Fairfield Maritime Japan (FMJ) on Wednesday (22 July) said it has signed a long-term charter contract with Neste for two vessels. 

The agreement enables FMJ to fund and manage the construction of two Ice Class 1A medium range (MR) oil and chemical tankers for Neste’s transports to and from its refinery in Porvoo, Finland. Neste is a producer of renewable diesel and sustainable aviation fuel (SAF), also refining a wide range of oil products in Porvoo. 

Fairfield Maritime Japan Ltd. is a portfolio company of Fairfield-Maxwell Ltd., a family office for the Sugahara family headquartered in New York City.

The two new ships will each have the capacity to ship 50,000 deadweight tons (DWT) and will be built by HD Hyundai Co., Ltd. of South Korea and delivered in the first and second quarters of 2029.

As Ice Class 1A certified ships, the two new vessels will be capable of navigating in ice conditions with the support of icebreakers, adhering to the Finnish Swedish Ice Class Rules.

These rules encompass the specific requirements for vessels navigating the Baltic Sea during the winter season. The highly ice-resistant ships will be able to approach and depart Porvoo in the winter months, contributing to operational continuity for Neste’s Porvoo facility.

The vessels will utilise low-sulphur fuels and will be capable of being retrofitted to operate on methanol at some point in the future. 

The vessels will be ready for the future with the possibility to connect to shore power when that is available. In addition, the ships will be equipped with wind-assisted propulsion systems (WAPS) to supplement the ships’ main engines. These technologies will reduce fuel consumption, emissions and operating costs.

“We’re pleased to partner with Fairfield Maritime Japan and Fairfield-Maxwell. With these new state-of-the-art vessels, we are continuing our efforts to deliver safe and efficient sea transport to and from our Porvoo refinery,” said Sander Wilgenhof, Head of Chartering, Neste.

“We are proud to be Neste’s long-term partner,” said Ryuichi Osonoe, President, Fairfield Maritime Japan. 

“We believe that our knowledge and expertise will significantly assist Neste in its sea transportation. We are looking forward to seeing these two new ships cross the sea to safely export out of Neste’s Porvoo refinery.”

“Fairfield has been a partner of choice for world-class shippers for nearly 70 years,” said Byron Sugahara, chairman of the board of Fairfield-Maxwell. 

“This agreement with Neste is  confirmation that our family’s legacy in the shipping industry remains strong and provides a solid foundation for continued growth and success.”

Photo credit: Scott Graham
Published: 24 July, 2026

Technology-led marine fuels trading company Shipergy on Tuesday (21 July) announced a series of appointments and promotions across its commercial team.

Lina Molfetas has been appointed Trading Manager, based in London. In this senior commercial role, Lina leads trading activity across the desk, oversees and develops trading activities, and continues to build on the client relationships she has cultivated since the firm’s earliest days. Lina has been with Shipergy from the outset and has been central to its growth.

Tasos Aliferis has been promoted to Head of Trading – Greece, taking responsibility for Shipergy’s trading and client relationships in Greece. Tasos has consistently been one of the firm’s standout performers, and the promotion reflects both his results and the leadership he already shows within the team.

Sotirios Tsesmelis has been promoted to Senior Trader, in recognition of his strong performance and his growing contribution to the business over the last two years.

Daniel Rose, Chief Executive Officer of Shipergy, said: “These appointments reflect the depth of talent we have built at Shipergy and the ambition we have for the years ahead. Lina, Tasos and Sotirios have each been central to what we have achieved, and I am delighted to see them take on these roles as we continue to grow. 

“Backing our people and rewarding their contribution has always been at the heart of how we operate.”

Photo credit: Shipergy
Published: 23 July, 2026

Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (21 July) said Project CAPTURED has achieved two regulatory milestones that strengthen the commercial case for onboard carbon capture and storage (OCCS).

This comes following its world’s first demonstration of an end-to-end value chain for onboard captured and liquefied CO2 (LCO2).

Completed in June 2025, the pilot showed that CO2 captured onboard a vessel can be offloaded ship-to-ship, transported overland and permanently bound through carbon mineralisation—a process that converts captured CO₂ into stable materials for industrial use.

The CO2 captured onboard during Project CAPTURED has been formally recognised for compliance under the European Union Emissions Trading System (EU ETS). This means the verified tonnage of captured CO2 can be deducted from emissions requiring the surrender of EU Allowances (EUAs).

To qualify for this recognition, the CO2 must be chemically bound permanently in eligible products. Project CAPTURED demonstrated that CO2 captured onboard vessels can meet this requirement through carbon mineralisation.

The data and learnings from the same demonstration formed the basis of a proposal submitted to MEPC 84. This proposal received in-principle support from the International Maritime Organization (IMO) for recognising carbon mineralisation as a form of permanent CO₂ storage.

Complementing geological sequestration, which is already accepted by the IMO, this recognition broadens the downstream options for CO2 captured onboard vessels, and supports the development of maritime carbon value chains. Beyond providing a permanent storage pathway, carbon mineralisation also creates the potential for captured CO2 to serve not only as a waste stream requiring permanent storage, but also as a feedstock for industrial applications through carbon mineralisation, extending emissions reductions beyond the shipping value chain.

Professor Lynn Loo, CEO, GCMD, said, “Project CAPTURED has moved OCCS beyond technical demonstration. The acceptance of the EU ETS deduction gives captured CO₂ a compliance value. At the same time, IMO’s in-principle support for carbon mineralisation will help clarify how captured CO2 can be treated after it leaves the vessel. Together, these milestones turn a pilot into a verified reference case for maritime carbon logistics, one that links regulatory recognition, commercial value and emissions impact.”

Photo credit: Venti Views on Unsplash
Published: 22 July, 2026