4Energy Invest

As a marine engineer focused on vessel design, I’ve watched the narrative on battery-electric and battery-hybrid vessels evolve from skepticism, to curiosity, to genuine acceptance in just a few short years. The passenger transportation sector, in particular, has been quick to embrace the concept of vessel electrification as a means of improving economics and reducing emissions. This makes sense as many ferry operations are excellent candidates for battery and hybrid-electric power due to their proximity to urban electrical grids, point-to-point operations and sensitivity to public perception.

Shipping company Teekay LNG has rebranded as Seapeak following the completion of its acquisition by U.S.-based investment firm Stonepeak.One of the world’s largest independent owners and operators of liquefied natural gas (LNG) carriers, Teekay LNG announced in October that it entered into a merger agreement that would see Stonepeak acquire all issued and outstanding common units representing limited partner units in Teekay LNG, and its common un it holders voted to approve the deal in December. All common units will convert into the right to receive $17.00 per common unit in cash, subject to deductions of applicable withholding tax.

Malaysian FPSO specialist and offshore support vessel owner Bumi Armada has decided to sell its icebreaking vessels operating in the Caspian Sea for Lukoil, in line with its plan to exit the offshore marine service business.Bumi Armada said Thursday its board of directors had agreed to sell subsidiaries owning Ice-class vessels operating in the Caspian Sea for $44.5 million in cash. The company plans to use $38 million of the proceeds from the sale to reduce debt, with the remaining $6.5 million going toward working capital.

Classification society ClassNK announced it has issued an approval in principle (AIP) for the design of an ammonia-fueled Panamax bulk carrier developed by Planning and Design Center for Greener Ships (GSC).Ammonia is expected to be used as decarbonized fuel for ships since it does not emit CO2 when burned, however, taking adequate safety measures are impartial due to its characteristics of being toxic to humans and corrosive against materials. While international standards for using ammonia as ship fuel are yet to be developed, ClassNK published its “Guidelines for Ships Using Alternative Fuels” in August 2021 to minimize the risks related to ammonia-fueled ships for the ships

Gary Vogel, chief executive officer of Eagle Bulk Shipping Inc., has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2022.The 2022 Commodore Award, given each year to a person in the international maritime industry who has contributed to the growth and development of the industry, will be presented on March 31, at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and expo, in Stamford, Conn..Vogel has served as CEO and director of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) since September, 2015.