Former SeaLead executives strike out on their own and enter the Red Sea market

According to shipping analysis firm Linerlytica, a new container shipping company headquartered in Singapore has entered the liner shipping market and launched a service connecting India, Pakistan and Egypt’s Red Sea coast. The company is led by several former executives of SeaLead, including former SeaLead Chief Commercial Officer Doreen Yeo.

Yangzijiang cashes in US$308 million with sale of six newbuildings

Ren Yuanlin’s Yangzijiang Maritime Development has recently signed shipbuilding sales contracts for six newbuildings.

+12 Vessels! Wallenius Wilhelmsen Advances PCTC Newbuilding Program

Wallenius Wilhelmsen is continuing to advance its large-scale fleet renewal program. The company announced that it has recently signed an agreement with China Merchants Jinling Shipyard to order 4+8 9,900 CEU next-generation car carriers. If all options are exercised, the company’s ongoing newbuilding program will increase to 26 vessels.

New Study: Competitiveness of Nuclear-Powered Ships in Doubt

A new research report released by University College London (UCL) on October 27 shows that nuclear-powered container ships could become economically competitive by 2040, but only if reactor costs fall sharply and global emissions regulation is effectively in place. The study, conducted by the UCL Shipping and Ocean Research Group, is titled *Nuclear Reactors for Merchant Shipping: A Total Cost of Ownership Assessment of a Low-Carbon Pathway*. It finds that without the International Maritime Organization’s (IMO) Net-Zero Framework (NZF), nuclear propulsion cannot compete economically with conventional shipping even under the most favorable reactor cost assumptions.

Veteran Internal Manager Takes the Helm! Paolo Moretti Appointed CEO of RINA

RINA’s newly elected Board of Directors has appointed current General Manager Paolo Moretti as Group Chief Executive Officer, succeeding Carlo Luzzatto, who has held the position since December 2023. The appointment means that this manager, who grew up in the naval engineering field and has worked at RINA for nearly 30 years, will be responsible for driving the classification society’s next stage of development.

Selling at the peak! Odfjell sells two chemical tankers

Transaction records show that Norwegian chemical tanker owner Odfjell has sold two 2011-built chemical tankers for more than $62 million as it continues to renew its fleet.

Singapore’s Seatrium secures over S$500 million order to complete construction of four Keppel drilling rigs

Recently, Singapore-based offshore engineering company Seatrium and RigCo, a subsidiary of Keppel, reached a project agreement worth more than S$500 million (about US$391 million) to complete the construction of four offshore drilling rigs. The two parties have issued a joint statement.