China’s Wuhu Shipyard has launched construction on SAL Heavy Lift’s first two carbon-neutral heavy lift ships, the shipbuilder revealed. The two 14,600 dwt vessels form part of a fleet of a total of six Orca-class vessels which will be equipped with dual-fuel engines able to run on methanol. SAL Hea
Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to Rotoboost, a Nordic hydrogen production company, for its pre-combustion Carbon Capture System (CCS) Rotobox. Rotobox uses thermocatalytic decomposition process (TCD) onboard marine vessels, where part of the natural gas fuel supply is
Costamare, Monaco-based owner and provider of containerships and dry bulk vessels for charter, has invested $200 million in Neptune Maritime Leasing Limited, becoming the leading investor in the growth-oriented maritime leasing platform. Neptune Leasing, established in 2021 by seasoned financier Har
Norway’s cleantech company TECO 2030 has achieved a prerequisite required to release the NOK 50 million ($4.6 million) grant given to the company by Innovation Norway in October 2021. Innovation Norway, the Norwegian Government’s instrument for supporting innovation and development of Norwegian ente
Greek shipping major Tsakos Energy Navigation (TEN) has placed orders for the construction of two scrubber-fitted environmentally designed Suezmax tankers in South Korea. The company did not disclose the name of the yard, however, previous market reports indicate that the builder is Hyundai Heavy In
Seven new members have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), launched in September 2022. New members of the Methane Abatement in Maritime Innovation Initiative (MAMII) include CoolCo, United Overseas Management, Capital Gas, Celsius Tankers, Global Meridian Holdings
American transportation and logistics company Matson has confirmed plans to convert the main engine of its 2019-built container ship Kaimana Hila to run on LNG. The ship’s engine will be converted from an MAN B&W S90ME-C10.5 unit to a dual-fuel ME-GI unit that can run on LNG. The retrofit of the 3,6
Strikes against the French government’s planned pension reform entered a second week on Wednesday, disrupting maintenance at nuclear reactors, hitting liquefied natural gas (LNG) prices, and blocking some shipments from refineries and depots, Reuters news agency reported. According to Reuters, at le
Netherlands-based Elegant Exit Company (EEC) has signed a Memorandum of Understanding (MoU) with Spain’s Astander Shipyard to collaborate on ship recycling initiatives. Located at the southern end of the Port of Santander, Northern coast of Spain, Astander is a shipyard with 130 years of expertise i
A new milestone in the construction of the Icon of the Seas, Royal Caribbean International’s first LNG-powered cruise vessel, has been achieved with the start of the first multi-fuel engine at the Meyer Turku shipyard. Said to be the world’s most advanced and largest ship with environmentally-friend
World’s largest container shipping company Mediterranean Shipping Company (MSC) and the Global Centre for Maritime Decarbonisation (GCMD) have signed a five-year impact partnership agreement to support shipping’s decarbonisation.
Danish shipping company TORM has inked a deal to acquire three 2013-built MR eco product tankers, pushing its fleet to 88 vessels. The company said the tankers will be bought for a total cash consideration of $48.5 million and the issuance of 1.42 million shares. As informed, the three vessels are a
Exhaust gas cleaning systems, also known as scrubbers, were installed on 399 ships in 2022, marking a fall of 24% y/y, data from BIMCO shows. The systems are being installed on ships to comply with the IMO 2020 Sulphur Cap as a way of cleaning out sulphur emissions while continuing to burn less expe
Alfa Laval, a Swedish-based supplier of products and solutions for heat transfer, separation and fluid handling, has joined the First Movers Coalition (FMC), a global initiative launched to boost decarbonisation efforts.
