A closer look at this week’s highlights of the latest energy transition-related news gives us an insight into what the future may hold for the sector. With the world’s energy security at the top of nations’ agendas, more and more countries around the world are preparing to shift to renewable energy
French ballast water treatment systems producer BIO-UV Group has reported a 31% increase in revenues from its maritime business segment, contributing to full-year consolidated revenues of €51.5m for the 2022 financial year. The Euronext Paris listed company confirmed the sale of more than 200 BIO-SE
Dutch startup Circular Maritime Technologies (CMT) has received a cheque for the €1.7 million grant from the Kansen voor West subsidy program, which is largely financed by the European Regional Development Fund. The company said that the financing would be used for the first steps of CMI’s test and
Japenese shipping company Nippon Yusen Kabushiki Kaisha (NYK) has ordered its fifth liquefied petroleum gas (LPG) dual-fuel very large LPG/liquefied ammonia gas carrier (VLGC) from compatriot shipbuilder Kawasaki Heavy Industries (KHI). Like previously ordered vessels, the new 86,700 cbm carrier wil
Japanese shipping giant Mitsui O.S.K. Lines (MOL) and compatriot trading and investment company Mitsui & Co. have received approval in principle (AiP) from ClassNK for the design of a large ammonia-powered bulk carrier. The approval was granted for the 210,000 dwt Capesize bulker with a main engine
German liner giant Hapag-Lloyd AG has signed a binding agreement to acquire a 35% stake in Indian terminal operator J M Baxi Ports & Logistics Limited (JMBPL). The stake is being acquired from a U.S.-based Bain Capital Private Equity affiliate. The German shipping major has also signed a deal with J
Danish tanker company TORM has entered into agreements to acquire a total of seven 2011-2013 built LR1 vessels. The company will spend $233 million on the acquisition. According to TORM, all the vessels are built at renowned Korean and Chinese shipyards. The tankers are expected to be delivered no l
Port services provider S5 Agency World has entered into a contract with Deutsche ReGas to act as terminal agent at the new Deutsche Ostsee LNG terminal at Lubmin Port. The floating storage and regasification unit (FSRU) serving as the terminal was officially launched on 14 January, with the inaugura
Finnish shipbuilder Helsinki Shipyard has floated out a hybrid diesel-electric expedition ship SH Diana being built for Swan Hellenic. SH Diana’s fitting out is already underway, as the vessel readies for its maiden cruise, leaving Palermo in Italy for Lisbon in Portugal on 15 April. Diana will then
Ubuntu Harmony, a recently launched LNG dual-fueled Capesize+ bulk carrier, has been loaded with its first cargo of iron ore, according to UK-based mining company Anglo American, which charters the vessels from Taiwanese bulk carrier company U-Ming Marine. The 190,000 dwt vessel loaded its first car
Setting up a fully automated line for the joint production of ship parts by the Northern Netherlands maritime sector for the benefit of Northern shipyards is technically, financially, and organizationally feasible, a study shows. The feasibility study, ‘Shared Facility micro panel line for the North
Energy and marine consultancy ABL Group has investigated two possible brownfield sites for the installation of a solar photovoltaic (PV) plant to generate renewable energy-powered shore power at the Port of Mombasa, Kenya.
A group of eight marine insurers has released the first Annual Disclosure Report for Poseidon Principles for Marine Insurance, disclosing the climate alignment of their hull and machinery portfolios. The report surveys the portfolios of the framework’s signatories in what has been described as a ‘la
Turkey’s floating power plant company Karpower International (Karpowership) has signed a memorandum of understanding (MoU) with state-owned trader JSC Energy Company of Ukraine (ECU) to enhance electricity supply cooperation and accelerate the use of floating power stations to alleviate the nation’s
