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AM Best Affirms Credit Ratings of COSCO SHIPPING Captive Insurance Co., Ltd.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of COSCO SHIPPING Captive Insurance Co., Ltd. (COSCO SHIPPING Captive) (China). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect COSCO SHIPPING Captive’s balance sheet strength, which AM Best assesses as very …

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DNV awards AiP to HD KSOE’s hydrogen system for liquefied hydrogen carrier

DNV has awarded an Approval in Principle (AIP) to HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and its subsidiaries, HD Hyundai Heavy Industry (HD HHI) and Hyundai Mipo Dockyard (HMD) for their new hydrogen system. HD KSOE aims to complete development of the hydrogen carrier technology that enables large-capacity hydrogen transportation and storage by …

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Romania plan to boost Ukraine grain transport achievable, minister says

Romania’s plan to double the monthly transit capacity for Ukrainian grain through its Constanta port to four million metric tons in the coming months remains achievable, the country’s Transport Minister Sorin Grindeanu said on Friday. Constanta on the Black Sea has become Kyiv’s largest alternative export route, with grains arriving by road, rail or barge …

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OCI Global enters into green hydrogen supply agreement with New Fortress Energy’s ZeroParks for green ammonia production in Texas

OCI Global (Euronext: OCI), a world-leading producer of ammonia and methanol has today announced an agreement to offtake green hydrogen from New Fortress Energy Inc.’s (NFE) (NASDAQ: NFE) ZeroParks beginning in 2025, following a competitive bidding process. The agreement will allow OCI Global to significantly scale up green ammonia production capacity to approximately 160,000 tons …

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In focus: Accelerating buildout of sustainable energy mix amid fossil fuel impasse

Last week’s G20 summit in India concluded with mixed progress on environmental issues. The leaders hailed the ambitious new renewable energy goal to “pursue and encourage efforts to triple renewable energy capacity globally” by 2030. However, the gathering was marked with lingering disagreements and weak wording about phasing out fossil fuels.

Wison & Genting sign LNTP deal to buy equipment for FLNG unit in Indonesia

Wison (Nantong) Heavy Industry, an affiliate of Wison Offshore & Marine, and Genting Oil & Gas Limited (GOGL), via its wholly-owned indirect subsidiary PT Layar Nusantara Gas (PTLNG), have entered into a limited notice to proceed agreement (LNTP) to purchase $43.04 million of long lead items for a 1.2 mtpa floating liquified natural gas (FLNG) …

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Next on the horizon: A naming ceremony for an ammonia-powered ship?

Thursday witnessed a momentous occasion in the annals of container shipping, one that reverberated with promises of greener, more sustainable days ahead for the maritime industry. The naming ceremony of the world’s first methanol-powered containership, the Laura Maersk, took center stage, signifying a propulsion revolution that is poised to reshape the future of global shipping. …

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New Safety Assessment Program to Further Improve Safety Management System Processes and Procedures

V., a global ship management and marine services provider, has selected ABSG Consulting Inc. (ABS Consulting), a leading global risk management company, to deliver a major safety initiative across its onshore and at sea operations via a comprehensive Safety Assessment program. The Safety Assessment program will analyze V.’s already robust processes and procedures related to …

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