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International Shipping News

Silverstream Technologies appoints Simon Helliwell as Chief People Officer to develop the company’s talent and innovative culture as it expands globally

Silverstream Technologies, the market leader in air lubrication technology for the global shipping industry, has today announced the appointment of Simon Helliwell as Chief People Officer (CPO) to grow the company’s existing talent, bring in new team members, and support its global outreach. As Silverstream’s orderbook and personnel grows rapidly, Simon will also work to retain and develop the company’s unique culture. In his former role at Elsevier, Simon held the position of Executive Vice President, Human Resources. Simon was responsible for the delivery of the full range of HR ...

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Wärtsilä Cargo Handling and Fuel Supply Systems selected for world’s largest LPG/Midsize gas carriers

The efficiency and advanced design of the technology group Wärtsilä’s Cargo Handling and LPG Fuel Supply systems have again been validated with a major order. These solutions have been selected for two LPG/Midsize gas carrier vessels being built at Hyundai Mipo Dockyard in South Korea for EXMAR LPG, a joint venture between EXMAR, a multi-disciplinary maritime and offshore solutions provider and Seapeak. The order was included in Wärtsilä’s order book in December 2022. The 46,000 m3 capacity vessels will be the largest of their kind in the world, and there ...

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74% of Freight forwarders from Asia affirm market opportunity for Shipper owned containers in the region: Container xChange Survey

The market opportunity for Shipper-owned containers (SOCs) is recognized by 74% of freight forwarders as surveyed by Container xChange. Pudong Prime, a freight forwarder from Asia recently experienced exceptional demand for SOCs from Vietnam. Recognizing the opportunity, Pudong Prime ventured into expanding its market in Vietnam leveraging the digital operational support of Container xChange, an online container logistics platform. Growth in acceptance for Shipper-owned Containers has been triggered by market uncertainties caused by supply chain crises globally over the past two years. This created a thriving environment for Shipper owned ...

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Oldendorff Carriers Invests In Alpha Ori Technologies

Oldendorff Carriers, one of the world’s leading dry bulk operators, has signed a deal that will see it invest in leading maritime digital solutions provider Alpha Ori Technologies (AOT). An Oldendorff Carriers’ representative will also join the AOT board. AOT’s digital solutions are increasingly being adopted by leading maritime operators worldwide. This new investment will further accelerate its sales activities and product capabilities. Peter Twiss, CEO of Oldendorff Carriers, said: “Oldendorff is pleased to be an investor in Alpha Ori Technologies. Having considered various cleantech, optimization and fuel savings products ...

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Jamaica celebrates its role at the heart of maritime regulation as it launches its campaign for IMO re-election

Jamaica underscored the importance of being at the heart of international maritime regulation by holding a reception in London to launch its campaign for re-election to Category C of the Council of the International Maritime Organization (IMO) for the 2024-25 biennium. As the largest English-speaking island State in the Caribbean, Jamaica has a long history of involvement in maritime affairs and in shipping, which plays an integral role in the socio-economic development of the country. Hosting the event, Mrs Corah Ann Robertson Sylvester, chair of the Maritime Authority of Jamaica ...

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Lloyds List features Dr. Anil Sharma as a shipping industry leader

Dr. Anil Sharma, President and CEO of GMS, has, for the thirteenth straight year in a row, been listed in the annual Lloyd’s List Top 100 Most Influential People in the Shipping Industry 2022. Dr. Sharma is one of only seven people worldwide who have been featured consecutively in all 13 editions of the Top 100 and received such international acclaim. This sustained success comes as GMS celebrates 30 years as an innovator in ship recycling and acknowledges the fundamental impact that GMS has had, and continues to have, on ...

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TMC appoints head of sales

TMC Compressors (TMC), which is a worldwide supplier of compressed air systems for marine and offshore use, has appointed Jens Erik Tøstad to head up the company’s international sales function. Tøstad joins TMC from Kaeser Kompressorer AS in Norway where he has held roles as both sales manager and product manager marine. He also has experience from Wärtsilä Moss, where he was sales manager for nitrogen and inert gas systems. At TMC, Tøstad will head up the company’s international sales team. He reports to Hans Petter Tanum, TMC’s director of ...

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MAN Energy Solutions to restructure Executive Board

There will be changes to the Executive Board of MAN Energy Solutions SE effective January 1: Dr. Gunnar Stiesch will take over the Technology department, which was previously headed by CEO Dr. Uwe Lauber in a dual role, and will join the board as the new Chief Technology Officer. The 52-year-old engineer was previously Head of Engine Development at the company and has worked for the company in responsible R&D functions for almost 15 years. Dr. Uwe Lauber, will in future assume responsibility for Sales, which he has already headed ...

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Golar LNG Limited – Contemplated buy-back of bonds

Golar LNG Limited (“Golar”) announces an offer to buy-back parts of its USD 300,000,000 senior unsecured bonds maturing 20 October 2025 (with ISIN NO 0011123432) for cash (the “Buy-Back Offer”). DNB Markets (the “Manager”) is acting as manager of the Buy-Back Offer. The Buy-Back Offer will be conducted as a “Reverse Dutch Auction”, where bondholders can offer bonds, at desired volumes and prices, to Golar, through the Manager. Golar reserves the right to accept any volume up to an accepted price, or to reject all received offers. All bondholders, subject ...

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A Hedge Fund That Saw Returns Of Over 20% Is Holding On To These 2 Marine Shipping Stocks With Soaring Yields

Oaktree Capital Management saw a one-year return of roughly 22.8% last year, according to Stock Circle, and has a total portfolio value north of $9 billion. The company was co-founded in 1955 by co-Chairman Howard Marks and as of Sept. 30, 2022, it had more than $163 billion in assets under management through its diversified mix of global investment strategies in four categories: credit, private equity, real assets and listed equities. In 2019, Brookfield Asset Management (NYSE: BAM) acquired a majority stake in Oaktree. Oaktree works with more than 500 ...

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BW Epic Kosan: Improvement is even better than stability, but uncertain times ahead

BW Epic Kosan posted 3Q22 report this past week. The recipe of slightly improving revenues combined with the lower operating costs brought EBIT to a record-high USD 14.4m level. The outlook is mixed with the expected larger LPG segment substantial additions during the next year. Our estimates were somewhat upped for the short-term, but the long-term expectations had very limited adjustments and this resulted in an unchanged NOK 22/sh Target Price. With no movement in the stock price, this leads to reiterated Hold recommendation. Highest-ever EBIT reported BW Epic Kosan ...

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Wilh Wilhelmsen : Responsible refrigeration on ships – Enabling you to comply with regulations and reduce carbon emissions

Did you know that every 10% loss of refrigerant in a ship’s refrigeration system increases energy consumption by up to 20%? Refrigerant leaks result in more energy needed to deliver the necessary level of cooling, and could contribute to higher emission from the ship. From the growing number of regulations worldwide, we know that the industry is starting to recognise refrigerants’ significance within ship emissions. It is also clear that industry players in all regions and levels must now ensure full compliance or suffer the consequences. Converting to low GWP ...

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DNV’s DATE service in Singapore celebrates its tenth anniversary

DNV celebrated the tenth anniversary of its DATE (Direct Access to Technical Experts) centre in Singapore with an event attended by 120 customers and guests. The helpdesk was set up to support ship managers 24 hours a day, 365 days a year, and became the first to operate outside DNV’s headquarters in Norway on 3 December 2012. As part of a network of 200 technical classification experts in Høvik, Hamburg, Piraeus, and Houston, the seven-person DATE team in Singapore handles approximately 450 inquiries from ship operators and carries out 225 ...

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Shipping’s urgent need for Paris-aligned regulation

This paper summarises discussions from the Global Maritime Forum Annual Summit around the policy imperative to decarbonise shipping in line with the Paris Agreement’s 1.5 degree Celsius temperature goal, in the context of the momentum for policy action that has emerged over the past years. The International Maritime Organization (IMO) is at a critical juncture in the development of regulation to ensure a smooth transition to sustainable global maritime trade. The IMO’s Marine Environment Protection Committee is expected to adopt a revised greenhouse gas (GHG) strategy at its 80th meeting ...

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Singapore and the Kingdom of the Netherlands accept IMO Convention amendments

Singapore and the Kingdom of the Netherlands have become the latest countries to accept amendments to the Convention on the International Maritime Organization (IMO) which will expand the size of the Council, extend the term of its Members, and recognize three additional language texts as authentic versions of the Convention. Mr. Eng Dih Teo, Chief Executive of the Maritime and Port Authority of Singapore, deposited Singapore’s instrument of acceptance with IMO Secretary-General Kitack Lim during a visit to IMO (30 November). Mr. Paul van Gurp, Head of Division, Unit Maritime ...

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