Long Term News

Aussies are reputed to be a nation of gamblers who would bet on two flies crawling up a wall. That might be anyone’s race, but when predicting what the most popular alternative fuel will be, the odds seem to be increasingly in favor of LNG.It seems there is now a clear pathway where previously LNG was considered more of a transition fuel that didn’t have a strong presence in 2050 shipping fuels. New ambitions and new technologies are making it a stronger contender despite the…

Underwater fouling control hull coatings were once purely a commercial consideration for ship owners and operators. Now it is also a question of how they can help meet global goals to reduce greenhouse gas (GHG) emissions. A ship slowed by fouling means higher fuel consumption, which translates directly into higher emissions intensity.PPG offers PPG SIGMAGLIDE® 2390 fouling release hull coating, based on a 100% pure silicone binder system. This biocide-free product helps to reduce emissions by up to 35% compared to traditional antifoulings…

Crowley, the longest-serving U.S. logistics provider in Puerto Rico, is enhancing the resiliency of its Isla Grande logistics terminal in San Juan with the installation of a microgrid fueled by liquefied natural gas (LNG).The innovative energy system will provide a reliable power supply tailored to support the terminal’s daily operations, such as powering its terminal equipment, refrigerated containers, and administrative and maintenance facilities.The microgrid will produce power that is more reliable…

Lloyd’s Register’s (LR) latest Fuel for Thought report states that LNG remains the dominant alternative marine fuel readily available to the shipping industry. The report highlights LNG’s growing adoption, its cost-effectiveness under tightening emissions regulations and the urgent need to address methane slip to ensure its future as a viable low-carbon fuel.Fuel for Thought: LNG reveals a significant resurgence in orders for LNG-capable vessels, with an expanding global fleet and rapidly growing bunkering infrastructure.

Eni, Fincantieri and RINA have produced a new report: “Sustainable Maritime Transport Outlook” which is focused on the maritime sector and developed with the technical support of Bain & Company Italy.The study aims to contribute to accelerating the decarbonization of the maritime transport sector, in line with the Net Zero target for 2050. It forms part of the broader framework of the agreement signed on March 25, 2024, by Eni, Fincantieri and RINA, with the shared goal of establishing…

Conrad Industries, Inc. has announced its 2024 results and backlog, reporting a net income of $11.2 million and income per diluted share of $2.24 for the 12 months ended December 31, 2024 compared to net loss of $27.0 million and loss per diluted share of $5.39 for the 12 months ended December 31, 2023.The company’s backlog as of December 31, 2024 was $293.8 million, compared to $253.8 million at December 31, 2023, and $244.1 million at December 31, 2022.Johnny Conrad, Chairman and CEO stated, “Our operating results for 2024 improved despite a continued challenging environment.

The Republic of the Marshall Islands (RMI) Registry’s long-term and consistent commitment to high quality shipping continues to be recognized by the United States Coast Guard (USCG). For the 21st consecutive year, the RMI remains a qualifying jurisdiction. It is the only one of the world’s three largest registries to achieve QUALSHIP 21 for this year and the only registry in the world to achieve 21 consecutive years.“Our focus on compliance goes beyond statistics and requirements,” commented Bill Gallagher, President of International Registries, Inc.

Shell Eastern Trading, a subsidiary of Shell plc, has completed the previously announced acquisition of 100% of the shares in Pavilion Energy.Pavilion Energy, headquartered in Singapore, operates a global LNG trading business with contracted supply volume of approximately 6.5 million tonnes per annum (mtpa). The acquisition includes Pavilion Energy’s portfolio of LNG offtake and supply contracts, regasification capacity and LNG bunkering business.This acquisition helps to deliver on Shell’s ambition to solidify its leading position in LNG by growing sales by 4-5% per year through to 2030.

The Marine Environment Protection Committee (MEPC) will meet for its 83rd session from April 7 to 11 April, and efforts to reduce GHG emissions from ships will be top on the agenda.Tackling climate change - Reduction of GHG emissions from shipsThe 2023 IMO GHG Strategy outlines a set of “mid-term measures” aimed at reducing greenhouse gas emissions from international shipping. These measures should consist of:• a technical element: a goal-based marine fuel standard designed to gradually lower the GHG intensity of marine fuels…

Taiwanese shipping firm Yang Ming Marine Transport Corp has purchased three 8,000 TEU methanol dual-fuel-ready container ships from Japanese ship leasing company Shoei Kisen Kaisha.The vessels, being built by Imabari Shipbuilding, are scheduled for delivery between 2028 and 2029.Yang Ming said the acquisition will strengthen its global service network and reinforce its commitment to providing customers with reliable and sustainable transportation service.To support business growth and maintain core competitiveness…

Fincantieri and TUI AG have signed a Memorandum of Agreement (MoA) for the design and construction of two new cruise ships for the Marella Cruises brand.The value of this agreement, subject to financing and other typical terms and conditions, is considered as very important, which for Fincantieri represents the value of over $2.1 billion.The agreement represents a major step for Marella Cruises, which is venturing into newbuilding for the first time and has chosen Fincantieri as its strategic partner for this transformation.At the same time…

The European Union's ban on re-exporting Russian liquefied natural gas (LNG) via EU ports, which aims to reduce Moscow's revenues after its invasion of Ukraine, came into effect this week.The ban, which prohibits the reloading of Russian cargoes at EU ports for export to third countries, was imposed in June 2024, with a moratorium until March 26, 2025 for contracts signed before June 25 last year.Gas market experts say the measure would have little impact as trans-shipments via EU ports to Asia represent less than 10% of total Russian LNG exports…

Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has renewed a shipping contract with a European based automotive manufacturer, lasting five years.The contract has an estimated value of $380 million over the contract period.The new five-year contract lasts starts on April 1, 2025, with the rates are in line with current market levels, according to the company."We are pleased to announce this multi-year agreement with a long-term customer strengthening our existing…

India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources said.The United States is India's second biggest supplier but the two sides are looking to ramp up volumes for India's energy-hungry economy, one of the fastest growing in the world.During Prime Minister Narendra Modi's U.S. visit last month, India pledged to increase U.S.

New York City Economic Development Corporation (NYCEDC) announced the execution of three maritime infrastructure related contracts to upgrade port operations at the Brooklyn Marine Terminal. After decades of disinvestment, NYCEDC is committed to redeveloping the terminal and container port, starting with the removal of four out-of-service cranes across Piers 9A and 10, and the purchase of a new electric Ship to Shore (STS) crane to serve the Red Hook Container Terminal at Pier 10.

We are at the one-year since the Francis Scott Key (FSK) Bridge collapsed over the Patapsco River’s Fort McHenry Channel in Baltimore, Maryland. Nearly 100 percent of the wreckage and debris removal was conducted by the Jones Act private sector U.S. maritime industry. The FSK collapsed at about 1:28 a.m. local time on March 26, 2025 after the container ship MV DALI lost power and collided with one of bridge’s support piers. Six construction workers died in the collapse, while two other workers survived the fall into the freezing water.

Delfin LNG and German company Securing Energy For Europe (SEFE) have signed a 15-year agreement for 1.5 million tons of U.S. LNG per annum, the companies said on Tuesday.Under the agreement, liquefied natural gas would be exported from floating LNG (FLNG) vessels that Delfin wants to deploy off Cameron Parish, Louisiana, Delfin said in a press release.The free-on-board deliveries will commence immediately following the construction and commissioning of the FLNGs, Delfin said.It did not provide a timeline.

ABS and Pacific International Lines (PIL) signed a Memorandum of Understanding (MOU) at Singapore Maritime Week that establishes a framework to collaborate on projects related to maritime technology, sustainability and safety management systems.“To make meaningful progress in this era of rapid change, we need strategic industry collaborations like this one with PIL. We look forward to capitalizing on our unique strengths and capabilities in maritime compliance and cutting-edge technologies to advance safety, emissions reduction and operational efficiency,” said Christopher J.

Crowley has named Jenny Fuss as its chief financial officer, leading all of the company's financial strategies and operations to enhance economic performance and business growth.With more than 20 years of experience as an executive for global institutions, Fuss brings to Crowley’s Senior Leadership Team expertise in management and analysis using data-driven strategies that drive increased profitability and financial effectiveness.Before joining Crowley, Fuss was chief financial officer of Boart Longyear…

Scottish shipbuilder Ferguson Marine (Port Glasgow) has appointed a Graeme Thomson as its new Chief Executive Officer (CEO).Graeme will officially take up the position on May 1, 2025, following on from former interim CEO, John Petticrew.Graeme joins Ferguson Marine from international aerospace, defense and nuclear engineering services business, Babcock, where he has been Programme Director since 2019, overseeing the delivery of the Type 31 Royal Navy frigate program.Prior to joining Babcock…

Danish shipping company Norden has sold five vessels since, retaining 20 owned vessels and 79 long-term leases with purchase options in its fleet.Out of the five sold vessels, three of them were declared purchase options and comprised of two Kamsarmaxes and one Ultramax vessel.In addition to the declared purchase options, we have also sold one MR tanker vessel from the active owned fleet, as well as one Ultramax newbuilding which is scheduled to deliver at the end of 2025.The…

Dubai-based ports and logistics firm DP World and shipping giant Maersk have signed a long-term agreement to boost container-handling capacity and increase weekly vessel calls to support Brazil’s growing trade demands.DP World operates one of the country’s largest private terminals at the Port of Santos. Under the terms of the eight-year agreement, Maersk will introduce additional long-term services and maintain a minimum service level at the port.In the first year, Maersk will launch six new services with eight weekly calls…

Chris-Marine launhced its latest innovation, the VPU 1600, a fuel injector test unit for 4-stroke engines, manufactured at its facility in Brøndby, Denmark.The test unit is designed to efficiently assess the leakage, opening pressure, and spray pattern of fuel injectors, ensuring optimal engine performance. VPU 1600 is designed to deliver a reliable, intuitive solution for verifying injector performance, and its advanced testing capabilities makes it the ideal choice for engine makes…