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Why Wind Propulsion Is An Important Piece In Shipping’S Compliance Puzzle
Splash247
Why Wind Propulsion Is An Important Piece In Shipping’S Compliance PuzzleSuba Sivandran, director of strategy, M&A and advanced services at Bureau Veritas Marine & Offshore, gives readers an idea of the savings that are possible by installing wind tech on ships trading in Europe.  The International Maritime Organization (IMO) has finalised new measures that should provide a framework to decarbonise shipping. This is a pivotal moment as the sector needs to transition from fossil fuels to cleaner alternative fuels and innovative technologies, such as wind propulsion systems (WPS). Against this backdrop, recent regional regulations – like the EU’s Emission Trading System (ETS) and FuelEU Maritime (FEUM) – have already started to influence the investment and operational strategies of shipowners and operators. These regulations are encouraging owners and operators to adapt their operations to enhance efficiency whilst engaging with developing clean technologies, paving the way for a more sustainable future in maritime transport. With the development of alternative fuels in its nascent stages, wind propulsion has emerged as a competitive long-term solution for reducing the operating costs of vessels, particularly for those trading within the EU. As part of the newly introduced FuelEU Maritime regulation, vessels using wind propulsion technologies benefit from the framework’s wind rewards factor (WRF), a mechanism designed to incentivize the adoption of wind propulsion technologies. WRF offers up to a 5% reduction on the GHG calculation of energy used onboard for those vessels where wind propulsion accounts for 15% or more of the propulsive power used onboard. Furthermore, WPS also contributes to improving a ship’s Energy Efficiency Design Index (EEDI), Energy Efficiency Existing Ship Index (EEXI), and Carbon Intensity Indicator (CII) ratings. This aligns perfectly with the industry’s imperative to decarbonize. The adoption of WPS technology is clearly developing at pace. As of February 2025, more than 125 of these systems have been installed on over 57 ships, in addition to 17 already prepared for potential installation. In fact, a recent study suggested that over 1,600 ships will be ordered by 2030, and by 2050, it is estimated that 30% of the entire global fleet will have engaged with wind propulsion technology. Many of these will be classed by Bureau Veritas. As an accredited verifier of alternative fuels as well as pooling compliance under FEUM, Bureau Veritas Marine & Offshore (BV) has recently developed a suite of tools to model the impact of EU and IMO regulations on shipping. This modelling demonstrates that vessels trading at least partially in the EU can achieve substantial savings by engaging with WPS technology. For example, an ultramax vessel trading internationally with the EU could see nearly a 20% reduction in operating costs from 2025-2040 if it uses wind assistance, compared to a reference vessel running on Very Low Sulphur Fuel Oil (VLSFOe). The operating cost benefits remain evident even when accounting for the initial CAPEX implications of installing WPS technology. Wind-assisted vessels, combined with a small biofuel mix, could see further reductions in operational costs in the period from 2035-2040. Wind assistance proves to be equally or even more competitive in the long term compared to biofuels. BV’s analysis indicates that by 2030, the operating costs for an ultramax vessel using 3% biofuel and one utilising wind assistance would be nearly identical, even after factoring in the additional capex of wind assistance (amortised over 15 years). Both strategies could reduce operating costs by approximately 12% compared to a reference vessel running on VLSFOe.  Looking toward 2040, a vessel using 10% biofuel would cut its operating costs by 54%. Conversely, a vessel with wind assistance and 3% biofuel to comply with FEUM regulations could reduce its operating costs by over 60%. These figures illustrate wind propulsion as a key component in the future of sustainable maritime transport. By engaging with WPS technologies, vessels can effectively reduce their fuel consumption and emissions, assisting them in meeting stricter emission standards while contributing to the EU’s goal of carbon neutrality by 2050. BV’s recent modelling study underscores the critical role of WPS technology in navigating the evolving regulatory landscape. Wind propulsion represents a competitive long-term solution for minimising vessel operating costs whilst supporting regulatory compliance.
port-and-ship
Apr 17, 2025
Take Your Pick From 400 Opportunities Over At Splash Jobs
Splash247
Take Your Pick From 400 Opportunities Over At Splash JobsContemplating a career change as much of the world goes into a long weekend? Splash Jobs has close to 400 positions open in more than 25 countries catering to a very diverse set of skill sets. Writing for Splash recently, Mark Charman, who heads up Faststream Recruitment, discussed the future of maritime talent, something he sees as being increasingly a blended workforce. “As AI adoption accelerates, maritime C-suite executives and HR leaders must rethink their workforce strategies,” Charman wrote. The most successful maritime organisations, according to Charman, will be those that invest in upskilling and reskilling; equip employees with the digital literacy and problem-solving skills needed to work alongside AI; prioritise soft skills like adaptability, collaboration, and strategic thinking alongside technical knowledge; as well as balancing automation with human expertise. See what career possibilities await over at Splash Jobs by clicking here.
port-and-ship
Apr 17, 2025
54 Ships Abandoned So Far This Year
Splash247
54 Ships Abandoned So Far This YearThe scourge of crew abandonment is proving very hard for global administrators to rein in. A total of 54 ships and their crews have been abandoned so far this year, according to data carried by the International Labour Organization (ILO), putting 2025 potentially on track to be the second-highest toll for ships being ditched by their owners.  Cases of crew abandonment more than doubled last year from 2023’s record levels to set an alarming new high with experts linking the rise to the ongoing growth of the so-called shadow fleet.  According to data from the International Maritime Organization (IMO) there were 310 cases of crew abandonment registered last year, up 118% over 2023’s record total of 142.  Cases of seafarers being left to rot on abandoned vessels have picked up dramatically in the 2020s, first thanks to the covid pandemic, and latterly in step with the increasing size of the dark fleet.  Crew abandonment was discussed at the headquarters of the ILO where officials met to update the Maritime Labour Convention (MLC). Among the suite of MLC amendments agreed last week to improve the working and living conditions of seafarers onboard ships were provisions for seafarers to be designated as key workers; strengthened requirements to support seafarer repatriation; new mandatory measures to ensure that they have access to shore leave without needing a visa or special permit; and enhanced protections against bullying and harassment. Guidelines on how to deal with seafarer abandonment were adopted by a joint ILO and IMO tripartite working group in late 2022, although the continued rise in crew abandonment cases in the intervening years shows how intractable the problem is.  “The rising tide of seafarer abandonment must be stemmed. Shipping’s good deeds are overshadowed by this abuse. Fake flags, dark fleets, and turmoil create a breeding ground for exploitation. This should serve as a red flag for our entire industry, and we need a system overhaul to protect seafarers and to hold abusers to account,” Steven Jones, the founder of the Seafarers Happiness Index, told Splash last year.
port-and-ship
Apr 17, 2025
Bw Energy Sets Aside $107M To Boost Production From Brazilian Deepwater Field
Splash247
Bw Energy Sets Aside $107M To Boost Production From Brazilian Deepwater FieldOslo-listed BW Energy has made a final investment decision for the Golfinho Boost project, aiming to increase incremental oil production from 2027 by 3,000 barrels per day. According to the company, the project will also increase uptime and reduce operating expenses at the Golfinho field offshore Brazil. The project includes multiple measures aimed at boosting production efficiency and increasing recoverable reserves by approximately 12m barrels. The measures include upgrades to the subsea boosting system by replacing gas lift with electrical submersible pumps at the seabed, reopening of shut-in wells, umbilicals replacement, improved field logistics and FPSO capacity enhancements. The total investment budget is $107m.  “The planned low-risk enhancements to field assets and operations offer very attractive returns and are expected to help unlock material long-term value creation for the company and its stakeholders,” said Carl K. Arnet, CEO of BW Energy. The Golfinho field is in the Espírito Santo Basin, with water depths between 800 and 1,700m. BW Energy is the operator with 100% working interest in the Golfinho license following the August 2023 acquisition of the Golfinho and Camarupim clusters. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW Energy acquired and has operated since November 2023. The field has been producing since 2007.
port-and-ship
Apr 16, 2025
Japanese And Korean Yards With Investments In China On Edge
Splash247
Japanese And Korean Yards With Investments In China On EdgeWith Donald Trump widely tipped to pass judgement on extra fees for Chinese-linked tonnage calling at US ports in the next couple of days, another wrinkle has emerged that has not been widely discussed in Washington to date.  Trump’s tariff war against China late last week backtracked as his administration took on advice from the tech sector, who pointed out that global supply chains for the manufacturing of much tech, such as smartphones, inevitably involves some Chinese produced items. Consequently, Trump exempted smartphones, computers and some other electronic devices from reciprocal tariffs last weekend. Similarly, the Trump administration might have to make concessions when it passes judgement on Chinese tonnage calling at US ports, as many Japanese and Korean yards subcontract much of their construction to China these days.  Following an investigation into Chinese shipbuilding practices, and with the aim of resuscitating American shipyards, the US Trade Representative has recommended a triple-pronged set of potential fees for Chinese-linked vessels that could have amounted to as much as $3.5m per US port call, something that drew nearly 400 responses, mostly negative, when a public hearing was held last month. Trump is expected to make his ruling on the investigation before the end of this week.  Appearing in front of a Senate Finance Committee last week, US Trade Representative Jamieson Greer said his organisation had taken onboard the huge volume of complaints registered during a public hearing into proposals to charge companies with Chinese tonnage on their books extra for port calls in the US. “They’re not all going to be implemented. They’re not all going to be stacked,” Greer said last week. Like the tech pullback, Washington might be forced to make concessions as so many shipyard alternatives – such as Tsuneishi and Kawasaki Heavy in Japan and Samsung Heavy Industries in South Korea – have extensive production facilities in China.  American deliberations on charging more for Chinese-linked tonnage has already seen a shift in ship buying preferences over the past month, both for newbuilds and in the secondhand market.
port-and-ship
Apr 16, 2025
Vertom Seals 15-Year Deal For Newbuild Quartet
Splash247
Vertom Seals 15-Year Deal For Newbuild QuartetDutch shipping group Vertom and Norway’s Strand Shipping have landed a 15-year charter deal with aquaculture feeds producer Skretting for four diesel-electric newbuilds. The vessels that will be deployed for the import of raw materials have been designed to reduce the environmental footprint of Skretting’s supply chain. The newly designed units feature energy-efficient hulls and multi-fuel propulsion systems expected to reduce fuel consumption and emissions by about 30% compared to conventional vessels, Vertom said. The Rhoon-based outfit, which operates over 100 vessels ranging from 1,500 to 12,000 dwt, will own the newbuilds and oversee their construction, most of which are scheduled for completion in 2026. Strand Shipping will manage the vessels, which will be capable of running on biofuels and fitted with shore-power connections. Where feasible, wind-assisted propulsion will also be integrated in addition to several other decarbonisation measures aimed at enhancing overall environmental performance, Vertom noted. Last November, Vertom ordered four geared tweendeckers at Chowgule Shipyards in India for delivery in 2027 and 2028. The MPP newbuilds are set to be deployed on the Europe Caribbean Line (ECL) liner service, which connects Europe with the northern coast of South America and is operated in partnership with compatriot Vertraco Shipping.
port-and-ship
Apr 16, 2025
Dht Confirms Disposal Of Chinese-Built Tonnage
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Dht Confirms Disposal Of Chinese-Built TonnageDHT Holdings, a New York-listed tanker giant, has confirmed the sale of two Chinese-built VLCCs. DHT said in a statement that it sold the 2011-built DHT Lotus and the DHT Peony for a combined price of $103m. Splash has previously cited broking sources that claimed that the company sold the 320,000 dwt sister vessels built at Bohai Shipbuilding Heavy Industry in China. After repayment of existing debt on the vessels, amounting to $15.9m in aggregate, the transaction is expected to generate net cash proceeds of approximately $85m. The vessels are expected to be delivered to the new owner in April and July, respectively. According to DHT, the company expects to record gains of $17.5m and $15.5m in the second and third quarters, respectively. The vessels were acquired in 2017 as part of the acquisition of BW Group’s VLCC fleet for an aggregate price of $115.8m. “These two vessels have served us well over the past eight years. We have taken this opportunity to fine-tune our fleet profile, aligning our service offering with customer needs and market trends,” said Svein Moxnes Harfjeld, president and CEO of DHT. With the sale of the duo, DHT became the first VLCC owner known to have sold off all Chinese-built ships following US signals that Chinese-built tonnage could face pricey penalties when calling at American ports. The deal leaves the outfit with 21 Korean-built supertankers in the water and four VLCCs on order.
port-and-ship
Apr 15, 2025
‘Potentially Transformational’ Deal Hatched Between Employers And Seafarers
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‘Potentially Transformational’ Deal Hatched Between Employers And SeafarersThe International Labour Organisation’s Maritime Labour Convention (MLC) has been updated, following lengthy negotiations last week in Geneva. Under ILO’s Special Tripartite Committee on the MLC, governments, shipowners, and unions met last week to review and adopt crucial updates that reflect the evolving needs of seafarers and the maritime industry. Among the suite of amendments agreed to improve the working and living conditions of seafarers onboard ships were provisions for seafarers to be designated as key workers; strengthened requirements to support seafarer repatriation; new mandatory measures to ensure that they have access to shore leave without needing a visa or special permit; and enhanced protections against bullying and harassment. Helio Vicente, director of employment affairs at the International Chamber of Shipping, a shipowner lobby group, said the amendments were “potentially transformational”. Corinne Vargha, director of the International Labour Standards Department of the ILO, commented: “At a time when the spirit of multilateralism and the added value of tripartism are called into question, the STC demonstrated that tripartite dialogue and multilateralism work can deliver effective solutions to global challenges.” The new measures adopted are expected to be rubberstamped in Geneva, during the 113th Session of ILO’s International Labour Conference at the start of June, coming into force in December 2027.
port-and-ship
Apr 15, 2025
Diana Shipping Fixes Out Panamax To China Resource Chartering
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Diana Shipping Fixes Out Panamax To China Resource CharteringGreek bulker owner Diana Shipping has entered into a time charter contract with China Resource Chartering for one of its panamax vessels. The company hired the 2013-built, 77,901 dwt bulker Ismene. The gross charter rate is $11,000 per day, minus a 5% commission paid to third parties, for a period until a minimum of March 20, 2026, up to a maximum of May 20, 2026. The charter is expected to begin on April 26, 2025. The employment of the bulker is anticipated to generate approximately $3.54m of gross revenue for the minimum scheduled period of the time charter. Diana Shipping’s fleet consists of 37 dry bulk vessels – four newcastlemaxes, eight capesizes, four post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes. The company also expects to take delivery of two methanol dual-fuel newbuilding kamsarmax bulkers by the second half of 2027 and the first half of 2028, respectively. Currently, the combined carrying capacity of the fleet, excluding the two vessels not yet delivered, is approximately 4.1m dwt with a weighted average age of 11.46 years.
port-and-ship
Apr 15, 2025
China Merchants Completes Acquisition Of Qingdao Yangfan Shipbuilding
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China Merchants Completes Acquisition Of Qingdao Yangfan ShipbuildingState-run China Merchants has completed the acquisition of its seventh shipyard, Qingdao Yangfan Shipbuilding, in the northeast of the country. The yard, one of China’s oldest, has been rebranded CMI Qingdao Shipyard. The yard is best known for building large bulk carriers and containerships in its two drydocks. The shipyard can trace its roots to 1949. It filed for bankruptcy in 2016, and was then taken over by a local Qingdao company, before China Merchants moved for it in recent months.
port-and-ship
Apr 15, 2025