London retains its second position among world’s leading shipping centres
Baltic Exchange, in collaboration with Xinhua News Agency, proudly announces the release of the 2025 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report. This annual report, now in its 12th year, ranks the world’s leading shipping centres based on a comprehensive evaluation of port factors, professional business services, and the general environment.
For the 12th consecutive year, Singapore has been recognised as the world’s leading shipping centre, achieving a score of 99.50 out of 100. Singapore’s enduring success is attributed to its strategic location, robust international outlook, and a well-established ecosystem of professional maritime services.
London once again secured second position with a score of 81.02, demonstrating its continued prominence as a maritime support services powerhouse. Shanghai, with a score of 81.01, retained third place, highlighting its significant role as a major port city in Asia. London and Shanghai have maintained their positions within the Index for the past five years.
Hong Kong (80.77) and Dubai (75.97) rounded out the top five, emphasising the strength and importance of these key global shipping hubs. Rotterdam solidified its position as a European leader by maintaining its strong sixth place from 2024 to 2025.
Ningbo Zhoushan and Athens/Piraeus swapped positions this year, with Ningbo Zhoushan moving up to seventh and Athens/Piraeus settling in eighth, while Hamburg remains steady in ninth.
New York/New Jersey rounded out the top 10 owing to its strong cargo handling despite major disruptions and strikes, continued investment in port infrastructure, and its leading role as a global centre for shipping finance and maritime services.
Key findings of the 2025 ISCDI Report: – Top Performers: Singapore, London, and Shanghai continue to lead the rankings, underscoring their global leadership in shipping.
– China’s Shipping Centres on the Rise: Guangzhou, Qingdao and Tianjin all have improved their rankings, while Ningbo-Zhoushan climbed to seventh — marking its third consecutive year of upward movement. The strong showing reflects
– China’s sustained investment and growing global influence as a maritime powerhouse.
– Top 20 New Entrants: Los Angeles and Vancouver were new features to this year’s list, taking 19th and 20th position, marking two new North American ports in the global rankings.
The ISCDI Report evaluates a total of 43 maritime locations, considering various port metrics such as cargo throughput, crane count, container berth length, and port draught. It also assesses the presence of professional maritime support businesses, including shipbroking, ship management, ship financing, insurance, and legal services, alongside hull underwriting premiums. Additionally, the evaluation considers general business environment factors like customs tariffs, the level of electronic government services, and overall logistics performance.
Mr Mark Jackson, Chief Executive of Baltic Exchange, commented: “This year’s rankings reaffirm the crucial role of established maritime centres like Singapore, London, and Shanghai, alongside emerging hubs, in providing the infrastructure and expertise needed to keep supply chains efficient and reliable amid persistent geopolitical tensions and economic uncertainty. We congratulate all the leading shipping centres recognised in this report and remain committed to partnering with the global maritime community to ensure a sustainable and prosperous future for shipping.”
8 July 2025 First tranche of speakers announced for LISW25 Headline Conference Global leaders in maritime regulation, shipowning, finance and chartering will grace the stage of the International Maritime Organization (IMO) Plenary Hall on Wednesday September 17th as confirmed speakers at the London International Shipping Week 2025 (LISW25) headline conference.
Chaired by Michael Parker, member of the LISW25 Board of Advisors and Chairman of Global Shipping, Logistics & Offshore at Citi, the conference has as its theme ‘The management of paradox in global shipping’.
Arsenio Dominguez, Secretary-General of the IMO will give an opening keynote address while Nusrat Ghani MP, Deputy Speaker, House of Commons, will moderate the opening panel which will pose the question: Can shipping save globalisation? She will be joined by, among others, Nikolaus H. Schües, Immediate Past President, BIMCO and CEO and owner of Reederei F. Laeisz.
The second panel session: Does international regulation work in the contemporary geopolitical environment?, will be moderated by Richard Meade, Editor of Lloyd’s List and will feature, among others, Mikal Boe, Chairman & CEO, Core Power; Arsenio Dominguez, IMO General Secretary; and Katy Ware, Head of Regulatory Affairs at Zodiac Maritime.
In the third session: Where Chaos Meets Code: Thriving at the Intersection of Geopolitics and Innovation, to be moderated by Julian Bray, Editor-in-Chief of Tradewinds, Ben Palmer, President, Inmarsat Maritime and Chair of the LISW25 Technology & Innovation Working Group, will provide a thought piece from the findings of the Working Group challenging panelists, and delegates, to think about how they will prosper in an always on, data abundant, digitally-enabled, AI-led, application heavy-world. Confirmed speakers include Nick Brown, Chief Executive of Lloyd’s Register; Emanuele Grimaldi, Chairman of the International Chamber of Shipping; Paul Jennings, Managing Director of NorthStandard; and Karrie Trauth, EVP and Global Head of Shipping & Maritime at Shell.
IACS progress on safe decarbonisation and safe digital transformation highlighted at Council meeting in BeijingThe International Association of Classification Societies (IACS) Council met in Beijing last week (C91) to assess and advance the Association’s progress on the safe decarbonisation and digital transitions, on the further development of Common Structural Rules, and on the many joint initiatives currently underway with industry partners.
C91 also took the first steps towards integrating Environmental, Social and Governance (ESG) principles into IACS’ governance. The Council further agreed an internal framework of structured engagement with the International Quality Assessment Review Body (IQARB) to ensure IACS support for its objectives.
Three years after the launch of its Safe Decarbonisation Panel, the IACS Council welcomed the rapid progress made in developing technical guidance across a range of key technologies that support the introduction of new fuels and technologies on both new builds and the existing fleet. In line with IACS’s technology-neutral approach, IACS instruments now cover Ammonia, Methanol, Hydrogen, Batteries and Carbon Capture, while also working with flag States on matters such as Gas Dispersion Analysis and risk assessments for alternative fuels as required by the IGF code. The Council also welcomed IACS’ preliminary work in assessing its potential role in the introduction of nuclear technologies.
The more recently constituted Safe Digital Transformation Panel (Jan ’24) has been no less active and C91 welcomed the valuable work undertaken to clarify IACS’ role in digitalisation, cyber systems and marine autonomous surface ships, and in sharing these important conceptualisations with IMO at its FAL49 meeting earlier this year in support of its comprehensive digitalization strategy.
IACS Council also highlighted the development of IACS Resolutions on a diverse range of digital issues including cybersecurity controls for existing ships, vessel asset inventory for computer-based systems, classification of complex systems which utilize computer-based systems, a protocol on format definition and exchange of 3D model, risk assessment for MASS (Maritime Autonomous Surface Ships), and communications and remote connectivity for MASS.
ISU releases salvage industry statistics for 2024The International Salvage Union (ISU) has published its annual statistics for 2024, the only published measure of the state of the industry but do not include information from non-ISU members:Gross revenue for ISU members – US$ 406 million (2023, US$ 398 million)191 services provided (2023, 184 services)Lloyd’s Open Form (LOF) – 29 cases (2023, 16). LOF revenue US$ 118 million (2023, US$ 29 million)Wreck removal income – US$ 205 million from 40 services (2023, US$ 193 million from 30 services)All numbers are gross income from which all the contractors’ costs must be paid. Numbers are for income in the year received not the year when the service was provided and there can be an element of “time lag”.
The headline 2024 numbers show great consistency with the 2023 statistics and continue with the modest recovery from the low point of 2022. Emergency response services generated US$ 181 million split between LOF, US$ 118 million, and other contracts, $63 million.
Wreck removal income was US$ 205 million from 40 operations – very similar to the 2023 number of US$ 193 million. Wreck removal income is important for ISU members and these numbers maintain the division of the industry’s income at the typical levels of approximately 50:50 between emergency response and wreck removal income.
ISU President, John Witte, commented: “These numbers at least show that the industry has stabilised compared with the low point two years ago but they are still well below the higher numbers from a decade ago. Sustaining the salvage industry so that professional contractors are available to respond around the world remains a focus both for ISU but also for the insurance and ship owning communities.”
The 2024 ISU statistics show an increased number of LOF cases – 29 for ISU members – generating income of US$ 118 million. This is a notable increase on the previous year in which there were 16 LOF cases which had been the lowest level of LOF contracts for ISU members since the ISU started collecting statistics some 30 years ago.
LR launches Maritime Biodiversity Research Programme
Lloyd’s Register (LR) is pleased to introduce the launch of its Maritime Biodiversity Research Programme – a pioneering initiative dedicated to understanding and mitigating the environmental pressures of shipping on marine ecosystems.
LR’s inaugural publication, the Biodiversity report: Understanding science to engineer shipping solutions, offers a comprehensive, science-based overview of how shipping activities—from ballast water discharge to underwater noise and biofouling—impact biodiversity. It applies the Driver, Pressure, State, Impact and Response (DPSIR) framework to map the cause-effect relationships and outlines practical, evidence-based strategies for reducing ecological harm while supporting sustainable maritime operations.
This report and research programme is designed to support maritime stakeholders in navigating the evolving regulatory landscape, enhancing environmental compliance, and contributing to global biodiversity goals. It also highlights the financial, operational, and reputational benefits of proactive biodiversity stewardship.
Britannia P&I Club and HFW join forces to provide guidance on evolving maritime emissions regulations
Britannia P&I Club has worked with leading global law firm HFW to produce a series of articles highlighting the latest developments in maritime emissions regulations as the industry aims to transition towards a more sustainable future.
These articles will be critical to all shipowners and charterers as the focus on sustainability in the maritime industry continues to grow.
Britannia P&I, the world’s first P&I club, has been working with HFW to create comprehensive guidance documents covering CII, EEXI, EU ETS, and Fuel EU regulations.
The companies explained that with an increasing global focus on sustainability and the need to prepare for new regulations on emissions and environmental compliance, the maritime industry can expect further major changes relating to emissions regulations in the future. Britannia P&I added that its Members should understand and stay ahead of these changes by visiting the Club’s website, to learn more about the regulations and gain practical insights. The website also contains a glossary of terms and a timeline of currently known fuel regulations covering the next 20 years. These resources provide shipowners and charterers with clear regulatory overviews and practical compliance guidance.
Alessio Sbraga, Partner and shipping sustainability ambassador for HFW, said: “We are facing a period of major transformation for the maritime sector as it adapts to increasingly complex emissions regulations which directly influence the type of fuel used on board vessels. These regulations are impacting both the commercial activities and the underlying contractual arrangements of all the main stakeholders in the maritime value chain, so understanding how to comply with these far-reaching regulatory frameworks is a key consideration for maritime business.”
Dale Hammond, FD&D Director at Britannia P&I, said: “Understanding and responding to changing maritime fuel regulations is a major challenge facing our Members. This is why we have collaborated with HFW to provide comprehensive guidance and insights to help shipowners and operators navigate these complex and changing regulations”.
WFW advises Marla Investments on EuroHoldings majority share acquisition
Watson Farley & Williams (WFW) advised Marla Investments Inc. (Marla Investments) on its acquisition of the majority of issued and outstanding shares from certain shareholders of EuroHoldings Ltd (EuroHoldings), all of whom are associated with the Pittas family.
Marla Investments is a company affiliated with Greece’s Latsis family, who have had a leading presence in shipping for over 80 years. The deal represents its first foray into the US public markets.
The WFW New York Capital Markets, Corporate and M&A team that advised Marla Investments was led by Partner Steven Hollander, working closely with Partners Filana Silberberg and Will Vogel, Counsel Todd Johnson and Associate Charlene Minatee.
Steven commented: “We are pleased to have advised Marla Investments on this key acquisition. Our M&A, capital markets, Marshall Islands and New York experience allowed us to facilitate this important public company transaction successfully for our longstanding client.”
Uber Boats by Thames Clippers secures £59m financing for future expansion from NatWest and Santander
London river bus service provider Uber Boats by Thames Clippers has secured a £59 million funding package from NatWest and Santander to support ongoing investment into its fleet and drydocking facilities.
The funding, which consists of £29.5 million from NatWest and £29.5 million from Santander, will support the business’ investment plans over the next few years. They include plans for new vessels, an upgrade to the pier infrastructure and improvements to drydocking facilities. It is hoped the investment will support the wider transport network in London.
The facility will also help the business to expand services and increase the number of clean vessels that they employ on the Thames. Clean vessels are water ferries which are powered by electricity.
Thames Clippers was founded in 1999 with just one boat in operation. Since then, the water transport provider now operates 20 high-speed Thames river boats, with two further vessels in build, as well as an all-electric cross-river ferry, offering services from all major London piers every 10-20 minutes.
Passenger rates have been steadily climbing following the Covid pandemic. In 2022 rates were 7% higher than pre-Covid levels. And in 2023, passenger rates grew by an additional 10%. Last year more than 4milllion people travelled with Thames Clipper and bosses are expecting continued growth.
Liam Hather, CFO at Uber Boats by Thames Clippers, said: “It’s vital that we have funding partners who are proactive and can provide us with financial support that allows us to deliver on our plans. This latest agreement provided by NatWest and Santander will support our continued investment into our fleet so we can provide the water transport services which customers value and rely on.”
Lawrence House, Relationship Director at NatWest, said: “As the UK’s biggest bank for business, we are delighted to support Uber Boats by Thames Clippers who are a real UK Marine success story. They deliver a vital transport link to the capital, while being mindful of their carbon footprint, and also re-invest into the UK by ordering new vessels from Wight Shipyard on the Isle of Wight
BV launches AI-powered Augmented Surveyor 3D, for next-generation remote inspection
Bureau Veritas Marine & Offshore (BV) has launched the Augmented Surveyor 3D (AGS 3D), an advanced tool powered by artificial intelligence (AI) and machine learning, designed to optimize anomaly detection and localization for ship and offshore structure inspections.
BV earlier completed a successful “proof-of-concept” pilot with Total
Energies on a Floating Production Storage and offloading (FPSO) in West Africa. During the pilot, a drone-based inspection of two water ballast tanks was conducted. Using the AGS 3D to process all of the data, the survey generated a detailed 3D digital model with AI-enhanced corrosion analytics.
The AGS 3D solution promotes safety while improving efficiency by automating key tasks such as anomaly detection, corrosion mapping, and 3D modeling. Following the success of the pilot project, TotalEnergies will be looking to extend the solution to other assets.
Drone-based surveys generate vast amounts of data, including images, videos, and light detection and ranging (LiDAR) scans, the processing of which can be time-consuming and resource-intensive. By integrating AI technology, AGS 3D automatically detects anomalies in images and videos captured by drones, mapping them onto a 3D digital model created from point cloud data collected by a LiDAR sensor on the drone. This approach streamlines inspections, reduces human exposure to confined spaces, and provides precise defect localization, offering actionable insights for maintenance teams.
Suitable for use across various marine & offshore sectors, including FPSOs, FSOs, in-service ships, and floating offshore wind, the AGS 3D tool enables 360-degree visualization, optimized maintenance planning, data-driven decision-making, as well as providing a collaborative workspace for inspection teams, serving as a valuable complement to classification surveys. Final deliverables, such as LiDAR-based drone inspections, AI-driven corrosion detection, automatic defect localization, and a unified 3D dataset are reviewed by AGS experts to ensure quality.
Matthieu de Tugny, President of Bureau Veritas Marine & Offshore, said: “Precise localization of defects is critical for effective investigation, maintenance planning, and ongoing monitoring. With AGS 3D, we are now able to automatically detect and localize defects, marking a significant step forward in remote inspection technologies and augmented survey. This innovation further supports stakeholders in optimizing asset integrity management and inspection workflows.
Harry Theochari OBE receives Maritime Ambassador Award
Harry Theochari OBE, Chair of Maritime London and Senior Consultant of Norton Rose Fulbright LLP, has received the Maritime Ambassador Award, which recognises an outstanding individual who has distinguished themselves as an exemplary advocate for the maritime industry, at the Maritime UK 2025 Awards, held onboard DFDS Delft Seaways at the Port of Dover on 26 June.
This prestigious accolade celebrates a person who has demonstrated unwavering commitment, passion, and dedication to promoting and advancing the maritime sector. Maritime Ambassador award was sponsored by Expleo Group.
Harry Theochari commented: “I am greatly honoured to be awarded the MUK Ambassador Award 2025. From a personal perspective there is no more valuable recognition than that of one’s industry peers. These are the many friends and organisations with which I have had the pleasure of working for a great number of years towards achieving MUK’s collective goals and upon whose help and support I have been so reliant.”
Jos Standerwick, Chief Executive of Maritime London, said: “Harry’s passion and commitment to the UK maritime sector is evidenced every time he talks about the industry. For nearly two decades, in numerous roles, Harry has given so much time and put in so much effort in raising the profile of the sector within Whitehall and in wider society. I cannot think of a more worthy recipient of this award.” In addition, Carisbrooke Shipping Ltd, a member of Maritime London, has won the Technology & Innovation Award.”
Damian Adams awarded MBE for outstanding service to British business in Singapore
Watson Farley & Williams (WFW) is delighted to announce that London Corporate Partner Damian Adams has been appointed as a Member of the Most Excellent Order of the British Empire (MBE) in HM The King’s Birthday 2025 Honours List. This prestigious recognition is in honour of his significant contributions to the British Chamber of Commerce in Singapore.
Damian has dedicated over 20 years to the British Chamber of Commerce in Singapore, serving as a Board member and holding various key positions, including Chair of BritPack, Chair of the Energy & Utilities Business Group, Secretary, Chair of the Membership Committee and Vice-President (twice). His leadership and focus on governance, were instrumental during his tenure as President from 2022 to mid-2024. At WFW, Damian specialises in greenfield, early-stage and growth capital investment, M&A and other corporate transactions within the firm’s core sectors of maritime, energy and infrastructure. His clients include venture capital fund managers, private equity and infrastructure investors and family offices. Damian joined WFW in 1997 and spent over 24 years in Singapore, before returning to London in 2024. The British Chamber of Commerce in Singapore, established in 1954, is a vibrant business community that champions and supports UK business interests in Singapore. Since returning to London, Damian has continued to serve as a Board member and now acts as the Chamber’s UK representative, supporting businesses expanding into Singapore and Southeast Asia, as well as ASEAN businesses seeking to establish a presence in the UK.
WFW Managing Partner Lindsey Keeble commented “We are thrilled that Damian has been awarded an MBE for his services to British business interests in Singapore, where WFW opened its first Asian office in 1998. His commitment to Anglo-Singapore relations, corporate and commercial expertise and effective leadership are evident in all his endeavours. Huge and well-deserved congratulations from everyone at the firm.”
Maritime London is delighteded to welcome Silverstream Technologies into its Membership. Silverstream Technologies is a market-leading maritime clean technology company specialising in hull air lubrication for commercial shipping. The company is headquartered in London with offices in Southampton (Global Operations Centre) and Shanghai. The Silverstream® System reduces frictional resistance between the water and the hull surface, reducing net fuel consumption and associated emissions by an average of 5-10%. The system is unique in that it is the only proven air lubrication technology that can be retrofitted in 10 days or less, as well as being applicable to newbuilds. It lasts the lifetime of the ship, is complementary to and can be used in conjunction with other clean technologies. There are now more than 120 vessels in the water with the Silverstream® System installed.
Silverstream has successfully verified the savings that its technology creates through third-party assessment from organisations including Lloyd’s Register, HSVA and the University of Southampton. Its customers include MSC, Maersk, Grimaldi, Shell, Vale, Carnival and ADNOC L&S, amongst other major industry names.
Maritime London and British Embassy run successful event in Athens
A host of top-level speakers addressed the 8th Greek–British Shipping Forum 2025, held at the Piraeus Marine Club on June 25, coinciding with the Day of the Seafarer. The half-day event, followed by a networking lunch, was co-organised by Maritime London and the British Embassy in Athens.
Introductory welcome addresses were delivered by HM Ambassador Matthew Lodge and Greece’s Minister of Maritime Affairs and Insular Policy Vasilis Kikilias (pictured), who said: “We are happy to have you here…we are doing business together already and and we are having to be compatible. This is the role of the administration, to ensure that the framework is done in favour of this.”
Haralambos Fafalios, Chair of the London-based Greek Shipping Cooperation Committee, and George Alexandratos, President of the Hellenic Chamber of Shipping gave brief addresses, followed by a Tanker Market Outlook presentation, delivered by Henry Curra, Braemar’s Head of Global Research, which proved especially topical.
The first conference session explored how Greece and the UK can collaborate to ensure the next generation of seafarers are equipped to manage an increasingly complex operational environment, moderated by Capt Kostas Karavasilis, Regional Director, Loss Prevention, UK P&I Club. Panellists included Vicky Apostolopoulou, Head of Career, Employability and Alumni, Metropolitan College; Ajit Jacob, Director Seafarer Services, Chief Examiner, UK Maritime and Coastguard Agency; and Venetia Kallipolitou, Commander HCG (Rtd), Cross-Departmental HR and Training Manager, Tsakos Group. The panel talked about how the UK and Greece might work together better to get future sailors ready for more complicated operating needs. Some of the main topics were how to adapt training to digital tools, automation, and alternative fuels, as well as how important soft skills and quality sea time are. The speakers stressed the importance of working together on projects like knowledge exchange programs and aligning the curriculum to make sure that cadets graduate with both the technical abilities and the people skills needed for safe and sustainable.
Jos Standerwick said: “The Greek-British Shipping Forum has become a staple on the Greek shipping calendar in the Posidonia fallow year. The forum serves as a demonstration of the collaboration between the UK and Greek markets. It is always a pleasure working with the Embassy team in Greece, and we are already planning our Posidonia collaboration next year.”
Baltic Exchange introduces monthly audits for physical panellists to further improve Baltic index quality
Baltic Exchange has launched a new quality control mechanism to support its ongoing audit policies for its global portfolio of panellists across the dry, tanker and gas sectors.
The newly launched monthly audit, known as ‘Operational Benching’, is a process that enables the Baltic Exchange’s assessors to more effectively and proactively review physical panellists suitability to report on certain shipping routes and enhance the robustness, transparency and reliability of its industry-leading benchmark indices.
Operational Benching was implemented following an internal review by Baltic Exchange that identified that panellist submissions needed to be assessed more frequently to capture potential risks in panellists’ ability to meet key operational performance targets. These include ensuring that assessments are submitted within a defined reporting window, providing key evidence to validate their contributions, and conducting a statistical analysis of the assessments. This is known as the Quality of Market Assessments (QMA), which measures Lagging and Conformity to the index, as well as Independence, and how reliant a Panellist is on the previous day’s index.
As a result of the new Operational Benching process, panellists who fail to meet these KPIs may be temporarily “benched” for a month, or until a Senior Assessor at Baltic Exchange approves their reinstatement. The formal benching process remains confidential between Baltic Exchange and the panellist.
Rashad Issa (pictured), Quality & Business Improvement Lead at Baltic Exchange and the lead for the Operational Benching initiative, said, “Our benchmarks are only as strong as the data behind them. By introducing this new Operational Benching framework, we are holding ourselves and our panellists to the high standards we expect. We can act quickly when key performance targets are not met, while offering support and guidance to further improve the reliability and effectiveness of our indices. It is all part of our commitment to ensuring the Baltic’s indices remain the most trusted and reliable in the industry”.
Mark Jackson, CEO of Baltic Exchange, commented: “This is a very important step for the Baltic. Our partnership with our panellists is at the heart of everything we do. The Operational Benching process helps ensure that everyone contributing to our indices operates to the highest possible standards.”
ABS develops industry-leading EV battery fire simulation modelling
ABS has developed advanced simulation modeling of thermal runaway in Lithium-ion battery fires, in a critical step forward in tackling one of maritime’s biggest emergent safety risks.
The cutting-edge model, which has now been validated with Texas A&M University research, replicates the thermal runaway profile at the battery cell level, unlocking detailed insight into the total heat released and guiding the appropriate firefighting response. It is the latest development in ABS’ industry-leading work to address the significant safety challenge presented by transporting electric vehicles at sea.
“Runaway electric vehicle fires can reach temperatures of 1,200°F (650°C) or higher and present unprecedented safety challenges to the shipping industry, which connects manufactured vehicles to global markets. ABS is at the forefront of the industry’s response to this, which requires a blend of advanced technology, safety excellence and shipping insight. Developing the ability to accurately predict the behavior of these fires is a perfect example of this and will be a foundation of the ultimate solution,” said Christopher J. Wiernicki, ABS Chairman and CEO.
ABS offers both an enhanced fire protection notation EFP-C(EV) in the ABS Marine Vessel Rules, which provides criteria for additional fire protection arrangements in Ro-Ro cargo spaces intended to carry electric vehicles as well as the advisory Best Practices for the Transport of Electric Vehicles Advisory which includes additional advice. ABS is also funding advanced research with partners around the world, including at the Laboratory for Ocean Innovation, at Texas A&M University, where battery fire prevention and response is one of eight research priorities.
Inmarsat Maritime, a Viasat company, has announced that orders for NexusWave have exceeded1,000-vessels. Following months of rigorous development and testing, the service has gained incredible momentum in its first six months on the market with global customers adopting NexusWave for their fleets. This milestone underscores the global shipping industry’s strong appetite for a fully managed, high-speed, bonded connectivity service that combines the power of multiple networks with the convenience of a single provider.
Early adopters such as “K” Line, Anthony Veder, Mitsui O.S.K. Lines, Solvang, Sallaum Lines, Parlevliet & van der Plas Group and others are already reaping the benefits of transforming their vessels into floating offices and homes.
Inmarsat’s NexusWave brings together Global Xpress (GX) Ka-band, low-Earth orbit (LEO), coastal LTE, and resilient L-band services into a seamless, fully managed solution. Inmarsat’s unique ‘network-bonding’ technology is designed to allow connected applications to harness the aggregate speed and capacity of all available networks simultaneously rather than relying on one at a time.
Recent real-world tests have demonstrated NexusWave’s exceptional performance, achieving download speeds of up to 340 megabits per second (Mbps) and upload speeds of up to 80 Mbps. Network availability on vessels has consistently exceeded 99.9%, and video call quality has remained virtually unaffected by the availability or performance of any single network. Inmarsat’s solution dynamically adjusts traffic routing to maintain a seamless user experience, even in connectivity hotspots.
Users also benefit from unlimited data, global coverage, and secure-by-design infrastructure, providing complete ‘connected confidence’. For seafarers onboard it means they can enjoy a wide range of applications, including web browsing, streaming, gaming, video and voice calling, messaging, and social media access, providing a ‘home-like’ connectivity experience while at sea.
Ben Palmer, President, Inmarsat Maritime, said: “We are incredibly proud to have surpassed the 1,000-vessel mark for NexusWave orders. This achievement is testament to the vision and commitment of everyone involved in the development process. It also reveals a strong appetite among forward-thinking operators for connectivity that provides more than just high speeds and reliability.
UK Flag Forum held in London at Queen Elizabeth II Centre
Autonomous vessels and alternative fuels are among the key maritime topics being discussed by ship owners, operators and regulators at this year’s UK Flag Forum.
Hosted by the Maritime and Coastguard Agency at London’s Queen Elizabeth II Centre today (8 July), the event brings key figures from across the global shipping industry together to discuss the UK flag and strengthen its position as a world-leading flag state.
The UK Flag Forum is a platform for shipowners, operators, regulators and policymakers to share insight and discuss issues and opportunities, including seafarer training, decarbonisation and navigational safety.
The event was formally opened this morning by Virginia McVea (picured) CEO of the Maritime and Coastguard Agency (MCA). Lord Simon Stevens, Chair of the MCA, provided a welcome address before a panel discussion on the Department for Transport’s Maritime Decarbonisations Strategy.
Maritime Minister Mike Kane said: “I am thrilled to join the MCA at this year’s UK Flag Forum, which is so crucial in bringing key players in the sector together to discuss the issues facing the maritime industry. We are committed to the UK becoming a clean energy superpower, which is why earlier this year we set out a course to net zero shipping by 2050. Only by working together can we tackle the impact of shipping on our climate, create a greener sector, and deliver on our shared ambitions.”
London P&I Club reports another strong financial year as sustained positive performance brings greater levels of stability
The London P&I Club has today announced its financial results for 2024/25, reporting an operating surplus of US$21.3m, while also strengthening its free reserves to US$171.2m. Gross earned premium income increased 12% to reach US$159.8m.
The Club’s combined ratio for the period was 101.7%, which contributed to an improved three-year weighted average combined ratio of 103.9%. Meanwhile, the investment return on assets under management and cash was 6.3%, contributing US$24.7m to the operating result for the year.
This positive result reinforces the London Club’s planned approach to focus on the sustainability of its rating and deductible levels, alongside growth based on attracting quality shipowners from markets worldwide. While the Club was impacted by higher than expected Pool claims, particularly towards the end of the 2024 policy year, its strong 2024/25 results were another indication that its improved technical performance has continued to bring greater levels of stability and strengthened top line revenues.
This was further supported by S&P Global Ratings upgrading the Club’s outlook to Stable in December 2024 following a sustained period of improved operating performance that has strengthened the Club’s capital position.
James Bean (pictured), CEO of The London P&I Club, who took charge of the Club in November 2024, commented: “These most recent results are the clearest sign yet that the fundamentals of our business are strong and that we are well placed to fully meet the needs of our Members and Assureds, both now and in the future. Our strategic plans are delivering growth in tonnage, acknowledging the Association’s reputation for best-in-class personal service. Combined with a strengthening capital position, the London P&I Club is resuming its position as a leading independent mutual marine P&I insurer. We want to thank our Members, Assureds and Brokers around the world for their continued support and confidence.”
IMRF and Lloyd’s Register Foundation partner to lead a strategic review of global maritime search and rescue systems
The International Maritime Rescue Federation (IMRF), in partnership with Lloyd’s Register Foundation, has launched the first-ever Global Maritime Search and Rescue (SAR) Systems Review in order to understand, evaluate and help strengthen maritime SAR systems worldwide.
This strategic review will assess the current effectiveness of SAR capabilities at local, national, and international levels, identify emerging risks and critical gaps, and deliver long-term, evidence-based recommendations to ensure SAR systems remain resilient in an increasingly complex maritime environment.
The review will also identify key challenges and opportunities that could shape global maritime SAR systems over the next 10 to 20 years. It will examine the effects of climate change, geopolitical instability, and economic pressures. Additionally, the initiative aims to gain a deeper understanding of regional disparities in SAR capacity.
The assessment will include a wide range of stakeholders across the maritime SAR sector, including local and national SAR organisations, government entities, commercial shipping operators, artisanal fishing communities, academics, industry suppliers, and technological innovators. By collaborating with industry experts, the IMRF and Lloyd’s Register Foundation aim to help shape maritime SAR for decades to come.
“Those in distress on the water depend on timely and effective search and rescue responses from all involved in the global SAR system. This comprehensive global review of maritime SAR systems by the IMRF, with the vital support of Lloyd’s Register Foundation, will help to identify persistent gaps in capabilities, foster collaboration across borders, and lay the groundwork for a safer maritime future around the world,” said Caroline Jupe, CEO of the IMRF.
“Robust and effective maritime search and rescue capabilities and capacities are critical to global maritime safety and the protection of human life. We are pleased to once again partner with the IMRF to support their latest effort to empower SAR communities, organisations and decision makers to act decisively, collaboratively, and equitably, and keep more people safe at sea,” said Jan Przydatek, Director of Technologies at Lloyd’s Register Foundation
MLOCS Chair Tony Vlasto recognised in King’s Birthday Honours
Tony Vlasto, Chair of the Trustees of Maritime London Officer Cadet Scholarship (MLOCS) has been awarded the honour of the member of the Order of the British Empire (MBE) for services to Maritime Law, to the Royal National Lifeboat Institution and to Maritime Charities.
Tony Vlasto has chaired the MLOCS Board of Trustees since 2019. MLOCS is a charity which provides the funds to enable young people to undertake the three years of training required to become a Merchant Navy officer following a Deck (Navigation), Marine Engineer or Electro-Technical (ETO) professional pathway. To date, it has raised more than £3m in support of cadet training. The charity currently has 12 cadets in training.
MLOCS cadets additionally benefit from their involvement, through the sponsors and the MLOCS trustees, with a wide range of experience in the maritime services sector generally and so enhancing future job opportunities.
Jos Standerwick, Chief Executive of Maritime London and an MLOCS Trustee, said: “MLOCS is run on an entirely voluntary basis and Trustees must be willing to roll their sleeves up and get stuck in to ensure we can fulfil our charitable objectives. In this respect, our Chair truly leads from the front. Tony has had a transformative effect on the charity. His energy, diligence and empathy are unmatched. After a distinguished career as a maritime lawyer, his fundraising prowess for the RNLI and the endless time he commits to MLOCS, I struggle to think of a more deserving recipient of this honour.”
OSCAR Dragon Boat Race celebrates 10 years of impact
The OSCAR Dragon Boat Race is back for 2025, and this year marks a major milestone as we celebrate the event’s 10-year anniversary.
The Dragon Boat Race is an essential part of the maritime calendar, according to Maritime London CEO, Jos Standerwick. Every September,500 shipping people gather in London to network, have fun and raise money for seriously ill children.
“What’s amazing is that 50% of the teams who take part are principals, primarily shipowners,” says organiser Phil Parry. “We are hugely grateful to Union Maritime, Oldendorff, A.M. Nomikos, Lomar, CoolCo and Navigator Gas, all of whom come back every year. Similarly, Thomas Miller, Miller Insurance, Tysers, NorthStandard, The Baltic Exchange, Steamship Mutual and Britannia P&I all take part year on year and Taylor Maritime, Ashley Group Holdings and TMC Marine are now regulars.”
The 2025 event takes place on the Thursday of the week before London International Shipping Week, 11th September. “We’ve gone early to increase the chances of a sunny day,” says Spinnaker’s event organiser Bethanie-Taylor Grenfell. “Fingers crossed we will continue to be blessed with good weather as we always have.”
Registration is now open, and in a very short time, an incredible 16 teams have already signed up. This follows a record-breaking 2024 event, which saw 30 teams raise an astonishing £750,000 – the highest fundraising total in the event’s history. With that achievement, the OSCAR Dragon Boat Race has now raised over £2.5 million since its inception. “When you have a spectacular year like that, you always fear that you won’t be able to repeat it, but we are certainly going to give it a good try.” Says Phil Parry.
Last year’s fundraising champions, Union Maritime, led the way with a remarkable £500,000 raised, an outstanding contribution that set a new benchmark for generosity and impact. “We are enormously grateful, not only to Union Maritime, but to all of the brokers, suppliers, counterparties, law firms, insurers and others who donate to them and the other teams who take part,” says Parry. “And of course, special mention must go to Oldendorff who sponsor the bar every year.”
