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…
Report: EU Needs More Action on Decarbonization
The newly released European Maritime Transport Environmental Report 2025 highlights progress made in sustainable maritime transport but challenges still persistAccording to the report, the sector is making progress towards greater sustainability but will need to increase its efforts over the coming years to play its part in meeting 2030 EU climate and environment goals and achieving a climate neutral…
Singapore Navy USVs Enter Operation
The Republic of Singapore Navy’s maritime security unmanned surface vessels (USVs) began operational patrols in January 2025, operating alongside manned ships such as the RSN’s Littoral Mission Vessels (LMVs) to enhance the security of Singapore’s waters. The 16.9-meter USVs add another layer of surveillance and operational response. They conduct patrols, and when required, will investigate and interdict suspicious vessels.
Surging Water Led to Barge Striking Lock Gate
Surging water from the Mississippi River led to a 2023 barge strike on a gate at Algiers Lock in New Orleans, the National Transportation Safety Board has reported.On July 4, 2023, the towing vessel Kitty was pushing two loaded tank barges into the Algiers Lock during low water conditions. The tow surged within the lock chamber and the lead barge struck one of the lock gates. The contact did not result in any injuries or pollution.
Tariffs Risk Working Against the Imposer’s Interests
“When a country that exports large quantities imposes tariffs, it risks working against its own interests,” says Stamatis Tsantanis, Chairman & CEO of Greek shipping companies Seanergy Maritime and Maritime United.“Other nations adjust by sourcing commodities elsewhere. For example, the first time President Trump imposed tariffs on various goods, China responded by rerouting its imports of maize, corn…
Lloyd's Register Introduces New Notation for Fin Stabilizers
Lloyd's Register (LR) has introduced its first class notation for fin stabilizers. With the increasing demand for enhanced passenger experiences on modern cruise ships, fin stabilizers have become integral to providing a smooth and enjoyable journey.Located under the waterline on the side of a ship's hull, fin stabilizers provide a roll damping effect, counteracting the ship's natural roll and ensuring a stable voyage.The new class notation covers the strength…
Wind-Assist Retrofit Market Ratcheting Up
A surge in industry interest combined with systems builders and yards scaling up production and installation capacity, is set to accelerate growth in orders for wind-assisted propulsion systems (WAPS), says DNV in a new whitepaper that examines the technologies, their onboard implementation and potential fuel savings.There has been a rapid uptake of WAPS in the global fleet since 2021, with 52 seagoing…
Trump Pressures Iran; Iran Threatens Strait of Hormuz Closure
U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.The Streit of Hormuz & OilThe strait lies between Oman and Iran…
China Expands South China Sea Presence
The latest Maritime Security Threat Advisory from Dryad Global states that China’s military activity near Scarborough Shoal in the South China Sea continues to escalate, with combat readiness patrols becoming more frequent.The People's Liberation Army (PLA) has intensified both naval and air operations, and as Scarborough Shoal is situated within the Philippines' Exclusive Economic Zone (EEZ) it remains a flashpoint for regional tensions.The deployment of the U.S.
Palfinger Banks Contract on Royal Caribbean’s Icon Class Vessels
Palfinger Marine won a contract with the Finnish Meyer Turku shipyard to provide lifesaving appliances (LSA) for Royal Caribbean International’s fourth Icon Class ship, set to debut in 2027. The fourth Icon Class ship, built at the Finnish Meyer Turku shipyard, will have a comprehensive package of state-of-the-art LSA. This includes 18 lifeboats, one of the largest totally enclosed lifeboats on the market, each with a capacity of 450 passengers.
Corvus ESS Powers the World's First Fully Electric Offshore Vessel
Corvus Energy will deliver a mega-size battery system for the first fully electric offshore vessel ever to be built. The vessel is an electric Commissioning Service Operation Vessel (eCSOV) that will be constructed by Armon shipyard in Spain for UK-based shipowner Bibby Marine Ltd.For the project, Corvus Energy will supply its Blue Whale Battery Energy Storage System (BESS) delivering close to 25MWh of power for the vessel.
Navigating a Regulatory Storm: California Strikes Again
Onerous emissions rules are certainly no stranger to the maritime sector at large, arguably none more so than those that work and live in California. The U.S. West Coast state is a global shipping hub, with a coastline spanning more than 800 miles and 11 major ports. It also is known for its penchant for creating and enforcing maritime rules, rules that on occasion transcend the technological means to enact them.
Strong Refurb Market Drives Vestdavit Subsidiary
The Dutch subsidiary of Norway's Vestdavit, Vestdavit BV, saw revenue surge by 65% in 2024 - surpassing a 50% rise the previous year - as growing activity in the offshore wind and seismic segments has resulted in operators seeking to procure reconditioned workboat davits that can be installed on existing vessels.This means that vessels can be more quickly adapted and mobilized for short-term contracts both in wind turbine installation and maintenance and seismic exploration…
Econowind Sells 100th VentoFoil, Advancing Sustainable Shipping
Econowind has surpassed 100 VentoFoil units sold, marking a major milestone in the shipping industry’s shift towards Wind-Assisted Ship Propulsion. Since the first two units were installed on MV Ankie in 2018, Econowind has steadily expanded its reach. Today, 32 VentoFoil units are in operation, 33 are in production or ready for installation, and another 37 are set for delivery in 2025. The VentoFoil technology has been successfully deployed on bulk carriers…
Marine Cybersecurity: Key Takeaways from the Coast Guard's Final Rule
The U.S. Coast Guard (USCG) published a final rule on January 17, 2025, addressing Cybersecurity in the Marine Transportation System (the “Final Rule”), which seeks to minimize cybersecurity-related transportation security incidents (“TSIs”) within the maritime transportation system (“MTS”) by establishing requirements to enhance the detection, response, and recovery from cybersecurity risks. Effective July 16…
Coastal Virginia Offshore Wind Project Stays on Track with Cost Update
Dominion Energy, Inc. (NYSE: D) provided updates on the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project. The fully permitted project is now approximately 50% complete and remains on track for on-time completion by the end of 2026. CVOW continues to achieve construction milestones, including successfully installing the first 16 transition pieces, which connect the foundation and tower for each of the 176 wind turbines.
China Dominates Maritime Markets in '24
In what should be a surprise to no one, the Chinese maritime industry continued its dominance in 2024, with the nation’s vessel orderbook surpassing $123 billion. Data from VesselsValue reveals a strong year for both Chinese shipowners and shipbuilders, with significant investments across various vessel sectors.Chinese Ship Owning MarketAmong Chinese shipowners, China Merchants Shipping led the way with orders for 28 new vessels, worth an estimated $4.4 billion.
Flex LNG Time Charter Rates Beat Expectation
Flex LNG Ltd. released its unaudited financial results for the fourth quarter and full year ended December 31, 2024, reporting a robust performance amid a challenging LNG shipping market.Flex LNG posted vessel operating revenues of $90.9 million for the fourth quarter, a slight increase from $90.5 million in the third quarter. Net income surged to $45.2 million, significantly up from $17.4 million in the previous quarter…
Russia Seaborne Diesel Exports Rise
Russia's seaborne diesel and gasoil exports rose almost by a quarter in January from December as traders sought to increase supplies before new U.S. sanctions come into effect and amid seasonal low domestic demand, LSEG and market sources data show.The U.S. Treasury announced sweeping new sanctions against the Russian energy sector on Jan. 10, targeting two major oil companies, dozens of traders and…
Hapag-Lloyd Closes $4B Financing for 24 New Container Ships
Container shipping firm Hapag-Lloyd has secured long-term financing, in the amount of $4 billion, for 24 large container ships ordered in October 2024, with a combined capacity of 312,000 TEU.Around $900 million of the purchase price will be financed using the company’s own funds. A total of $500 million will be made available from two banks in the form of bilateral mortgage loans.Another part, in the amount of $1.8 billion…
