to support the construction of offshore wind farms in Massachusetts. The Salem Offshore Wind Terminal will also support the construction and installation…

Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has signed a multi-year shipping contract with South Korea’s construction machinery company and taken delivery of two vessels.Through its 80% owned subsidiary EUKOR, Wallenius Wilhelmsen welcomed the 2009-built, 6,600 CEU Morning Camilla vessel following the declaration of a purchase option under the long-term charter-in agreement.The purchase price is $30 million, well below the assessed charter-free valuation of around $70 million…

Canada-headquartered water-lubricated and grease-free seals and bearings company Thordon Bearings has appointed propeller manufacturer Bruntons Propellers as its new distributor for the U.K. and Ireland region.The propeller manufacturer will market, supply and service Thordon’s entire marine portfolio of propeller shaft bearings and seals. There is also provision for Bruntons to promote and service Thordon’s products in other market segments.Neil McDonald, Thordon Bearings’ Regional Manager…

WinGD has concluded an agreement with Mitsui E&S Diesel United (MESDU), part of the Mitsui Engineering & Shipbuilding group, that will see WinGD engines being built at its main Tamano works for the first time.The agreement adds considerable engine building capacity and enables WinGD to meet growing demand in a leading shipbuilding market with a reputation for delivering sophisticated, high-quality vessels.WinGD engines have previously been built only at the company’s Aioi Factory, which was acquired from IHI Group when the Diesel United business was sold to Mitsui E&S earlier this year.

Shell LNG has completed the first bunkering of MSC Euribia in Rotterdam, under the agreement with MSC Cruises S.A for Shell Western LNG B.V. (Shell) to provide marine fuels for the line’s second LNG powered newbuild. MSC Euribia is currently operating in northern Europe.This new agreement is in addition to the ongoing cooperation between MSC Cruises and Shell toward achieving broader shared decarbonization objectives, a collaboration which has been in place since 2021.Shell said both companies see LNG as an important lever in supporting their ambition for net-zero emissions by 2050.