1. REV Ocean selects V Ships Norway as ship management partner for world’s largest research and expedition vessel. V.Ships, part of V.Group, has announced that it will partner with REV Ocean to provide a tailored suite of ship management services for the world’s largest and most advanced research and expedition vessel, the REV Ocean.
https://cyprusshippingnews.com/2025/02/28/rev-ocean-selects-v-ships-norway-as-ship-management-partner-for-worlds-largest-research-and-expedition-vessel/
2. Vitol, Glencore win $380 million award in Nigerian LNG litigation. Trading houses Vitol and Glencore will receive $380 million in compensation after their gas supplier, trading firm Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer for non-delivery of cargoes, court documents seen by Reuters showed.
https://cyprusshippingnews.com/2025/02/28/vitol-glencore-win-380-million-award-in-nigerian-lng-litigation/
3. Stena Line’s second new ship Stena Connecta launches. Stena Line has reached another major milestone in its NewMax fleet investment programme with a ceremony to mark Stena Connecta launching into the water at the China Merchants Jinling Shipyard, Weihai, China.
https://cyprusshippingnews.com/2025/02/28/stena-lines-second-new-ship-stena-connecta-launches/
4. Landmark MOU signed to simplify the future of digital seafarer certification. The purpose of this pilot is to test the feasibility of a digital system where all seafarer certificates can be securely stored and consolidated, allowing real-time access for all key stakeholders.
The MOU outlines the collaboration on a pilot project to explore the integration of seafarer certification systems to facilitate seamless verification.
https://cyprusshippingnews.com/2025/02/28/landmark-mou-signed-to-simplify-the-future-of-digital-seafarer-certification-2/
5. The London P&I Club reports positive 2025 renewals with strong growth in tonnage and premiums. The London P&I Club has reported strong year-on-year growth for its annual renewals for 2025, underpinned by a 12% growth in mutual tonnage, from 44 million gt up to 49.3 million gt, and a year-on-year increase in premium levels of 13%.
https://cyprusshippingnews.com/2025/02/28/the-london-pi-club-reports-positive-2025-renewals-with-strong-growth-in-tonnage-and-premiums/
6. Frontline seals four-ship refinancing. John Fredriksen’s Frontline has secured a fresh refinancing deal for four of its vessels.
The New York- and Oslo-listed tanker giant said it had entered into three senior secured credit facilities of $239m in total, which will refinance three VLCCs and one suezmax vessel and, in addition, provide revolving credit capacity in a total amount of up to $91.9m.
https://splash247.com/frontline-seals-four-ship-refinancing/
7. Maersk explores ship recycling in Egypt. Maersk has signed a memorandum of understanding in Egypt to explore green ship recycling in the Middle Eastern nation as part of the government’s bid to be less reliant on imported scrap metal.The planned demolition yard will be created at Damietta port to the west of Port Said on the Mediterranean and will be compliant with the incoming Hong Kong Convention on improved ship recycling conditions.
https://splash247.com/maersk-explores-ship-recycling-in-egypt/
8. Geneva Dry Dialogues: Kpler. As the week comes to an end there’s signs that the dry bulk markets – led by capes – are picking up finally. Will this mini-revival be sustainable all the way through to the end of April when Geneva Dry, the global dry bulk summit, returns for its second edition?
https://splash247.com/geneva-dry-dialogues-kpler/
9. Russian Hits Port Infrastructure, Vessel In Ukraine’s Odesa. A Russian missile struck port facilities in Ukraine’s southern city of Odesa on Saturday, injuring two port workers and damaging infrastructure and a vessel, regional governor Oleh Kiper said.Kiper, writing on the Telegram messaging app, said the strike damaged a Panamanian-flagged vessel belonging to a European company. He said emergency crews were at the site and medics were treating the two injured men.
https://gcaptain.com/russian-hits-port-infrastructure-vessel-in-ukraines-odesa/
10. Somalia Weighs Indian Ocean Port Access for Neighboring Ethiopia. Somalia may grant landlocked Ethiopia access to a port on the Indian Ocean, a step that may help end a dispute between the neighboring nations over Addis Ababa’s quest to have a direct trade route to the sea.
https://gcaptain.com/somalia-weighs-indian-ocean-port-access-for-neighboring-ethiopia/