Globalisation Slowdown Heralds "Brave New World" Warns IUMI President
Geopolitical conflicts and shifting trade patterns are redefining risks and opportunities for the marine insurance sector.Opening this year’s International Union of Marine Insurance (IUMI) conference in Singapore, IUMI President Frédéric Denèfle warned that marine insurers are facing significant change as the world approaches the end of an era of seamless globalisation.Denèfle reflected on the deepening shifts in global trade — a theme he has raised in previous IUMI conferences but says has now reached a critical turning point:“The end of globalisation is fast approaching,” he said.
eCap Marine to Provide Fuel Cell Power to European Newbuilds
eCap Marine has secured two contracts to supply hydrogen-based propulsion systems for zero-emission vessels. The Hamburg-based engineering specialist will deliver hydrogen fuel cell power solutions for bulk carriers for Møre Sjø and short-sea container vessels for Samskip.eCap Marine is one of the very few companies worldwide to have retrofitted a commercial vessel, the offshore supply vessel Coastal Liberty, with hydrogen-powered propulsion. The expertise derived from this project opened the doors for another significant order for eCap Marine.
ABS, Herbert Engineering Report Details Design Considerations for Floating Data Centers
How can the global energy grid keep pace with fast-growing demand from new data centers supporting artificial intelligence (AI) and cloud computing? Nuclear energy and coastal waters offer a potential answer.The potential for floating nuclear-powered data centers is explored in depth in the latest research from ABS and Herbert Engineering. Pathways to a Low Carbon Future Floating Nuclear Power Data Center details design considerations for a floating data center that would use…
RIB Boat Manufacturer Novielli to Set Up New Production Site
Novielli Boats maintains a distinguished position in the global RIB boat (Rigid Inflatable Boat) market, thanks to advanced engineering principles, attention to structural integrity, and a keen focus on operator experience. With a production schedule that has accelerated in recent years, the brand’s flagship models have become the choice of both commercial outfits and recreational enthusiasts seeking reliability and refined power on open water. The growing demand for vessels that embody functional aesthetics…
HGK Shipping Acquires BeKa HGK GmbH
Inland waterway shipping company HGK Shipping acquired the remaining 60% of BeKa HGK GmbH as of December 14, 2022, a strategic decision that the company says "significantly intensify its business activities on the Upper Rhine, Danube and Mosel rivers in its dry shipping division." The previous co-shareholder, Monique Hezel-Reyntjens, will continue to manage the business of BeKa HGK. With the takeover, BeKa HGK is assigned to the dry shipping corporate division within HGK Shipping.
Moscow Eyes Ban on Foreign Ships Carrying Russian Fuel via Northern Sea Route
Russia is considering banning foreign vessels from shipping Russian energy cargoes via the Northern Sea Route, as well as from icebreaking and coastal navigation, the Kommersant newspaper reported on Tuesday citing a draft government resolution.The step, proposed by the Industry and Trade Ministry, would restrict vessels built outside Russia on the Northern Sea Route that Moscow wants to become a major shipping lane as the Arctic warms at a faster rate than the rest of the world.The ministry did not immediately respond to a request for comment.Kommersant reported that the ministry on Nov.
