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Chantiers selects TMC for two luxury vessels

Chantiers de l’Atlantique has chosen TMC Compressors to supply the marine compressed air system for the two LNG yachts the shipbuilder is constructing. Under the contract, TMC Compressors will supply a complete marine compressed air system to each of the two newbuild yachts. Each system includes control and service air compressors with associated air treatment system. The two vessels’ dual-fuel propulsion system will use LNG as the primary fuel (marine gasoil secondary). “We see that consumers’ expectations to sustainable cruising is on the rise and the industry is responding to ...

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10 Years of EUROMAR – A Decade of Commitment to the Maritime Sector

EUROMAR enthusiastically celebrates a decade as a service agency for the Madeira International Shipping Register (MAR), proudly representing ships flying the Portuguese flag. On December 4, 2013, the founders and Managing Directors, Albrecht Gundermann and Jörg Molzahn, signed an innovative agreement with the Regional Government of Madeira and SDM, marking the beginning of a decade dedicated to serving shipowners and ship managers. Since its creation in 2013, EUROMAR has experienced remarkable growth. The Portuguese-flagged fleet has expanded from 130 to an impressive 860 ships, with tonnage increasing from 1 million ...

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Grindrod transforms education and mobility along the Ressano Garcia Corridor

Grindrod, a company passionate about uplifting communities, proudly announced its collaboration with Mozambikes in a transformative project to provide bicycles to students and teachers in the Moamba district. In the latest phase of this initiative, Grindrod generously donated 365 bicycles along the strategic Ressano Garcia corridor, benefiting seven schools in the Moamba District. This impactful contribution directly touches the lives of 222 students, 136 teachers, employees, and seven mechanics involved in the Bike Negocio programme, which is managed by the schools. These bicycles transcend their role as mere means of ...

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Global Maritime Forum CEO joins leadership council of the Industrial Transition Accelerator

Unveiled at the COP28 World Climate Action Summit in Dubai on Saturday, ITA is led by the COP28 Presidency, UN Climate Change, and Bloomberg Philanthropies. Hosted by the Mission Possible Partnership (MPP), ITA’s collaborative approach endeavours to unlock investments and rapidly scale implementation and delivery of projects needed to cut emissions, consistent with credible 2030 1.5°C pathway targets.1 Christensen was invited to join the Leadership Council in recognition of the significant role that the maritime industry can play in accelerating decarbonisation efforts. She will contribute perspectives and lessons learned from ...

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Kenoil Marine Services Achieves Milestone Ship-to-Ship Bunker Delivery of ISCC Certified Biofuel Blended Low Sulphur Marine Gas Oil in Singapore

Kenoil Marine Services (“Kenoil”), an ISCC-certified marine fuel supplier, has successfully carried out the inaugural ship-to-ship bunker delivery of biofuel-blended low sulphur marine gas oil in Singapore. The sustainable biofuel blend used in this milestone bunkering operation was a B24 composite blend of low sulphur marine gas oil and UCOME (Used Cooking Oil Methyl Ester). The 200 mton parcel was seamlessly loaded onto Kosmos Lily, a bunker tanker operated by Kenoil, at Jurong Port via ISO road tankers. This biofuel blended parcel also marked Kenoil’s first sale as an ISCC-certified ...

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Jamaica pledges continuing support to international maritime regulation as it is re-elected to IMO Council

Jamaica’s commitments to its maritime development and future growth go hand in hand with its support of the International Maritime Organization (IMO), the country’s Minister of Science, Energy, Telecommunications and Transport (MSETT) said this week as the country celebrated its re-election to Category C of the IMO Council. Leading Jamaica’s delegation to the 33rd IMO Assembly, the Hon Daryl Vaz, MP, said that Jamaica recognises and fully supports the IMO’s work at all levels of its Government, institutions and agencies. Minister Vaz told the Assembly: “There is also unequivocal recognition ...

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Intellian and Iridium enhance safety at sea with Global Maritime Distress and Safety System (GMDSS)

Intellian Technologies, Inc., the leading global technology and solutions provider for satellite communications, and Iridium Communications Inc, the only mobile voice and data satellite communications network that spans the entire globe, today reveal the development of new Global Maritime Distress and Safety System (GMDSS) safety display terminal. The Iridium® network’s unique location in Low Earth Orbit (LEO) provides highly reliable, weather-resilient L-band connectivity everywhere on the planet, making it essential when other satellite and cellular networks don’t work. Using Iridium’s network, the Intellian GMDSS safety terminal will significantly enhance the ...

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Hapag-Lloyd opens own offices in Bulgaria

Hapag-Lloyd today opened two new offices in Bulgaria, with dedicated teams ready to serve its customers in the port city of Varna and the Bulgarian capital Sofia. With a population of around 7.1 million, the country has become an attractive market within the European Union, strategically located in the heart of the Balkan Peninsula. The Bulgarian economy has expanded significantly in recent years, with GDP growth expected to remain strong at about 3.5 per cent in 2023 and 2024. The country has a strong energy sector but is also growing ...

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Fitch: Global Shipping Outlook Is Deteriorating in 2024

Fitch Ratings has maintained its deteriorating outlook for global container shipping, reflecting the continued challenges facing the sector. We forecast that tankers and dry bulk will remain stable, with the former the most likely to perform well. The easing of supply chain pressures that led to the near normalisation of container freight rates and lowering of profits in 2023 (after the peak of 2021-2022) has not yet fully flown through in annual earnings, and will result in further earnings weakness for container shipping companies in 2024. The main risks include ...

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Russia fails to get re-elected to UN ship agency’s governing council

Russia on Friday failed to win enough votes for re-election to the United Nation’s shipping agency’s governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body’s executive arm. The outcome is another blow for Russia after it failed in its bid to return to the UN’s top human rights body in October, in an election seen as a key test of Western efforts to keep Moscow isolated. Last year Moscow also failed to win enough votes for re-election to ...

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Small, autonomous, zero-emission inland vessels – new research project AUTOFLEX supports transport transition

To achieve climate neutrality for all EU countries by 2050 and, thereby, realizing the ambitious European Green Deal, gains in energy efficiency in all sectors are just as important as the increased use of renewable energies. In transportation, this means elevating the share of vehicles with drive systems powered by electricity and sustainable alternative fuels – including inland vessels. Additionally, a green modal shift from highly congested roads to better utilized inland waterways shall be realized. However, the increased use of inland waterways is already being hampered by changes in ...

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Dark’ tanker oil transfers rise further with suspected sanctioned trades

Shadowy oil transfers at sea with tankers switching off their transponders to hide their location continued to rise in the third quarter with increased activities suspected to be linked to Russia, Iran and Venezuela — all of whose exports are subject to Western sanctions. The move comes as sanctioned producers faced stronger incentives to boost sales amid a rise in international crude prices, taking advantage of a growing non-Western, ‘shadow’ fleet while regulators struggle to crack down on the illicit activity, according to industry participants. The number of such operations, ...

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Dry Bulk Market: Capesize Market on a Roll

Capesize This week has been exceptional for the capesize market, consistently gaining traction. The Pacific market kicked off the week with strong momentum, with all the major players from West Australia to China actively participating. The Atlantic witnessed a notable uptick, prompting owners to favour ballasting towards this region. The positive sentiment in the Atlantic persisted despite reduced activity from south Brazil and West Africa. Tuesday saw subdued activity in the Pacific, resulting in a slight decline in C5 rates, but stability prevailed overall. Tight conditions in the North Atlantic ...

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Tankers: VLCCs Marginally Lower This Week

Clean LR2 LR’s in the MEG have been on a downward trajectory this week. The 75Kt MEG/Japan TC1 index lost 16.11 points to WS113.33 with reports of WS107.5 currently on subjects in the market. The 90kt MEG/UK-Continent TC20 run to the UK-Continent also dropped 10% of its value to $3.19m. West of Suez, Mediterranean/East LR2’s on TC15 returned to being sedate, with the index dropping off $244,000 to $3.45m as a result. LR1 In the MEG, LR1 freight levels have managed to hold stable despite the downturns of the vessel ...

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EU ETS carbon emissions regulations – a sea-change for ocean freight shipping or a toothless tiger?

One of the major talking points in ocean freight shipping is the introduction of EU ETS carbon emissions regulations in 2024. Is this a sign of the industry getting serious about its environmental responsibilities or another initiative which is full of good intentions but ultimately lacking any bite? Is now the right time for shippers to take a stand on this surcharge and draw their battle lines before the regulations get even tougher down the line? Xeneta analysts Emily Stausbøll and Peter Sand have taken a deep dive into this ...

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