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Infrastructure and procedures for handling captured carbon dioxide (CO2) at ports are currently inadequate Defining clear pathways to offload, utilise, and/ or sequester CO2, is crucial for large-scale commercialisation of onboard carbon capture and storage SINGAPORE, March 19, 2024 /PRNewswire/ -- A recent study commissioned by the Global Centre for Maritime Decarbonisation (GCMD), in collaboration with Lloyd's Register and ARUP, has identified low port readiness as a major hurdle bottlenecking the adoption of Onboard Carbon Capture and Storage (OCCS) system as a practicable decarbonisation solution. Whilst the technologies required for offloading onboard captured CO2 exist at high levels of maturity, safe operationalisation of captured CO2 transfer by trained personnel has not been demonstrated. The report, titled "Concept study to offload onboard captured CO₂," found that while a limited number of ports possess the infrastructure to offload liquefied CO2 (LCO2), they are primarily designed to handle food-grade CO2. The higher purity standards that accompany this use limits the interoperability of facilities to handle onboard captured CO2. The study examined over ten planned LCO2 related infrastructure projects worldwide. Located near, or with transport links from, CO2-emitting industrial clusters, these projects are likely to handle much larger volumes of captured CO2 than that from OCCS systems; port infrastructure needed for offloading, storing and transporting onboard captured CO2 will likely need to be integrated with these projects for economies of scale. However, as many of such projects remain in concept phase and have not reached Final Investment Decision (FID), ports have not proceeded with offloading infrastructure investments. This chicken-and-egg dilemma highlights the overall infancy of the carbon value chain. Furthermore, introducing LCO2 offloading into already complex port operations will likely impact port efficiency and operational performance. The need for additional buffer zones to address the safety concerns of LCO2 handling and storage will also add to existing space constraints at ports and terminals. About the study: Addressing the gap in the carbon capture value chain This 9-month long study aims to address a gap in the onboard carbon capture value chain. OCCS has recently gained traction as a potential interim solution to help international shipping meet IMO's emissions reduction targets, with potential deliberations at future Marine Environment Protection Committee (MEPC) sessions. While achieving emissions reductions through OCCS hinges on successfully integrating a shipboard-compatible system within space constraints, equally important is addressing the fate of captured CO2 by establishing its utilisation or sequestration pathways. This study complements GCMD's Project REMARCCABLE (Realising Maritime Carbon Capture to demonstrate the Ability to Lower Emissions) by addressing the feasibility of OCCS as a practicable, end-to-end solution at scale. For OCCS systems to be operationally feasible, the industry needs to develop a collaborative ecosystem to enable the value chain for managing captured CO2. By systematically considering the needs of the entire value chain, this study evaluated four concept configurations of offloading infrastructure from of a possible 162 scenarios, identified the operational standards and safety guidelines for handling LCO2, developed models for the quantification of costs for scaled-up infrastructure, articulated manpower competency frameworks for offloading operations, and analysed the potential regulatory scenarios needed to address the current uncertainties surrounding LCO2 offloading from OCCS. Concepts for safe offloading of LCO2 One of the key considerations is to examine how LCO2 can be offloaded safely to the appropriate infrastructure. The study determined that captured CO2 in its liquefied form is likely the most efficient and cost-effective option for onboard storage and transport. Based on this, the study shortlisted four concepts covering key offloading modalities, such as Ship-to-Ship and Ship-to-Shore, serving as building blocks that can be combined to cover a wider range of offloading concepts. In ranking the operability of these concepts, the study identified Ship-to-Ship and Ship-to-Shore transfers using an intermediate LCO2 receiving vessel as the most promising modalities for offloading at scale, with captured CO2 eventually sequestered or used as feedstock for manufacturing synthetic fuels. Ship-to-Terminal transfer of captured CO2 stored in ISO tank containers was identified to be more compatible at smaller scales and for end uses that require higher grades of CO2. This modality of transfer is also most compatible with existing port infrastructure and therefore easier to pilot today. Safety considerations handling LCO2 Handling LCO2 onboard presents a unique set of safety challenges not commonly encountered when handling fuels in shipping. The study offers an in-depth examination of hazards, such as asphyxiation and toxicity, if a leak or a loss of containment takes place. Unique to CO2 is evaluation of its storage at conditions near its triple point, where the gaseous, liquid and solid phases of CO2 co-exist. Storage at or near the triple point is sensitive to impurities, and minor changes in temperature and pressure can lead to a phase change from liquid to solid CO2, leading to hazardous situations, such as blockage in pipes and build-up of pressure. To address these hazards, a series of safety studies, including a Hazard Identification (HAZID) of offloading, Simultaneous Operations (SIMOPS) and a coarse Quantitative Risk Analysis (QRA), were conducted and mitigation measures and emergency response procedures articulated for handling LCO2. Professor Lynn Loo, CEO of GCMD, said, "While pilots have successfully demonstrated numerous capture technologies onboard ships, it is still uncertain how captured carbon on merchant ships can be safely offloaded, and what the rest of the value chain looks like. This study sheds light on these challenges, and highlights recommendations to holistically address these concerns for parties interested in advancing OCCS / LCO2 offloading concepts." Nick Brown, CEO of Lloyd's Register, said: "The maritime industry requires a comprehensive understanding of the safety and operational challenges posed by all emissions reduction technologies. This study, which focused on port readiness and considerations for the safe handling and offloading of LCO2, addresses some of the gaps that exist in the carbon capture value chain and will support industry stakeholders in making informed investment decisions around carbon capture solutions and the creation of regulatory and operational guidelines." Robert Cooke, Design Lead of Arup said, "As a result of the study, it has been promising to see how transferable existing CO2 industrial knowledge is to an offloading application. Arup brought together energy and maritime capabilities to outline the concepts for onboard captured CO2 offloading and develop how this new process can practically and safely integrate into busy port environments. We look forward to seeing the technologies and implementation develop into effective marine decarbonisation solutions." To access the full study findings, please download the report here. About the Global Centre for Maritime Decarbonisation The Global Centre for Maritime Decarbonisation (GCMD) was established as a non-profit organisation on 1 August 2021 with a mission to support the decarbonisation of the maritime industry by shaping standards, deploying solutions, financing projects, and fostering collaboration across sectors. Founded by six industry partners namely BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Seatrium (formerly Sembcorp Marine), GCMD also receives funding from the Maritime and Port Authority of Singapore (MPA) for qualifying research and development programmes and projects. To-date, over 100 centre- and project-level partners have joined GCMD, contributing funds, expertise and in-kind support to accelerate the deployment of scalable low-carbon technologies and lowering adoption barriers. Since its establishment, GCMD has launched four key initiatives to close technical and operational gaps in: deploying ammonia as a marine fuel, developing an assurance framework for drop-in green fuels, unlocking the carbon value chain through shipboard carbon capture and articulating the value chain of captured carbon dioxide as well as closing the data-financing gap to widen the adoption of energy efficiency technologies. GCMD is strategically located in Singapore, the world's largest bunkering hub and second largest container port. For more information, go to www.gcformd.org
SINGAPORE, March 13, 2024 /PRNewswire/ -- The 2024 Asia Pacific Maritime (APM 2024), a cornerstone event for the maritime sector, was held at Marina Bay Sands in Singapore from March 13-15. The gathering is recognized as the most influential maritime exhibition in the Asia-Pacific, drawing more than 1,500 exhibitors from 60 countries. Weichai was among the participants, challenging established marine engine brands with its latest innovations in marine propulsion and technological achievements. The presentation captured the attention of an international audience, especially stakeholders from the Asia-Pacific region. Weichai Unveils Revolutionary WH17 Marine Engine, Boosting the Asia-Pacific Maritime Sector On the morning of 13 March, Weichai made headlines at the Asia-Pacific Marine Engine New Products Conference when it introduced the next-generation WH17, a new high-end marine engine designed to redefine standards in marine propulsion. Tan Xuguang, Chairman of Weichai Group, showcased the engine, highlighting its innovative features and the potential for transforming the marine market. The event, attended by more than 100 influential figures from across the industry, including representatives from marine engine agencies and key customers, marked a significant moment for the Asia-Pacific maritime community. In a move that underscores Weichai's half-century legacy in Southeast Asia's maritime sector, Mr. Tan, the group's chairman, unveiled the WH17, a testament to the company's enduring commitment to quality, service, and brand excellence. Weichai's journey to innovate a new medium-speed marine engine, the WH17, reflects seven years of dedicated research and development. This latest addition has been rigorously tested with over 10,000 hours on the bench and more than 1 million hours at sea, ensuring its readiness to take on the demands of the modern maritime industry. The WH17 engine series boasts a versatile lineup, from the 6-cylinder model with 1,000 horsepower to the robust 16-cylinder variant delivering 3,200 horsepower, positioning Weichai alongside the world's elite marine power brands. At the conference, Weichai laid out four steadfast promises to its global clientele: To offer the most comprehensive range of marine power options. To provide unmatched versatility in applications and superior solution offerings. To lead in delivering reliable, fuel-efficient, and eco-friendly marine power. To ensure unparalleled professionalism, efficiency, and speed in marine power service delivery. The Weichai WH17 high-end marine engine showcases a suite of advanced engineering features, starting with its high-strength creeping iron body and a cylinder head, alongside a high-grade, reliable alloy steel crankshaft, and an ECU common rail system capable of achieving a fuel injection pressure of up to 2200bar. Key components are meticulously selected from leading international suppliers to ensure optimal performance and quality. The engine's proprietary ECU technology enables precise operational control, further improving fuel efficiency while reducing the environmental footprint. Weichai's strategic introduction of the WH17 aims to broaden its influence in the Asia-Pacific's competitive marine engine sector. The engine is designed to meet the diverse needs of a wide array of maritime vessels, ranging from inland and offshore transport ships to engineering and passenger vessels, fishing boats, and other specialized maritime crafts, reinforcing Weichai's market presence and leadership in the region's maritime sector. A full range of marine power products tailored to meet the diverse and customized needs of global customers High-end technology and intelligence are key trends that will shape the future growth trajectory of both the shipbuilding and shipping industries. Standing out as the sole worldwide supplier capable of delivering a comprehensive array of marine power solutions for medium- and high-speed engines, Weichai stood out at the exhibition with the showcase of the innovative WH17 marine power engine. Additionally, the exhibition spotlighted the WP2.5N silent generator set, a versatile solution suitable for a broad range of maritime applications, from transport and fishing vessels, to engineering ships and offshore platforms. Weichai's advanced technologies, including the electronically controlled high-pressure common rail system, double supercharging and silent sets, underscore the company's commitment to eco-friendly shipping and to the sector's transformation and modernization initiatives. Weichai has strategically adapted its marine power product offerings to align with the unique characteristics of the local ship market. These distinctive products have garnered significant interest among ship design institutes, shipyards, and shipowners, leading to numerous on-site negotiations for several projects. Central to Weichai's success is its advanced research and development (R&D) infrastructure, which stands as a global leader in marine power technology. The R&D system encompasses a full spectrum of engine capabilities, ranging from 34 to 13,600 hp, and is compatible with a diverse array of fuels, including light diesel, heavy oil, biodiesel, and natural gas. The breadth of offerings allows Weichai to offer customized energy solutions that cater to the specific requirements of their customers. All products have undergone comprehensive bench testing and rigorous market validation, achieving operational thresholds of 32,000 hours without the need for overhauls and offering fuel efficiency that surpasses international rivals by 5%, all while adhering to the strictest global emissions standards. Utilizing big data, Weichai has segmented the marine power market into over 60 categories, reflecting the unique characteristics of marine ship power. The segmentation allows for the creation of customized, high-end products and system solutions across all types of ships, meticulously designed to suit specific ship types, sea conditions, and operational environments. Expanding its footprint in the Southeast Asian market under the Road and Belt initiative The Southeast Asian marine engine market holds a pivotal position in Weichai's internationalization efforts, serving as a traditional stronghold for the company. Weichai's medium-speed marine engines are ranked among the top three globally in sales volume and secure the leading market share in the Asia-Pacific region. The remarkable performance is backed by the exceptional quality of its products and excellent after-sales service, which have earned widespread accolades from its valued customers. Weichai has integrated an engine preventive maintenance diagnostic system into its marine power products, facilitating proactive service reminders. The company's global network encompasses over 1,100 maintenance service centers, with strategically located parts warehouses in key Southeast Asian markets including Singapore, Indonesia, Malaysia, Vietnam, and the Philippines. This infrastructure ensures rapid response times, with services available within two hours and parts delivery guaranteed within 24 hours. Looking ahead, Weichai's strategy prioritizes the local market, enhancing its support to dealers, service providers, and regional partners. By capitalizing on the strengths of its products targeted at the Southeast Asian market, the company plans to establish a state-of-the-art sales and service support center, a modern spare parts inventory, and a training facility, reinforcing the company's dedication to service excellence and customer satisfaction. Additionally, Weichai is poised to increase its involvement in marine investments and shipbuilding projects not just in Singapore but across Southeast Asia. This strategic initiative is part of Weichai's effort to fast-track its growth in the region, significantly contributing to the successful implementation of the Belt and Road Initiative.
SINGAPORE, March 4, 2024 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a trailblazing global ocean technology company, is excited to announce a significant leap forward in its operational capabilities with the full commissioning stage of its pioneering wood drying ship. This innovative venture marks a significant milestone in the company's commitment to leveraging sustainable technologies and processes. After meticulous planning and procurement, Caravelle International Group has successfully acquired all necessary components for the assembly of state-of-the-art wood drying equipment. The company is poised to commence the assembly and commissioning process in one month, heralding a new era in shipping and wood processing. The project, costing $2.8 million for the remodeling of the ship, is not just an investment in equipment but a testament to Caravelle International Group's dedication to innovation and sustainability. Within a three-month timeline, the wood drying system will be fully operational, allowing the ship to enter service and revolutionize how wood is processed at sea. The wood drying ship utilizes a groundbreaking approach by harvesting free energy from the heat of the engine's exhaust. This not only makes the drying process highly efficient but also significantly reduces the environmental impact, aligning with the company's sustainability goals. The potential revenue increase from this venture is substantial, with projections of up to $16.8 million per ship per year from the wood drying operation alone, in addition to the regular freight revenue. The high margins from this process underscore its financial viability and its role in enhancing the company's profitability. This strategic initiative is set to dramatically improve Caravelle International Group's financial outlook, providing a buffer against the cyclical nature of the shipping industry. By diversifying its revenue streams and incorporating sustainable practices, the company is not only setting a new standard in the industry but also paving the way for a more profitable and environmentally responsible future. "We are thrilled to embark on this transformative project that stands at the intersection of innovation, sustainability, and profitability," said Dr. Guohua Zhang, Chief Executive Officer of Caravelle International Group. "This initiative is a testament to our commitment to pioneering solutions that not only benefit our bottom line but also contribute positively to the environment and the global economy. We are confident that the wood drying ship will mark a significant milestone in our journey towards a more sustainable and profitable future." About Caravelle International Group Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore. Forward Looking Statements This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Bahri Desalination Sets New Benchmark with Record-Breaking Floating Seawater Desalination Plant, in Line With its Efforts to Support Saudi Arabia's National Water Security RIYADH, Saudi Arabia, March 1, 2024 /PRNewswire/ -- Bahri Desalination, a specialized business unit of the National Shipping Company of Saudi Arabia (Bahri), the global shipping and logistics leader, has established a new milestone in seawater desalination production, reinforcing its position as the industry pioneer with the largest floating desalination plant ever built on a marine barge. Bahri Desalination Plant Wins Guinness World Record The achievement was celebrated at an event held at the Ministry of Environment, Water and Agriculture, where Guinness World Records officially recognized Bahri Desalination's innovative mobile seawater desalination plant as the largest of its kind. Measuring an impressive 123 meters in length, the mega floating plant boasts a daily output of 50,000 cubic meters. Bahri, in association with the Saline Water Conversion Corporation (SWCC) and Metito Saudi Limited, has built three such state-of-the-art desalination units installed on customized barges. Commenting on this achievement, Eng. Ahmed Alsubaey, CEO of Bahri, said: "We are honored to receive this distinction from Guinness World Records that validates our status as pioneers in engineering large-capacity, mobile seawater desalination solutions. As a leader in transportation and logistics, Bahri strives to develop innovative water projects that strengthen Saudi Arabia's infrastructure and self-sufficiency. This record reflects our cutting-edge work in deploying sizeable mobile floating desalination capacity where it is needed most along our coastlines." The record validates Bahri Desalination's status as an industry pioneer in building large-scale, cost-effective mobile seawater desalination plants that can be deployed to new coastal locations. Going forward, Bahri will continue driving progress through pioneering projects dedicated to the sustainable development of Saudi Arabia's maritime and water supply sectors.
SINGAPORE, Feb. 29, 2024 /PRNewswire/ -- Caravelle International Group (the "Company", Nasdaq: CACO), a trailblazing global ocean technology company, today announced its unaudited and unreviewed financial results for the six months ended April 30, 2023. Half year 2023 Financial Highlights Six Months Ended Year-over- April 30, April 30, Year % In millions, except percentages 2023 2022 Change Total revenues $ 45.10 $ 96.67 (53.35) % Gross margin 7.51 % 22.54 % (66.68) % Income from operation $ 1.36 $ 20.13 (93.24) % Net income $ 1.35 20.15 (93.30) % April 30, October 31, In millions 2023 2022 Cash, cash equivalents and restricted cash $ 9.62 $ 21.57 Mr. Guohua Zhang, Chief Executive Officer of Caravelle International Group, commented "During the six months ended April 31, 2023, the demand for global shipping was weak, which was coupled with a decrease in freight rates. However, we are optimistic about the Company's future. We recently closed a private placement on January 10, 2024 of up to $6.8 million. The Company plans to use part of these proceeds for capital expenditure to launch its CO-Tech wood drying vessels." Caravelle's first digital-intelligent wood drying vessel enters full commissioning phase, we expect this high-margin opportunity to more than offset any continued weakness in our shipping business." Added by Mr. Zhang. Six Months Ended April 30, 2023 Financial Results Total revenue was approximately $45.10 million for the six months ended April 30, 2023, a decrease of 53.35%, as compared to $96.67 for the same period of last fiscal year. The decrease in revenue was primarily attributable to decreased ocean freight prices and less voyage days completed during the six months ended April 30, 2023. Total cost of revenues was approximately $41.71 million for the six months ended April 30, 2023, compared with approximately $74.88 million during the same period of last fiscal year. Gross profit was approximately $3.39 million for the six months ended April 30, 2023, compared to approximately $21.79 million for the same period of last fiscal year. Gross margin as a percent of overall revenue was 7.51% for the six months ended April 30, 2023, compared with 22.54% in the same period of fiscal year 2022. The decrease in gross margin was mainly due to the lower ocean freight price. Total operating expenses increased by approximately $0.36 million, or 21.69%, from approximately $1.66 million for the six months ended April 31, 2022 to approximately $2.02 million for the six months ended April 31, 2023. The increase in Caravelle's operating expenses was primarily due to an increase in general and administrative expenses. Other Income (expenses), net primarily consists of interest expense and others. Other expense, net was $14,926 for the six months ended April 31, 2023, representing an increase of $35,201, as compared to other income of $20,275 for the same period of last fiscal year due to a decrease in other income for the six months ended April 31, 2023. Provision for Income Taxes was nil and $645 for the six months ended April 31, 2023 and 2022, respectively. Topsheen Shipping is eligible and participates under the Maritime Sector Incentive-Approved International Shipping Enterprise (MSI-AIS) award in Singapore. All qualified shipping income derived from the shipping activity in Topsheen Shipping is exempt from taxation for the duration of MSI-AIS approval. Net income was $1.35 million for the six months ended April 31, 2023, compared with $20.15 million for the same period of last fiscal year. The financial statements for the six months ended April 31, 2023 and 2022, herein the press release have not been audited or reviewed by the Company's independent registered accounting firm. The audited financial statements for the year ended October 31, 2023 to be disclosed in the Company's Form 20-F may have discrepancies with the above-mentioned unaudited and unreviewed financial statements. About Caravelle International Group Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore. Forward Looking Statements This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Themed Future of Vessels, Solutions for Tomorrow, Southeast Asia's premier trade exhibition and conference will host a series of new launches and strategic discussions across six halls at the Marina Bay Sands Expo & Convention Centre SINGAPORE, Feb. 29, 2024 /PRNewswire/ -- In just two weeks, the highly anticipated 18th edition of Asia Pacific Maritime (APM) is set to herald the largest gathering of the global maritime value chain in Southeast Asia. From 13 to 15 March 2024, over 1,400 global brands will be present at the conference and exhibition, spanning 17 pavilions across six expansive halls of Singapore's Marina Bay Sands. From closed-door networking sessions and delegation visits to product launches and business announcements, APM 2024 will serve as a platform for fostering tangible connections and sharing insights that will propel the maritime industry forward in today's landscape of transformative changes driven by technology, climate imperatives, and shifting geopolitical landscape. APM 2024 Conference Close to 120 industry experts from Singapore and across the world will share their insights and expertise in Sustainability, Digitalisation, Cybersecurity, Next Gen Ports and Operational Excellence across two stages on the floor. The Main Stage will focus on tackling growth and business potential in maritime, while the Innovation Stage will present case studies, leading innovations, and inspiring visions to help companies overcome challenges in business growth. At the heart of the APM conference will be a keynote panel discussion titled "A Net Zero Carbon Maritime Industry – Will We Ever Get There?" as the first session at the Main Stage on 13 March 2024. The panel will bring together some of the key leaders in the industry to discuss regulatory and policy frameworks and dissect the industry's trajectory towards carbon neutrality, examining challenges, opportunities, and the feasibility of achieving this ambitious goal. They include Andreea Miu, Head of Decarbonisation, The Sustainable Shipping Initiative; Douglas Raitt, Area Commercial Manager Singapore, Southeast Asia & Australasia, Lloyd's Register; Capt. Hari Subramaniam, Chairperson, The Nautical Institute (Singapore) & Regional Head of Business Relations, The Shipowners Mutual P&I Association (Luxembourg) (Singapore Branch); Jason Chia, Assistant Vice President, Global Design Centre, Seatrium; Kenneth Lim, Assistant Chief Executive (Industry & Transformation), Maritime & Port Authority of Singapore (MPA); Dr. Sanjay Kuttan, Chief Technology Officer, Global Centre for Maritime Decarbonisation; Torben Nørgaard, Chief Technology Officer – Energy & Fuels, Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping; Toshikazu Shiomi, Senior Vice President, Ocean Network Express. Kenneth Lim, Assistant Chief Executive (Industry & Transformation), Maritime and Port Authority of Singapore (MPA), commented, "Singapore, as a forward-looking maritime hub, has been at the forefront driving digitalisation and decarbonisation for the maritime industry. We look forward to meeting like-minded individuals and organisations from all over the world to discuss achieving net-zero emissions through technological innovations, alternative fuels, regulatory frameworks, and collaboration among industry stakeholders. MPA looks forward to contributing to the global efforts in transforming the maritime industry and combat climate change." "We must relentlessly continue our ambition to decarbonise in accordance with the 1.5°C target. A substantial increase in upstream investments in alternative fuels is critical for the maritime decarbonisation journey. I am looking forward to sitting down with other maritime leaders at APM 2024 to bring these discussions forward," said Torben Nørgaard, Chief Technology Officer – Energy & Fuels, Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. Sessions curated for the conference, which is sponsored by ABS WaveSight, Convera, DNV, Roxtec, Yinson GreenTech, ARI Simulation and Siemens Energy, include: Market Intelligence: Shipping Outlook for 2024 and Beyond – What Lies Ahead Is the Maritime Sector Struggling to Innovate? Developing a Future-Ready Maritime Workforce Green Shipping Corridors: Fostering Eco-Friendly Transportation Networks Rise of Green Ammonia: What is Needed to Make it a Success? Industry veteran Carmelita Hartoto, Chairwoman of the Indonesia Shipowners' Association (INSA) and Chair of Federation ASEAN Shipowner's Association (FASA), will be speaking on the opening day. Her session on "Indonesian Maritime Future Energy – Opportunities and Challenges" will focus on the industry's status, growth forecasts, and decarbonisation strategies while also exploring opportunities for collaboration to establish a green maritime plan involving electrification and green hub development. Other speakers attendees can look forward to seeing: Ashish Mediratta, Head of Crewing, A.P. Moller Maersk Dr. Chunwee Ng, Associate Professor, Singapore Institute of Technology Elizabeth Petit Gonzalez, Head of Partnerships, The Sustainable Shipping Initiative Jan-Viggo Johansen, Managing Director, Marine, Yinson GreenTech Murthy Pasumarthy, Assistant Vice President, Technology & New Product Development, Seatrium Norberto Barlocco, Head of Operations for Electrical, Automation & Digitalisation South West Europe, Siemens Energy Sanjay Verma, Director, Decarbonisation Solutions, Wärtsilä For the complete list of speakers, visit www.apmaritime.com Separately, the Satellite Mobility World seminar happening on the afternoon of 14 March at the Innovation Stage will delve into the latest advancements in maritime broadband communications. Titled "Unlocking The Future of Broadband at Sea: How Multi-Orbit Connectivity Is Propelling Maritime Forward", the sessions will be led by Speedcast, OneWeb, Intellian, Kymeta, Intelsat and Iridium. Attendees can expect discussions on cutting-edge technologies like Low-Earth Orbit (LEO) services, flat panel antennas and multi-orbit constellations shaping the future of maritime connectivity. Innovative Solutions at APM 2024 Exhibition As the maritime industry prepares for a significant surge in the adoption of technologies such as autonomous vessels, drones, additive manufacturing, smart coatings, artificial intelligence (AI), digital twins, hydrogen fuel cell, carbon capture, and more, APM will stand as a pivotal platform for the unveiling of such solutions to drive the industry forward. Attendees can expect to see 1,400 leading brands, including Amogy, CALB Group Co., Ltd, Damen Shipyard, Durapower, EST-Floattech, EVE Energy Storage Co., Ltd, Fincantieri, Siemens Energy, ST Engineering Ventures, Tersan Shipyard, VertiDrive and many more. Some of the key activities on-site will include: Nippon Paint (Stand B-M16) will launch two groundbreaking products that promise to redefine the maritime coating industry. AQUATERRAS, hailed as the world's first biocide-free self-polishing coating, offers exceptional long-term fouling protection while being environmentally friendly, thanks to its unique micro-domain structures. Complementing this is FASTAR, a new generation antifouling paint utilising nano-binder technology, delivering high performance while aiding emissions abatement and energy efficiency targets. Flyability will be showcasing the Elios 3 drone at their stand C-E42. Renowned for its safety and efficiency in inspection use, the Elios 3 will be demonstrated on its applications in maritime operations. Carmelita Hartoto will also lead a contingent of Indonesian shipowners to APM 2024. She shared, "In my role as Chairwoman of INSA and Chairperson on ASEAN Shipowners, my mission is to enhance national and regional shipping with international stakeholders. Indonesia's and ASEAN's shipping industry has been growing significantly in recent years, so there is no better time to present ourselves on the world stage to enhance global awareness of our capabilities and needs. For APM, I am looking forward to having our shipowners network and prospect with companies from all over the world and to learn from all the different stakeholders in the maritime sector." "After weathering the storm of the global pandemic, the resurgence of APM in its grandest form is a testament to the unwavering resilience and determination of our maritime community and the pivotal role of APM, which has been supporting the ecosystem for the last three decades. We look forward to welcoming participants from around the globe as we embark on this journey towards a more sustainable and prosperous maritime future," said Yeow Hui Leng, Group Project Director, RX, the organiser of APM. All registered professionals for APM 2024 will be granted free access to both exhibition and conference floors. For the latest information on APM 2024, please visit the event website, LinkedIn, or Facebook pages. About Asia Pacific Maritime (APM) Asia Pacific Maritime (APM) is the premier exhibition and conference in Asia showcasing Shipbuilding & Marine, Workboat, Offshore, Port Technology. It is the largest meeting place for the global maritime value chain where over 14,000 professionals in Asia including shipowners, shipyards, ship management, technical procurers and end-users will meet with 1,400+ solution providers showcase the latest solutions, services and technology that will drive maritime development in the new decade. With 17 editions (33 years) of proven track record, APM gives you 3 days of opportunities to connect with decision makers and sharpen industry understanding in Southeast Asia.www.apmaritime.com About RX Global RX is in the business of building businesses for individuals, communities and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products and complete transactions at over 400 events in 22 countries across 43 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com About RELX RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 33,000 people, of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation as at 3 August 2023: £48.7bn | €56.6bn | $62bn *Note: Current market capitalisation can be found at http://www.relx.com/investors
Maritime/Shipbuilding
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