ABS Joins SOFC4Maritime Fuel Cell Development JDP
ABS has added its solid oxide fuel cell (SOFC) experience to an industry-leading joint development project (JDP) to accelerate development of the technology with Alfa Laval, DTU Energy, Haldor Topsoe, Svitzer and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.
Funded by a grant from Danish EUDP (Energy Technology Development and Demonstration Program), the partners will pursue a high-efficiency solution with the scalability to support marine industry decarbonization.
ABS, a founding member of the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, will focus on safety, utilizing its industry-leading New Technology Qualification service to assess the technology’s ability to perform intended functions in line with defined performance requirements.
U-Ming secures its First Sustainability-Linked Loan
U-Ming Marine Transport Corporation (“U-Ming”) (TSEC code: 2606), Taiwan’s largest publicly listed bulk carrier company, has secured its first Sustainability-Linked Loan (“SLL”) of USD45 million with E.SUN Commercial Bank, a testimony on its long-standing commitment and accountability on sustainability.
To secure the SSL, U-Ming underwent a rigorous due-diligence process that evaluated the company’s financial strength as well as ESG achievements. The SSL also incorporates an incentive scheme linked to pre-determined Environmental, Social and Governance (“ESG”) targets, where U-Ming will enjoy a discount on interest rates and save borrowing cost once these targets are achieved. The accomplishment of these targets will be verified by an independent third party.
Seven Islands Shipping Weighs Entry Into Gas And Container Shipping
Seven Islands Shipping Ltd (SISL) is weighing a potential entry into gas carriers and container ship segments, buoyed by the surge in freight rates.
SISL is India’s second biggest private oil tanker shipping company backed by Indian born Canadian businessman Prem Watsa-led Fairfax.
“Until now, SISL had only owned and operated tankers that transported liquid cargo. But, based on the current ship prices and charter rates, it sees potential for better growth from gas carrier and containers. They are in the process of assessing this opportunity in greater detail,” Prem Watsa, Chairman, Fairfax India Holdings Corporation, told shareholders in a March 5 letter.
Inspiration
She also cited the inspiration of pioneering Tayside woman Victoria Drummond, the UK’s first woman marine engineer.
“I started a cadetship with full sponsorship from Lloyds of London, now Maritime London, directly from sixth year at Webster’s High School,” said Fiona.
“My first trip was on the Teignbank, a general cargo vessel which traded on an 80-day trip round the world.
“I joined the vessel in Le Havre and sailed across to the Panama Canal, down to Tahiti.
“We had port calls in New Caledonia, New Zealand, Solomon Islands, various ports in Papua New Guinea, Singapore, Malaysia, and back to Europe via the Suez Canal.
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