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Concordia Maritime has published a new market update. GOTHENBURG, Sweden, Nov. 7, 2023 /PRNewswire/ -- The report is available at www.concordiamaritime.com. In addition to commentary from CEO Erik Lewenhaput, it also contains data and statistics regarding both tanker rates, ship values and the development of the global product tanker fleet, as well as data about the demand for oil and development of inventory levels. CONTACT: For more information, please contact:Erik LewenhauptCEO, Concordia Maritime AB+46 704-855 188erik.lewenhaupt@concordiamaritime.com The following files are available for download: https://mb.cision.com/Main/1948/3871145/2414005.pdf Concordia Maritime - Press release market update - 20231007 (PDF) https://news.cision.com/concordia-maritime/i/2023-market-update-nov,c3236511 2023 market update nov
SEOUL, South Korea, Nov. 6, 2023 /PRNewswire/ -- CyberLogitec, the leading provider of maritime, port/terminal, and logistics operations technologies and a subsidiary of EUSU Holdings, announced in Nov 2023 that SaaS-based OPUS D&D (Demurrage & Detention) had been implemented in Yusen Logistics. Yusen Logistics launched OPUS D&D service mainly in UK regions in April 2022, expanding the service to 19 countries, including the US, Europe, and China. Also, the expansion plan for the Southeast Asia region is scheduled. OPUS D&D has been introduced as per the needs of the independent system, which is capable of monitoring the Last Free Date before Free Time expiration and cost management in container DEM/DET. OPUS D&D provides the management in container DEM/DET (Demurrage/Detention) for 3PL company. Most 3PL companies need help with cost management since DEM/DET cost is manually calculated. Systemic management in DEM/DET is complex because DEM/DET is calculated based on the information of complex charging structure in each shipping liner and region-wise and holiday. Moreover, it requires separate management for exceptions as, in many cases, free time is calculated by applying its freight contract condition for each shipping liner and shipper. In collaboration with Yusen Logistics, one of the Top 20 3PL companies in the world, CyberLogitec developed and released OPUS D&D capable of interfacing with the 3PL Logistics system utilizing its own DEM/DET function, which is developed based on over 20 years of maritime business knowledge for container shipping. OPUS D&D provides container-wise Free time monitoring that interfaces with customers' legacy operation system, advance confirmation of charge effective date, and calculation and verification of DEM/DET cost. "OPUS D&D is a stable, scalable, and efficient independent cloud-based solution that offers an easy interface to the legacy system. DEM/DET cost, as per port pileup and disruption in the logistics network, DEM/DET cost has been a major issue for shipping liners and 3PL companies. We expect that many logistics companies, including Yusen Logistics' successful implementation of OPUS D&D, could meet the operating cost reduction and efficient DEM/DET management by OPUS D&D.", said Sung Jun Kim, Vice President of CyberLogitec. About CyberLogitec CyberLogitec empowers the global supply chain with innovative technologies that address operational challenges, improve visibility, and meet industry demands. As a worldwide leader in the maritime, port, and logistics industry, our flexible, end-to-end solutions and consulting services help the industry adapt quickly to the market's evolving needs. For more information, visit www.cyberlogitec.com
SEOUL, South Korea, Nov. 6, 2023 /PRNewswire/ -- Seadronix, a leading innovator in AI solutions for the maritime industry, has announced the launch of its cutting-edge real-time remote ship navigation assistance and monitoring service 'NAVISS Admin.' This marks a significant advancement in the tugboat industry, with DRS Shipping, one of Korea's largest tugboat operators with 45 years of experience, quick to embrace this revolutionary solution. Seadronix launched its real-time remote ship navigation assistance and monitoring service, 'NAVISS Admin,' in collaboration with the Korean tugboat operator, DRS Shipping. Seadronix's NAVISS (Ship Monitoring and Navigation System) represents a game-changing development for tugboat fleet operations. For the first time, AI-powered navigation assistance and monitoring are enhancing operational safety and efficiency while mitigating the risks associated with navigating congested port waters and towage operations. The NAVISS system comprises both onboard and onshore components, seamlessly connecting tugboat fleets to onshore operators. Onboard sensor modules provide a real-time 360° top-view video of the tugboat with AI-enabled maritime object detection capabilities, offering tugboat operators complete situational awareness during navigation and towage maneuvers. At the onshore control center, managers have access to real-time video data from multiple tugboats, enabling them to provide timely assistance when needed. Moreover, advanced tracking features offer data on tugboat navigation history, trajectory, potential oncoming risks, operation hours, and other vital statistics. This comprehensive operational overview helps tugboat operators optimize towage processes, reduce crew fatigue, lower carbon emissions, and ultimately enhance value for their customers. Seadronix CEO Byeolteo Park commented, "We are reshaping the port and shipping industry by extending our AI solutions not only to merchant ships but also to tugboats, which play a pivotal role in port operations. Our successful partnership with DRS Shipping implementing this remote monitoring solution signifies a significant milestone, ushering in an era of autonomous navigation solutions in the global maritime industry." DRS Shipping Vice President Seongchul Kim added: "Tugboats, given the inherent risks in their work, require intelligent solutions to enhance operational safety and reduce accidents. With Seadronix's AI solution, we have introduced innovation to the tugging industry, improving the safety of our workers. We expect that the adoption of AI smart solutions will modernize our tugboat and enable us to deliver superior services to our customers." Seadronix, a member company of Global Digital Innovation Network (formerly known as Born2Global Centre), unveiled its tugboat navigation and monitoring system, along with NAVISS Admin service, domestically at the Kormarine 2023 exhibition in Busan, Korea from October 24th to 27th. The global launch is scheduled to take place at the Europort 2023 Maritime Exhibition in Rotterdam, Netherlands, from November 7th to 10th.
SANYA, China, Nov. 3, 2023 /PRNewswire/ -- The 2023 Symposium on Global Maritime Cooperation and Ocean Governance (GMCOG) will take place in Sanya, Hainan, China from 8-9 November 2023. The event is co-hosted by the Huayang Center for Maritime Cooperation and Ocean Governance and the China Oceanic Development Foundation (CODF), and the National Institute for South China Sea Studies, China (NISCSS). Inaugurated in November 2020, the symposium aims to offer a unique platform for thought-provoking dialogues among the thinkers of various backgrounds from all over the world and promote academic research and exchange on maritime cooperation and ocean governance. It also seeks to raise the voice of the South China Sea coastal states in global governance and cooperation on ocean, offer South China Sea experience and solution to global ocean governance, restore confidence in global ocean governance and cooperation and align itself with the Sustainable Development Goal 14 of the United Nations (Conserve and sustainably use the oceans, seas and marine resources for sustainable development). The GMCOG has made its special contribution to sustainable development of oceans and seas throughout the years. The 2-day event is comprised of seven sessions, including Challenges to Global Ocean Governance and Maritime Cooperation among Great Powers, Mutual Confidence Building in the South China Sea from the Perspective of Global Security Initiative, Promoting Marine Spatial Planning to Boost the Blue Economy, International Law Based Order in the South China Sea, Goal 14 of UN 2030 Agenda and Sustainable Development of Marine Fisheries, BBNJ Agreement and Global Ocean Governance, and Global Climate Change and Polar Research. The GMCOG this year is expected to bring together participants from over 20 countries and regions, including eminent scholars from influential academic institutes, diplomats, officials from international organizations and government agencies in and beyond the region. Confirmed keynote speakers include Wang Yi, Member of the Political Bureau of the CPC Central Committee, and Minister of Foreign Affairs, China; Sun Weidong, Vice Minister of Foreign Affairs, China; Wang Hong, Vice Minister of Natural Resources and Administrator of State Oceanic Administration, China; Peter Thomson, UNSG's Special Envoy for the Ocean; Liu Zhenmin, Former Under Secretary-General of the United Nations and Stephen A. Orlins, President, National committee on U.S.-China Relations, the U.S..
NEW YORK, Nov. 1, 2023 /PRNewswire/ -- Peritus Capital is pleased to announce its role as Lead Arranger and Financial Advisor to Pacifico Aquaculture SAPI de CV (Pacifico) concerning its project financing agreement with Equilibrium Capital. Terms of the transaction were not disclosed. The funding will go toward constructing a state-of-the-art Recirculating Aquaculture System, expanding Pacifico's nursery and hatchery capacity for striped bass juveniles before insertion into grow-out pens located on Mexico's Pacific coast. Using RAS for juvenile production and increasing their size before ocean grow-out is a tested strategy among developed, at-scale farms. Its application can reduce fish mortalities from disease and predation, improve feed conversion, and enhance profitability and ocean sustainability. This transaction will mark the first commercial-scale RAS facility integrated into a striped bass farm, supporting Pacifico's tremendous growth plans. Pacifico Aquaculture SAPI de CV (Pacifico) is a portfolio company of Butterfly Equity, a food-focused private equity firm with over USD 4 billion in assets under management. Peter Tang, Chief Financial Officer and Managing Director at Butterfly Equity, commented: "We were very impressed with the Peritus team's professionalism and industry expertise on this complex, cross-border asset financing. This is a transformational investment that will allow Pacifico to significantly scale its production capacity to meet the robust market demand for sustainably raised striped bass." "We're very proud to have supported the wonderful teams at Pacifico, Equilibrium, and Butterfly Equity; the capital markets have been challenging, but Pacifico is a stellar company. We're delighted that Equilibrium sees its full potential," Peritus Capital CEO Howard Tang added. About Peritus CapitalPeritus Capital is a minority-owned and operated boutique investment firm that invests in, supports, and finances the global development of ROI-generating, early-stage and established companies that integrate Environmental, Social, and Governance (ESG) principles into their business models. Peritus Capital is a broker-dealer registered with the U.S. Securities and Exchange Commission and FINRA member. www.perituscap.com. Media ContactCourtney Boshcourtney@perituscap.com Business Dev/Investor ContactChing Ryanching@perituscap.com
SHANGHAI, Oct. 24, 2023 /PRNewswire/ -- DFRobot, a global leader in open-source hardware and advanced sensor technology, played a critical role in enhancing underwater data collection for the SAGA Underwater Habitat (UHAB). Developed by SAGA Space Architects, renowned pioneers in human-centric space environments, the UHAB is an exceptional underwater habitat that faithfully replicates a space mission and provides unparalleled research opportunities. Recently, SAGA successfully concluded a 48-hour mission with an aquanaut residing in the UHAB at a depth of 7 meters. The aquanaut has now safely returned to the Earth's surface. DFRobot's Gravity Sensors Enhance Data Collection in SAGA Underwater Habitat (UHAB) SAGA constructed the Underwater Habitat (UHAB) to simulate the challenging conditions of a space mission to provide an authentic space-like experience. It replicates the physical and psychological environment of water, addressing issues such as oxygen deprivation, isolation, pressure differentials, and confinement. To ensure the well-being of the aquanaut living in the UHAB, DFRobot's Gravity Sensors are used. These sensors, including CO2, CO, O2, air pressure, air quality, temperature, and humidity sensors, accurately measure environmental factors underwater. They enable scientists to monitor and analyze changes in the underwater environment with precision, maintaining a healthy atmosphere for the aquanaut. DFRobot's Gravity Sensors also seamlessly integrate with the UHAB's infrastructure, providing a user-friendly interface and robust compatibility. They can be easily deployed and monitored from the habitat's control center, enabling real-time adjustments and data interpretation. Scientists now have access to high-quality data without the need for laborious manual sampling, allowing them to focus on scientific analysis and gaining new insights. General Statement from SAGA"With DFRobot, SAGA was able to monitor sensors in the UHAB checking crucial factors such as temperature, pressure, humidity, CO2, O2 etc. These factors and sensors have had a huge impact on the building of the habitat itself while also ensuring the safety of Sebastian (one of SAGA's founders) staying in the habitat and contributing to extended research and experience about the climate of the habitat. For this reason, DFRobot has contributed to a big part of the habitat." "We are immensely proud to be part of the SAGA Underwater Habitat (UHAB) project. This venture aims to replicate the conditions of a space mission, offering invaluable insights for future space exploration by conducting research and living in an underwater habitat. Throughout the mission, SAGA has accumulated a wealth of invaluable data, including habitat performance and indoor climate information, as well as biometric data that unlocks remarkable possibilities for marine biology and oceanographic research. The societal impact of this endeavor is truly remarkable, and we are honored to have contributed to pushing the boundaries of human exploration and scientific discovery," stated Ricky Ye, CEO of DFRobot.
Maritime/Shipbuilding
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