Maritime Vessels Directory

Container shipping firm Hapag-Lloyd has secured long-term financing, in the amount of $4 billion, for 24 large container ships ordered in October 2024, with a combined capacity of 312,000 TEU.Around $900 million of the purchase price will be financed using the company’s own funds. A total of $500 million will be made available from two banks in the form of bilateral mortgage loans.Another part, in the amount of $1.8 billion, will be financed via three leasing structures, and $1.1 billion will be financed via a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure).

Maritime Coastal Border Security and the Role of USCG R&D

17 hours ago

The United States' maritime coastal security poses a significant challenge due to the vastness of its coastline and the complexity of its maritime borders. According to the National Oceanic and Atmospheric Administration National Geodetic Survey there are approximately 95,000 miles of coastline. According to the Department of Homeland Security 2007 Transportation Systems publication there are “361 ports, and 3.3 million square miles of Exclusive Economic Zone (EEZ) to secure”. The country's maritime borders present a formidable task for security agencies.

Rubio Pressures Panama over Chinese Businesses Near Canal

2 days ago

U.S. Secretary of State Marco Rubio on Sunday warned Panama's President Jose Raul Mulino that Washington will "take measures necessary" if Panama does not immediately take steps to end what President Donald Trump sees as China's influence and control over the Panama Canal.Mulino, after the talks with the top U.S. diplomat in Panama City, signaled he would review agreements involving China and Chinese businesses, and announced further cooperation with the U.S. on migration, but reiterated that his country's sovereignty over the world's second busiest waterway is not up for discussion.

$2.9B Maritime Development Fund Created by India

2 days ago

India is set to establish a 250-billion-rupee ($2.9 billion) maritime development fund to provide long-term financing for the country's shipbuilding and repair sector, Finance Minister Nirmala Sitharaman announced on Saturday.The initiative aligns with Prime Minister Narendra Modi’s vision of transforming India into a developed nation by 2047. As part of this effort, the government is investing heavily in infrastructure to enhance its manufacturing capabilities on a global scale.Presenting the budget for the fiscal year beginning April 1, Sitharaman revealed that the government will contribute 49% of the fund, with the remainder being raised from ports and private sector participation.

Shipbuilding RFP Issued to Build Hydrogen-Hybrid Research Vessel

3 days ago

UC San Diego’s Scripps Institution of Oceanography issued a request for proposals (RFP) to select a shipyard for the final design and construction of its new 163-ft. Coastal Class Research Vessel (CCRV), reportedly the first oceanographic research ship to primarily operate on renewable fuels.The vessel will feature a dual-powered hydrogen fuel cell and diesel-electric propulsion system, capable of conducting 75% of its missions using only liquid hydrogen. When running on hydrogen, CCRV will produce zero emissions and operate with minimal noise, ensuring contamination-free sampling and enhanced performance of its underwater acoustic sensors.

Maritime Reporter and Engineering News (December 2024)