The maritime industry is facing an escalating threat from cyberattacks, as digital transformation exposes vulnerabilities in vessel systems, port operations, and global shipping networks. With ships becoming more reliant on automated systems and interconnected networks, hackers are finding new ways to exploit weaknesses, causing significant operational and financial damage to... (more)

In a bold move to accelerate maritime decarbonization, the International Maritime Organization (IMO) has adopted stricter emission reduction targets, aiming to reach net-zero greenhouse gas (GHG) emissions by 2050. These updated regulations are part of a broader revision of the IMO’s Initial GHG Strategy, aligning with global climate goals under... (more)

Ports across the European Union are experiencing significant operational disruptions due to a surge in strikes by dockworkers and related labor unions. Key maritime hubs such as Rotterdam, Hamburg, and Antwerp are facing delays as dockworkers demand better pay and working conditions. The ongoing labor unrest is causing a backlog... (more)

Maersk has made a bold move in its ongoing decarbonization strategy, placing an order for 12 LNG dual-fuel container ships. These new vessels, each with a 16,000 TEU capacity, are designed to operate on both Liquefied Natural Gas (LNG) and conventional fuels, offering flexibility as the company continues to transition... (more)

Grain de Sail, a French sail cargo company and chocolatier, has announced its most ambitious project to date—a 200 TEU sail-powered cargo ship. This new vessel will be a significant step up from their current fleet, with a 360-foot-long design that can carry 2,800 metric tons of cargo. Grain de... (more)

The Port of Shanghai, already the world's busiest container port, is on track to exceed 50 million TEUs (Twenty-foot Equivalent Units) in container throughput for the year 2024. This remarkable milestone further solidifies Shanghai’s status as a global shipping powerhouse, reflecting both the recovery of global trade and the port’s... (more)

In a move towards greener maritime technologies, the heavy-lift vessel Jumbo Jubilee has been equipped with two mechanical sails as part of a new wind-assisted propulsion system. These suction sails, also known as "ventifoils," are designed to harness wind energy, reducing the vessel’s reliance on traditional fuel and cutting down... (more)

Mitsui O.S.K. Lines (MOL) has placed an order for two additional LNG dual-fuel Very Large Crude Carriers (VLCCs), valued at approximately $300 million. This strategic move is part of MOL's broader plan to decarbonize its fleet and increase its LNG-powered vessels by 2030. The newbuilds, each with a capacity of... (more)

Shell has signed a groundbreaking $480 million deal to acquire 10 new product tankers, marking a strategic move to bolster its fleet and meet the growing demand for refined petroleum products. The newbuild vessels, which will feature modern, fuel-efficient technologies, are set to be delivered between 2025 and 2027. This... (more)

PaxOcean, a leading shipbuilding and repair company, is anticipating a significant rise in offshore vessel orders as the offshore energy sector continues to grow. The demand for vessels capable of supporting offshore projects, such as wind farms and oil rigs, is surging due to the global transition towards renewable energy... (more)

Japan's shipping industry is undergoing significant changes, driven by a blend of economic recovery, technological advancements, and increasing demand for decarbonization. As one of the world’s leading maritime nations, Japan is actively exploring ways to expand and innovate, ensuring it stays competitive in an ever-evolving global market. The industry is... (more)

Shipowners around the world are ramping up their investments in newbuild vessels as part of efforts to modernize fleets, meet stricter environmental regulations, and capitalize on favorable market conditions. Global shipbuilding orders have surged to record levels in 2024, fueled by rising demand for container ships, LNG carriers, and dual-fuel... (more)

In a major step toward decarbonizing its fleet, Maersk has placed landmark orders for several LNG dual-fuel vessels. These vessels will be capable of running on both traditional marine fuels and liquefied natural gas (LNG), allowing Maersk to reduce its carbon emissions while meeting growing demand for more sustainable shipping... (more)

Nakilat, Qatar’s leading liquefied natural gas (LNG) shipping company, has reported significant growth in its net profit for the third quarter of 2024. The company's performance continues to showcase its strong position within the global LNG shipping market, driven by stable charter contracts, operational efficiency, and a growing fleet of... (more)

Greek shipowners are ramping up their newbuilding orders as they modernize their fleets and prepare for the future of shipping. The recent uptick in orders reflects confidence in the global shipping market, particularly in sectors like bulk carriers and tankers, where Greece has long held a dominant position. These newbuilds,... (more)

The global shipping industry, already grappling with the aftermath of the COVID-19 pandemic, faces new risks that could significantly impact shipowners and fleet operators in the coming years. These risks, ranging from geopolitical tensions to overcapacity and evolving environmental regulations, present both operational and financial challenges for the industry. Geopolitical Tensions... (more)

The global push for renewable energy, particularly offshore wind, has led to a significant surge in demand for specialized vessels. As offshore wind projects expand across Europe, Asia, and North America, shipping companies are investing in newbuilds designed to meet the unique requirements of this growing industry. These vessels, often... (more)

The Port of Klaipeda, Lithuania, has made a significant step toward advancing green energy by investing $11.4 million in the Baltic region's first green hydrogen production and refueling station. This groundbreaking project positions Klaipeda as a leader in green energy innovation within the maritime sector and signals a shift towards... (more)

After a brief but disruptive strike by the International Longshoremen's Association (ILA), major container ports along the U.S. East and Gulf Coasts have resumed normal operations. The strike, which brought cargo handling to a halt, lasted for several days and raised concerns about further delays and disruptions in supply chains... (more)

A joint venture between Schoeller Holdings and Deutsche Offshore Schifffahrt has announced plans to build four special-purpose vessels (SPVs) aimed at servicing the rapidly growing offshore energy market. These vessels will be tailored to support renewable energy projects, with a particular focus on offshore wind power, a sector that is... (more)

In a troubling escalation of conflict in the Black Sea, a recent Russian missile strike has damaged two merchant ships at the Port of Odesa. This incident raises significant concerns over the safety of maritime routes in the region, which is a crucial hub for global grain shipments and other... (more)

The maritime industry is in the midst of a technological revolution, with artificial intelligence (AI) rapidly transforming how ships are managed, operated, and optimized. As global shipping companies face increasing pressures to reduce costs, improve fuel efficiency, and meet stricter environmental regulations, AI is becoming a game-changer, offering innovative solutions... (more)

The container shipping industry is experiencing a surge in vessel deliveries, with an estimated 2.83 million TEUs (twenty-foot equivalent units) of capacity expected to enter the market in 2024 alone. This represents a record-breaking influx of new vessels and reflects shipowners' growing confidence in the global shipping market. However, this... (more)

European shipowners are intensifying their efforts to ensure that at least 40% of clean shipping fuels are produced locally within Europe. This push is part of a broader maritime industrial strategy aligned with the European Union's Net-Zero Industry Act, which seeks to transition the continent toward cleaner energy sources and... (more)

ESL Shipping, a leading dry bulk operator in the Baltic region, has announced a significant investment in fossil-free vessels as part of its long-term strategy to decarbonize its fleet and support the Nordic maritime industry's green transition. The company, which specializes in transporting raw materials, is moving toward sustainable shipping... (more)

As global environmental regulations tighten, ballast water management (BWM) compliance continues to pose significant challenges for shipowners. The International Maritime Organization's (IMO) Ballast Water Management Convention (BWMC), which aims to prevent the spread of invasive aquatic species through ships' ballast water, requires all ships to have ballast water treatment systems... (more)

Greek shipowners have significantly ramped up their investments in the offshore vessel market, reflecting a strategic shift towards the growing offshore energy sector, particularly renewable energy. In 2024, Greece’s traditionally dominant shipping community has placed orders for both newbuild offshore support vessels and acquired secondhand ships to position themselves at... (more)

The liquefied natural gas (LNG) shipping market is expected to experience a softening in rates over the next few years, with projections indicating that the sector may face lower freight rates until 2026. This anticipated slowdown is largely due to an increase in LNG carrier supply and subdued demand from... (more)

AW Shipping, a joint venture between ADNOC Logistics & Services (ADNOC L&S) and Wanhua Chemical Group, has made a significant move in the decarbonization of shipping by placing a $250 million order for two Very Large Ammonia Carriers (VLACs). These vessels, to be built by China's Jiangnan Shipyard, are among... (more)

China continues to assert its dominance in the global shipbuilding industry, having secured approximately 75% of new shipbuilding orders in 2024. Chinese shipyards have completed an impressive 36.34 million deadweight tons (DWT) of shipbuilding this year, reaffirming their leadership in the sector. This surge in shipbuilding activity is driven by... (more)

Alphard Maritime Group, a major player in the global maritime industry, has announced the establishment of a $500 million shipping fund based in India. The fund, which is expected to operate out of Gujarat International Finance Tec-City (GIFT City), will be used to finance the expansion of Alphard's shipping fleet... (more)

COSCO Shipping, one of the world’s largest shipping companies, has reported a remarkable 67% increase in profits for the first nine months of 2024. This significant rise in profitability was driven by higher freight rates, robust demand for container shipping services, and operational efficiency improvements. The Chinese shipping giant has... (more)

Liquefied natural gas (LNG) is rapidly gaining traction as an alternative marine fuel, with LNG-powered vessels now making up 6% of the global fleet. This shift reflects the shipping industry’s growing commitment to decarbonization and compliance with increasingly stringent environmental regulations set by the International Maritime Organization (IMO). The adoption... (more)

Norway is making significant strides in renewable energy, positioning itself as a leader in floating offshore wind technology. Through a series of new contracts with leading energy companies, Norway is setting the stage for large-scale testing and development of innovative floating wind farms at its Marine Energy Test Centre (METCentre).... (more)

Hyundai Heavy Industries (HHI), one of the world’s leading shipbuilders, has made a significant technological breakthrough with the development of a zero-carbon ammonia dual-fuel engine. This new engine marks a major advancement in the global maritime industry's efforts to transition toward greener, more sustainable energy solutions. Designed to run on... (more)

Dutch heavy-lift shipping company Jumbo has taken a significant step toward reducing its carbon footprint by introducing wind-assisted propulsion technology on one of its heavy-lift vessels. The technology, known as Ventofoils, uses vertical, retractable, wing-like sails to harness wind power, reducing fuel consumption and emissions. This innovative move aligns with... (more)

ESL Shipping, a prominent dry bulk cargo carrier based in the Baltic region, has announced plans to build a fleet of new vessels powered entirely by fossil-free fuels. This bold move positions ESL Shipping at the forefront of the Nordic maritime sector’s green transition, as the industry intensifies its focus... (more)

As Hurricane Milton barrels toward Florida’s west-central coast, government agencies and the maritime industry are racing to secure the state’s fuel reserves. The Category 4 storm is expected to make landfall in the next few days, bringing with it record-breaking winds and heavy rainfall that threaten to disrupt vital energy... (more)

The global fleet of LNG-fueled vessels is on track to double by 2025, as the maritime industry accelerates its efforts to reduce greenhouse gas emissions. This significant growth in the adoption of liquefied natural gas (LNG) as a marine fuel is being driven by both regulatory requirements and the industry's... (more)

The 82nd session of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC), held from September 30 to October 4, 2024, resulted in a number of significant decisions aimed at accelerating the global maritime industry's transition toward greener, more sustainable practices. These outcomes are part of the broader push... (more)