Deep tech startup DRIFT Energy has announced it has entered into an exclusive strategic framework with Commenda Capital Partners to support the commercial deployment of at least 50 wind-powered hydrogen production vessels. In a statement issue yesterday (7 July), UK-based DRIFT Energy said the framework pairs its proprietary vessels, intellectual property and customer development with Commenda’s maritime finance, SPV structuring and project execution capability. The programme targets more than $500 million of project-level investment, expected to be financed through project-specific vehicles. Under the framework, Commenda has been mandated as DRIFT’s exclusive capital and project partner for the agreed programme scope. […]

Global engineering firm Ricardo has completed a feasibility study into the use of ammonia as a future fuel for the maritime sector. The study was undertaken as part of the FASTMOVE (Feasibility of Ammonia 4-STroke Marine engines in Offshore Vessels) project, which, as previously reported by ship.energy, was undertaken in partnership with Brunel University of London and the Port of Cromarty Firth. The consortium set out to understand how ammonia could support decarbonisation across the marine sector and to inform the design of a next-generation ammonia combustion engine. Drawing on Ricardo’s experience in combustion engineering and the maritime sector, the team developed the initial combustion […]

Addressing the IMO Council today (8 July), the IMO Secretary-General Arsenio Dominguez said that 136 vessels and a total of 2,900 seafarers had been able to leave the Strait of Hormuz as a result of the large-scale evacuation plan which was announced on 23 June but then suspended on 25 June following the Iranian attack on the Singapore-flagged Ever Lovely cargo ship. The IMO’s evacuation plan had been implemented in close cooperation with Iran, Oman, all other coastal States in the region, the United States and the maritime industry. Oman and the IMO had created a temporary maritime corridor which was […]