Decarbonising maritime industry will cost $1tn, study says

The shipping industry will need to invest at least $1tn in land-based and ship-related infrastructure to meet the International Maritime Organization’s (IMO) targets for cutting greenhouse gas emissions by 2050, a new study revealed.

Stakeholders in the maritime industry are currently implementing new measures imposed by the IMO to shift to a zero-carbon system within the next three decades and reduce the sector’s total emissions by at least 50% compared to 2008 levels by 2050.

IMO urged to prohibit low-sulphur marine fuel use in Arctic region

The Clean Arctic Alliance (CAA) urged the International Maritime Organization (IMO) to ban ships from using fuels with high black carbon emissions in the Arctic region.

The request is based on the new research that found some of the blended low-sulphur shipping fuels contribute to highly polluting black carbon emissions in the environment.

CAA is a global coalition of environmental organisations that support the ban on heavy fuel oil (HFO) use in the Arctic region.

Genting Hong Kong raises $900m via Genting Dream sale and leaseback

Genting Hong Kong generated $900m through the sale and leaseback of Genting Dream, one of the Dream Cruises’ cruise ships.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Genting Dream is the first ship built under Genting Hong Kong’s premium cruise line brand Dream Cruises. Launched in 2016, the ship has a gross tonnage of 150,000.

The transaction was carried out with a consortium of four Chinese companies, including Bank of Communications Financial Leasing, CMB Financial Leasing, CCB Financial Leasing and China Development Bank Financial Leasing.

New study finds laser technology can enhance underwater object detection

A group of scientists working under Interreg Atlantic Area KETmaritime Project discovered a so-called ‘blue-light’ laser that could radically transform underwater range-finding, imaging and communication within the maritime industry.

The findings were published in a report that looked at the potential of ‘Photonic Marine Applications’.

Carnival to launch four new cruise ships in 2020

British-American cruise operator Carnival announced plans to launch four new cruise ships in 2020.

The four new vessels are Iona for P&O Cruises UK, Enchanted Princess for Princess Cruises, Mardi Gras for Carnival Cruise Line and Costa Firenze for Costa Cruises.

Carnival plans to add 16 new cruise ships to its fleet by 2025.

CCS approves Wartsila’s Exhaust Gas Cleaning system

China Classification Society (CCS) approved technology company Wartsila’s Exhaust Gas Cleaning (EGC) system.

Dalian Shipbuilding Industry placed the order for installation of the system onboard the New Treasure vessel, which is a new very large crude carrier (VLCC).

The vessel is being constructed for Associated Maritime of Hong Kong, a part of the China Merchants Energy Shipping group.

DP World launches new shipping services between UK and India

DP World launched a new shipping service, Al Rawdah, that operates between the UK and the East Coast of India.

The new IEX service is aimed at improving trade opportunities between the two countries. It increases the number of direct services with India to three a week, which is more than in any port in the UK.

Maritime industry companies partner to develop ammonia-fuelled tanker

Major companies in the shipping industry partnered to develop an ammonia-powered tanker to reduce carbon emissions.

MISC Berhad, Samsung Heavy Industries (SHI), Lloyd’s Register and MAN Energy Solutions also joined the project.

The use of ammonia is expected to lead to emission reduction in the shipping industry.

Atlas Ocean Voyages expands fleet with four additional ships

Luxe-adventure cruise brand Atlas Ocean Voyages announced plans to expand its fleet with four additional ships.

The first ship, World Navigator, is expected to be introduced in the middle of 2021.

The operator already opened bookings for the World Navigator’s first season.

Robosys Automation launches AI software to boost automation in shipping

British company Robosys Automation Limited launched the latest version of Voyager 100, an artificial intelligence (AI) software that could allow bridge watchkeepers to control ships and improve safety at Maritime Research Institute Netherlands (MARIN) Wageningen.

Called the ‘junior officer of the watch’ by the autonomous control platform provider, the Voyager 100 software is installed in the bridge and is designed to ‘improve safety, intelligent capability and manpower assistance’, according to the company, allowing bridge watchkeepers to complete other tasks while supervising Voyager 100.