Höegh Autoliners Shipping AS

UECC has emerged as a leader in regards to decarbonization, with an order earlier this year for its third LNG battery/hybrid Pure Car/Truck Carrier (PCTC). Glenn Edvandsen, CEO, discusses the strategy and the future for this Oslo-based ship owner.Glenn, to start, can you give a by-the-numbers overview of UECC?United European Car Carrier is a pan-European trading carrier, trading up to the Baltic, as far east as Turkey and down to north Africa. We operate about 18 vessels (of which) UECC-owns six, ranging from (a capacity of) 5,000 cars down to 1,000.

Japanese shipping giant Mitsui O.S.K. Lines (MOL) is working on a project for research and development of a sail (Delta Sail) that can be mounted on ships' cargo handling cranes and similar equipment to boost propulsion force.MOL's subsidiary MOL Drybulk, Oshima Shipbuilding, and Iknow Machinery are part of the R&D project which aims to reduce greenhouse gas (GHG) emissions from vessels while underway, by unfurling the sail placed on ship such as triangular parts of existing cargo handling cranes to use offshore winds to provide additional propulsion force.

The Baltic Exchange's main sea freight index snapped four sessions of gains on Tuesday due to lower rates in the capesize and panamax vessel segments.The index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, dropped 44 points, or 1.4%, to 3,166.The capesize index lost 106 points, or 2.7%, to 3,844, its lowest since July 22.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, fell by $875 to $31,880.

South African freight logistic firm Transnet said on Tuesday the force majeure communicated by its port terminals to customers would be "lifted soon" after progress was made in restoring its IT systems following a cyber attack.Transnet said terminals are berthing vessels as planned and are facilitating loading and discharge operations with the shipping lines."Some applications may continue to run slowly over the next few days, while monitoring continues. All operating systems will be brought back in a staggered manner, to minimize further risks and interruptions," Transnet said in a statement.

Law firm HFW said Tuesday it had advised Chinese shipbuilder Shanghai Shipyard on a UK Court of Appeal win relating to a US$170 million payment under a shipbuilding contract for an offshore drillship.The Court of Appeal overturned an April 2020 decision from the UK High Court that allowed the buyer of an offshore drillship – Reignwood International – to withhold a final payment installment that was due on delivery of the vessel, pending the outcome of arbitration proceedings.The Court of Appeal unanimously overturned a first instance decision in a preliminary issues trial concerning the proper characterization of a shipbuilding performance guarantee issued by Reignwood