Shipbuilder Diverse Marine Launches Client Finance and Lease Program
U.K. shipbuilder Diverse Marine has introduced its own finance and lease program designed initially for the financed construction of offshore wind crew transfer vessels (CTV).Funding for offshore wind CTVs has been challenging, and the company said it has observed over the last 24 months pressures felt by clients and vessel owners trying to justify builds in the U.K., with conventional vessel procurement methods uncompetitive against yards in Europe…
Committed Owners Supporting Green Financing Landscape
Hamburg-based ship finance platform oceanis’s Q4 State of Ship Finance Report comes with a thank-you to shipping companies that are committed to the green transition.Over the past decade, oceanis has seen large changes to the ship financing landscape towards greener projects. The most obvious green financiers are the Poseidon Principles banks, the initiative launched in 2019 whose signatories manage 70% of the world’s shipping loans.
Mintra Launches Learning Solution with Kongsberg Digital Simulators
Mintra have unveiled a new model of immersive digital learning course which includes Kongsberg Digital cloud-based simulations.The new course model weaves together a comprehensive learning framework that merges interactive digital learning and assessment with practical skills through simulation. The outcome is a technically accurate, high-quality, cloud-based, immersive learning experience that enables…
Project Validates Benefits of 3D Model-Based Classification Approvals
Bureau Veritas (BV), the Shanghai Merchant Ship Design & Research Institute (SDARI) and NAPA have completed the first phase of a Joint Development Project (JDP) to enable 3D model-based approvals for the classification of ships. The project validated the feasibility of 3D model-based approvals where classification reviews are directly based on the 3D model provided by the designer, rather than requiring multiple conversions to 2D drawings, which is the traditional process.
Equinor’s Economic Boost to Local Industry Increases
A new report shows that deliveries to exploration, operation and modification of Equinor-operated fields and onshore plants in Norway exceeded 93 billion NOK in 2022, an increase of approximately 13% from the previous year.The report was presented at Equinor’s autumn conference by the company’s executive vice president for Exploration and Production Norway (EPN), Kjetil Hove, together with the five trade unions in Equinor: Industri Energi…
US Approves Equinor and BP's Empire Wind Offshore Project
The U.S. Department of the Interior on Thursday approved the Empire Wind offshore project, owned by Equinor and BP, the sixth commercial-scale wind farm to be greenlit under President Joe Biden's administration.Empire Wind is among several offshore wind projects facing construction and financing cost blowouts that the troubled industry says would not be covered by existing power sales contracts, but…
Accelerating US CTV Market Development with Hybrid Solutions
As the world looks to renewable energy sources to combat climate change and reduce reliance on fossil fuels, offshore wind has emerged as a promising frontier in the United States. A report by the University of California Berkeley released in August concluded that due to the nation’s long coastlines with sustained winds in many areas and falling turbine costs, offshore wind could feasibly supply between…
Great Lakes Towing Buys Historic Fireboat
The Great Lakes Towing Company (GLT) announced it has acquired a 62-year-old fireboat from the city of Cleveland, Ohio.The vessel, Anthony J. Celebrezze, was constructed in 1961 by Paach Marine in Erie, Pa. and was used by the Cleveland Fire Department until it was replaced with a new vessel, Garret A. Morgan, in June 2023 and put up for auction.Auction data shows the vessel was sold on November 14 for just over $41…
New USCG Cutter Departs Ingalls
The U.S. Coast Guard’s newest Legend-class national security cutter, Calhoun (WMSL 759), departed from HII’s Ingalls Shipbuilding division on Sunday, November 19.“We congratulate the NSC team of shipbuilders on a job well done,” said Ingalls Shipbuilding NSC Program Manager Amanda Whitaker. “Watching Calhoun sail away is a proud moment for us all and we look forward to watching this highly capable…
River Rhine in South Germany Closed to Shipping, May Reopen Soon
Parts of the river Rhine in south Germany remained closed to shipping on Tuesday after heavy rain this month but falling water levels could lead to a reopening later on Tuesday, navigation authorities said.Rhine river shipping remains stopped around the chokepoint of Maxau in south Germany, the German inland waterways navigation agency WSA said.
China Unlikely to Repeat Last Winter's Surge of Fuel Exports
A surge of diesel and gasoline exports from China in the last northern winter eased then-prevailing fuel shortages in Asia but a repeat performance this year is unlikely.China's exports of refined products have eased from high levels in recent months, partly as a result of stronger domestic demand, but a lack of available quotas and shrinking profit margins for fuels have also played a role.In the…
IHI, Vopak Ink Agreement to Develop Ammonia Terminals
Dutch tank storage company Vopak has signed an initial agreement with Japan's IHI Corporation to explore the development and operation of ammonia terminals, as they expect demand for the low-carbon fuel to grow amid energy transition.The companies will lean on their experience in building ammonia storage tanks and terminals to focus on developing large-scale ammonia storage terminals that will allow for economical distribution of the fuel…
Maersk Winds Down Operations in Syria
Danish shipping company Maersk will from Dec. 1 no longer offer shipments to or from Syria, it said on Tuesday.Maersk said in a statement its operations in Syria are already limited as a result of international sanctions."This has recently become even more challenging logistically, and we have therefore made the decision to close our operations down completely," it said.(Reuters - Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom)
Stolt Tankers Orders Six Tankers from Wuhu Shipyard
London-headquartered Stolt-Nielsen Limited announced its subsidiary Stolt Tankers B.V. has reached an agreement with Chinese shipbuilder Wuhu Shipyard to construct six 38,000 deadweight tonne stainless steel parcel tankers for delivery between 2026 and 2028, with additional options for a further six newbuildings.The new ships will have 30 stainless steel cargo tank segregations offering a wide range of cargo flexibility…
Maersk and The Ocean Cleanup Forge Ahead in Plastic Capture
Offshore vessel owner Maersk Supply Service, A.P. Moller – Maersk, and The Ocean Cleanup have agreed to extend their collaboration to complete the validation of the system by The Ocean Cleanup which is said to be able to consistently capture significant quantities of plastic from the ocean. The Ocean Cleanup, which has established the plastic capture system said the next step for The Ocean Cleanup is to validate the system from an engineering and ecological perspective…
Meet the CIO: Erika Graziuso, Crowley
Erika Graziuso, Chief Information Officer, Crowley, brings a breadth and depth of non-maritime experience to bear in her quest to drive Crowley’s digital transformation in the name of decarbonization, holistic transportation efficiency and crew attraction and retention.Emulating best practices from industries outside of maritime has been a mantra in boardrooms and conferences for decades, as traditional maritime mindset has…
Havfram Secures Loan for Offshore Wind Vessel Construction
Offshore wind installation company Havfram has signed a Senior Secured Green ECA Term Loan Facility to fund its two wind turbine installation vessels ("WTIVs"), currently under construction at CIMC Raffles in China. The Facility was entered into with a syndicate led by DNB Bank ASA (Coordinator, Bookrunner, Green Loan Advisor and Agent) with SpareBank 1 SR-Bank ASA, Credit Agricole, Sparebanken Vest and Rabobank as Mandated Lead Arrangers and with Export Finance Norway as ECA lender.
