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Associated Press
24-06-2025
- Business
- Associated Press
MARITIME PARTNERS ANNOUNCES ZERO-EMISSION FERRY REFINANCING WITH SWITCH MARITIME
Financing Deal Paves Way for Upgraded Hydrogen-Powered Marine Technology NEW ORLEANS, June 24, 2025 /PRNewswire/ -- Maritime Partners, LLC ('Maritime Partners'), a leading provider of maritime financing solutions primarily focused on Jones Act vessels, has announced the successful closing of a sale leaseback refinancing of the ground-breaking, hydrogen-powered passenger ferry 'Sea Change,' developed by SWITCH Maritime LLC ('SWITCH'). The transaction marks Maritime Partners' entry into the ferry sector, and the first in a partnership between Maritime Partners and SWITCH focused on bringing next-generation technology and financing solutions to the aging U.S. ferry fleet. 'This partnership demonstrates Maritime Partners' continued commitment to innovation, and to expanding our financing solutions into more critical transportation segments of the maritime industry that require capital to renew and future-proof their fleets,' said Dave Lee, VP of Technology & Innovation at Maritime Partners. In 2024, 'Sea Change,' a 75-passenger ferry and SWITCH's first vessel, began commercial operation in San Francisco Bay. SWITCH expects to use the proceeds of the refinancing deal to complete engineering and support the next-phase build cycle, with zero-emission vessels that can meet the same size and performance as the diesel vessels needing replacement in major U.S. markets, such as San Francisco, Seattle, Boston and New York City. 'We're excited to build on the foundation that we've established with the Sea Change and start our next build cycle,' said Pace Ralli, CEO at SWITCH Maritime. 'Core to advancing our mission is being able to finance projects on the leading edge of the technology adoption curve, and our partnership and strategic alignment with Maritime Partners helps accelerate that growth trajectory.' Leveraging technological learnings and regulatory frameworks from its first 75-passenger ferry, SWITCH is bringing nearly complete 150- and 300-passenger catamaran fast ferry designs, as well as a larger steel-hull RoPax ferry design, to the U.S. market to help replace aging diesel vessels. According to recent data, there are more than 800 ferries in the U.S. that are all suitable to be transitioned to electric propulsion, powered by batteries and/or hydrogen fuel cells. The technology is generally applicable to commercial harbor craft, of which there are approximately 4,400 vessels suitable for upgrade to zero emissions. SWITCH specializes in providing existing operators easier and lower risk ways to adopt next-gen vessels into their fleets by offering a vessel lease along with support services for fueling, crew training, maintenance and more. The 'Sea Change' demonstrates the viability of the technology in commercial operation as part of the public San Francisco Bay Ferry system, paving the way for future deployments. 'We are impressed by the SWITCH team's ability to successfully execute on difficult design, construction and regulatory challenges, and their work is very complimentary to our work in larger vessel types, such as our projects with e1 Marine. Maritime Partners is here to support the expansion of SWITCH's fleet of next-generation vessels with financing solutions for U.S. and global ferry operators,' said Austin Sperry, co-founder and president of Maritime Partners. Maritime Partners continues to grow and evolve, setting itself apart as a premier provider of maritime financing solutions in the Jones Act space and wider U.S. maritime industry. ABOUT MARITIME PARTNERS Maritime Partners is a leading provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade. With a managed fleet of approximately 1,800 vessels in service, we offer tailored leasing services to operators across the full spectrum of credit quality. A privately held company founded in 2015, Maritime Partners provides the assets that transport the commodities that represent the primary building blocks of the domestic economy, including agricultural products, chemicals, aggregates, crude oil, and refined petroleum products. Our management team leverages more than 50 years of operational experience in chartering, asset management, shipbuilding, and financing across all marine asset classes. To learn more about Maritime Partners please visit ABOUT SWITCH Established in 2018, SWITCH Maritime is focused on lowering the barriers for public and private ferry operators to renew their carbon-intensive diesel-powered fleets with zero-emissions technologies, while reducing operating and fueling costs over the lifetime of their vessels. By bearing the regulatory and construction risks for existing operators, combined with dedicated fuel supply chains and specialized crew training, SWITCH offers operators the ability to lease the new innovative vessels with lower risk – a form of the 'innovation-as-a-service' model to accelerate the energy transition of hard to abate industrial sectors. To learn more about SWITCH please visit CONTACT: Steve Bordes Maritime Partners, LLC [email protected] (504) 264-5870 View original content to download multimedia: SOURCE Maritime Partners
Ya Biladi
09-05-2025
- Automotive
- Ya Biladi
GNV orders four LNG-powered Ropax ships to redefine Mediterranean travel by 2030
GNV has just placed an order for four new RoPax ships powered by liquefied natural gas (LNG) from the Guangzhou Shipyard International in China. These vessels, among the largest and most sustainable in the Mediterranean, will be able to accommodate up to 2,500 passengers with 500 cabins and will offer 3,500 linear meters of garage space for vehicles. With this order, GNV increases the number of new ships expected by 2030 to eight, marking an acceleration in its fleet renewal plan. Pierfrancesco Vago, the company's executive chairman, emphasizes that this strategic investment aims to support ambitious growth by placing sustainability and safety at the heart of its model. The first deliveries will begin in 2028, with one ship every six months. Each vessel will measure 237 meters long and 33 meters wide, with a gross tonnage of 71,300 tons. Powered by LNG, these ferries will incorporate the latest technologies to reduce CO2 emissions per transported unit by more than 50% compared to the previous generation. Designed to offer optimal comfort, these ships will feature spacious panoramic cabins, family areas, digital services, as well as zones reserved for children and pets. The stated goal is to redefine the standards of maritime transport in the Mediterranean. Matteo Catani, CEO of GNV, states that this strategy of expansion and innovation aims to consolidate the company's role as an essential maritime infrastructure, serving both passengers and the territories it connects.
Ya Biladi
08-05-2025
- Automotive
- Ya Biladi
GNV orders four LNG-powered Ropax ships to redefine Mediterranean travel by 2030
GNV has just placed an order for four new RoPax ships powered by liquefied natural gas (LNG) from the Guangzhou Shipyard International in China. These vessels, among the largest and most sustainable in the Mediterranean, will be able to accommodate up to 2,500 passengers with 500 cabins and will offer 3,500 linear meters of garage space for vehicles. With this order, GNV increases the number of new ships expected by 2030 to eight, marking an acceleration in its fleet renewal plan. Pierfrancesco Vago, the company's executive chairman, emphasizes that this strategic investment aims to support ambitious growth by placing sustainability and safety at the heart of its model. The first deliveries will begin in 2028, with one ship every six months. Each vessel will measure 237 meters long and 33 meters wide, with a gross tonnage of 71,300 tons. Powered by LNG, these ferries will incorporate the latest technologies to reduce CO2 emissions per transported unit by more than 50% compared to the previous generation. Designed to offer optimal comfort, these ships will feature spacious panoramic cabins, family areas, digital services, as well as zones reserved for children and pets. The stated goal is to redefine the standards of maritime transport in the Mediterranean. Matteo Catani, CEO of GNV, states that this strategy of expansion and innovation aims to consolidate the company's role as an essential maritime infrastructure, serving both passengers and the territories it connects.
Time of India
22-04-2025
- Business
- Time of India
Driving sustainable growth in the logistics sector
The blogger is an IAS officer of 2002 batch in West Bengal. Saumitra holds a PhD in International Organisation from JNU. He has also done a Post Graduation in Journalism from IIMC, New Delhi and a Post Graduation in Education from IGNOU. Before joining IAS, he has worked with PTI, New Delhi as a Journalist, as a Lecturer with the Meerut University and as an Assistant Regional Director with IGNOU. LESS ... MORE West Bengal is a state uniquely positioned because of its offering many advantages critical to the logistics sector. It is the sixth-largest economy in India, with a Gross State Domestic Product (GSDP) of Rs 17 lakh crore. Growing at an impressive annual rate of 15.24%, West Bengal is one of the fastest growing states in the country. With an estimated population of over 100 million, the state represents both a massive consumption base and an ever-growing industrial hub. What truly sets West Bengal apart, however, is its strategic geographic advantage. Positioned as the gateway to India's Northeast and land-locked neighbors like Bhutan and Nepal, it also acts as India's vital conduit to Southeast Asia. This strategic geographic significance makes West Bengal the ideal destination for investments in the logistics sector. The state's logistics sector is poised for an exponential growth, with the current market size estimated at $20 billion. Our key infrastructures includes strategically-located seaports in the form of the Syama Prasad Mookerjee Port (erstwhile Kolkata Port Trust) and Haldia Dock Complex. Together, they serve as major gateways for cargo, offering robust multi-modal connectivity. Together, these ports handle over 65 million metric tons of cargo annually. The proposed Tajpur Deep-Sea Port is likely to be a game-changer that will accommodate large vessels and significantly reduce logistics costs. Haldia Dock Complex (Image credit: SMP website) Extensive inland waterways provide immense opportunities for development of tourism, passenger and cargo services. With 4,593 kilometers of navigable waterways, including the National Waterway-1 and the Indo-Bangladesh Protocol Route, we are fostering greener and more efficient cargo transport systems. These waterways link us not only to Northeast India, but also to Southeast Asia and beyond, providing a cost-effective alternative to road and rail. Under the West Bengal Inland Water Transport, Logistics and Spatial Development Project, the state is exploring ways and means to operationalise the RoRo (Roll-on, Roll-off) service on NW-1, especially in and around the Kolkata metropolitan area. The initiative, if successful, is likely to reduce travel time for cargo and passenger movement while also significantly reduce the carbon footprints as a result of vehicles having to travel lesser distance. The state has already operationalised RoRo and RoPax services in the Sundarbans and Gangasagar areas. There are many private players who are also bracing to introduce RoRo services along the NW-1, not to speak of Inland Waterways Authority of India (IWAI) similarly conducting studies to this effect. West Bengal Inland Water Transport, Logistics and Spatial Development Project (Image credit: West Bengal government website) Better air connectivity is an advantage that drives the logistics sector in the state. Kolkata Airport, the largest freight facility in eastern India, is a critical hub for high-value and perishable goods. Recent enhancements, such as express courier terminals and the Centre for Perishable Cargo, strengthen its capabilities. The airports at Andal, Bagdogra and Cochbehar add to the available options and could be further leveraged for seamless logistics movement across the state using its airways. The state is further exploring the possibilities at such other locations as Malda, Balurghat, Charra (Purulia), Kalaikunda and Hasimara. West Bengal's extensive road and rail network is yet another infrastructural advantage that catalyses the logistics sector. Our road network spans over 100,000 kilometers, with 33 national highways connecting the state to the neighboring regions. Additionally, 1,409 kilometers of the Eastern Dedicated Freight Corridor run through West Bengal, connecting Dankuni to Uttar Pradesh and beyond. This must be leveraged to the advantage of smooth cargo movement from West Bengal to the other states. Extensive warehousing facilities including better inventory management practices and cold chain networks, as existing in the state, provide the enabling springboard for the sector. It is notable that West Bengal leads eastern India in warehousing capacity, with hubs like Dankuni and NH-16 witnessing a surge in demand. Modern facilities cater to sectors like e-commerce, FMCG and pharmaceuticals, meeting the needs of a fast-evolving market. Now, what makes West Bengal a preferred destination for logistics investment? These three core drivers include a conducive industrial ecosystem, well-endowed economic corridors and and strategic geographic location. West Bengal is home to a thriving industrial base, from MSMEs to large-scale enterprises. The state's Micro, Small, and Medium Enterprises (MSME) sector boasts over 42 lakh units, contributing 7.2% to India's total MSMEs. Our industrial clusters span sectors like textiles, leather, chemicals, and hi-tech electronics, driving demand for logistics services. The state serves as the terminus for several mega-corridors, including the Amritsar-Kolkata Industrial Corridor and the East Coast Economic Corridor. These corridors promise seamless connectivity to global value chains and open doors for exports and imports, enhancing the state's logistics ecosystem. West Bengal's connectivity with Southeast Asia through projects like the Kaladan Multimodal Transit Transport Project and the Trilateral Highway (India-Myanmar-Thailand) positions us as a strategic partner for India's integration into global value chains. Route of Amritsar-Kolkata Industrial Corridor (Image credit: NICDC) The Government of West Bengal is committed to creating an investor-friendly environment. The West Bengal Logistics Policy, 2023 embodies this vision. Some of the key features include industry status to the logistics sector, development of multi-modal logistics parks and freight villages, dedicated land banks for logistics infrastructure, streamlined approvals through an integrated single-window system, development of green logistics and the adoption of digital technologies and the existence of the West Bengal Logistics Centre of Excellence for fostering innovation and skill development. Additionally, initiatives like the West Bengal Apprenticeship Promotion Scheme and the Utkarsh Bangla Scheme, as conceived and stewarded by the Department of Technical Education, Training and Skill Development, are ensuring a ready-made pool of skilled workforce tailored to the sector's needs. Premier institutions such as IIT Kharagpur and IIM Calcutta complement this effort by nurturing managerial talent and innovation. Industries and businesses are availing the opportunity for sector-specific customized capacity building of human resources as required for spurring the economic and commercial activities in repective sector. Utkarsh Bangla Scheme (Image credit: NITI Aayog) As global supply chains shift toward greener practices, West Bengal is leading the charge with initiatives in green logistics. From leveraging inland waterways to reduce carbon footprints to integrating renewable energy in logistics parks, sustainability is at the heart of our strategy. Furthermore, the 'Blue Economy'—focusing on fisheries, maritime tourism, and coastal trade—is further set to unlock significant opportunities. The rise of e-commerce has also transformed logistics. Companies like Amazon and Flipkart are investing heavily in the state, creating a ripple effect in warehousing and last-mile delivery solutions. Quick commerce, driven by demand for shorter-delivery times, is further fueling the need for modern infrastructure and technological innovation. West Bengal's logistics story is one of opportunity and transformation. The state's strategic location, growing industrial base, skilled workforce, and investor-friendly policies make it the ideal destination for those looking to make impactful investments. From infrastructure development to operational innovation, the opportunities here are vast and varied. Whether it is developing multi-modal logistics parks, investing in cold chain solutions, or pioneering green logistics practices, West Bengal offers a platform for sustainable and profitable ventures. Leveraging all these advantages, the State has already created a logistics ecosystem that not only powers economic growth, but also enhances the quality of life for Bengal's strong infrastructures, ingenuous policies, facilitatory ecosystem and a strong commitment provide the enabling ambience for everyone to be part of this fascinating growth story. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
