Maritime energy storage systems (ESS) supplier Corvus Energy has secured a US$ 60m growth capital injection from a group of blue-chip international investors, led by Morgan Stanley Investment Management and including Just Climate and J Lauritzen. Founded in 2009,...
International Transport Intermediaries Club (ITIC) has forecasted that the cost of the European Union’s Emissions Trading Scheme (ETS) to the shipping industry could be in the billions. The extended EU ETS, which comes into force on 1 January 2024, will set an annual...
Mitsui OSK Lines (MOL) and A.P. Moller-Maersk have issued a joint statement at COP 28 on the decarbonisation of the shipping industry. The statement looks at bridging the price gap between clean alternative fuels and fossil fuels, which both companies regard as key to...
French liquefied gas membrane containment system company GTT has signed a strategic cooperation agreement with China State Shipbuilding Corporation (CSSC). The agreement provides for cooperation between GTT and 12 subsidiaries of the CSSC conglomerate, notably in ship...
BIMCO’s Documentary Committee has adopted a new Emission Trading Scheme (ETS) Allowances Clause for BIMCO’s ship management agreement, SHIPMAN, and published three ETS clauses for Voyage Charter Parties. The clauses aim to facilitate collaboration and provide clarity...
A.P. Moller-Maersk is about to launch the first of its 18 large methanol-enabled vessels currently on order, which, on 9 February 2024, will enter service on the AE7 string connecting Asia and Europe, which includes port calls in Shanghai, Tanjung Pelepas, Colombo and...
The Maritime and Port Authority of Singapore (MPA), Port of Los Angeles (POLA) and Port of Long Beach (POLB) have unveiled a partnership strategy for a green and digital shipping corridor (GDSC) across the Pacific Ocean. The release of the partnership strategy follows...
The CEOs of five major shipping companies have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging IMO to create the regulatory conditions to accelerate the transition to green fuels. The joint statement says...
Ship design, particularly the design of bulk carriers, presents particular challenges when it comes to the decarbonisation of existing vessels, according to dry bulk shipowner association Intercargo. Intercargo Chairman Dimitris Fafalios (pictured) said: “Shipping is...
In January 2021 Corvus Energy launched the H2NOR project aiming to develop the next-generation fuel cell based on fuel cell technology from Toyota; the product was launched in June 2023 and the first contract for the inherently gas-safe Pelican Fuel Cell was signed in...
Wärtsilä is to supply its latest simulator technology for a new maritime training centre, at the South-Eastern Finland University of Applied Sciences (Xamk) which has ordered the simulator along with the Joint Authority of Education of Kotka-Hamina Region (Ekami). The...
According to ro-ro operator UECC, cargo owners seeking to determine their Scope 3 emission liabilities from the logistics chain must contend with multiple calculation methods from different shipping lines that will affect their costs exposure to the EU ETS for...
Dubai-based ship management services provider Dockendale Ship Management and Danish methanol marine specialist Green Marine have formed a joint venture to focus on fully integrated crewing and technical management of methanol powered ships. Through this joint venture...
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