DNV GL introduced a new methodology for ship management to identify the sources of useful energy that are being wasted aboard ships.
COSSMOS software considers all components on-board a vessel and measures the 'exergy', the maximum useful energy from each component, to quantify energy losses from the hull, propulsion power train, machinery and electrical systems.
DNV GL strategic research and innovation director Rune Torhaug said: "We have revisited the basic and universal laws of thermodynamics to develop a methodology based on exergy."
Petronas successfully launched the hull of its first floating liquefied natural gas (PFLNG 1) facility at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea.
The facility will be the world's first floating LNG in operation, claims the company.
The PFLNG1 vessel, which is known as PFLNG SATU, will operate at Malaysia's Kanowit gas field and will produce 1.2 million tonnes of LNG a year.
The UK and Spanish Governments summoned each other's ambassadors following the entry of Spanish research vessel Ángeles Albariño into the disputed waters off the coast of Gibralter, which both countries claim to be their territory.
According to UK Minister for Europe David Lidington, a Spanish research vessel and a Spanish police ship entered the area without permission.
A Spanish Foreign Ministry spokeswoman said that the Spanish research ship was working alone in Spanish waters, until vessels from the UK Royal Navy and Royal Gibraltar Police showed up to obstruct the ship's work.
The UK Government announced a capital investment of more than £200m to build a new polar ship for environmental research in both Antarctica and the Arctic.
Announced by the Chancellor of the Exchequer, George Osborne MP, the funding will be part of the £1.1bn annual capital budget for science and research over the next five years, which was originally revealed in June 2013.
Osborne said: "One of the final frontiers in the world where there is still much discovery to be done are the polar oceans."
A South Korean passenger ferry capsized off the south-west coast, leaving many people dead and hundreds missing.
According to the South Korea coastguard officials, Sewol, the 146m long ferry was carrying 477 people at the time of the incident but only 164 were confirmed as rescued at the time.
Among the passengers on-board were 338 students and teachers from the Danwon high school in Ansan, Seoul, who were on a field trip to Jeju Island.
Offshore Ship Designers' (OSD) UK division, OSD-IMT, unveiled new designs for 1,350dwt IMT972 offshore wind farm service operation vessels (SOVs).
OSD managing director Michiel Wijsmuller said: "These new designs are based on the outcome of four years of extensive discussions with wind farm developers, operators and maintenance companies."
"They fulfil the operational demands of the wind farm maintenance industry and can also provide logistics support services to transformer platforms."
A division of Huntington Ingalls Industries (HII) Ingalls Shipbuilding secured a contract worth $497m from the US Coast Guard to build seven legend-class national security cutter NSC ships.
The technologically advanced legend-class NSCs are 418ft long with a 54ft beam and displace 4,500t with a full load.
The ships have a range of 12,000 miles, an endurance of 60 days and can reach top speeds of 28k.
GasLog entered into a deal with Methane Services, an affiliate of BG Group, to purchase three additional liquefied natural gas (LNG) carriers for approximately $468m.
In addition, the company recently completed the signed transaction for the purchase of an inital three ships from Methane Services, taking the total vessels ordered to six.
The latest three vessels are 2007-built sister ships of the three already acquired vessels. Each LNG carrier is steam-powered and has a capacity of 145,000m³.