HMM to acquire 70 green ships by 2030

South Korean shipping company HMM has unveiled a massive KRW 23.5 trillion (17.48 billion) investment in sustainable growth by 2030. As part of a mid-to-long-term strategy, the carrier aims to expand its business portfolio for future growth and drive itself to be “a global green shipping and logistics carrier”. HMM will enhance its capacity to

Shipowners urged to act now to benefit from vessel pooling

CarbonLeap is an independent organization for managing monetized carbon reductions in global transportation. It has advised shipowners to take immediate action to leverage the cost-saving benefits of vessel pooling. The company opines that it is necessary for meeting FuelEU Maritime compliance targets. Further procrastination of the decision to join a pool until early 2026 could

DNV awards Norsepower Rotor Sails™ unique certification

Norsepower, the global leader in mechanical sails, and DNV, the world’s leading classification society, have set another industry milestone with the Type Approval Design Certificate (TADC) award for the explosion-proof (EX) version of the Norsepower Rotor Sail™ (NPRS™) 28m x 4m. As the first-ever approval for a Wind Assisted Propulsion System (WAPS) to be used

ABB, Wallenius Marine partner up to monitor CII performance

Swedish-Swiss equipment provider ABB and Swedish ship design and management company, Wallenius Marine, have joined forces with Danish tanker operator, Terntank, to monitor the Carbon Intensity Indicator (CII) performance aboard six tankers owned by Terntank. As reported, the trial aims to ‘lower emissions and reduce the environmental footprint’ of the shipping industry. ABB revealed that the trial

BERG propulsion contributes to substantial efficiency gains for CMA CGM

Collaboration between BERG Propulsion, shipping and logistics group CMA CGM and ship owner Reederei Rambow has proved pivotal in significant efficiency gains for an 868 TEU container vessel, with the 2007-built ship rejuvenated as one of the top performers in its class. In an innovative retrofit project requested by charterer CMA CGM, BERG worked with

International marine coatings set to help global vessel operators maximize vessel performance

AkzoNobel’s International® marine coatings brand has announced a series of updates to Intertrac® Vision, a revolutionary digital forecasting tool. The latest enhancements include CII rating prediction, EU ETS cost impact and detailed breakdowns of cost savings across multiple dry-dockings, all designed to further support data-driven decision making on fouling control coatings for global vessel operators.

Samskip advances zero-emission shipping, partnering with TECO 2030

 Samskip to announce its partnership in the groundbreaking HyEkoTank project, an initiative supported by the European Union’s Horizon Europe program. As part of its ongoing efforts to reach net zero emissions by 2040, Samskip will retrofit its multipurpose vessel Samskip Kvitnos with cutting-edge hydrogen fuel cell technology developed by TECO 2030. This collaboration will enable

BIMCO to create first CO2 time charter party

BIMCO has started work on developing a new time charter party specifically designed for the maritime transportation of carbon dioxide (CO2). This ‘industry first’ will be particularly relevant for the emerging carbon capture and storage (CCS) market, which is part of global efforts to combat climate change. Christian Hoppe, General Counsel highlights that the target

AYK Energy hails price drop in electrical propulsion tech for ships

Marine battery manufacturer AYK Energy has hailed a significant breakthrough in electric propulsion technology for ships with what it claims is the first battery sold at $300 per kWh. AYK founder Chris Kruger said the milestone will accelerate the adoption of battery powered vessels. He said the previous industry standard price was around $450 to

BPCL to invest Rs 75,000 cr in expanding refining capacity

State-run Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 75,000 crore to expand refining and petrochemicals capacity over the next five years, company chairman G Krishnakumar told shareholders at the company’s annual general meeting.The ethylene cracker project at Bina refinery in Madhya Pradesh, conceived at a gross cost of Rs 49,000 crore, involves brownfield expansion