CSSC Science & Technology is going to acquire 50% stakes of joint venture, Shanghai TTS Huahai Ships Equipment, from TTS Marine AB.

Damen’s partner in Colombia, LINEAL Engineering, has opened a new office in Barranquilla on Colombia’s Caribbean coast.

China Merchants Energy Shipping (CMES) has placed an order for Silverstream’s air lubrication technology for four LNG carriers.

RINA has announced the Approval in Principle (AiP) for the first very large crude carrier (VLCC) from Shanghai Waigaoqiao Shipbuilding (SWS) for using an innovative propulsion arrangement that reduces of ship’s resistance by 5-10%.

Baker Hughes has secured a contract to supply carbon dioxide (CO2) compression equipment to Petronas Carigali’s offshore carbon capture and sequestration (CCS) project in Sarawak, Malaysia, said to be one of the world’s largest projects of its type.

LNG was the fuel of choice amongst owners ordering ships for operation on alternative fuels in 2022.

China Merchants Industry and an undisclosed European owner have entered into a contract for the construction of four 180,000 cu m LNG carriers plus four options.

Mainhaul rates both for reefer containers are easing but remain significantly higher than long-term averages.