Further evidence of just what a record year it has been for container shipping comes from Singapore, where one liner, which came very close to financial oblivion last year, is now coming out of its debt workout early doors. SS Teo-led Pacific International Lines (PIL), the world’s 12th largest carri
China’s near 100% monopoly of the container manufacturing business could have an Asian rival soon. Two South Korean firms – Seojin Systems and Ace Engineering – are constructing a container factory in Haiphong, Vietnam, due to go into operation in the middle of next year. The project is supported by
John McCown from Blue Alpha Capital, who worked with container shipping pioneer Malcom McLean for 20 years, is calling for the creation of a dedicated American carrier shifting 53 foot boxes from China. Here he explains how it could work. Container shipping is reporting exceptional results with reco
Wärtsilä has embarked on a new project to produce hydrogen as marine fuel from LNG onboard vessels. The Finnish technology group has joined forces with the Italian class society RINA, ABB, Metacon’s subsidiary Helbio, the Liberian Registry, and an energy major to develop a solution that will exceed
Swiss engine designer WinGD plans to launch engines able to run on methanol and ammonia from 2024 and 2025 respectively, based on its diesel-fuelled X engines and dual-fuel X-DF engines, already compatible with liquid biofuel or biogas. The ability to use zero carbon or carbon neutral fuels such as
Dutch ship finance specialists PROW Capital have launched a €420m ($471m) green shipping fund that provides credit to shipowners for investments in new and existing vessels or retrofits that demonstrate measurable emissions reductions. To qualify for this new Dutch financing, vessels must outperform
Wellington Koo, executive director at Valles Steamship, has been elected the new chairman of the Hong Kong Shipowners Association (HKSOA), replacing Anglo-Eastern’s Bjorn Hojgaard who has completed his two-year term at the shipping body. Angad Banga, of The Caravel Group, was elected deputy chairman
The government of Canada and the Port of Vancouver have joined forces to help address supply chain disruptions resulting from the British Columbia floods. With C$4.1m ($3.2m) contributed by the government of Canada through the National Trade Corridors Fund, the port will prepare an undeveloped 40-ac
Singapore offshore vessel operator Swire Pacific Offshore (SPO) has fallen victim to a cyber attack, resulting in the loss of some confidential proprietary commercial information along with some personal data. The company has not confirmed if the data breach is ransomware-based, but the Cl0p ransomw
Singapore’s Keppel Offshore & Marine, through its subsidiary Keppel Shipyard, has been awarded work worth around S$200m ($146.3m) for the conversion of floating storage and regasification unit (FSRU) and the integration of floating production storage and offloading vessel (FPSO). For the first proje
