Suez Canal Authority to Sell 20% of Subsidiary in Experimental Offer
Egypt's Suez Canal Authority (SCA) is offering a 20% stake in a subsidiary company in line with a government drive to boost the private sector, but selling or leasing the canal is "out of question", SCA head Osama Rabie said on Wednesday.Rabie said the sale of the 20% stake in the Canal Company for Mooring and Lights on the Egyptian stock market was an experiment and indicated that there could be more stake sales in the future."In principle…
Transportation Recovery Fund joins Tankers International VLCC Pool
Tankers International, the world’s largest shipping pool for VLCCs, announced that Transportation Recovery Fund (TRF) operated vessel the TRF Horten has joined its specialist VLCC Scrubber Pool.The TRF Horten (297,638 DWT / Built 2018) was delivered to Tankers International earlier this month. The total size of the Tankers International fleet now stands at 64 VLCCs, and the specialist Scrubber Pool…
Training Tips for Ships: Empowering Seafarers with AI
In the maritime industry, seafarer safety and professionalism are critical to ensuring smooth operations and minimizing risks. As technical advancements continue to reshape every industry including ours, large language models like ChatGPT and Bard have the potential to directly assist seafarers in performing their duties more safely and professionally. So, how can a seafarer leverage these tools to enhance their onboard performance?
MISC Group, WinGD Ink Deal on Ammonia Engines
Malaysia's MISC Group signed an agreement to develop ammonia engines for ships, marking a step towards zero-emission shipping operations, the company said.MISC-owned AET and Akademi Laut Malaysia (ALAM) have signed an agreement with WinGD to develop engines for ammonia dual-fuelled vessels, a first for deep-sea vessels, MISC said in a statement.ALAM also signed an agreement with shipping classification society DNV for the training…
Teekay Takes FuelOpt Tech on 25 Vessels
Teekay Tankers signed agreements to equip 25 additional tankers with Yara Marine Technologies’ FuelOpt propulsion optimization technology. The order follows the installation and evaluation of FuelOpt onboard Zenith Spirit in 2021, followed by a further three vessels in 2022.Teekay placed the new orders in Q1 and Q2 2023 after having confirmed that the use of FuelOpt onboard four of its vessels, operating with steady shaft power…
The Evolving FPSO Landscape – Healthy Demand, Changing Procurement
After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns…
Missing Titanic Submersible Update: Searchers Detect Subsea Sounds
Search teams detected underwater sounds while scanning the North Atlantic for a tourist submersible that vanished with five people aboard during a deep-sea voyage to the century-old wreck of the Titanic, the U.S. Coast Guard said early on Wednesday.The detection of the sounds by Canadian aircraft on Tuesday, day three of the search, was reported by the Coast Guard as the clock ticked down to the last…
Maersk to Convert Ship to Dual-Fuel Methanol
A.P. Moller - Maersk will retrofit an existing ship to have a dual-fuel methanol engine, a first for the container shipping industry.The retrofit is scheduled for 2024, and sister vessels are expected to follow when going for special survey in 2027.“We have set an ambitious net-zero emissions target for 2040 across the entire business and have taken a leading role in decarbonising logistics. Retrofitting of engines to run on methanol is an important lever in our strategy.
MOL Trials BioLNG
MOL and partners have completed a trial of bioLNG (liquefied bio-methane or LBM) derived from cattle manure on the domestic LNG fueled general cargo vessel Ise Mirai.Teaming up on the project with MOL were Air Water Inc., Techno Chubu Company, Kyoudou Kaiun,The trial, conducted in Ise Bay, was Japan's first bunkering of carbon-neutral LBM derived from biomass. The vessel was jointly built by MOL Coastal Shipping, Techno Chubu, and Kyoudou Kaiun, and was delivered in December 2020.
MAN Energy Solutions Sells Gas Turbine Business
MAN Energy Solutions has announced the sale of its gas turbine business to China’s CSIC Longjiang GH Gas Turbine.CSIC Longjiang GH Gas Turbine (GHGT) develops small and medium-sized gas turbines in a 5 to 50 MW range as well as high performance and combustion technologies. The company is a subsidiary of China State Shipbuilding Corporation (CSSC) and is headquartered in Harbin (China).With this portfolio adjustment…
Maersk Mc-Kinney Møller Center for Zero Carbon: We Need to Act Now
The Maersk Mc-Kinney Møller Center for Zero Carbon has published a call for IMO member states to act decisively on emissions targets at MEPC 80.The critical role of IMO member states at MEPC 80 report has been published with the warning: “We need to act, and we need to act now.”The Center notes that IPCC's most recent synthesis report delivers a clear message of caution: the pace of global surface temperature rise is surpassing any other period in the last 2…
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