Poseidon Principles expands to assess ESG standards in shipping
The Poseidon Principles is set to expand beyond its original climate origins to encompass many other environmental, social, and governance (ESG) aspects. The Poseidon Principles Association, known for integrating climate considerations into financial lending and pioneering the assessment and disclosure of climate alignment in ship finance portfolios, has decided to create the Future Principles Committee. […]
Giant MSC Marie sets Panama transit record
In another sign that operations are getting back to normal at the Panama Canal, the waterway on Friday saw a boxship cargo record broken. The 366 m long, 17,640 teu MSC Marie has become the largest container vessel to transit the canal’s neopanamax locks, surpassing the 17,312 teu Ever Max which passed through Panama a […]
The shipping industry’s long voyage toward supply chain transparency
More companies are recognising the necessity of better reporting and considering how a collaborative approach can help, writes Dr Paul Stanley, the CEO of Achilles. A combination of tightening regulation and the trend towards ESG reporting are creating market pressure for supply chain due diligence and transparency across many sectors. The maritime industry is no […]
COSCO strikes mammoth order for 42 bulkers
COSCO Shipping’s ordering spree has continued with a massive newbuilding programme in the dry bulk segment. The Chinese state-owned shipping giant has commissioned 42 bulker newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in two separate deals worth more than $2bn in aggregate ($1.8bn excluding tax). COSCO Heavy yards will be […]
Purus in for more midsize gas carriers
UK-based owner Purus Marine is expanding its fleet of medium-sized gas carriers to six with the order of two additional 45,000 cu m vessels at Hyundai Mipo Dockyard. In May last year, Purus booked four newbuilds at the South Korean yard for delivery in 2025 and 2026 and secured options for two more ships, which […]
Icon Offshore to add 40 ships in deals with Yinson and Liannex
Malaysian OSV owner Icon Offshore is set to swell its fleet via multiple deals that include compatriot Yinson Group and a company controlled by Yinson’s founder and chairman Lim Han Weng. The Bursa Malaysia listed firm with around 20 OSVs will be adding 40 additional ships, 36 of which from Lim’s Liannex Corp, while the […]
Adani takes over Astro Offshore
India’s Adani Ports and Special Economic Zone (APSEZ) has acquired a majority stake in Dubai-based OSV owner Astro Offshore. The deal worth $185m in cash will see APSEZ control 80% of Astro and a fleet of 26 offshore support vessels, comprising anchor handling tugs, flat top barges, multipurpose support units and workboats. APSEZ, which currently […]