Hapag-Lloyd Confident About Tariff Resilience
Container shipping liner Hapag-Lloyd will be able to cope with the advent of U.S. tariffs on Chinese products, its chief executive told reporters on Tuesday."It is too early to push the panic button," CEO Rolf Habben Jansen said in the remarks published on Wednesday, when additional 10% tariffs kicked in, and made before U.S. President Donald Trump proposed that his country to take over the Gaza Strip."Fortunately we are able to react when transport flows change…
Hoegh Ready for FID for Hydrogen Deliveries to Germany
Norwegian shipping firm Hoegh Evi expects to take a final investment decision (FID) this year on an ammonia-derived hydrogen project to deliver clean fuel into dedicated German grids, chief executive Erik Nyheim said.The company operates three of its nine floating storage and regasification units (FSRU) for LNG along the German coast, diversifying the country's supply origins since the 2022 energy crisis.With an eye on Germany's long-term decarbonization goals, Hoegh and private firm Deutsche Re
Bayesian's Mast to be Removed Before Recovery
The superyacht that sank off Sicily last year, killing British tech tycoon Mike Lynch and six others, will be recovered once its mast is dismantled in a salvage operation likely to begin after the middle of April, a source close to the matter told Reuters on Wednesday.The recovery of the British-flagged Bayesian, lying on its right side at a depth of around 50 meters (164 feet), could help explain why it sank during a severe and sudden storm off the port of Porticello…
Maersk Initiates Share Buy-Back
A.P. Møller - Maersk has decided to initiate a share buy-back program of up to DKK 14.4 billion (around $2 billion) to be executed over a period of 12 months.The purpose of the program is to adjust the capital structure of the company ultimately through cancellation of shares repurchased. It was in February last year due to market uncertainties caused by disruptions in the Red Sea.The first phase of the share buy-back program will run from February 7 to August 6, 2025.
Costamare Upsizing Fleet
Costamare has reported a net income of $290.7 million as part of its unaudited financial results for the fourth quarter and year ended December 31, 2024, also noting its plans to renew its owned fleet.Gregory Zikos, Chief Financial Officer of Costamare, said: “In the container ship sector the Red Sea crisis led to diversions via the much longer Cape of Good Hope route. These diversions, together with strong cargo demand, absorbed the incremental new building capacity.
ABS Approves Collapsible Floating Wind Platform
ABS has issued a statement of maturity to Aikido’s floating wind platform which is designed to be assembled more quickly in smaller port areas and transported using existing barges. This could enable faster and cheaper development of floating offshore wind projects.As part of the process, ABS witnessed a successful upending demonstration of the Aikido One unit, a 1:4-scale floating wind platform. The…
Support for Jones Act, Concern about China Voiced at Maritime Infrastructure Hearing
US Coast Guard and Maritime Transportation Subcommittee Chairman Mike Ezell (R-MS) addressed a hearing titled “America Builds: Maritime Infrastructure” on Wednesday saying: “It is clearly critical that we must build a safer and more efficient system.”The new chairman, for the 119th Congress, said the Jones Act is quite literally the bedrock and foundation of the nation’s shipbuilding industrial base…
Amogy Expands Operations to South Korea
Amogy, a provider of ammonia-to-power solutions has announced the expansion of its operations into South Korea with the opening of an office in the Pangyo Techno Valley.This will Amogy close to established investors and partners, including SK Innovation, Samsung Heavy Industries, HD Hyundai, Hanwha, SV Investment, and Korea Zinc.Korea’s status as an early adopter in ammonia and hydrogen fuel technologies…
Baltic Exchange Enters Chemical Tanker Market
The Baltic Exchange has launched a new series of chemical and agricultural oil assessments.The Baltic Chemical and Agricultural Oil Assessments (BCAA) will be produced on a weekly basis as of February 2025. The assessments are designed to serve a segment of the freight market – across owners, charterers, brokers and trading companies.The BCAA will offer insights into a series of trade routes covering “easy-chemicals” like benzene, biofuels and caustic soda, as well as vegetable oils.
ASRY Wins Repair Yard of the Year at Global ShipTek Awards
The Arab Shipbuilding and Repair Yard Company (ASRY) has been honored as the Repair Yard of the Year at the ShipTek International Maritime Conference and Awards 2025, held in Dubai last week. The company surpassed numerous regional competitors, securing the award due to its technical expertise and capability to deliver first-rate services that meet client needs.This conference is one of the most prominent events in the maritime industry…
Alfa Laval Acquires NRG Marine
Alfa Laval has signed an agreement to acquire NRG Marine, a U.K.-based provider of ultrasonic anti-fouling solutions for marine, oil and gas, and industrial applications.The move aligns with Alfa Laval’s strategy to provide its customers with environmentally friendly solutions that significantly improve operational efficiency, reduce costs, and extend the asset’s lifecycle. Closing of the acquisition…
DP World Southampton Welcomes First Gemini Cooperation Ship
DP World Southampton has welcomed the arrival of MV Leonidio, the first ship to dock to the port under the Gemini Cooperation agreement, set up by Hapag-Lloyd and Maersk. The MV Leonidio docked at the Southampton logistics hub on February 3 as part of its first rotation on the Gemini Transatlantic AL1/AT3 service.The ship will call at the ports of Rotterdam, Hamburg, and Wilhelmshaven in Northern Europe before crossing the Atlantic to dock at New York…
G2 Ocean Adopts Seaber's Fleet Scheduling Tool
G2 Ocean, a Norwegian ship operator within the open hatch segment, has selected Seaber.io's chartering and schedule optimization solution for its fleet.G2 Ocean aims to leverage Saber's AI-platform to optimize fleet planning, enhance operational efficiency and reduce its carbon footprint.Seaber’s platform provides data-driven decision support for scheduling and chartering, helping commercial ship operators, industrial charterers, and commodity traders maximize fleet utilization and earnings.
Tango FLNG Tops Guaranteed Production at Eni’s Gas Field Offshore Congo
The liquefaction of natural gas onboard the Tango floating liquefied natural gas (FLNG) unit at Eni’s Congo LNG project has exceeded the guaranteed levels.Following the monitoring of the liquefaction of natural gas onboard the Tango FLNG, the actual production of LNG has exceeded the guaranteed levels, with an adjusted annual equivalent production in excess of 0.6 million ton per annum, according to Exmar.Exmar sold Tango FLNG to Eni in 2022…
ClassNK Issues AiP for Low-Pressure Type Coastal LCO2 Carrier
Mitsubishi Shipbuilding, part of Mitsubishi Heavy Industries (MHI) Group, and Nippon Gas Line (NGL) have secured an Approval in Principle (AiP) from Nippon Kaiji Kyokai (ClassNK) for a low-pressure type liquefied CO2 (LCO2) carrier to serve in coastal transportation.Demand for LCO2 carriers is expected to grow in tandem with CCS (carbon dioxide capture and storage) projects involving marine transport…
Chinese Vessel Orders Shoot Beyond $123B, Veson Nautical Finds
Veson Nautical, a provider of maritime commercial management and trading software solutions, has reported that the Chinese newbuilding vessel orderbook has topped $123 billion in 2024, with container ships making around 38% of total vessel orders.Using VesselsValue data, Veson Nautical has summarized the Chinese orderbook by top Chinese ordering companies and insight into the ships currently being built at Chinese yards.Of the top Chinese companies ordering vessels last year…
DOF Gets Two Subsea Services Contracts in Asia Pacific
Norwegian offshore supply vessel operator DOF Group has secured two subsea contract awards in the Asia Pacific (APAC) region.The first of the recent subsea service contracts secured in the APAC region will utilize the DSV Skandi Singapore with related saturation diving services to be executed in Malaysian waters.The vessel will be engaged on the contract for an expected 30 days, starting in the second quarter of 2025.The second contract award…
Fincantieri Bags Multi-Billion Dollar Cruise Ships Order from Norwegian Operator
Fincantieri and Norwegian Cruise Line Holdings (NCL) have signed a multi-billion dollar agreement for the construction of four new cruise ships.With a gross tonnage of approximately 226,000 tons, the new units will be the largest ever built for NCL.The ships will be built at the Fincantieri Monfalcone shipyard, with the first unit to be delivered in 2030 and the others to follow in 2032, 2034, and 2036.Fincantieri deemed the contract ‘very important’, which means its value exceeds $2 billion.
AiP Granted for Low-Pressure Coastal Liquefied CO2 Carrier
Mitsubishi Shipbuilding and Nippon Gas Line have jointly acquired Approval in Principle (AiP) from ClassNK for a low-pressure liquefied CO2 (LCO2) carrier to serve in coastal transportation.Demand for LCO2 carriers is expected to grow in tandem with carbon dioxide capture and storage (CCS) projects involving marine transport of CO2 captured in Japan to storage sites.The concept is based on the potential…
