bound4blue, the European technology developer of automated wind-assisted propulsion systems for the maritime transport based in Spain, has secured a €15.9M Series A funding round led by GTT Strategic Ventures, with the participation of the EIC Fund (European Innovation Council), Shift4Good, Louis Dreyfus Company Ventures, the Sustainable Ocean Alliance, Sun Returns, Kai Capital and existing investors including the Ocean Born Foundation and CDTI (Centre for the Development of Technology and Innovation) through the co-investment initiative of Innvierte program. The new investors join the historic shareholders of bound4blue, institutional and private ...

ABS issued an approval in principle (AIP) to HD Korea Shipbuilding & Offshore Engineering (KSOE) and HD Hyundai Heavy Industries (HHI) for its ammonia reductant supply system for selective catalytic reduction (SCR) in ammonia-fueled ships. Representatives from both companies and the Liberian International Ship & Corporate Registry (LISCR) met at Gastech 2023 for the AIP presentation. The system utilizes the ammonia carried on board as the SCR reductant to remove NOx from emissions as opposed to the urea used in traditional diesel propulsion. In addition, the AIP includes a plan ...

Mitsui O.S.K. Lines, Ltd. announced that MOL has become the first Japanese shipping company to participate in the non-profit organization “Leadership Initiative to Promote Maritime Cluster Innovation and the Blue Economy (Note),” organized by Washington Maritime Blue (WMB; CEO: Joshua Berger; Headquarters: Seattle, Washington, U.S.) , a strategic alliance for the collaborative creation of a sustainable maritime industry. WMB membership encompasses more than 150 maritime organizations such as port authorities, port management companies, tugboat companies, classification societies, industry associations, research institutes, and government agencies as well as shipping companies, plus ...

bound4blue, the European technology developer of automated wind-assisted propulsion systems for the maritime transport based in Spain, has secured a €15.9M Series A funding round led by GTT Strategic Ventures, with the participation of the EIC Fund (European Innovation Council), Shift4Good, Louis Dreyfus Company Ventures, the Sustainable Ocean Alliance, Sun Returns, Kai Capital and existing investors including the Ocean Born Foundation and CDTI (Centre for the Development of Technology and Innovation) through the co-investment initiative of Innvierte program. The new investors join the historic shareholders of bound4blue, institutional and private ...

ABS issued an approval in principle (AIP) to HD Korea Shipbuilding & Offshore Engineering (KSOE) and HD Hyundai Heavy Industries (HHI) for its ammonia reductant supply system for selective catalytic reduction (SCR) in ammonia-fueled ships. Representatives from both companies and the Liberian International Ship & Corporate Registry (LISCR) met at Gastech 2023 for the AIP presentation. The system utilizes the ammonia carried on board as the SCR reductant to remove NOx from emissions as opposed to the urea used in traditional diesel propulsion. In addition, the AIP includes a plan ...

Mitsui O.S.K. Lines, Ltd. announced that MOL has become the first Japanese shipping company to participate in the non-profit organization “Leadership Initiative to Promote Maritime Cluster Innovation and the Blue Economy (Note),” organized by Washington Maritime Blue (WMB; CEO: Joshua Berger; Headquarters: Seattle, Washington, U.S.) , a strategic alliance for the collaborative creation of a sustainable maritime industry. WMB membership encompasses more than 150 maritime organizations such as port authorities, port management companies, tugboat companies, classification societies, industry associations, research institutes, and government agencies as well as shipping companies, plus ...

Faced with tough competition for greener fuels from other sectors, new 2030 maritime emission targets hang in the balance. According to the latest edition of DNV‘s Maritime Forecast to 2050 the shipping industry will find it challenging to secure enough supply of carbon-neutral fuels. The report emphasizes the need to consider all alternative approaches to reducing emissions and to take action now to secure future success. Increasing regulatory pressure to decarbonize, including stricter targets set by the International Maritime Organization (IMO) this July, means the shipping industry now needs to ...

Tergeo Limited, a UK-incorporated private company controlled by Constantine Logothetis, has increased its shareholding in publicly listed fuel technology group SulNOx Group PLC from 12.77% to 18.49%. The additional holding has been acquired through the purchase of shares from existing investors in SulNOx. The shareholding held through Tergeo together with Mr. Logothetis’ other interests in SulNox bring his total shareholding to 22.46%. As part of the transaction, Tergeo welcomed new shareholders into the company who have interests in three substantial shipping companies. SulNOx, which is listed on London’s Aquis Exchange, ...

An independent study conducted by maritime research house Thetius has revealed that methanol to hydrogen generator technology, developed by renewable energy technology pioneer e1 Marine, can significantly reduce EPA-regulated emissions by up to 99% when using grey methanol when compared with conventional diesel engines for inland waterway vessels. The technology can also reduce GHG emissions by up to 85% when using green methanol as feedstock in the same application. The international maritime industry is under pressure to meet 2030 and 2050 International Maritime Organization (IMO) emissions goals, as well as ...

ClassNK has issued an Approval in Principle (AiP) for an onboard CO2 capture and storage (OCCS) system developed by China Shipbuilding Power Engineering Institute Co., Ltd. (CSPI), a member of CSSC Power (Group) Co. Ltd. (CPGC). In addition to fuel transition, interest in capturing CO2 from ships’ exhaust gas is growing as a way to reduce GHG emissions, and the development of onboard systems for capturing and storing CO2 is being undertaken. To encourage the development of the related technology, ClassNK has published “Guidelines for Shipboard CO2 Capture and Storage ...

GTT Strategic Ventures, the GTT group venture capital arm, announces that it has led a fund-raising round of €15.9 million to support the development of bound4blue, a technology developer of automated wind-assisted propulsion systems for maritime transport. In particular, the funding round includes the participation of the European Innovation Council, Louis Dreyfus Company Ventures and Shift4Good. Following this transaction, GTT now holds around 9% of the voting rights in the company. The new investors join existing shareholders of bound4blue, including the Ocean Born Foundation and the Centre for the Development ...

Lloyd’s Register (LR) has granted Approval in Principle for a 10,000cbm ammonia bunkering vessel developed by Hyundai Mipo Dockyard (HMD), a key result of a joint development project (JDP) established earlier this year to meet the global demand for safe design and operation of alternative fuel bunkering vessels. HMD’s vessel design incorporates two cylindrical type ‘C’ tanks, a reliquefication plant, a sophisticated loading arm with easy manoeuvrability for safe operations. The vessel has both single and twin-screw variants with different propeller options for operators. Ammonia bunkering is widely anticipated to ...

ABS has awarded Approval in Principle (AIP) for Bumi Armada’s pioneering design for a floating carbon storage and injection unit (FCSIU). Bumi Armada’s FCSIU concept is a floating terminal capable of storing and injecting liquified carbon dioxide (LCO2) into depleted oil and gas fields or aquifers. This novel concept incorporates the ability to accept LCO2 deliveries in an offshore setting, the flexibility to manage LCO2 at low or medium pressure, the provision of LCO2 buffer storage and the preparation of LCO2 for sequestration – permanent storage of CO2 deep beneath ...

KR (Korean Register) granted an Approval in Principle (AiP) for a 200K CBM Class Ultra-Large Ammonia Carrier with Ammonia Fuel. The innovative vessel design, created by Samsung Heavy Industries (SHI), was unveiled at Gastech 2023 in Singapore on 6 September. A joint development project (JDP) between KR and SHI resulted in the development of this ultra-large ammonia carrier featuring an ammonia fuel system. The carrier is a green ship designed to carry large quantities of ammonia, using the cargo as fuel, and has zero carbon dioxide emissions during operation. Ammonia, ...

Maritime’s voyage to decarbonisation is underway, with shipping companies exploring technologies that harness wind, waves and even air bubbles to ensure their ships burn less fuel. Improved vessel design is making ships more efficient and safer for seafarers, and alternative fuels are being explored to help reduce the industry’s impact on climate change. However, there is another option to add to those already in play: navigational data. Modern mariners now rely on a sophisticated network of sensors, satellite systems and the latest technologies to gather data about their vessel’s journey. ...