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International Maritime Industries championing newly launched Global Maritime Fund, managed by Pelagic Partners

International Maritime Industries (IMI), the largest shipyard in the MENA region, has endorsed the newly launched Global Maritime Fund (GMF) that will offer innovative financing solutions to key customers and maritime companies around the world. Managed by Pelagic Partners, GMF aims to become the world’s largest maritime fund to provide innovative financing solutions that are globally competitive, scalable, and fit for purpose, with a focus on ESG financing to support IMI’s key regional and international customers and other companies operating in the Saudi maritime industry. Based in Cyprus, GMF will ...

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Damen introduces new sustainable Pusher Tug

The newly developed versatile inland vessel Damen Riverbuster 1909 is developed to operate at inland and coastal waters in a wide variety of deployments such as towing, barge handling, marine construction and dredging support. The Riverbuster 1909 provides state-of-the-art solutions for new European emission standards and noise regulations. Recently, the European Stage V non-road emission standards have come into effect, as well as new crew comfort (noise) regulations. Modular The Riverbuster 1909 is intended to be a fully configurable, modular platform, which can be fitted out with project-specific equipment such ...

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Maritime industry unites to call for earmarking of ETS revenues

European shipowners, ports, the cruise sector, shipyards and equipment manufacturers, fuel suppliers, shippers, forwarders and port operators join forces and call on the Member States and the European Parliament to earmark the revenues generated from the inclusion of the shipping sector in the EU ETS for the maritime sector. Earmarked revenues should aim to lower the price gap with clean fuels, to finance R&D and innovation and the scale-up and deployment of clean energy and technologies on board and on shore. Investments in port infrastructure, connection to the grid, energy ...

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MHI-MME Confirmed the Completion of Shop Trial of a Main Engine Equipped with the World’s Largest Turbocharger (MET90MB)

Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. confirmed, in July this year, the completion of shop trial of a main engine equipped with its MET90MB Turbocharger (“MET90MB”), the world’s largest turbocharger is achieving its assumed performance. The MET90MB that underwent the shop trial was the first unit, which was delivered from our plant in January this year. Twenty-two MET90MB have been ordered for installation on the main engines of twenty-two 15,000TEU container ships, including 10 containerships of the same series. Sequential turbocharging1, which combines the use of two ...

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GTT receives approval in principle from bureau veritas for the design of a LNG-Fuelled & “NH3 ready” very large crude carrier

GTT received an Approval in Principle (AiP) from Bureau Veritas for a LNG-fuelled and NH3[1]-ready Very Large Crude Carrier (VLCC) design. This approval is part of a joint development project, started in 2021, and successfully carried out by China Merchants Energy Shipping Co, Ltd, TotalEnergies, Dalian Shipbuilding Industry Co. Ltd. (DSIC), and Bureau Veritas (BV). This new concept of VLCC is a breakthrough innovation, with the relocation of the fuel tank below the main deck to avoid exposure to bad weather, the risk of piracy, while lowering centre of gravity ...

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Keppel O&M secures repeat newbuild FPSO contract worth US$2.8b from Petrobras

Keppel Offshore & Marine (Keppel O&M)’s wholly owned subsidiary, Keppel Shipyard, has won a tender from Brazil’s National Oil Company, Petroleo Brasileiro S.A (Petrobras), to undertake the engineering, procurement and construction (EPC) of P-83, a Floating Production, Storage and Offloading vessel (FPSO), for about US$2.8b. Scheduled for delivery in 1H 2027, the P-83 is a repeat order of the P-80 FPSO that Keppel O&M secured in August this year. The contract will be on progressive milestone payments and adds approximately S$3.8b to Keppel O&M’s orderbook bringing it to about S$11.8b ...

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VARD taps Hydroniq Coolers for Germany-bound trawler

The shipbuilding group VARD has contracted Hydroniq Coolers to deliver the marine seawater cooling system to a newbuild stern trawler it is building for Deutsche Fischfang-Union GmbH & Co. KG in Germany. Aalesund-based Hydroniq Coolers’ scope of work is to assemble and supply its Rack seawater cooling system to the stern trawler. This type of marine cooling system is integrated in the hull below the main engine room of the vessel. Here it reduces temperatures in the ship’s engines and other auxiliary systems through use of seawater, but without taking ...

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Viking Polaris delivered

We are proud to announce that VARD has delivered Viking Polaris, the second of two ice-strengthened expedition vessels from VARD to Viking. Built at Vard Søviknes in Ålesund, Norway, Viking Polaris represents an excellent and innovative way to explore the world’s most remote destinations and is specifically geared for adventure cruises in polar destinations. The vessel has a length of 205 meters and a beam of 23,5 meters, especially designed and developed for comfortable expeditions in Antarctica and North America’s Great Lakes. The vessel hosts 378 guests in 189 staterooms. ...

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China’s shipbuilding progress threatens South Korea’s long-held tech dominance in the industry

Even as August marked an end to its months-long stretch with the biggest share of the world’s shipbuilding industry, South Korea still celebrated the fact that it managed to snatch up all eight of the month’s orders for advanced and expensive ships that carry liquefied natural gas (LNG). So, while China climbed to a 14 percentage point lead over South Korea in the overall shipbuilding market, the technological edge still goes to the latter. But some analysts say China is starting to catch up on the tech side, on top ...

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GTT receives an Approval in Principle from Lloyd’s Register for its new “POWER” digital solution

GTT has been granted an Approval in Principle (AiP1) from Lloyd’s Register for a new digital solution, “POWER” (Prediction of Operational Windows to Enable Regas operations). POWER has been designed to optimise the regasification operations of offshore units (FNLG2 or FSRU3) and the transhipment of LNG between these units and LNG carriers in areas subject to difficult sea conditions. This AiP confirms that POWER facilitates decision-making and improves the safety, the accuracy and the flexibility of the offshore LNG transfer operations, taking into consideration the specificities of the vessels involved. ...

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Explosive market demand boosts China’s LNG shipbuilding

Chinese shipbuilders have secured growing orders for producing liquefied natural gas (LNG) vessels this year amid the deepening energy crisis in Europe, which enables the country to enter the race of top-caliber shipbuilders along with South Korea in the construction of LNG tankers. On Saturday, China State Shipbuilding Corp’s (CSSC) Dalian Shipbuilding Industry and China Shipbuilding Trading Co landed an order of constructing two large-scale LNG vessels from China Merchants Energy Shipping Co. Each measuring 295 meters in length and 46.4 meters in width, they are able to hold 175,000 ...

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Høglund lands six repeat orders to supply integrated automation and control for VLECs at Jiangnan shipyard

Automation specialist Høglund Marine Solutions has signed six more contracts with Jiangnan Shipyard (Group) Co Ltd and Babcock LGE to supply Integrated Automation (IAS), Cargo and Fuel Gas Control Systems (CCS and FGCS) for six very large ethane carrier (VLEC) newbuilds. Three vessels will be owned by AW Shipping Limited, (a joint venture shipping company, established by Wanhua Chemical Group and Abu Dhabi National Petroleum Corporation), one by Hong Kong-headquartered Pacific Gas and two by Tianjin Southwest Maritime. These new contracts build on strong collaboration between Høglund, Jiangnan and Babcock. ...

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Avikus seen as key for Hyundai Heavy heir to inherit group’s control

Avikus has emerged as one of the most important subsidiaries of Hyundai Heavy Industries (HHI) Group, as the company specializing in self-navigating technologies has been apparently used for CEO Chung Ki-sun of HD Hyundai, the group’s holding firm, to prove his management ability before inheriting control of the conglomerate from his father, Asan Foundation Chairman Chung Mong-joon, the largest shareholder of HD Hyundai, according to industry officials, Monday. Earlier this month, Avikus recruited around 30 engineers, following its previous hiring of some 20 employees in March. The company has continuously ...

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Dollar dearth, demand drop sink ship-breaking industry

Scrap-ship imports have drastically dropped for dollar dearth and demand-side problems in Bangladesh, sources say, thus imperiling linkage industries and construction sector under knock-on impacts. Local ship-breakers have informed that the number of imported ships for dismantling has drastically fallen during the first half of 2022 for the headwinds from both directions. Bangladesh imported only 64 ships in total during the January-June period of the calendar year — about 59-percent lower than that of the same period of last year, according to data available with NGO Ship-breaking Platform (NSP). During ...

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Hanwha signs conditional takeover deal with DSME for W2tr

South Korea’s defense-to-energy conglomerate Hanwha Group said Monday it has signed a conditional memorandum of understanding with Daewoo Shipbuilding & Marine Engineering to acquire a controlling stake of 49.3 percent and managerial control of the shipbuilder, which has been under the state supervision for 21 years. Under the memorandum, Hanwha’s six affiliates — including its defense unit Hanwha Aerospace and an energy equipment company, Hanwha Systems Co. — will purchase DSME’s newly issued stocks worth 2 trillion won ($1.39 billion), according to the state-run Korea Development Bank. The lender currently ...

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