Romanian legislators have passed a new law allowing for offshore wind development, with detailed regulations to follow by mid-2025. Minister of Energy, Sebastian Burduja, predicts offshore wind energy production in the Black Sea by 2032. The government plans to set up leasing activities and approve offshore wind areas by March 2025.
Grafmarine has secured a new partnership with a global leader in the decarbonisation of the international shipping industry. Based in Manchester, this deal aims to help decarbonise the global shipping industry, marking a significant step towards sustainable practices in the maritime sector.
South Korea’s president plans to invest $4 billion in financing to expand the nation’s container ship fleet, adding one million TEU in capacity. This move aims to increase the fleet to 2 million TEU by 2030, with a focus on eco-friendly vessels. HMM, the national champion carrier, stands to benefit from this funding.
ClassNK approved Mitsui E&S Shipbuilding’s methanol fuel delivery system, a milestone in decarbonization efforts. Green methanol’s potential to reduce greenhouse gas emissions is significant, yet safety measures are crucial due to its toxicity and flammability. Adhering to IMO guidelines, ClassNK issued an AiP after confirming the system’s compliance with regulations.
Vietnam Maritime Corp (VIMC) is making a second attempt to sell a 27-year-old handymax bulker, VIMC Green. The partially publicly listed company is preparing for a second sale by tender after initial bids did not meet expectations. Brokers are closely following the sale of the 27,300-dwt vessel.
The innovative Grain de Sail II cargo sail ship, equipped with a state-of-the-art ballast water treatment system from BIO-UV Group, is making sustainable voyages across the Atlantic. This wind-powered vessel, built by Piriou Group, showcases a commitment to eco-friendly navigation and reducing carbon footprints in the maritime industry.
A British investment activism group, ShareAction, has criticized Lloyd’s of London for its lack of environmental and social responsibility. The group suggests imposing new regulations on the insurance marketplace if it does not improve. ShareAction found that Lloyd’s falls short on ESG policies, with managing agents receiving low scores for not adopting net-zero targets.
Subrosa Group (SRG) has launched SRG Maritime Security, a division providing elite armed protection to commercial shipping, offshore industries, private vessels, and superyachts. CEO Niall Burns emphasized the critical need for security in perilous waters, with teams comprised of experienced military personnel offering protection and peace of mind to clients.
Marine insurer Gard warns of a rise in incidents involving mooring lines during high winds, particularly affecting large ships like cruise ships. Defective lines can lead to significant damage, environmental pollution, accidents, and even loss of life. Proper inspection, maintenance, and preparation are key to preventing these dangerous situations.
As the dry season ends, the Panama Canal Authority is adjusting operations based on water levels in Gatun Lake. Increasing transit slots from 24 to 27 per day, they aim to normalize operations by 2025. However, success relies on rainfall patterns and potential restrictions due to water shortages. Long-term solutions are being explored.
The Danish government has announced a ban on discharging scrubber water from ships into Danish waters starting July 1, 2025. Scrubber use has been linked to harmful substances in seawater. Ships must transition to low-sulfur fuel or closed scrubbers by 2025. Denmark aims to regulate maritime areas with regional conventions and push for international regulations.
Premiums for spot shipping biofuels have fallen further at the world’s largest bunkering hub Singapore due to slow demand. The B24 marine biofuel blend recently traded at $120-$130 per tonne over 0.5% low-sulfur fuel oil. Shippers are exploring biofuels like B24, made up of 24% UCOME and 76% VLSFO, to reduce carbon emissions.
A new report provides safety recommendations for establishing environmentally friendly shipping corridors, crucial for the industry’s decarbonization goals. The report, released by the Maritime Technologies Forum, highlights the importance of safety in implementing green corridors, emphasizing risk assessments, collaborative planning, and alternative fuel safety management systems. Flag states and classification societies support these efforts.
Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has received Approval in Principle from ClassNK for its ammonia fuel supply system (AFSS) developed for the X-DF-A engine by WinGD. This milestone aligns with the IMO’s goal of achieving net zero greenhouse gas emissions in the maritime industry by 2050. Mitsubishi Shipbuilding aims to further develop marine ammonia handling systems to promote decarbonization in the maritime sector.
Inflation hawks can now relax as maritime shipping rates are trending down, easing concerns of higher consumer goods prices globally. The spike in rates earlier this year was fueled by pandemic-induced supply chain disruptions. Recent incidents, like the Red Sea shipping lane shutdown by Houthi rebels, have further impacted global shipping routes.
