22 November | terminals
Zergratran has launched a Reg A+ offering to raise initial funding of $75m for the construction of a green shipping corridor that will serve as an alternative to the Panama Canal for shipping containers.
Using a magnetic levitation (Maglev) technology system, the Puerto Internacional Las Americas (PILA) will be an underground tunnel that will transfer containers between fully automated ports on the Atlantic and Pacific coasts of Northern Colombia within 30 minutes.
As a new container shipping route and green shipping tunnel, PILA will start south of the Panama Canal in Northern Colombia.
The shipping route will help link the North Atlantic and North Pacific routes.
It is said to be the first green shipping corridor to adopt sustainable technologies to attain zero emissions.
25 November| fuels
Proman Stena Bulk names its first methanol-powered tanker
Proman Stena Bulk has held a naming ceremony for its new methanol-fuelled tanker in Trinidad and Tobago.
Dubbed Stena Pro Patria, the MOIIMeMAX series ship is the first of the three methanol-fuelled vessels delivered this year to the joint venture (JV) between Stena Bulk and Proman.
The JV took the delivery of Stena Pro Patria in June this year.
It is also anticipated to receive further three new builds between this year and 2024.
The IMOIIMeMax vessel series features design improvements and technologies to enhance energy efficiency and prove the operational viability of methanol as a marine fuel.
Around 2,500tpa of methanol will be used as fuel by the Stena Pro Patria vessel.
This fuel will help significantly decrease the volume of greenhouse gas emissions emitted due to the vessel’s commercial operations compared to conventional marine fuels.
22 November | Fuels
JERA partners NYK and MOL on ammonia transportation study
Japanese energy firm JERA has reached memoranda of understanding with Nippon Yūsen Kabushiki Kaisha (NYK) Line and Mitsui OSK Lines (MOL) to carry out a study on the transportation of fuel ammonia.
Under the study, the entities will assess the transport of fuel ammonia to the Hekinan Thermal Power Plant, where JERA intends to use ammonia in commercial operations from the 2020s.
They will focus on the development of fuel ammonia carriers that can be used for domestic thermal power plants and receiving terminals.
Furthermore, the firms will work together to create a system for transporting and receiving fuel ammonia.
Other areas include the implementation and operation of ammonia-fuelled propulsion systems for vessels, as well as working with related parties to frame rules for the reception of fuel ammonia.
21 November | Acquisitions
Stonepeak and Spirit Super to acquire GeelongPort, Australia
A consortium of investment firm Stonepeak and industry super fund Spirit Super has signed a definitive agreement to buy 100% of Geelongport, the second largest port of Victoria, Australia.
GeelongPort is located around 75km south-west of Melbourne and within Geelong, the largest regional city of Victoria.
According to the terms of the deal, Stonepeak will hold a 70% interest in the port on behalf of its managed funds and accounts, while Spirit Super will own a 30% stake.
A diversified port, GeelongPort has been considered a major driver of Victoria’s economy for more than 150 years, handling upwards of A$7bn of trade and supporting over 1,800 jobs across the state.
Besides having access to logistics routes for trade through road, rail and air, GeelongPort has channel connections to Geelong and south-west Victoria’s supply chains.
Stonepeak and Spirit Super’s long-term investment will support GeelongPort in its continued efforts to expand relationships with important business partners.
The port consists of 15 berths over two primary precincts, Corio Quay and Lascelles Wharf. It offers land, infrastructure and services to facilitate trade for businesses in Victoria.
17 November | Business & Operations
Maersk forms green methanol alliance with Carbon Sink
Danish shipping company Maersk has reached a strategic collaboration with US-based project developer Carbon Sink to speed up the production of green marine fuels.
Under the agreement, Carbon Sink will build green methanol production facilities in the US.
With an annual production capacity of around 100,000 tons, the first plant will be co-located with an existing Red River Energy bioethanol facility in Rosholt, South Dakota, US.
This South Dakota facility is expected to begin commercial operations in 2027.
Maersk plans to buy the facility’s entire volume, while also having options for the output from subsequent Carbon Sink plants at other sites.
Carbon Sink will produce green methanol using commercially available technology. It will combine green hydrogen from the electrolysis of water using additional renewable electricity and biogenic CO₂.
15 november | Acquisitions
Adani Ports and Gadot to buy Haifa Port in Israel
India-based Adani Ports and Special Economic Zone (APSEZ) and Gadot Chemical Terminals have formed a new joint venture (JV) company in Israel.
The new JV, dubbed Mediterranean International Ports, has been established for the acquisition of Haifa Port Company.
In July, APSEZ and Gadot won a bid to take over the Port of Haifa with a concession period of up to 2054.
Following an offer of around $1.18bn, the partnership secured the rights to acquire 100% equity in HPC.
Adani will own a 70% stake in the port, while the remaining 30% interest will be held by Gadot.
Located in the north of Israel, Haifa Port is about 90km away from the city of Tel Aviv.
The port currently has two container terminals, as well as two multi-cargo terminals.
11 November | Projects
FURETANK AND ALGOMA INVEST IN DUAL-FUEL PRODUCT TANKERS
Sweden-based Furetank and Canada’s Algoma Central have expanded their FureBear product tanker joint venture (JV) with the addition of a further four dual-fuel vessels.
Two of the new vessels were already ordered in September for supply to FureBear. The other two have now been ordered and are expected to be delivered in 2025.
The JV, in which each of the entities have a 50% stake, was established in August.
With the latest investment, the total number of product tankers under the JV stands at eight.
These climate-friendly Vinga series product tankers will be used for trade activities in Northern Europe.
Similar to the earlier four ships, the new vessels will also be built at China Merchants Jinling Shipyard in Yangzhou. This takes the Vinga series count to 17 vessels so far.
Once completed, the new vessels will be included in the Gothia Tanker Alliance. Furetank will operate the vessels from Gothenburg, Sweden.
8 November | Workforce
UK AND US COMMIT TO GREEN SHIPPING CORRIDORS
The UK and the US have agreed to set up green shipping corridors between the two countries at this year’s COP27 conference in Sharm el Sheikh, Egypt.
These green maritime links are specific routes decarbonised from end to end, including both land-side infrastructure and vessels.
Setting up such shipping routes involves using zero-emission fuels, implementing refuelling or recharging infrastructure at ports, and deploying zero-emission capable vessels for more environmentally-friendly shipping.
The two countries have agreed to launch a special Green Shipping Corridor Task Force to bring together experts in the sector, encourage vital research and development, and drive other important work and projects to see these initiatives come to life as quickly as possible.
In brief
ABB to provide shaft generator systems for Cosco boxships
Technology company ABB has received an order to supply its permanent magnet shaft generator systems for containerships of China-based Cosco Shipping Heavy Industry (Yangzhou). Under the contract, ten Cosco boxships will be installed with the ABB technology.
CLI concludes terminal acquisition from Rumo in Brazil
Corredor Logistica e Infraestrutura has closed the acquisition of an 80% stake in Elevações Portuárias (EPSA) from railway operator Rumo for around R$1.4bn ($260m). EPSA operates the T16 and T19 terminals at the Port of Santos (SP), Brazil.
DP World equips Chile terminal with renewable energy-powered cranes
UAE-based logistics solutions provider DP World has installed two renewable energy-powered cranes at its Lirquén terminal in Chile. The two new Super Post Panamax cranes are expected to improve the port’s productivity by 30% and lower its operational carbon footprint by 11%.
Konecranes to supply ARMG cranes to London Gateway Terminal
Finnish company Konecranes has received a contract for the delivery of a complete automated container handling solution to the London Gateway Terminal, which is operated by DP World. Under the contract, the company will supply a fleet of 18 automated rail-mounted gantry (ARMG) cranes to London Gateway.
UK’s Immingham port to get new CO₂ import terminal
Harbour Energy has reached an exclusive commercial relationship with Associated British Ports for the development of a CO₂ import terminal at the Port of Immingham.
11 November | Fuels
Furetank and Algoma invest in dual-fuel product tankers
Sweden-based Furetank and Canada’s Algoma Central have expanded their FureBear product tanker joint venture (JV) with the addition of a further four dual-fuel vessels.
Two of the new vessels were already ordered in September for supply to FureBear. The other two have now been ordered and are expected to be delivered in 2025.
The JV, in which each of the entities have a 50% stake, was established in August.
With the latest investment, the total number of product tankers under the JV stands at eight.
These climate-friendly Vinga series product tankers will be used for trade activities in Northern Europe.
Similar to the earlier four ships, the new vessels will also be built at China Merchants Jinling Shipyard in Yangzhou. This takes the Vinga series count to 17 vessels so far.
Once completed, the new vessels will be included in the Gothia Tanker Alliance. Furetank will operate the vessels from Gothenburg, Sweden.
8 November | Regulations
UK and US commit to green shipping corridors
The UK and the US have agreed to set up green shipping corridors between the two countries at this year’s COP27 conference in Sharm el Sheikh, Egypt.
These green maritime links are specific routes decarbonised from end to end, including both land-side infrastructure and vessels.
Setting up such shipping routes involves using zero-emission fuels, implementing refuelling or recharging infrastructure at ports, and deploying zero-emission capable vessels for more environmentally-friendly shipping.
The two countries have agreed to launch a special Green Shipping Corridor Task Force to bring together experts in the sector, encourage vital research and development, and drive other important work and projects to see these initiatives come to life as quickly as possible.
