The Panama Canal, a monumental engineering feat connecting the Atlantic and Pacific Oceans, faces a formidable adversary: drought. As climate change exacerbates water scarcity issues globally, the canal’s reliance on a stable water supply is under increasing threat.

The Role of Freshwater:

At the heart of the Panama Canal’s operations is Gatun Lake, a vast man-made reservoir that provides the freshwater necessary to operate the locks. Gatun Lake not only facilitates the elevation changes required for ship transits but also serves as a critical resource for the surrounding ecosystem and the millions of people who rely on it for their water supply.

Drought’s Impact:

Droughts in the region have become more frequent and severe, leading to a decrease in water levels within Gatun Lake. Lower water levels can hinder the canal’s ability to efficiently lift and lower vessels through the locks, causing transit delays and, in extreme cases, restrictions on vessel size.

Economic Consequences:

The economic consequences of drought-related disruptions to the Panama Canal are significant. Delays in ship transits can lead to increased operational costs, shipping delays, and potential bottlenecks in the global supply chain. Such disruptions can reverberate through various industries and impact economies around the world, highlighting the canal’s vital role in global trade.

Mitigation and Adaptation:

To mitigate the effects of drought, the Panama Canal Authority has implemented various strategies:

1. Water Conservation: The authority has introduced water-saving measures such as optimizing the use of locks and investing in water-efficient technologies.
2. Increased Tolls: During drought periods, tolls are raised to incentivize water conservation by shipping companies.
3. Expansion of Locks: The 2016 expansion of the Panama Canal, which introduced larger “New Panamax” vessels, has helped alleviate some capacity issues during periods of drought.
4. Investment in Infrastructure: Continuous investment in infrastructure, including dredging and water management systems, helps maintain the canal’s operational reliability.

Global Implications:

The Panama Canal is a linchpin of global trade, facilitating the movement of goods between the East and West. Any disruption to its operations has a domino effect on the global supply chain, affecting industries and consumers alike. Thus, the canal’s ability to adapt and manage drought-related challenges is of paramount importance.

In conclusion, the Panama Canal’s vulnerability to drought underscores the intricate relationship between climate change and infrastructure. As climate patterns become increasingly unpredictable, the canal’s reliance on a stable water supply is tested. The proactive measures taken by the Panama Canal Authority serve as a model for adaptation and resilience in the face of climate-related challenges. Ensuring the canal’s long-term viability is not just a regional concern but a global imperative, as it continues to be a critical artery of international trade.

Image by artes2franco from Pixabay

Introduction

AI is a type of technology that can learn from data and make predictions. It’s also called machine learning, deep learning, and neural networks. AI has been around for decades but it’s only recently that we’ve seen a surge in its popularity thanks to advances in processing power and algorithms (the steps used to solve problems).
AI is being used in global shipping for everything from optimizing routes to detecting fraudsters trying to take advantage of companies through their supply chain management systems.

Benefits of AI in Global Shipping

The use of AI in global shipping has the potential to improve efficiency, reduce costs and improve safety and security. It can also lead to a reduction in environmental impact by reducing fuel consumption and emissions.

Challenges of AI in Global Shipping

There are a number of challenges that stand in the way of AI adoption in global shipping.
First, data privacy and security is an issue for many companies. With so much sensitive information being shared between parties, it’s important to have strong measures in place to protect this data from being leaked or stolen by hackers.
Second, regulation around AI technology is still lacking in many parts of the world (including here in Europe). This makes it difficult for companies who want to implement new technologies like AI into their business models because they don’t know what regulations will apply or how they should be implemented within their own organizations’ culture

AI and the Impact on Human Jobs

AI is a tool that can be used to automate tasks or provide insights, but it’s not a replacement for human labor. The potential for job loss and the creation of new jobs are both real possibilities, but there are also ways to mitigate these effects through retraining programs and other initiatives.

Global Shipping Industry Statistics

The global shipping industry is a massive industry, with over $5 trillion in annual revenue and more than 100 million people working in it. It’s also growing at an impressive rate–the market size has increased by 5% per year since 2010, according to the United Nations Conference on Trade and Development (UNCTAD).
The number of ships has doubled since 1980, while ports have increased by 50% over the same period. This growth is expected to continue as more countries become connected through trade routes and infrastructure projects like bridges or tunnels are built between continents.

Global AI Market Statistics

The global AI market is expected to reach $158 billion by 2025, according to MarketsandMarkets. The market is expected to grow at a compound annual growth rate (CAGR) of 35.9% during the forecast period.
The number of AI-enabled applications in the global shipping industry has grown from just one in 2013 to more than 50 today, according to PwC’s “AI in Logistics: A Global Perspective.” In addition, more than 100 companies globally have started using AI technologies for various purposes such as supply chain optimization and inventory management.

Examples of AI in Global Shipping

The use of AI in global shipping is a growing trend, with many examples of how it can be used to improve operations. Here are some of the most notable:

• Predictive Maintenance: AI can help predict when equipment might fail, allowing shipping companies to perform maintenance before a failure occurs, reducing downtime and maintenance costs.

• Autonomous Ships: AI technology can enable autonomous ships to operate without human intervention, improving efficiency and safety at sea.

• Cargo Monitoring: AI-powered sensors can monitor cargo in real-time, ensuring that it is transported under optimal conditions and alerting shippers to any problems that might arise during transport.

The Role of Governments in AI in Global Shipping

Governments have a crucial role to play in supporting the development and adoption of AI solutions. They can help by creating a regulatory framework that encourages companies to invest in AI, as well as incentivizing them through tax breaks or grants. They can also support workers who may need retraining after being displaced by automation technologies, which could include offering education programs or providing funding for retraining initiatives.

The Role of the Private Sector in AI in Global Shipping

The private sector plays a critical role in AI in global shipping. The investment, development and deployment of new technologies are necessary to create an environment where AI can flourish. This includes developing best practices, research and development (R&D) initiatives, pilot projects and other activities that will help accelerate the adoption of AI solutions across the industry.

The Risks of AI in Shipping

The use of artificial intelligence (AI) in the shipping industry has the potential to revolutionize operations, but it also poses some risks. One potential danger of AI in shipping is the possibility of cyber attacks. The more companies rely on AI to manage their operations, the more vulnerable they become to hackers who can exploit vulnerabilities in the software. These attacks can lead to theft of sensitive data, disruption of operations, and even physical damage to vessels and cargo.
Another potential danger is the risk of job loss. As companies increasingly automate their operations through the use of AI, there is a risk that workers will be displaced. This could have a significant impact on communities that rely on the shipping industry for jobs and economic growth.
Finally, there is a risk that AI in shipping could exacerbate environmental problems. While AI has the potential to reduce fuel consumption and emissions, it could also lead to even greater exploitation of natural resources if companies prioritize efficiency over sustainability.
It is important for companies to carefully consider these risks as they adopt AI technologies in the shipping industry. By taking a proactive approach to cybersecurity, investing in retraining programs for displaced workers, and prioritizing sustainability in their operations, companies can help ensure that the benefits of AI in shipping outweigh the potential dangers.

Conclusion

AI is set to revolutionize global shipping. The technology has already been used in other industries and it’s only a matter of time before it makes its mark on this one too.
AI can be used for everything from optimizing routes and reducing fuel consumption, to improving safety standards and reducing insurance premiums for companies that use it effectively. It’s also being used to monitor the health of ships’ engines so they don’t break down unexpectedly while at sea–a huge plus for both passengers and crew members alike!
And while AI has the potential to transform the shipping industry by improving efficiency and reducing costs, companies must be aware of the potential dangers. Cybersecurity threats, job displacement, and environmental risks are all important considerations that need to be addressed as companies adopt AI technologies. By taking a responsible approach to AI, companies can help ensure that these risks are mitigated and that the benefits of AI in shipping are realized for years to come.

Photo by LJ

Tugboats have been an integral part of maritime transportation for centuries, and their evolution over time has been significant. These small but powerful boats have been used to maneuver large vessels, push and pull barges, and perform various other tasks in ports, harbors, and waterways around the world.

The earliest tugboats were small and manually operated, with crews using oars and long poles to push or pull ships into port. These boats were often made of wood and had low horsepower, making them less effective in strong currents or adverse weather conditions. However, they played a crucial role in ensuring the safe passage of ships and goods.

In the early 19th century, steam-powered tugboats were introduced, and they quickly became popular due to their increased power and maneuverability. These boats had more horsepower and could handle larger vessels, making them essential for the growing maritime industry. The steam-powered tugboats were also more efficient and allowed crews to work longer hours, which increased productivity and reduced transportation costs.

The next significant evolution in tugboat technology came in the mid-20th century, with the introduction of diesel engines. These engines were more powerful and fuel-efficient than steam engines, allowing tugboats to operate more efficiently and cost-effectively. Diesel engines also provided a safer and more comfortable working environment for the crew, as they produced less noise and vibrations than steam engines.

In recent years, there has been a growing interest in eco-friendly and sustainable tugboat technology. Many new tugboats are being designed with electric propulsion systems that produce fewer emissions and require less maintenance than traditional diesel engines. Some tugboats are also being built with hybrid engines, which use both electric and diesel power, to further reduce emissions and fuel consumption. Hydrogen-powered tugboats are a promising new development in the tugboat industry. These boats use hydrogen fuel cells to produce electricity, which powers electric motors to drive the propellers. Hydrogen fuel cells are a clean and efficient source of energy, producing only water as a byproduct.

Another significant development in the evolution of tugboats has been the use of advanced technology to improve safety and efficiency. Modern tugboats are equipped with sophisticated navigation systems, radar, and communication equipment that allow crews to operate in even the most challenging conditions. These technological advancements have made tugboats safer and more efficient than ever before.

In conclusion, the evolution of tugboats has been a long and fascinating journey, with each new advancement leading to improved efficiency, safety, and environmental sustainability. From humble beginnings as small wooden boats operated by hand to modern, high-tech vessels powered by electricity, tugboats continue to play an essential role in the global maritime industry. As we look to the future, it’s clear that the evolution of tugboats will continue, with new technologies and innovations that will further improve their performance and efficiency.

The ETA Nautical Technical Committee and EMPA have developed a set of recommendations for tugboat captains, pilots, and harbor masters to enhance the energy efficiency of tug and assisted vessels during harbor operations. These recommendations are based on three principles: planning, cooperation, and communication, and take into account other stakeholders in ports worldwide.

Stakeholders, including tug masters, pilots, ship captains, and other port operators, must consider weather, tides, safety, vessel traffic, expected cargo operations, and availability of tugs, pilots, and berths. This necessitates stakeholders working together during the port call, arrival, and departure of the assisted vessel to plan safe operations.

Communication technologies can be utilized to increase the engine outputs of tugs and assisted vessels, and pilots and tug masters should collaborate to design training and operations that combine energy efficiencies from escort and harbor operations.

Safe harbor towage must be coordinated in advance with all involved parties to enhance the energy efficiency of the operations. “Plan early, as that allows the towage operator to choose the best available tugs for the operation,” recommends ETA and EMPA in a report. “Create the towing plan together with other parties so the sideways movements of the vessel can be minimized. Share relevant information with the other parties involved.”

Information to be shared includes when cargo operations will take place, whether there are traffic restrictions, and when the pilot, mooring party, and tugs are available. Clear communications are required between pilots, captains of assisted vessels, and tug masters before and during harbor towage operations to avoid unnecessary use of propulsion forces on tugs or assisted vessels.

Changes to planned operations should be immediately communicated with all involved parties to prevent incidents, and better cooperation is required between pilots, tug masters, port authorities, vessel operators, mooring parties, shipping agents, and vessel traffic services.

“By clear communications and advanced operational planning, the harbor towage will be safe and energy efficient,” notes ETA and EMPA. They recommend improving knowledge sharing between stakeholders and conducting cooperation meetings with all involved players in harbor towage operations to minimize the environmental impact of operations.

Marine Gas Oil (MGO) is a type of diesel fuel used by ships for propulsion and power generation. MGO prices have been fluctuating in recent months, with the cost of the fuel often changing on a daily basis. This volatility can have a significant impact on the shipping industry, as fuel costs are one of the biggest expenses for ship operators.

One of the primary reasons for the fluctuation in MGO prices is the global demand for oil. When demand is high, prices tend to rise, while a decrease in demand can lead to a drop in prices. This is due to the fact that MGO is derived from crude oil, and the price of crude oil is closely tied to the demand for oil products such as gasoline and diesel. Additionally, political instability and natural disasters can also have an impact on the demand for oil and therefore MGO prices.

Another factor that can influence MGO prices is the cost of production. The cost of refining MGO can fluctuate depending on the price of raw materials, labor, and other production costs. When production costs are high, the price of MGO will also rise.

The ongoing COVID-19 pandemic has also had a significant impact on the shipping industry and MGO prices. The pandemic has led to a decrease in global trade, which has resulted in a decrease in demand for oil and MGO. Additionally, many countries have imposed lockdowns and travel restrictions, which has led to a decrease in demand for transportation fuels such as MGO.

Finally, the fluctuation in MGO prices can also be influenced by government policies and regulations. For example, governments may impose taxes or regulations on the shipping industry, which can increase the cost of MGO.

In conclusion, MGO prices are influenced by a number of factors such as global demand, production costs, pandemics, and government policies. Ship operators need to be aware of these fluctuations and plan accordingly to manage their fuel costs. The maritime industry is closely monitoring the MGO prices and taking necessary actions to mitigate the effect of the fluctuation on the freight cost and the operation of the ships.

What is Marine Gas Oil? Marine Gas Oil (MGO) refers to marine fuels that consist solely of distillates, the components of crude oil that evaporate in fractional distillation and are then condensed from the gas phase into liquid fractions (source: Oilfast).

Port of Antwerp-Bruges has partnered with Belgium-based maritime company Compagnie Maritime Belge (CMB.TECH) have introduced the world’s first hydrogen-powered tugboat named Hydrotug. The duo claims that Hydrotug runs on a combination of hydrogen and conventional fuel and would be used by the Port of Antwerp-Bruges to become a sustainable and climate-neutral port by 2050.

The Hydrotug is 12m wide and 30m long and can store 415kg of compressed hydrogen equivalent to eliminating emissions from 350 cars. It weighs around 65 tons and is powered by two BeHydro hydrogen dual-fuel medium-speed V12 engines. The BeHydro engine is developed by a JV (joint venture) between the CMB.TECH and Anglo Belgian Corporation (ABC) and is available in dual-fuel and hydrogen-only variants. The dual-fuel version reduces CO2 by 85% in operation and meets IMO (International Maritime Organisation) Tier III with aftertreatment. Hydrotug is the first vessel to be powered by the BeHydro engine and each engine provides 2 megawatts (MW)  and meets the latest EU Stage V emissions aftertreatment. The engines have passed the necessary Factory Acceptance Tests (FAT) that validate the proper functioning of the equipment. This is required by Lloyd’s Register, a global professional service that specializes in engineering and technology for the maritime industry and improves the safety of ships.

According to International Maritime Organization (IMO), the shipping industry is responsible for about 3% of man-made CO emissions and burns 5 million barrels of fossil fuel per day. The IMO has adopted various measures to target a 50% reduction in emissions by 2050 compared to 2008. Shipping companies are adopting various measures to make their operations sustainable and are choosing hydrogen as the fuel source for sustainable shipping. Port of Antwerp-Bruge and CMB.TECH claims that the Hydrotug can help significantly improve the air quality in ports and bring hydrogen technology ports across the globe. Port of Antwerp-Bruges is planning to make green hydrogen available by 2028 and is working on a project to develop a hydrogen delivery pipeline between the twin ports and into the European hinterland.

Source: Naval Technology

President Biden’s administration greenlit a major offshore wind project to supply power to New York, arriving as part of a broader push to build out renewable energy and tackle climate change.

The federal government’s approval Wednesday of a dozen wind turbines, located off the coast of Rhode Island, will send power to the eastern end of Long Island. The move inches the country closer to the Biden administration’s goal of generating 30 gigawatts of power from offshore wind energy by the end of the decade. Harnessing the Atlantic’s fierce winds is prominent in the president’s plan to wean the U.S. power sector off fossil fuels, which are dangerously warming the planet.

But the Biden administration still faces stiff headwinds ahead of meeting its clean energy goals. The effort to dot the East Coast with towering turbines has at times put advocates at odds with coastal homeowners worried about spoiled seaside views; fishermen concerned about the impact on their catch; and conservationists concerned about the impact on endangered whales.

continue reading

Image by Norbert Pietsch from Pixabay

Shipping giant Maersk is taking big strides to decarbonize its fleet with an order for eight new “green” container ships. The only problem? There’s not enough carbon-neutral methanol to power the vessels. Maersk said Tuesday that it would spend $1.4 billion on eight large ships that will have the capacity to travel on green methanol as well as traditional fuel. The ships, which will be built by Hyundai Heavy Industries and be able to transport approximately 16,000 containers, are expected to start operating in early 2024.

They cost 10% to 15% more than standard vessels. Yet the Danish company needs to transition its fleet within the decade in order to meet its goal of net-zero carbon emissions from its operations by 2050. Container ships typically have a lifespan of between 20 and 25 years.

The key challenge will be sourcing the green methanol needed to power the new ships sustainably. Maersk hopes that the size of its order will help jumpstart the market for cleaner fuel, but conceded this will be difficult.” Sourcing an adequate amount of carbon-neutral methanol from day one in service will be challenging, as it requires a significant production ramp-up of proper carbon neutral methanol production,” the company said in a statement.

Shipping is one of the dirtiest industries, requiring drastic action if the world plans to rein in the accelerating climate crisis. Maritime emissions account for almost 3% of global carbon dioxide output, according to the International Maritime Organization.

“The time to act is now, if we are to solve shipping’s climate challenge,” CEO Soren Skou said. “This order proves that carbon-neutral solutions are available today across container vessel segments and that Maersk stands committed to the growing number of our customers who look to decarbonize their supply chains.”

The company said that more than half of its 200 largest customers have set, or are in the process of setting, targets to cut the carbon intensity in their supply chains, pointing to retailer H&M and consumer goods behemoth Unilever (UL). That will require cooperation from Maersk, the world’s largest container shipping line.

Adding the ships to the company’s fleet as it retires older vessels will save 1 million metric tons in annual carbon dioxide emissions, the firm estimates.

In 2020, Maersk ships emitted about 33.9 million metric tons of CO2 from its fleet of around 700 vessels, according to its sustainability report.

Last week, Maersk announced that it had secured partners to produce the green fuel needed to power its first ship to run on carbon-neutral methanol, which is due to launch in 2023. But that vessel is significantly smaller than the ones the company just ordered.

Source: CNN Business

With the tugboat Bremen Fighter, Boluda Towage was awarded by German Federal Waterways and Shipping Administration (WSV) for the public contract of rescue services in the Baltic Sea. The contract came into effect on 5 March 2021.

The Bremen Fighter, the most powerful tug in the Boluda Towage fleet, with a 104 t bollard pull, is currently sailing to the port of Sassnitz on the island of Rügen, from where any emergency rescue operations can be launched after sea state monitoring.

From the second half of 2021, the Bremen Fighter will display the official coast guard colours, with a commitment to protecting maritime safety in the eastern Baltic Sea, under the command of German Federal Waterway Authorities.

Boluda Corporación Marítima CEO Vicente Boluda Fos has welcomed the fact that “the Boluda flag will be present in the Baltic Sea”.

This concession supports the internationalisation process of Boluda Towage’s towing service in northern Europe, in line with various strategic acquisitions closed by the company: in 2017 the German company Urag; in 2019, the Dutch company Kotug Smit Towage, enabling the company to operate in the main ports of Germany, the Netherlands, the UK, and Belgium; and February last the Dutch company Iskes Towage & Salvage, opening access to new ports in Germany and the Netherlands and internationalisation of the towing service in Portugal.

source: Dry Bulk Magazine

France’s Michelin Group joined a growing number of global brands committing to use a sail-powered carbon-free shipping alternative for its products. Michelin announced that has signed a letter of commitment for maritime transport of containers of its pneumatic tires aboard NEOLINE, the French start-up that plans to build two cargo ships that will use sails for their main propulsion.

Calling it a “test initiative to help decarbonize Michelin’s logistics operations,” the French manufacturer committed to the transportation of containers of its product from Halifax, Canada to Saint-Nazaire – Montoir de Bretagne, France as soon as the first cargo sailboat is commissioned. NEOLINE plans to open its transatlantic service with a first vessel in operation by 2023 and a second vessel scheduled a year later. Michelin committed to gradually growing its business with NEOLINE to at least 50 percent of the group’s containers transported on this route.

“This initiative and this new partnership promote innovation in the field of carbon-free transport,” said Pierre-Martin Huet, Michelin Group Supply Chain Director. “This first step in carbon-free shipping is fully in line with the CSR strategy of Michelin’s operations. It will contribute to achieving the objective of reducing CO2 emissions from logistics by 15 percent in absolute terms between 2018 and 2030.”

NEOLINE’s plan calls for the construction of two 446-foot long vessels that will get their main power from 4200 m2 of sails. Relying on wind as the main propulsion for its cargo ships, NEOLINE is promoting its services to shippers offering a 90 percent reduction in CO2 emissions related to transatlantic maritime freight transport.

The initial plan for the sail cargo ships to maintain service between Baltimore, Maryland via Halifax and the French archipelago of Saint Pierre and Miquelon and crossing the Atlantic to Saint-Nazaire – Montoir de Bretagne. Founded in 2015 after four years of study, NEOLINE says that it has simulated operational conditions based on five years of meteorological data to select the route which it can be operated with sailings every 14 days maintaining a commercial speed of 11 knots.

They are planning two pilot project ships as a demonstration and proof of the concept. The design for the ship includes duplex rigging and anti-drift fins, which NEOLINE says favor regular and efficient navigation under sails. These elements will also be retractable to allow access to a majority of ports.

Equipped with two loading ramps, the Neoliner is designed to load cargo units of various sizes and types of packaging in two loading spaces, fully protected and secured in the event of rough conditions. Capacities will be optimized by the use of mobile decks permitting the ship to load heavy or oversized shipments up to 200 tons and a height of 32 feet. The design has a carrying capacity of 280 TEUs, 5,000 tons of conventional cargo, or up to 1500 linear meters of ro-ro cargo such as 500 cars.

NEOLINE has international patents on the design. The company, however, is yet to place a firm construction order for the first pilot ship.

“We are honored to welcome on board the Michelin Group, an emblematic French player strongly committed to innovation and sustainable mobility,” said Jean Zanuttini, President of NEOLINE. “This first commitment concerns Eastbound flow (from the Americas to Europe) and comes in addition to an already well-filled order book in Westbound direction (from Europe to the Americas). With our sailing cargo ships, we are developing a mode of transport that is more environmentally friendly, adapted to the current economic and logistical reality of shippers, and not dependent on fossil fuels.”

In addition to the agreement with Michelin Group, NEOLINE has announced agreements with other major French industry leaders. including Groupe Renault, Groupe Beneteau, Manitou Group, and Jas Hennessy & Co.

Main Characteristics Neoliner:

Length:                              136 m (446 feet)
Width:                                24.2 m (79 feet)
Water draft:                       5.5 m (port) / 14 m (offshore) (18 feet / 46 feet)
Air draft:                            67 m / 41 m (tilted masts) (220 feet / 135 feet)
Displacement:                   11000 t
Deadweight capacity:        5000 t
Total sail surface:              4200 m²
Power (diesel-elec.):         4000 kW
Commercial speed:           11 knots
Max. engine speed:           14 knots
Crew members:                 14
Ramp capacities:               9,80m (height) by 12,60m (width)

source: The Maritime Executive

Forth Ports has acquired Angus tug firm Targe in a multi-million pound deal to create a marine services business “of scale” along the east coast of Scotland.

Set up in 1991, Targe employs 90 people and was previously owned by the family of managing director Tom Woolley. Edinburgh-based Forth Ports has acquired the entire share capital of Targe for an undisclosed multi-million sum.

Based in Montrose, Targe owns nine vessels, including five tugs providing dedicated towage in Dundee, Aberdeen and Peterhead. It is also contracted to run three further tugs at the Hound Point marine terminal on the Firth of Forth.

Forth Ports has a fleet of 10, including four tugs.

Day-to-day operations at Targe will remain unchanged, with Mr Woolley and operations director Nick Dorman continuing to lead the business. They will be joined by Alasdair Smith, Forth Ports’ senior marine commercial manager, while the integration and collaboration between Targe and Forth Estuary Towing will be led by Forth Ports chief operating officer Stuart Wallace.

The Targe name will be retained.

Forth Ports chief executive Charles Hammond said his group’s towing fleet has been working with that of Targe on projects for a number of years, the most recent being the safe passage of the Valaris Gorilla VI jack-up rig that departed the Port of Dundee this past weekend.

“It is a good logical move for us,” he said. “Targe is an extremely well-run, professional business, and we are delighted to be the new owners.”

The aim now, he said, is to create a marine services business “of scale” along the east coast, with the longer-term prospect of expanding further afield.

“I am confident that, as part of Forth Ports, Targe will develop and grow at an even faster pace,” Mr Hammond added.

Mr Woolley said: “We have enjoyed a close working relationship with the Forth Ports team for years and it’s clear that there are opportunities that we can pursue together to further develop the business.”

Targe has received several awards for its work at the Hound Point marine terminal from BP and Ineos, both of which are major customers of Targe and Forth Ports. Both companies have recently made significant investments in their towage assets, with Forth Ports adding the Craigleith and Inchcolm tugs, and the Kittiwake and Peterel joining the Targe fleet.

source: The Herald