A.P. Moller Capital and an Indian entity signed an MoU to establish a joint venture, aiming to expand their transport and logistics portfolio in India. Managed by Robert M Uggla, it focuses on critical infrastructure investments in transportation and energy transition. With plans to invest over $750mn in South and Southeast Asia, A.P. Moller Capital is committed to sustainable growth.
The largest conversion project of conventional RoRo ferries into plug-in hybrid ferries is set to begin in the second half of 2025. Scandlines in Denmark, partnering with Wärtsilä, will convert two 27-year-old vessels to hybrid operations, enabling them to conduct 80 percent of their voyages by battery power.
SSA Marine has launched a new cruise division, appointing industry veteran Stefano Borzone as president. The division aims to enhance partnerships with cruise lines, focusing on innovation and sustainability. Borzone brings extensive experience from Carnival Corporation and Metro Cruise Services. CEO Uffe Ostergaard is excited for the division’s growth under Borzone’s leadership.
Assailants of unidentifiable source have boarded the merchant vessel Basilisk in the Indian Ocean, marking a new piracy attack in…
The UK Prime Minister, Rishi Sunak, has expressed his government’s commitment to supporting the shipbuilding sector throughout the country. While…
Armed pirates recently hijacked a Thai tanker in the South China Sea near the Malaysian island of Tioman. The incident…
According to the NTSB, the pilot of a barge tug failed to respond to a strong outflow on the Ohio River, resulting in a collision during the 2023 flood. The tugboat, Queen City, struck the Vane Dike, causing $2 million in damage. The NTSB emphasized the dangers of high currents for vessels navigating inland rivers.
Russia’s Northern Sea Route is set to witness record transit traffic this summer, with over 200 permits issued by Rosatom for vessels. While mainly Russian-flagged ships provide relief supplies to the Arctic, an increasing number of foreign-flagged LNG tankers, crude oil tankers, and container ships are expected to travel the route.
Japanese maritime companies have completed the initial phases of a collaborative project aimed at developing a secure data-sharing framework between…
WireCo and Lankhorst Ropes, in collaboration with Sensor Technologies, introduce “Sureline Systems,” a cutting-edge product set to revolutionize maritime operations. This partnership merges expertise in rope performance and advanced technology to enhance efficiency, safety, and sustainability in the maritime sector. The official launch will be at the ITS Exhibition in Dubai.
The House of Representatives ratified the Magna Carta of Filipino Seafarers, awaiting President Ferdinand Marcos Jr.’s signature. Kabayan Partylist Rep. Ron Salo hailed it as a victory for the maritime industry, emphasizing the bill’s provisions to enhance seafarers’ rights, safety, and welfare. The legislation aims to strengthen the maritime sector and support the domestic maritime industry.
Meteorologists are predicting an active 2024 Atlantic hurricane season due to high ocean temperatures and La Niña conditions. A 85% chance of above-normal activity is forecasted, with 17 to 25 named storms expected. Factors contributing to this increase include high Atlantic ocean temperatures, La Niña conditions, and weaker trade winds.
Kongsberg Maritime is set to upgrade Solstad’s Normand Sentinel with electric rim-drive azimuth thrusters, enhancing energy efficiency. The vessel’s transition from mechanical to rim-drive thrusters will not only reduce fuel consumption but also lower maintenance costs. This strategic move aligns with Solstad’s commitment to reducing emissions and embracing sustainable maritime solutions.
APM Terminals Pipavav reported a 9% net profit growth to INR 3,409.83 million in FY24. Revenue rose by 8% to INR 9,884.29 million. Container cargo business increased by 6% to 808,000 TEUs. Managing Director, Mr. Girish Aggarwal, attributed the growth to operational excellence and commitment to customer service.
The container shipping industry recorded a profit of $5.4 billion in Q1 2024, bouncing back from six quarters of decline. Higher rates and unexpected volume increases were attributed to the industry’s recovery. Red Sea diversions led to an 8% drop in global capacity, pushing prices higher. John McCown emphasized the impact of the pandemic on supply/demand dynamics.
