PT Wintermar Offshore Marine Tbk (WINS:JK) recorded FY2022 gross profit of US$11.2 million, an 88% YOY growth, on the back of rising utilization and charter rates, and a 510%YOY jump in net profit to US$1.1 million. Higher utilization and rising charter rates contributed to a strong operational performance in FY2022 with EBITDA up 28% to US$17.5 million on total revenue of US$61 million (+44%YOY). Owned Vessel Division Offshore upstream activity picked up steadily over the course of FY2022 amidst a sustained rise in oil prices and continued tensions in Ukraine. ...

The aftermath of an oil tanker’s sinking in Philippine waters has exposed cracks in the country’s efforts to elevate its maritime industry to global standards. It has also brought about renewed calls to protect a crucial marine biodiversity zone from oil tanker traffic. Oil tanker Princess Empress was carrying some 800,000 litres of industrial fuel on Feb 28, when it suffered engine trouble and sank off the eastern coast of the Philippines’ Mindoro island. The resulting oil spill prompted a fishing ban over affected areas, which continues disrupting the livelihoods ...

Several members of the 16-man crew on a Liberia-flagged tanker are being held hostage by pirates who boarded the ship in West Africa’s Gulf of Guinea last week, the Danish shipper that owns the vessel said Friday. Pirates boarded the Monjasa Reformer southwest of Port Pointe-Noire, Congo, on March 25 and five days later, the French Navy that was patrolling the area, found the ship off the small island nation of Sao Tomé and Principe north of where it had been attacked. In a statement, company spokesman Thorstein Andreasen said ...

Mitsui O.S.K. Lines, Ltd. announced the establishment of a new management plan, “BLUE ACTION 2035,” starting in fiscal year (FY) 2023. Since FY2017, MOL has adopted a rolling management plan in which strategies were reviewed annually, but it will now launch initiatives based on a long-term strategy, backed by the significant improvement in its financial position in recent years. “BLUE ACTION 2035” is a 13-year management plan which states the Group Vision, which was revised in April 2021, as “what we want to be in 2035”. 1. MOL Group Sustainability ...

ABB ABBN.S will launch its new $1 billion share buyback on April 3, the Swiss engineering company said on Friday, with the intention to buy up to 30 million of its shares. The buyback is the latest by ABB, which has repurchased around 286 million shares for roughly $8.6 billion since July 2020. The new scheme, announced on March 23, will see the equivalent of around 1.5% of ABB’s issued shares being bought back and canceled. It will run until March 20, 2024. “This new program is consistent with ABB’s ...

The following liquefied natural gas (LNG) tankers are expected to arrive in Britain, Belgium, the Netherlands and Germany in the coming weeks. Estimated arrival dates, often revised by port authorities and AIS Live ship-tracking data on Refinitiv Eikon, are updated below. Some tankers heading for Belgium and Britain may be loading at the terminal. Those expected to load are indicated with an (L). Those likely to perform ship-to-ship transfers are indicated with (STS). Tankers that have docked are indicated with (A). Floating storage and regasification unit (FSRU) terminals are added ...

SERTICA Connect is revolutionizing the way shipping companies and suppliers interact by simplifying the procurement process. The platform integrates seamlessly with the order systems of leading suppliers such as MAN and Wärtsilä, enabling a hassle-free exchange of requests for quotes, purchase orders, and order confirmations. The procurement process has never been easier. Lemvigh Müller, Wrist, and Hanil Fuji are the latest companies to join the growing list of suppliers integrating SERTICA Connect. With direct integration, suppliers no longer need to log into individual SERTICA Connect portals but can make all ...

Flagship Founders, the first European venture studio focused on maritime technologies, logistics and shipping, today announced the successful closing of a €3.5 million funding round. The round is led by Hamburg-based shipping company F. Laeisz. and complemented by Starthub Ventures and Flagship Founders’ founding partner Auerbach Schifffahrt. In addition, several business angels are investing, including Jürgen Ringbeck and Philipp Ahrenkiel. Flagship Founders was founded in May 2020 in Berlin with the mission of building digital businesses within the maritime industry together with ambitious founders. Since then, the venture studio has ...

Yesterday, the Aspen Institute announced the addition of IKEA as the first member of the Zero Emission Maritime Buyers Alliance (ZEMBA), alongside co-founders Amazon, Patagonia and Tchibo. ZEMBA is a first-of-its-kind effort to create aggregated demand for zero-emission maritime fuels.The mission of ZEMBA is to accelerate commercial deployment of zero-emission shipping, by leveraging companies’ collective buying power to accelerate the zero-emission vessel market and realize the ambition of zero-emission ocean shipping by 2040. The Ship It Zero coalition commends IKEA for joining Amazon, Patagonia, Tchibo and the Aspen Institute as ...

Residual fuel oil stocks at key trading hub Singapore fell 2% in the week ended March 29, as net imports eased after a sharp uptick last week, data showed on Thursday. Onshore fuel oil stocks were at 22.58 million barrels (3.56 million tonnes) in the week ended March 29, based on Enterprise Singapore data. The decline came amid a drop in net fuel oil imports, which slid 31% to 562,000 tonnes. Top net imports were from Saudi Arabia at 188,000 tonnes, followed by Malta at 88,000 tonnes and Kuwait at ...

An oil tanker owned by a major U.S.-traded transportation company appears to be taking on Iranian crude oil in a key Asian maritime strait in violation of American sanctions, an advocacy group alleges. The firm allegedly involved, Euronav, said Wednesday it will “take appropriate action when necessary.” Satellite photos and maritime tracking data analyzed by The Associated Press put the Belgian-flagged crude oil tanker Oceania just next to the Vietnamese-flagged tanker Abyss for a possible ship-to-ship transfer. The group United Against Nuclear Iran has warned the Oceania’s owner, the Antwerp-based ...

The IMO CARES project has completed a year-long foundation and preparatory phase, and now has received a further round of funding from the Kingdom of Saudi Arabia that will enable the initiative to move to a full implementation phase. IMO CARES – IMO’s Coordinated Actions to Reduce Emissions from Shipping – is a global project that aims to reduce shipping emissions through coordinated actions worldwide. It connects the global north and south by providing a platform for knowledge, R&D and technology partnerships. The new funding agreement was signed by IMO ...

Leading global marine energy solutions provider KPI OceanConnect launches “get fuelled”, a new two-year global trainee programme – to foster and inspire the next generation of marine fuel traders. As part of its commitment to enhancing innovation and inclusivity, KPI OceanConnect has recognised the need to provide an attractive career pathway for young people who are eager to contribute to the global energy transition and drive sustainability in one of the world’s most exciting industries. The programme will provide new hires with an immersive learning experience, including comprehensive training in ...

Analysis from Orca AI, creator of the world’s first automated situational awareness platform, has revealed the significant gains delivered by its platform for customers in the last 12 months. These include reducing the number of potential incidents and collisions, as well as increasing operational efficiencies to deliver both fuel cost and CO2 emissions savings. The analysis was conducted on 110 commercial vessels, spanning tankers, containers, bulkers and Ro-Ro vessels, which were equipped with the Orca AI platform throughout 2022. Orca AI calculated that during this period, its customers saw a ...

Established in 1975 in New York, United States, Sealift Incorporated is a privately held shipping company. The corporation’s owned fleet of six container ships relies on services from Inmarsat, a world leader in global, mobile satellite communications, to meet connectivity requirements at sea. In 2021, Sealift extended its existing agreement with Inmarsat by signing five of its vessels up to the award-winning Fleet Hotspot, with installations taking place in late 2021 for the first two vessels and in mid-2022 for the remaining three. Powered by Inmarsat’s Fleet Xpress, a market-leading ...