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Avikus Autonomous Navigation Proven To Reduce Fuel Usage And Carbon Emissions

AVIKUS, HD Hyundai’s autonomous navigation in-house startup, announced today its autonomous navigation is proven to reduce fuel use by as much as 15% and expected to reduce carbon emissions by 10%. This is the first time these fuel savings have been verified. The fuel savings were quantified on a 325,000-ton Very Large Ore Carrier (VLOC) operating several times on a 5,800-mile route from Singapore to Brazil using Avikus’ autonomous HiNAS Control system. The verification of this performance was conducted through procedures that were jointly developed by HD Korea Shipbuilding & ...

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TORM plc capital increase in connection with exercise of Restricted Share Units as part of TORM’s incentive program

TORM plc has increased its share capital by 71,152 A-shares (corresponding to a nominal value of USD 711.52) as a result of the exercise of a corresponding number of Restricted Share Units. All new shares are subscribed for in cash. 14,441 shares are subscribed for at DKK 0.07 per A-share and 56,711 shares are subscribed for at DKK 190.2 per A-share. Transfer restrictions may apply in certain jurisdictions outside Denmark, including applicable US securities laws. The capital increase is carried out without any pre-emption rights for existing shareholders or others. ...

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Dachser stays on course and expands its global network

After the economic boom in logistics resulting from the coronavirus pandemic and worldwide disruptions in supply chains, normalcy returned to the industry in 2023. DACHSER was among those whose financial year was marked by weak demand for logistics services in the face of significant overcapacity and a sharp decline in air and sea freight rates. As a result, group revenue decreased to around EUR 7.1 billion, 12.5 percent down compared to the previous year. Transported volumes fell by 4.6 percent to approximately 77.4 million shipments, while tonnage decreased by 6.5 ...

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Wan Hai Lines Holds Ship Naming Ceremony for New Vessels accompanied by a Charity Donation

Wan Hai Lines held ship naming ceremonies for WAN HAI 370, WAN HAI 371 and WAN HAI 373 accompanied by a charity donation event today (26TH March) at Japan Marine United Corporation TSU Shipyard. WAN HAI 370, WAN HAI 371 and WAN HAI 373 are three vessels in the series of 3,055 TEU containerships built by Japan Marine United Corporation TSU Shipyard. The ceremony was officiated jointly by Mr. CHEN PO-TING, Chairman of Wan Hai Lines, and Mr. NOBUYUKI NADA, President & CEO of Japan Marine United Corporation. Ms. YEH ...

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Maersk omits Baltimore port after bridge collapse

Danish shipping company Maersk MAERSKb.CO said on Tuesday its vessels will omit the Baltimore port for the foreseeable future due to the ship collision that destroyed a bridge and blocked access to the harbour. The Dali container vessel involved in the incident was chartered by Maersk but none of the company’s crew or personnel were onboard at the time of the incident. Source: Reuters (Reporting by Terje Solsvik, editing by Stine Jacobsen)

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US imposes sanctions on finance, trade facilitators of Houthis, Hezbollah, Quds Force

The United States onTuesday imposed counter-terrorism sanctions on what it described as finance and trade facilitators for Yemen’s Houthis, Iran’s Quds Force and the Lebanese group Hezbollah. The sanctions target six entities, one individual and two tankers that are based or registered in Liberia, India, Vietnam, Lebanon, and Kuwait and that have engaged in facilitating commodity shipments and financial transactions, the U.S. Treasury Department said in a statement. “We will continue to use the tools at our disposal to target those who ship illicit cargo to benefit terrorist groups,” U.S. ...

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LR OneOcean’s Martin Taylor Farewell Message

After 35 incredible years in the maritime industry, and a dynamic journey through several pivotal transformations within our sector, the time has come for me to set sail on a new personal journey: retirement. As I reflect on my tenure, starting in 2010 as CEO of Charts and Maritime Supplies, through the evolutions of KH Charts, ChartCo, OneOcean Group, and culminating in the leadership of LR OneOcean, I am overwhelmed with pride and gratitude for what we have accomplished together. Through it all, my passion has been unwavering in meeting ...

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Chevron’s collaborative technical event with Petrol Ofisi reinforces its commitment to drive change through partnership

Chevron Marine Lubricants held the first technical seminar for 2024 on 7 March in Istanbul, Turkey. The event was held in collaboration with Petrol Ofisi Group. The seminar focused on the future of the maritime industry and the role that lubrication solutions will play in the ongoing energy transition. The event also celebrated the 10-year anniversary of cooperation between Chevron and Petrol Ofisi Group. The event reinforced Chevron’s commitment to drive change in the industry through valuable partnerships. Wärtsilä, a technology provider, was also a participant in the seminar. Wärtsilä ...

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Ship that collided with Baltimore bridge was chartered by Maersk

The Dali container vessel that collided on Tuesday with a bridge in Baltimore was chartered byshipping company Maersk MAERSK, the Danish group said in a statement. The ship carried Maersk customers’ cargo but none of the company’s crew or personnel were onboard, it added. “We are horrified by what has happened in Baltimore, and our thoughts are with all of those affected,” Maersk said. Maersk’s share price fell on the news, trading down 3.2% at 1019 GMT. The Dali was set to depart Baltimore early on Tuesday and arrive at ...

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Stena Bulk completes sale of two LNG tankers to BW LNG

Leading tanker shipping company Stena Bulk has announced that it has successfully completed the sale of two of its LNG carriers – Stena Crystal Sky and Stena Clear Sky – to BW LNG. Stena Bulk has delivered the vessels to BW LNG. As part of the sale, BW LNG will assume the existing charters for both vessels. Both vessels were originally delivered in 2011 from Daewoo Shipbuilding & Marine Engineering in South Korea. Stena Crystal Sky and Stena Clear Sky each have an LNG carrying capacity of 174,000 cbm. Speaking ...

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Ship ‘lost propulsion,’ warned of collision before Baltimore bridge incident, ABC reports

The container ship that crashed into a Baltimore bridge on Tuesday “lost propulsion” as it was leaving port, and crew on board notified Maryland officials they had lost control of the vessel, ABC News reported, citing an unclassified U.S. intelligence report. “The vessel notified MD Department of Transportation (MDOT) that they had lost control of the vessel and an collision with the bridge was possible,” ABC quoted the report by the Cybersecurity and Infrastructure Security Agency as saying. “The vessel struck the bridge causing a complete collapse.” Source: Reuters (Reporting ...

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EXMAR Reports 2023 Financial Results

During its meeting of 25 March 2024, the Board of Directors of EXMAR (“EXMAR” or “the Company”) reviewed the results for the year ending 31 December 2023. HIGHLIGHTS 2023 •The Marine XII project in Congo, with Eni, is driving revenue and EBITDA for the Infrastructure division. •The Midsize Gas Carrier market experienced another strong year. Building on EXMAR’s four decades of ammonia expertise, 50% of the midsize fleet operated in the ammonia segment. •For the first time, BEXCO is contributing in full to EXMAR’s revenue and EBITDA. •EXMAR re-entered the ...

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Wärtsilä Lifecycle Agreement to guarantee operational reliability of new Wind farm Installation Vessel

Technology group Wärtsilä has signed a long-term Guaranteed Asset Performance agreement with CSBC-DEME Wind Engineering Co Ltd (CDWE), a joint venture between CSBC Corporation and DEME Offshore. The agreement covers CDWE’s new 216 metres-long marine installation vessel (MIV), the ‘Green Jade’. The order was booked by Wärtsilä in Q1 2024. Green Jade is designed and built in Taiwan with the mission to facilitate government policy to make Taiwan sustainable. As Green Jade will be managing diverse projects and varying offshore distances, operational reliability is of utmost importance. The extensive service ...

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Marine Medical Solutions raises awareness over improper use of antibiotics onboard vessels

Leading provider of medical support services for crews, Marine Medical Solutions (MMS), is concerned over the rise in crew members being given unnecessary antibiotics which may reduce the effectiveness of these vital medications in the future. The company says that ships’ Masters should ideally seek medical input whenever they feel the need to give seafarers antibiotics as this type of medication is only of benefit when treating a bacterial infection. Impropriate or overuse of antibiotics does lead to antibiotic resistance and contribute to the emergence of antibiotic-resistant bacterial strains which ...

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Francis Scott Key Bridge collapses after being hit by cargo ship

The landmark Francis Scott Key Bridge in the US city of Baltimore has collapsed after it was hit by a ship. Several vehicles were crossing the bridge, which is more than 2.6km (1.6 miles) long, when the container ship collided with one of its supports. At least seven people are believed to be in the water and a number of vehicles were detected beneath the surface, officials said. Boats and helicopters are part of the search and rescue effort. The Singapore-flagged container ship, Dali, struck a support column on the ...

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