Latest news with #shipowners
Washington Post
3 days ago
- Business
- Washington Post
Goods delivered by nuclear power? UN agency chief meets Greek shipowners to discuss the idea
ATHENS, Greece — The head of the International Atomic Energy Agency, Rafael Mariano Grossi, met with Greek shipowners on Thursday to discuss the potential use of nuclear power in future global goods transportation. The United Nations agency recently launched an initiative to develop a regulatory and safety framework for deploying nuclear reactors on commercial maritime vessels. Its aim is to reduce global emissions, improve efficiency in the shipping industry, and ultimately help lower food prices.
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South China Morning Post
08-05-2025
- Business
- South China Morning Post
Sustainable Ship Financing and the Social Aspect of ESG
[The content of this article has been produced by our advertising partner.] Advertisement As a major international maritime centre, Hong Kong is home to some of the world's leading shipowners, operators and managers. As such they are often owners of capital assets worth many millions of US dollars, and employers of hundreds or even thousands of seafarers and onshore staff. Mindful of the impact their policies and actions may have on individuals, society and the global environment, they are embracing ESG to demonstrate social commitment and contributing positively to society. A duty of care to employees at sea Working and living onboard a ship presents challenges rarely found in land-based occupations. Not least the requirement to work onboard for many months at a time without a break. Achieving a work life balance therefore can be difficult. The onus is therefore on the shipowner or ship manager to ensure the welfare of its ocean going staff. The minimum requirements for seafarers' employment are governed by the International Labour Organization's Maritime Labour Convention 2006. The Convention determines conditions of employment, accommodation, recreational facilities, food and catering, health protection, medical care, welfare and social security protection. Advertisement In a working environment that demands experience, crew retention is an important factor.
Zawya
06-05-2025
- Business
- Zawya
Global trade complexity drives innovation in maritime solutions
As maritime transportation continues to be a key propeller of global trade, it has an indispensable position in the global economy. Over the years, the industry has entered into a new era defined by rapid integration of advanced technologies and digitalisation. These changes are evidently reshaping maritime operations, especially in the area of navigation, communication and automation. These technologies are not only offering unprecedented levels of efficiency, but also are becoming a necessary factor for the industry players' survival in a highly competitive and regulated environment. According to the World Trade Organization (WTO), global trade is expected to continue expanding in 2025 and 2026, with merchandise trade volume gradually increasing in line with global GDP growth. Trade in commercial services is projected to grow at an even faster pace. The Middle East is also anticipated to see a rise in export volumes. This increasing trade volume underscores the need for advanced maritime solutions capable of handling greater complexity and ensuring efficient vessel management, safety, and environmental compliance. The growing complexity of environmental regulations, such as the IMO's Global Sulphur Cap which began in 2020, have forced shipowners to use cleaner and efficient technologies to reduce emissions. Amidst this, advanced navigation and communication systems aid industry players with precise and real-time data that enables them to navigate the tough routes with great safety and accuracy. For instance, GPS, which was launched between 1978 and 1985 with 11 satellites, now has about 24 satellites that orbit the Earth and send radio signals from space, further signifying the increasing demand for advanced navigation systems. In the current scenario, sailors are well-trained to handle modern navigation equipment, as vessels are equipped with advanced systems that provide accurate voyage data. For example, the gyrocompass provides a reliable directional source by accurately referencing the Earth's axis of rotation. As against the magnetic compass, it determines direction without being affected by external magnetic fields. Another key tool is Marine radars, which detect obstacles along the ship's path to prevent collisions. These radars, using microwave propagation, gather data beyond the human eye's reach, ensuring adherence to the International Regulations for Preventing Collisions at Sea (COLREGs) of 1972. Marine radars rely on S-band and X-band systems, which detect targets from long distances, including islands, icebergs and other floating objects, providing essential information to avoid collisions. It uses rotating antennas to scan the surroundings of the vessel. Complementing radar systems, the magnetic compass, which operates with the Earth's magnetic field, serves as the primary direction indicator on the bridge panel. Similarly, the Automatic Radar Plotting Aid (ARPA) is a key feature of modern radar systems that continuously monitor the ship's surroundings by detecting targets including ships, boats and stationary objects. It collects and provides data on their speed and course, helping prevent collisions. The automatic tracking system displays target information in both graphical and numerical formats, further enhancing safety during navigation. Additionally, the echo sounder, a navigation instrument used for nearly a century, measures the depth of water beneath a ship using sound wave transmission. Meanwhile, the Electronic Chart Display and Information System (ECDIS) simplifies locating a ship's position on navigational charts, offering greater accuracy. Modern vessels use marine digital voyage and route planners to avoid harsh weather and other obstacles, calculating the safest and cheapest routes. These advanced tools ensure safer and more efficient maritime operations, pushing operators to adopt these technologies to ensure their competitiveness, compliance and safety. As the trade evolves, the future of maritime industry and its operators depends on its ability to adapt to these changes and leverage the opportunities it offers. * Philip Cherian is CEO of Maritronics, Centena Group's Maritime division Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
06-05-2025
- Business
- Trade Arabia
Global trade complexity drives innovation in maritime solutions
As maritime transportation continues to be a key propeller of global trade, it has an indispensable position in the global economy. Over the years, the industry has entered into a new era defined by rapid integration of advanced technologies and digitalisation. These changes are evidently reshaping maritime operations, especially in the area of navigation, communication and automation. These technologies are not only offering unprecedented levels of efficiency, but also are becoming a necessary factor for the industry players' survival in a highly competitive and regulated environment. According to the World Trade Organization (WTO), global trade is expected to continue expanding in 2025 and 2026, with merchandise trade volume gradually increasing in line with global GDP growth. Trade in commercial services is projected to grow at an even faster pace. The Middle East is also anticipated to see a rise in export volumes. This increasing trade volume underscores the need for advanced maritime solutions capable of handling greater complexity and ensuring efficient vessel management, safety, and environmental compliance. The growing complexity of environmental regulations, such as the IMO's Global Sulphur Cap which began in 2020, have forced shipowners to use cleaner and efficient technologies to reduce emissions. Amidst this, advanced navigation and communication systems aid industry players with precise and real-time data that enables them to navigate the tough routes with great safety and accuracy. For instance, GPS, which was launched between 1978 and 1985 with 11 satellites, now has about 24 satellites that orbit the Earth and send radio signals from space, further signifying the increasing demand for advanced navigation systems. In the current scenario, sailors are well-trained to handle modern navigation equipment, as vessels are equipped with advanced systems that provide accurate voyage data. For example, the gyrocompass provides a reliable directional source by accurately referencing the Earth's axis of rotation. As against the magnetic compass, it determines direction without being affected by external magnetic fields. Another key tool is Marine radars, which detect obstacles along the ship's path to prevent collisions. These radars, using microwave propagation, gather data beyond the human eye's reach, ensuring adherence to the International Regulations for Preventing Collisions at Sea (COLREGs) of 1972. Marine radars rely on S-band and X-band systems, which detect targets from long distances, including islands, icebergs and other floating objects, providing essential information to avoid collisions. It uses rotating antennas to scan the surroundings of the vessel. Complementing radar systems, the magnetic compass, which operates with the Earth's magnetic field, serves as the primary direction indicator on the bridge panel. Similarly, the Automatic Radar Plotting Aid (ARPA) is a key feature of modern radar systems that continuously monitor the ship's surroundings by detecting targets including ships, boats and stationary objects. It collects and provides data on their speed and course, helping prevent collisions. The automatic tracking system displays target information in both graphical and numerical formats, further enhancing safety during navigation. Additionally, the echo sounder, a navigation instrument used for nearly a century, measures the depth of water beneath a ship using sound wave transmission. Meanwhile, the Electronic Chart Display and Information System (ECDIS) simplifies locating a ship's position on navigational charts, offering greater accuracy. Modern vessels use marine digital voyage and route planners to avoid harsh weather and other obstacles, calculating the safest and cheapest routes.
Zawya
06-05-2025
- Business
- Zawya
Nigeria: $700mlm CVFF, Indigenous shipowners scramble for mergers over 15% equity
Nigerian shipowners are currently in a state of confusion over possible mergers and collaboration following the mandatory demand for a 15 percent equity in the provision of the disbursement of the $700 million Cabotage Vessel Financing Fund (CVFF), checks by the Nigerian Tribune has confirmed. Speaking with the Nigerian Tribune exclusively, a Board of Trustee (BoT) member of the Nigerian Shipowners Association (NISA), Mr. Tunji Brown lamented about a lack of collaboration among indigenous shipowners for mergers or even collaboration. According to Mr. Brown, 'The reluctance by indigenous shipowners to unite under mergers during bidding processes has left them vulnerable to competition from international firms. 'However, the recent initiative by the Nigeria Shipowners Association to establish NISA Ocean Transport Limited aims to consolidate Indigenous shipowners, positioning them to compete effectively against foreign entities for Cabotage opportunities. 'NISA already envisaged the issue of merger among indigenous shipowners, and that's why, two years ago, the association formed a company called NISA Ocean Transport Limited. 'The company is a wholly owned Nigerian company where every shipowner can subscribe via merger or collaborative initiative. 'Any shipowner that agrees to be part of the company will deposit their financial resources in the company. It is under that company that everybody who subscribes to merger will apply for CVFF. 'NISA members already know about this, even though we are not shutting the door to members of other associations. But you know in the ship-owning sub-sector, merger issues can be cumbersome. 'Under the NISA initiative, every member of the merger under the NISA Ocean Transport Limited will not have more than 5 percent stake in the company. 'We are also not saying other members who can actually go on their own should not go ahead. The NISA merger initiative is for those who cannot single-handedly provide the 15 percent stake required to access the fund. 'Although we have not seen substantial merger interest from members, we are very optimistic that many of our members will key into the merger initiative because that's the only way we can pull resources together to raise the 15 percent equity fund.' Also speaking with the Nigerian Tribune exclusively, another chieftain of NISA and Managing Director, Peacegate Group, Ayorinde Ade-doyin distanced himself from any merger talks, stating that he does not believe in the disbursement process. In the words of the Peacegate Managing Director, 'How many Nigerian ship owners can raise the 15 percent required to access the CVFF fund? 15 percent of $25 million, that's about four point something million Dollars. Where would shipowners get that from? The CVFF to me is like, government just want to hand over money to the banks again, because many will struggle to repay.' When reminded that the Bank of Industry is involved, the Peacegate Boss explained that, 'Whether Bank of Industry or Bank of Shipping, what I'm saying to you is, there's going to be a lot of issues. Majority will not be able to buy, and again, part of the condition, I can tell you, is going to be that shipowners must have contract. Can you get contract for a vessel that you don't own? You will need to have a vessel for you to be able to bid for a contract.' Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
