Maritime venture builders Flagship Founders and Signal enter strategic partnership

Two of the leading maritime technology venture builders have announced a partnership to jointly develop new technology start-ups for the industry. Signal is taking a stake in the German venture studio Flagship Founders and will contribute data and APIs from its Signal Ocean platform to help accelerate new venture development. The partnership includes a total […]

HEMEXPO and DNV sign agreement covering energy-saving devices capability assessment

Hellenic Marine Equipment Manufacturers and Exporters – a leading suppliers and exporters association for the international shipping sector, has reached an agreement with the world’s leading classification society, DNV, for the assessment of energy-saving devices (ESDs) produced by HEMEXPO member companies. Under the terms of the agreement, in the first instance, DNV will review a […]

UK tax authority publishes draft legislation on reforms to tonnage tax regime

Commenting on draft legislation published for Finance Bill 2023-24, James Bailey, a corporate tax director at accountancy and business advisory firm BDO said: “As announced in the Spring budget, details of the inclusion of ship management activities within UK tonnage tax have now been released, along with the proposed increase to the limit on capital […]

Chemtanker owners seek fleet renewal as earnings ease from recent highs: MSI

An easing of chemical tanker earnings in Q2 has not discouraged owners tempted to place newbuilding orders. After a period of extremely strong vessel earnings and asset valuations, an unwinding of the support that created the earnings boom has seen spot and timecharter rates fall from their highs, though still remain at elevated levels. This […]

Four new methanol-ready vessels to be built to ABS Class for Algoma

Algoma Central Corporation (Algoma) has ordered two, methanol-ready, 37,000-DWT, ice class product tanker vessels to be built to ABS Class. This CAN$127m investment followed an order for two, new, 72,250-DWT, methanol-ready, Kamsarmax-based ocean belt self-unloading vessels that will also be built to ABS Class from Algoma. The new product tankers will be entered on long-term […]