1. Statement from Guy Platten, Secretary General of the International Chamber of Shipping, ahead of the UN IMO Intersessional Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG 18). Ahead of next week’s critical International Maritime Organization (IMO) GHG working group meeting (ISWG-GHG 18) to further develop MARPOL Convention text to decarbonise shipping by 2050, the Secretary General of the International Chamber of Shipping Guy Platten said:
“We are encouraged that there are now 51 co-sponsors, including the European Commission and ICS, of a joint submission which sets out fit for purpose text in support of a levy-based GHG pricing mechanism, with ships making annual contributions per tonne of CO2 equivalent emitted to a proposed IMO GHG Strategy Implementation Fund.
https://cyprusshippingnews.com/2025/02/17/statement-from-guy-platten-secretary-general-of-the-international-chamber-of-shipping-ahead-of-the-un-imo-intersessional-working-group-on-reduction-of-ghg-emissions-from-ships-iswg-ghg-18/
https://cyprusshippingnews.com/2025/02/17/statement-from-guy-platten-secretary-general-of-the-international-chamber-of-shipping-ahead-of-the-un-imo-intersessional-working-group-on-reduction-of-ghg-emissions-from-ships-iswg-ghg-18/
2. UW Group joins forces with Little Heroes. To mark 25 years of contributions to the maritime industry, the UW Group is proud to join forces with the Little Heroes Foundation through its non-profit initiative, The Life Jacket Foundation.
As the UW Group celebrates a quarter-century of dynamic presence in shipping, it is thrilled to announce its partnership with the Little Heroes Foundation for 2025. This collaboration, facilitated through The Life Jacket Foundation, underscores the group’s unwavering commitment to social responsibility.
https://cyprusshippingnews.com/2025/02/17/uw-group-joins-forces-with-little-heroes/
https://cyprusshippingnews.com/2025/02/17/uw-group-joins-forces-with-little-heroes/
3. Record Profits for HMM and Pan Ocean as Freight Rates Skyrocket. South Korean shipping giants HMM and Pan Ocean have reported record-breaking performances for the past year, driven by a sharp rise in maritime freight rates. This surge, largely attributed to geopolitical tensions such as the Red Sea crisis, has propelled the Shanghai Containerized Freight Index (SCFI) to an average of 2,506 points last year, marking a 149% increase (1,005 points) compared to the previous year.
https://cyprusshippingnews.com/2025/02/17/record-profits-for-hmm-and-pan-ocean-as-freight-rates-skyrocket/
https://cyprusshippingnews.com/2025/02/17/record-profits-for-hmm-and-pan-ocean-as-freight-rates-skyrocket/
4. Ardmore Shipping expects solid product tanker demand. Reported Adjusted earnings of $10.3 million for the three months ended December 31, 2024, or $0.25 Adjusted earnings per basic share and diluted share, compared to Adjusted earnings of $26.1 million, or $0.63 Adjusted earnings per basic share and diluted share for the three months ended December 31, 2023. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.)
https://cyprusshippingnews.com/2025/02/17/ardmore-shipping-expects-solid-product-tanker-demand/
https://cyprusshippingnews.com/2025/02/17/ardmore-shipping-expects-solid-product-tanker-demand/
5. Port of Riga has welcomed MSC INGRID – its largest container ship to date. MSC INGRID – the largest container ship in the history of the port (length -294.06 m, beam -32.25 m, capacity – 53 208 GT) – has been handled in the Port of Riga recently.
The vessel is operated by the Swiss-based international company MSC (Mediterranean Shipping Company), which has included the Port of Riga in its regular container line route.
https://cyprusshippingnews.com/2025/02/14/port-of-riga-has-welcomed-msc-ingrid-its-largest-container-ship-to-date/
https://cyprusshippingnews.com/2025/02/14/port-of-riga-has-welcomed-msc-ingrid-its-largest-container-ship-to-date/
6. Balmoral teams with Korean firms for work on Equinor’s floating wind farm. Balmoral Comtec, a subsidiary of offshore energy supply chain firm Balmoral has signed a memorandum of understanding (MoU) for work on Equinor’s Firefly floating wind project with South Korea-based LS Cable & System and LS Marine Solution.
This agreement follows LS Cable & System’s recent MoU with Norwegian energy giant Equinor for cooperation on the 750 MW Firefly floating offshore wind project in South Korea.
https://splash247.com/balmoral-teams-with-korean-firms-for-work-on-equinors-floating-wind-farm/
https://splash247.com/balmoral-teams-with-korean-firms-for-work-on-equinors-floating-wind-farm/
7. Africa increasingly seen as the next crewing frontier. With shortages of crew from traditional seafaring sourcing nations, Schulte Group shipmanager BSM has turned to West Africa as its new source of seafarers.Germany’s Bernhard Schulte Shipmanagement is diversifying its crew pool by launching a maritime training centre in Ghana, located on the campus of the Regional Maritime University in Accra.
https://splash247.com/africa-increasingly-seen-as-the-next-crewing-frontier/
https://splash247.com/africa-increasingly-seen-as-the-next-crewing-frontier/
8. CORE POWER launches civil nuclear program focused on floating power plants. Shipping nuclear propulsion start-up CORE POWER has announced that it will develop a US-anchored maritime civil nuclear program that will bring floating nuclear power to the market by the mid-2030s.The program, named Liberty, will encompass modular construction of advanced fission technology and create the regulatory and supply chain frameworks necessary to enable this technology to be rolled out worldwide.
https://splash247.com/core-power-launches-civil-nuclear-program-focused-on-floating-power-plants/
https://splash247.com/core-power-launches-civil-nuclear-program-focused-on-floating-power-plants/
9. 49 International Shipping Companies Opt In to Protect Endangered Whales & Reduce Air Pollution in Coastal Communities: 2024 Results and Rankings. Vessels are critical to our economy, with over 80% of the world’s trade facilitated by the maritime industry. The average container ship measures approximately four football fields, carrying about 15,000 standard 20-foot containers. These vessels carry goods and materials across the world’s oceans, often overlapping with important habitat for marine life.
https://gcaptain.com/49-international-shipping-companies-opt-in-to-protect-endangered-whales-reduce-air-pollution-in-coastal-communities-2024-results-and-rankings/
https://gcaptain.com/49-international-shipping-companies-opt-in-to-protect-endangered-whales-reduce-air-pollution-in-coastal-communities-2024-results-and-rankings/
10. Taiwan Strait Not China’s, Taipei Sals After Canadian Warship Passes Through. The Taiwan Strait does not belong to China and any attempts to create tension threaten global security, the island’s defense ministry said on Monday, after Beijing criticized Canada for sailing a warship through the sensitive waterway.
https://gcaptain.com/taiwan-strait-not-chinas-taipei-says-after-canadian-warship-passes-through/
https://gcaptain.com/taiwan-strait-not-chinas-taipei-says-after-canadian-warship-passes-through/