Connect with us

Business

Wilhelmsen joins program by Rainmaking to drive decarbonisation in shipping

“Economic growth and increased global trade cannot happen at the expense of the environment or our future generations’ needs,” said the company.
Admin

Published

6 years ago

on

Wilhelmsen joins Rainmaking

Norway-based international maritime solutions company Wilhelmsen Ships Service on Wednesday (22 July) said it has partnered with Rainmaking’s program to drive decarbonisation in shipping.

The program is led by venture development firm Rainmaking and includes industry leaders such as Cargill, DNV GL, Hafnia, MC Shipping (a subsidiary of Mitsubishi Corp), Shell, and Vale. A second six-month cycle is set to commence in August 2020, it said. 

“Economic growth and increased global trade cannot happen at the expense of the environment or our future generations’ needs,” said the company.

“The coronavirus could be the ultimate acid test for how we want to do business when things are better and back to normal. 

“Irrespective of Covid-19’s lasting impact, humanity faces some of its biggest challenges. We have singled out three: Decarbonisation. Marine litter and pollution. Renewable energy.”

As the program progresses through end-2022, it will identify more than 3,000 high-impact tech startups around the world, fostering and catalysing a final shortlist of over 100 scalable pilot schemes and ventures. 

Each will seek a solution to the issue of carbon emissions in the shipping industry, with the ultimate goal of achieving industry-wide CO2-neutral status.

Scouting candidates for the first cycle of this program, Rainmaking initially identified 1,200 promising startups, with a cumulative funding of US$14 billion, based across 70 countries. 

“Working with corporate partners and curated startups, accelerating technology capabilities to help the maritime industry tackle the big issues embodies the open innovation principles that Wilhelmsen fosters,” said Nakul Malhotra, Vice President Open Innovation for Wilhelmsen.

Startups are setting out to reduce shipping’s carbon emissions in a broad variety of ways including: 

  • development of new or alternative energy sources
  • augmented reality (AR) solutions
  • AI and data enabled CO2 reduction
  •  increasing energy efficiency
  • automation, infrastructure and business model innovation
  • greater transparency in tracking of CO2 provenance and quantities
  • carbon offsetting; and improved vessel design

Related: Rainmaking selects startups to nurture towards decarbonisation of shipping


Photo credit: Wilhelmsen Ships Service
Published: 24 July, 2020

Related Topics:
Continue Reading

Biofuel

China: Chimbusco completes first bonded B24 bunkering operation in Shenzhen

Chimbusco Marine Bunker (Shenzhen) completed the operation after supplying 1,300 mt of B24 marine biofuel oil for “Xin Chi Wan” vessel, at Shekou Container Terminal.
Admin

Published

5 hours ago

on

July 8, 2026

By

China: Chimbusco completes first bonded B24 bunkering operation in Shenzhen

Zhuhai Chimbusco Petroleum Co Ltd (Chimbusco Zhuhai), a subsidiary of China Marine Bunker (PetroChina) (Chimbusco), on Monday (6 July) said the company completed its first bunkering operation since receiving its local licence in Shenzhen. 

Chimbusco Marine Bunker (Shenzhen) completed the operation after supplying 1,300 metric tonnes (mt) of B24 marine biofuel oil for the Xin Chi Wan vessel, owned by COSCO Shipping Group, at the Shekou Container Terminal in Shenzhen.

The operation adopted the “cross-customs direct supply bunkering” model with the cooperation of Shenzhen and Gongbei Customs and maritime authorities.

Looking ahead, Chimbusco Marine Bunker (Shenzhen) said it will build on its local licensing and policy advantages to expand its bonded marine fuel bunkering business in Shenzhen.

The company plans to optimise its bunkering processes and improve service quality to help strengthen the city’s bonded marine fuel supply capabilities while supporting the shipping industry’s green transition.

 

Photo credit: Zhuhai Chimbusco Petroleum
Published: 8 July, 2026

Continue Reading

Sanctions

US reinstates Iran oil sanctions, orders wind-down by 17 July

US has revoked a licence permitting the purchase of Iranian crude oil, petrochemical products and petroleum products, with the restrictions taking effect immediately.
Admin

Published

5 hours ago

on

July 8, 2026

By

Zbynek Burival on Unsplash

The US Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday (7 July) revoked a licence that had temporarily authorised transactions involving crude oil, petrochemical products and petroleum products of Iranian origin.

Under the new licence, the purchase of Iranian crude oil, petrochemical products and petroleum products is prohibited with immediate effect.

The latest licence replaces an authorisation issued on 22 June, which had been scheduled to remain in force until 21 August. The previous authorisation permitted the bunkering of vessels engaged in the approved transactions.

Parties that entered into contracts for Iranian oil during the period in which the authorisation was in effect have until 17 July to wind down Iran-related transactions.

 

Photo credit: Zbynek Burival on Unsplash
Published: 8 July, 2026

Continue Reading

Legal

Russian court orders marine fuel supplier Transbunker assets transferred to state

A Moscow court has reportedly ordered the transfer of assets belonging to Russian marine fuel supplier Transbunker to state ownership.
Admin

Published

5 hours ago

on

July 8, 2026

By

Egor Filin on Unsplash

A Moscow court has reportedly ordered the transfer of assets belonging to Russian marine fuel supplier Transbunker to state ownership.

This comes following a lawsuit alleging the company was illegally controlled through offshore corporate structures, according to The Moscow Times. 

The ruling grants the Russian Prosecutor General’s Office’s claims in full and takes immediate effect. Prosecutors argued that Transbunker, one of Russia’s largest marine fuel suppliers, was subject to restrictions on foreign ownership because the companies within the group qualify as strategic enterprises. 

The case targets Transbunker founders Iosif Sandler and Sergei Pugachev, both Cypriot citizens, along with Transbunker Management CEO Yelena Zavyalova. 

Prosecutors alleged the founders concealed control of the group through offshore entities in jurisdictions including Cyprus and the British Virgin Islands, while transferring profits abroad. Authorities claim RUB 19.3 billion (USD 247 million) has been moved out of Russia since 2020.

Founded in 1991, Transbunker has developed a nationwide marine fuel supply network serving Russian ports in the Baltic, Black Sea and Far East. The group owns fuel terminals in Novorossiysk, Vanino, Sakhalin and the Leningrad region, among other assets.

 

Photo credit: Egor Filin on Unsplash
Published: 8 July, 2026

Continue Reading

Trending