Wärtsilä has been recognized for its sustainability efforts, making it to the Dow Jones Sustainability Index Europe for the ninth consecutive time. With a top ranking in the IEQ Machinery and Electrical Equipment sector, the company’s dedication to sustainability and innovation in decarbonizing marine and energy industries is evident.
Two recent marine accidents involving commercial fishing vessels highlighted the dangerous stowage conditions that compromised the effectiveness of life-saving equipment on board. Crew members were unable to access personal flotation devices and liferafts due to inconvenient storage locations, resulting in tragic consequences. The Coast Guard issued safety recommendations to prevent similar incidents in the future.
A Finnish court has denied the release of the oil tanker Eagle S, suspected of damaging undersea power lines and telecom cables in the Baltic Sea. Owned by Caravella LLC FZ, the tanker remains seized as authorities investigate. Baltic nations are on high alert, with NATO increasing presence in the region.
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.
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.
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.
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.
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.
A Cyprus-flagged bulker, the Maccoa, has been stuck in Canada’s St. Lawrence River since December 24. Plans to free the vessel involve lightering, the second time in a month a bulker in the river needed to remove cargo to become unstuck. Efforts to free the ship are underway, with a target date of January 5.
The ATSB issued safety recommendations after an electrical short circuit caused a bulk carrier to run aground in Port Hedland, Western Australia. The incident led to a collision with the channel wall and damage to the ship. The investigation highlighted the importance of eliminating single points of failure in safety-critical operations.
