PROW Capital has announced the launch of the green shipping fund (GSF), a EUR 420 million debt fund that provides credit to shipowners for investments in new and existing vessels or retrofits that demonstrate measurable emissions reductions. The funding of GSF has been structured and arranged in close cooperation with Banco Santander and supported by...
Marine engineering and propulsion specialist Royston has secured government funding for a collaborative project to examine the potential of new technologies to reduce the carbon footprint of river ferry services. The move will see the UK-based firm working in local partnership with Newcastle University and ferry operator Nexus to look at ways to decarbonise the...
Kongsberg Maritime has celebrated a world first by testing and verifying a full-scale, full-size, zero-emissions drivetrain powered by hydrogen fuel cells designed for ships and ferries. The project demonstrates that the technology is now mature for using hydrogen (H2) as an energy carrier. The program is the third and final part of the EU funded project...
The Castor Initiative, a multinational coalition consisting of MISC Berhad (MISC), Lloyd’s Register (LR), Samsung Heavy Industries (SHI), MAN Energy Solutions (MAN), the Maritime and Port Authority of Singapore (MPA) and Yara International (Yara), has welcomed Jurong Port to the partnership that is committed to make zero-emission shipping a reality. This announcement follows another project...
Kongsberg Maritime (KM) has signed a memorandum of understanding (MoU) with Norsepower to add wind propulsion to KM’s integrated power and propulsion systems. Under the MoU, shipowners and shipyards will be able to choose between fully integrated systems, or solutions incorporating stand-alone products. By teaming up with Norsepower, KM adds wind propulsion to its portfolio...
The world’s first electric and self-propelled container ship, the Yara Birkeland, has departed for its maiden voyage in the Oslo fjord. The Yara Birkeland has been developed in collaboration with the Kongsberg Group and was built by VARD with financial support from Enova. The ship will be operated from Maasterlys’ monitoring and operation’s centre in...
Recent reports by the Intergovernmental Panel on Climate Change (IPCC) and developments at the COP26 Climate Summit in Glasgow are a wake-up call that the UN’s International Maritime Organization (IMO) cannot ignore. Countries must now build on their commitments to save the Paris Agreement’s 1.5 degrees Celsius temperature goal with concrete action and halve shipping...
The Institute of Marine Engineering, Science and Technology (IMarEST) is supporting the call for the IMO’s Marine Environment Protection Committee (MEPC) to adopt a clearer target of zero greenhouse gases (GHG) by 2050 – without delays. The MEPC is proposing a resolution on zero emissions by no later than 2050 and has it on its...
Tharsis Sea-River Shipping has concluded the installation of two retractable wing sails on its 88m, 2,364 dwt diesel-electric general cargo vessel, M/V Tharsis. The installation tool place at the Neptune Shipyard in Hardinxveld-Giessendam, near Rotterdam. The work was undertaken at the same time as the vessel was having its air lubrication system upgraded. The 3m...
Energy and marine consultancy AqualisBraemar LOC Group (ABL Group) has entered into an agreement to acquire the UK operations of ship design and marine consultancy company OSD-IMT from Damen Shipyards Group. OSD-IMT is a specialist consultancy in ship design for newbuild, refit and conversion projects. The company operates in all key marine markets – including...
19 nations have agreed today during COP26 to work together on establishing ‘Green Corridors’. These corridors will be shared maritime trade routes on which to scale up zero-emission shipping. The corridors cover both the necessary port infrastructure as well as vessels powered by zero-emission fuels. The goal is to establish six green corridors by 2025,...
Norwegian shipowner Eidesvik Offshore has entered into a memorandum of understanding (MoU) with Aker BP and Alma, a venture under establishment by Clara Venture Labs (under name change from Prototech) to explore opportunities for utilising Alma’s proprietary fuel cell technology to accelerate the move to zero emissions shipping. Specifically, the companies will explore retrofit installation...