Laura Maersk now on weekly service to the Port of Gothenburg

A new feeder service started calling regularly at the Port of Gothenburg. The world’s first container ship powered by green methanol, Laura Maersk, operates the service sailing between the Port of Gothenburg and Bremerhaven. Laura Maersk is the first vessel in Maersk’s major initiative to use renewable methanol as a ship fuel. The shipping company

Mitsui invests to support sustainable shipping

Mitsui & Co. has decided to invest in a maritime investment fund, managed by Danish fund management company Navigare Capital Partners, targeting $650 million in capital focusing on sustainable shipping including green vessels and carriers. The company will invest through intermediate companies, together with Mitsui & Co. Alternative Investments Limited, a subsidiary of Mitsui. Navigare

COSCO launches fully-electric 10,000 ton container ship service

Chinese state-owned company COSCO Shipping has launched what it calls the “world’s largest” river-to-sea electric container ship. The Green Water 01 is a 10,000-ton+ fully electric vessel that sets a new benchmark in sustainability in the marine logistics industry. China Ocean Shipping (Group) Company, or COSCO for short, is a state-owned multinational conglomerate headquartered in

CMA CGM invests $214m in shipping decarbonisation

French liner CMA CGM and French public sector investment bank Bpifrance have launched a €200m ($214.5m) fund to push forward the French maritime industry’s energy transition. Of the €200m, €20m will go to help decarbonise fleets of French shipping firms, €110m and €50m will be assigned to grants and equity investments, respectively, for maritime decarbonisation

SEB adds shipping to 2030 net zero target

Swedish bank SEB has set a net zero-aligned 2030 target for the shipping sector in line with its commitment to the Net Zero Banking Alliance. The Net Zero Banking Alliance is a group of global banks committed to financing climate action to transition the real economy to net zero greenhouse gas emissions by 2050 and

BHP to receive first ammonia-fuelled bulk carrier in 2026

BHP Group is planning to receive its first ammonia-fuelled bulk carrier in 2026 as part of the company’s plans to cut shipping emissions. The global mining giant has shortlisted eight companies for the building, operation and fuel supply for at least one such vessel, Rashpal Singh Bhatti, vice president of maritime and supply chain excellence at

LNG bunkering sales begin with strong note in 2024

More than 2,400 vessels are equipped to operate on LNG globally, with another 1,000 vessels ordered, yet to be delivered. It’s worth noting that half of the operational LNG-fueled vessels are LNG carriers. These ships use boil-off gas as fuel, reducing their reliance on external LNG bunkering. Even excluding LNG carriers, the fuel remains the

HMM to significantly expand its fleet by 2030

HMM Co., South Korea’s main sea carrier, plans to significantly expand its fleet of container and bulk carriers by 2030 to boost its global competitiveness. As Korea Economic Daily (KED) reports, HMM aims to increase its cargo capacity to 150 twenty-foot equivalent units (TEU) from the current 92 TEU. This expansion would equate to the

Red Sea rerouteing adding to box shipping’s fuel and emissions costs

The need for container ships to avoid the Red Sea and Suez Canal and instead travel an additional 9,000 nautical miles around Africa’s southernmost point, the Cape of Good Hope, on Asia-Europe routes is pushing up costs. Houthi missile and drone attacks on commercial shipping are now well into their fourth month, and the Iran-backed

Indian Register of Shipping partners GRSE for green energy vessels

Indian Register of Shipping (IRS), a leading international classification society, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Garden Reach Shipbuilders & Engineers Limited (GRSE) on 2 nd March 2024. The partnership marks a significant step towards fostering innovation and sustainability in the maritime industry. The MOU was signed