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ABS and the U.S. Coast Guard Research and Development Center to Collaborate on Cutting-Edge Maritime Technologies

American Bureau of Shipping (ABS) and the United States Coast Guard Research and Development Center (USCG-RDC) signed a memorandum of understanding (MOU) that opens the door to collaborative research and development on top-of-mind technologies impacting the maritime industry. ABS and the USCG-RDC each have robust portfolios of maritime innovation projects that will benefit from cooperative efforts in areas of mutual interest. Activity under the MOU can include developing joint research publications, new technology qualifications and information sharing in a variety of research areas including remote and autonomous systems for uncrewed ...

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Capital-Executive Ship Management Corp. takes delivery of newbuilding container vessels ‘Adonis’, ‘Anaxagoras’, ‘Acheloos’ and ‘Acastos’

Capital-Executive Ship Management Corp. is pleased to announce the successful delivery of the 2,862 TEU newly built container vessels C/V ‘Acastos’ C/V ‘Adonis’, C/V ‘Anaxagoras’, C/V ‘Acheloos’ from HD Hyundai Mipo Dockyard Co. Ltd., South Korea. Each sister vessel features a single-tier lashing bridge for increased stack-weights and to facilitate the 604 refrigerated containers. The vessels’ deck house has been lifted to increase visibility and nominal intake. These 2,862 TEU container vessels incorporate optimized hull designs and integrate smart ship technologies to boost energy efficiency and minimize environmental impact. The ...

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NORDEN to acquire Norlat Shipping to further grow projects and parcelling activities

NORDEN has entered into an agreement to acquire Norwegian dry bulk operator Norlat Shipping, which specialises in the shipment of forest products and other bulk commodities, with main trading routes from Northern Europe to North Africa and North America. “With a customer-centric business and trading routes complementary to NORDEN’s, Norlat is a great fit with NORDEN,’ says NORDEN CEO Jan Rindbo. “Norlat allows NORDEN to further cement our growing position within projects and parcelling, enabling us to offer our customers fully flexible solutions, as a global provider of ocean-based freight ...

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Ukraine grain exports via Romania’s Constanta port drop 43.5% in first half

Ukraine’s grain exports through the Romanian Black Sea port of Constanta fell by 43.5% on the year in the first half to 4.24 million metric tons, the port authority said, as Kyiv has been able to rely on its own ports this year. Constanta port had been Ukraine’s main alternative route for grain since Russia’s full-scale invasion in 2022 and the port has seen an influx of European Union investment funds aimed at increasing its capacity. Grain arrives in Romania by road, rail and barge across the Danube river and ...

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NYK Revises Forecasts for Fiscal Year Ending March 2025 Higher

Nippon Yusen Kabushiki Kaisha decided to revise our consolidated financial forecasts for fiscal year ending March 2025 (hereinafter “the Current Fiscal Year”) announced on May 8, 2024. (1) Revisions to the Consolidated Forecast for the Cumulative Second Quarter of the Current Fiscal Year (April 1, 2024 – September 30, 2024 (2) Revisions to the Consolidated Forecast for the Current Fiscal Year (April 1, 2024 – March 31, 2025) As disclosed on May 8, 2024, we have decided to acquire its own shares for a total maximum acquisition amount of ¥100 ...

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OneLink Signs Deal with ShipIn Systems for AI-Powered Fleet Management

ShipIn Systems has today announced an agreement which will see its FleetVision Platform add new capabilities to the OneLink Platform. OneLink is a unique solution that unites a number of performance platforms within one, providing a powerful set of digital services and solutions to the shipping industry. By adding FleetVision’s AI-powered visual analytics, OneLink will have another layer of digital capabilities to its powerful maritime system. Using FleetVision, OneLink customers can now see events onboard every ship in near real-time, with AI generating insights into areas such as Bridge conduct, ...

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China delivers world’s first river-sea LNG bunker and transport vessel

China has delivered the world’s first 14,000 cubic meters liquefied natural gas (LNG) bunkering and transport vessel capable of river-sea navigation in Shanghai, breaking international technology barriers with a record of more than 85 percent in the localization rate. The vessel, Huaihe Nengyuan Qihang, built by Hudong-Zhonghua Shipbuilding (Group) Co, a subsidiary of the China State Shipbuilding Corp, was delivered and named in Shanghai two months ahead of schedule, the company told the Global Times on Sunday. The completion of the vessel is of great significance for implementing the carbon ...

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Iron ore edges lower as investors digest mixed signals from China

Prices of iron ore futures edged lower on Monday as investors and traders assessed mixed market signals from top consumer China following the end of its widely watched third plenum. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.31% lower at 798.5 yuan ($109.79) a metric ton. The benchmark August iron ore contract SZZFQ4 on the Singapore Exchange fell 0.83% to $103.65 a ton, as of 0710 GMT. China lowered a key short-term policy rate and its benchmark lending rates in an attempt ...

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CMT Expands Into Singapore With Appointment Of Junma Services

CM Technologies (CMT) has strengthened its global sales and distribution network with the appointment of Singapore’s Junma Services, a leading marine engine sales, repair, and services company, to facilitate increasing demand for CMT’s machinery and fluids testing, measuring and analysis solutions. Junma Services joins an established CMT network of 10 distributors across the Asia Pacific region, with specific responsibility for increasing the Germany-headquartered company’s presence across the Lion City’s maritime cluster. The development is part of a wider strategy to ensure that all major maritime hubs are stocked with CMT’s ...

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Oil tanker that fled collision site is detained in Malaysia

A tanker that fled the scene of a fiery Friday collision offSingapore entered the area of Malaysia’s Bertam floating oil terminal on Monday after being tracked down and intercepted by Malaysian authorities, shipping data from LSEG and Kpler showed. The Sao Tome and Principe-flagged supertanker Ceres I had left the scene of the collision with the Singapore-flagged tanker Hafnia Nile about 55 km (35 miles) northeast of the Singaporean island of Pedra Branca without explanation. The Ceres I, which was believed to have turned off its tracking system after the ...

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PD Ports: Aiming to be the UK’s most sustainable port

PD Ports has a publicly stated aim to be the UK’s most sustainable port company, with a commitment to reach Net Zero operations by 2040. Today, we launch our company’s sustainability strategy which, for the first time, marks a formal commitment to PD’s Port’s environmental, social and governance obligations. The strategy contains 17 long-term targets to deliver a sustainable future for one of the UK’s largest ports and will be used to evaluate the company’s decarbonisation and biodiversity efforts. PD Ports has also gone further by enshrining social as well ...

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South Korea’s KOMIPO cancels plans for LNG import terminal

South Korea’s Korea Midland Power Co (KOMIPO) has cancelled plans to build a liquefied natural gas (LNG) import terminal on the western coast of the country due to high costs and declining demand for the fuel. KOMIPO said in a statement to Reuters on Monday that its board had approved the plan to withdraw a LNG terminal construction project in Boryeong on June 28. Construction costs for the project had been expected to rise by about 22% from 732.1 billion won ($527.40 million) to 894.6 billion won. The company also ...

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PPA S.A.: Two awards for Piraeus Port Authority contribution to the Greek Economy

Piraeus Port Authority S.A. received two prestigious distinctions for its significant contribution to the Greece’s economy at the “Protagonists of the Greek Economy” awards, organized by the Direction Business Network under the auspices of the Ministry of Development. PPA S.A. was honored with the “Industry Leader in Port Authorities” recognizing its position in the sector based on its turnover, profits before taxes and cash reserves for the fiscal year 2022. Additionally, the Company received the “Greek Business Champions” award, which is given to companies with a turnover exceeding 10 million ...

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WISTA UK Celebrates 50 Years of Championing Diversity and Inclusion in the Maritime Industry

The Women’s International Shipping & Trading Association UK (WISTA UK) marked its 50th anniversary with a celebratory event highlighting five decades of progress and ongoing efforts to promote diversity and inclusion within the maritime industry. The event, which included an insightful conference and a grand evening reception, brought together industry leaders, members, and supporters to honour achievements and set the stage for future advancements. The conference started with a welcome by Monica Kohli, President of WISTA UK, followed by a welcome address by His Excellency Arsenio Dominguez, Secretary General of ...

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Asyad Expands its Operations into the Heart of Global Trade in China, India, US, the GCC by Acquiring Skybridge Freight Solutions

Asyad Group, Oman’s pioneering end-to-end global logistics provider, has acquired Skybridge Freight Solutions (SFS), a leading global freight forwarding company. The landmark acquisition is the group’s first international acquisition in core logistics activities and marks a strategic move to significantly expand Asyad’s footprint through active operations in key trade hubs and the major economies of China, India, the USA and the GCC, supported by unhindered access to SFS’ well-established, dynamic network that covers over 90 geographies across six continents. Now acquired by Asyad Group, SFS is a premier freight solutions ...

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