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Bernhard Schulte, Mitsui OSK Lines, and Maersk named in the Thetius 150 list of the maritime industry’s most innovative organisations A new report by maritime innovation agency Thetius was released today, naming Bernhard Schulte, Maersk, and Mitsui OSK Lines as some of the world’s most innovative shipping companies. The Thetius 150 aims to showcase the most innovative organisations across the maritime industry. From over 2,700 candidate organisations that are developing new technologies for the industry, Thetius has produced a definitive list of the 150 that are having the biggest impact. ...

China’s shipbuilding industry has made great progress in recent years, scaling up its value chains to more advanced and complex vessels, including the construction of environmentally friendlier alternative fuelled ships and a growing number of LNG carriers. “The creation of this team demonstrates DNV’s commitment to the Chinese market,” said Norbert Kray, DNV’s Regional Manager for Greater China. “Both energy and maritime industries are transforming, with LNG and other alternative fuels essential in this process. Our team will draw on DNV’s global expertise to contribute to this transition.” “With our ...

A.P. Moller – Maersk (Maersk) and the Spanish Government have signed a General Protocol for Collaboration to explore the opportunities for large-scale green fuels production in Spain. Signing the Protocol marks a significant milestone in the collaboration that, if implemented in full, could deliver up to 2 mil. tonnes of green fuels per year. The project aims to explore the feasibility on how to cover the full value chain from renewable energy sources to bunkering of vessels. The parties are reviewing production opportunities in the Andalusia and Galicia regions. The ...

As we follow the deliberations around the potential expansion of the European Union Emissions Trading System (EU ETS), we would like to provide an update on how these changes may impact you. MSC has fully complied with all EU MRV (Monitoring, Reporting, Verification) requirements to date and will fully comply with the new requirements of the EU ETS, once the EU Council, and European Parliament and European Commission come to an agreement on its application. There are currently at least two paths that policymakers are considering. The European Commission has ...

RINA released a statement confirming that the CO₂ reduction achieved by the new Molten Carbonate Fuel Cells (MCFC) technology for Carbon Capture (CC) in shipping, developed by Ecospray, matches expected targets announced by the company at the beginning of the project. In a push to even greater sustainability, Ecospray chose to use bio-LNG as fuel for the MCFC technology. The MCFC can be fueled with hydrogen, methanol, ammonia, fossil LNG, but the use of a CO2 neutral – or negative- fuel represents a plus in the application of this technology. ...

U-Ming Marine Transport Corporation (TSEC code: 2606), one of the nine listed companies under Far East Group, and its subsidiary U-Ming Marine Transport (Singapore) Pte. Ltd., had commissioned CSSC Qingdao Beihai Shipbuilding Co., Ltd. to build four 210,000-dwt Cape size bulk vessels, two of which are “M.V. Cape Venus” and “M.V. Cape Jupiter”. Leveraging on high end cloud technology, guests from Taipei, Qingdao, Shanghai and Singapore were able to attend the ceremony virtually. The christening was hosted by Mr. Douglas Hsu, Chairman of the Far Eastern Group. During the ceremony, ...

The U.S has “no right” to interfere in Chinese cooperation with Germany, China’s foreign ministry said Thursday, after Washington cautioned against Beijing getting a controlling stake in Hamburg’s port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, foreign ministry spokesman Zhao Lijian told reporters at a daily briefing in Beijing. “Pragmatic cooperation between China and Germany is a matter for the two sovereign countries, the United States should not attack it without reason and has no right to meddle and interfere,” Zhao said Thursday, a day before ...

AD Ports Group (ADX: ADPORTS) today announced that it has signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the 80% stake amounts to AED 2.9 billion (US$ 800 million), implying a 100% Enterprise Value of AED 3.7 billion (US$ 1.0 billion), with the acquisition being fully funded through a new acquisition loan. This earnings and value-accretive strategic investment significantly broadens AD Ports Group’s global feeder shipping footprint and contributes to its long-term strategy ...

India’s iron ore exports dropped to “nearly zero” in October, and overseas shipments of the steelmaking raw material are expected to continue to languish due to higher export taxes and lower demand from China, a senior industry official said. India in May raised the export tax on low-grade iron ore lumps and fines – with iron content below 58% – to 50% from zero, and hiked the duties on pellets to 45% from zero, as part of efforts to meet rising local demand. “In October, exports were nearly zero, and ...

Chinese customs updated its list of approved Brazilian corn exporters on Wednesday, a move a Brazilian agriculture official said could jumpstart sales of corn to the world’s second-largest economy. The approvals could reshape global trade flows and result in fewer sales for farmers in the United States, the world’s top corn supplier. China relied on the United States and Ukraine for most of its corn supplies but Russia’s invasion of Ukraine has disrupted exports. “It is a good alternative for Brazil, having (more) markets to send products to,” said Glauco ...

China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand through those contracts, as it aims to ensure market supply and stabilise prices. All coal mining firms and coal-fired power and heating plants will be covered under the long-term contracts, a document issued by the National Development and Reform Commission (NDRC) showed, a wider range compare to 2022’s order of covering only mines with annual capacity bigger than 300,000 tonnes. Coal mines should put at least ...

Chicago soybean futures rose nearly 1% on Friday, with prices on track to end the week on a positive note, as expectations of strong Chinese demand underpinned the market. Wheat gained ground and the market is set for its first weekly rise since early October on concerns over Black Sea supplies and excessive rains damaging the Australian crop. The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.9% at $14.49-3/4 a bushel, as of 0536 GMT, and the market has gained 3.5% so far this week. ...

Energy- USD weighs on oil USD strength and a more hawkish FOMC meeting this week have proved too much for the oil market (and broader risk assets) with ICE Brent settling more than 1.5% lower on the day. The increasingly gloomy macro outlook is providing some strong headwinds to the oil market and without the supply cuts announced by OPEC+ back in October, we would likely have been trading at much lower levels. In fact, OPEC+ cuts have provided some stability to the market in the short term. However, this ...

Oil climbed on Friday as the dollar eased and supply risks lingered, though recession fears and China’s COVID outbreaks kept a check on prices. Brent crude futures were up $1.84, or 1.9%, to $96.51 a barrel at 0740 GMT. The contract is headed for a weekly climb of more than 0.5%. U.S. West Texas Intermediate (WTI) crude futures were up $1.94, or 2.2%, at $90.11 a barrel, on course for a weekly gain of more than 2%. Both contracts rose as the dollar slipped. A weaker dollar boosts oil demand ...

Europe needs to act now to avoid a natural gas shortage next year given the loss of Russian supply and expectations Chinese demand will increase, the International Energy Agency (IEA) said on Thursday. The European Union has succeeded in filling storages to 95% ahead of this winter, 5% or 5 bcm above their 5-year average, but the IEA said the challenge next year was likely to be greater and there was a danger mild weather had led to a sense of complacency. “We are ringing the alarm bells for the ...