DNV, the worlds leading classification society, has awarded IC Technology (ICT) an Approval in Principle (AiP) for its new liquid hydrogen membrane type containment system. Hydrogen is emerging as a key to enabling the energy transition, in

A Singapore-registered containership X-Press Pearl had caught fire on 20 May 2021 in the waters of Sri Lanka after departing from the Indian port of Hazira. As reported by the ship operator, X-Press Feeders, the ship was carrying 1,486 cont

Volvo Penta is expanding its capabilities, experience, and range by becoming the majority shareholder of Norwegian marine battery and electric driveline solutions supplier ZEM AS. Volvo Penta has announced an exciting new acquisition of ZEM

Landbridge Group signed a sale-leaseback contract of VLCC Landbridge Glory with Taiwans Sincere Navigation Corporation. On May 28, Bridge Poiema Limited, a 55%-owned subsidiary of Sincere Navigation Corporation, acquired a very large crude

On June 1, China Development Bank Leasing announced that six wholly-owned SPV companies (buyers) and six SPV companies (sellers) entered into a ship purchase transaction on May 31, 2021. The buyers agreed to purchase the ship at a price of

Demand drivers and freight rates Driven by the pandemic and stimulus-induced consumer spending on retail goods, container shipping has been a great place to be for carriers and tonnage providers, while proving a headache for those with carg

Demand drivers and freight rates A recent small and short spike in oil product tankers shows just how far the tanker market still has left to go on its recovery journey. LR2 earnings rose to USD 26,823 dollars per day on 26 March as the Sue

Governments of the three countries, together with the Global Maritime Forum and the Mrsk Mc-Kinney Mller Center for Zero Carbon Shipping, will spearhead initiatives decarbonizing the entire maritime value chain. Carrying between 80-90% of g

The Nordic Green Ammonia-Powered Ship concept study brings together key players in the entire value chain for a green ammonia-powered gas carrier. A major conclusion is that green ammonia holds potential to play a significant role in decarb

As part of the companys fleet improvement plan, Wan Hai Lines has confirmed an order of 4 container vessels with SAMSUNG HEAVY INDUSTRIES CO., LTD. The contract was signed on 31st May 2021. The contract includes four (4) 13,100Teu container

On June 1, Dalian COSCO Khi Ship Engineering held a christening ceremony for the two 61,000-dwt bulk carriers DE089/DE090 built for Hong Kong Wah Kwong Shipmanagement. DE089 was christened Darya Heera and DE090 was christened Darya Mira. Th

MAN Energy Solutions has developed a new small-bore engine solution that complies with Chinas Stage II commonly known as the C2-emission standard (GB15097 regulation) due to enter into force in July 2021. The new legislation will primarily

The Baltic exchanges main sea freight index slipped for a fifth straight session on Tuesday as a dip in capesize rates eclipsed gains in the panamax segment. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessel

MAN Energy Solutions has received an order for three 6G70ME-GI engines for three 210,000 DWT bulk carriers built by New Times Shipbuilding for Singapores Eastern Pacific (EPS). The three engines will be produced by MANs licensed manufacture

CTI-Maritec, the maritime industrys leading fuel and environmental technical advisory company has cut ribbon on a new fuel testing centre in Shanghai, China. The official opening today of the new state-of-the-art testing lab, located in the