Maritime News

South Korea Allocates US$2.5 Billion To Boost Vessel Capacity Of Smaller Box Lines

  • The South Korean government plans to enhance the locally owned container shipping fleet by allocating around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.
  • As part of plans to grow the locally owned container shipping fleet, the South Korean government will set aside around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.

The kitty is targeted at SM Merchant Marine, commonly...

https://mfame.guru/south-korea-allocates-us2-5-billion-to-boost-vessel-capacity-of-smaller-box-lines/

MISC And AET Pioneer Ammonia Dual-Fuel Aframaxes

  • In a groundbreaking move towards decarbonizing the maritime industry, MISC’s petroleum arm, AET, has entered into Time Charter Party Contracts (TCP) with PETCO Trading Labuan Company Ltd (PTLCL) for the development of the world’s first two ammonia dual-fuel Aframaxes.
  • These vessels will transport products globally while utilizing ammonia as a cleaner alternative to conventional fuel, contributing to industry decarbonization efforts.

The TCP contracts were signed by Mr. Zahid Osman, President &...

https://mfame.guru/misc-and-aet-pioneer-ammonia-dual-fuel-aframaxes/

Pacific Environment, Ulsan Port Authority Join To Decarbonize Ports

  • Ulsan Port Authority (UPA) has signed a memorandum of understanding (MOU) with Pacific Environment (PE) to accelerate the transformation of shipping ports into eco-friendly ones.
  • The two organizations agreed to actively cooperate to support the design and development of decarbonization policies for shipping ports in the Asia-Pacific region and the construction of green shipping routes.

During Singapore Maritime Week 2024, Pacific Environment and the Ulsan Port Authority signed a Memorandum of...

https://mfame.guru/pacific-environment-ulsan-port-authority-join-to-decarbonize-ports/

New Study Sets Out Benefits Of Green Shipping Corridor

  • The study estimates the quantity of near-zero and zero-emission fuels required for this traffic by modelling the adoption of zero and near-zero carbon alternative fuels by vessels operating on the corridor through to 2050.
  • The study highlights the potential socio-economic impact of transitioning to zero and near-zero emission fuels and leveraging on digital solutions.

A year after the signing of a Memorandum of Understanding (MoU) to establish a Green and Digital Shipping Corridor (GDSC), the...

https://mfame.guru/new-study-sets-out-benefits-of-green-shipping-corridor/

Collab On Pilot Study For Maritime Book & Claim System Advances

  • RMI and MMMCZCS further their pilot of the Maritime Book and Claim System through partnership with decarbonization early movers.
  • ZEMBA and Hapag-Lloyd’s involvement in the pilot for developing the Maritime Book and Claim System underscores their commitment to transparency and accountability in emissions reduction.

RMI and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping further their pilot of the Maritime Book and Claim System through partnership with decarbonization early movers,...

https://mfame.guru/collab-on-pilot-study-for-maritime-book-claim-system-advances/

BIMCO: COVID Wiped 24.6M TEUs Off Container Market Growth

Market size excl. COVID effects
  • IMF forecast that the global economy would grow at an average annual rate of 3.5% during 2020-2023, in line with the average annual rate of growth of 3.4% seen during the years leading up to the pandemic. Instead, the global economy ended with an average annual growth rate of only 2.6%.
  • The container market grew at an average annual rate of 0.4% during the 2020-2023 period, equal to a GDP multiplier of just 0.14. Between 2013 and 2019 the GDP multiplier averaged 1.06.

During the past four...

https://mfame.guru/bimco-covid-wiped-24-6m-teus-off-container-market-growth/

EPS & MPA Collaborate On 6 Ammonia Newbuilds

  • EPS has inked an agreement with Singapore’s port authority for six ammonia dual-fuel newbuilds to be registered under the Singapore Registry of Ships on delivery from 2026.
  • EPS has inked memorandum of understanding (MoU) agreements with Singapore’s Maritime and Port Authority (MPA) as well as shipping classification societies ABS and LR.

Eastern Pacific Shipping (EPS) signs Memorandums of Understanding (MoUs) with the Maritime and Port Authority of Singapore (MPA) and classification societies,...

https://mfame.guru/eps-mpa-collaborate-on-6-ammonia-newbuilds/

Foundations Of Sustainability: Lean-Crewed Ships And Green Technology

Ocean Infinity is spearheading the decarbonization of its Armada fleet, aiming for net-zero emissions by 2040. In an interview with Max Hartvigsen and Oliver Hibbert, the company’s Marine and Engineering Directors, we explore their comprehensive strategy for revolutionizing greenship operations.

Building a Foundation: Green Technology and Lean-Crewed Ships

Ocean Infinity focuses on operational efficiency and innovative technology to reduce carbon emissions. They’ve introduced lean-crewed ships...

https://mfame.guru/foundations-of-sustainability-lean-crewed-ships-and-green-technology/

HD KSOE Attains 73% Of Annual Order Target In 100 Days

The Marycam Swan, now known as the Trammo Marycam, is an LPG tanker flying under the flag of Singapore and built by HD KSOE in 2009.

Eco-friendly ships 

HD Hyundai Group’s shipbuilders have achieved 73 percent of this year’s order target in the first 100 days of this year. In particular, they are enjoying a boom in eco-friendly ships for the first time in 15 years, as they have been selecting only high-value-added vessels to fill its docks.

According to the shipbuilding industry on April 15, HD...

https://mfame.guru/hd-ksoe-attains-73-of-annual-order-target-in-100-days/

Maersk Celebrrates 120 Years of Shipping Legacy

  • Danish shipping giant A.P. Moller – Maersk marks its 120th anniversary, commemorating its journey from its origins in Svendborg, Denmark, to a global transportation leader.
  • The company reflects on significant milestones such as entering liner shipping in 1928 and introducing its first large methanol-enabled vessel in 2024.

Today, Danish shipping company A.P. Moller – Maersk celebrates its 120th anniversary, marking a significant milestone in its storied history. From its modest beginnings in...

https://mfame.guru/maersk-celebrrates-120-years-of-shipping-legacy/

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