Author: Ruth M
September 1, 2025 — Swedish shipping company Furetank has strengthened its position as one of Europe’s most proactive operators in maritime decarbonization, unveiling two major initiatives: a full transition of its EU-based fleet to biomethane and the creation of a new carbon trading subsidiary. Fleet Powered by Biomethane Furetank announced that its modern Vinga-series dual-fuel tankers will run entirely on mass-balanced biomethane during 2025. The renewable fuel is produced from biogas sourced from agricultural and organic waste, injected into the European gas grid, and then allocated to end users under a certified mass-balance system. This approach ensures compliance with the…
A Liberian-flagged oil tanker managed by Eastern Pacific Shipping narrowly escaped damage on Monday after Yemen’s Houthi rebels launched a missile strike in the Red Sea. The vessel, identified as Scarlet Ray, was transiting the waterway when the projectile landed close by, according to a report from the United Kingdom Maritime Trade Operations (UKMTO). While the attack created a loud blast that was heard on board, the tanker itself sustained no damage and continued its voyage safely. Eastern Pacific Shipping, based in Singapore and controlled by Israeli billionaire Idan Ofer, has previously been singled out by the Houthis. The rebel…
The Port of Aveiro has launched a new public tender as part of its long-term plan to introduce on-shore power supply (OPS) capabilities, a move aimed at decarbonising port operations and aligning with European climate goals. The tender, announced in May 2025, covers the construction of a 60/15 kV substation with two 20 MVA transformers inside the port. The project is valued at approximately €8.1 million and carries an execution period of 480 days. Once completed, the substation will ensure a reliable energy backbone to supply ships with shore power while berthed, reducing the need for auxiliary engines and cutting…
A migrant vessel carrying more than 160 people capsized off the coast of Mauritania earlier this week, leaving at least 70 confirmed dead and dozens more feared missing, according to official reports and humanitarian organizations. The Mauritanian coast guard initially confirmed 49 fatalities, with around 100 people still unaccounted for. Updated figures from officials later placed the toll at 69 deaths, alongside 17 survivors who were rescued after clinging to debris. The victims were largely migrants from The Gambia and Senegal, attempting the perilous Atlantic crossing to the Canary Islands, a common gateway to Europe. Spanish media, citing the news…
COSCO Shipping Holdings, the container shipping and port arm of China’s state-owned COSCO Group, reported steady profit growth in the first half of 2025, supported by rising cargo volumes and strong terminal throughput. The company posted revenue of CNY 109.1 billion for the period, up 7.8 percent from CNY 101.2 billion in the same period of 2024. Net profit attributable to equity holders rose to CNY 17.5 billion, representing a year-on-year increase of 3.9 percent. Operating profit also strengthened, with earnings before interest and tax (EBIT) climbing to RMB 25.5 billion, a 3.4 percent gain, reflecting disciplined cost management and…
Auramarine, a leading fuel supply system provider, has delivered methanol fuel supply systems for two new hybrid chemical tankers under construction for Terntank. The move highlights the growing role of methanol in the maritime industry’s decarbonisation strategy and strengthens Terntank’s position as one of the frontrunners in sustainable short-sea shipping. The two vessels, designed as hybrid tankers, will integrate battery packs, shore power connections, and wind-assisted propulsion technologies in addition to Auramarine’s methanol systems. This combination will allow for flexible, low-emission operations in compliance with tightening European and international environmental regulations. Supporting Methanol as a Marine Fuel Auramarine’s fuel supply…
Singapore / Global – August 27, 2025 — Leading maritime engineering and shipbuilding group Seatrium has been awarded a significant contract by Golar Hilli Corporation, a subsidiary of Golar LNG, to upgrade the floating liquefied natural gas unit Hilli Episeyo. The work is scheduled to begin in the third quarter of 2026 and will extend the vessel’s operational life while enhancing its winter resilience. Scope of Upgrade and Redeployment Plans The contract covers a comprehensive suite of modifications designed for redeployment offshore Argentina’s Gulf of San Matías, in Rio Negro Province. Key components of the upgrade include: Once upgraded, the…
Trieste, Italy – August 2025 — A fierce rivalry has intensified between shipping giants Grimaldi Euromed and Danish competitor DFDS over control of the lucrative Turkey–Trieste Ro-Ro traffic corridor. Grimaldi, which entered the route in September 2024, has now formally accused DFDS of undermining fair competition and putting up obstacles for new market entrants. Grimaldi Pushes Back Against Alleged Market Blocking Grimaldi released a statement rejecting claims that Italy’s Ministry of Infrastructure and Transport (MIT) and the Port Authority pressured DFDS to accommodate Grimaldi at the HHLA PLT Italy terminal. The company emphasized that competition is essential for efficient trade…
Santander, Spain – August 2025 — The Port of Santander continues to scale operations and enhance sustainability as it builds on a record-setting 2024. Key infrastructure milestones, including a container terminal expansion, rail connectivity upgrades, and a strategic investment roadmap through 2030, are fueling its drive toward higher capacity, improved intermodal efficiency, and energy modernization. Record-Breaking 2024: Traffic & Financial Performance In 2024, Santander Port achieved a historic total cargo volume of 7.15 million tonnes, marking a 2.4% increase over the previous record. General cargo surged 24%, outpacing both dry and liquid bulk. Container operations saw a dramatic spike, climbing…
New York / South Korea – August 2025 — International Seaways, Inc. has finalized financing arrangements to support construction of six scrubber-fitted, LNG dual-fuel ready LR1 vessels currently under contract with K Shipbuilding Co. in South Korea. The total package is valued at approximately $359 million, with about $300 million remaining in construction commitments to be funded through a blend of long-term financing and available liquidity. The vessels are slated for delivery from the third quarter of 2025 through the third quarter of 2026. Fleet Renewal & Financing Strategy This investment is part of International Seaways’ broader fleet optimization program,…