Aqua Lectric, a US-based electric boating media company, has identified Europe as the “epicentre” of the industry, with close to one hundred electric boat companies worldwide. Europe’s focus on sustainability and climate action has propelled the region to lead in electric boating, with advancements in battery technologies and hull designs addressing challenges.
Ship building activity in coastal Karnataka has surged with UCSL launching the first of six 3800 TDW dry cargo vessels for Wilson ASA of Norway. Scheduled for delivery in February 2025, followed by five more vessels and eight 6300 TDW dry cargo vessels. UCSL also has orders for constructing Bollard Pull ASD tugs.
The Vizag International Cruise Terminal (ICT) in Visakhapatnam is set to open in March, costing Rs 96.05 crore. It can accommodate 2,000 passengers and has various facilities. Discussions with major cruise lines are ongoing. The Vizag Port also completed the Vizag International Cruise Terminal (VICT) to attract more ships and boost tourism in the region.
Singaporean OSV player Vallianz recently disclosed a cyberattack in an investor announcement filing with the SGX. The ransomware hacking group gained unauthorized access to its servers, but Vallianz quickly contained and resolved the attack. Despite no significant impact on business operations, the company is still assessing the attack’s impact with expert assistance.
In 2024, a tragic record was set as 131 flimsy boats carrying migrants disappeared at sea while trying to reach Spain, resulting in the deadliest year on record with approximately 10,500 lives lost. Caminando Fronteras reported a 58% increase in migrant deaths on the Euro-African border, with many opting for dangerous boat journeys to Europe.
In 2024, Union Minister Sarbananda Sonowal highlighted India’s maritime achievements, calling it a pivotal year. He emphasized the country’s ambitions and progress, including the foundation of a new major port and opening global trade routes. Sonowal stressed the sector’s role in economic growth and urged citizens to contribute to India’s prosperity in 2025.
Fingrid, Finland’s national power grid operator, has taken legal action to seize the Eagle S oil tanker due to damages to the undersea Estlink 2 electricity interconnector. The incident, suspected to be caused by the tanker dragging its anchor, has raised concerns in the Baltic Sea region. NATO plans to increase presence in the area.
IMO Secretary-General Arsenio Dominguez has outlined key priorities for the organization in 2025, including a focus on seafarers, global security, and decarbonization. Improving safety and support for seafarers, reducing criminalization, and promoting diversity in the maritime sector are key areas of concern. Dominguez also emphasized the importance of gender representation.
The 2025 TU Delft Hydro Motion Team, consisting of 25 adult students, has developed a hydrofoiling boat powered by liquified hydrogen. Their focus on sustainable technologies led them to switch from solar power to compressed hydrogen in 2021. They hope to inspire the shipping industry to embrace greener practices.
The shipping industry is closely watching the shift towards dual-fuel engines in newbuildings, with methanol leading over ammonia in engine and regulatory development. Attention is now turning to retrofitting existing vessels, with companies like Maersk Halifax and Hapag-Lloyd opting for methanol. Ammonia’s carbon-free potential is also attracting interest, LNG remains the current market leader.
The global search for environmentally friendly energy sources has led to methanol emerging as a strong contender for the green fuel throne. Popular in the maritime sector, Stena Line and Lloyd’s Register have successfully integrated methanol into shipping, showcasing its potential to revolutionize the industry with its renewable and efficient properties.
The CSB 8005 vessel of the Vietnam Coast Guard completed a successful mission with the Indian Coast Guard in Kochi, India. The trip aimed to strengthen cooperation in maritime law enforcement, with training in search and rescue, firefighting, and oil spill response. Despite challenges, the mission was a historic milestone in deepening maritime cooperation.
Seven crewmembers of the tanker Eagle S have been banned from leaving Finland after allegedly damaging subsea infrastructure in the Baltic last week. The travel ban allows suspects to continue working aboard the ship during the ongoing investigation. Finnish authorities detained the vessel in connection with a subsea cable damage incident on Christmas Day.
South Asia Gateway Terminals Ltd. (SAGT) in Sri Lanka has reached a significant milestone by hitting two million TEU in 2024, marking the third time in its 25-year history. Despite post-pandemic challenges and economic crisis, CEO Romesh David credits the team’s hard work and investments in technology for this achievement.
The European Union’s FuelEU Maritime mandate, effective January 1, impacts shipping interests by requiring fuel-efficient decisions. Options include higher taxes, reduced consumption, or low-emission fuels. Fees on emissions per tonne for ships over 5,000 GT aim to cut greenhouse gas intensity by 80% by 2050. Compliance includes recording emissions and penalties for non-compliance.
