China’s shipping company COSCO Shipping Development has taken delivery of two 700 TEU electric containerships built by COSCO Shipping Heavy Industry (Yangzhou), part of COSCO Shipping Group. COSCO On December 28, 2023, the newbuilds N997 and N998 were named and delivered in Yangzhou. They were named COSCO Shipping Green Water
Italian shipbuilder Fincantieri has secured a “green” loan totaling €415 million intended for the construction of ‘low-carbon’ cruise ship Mein Schiff Relax. Image credit Fincantieri The loan is being provided by Intesa Sanpaolo’s IMI Corporate & Investment Banking Division and Cassa Depositi e Prestiti (CDP)- Mein Schiff Relax is the
China continues to assert its dominance on the global shipbuilding scene, China Daily reported citing data from the Ministry of Industry and Information Technology. Courtesy of Hudong-Zhonghua Shipbuilding China’s shipbuilding output surged by 12.3 percent year-on-year, reaching 38.09 million deadweight tons in the first 11 months of 2023, capturing over
Italian oil and gas company Eni has introduced the first gas into the Tango floating LNG (FLNG) facility moored in Congolese waters. Courtesy of Eni Eni revealed this ‘key milestone for the Congo LNG project’ on December 28, 2023, noting that gas introduction has been achieved in record time – only
U.S. energy company New Fortress Energy (NFE) has signed a definitive agreement to acquire a 1.6 GW capacity reserve contract (PortoCem PPA) from Ceiba Energy that will be transferred to new power assets connected to NFE’s existing LNG terminals in Brazil, enabling NFE to become “leading LNG-to-power company” in the country.
Indian LNG importer Petronet LNG Limited (PLL) has signed binding transaction documents with Gopalpur Ports to set up its maiden LNG terminal on the east coast of India. According to Petronet LNG’s social media update, sub-concession agreement, sub-lease deed, and port service agreement with Gopalpur Ports were signed on December
The government of Brazil has joined the Clean Energy Marine Hubs Initiative (CEM Hubs), an international public-private platform between energy, maritime, shipping and finance communities. The CEM Hubs initiative is a first-of-its-kind, cross-sectoral public-private platform jointly led by an industry task force of CEOs and energy ministers under the banner of
Crowley’s eWolf, the first all-electric ship assist tug in the U.S., has commenced sea trials along the U.S. Gulf Coast, the company confirmed on social media. The ship is being built by Master Boat Builders’ (MBB) shipyard in Coden, Alabama, and is expected to be delivered in 2024. eWolf will
Starting in fiscal 2024, Japanese shipping company NYK plans to launch full-scale trials of the long-term use of biofuels in navigating its existing heavy oil-fired vessels. Image credit: NYK Biofuels are produced from biological sources (biomass), such as waste cooking oil, and are considered to have net-zero CO2 emissions during combustion.
German liquefied gas systems provider TGE Marine has won a supply contract for Northern Lights’ liquified CO2 (LCO2) carrier. Image credit Northern Lights As informed, the contract for the delivery of the cargo handling system was signed during MARINTEC 2023 in Shanghai, China. The agreement was signed with Dalian Shipbuilding Offshore Co. (DSOC).