Dryad Global’s cyber security partners, Red Sky Alliance, perform weekly queries of  backend databases, identifying all new data containing Motor Vessel (MV) and Motor Tanker (MT) in the subject line of malicious emails.  Email subject line Motor Vessel (MV) or Motor Tanker (MT) keyword usage is a common lure to entice users in the maritime industry to open emails containing malicious attachments.

With our cyber security partner we are providing a weekly list of Motor Vessels where it is observed that the vessel is being impersonated, with associated malicious emails.

The identified emails attempted to deliver malware or phishing links to compromise the vessels and/or parent companies.  Users should be aware of the subject lines used and the email addresses that are attempting to deliver the messages.

Tactical Cyber Intelligence Reporting

In the above collection, we see malicious actors attempting to use vessel names to try to spoof companies in the maritime supply chain.  This week we observed a wide variety of maritime-related subject lines.    Some of the new vessel names used this week include “MT Pavino” and “MV GOLDEN PEARL” among others.

Analysts observed subject line “M/V Ocean Adventure – Fittings for Rescue Boat Repair” being used in a malicious email this week.  The malware contained in this email is one of the most common pieces of malware observed by analysts across all industries.

The email sender is listed as “li <>.” The sending email address does not appear to be registered to any legitimate company, and the domain (eliteomar[.]com) is listed on a defacement website indicating that the webhost was hacked by an Indonesian hacking team – “Indonesian Cyber Jawa”.  The email signature shows the sender’s name is “Kelvin Li” and lists two maritime companies – ATN Marine and Trading Co., LTD & ARC Marine Services Co.,LTD.  Notably, the mailing address listed in his signature is not registered to either company.  A more legitimate email is listed in the signature as well so it is unclear why this user would be sending emails from the “” address.

The targeted recipient of this email is an International Technical Marine Sales agent for Fuji Trading (Marine) B.V. which is a “world leader in marine supply” located in The Netherlands.[1]  There is no clear connection between Fuji Trading (Marine) B.V. and ATN or ARC Marine.  Hans’ email does not appear to be listed publicly anywhere online.

The malware in this email is contained in a malicious .doc attachment titled “103 SWIFT 13-05-20.doc.” When opened, the victim would activate HEUR:Exploit.MSOffice.Generic malware.[2]  This malware exploits a MS Office memory corruption vulnerability (CVE-2017-11882), often downloading a malicious file disguised as an audio driver (%Application Data%audiodrvrdll.exe).[3]

Analysts observed another malicious email containing the subject line used last week, “Amended P.O 28602 / Hebei Ocean.”  The email was sent from “Hebei Ocean Shipping Agency Ltd.<>.

The sender email domain appears to be registered to the Hebei Ocean Shipping Agency domain “  As there is no company website.  Analysts are unable to verify the legitimacy of the sending domain but have low confidence that the domain is in fact owned by the shipping agency.  The sending email address was associated with a separate malicious email posted on a spam-email website and does not appear to be a deliverable email address.[4]

The targets were not disclosed in this email making it difficult to conclude the attackers intentions, but the malicious file attachment:
“PURCHASE ORDER 28602.gz” contains HEUR:Backdoor.Win32.Androm.gen” malware.[5]  The file contains backdoor malware which makes registry and file changes to gain a foothold on the victim’s device.  Kaspersky claims that approximately 25% of this malware’s victims are in either Germany or Russia.

These analytical results illustrate how a recipient could be fooled into opening an infected email.   Doing so could cause the recipient to become an infected member of the maritime supply chain and thus possibly infect victim vessels, port facilities and/or shore companies in the marine, agricultural, and other industries with additional malware.



Classification society Korean Register (KR) has signed an MoU with Samsung Heavy Industries (SHI) to conduct a joint study on “Ship Cyber Security Network Construction and Design Safety Evaluation” at the Marine Engineering Research Center of SHI.

Under the MoU, the two organisations have agreed to evaluate the construction and design safety of cyber security networks applicable to new ships. In addition, they will jointly study technologies that can respond to cyber threats faced by ships, by diagnosing ship cyber security vulnerabilities using the cyber security test beds built by SHI.

SHI is recognised for its technological prowess as a result of its cyber security certifications received from major shipping companies based on its proprietary smart ship solution, SVESSEL. It is expected that by combining KR’s classification capability and the smart ship technology of SHI, the resulting synergies will be extremely beneficial to the shipping industry moving forward.

Cyber security risk management will be significantly strengthened in 2021 when the IMO’s resolution “Cyber Risk Management in Safety Management System (MSC.428 (98))” comes into effect. In the lead up to this date, KR and SHI will work together to enhance and support the application and verification of ship cyber security rules.

“Through this partnership and joint research with Samsung Heavy Industries, we will strengthen our ship cybersecurity certification and our technical service capabilities. KR will also continue to increase its cybersecurity technology leadership in the global maritime market using world-class construction technology through our cooperation and close working with shipyards,” said Kim Dae-heon, head of KR’s Digital Technology Center.

Shim Yong-rae, head of the Shipbuilding and Marine Research Institute of SHI, added, “We expect to considerably increase the security capabilities of smart ships through our joint research with KR, which is renowned for its cybersecurity certification technology. In addition, we will continue to deliver ships with the very latest world-class cybersecurity capabilities for our customers.”

Demand for effective cyber security continues to grow. KR established a maritime cyber security management certification system in 2018 and provides certification services for companies and ships, as well as cyber security type approval services for ship networks and automated systems. The maritime cyber security management certification system encompasses the international security standards (ISO 27001 and IEC 62443), the maritime cyber security guidelines of the IMO and the shipping association BIMCO.



DP World, a leading enabler of global trade, has completed the early stages of integration with TradeLens, a blockchain-based digital container logistics platform, jointly developed by A.P. Moller – Maersk  and IBM.

The collaboration between DP World and the TradeLens platform will help accelerate the digitisation of global supply chains. DP World aims to connect all its 82 marine and inland container terminals, as well as feeder companies and logistics divisions with TradeLens. In 2019 DP World’s terminals handled 71.2 million TEU (twenty-foot equivalent units) containers from around 70,000 vessels.

TradeLens brings together data from the entire global supply chain ecosystem including shippers, port operators and shipping lines. It also aims to modernise manual and paper-based documents, replacing them with blockchain enabled digital solutions.

For DP World the data from its integration with TradeLens will improve operational efficiency with earlier visibility of container flows across multiple carriers. Such visibility includes confirmation of the transport modality that follows the port stay for each container, which in heavy transhipment or rail ports enable better yard planning. It will also expand the capabilities of DP World’s digital platforms created to move online the management of logistics. The DF Alliance, SeaRates, LandRates and AirRates enable shippers to move cargo to and from anywhere at the click of a mouse, across DP World’s network and beyond.

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Office of DP World said:

“Our decision to team up with TradeLens is driven by our vision for intelligent logistics, reducing costs and creating value. DP World is working to deliver integrated supply chain solutions to cargo owners, backed by our global network of ports, terminals, economic zones and inland operations. By working with TradeLens we will accelerate the digitisation of global trade. Modernising the processes by which logistics operate is critical to building more robust and more efficient supply chains which will help economic development and generate more prosperity.”

TradeLens provides visibility across the entire supply chain, from booking to clearance to payments and is built on a wealth of input from the industry including direct integrations with more than 110 ports and terminals, 15+ customs authorities around the world and an increasing number of intermodal providers.

Vincent Clerc, CEO of Ocean and Logistics, A.P. Moller – Maersk, said:

“It is very encouraging to see the continued adoption of the TradeLens platform among global logistics players as it helps global supply chain customers expand and explore the benefits of digital documentation flows. In turn, the broadened geographic scope of the platform provides new opportunities for TradeLens ecosystem participants to innovate and develop digital offerings on the platform.”

Mike White, CEO GTD Solutions and Head of TradeLens, said:

“At its core the TradeLens business model is an open and neutral platform to spur collaboration and digitisation between all parties in the supply chain ecosystem. We are excited to welcome DP World and eagerly await the creation of new potential ways of working for shippers and consignees in global trade. With 4 of the 5 largest global port operators actively engaged with TradeLens, the coverage of the ecosystem continues to expand rapidly.”

DP World has already connected Cochin Port (India) with the TradeLens platform via API technology. Plans to collaborate with other DP World business units, including the feeder line Unifeeder, have also been initiated.



The ISM Code, supported by the IMO Resolution MSC.428(98), requires ship owners and managers to assess cyber risk and implement relevant measures across all functions of their safety management system, which will be verified by DNVGL at the first Document of Compliance ISM office audit after 1 January 2021.

CYBER SECURITY will be a focus area during the ISM office DOC audit in 2020, where the company auditor verifies the status of implementation. Observations and suggestions for improvement will be issued to support you for further preparation and implementation.

Click here for the Cyber Security Protocol which has been developed to support the auditing process having the focus on measures and procedures for managing Cyber Security Risks as per the ISM Code, based on IMO Resolution MSC 428(98), mandating cyber risk to be managed through the ISM Code and the corresponding Safety Management Systems.

Implementation process
(1) Recommended steps to ensure IMO`s Cyber Security compliance:

Application of PDCA process:


(2) Make an inventory of systems and software:

IT: Information Technology (IT)

  • IT networks
  • E-mail
  • Administration, accounts, crew lists, …
  • Planned Maintenance
  • Management system
  • Spare part management and procurement
  • Electronic manuals & certificates
  • Permits to work
  • Charter party, notice of readiness, bill of lading

OT: Operation Technology

  • Propulsion, Thrusters & Steering
  • Watertight integrity & Fire Detection
  • Ballasting
  • Power generation & Auxiliary systems
  • Navigation & Communication (ECDIS, …)
  • Industrial systems if applicable (DP, Drilling, … )
  • Cargo systems

(3) Prepare a gap analysis based on the ISM-code requirements:

  • Objectives for cyber security management
  • Define a cyber security policy
  • Critical Equipment: Risk Assessment & Systems to be covered
  • Responsibilities and Authority
  • Resources and Personnel
  • Training and Awareness
  • Shipboard Operations
  • Emergency Response, including drills
  • Reports and Analysis of Non-Conformities, Incidents and Hazardous Occurrences
  • Cyber security maintenance on IT/OT systems and equipment
  • Documentation
  • Company Verification, Internal audits, Review and Evaluation

More information can be found on the DNVGL website.



LONDON/WASHINGTON — Ship owners and insurers say it may be impossible for the maritime industry to fully comply with the Trump administration’s new guidelines on how to avoid sanctions penalties related to Iran, North Korea and Syria, raising the risk of disruptions in a sector already struggling with the fallout of the coronavirus outbreak.

The advisory issued this month marked the first U.S. sanctions guidance for the global maritime sector, and will test Washington’s ability to clamp down on violations without disrupting an industry that handles 90% of the world’s trade.

The final version of the U.S. guidance, written after feedback from maritime professionals, asks for enhanced data-sharing between the shipping industry and U.S. authorities, constant location tracking of vessels, and industry-led investigations into suspicious activity.

A U.S. State Department official told Reuters the advisory contained “recommended best practices,” not hard requirements.

A second State Department official said the administration hopes the guidance improves the industry’s self-monitoring to help the industry avoid violating sanctions.

“There are parts in there that we can’t do,” said Mike Salthouse, chairman of the sanctions sub-committee with the International Group association, which represents companies that insure about 90 percent of the world’s commercial shipping.

He said that, while the industry welcomed the opportunity to consult on the guidance, the advisory’s data-sharing suggestions, for example, will bump up against European privacy laws: “We can’t share information about members we have ceased to insure on the basis of a suspicion of breaking sanctions because that contravenes competition law.”

“We are also constrained in relation to sharing personal data by the GDPR,” Salthouse added, referring to the European Union’s General Data Protection Regulation.

U.S. guidelines seeking constant location monitoring of ships, and investigations by insurers of gaps in that tracking, may also prove difficult, industry officials said. The advisory notes that weather often interferes with AIS transponders, and ship captains should have the discretion to go dark to avoid pirates or militants on the high seas.

“Importantly, a signal not received is not the same as a signal not sent,” said Neil Roberts, head of marine underwriting at the Lloyd’s Market Association, which represents the interests of all underwriting businesses in London’s Lloyd’s insurance market.

He added that it was “not commercially practical for insurers to track ships 24/7.”

Michele White, general counsel with oil tanker association INTERTANKO, said the U.S. advisory’s recommendations would be used as the new expected standard.

“This is asking private marine sector entitles effectively to do the enforcers’ job, whilst at the same time opening itself up to potential sanctions breach,” she said.

Since the election of President Donald Trump, the United States has ratcheted up its pressure on adversaries like OPEC-members Iran and Venezuela by imposing tighter U.S. sanctions meant to choke off their economic lifelines, and it has promised stricter enforcement.

In one example of increasing U.S. attempts to micro-manage the sanctions, Brian Hook, the State Department’s top official on Iran, last year sent emails to the captain of an Iranian tanker that was suspected to be en route to Syria, asking him to steer the tanker to a country that would impound it on behalf of Washington.

The uncertainty around the maritime guidance heaps pressure on shipping companies that are already dealing with global restrictions due to the coronavirus. Some crews have been stuck at sea for weeks and companies are facing financial trouble, as demand to transport non-essential items has slowed.   

(Editing by Richard Valdmanis and Marguerita Choy)


WASHINGTONMay 29, 2020 /PRNewswire/ — Today Jennifer Carpenter, President & CEO of the American Waterways Operators, testified before the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation on the status of the U.S. maritime supply chain during the COVID-19 pandemic.

In written testimony submitted to the Subcommittee, Mrs. Carpenter framed her analysis in terms of three overarching messages:  1) the U.S. domestic maritime supply chain is resilient; 2) business continuity does not – and cannot – mean business as usual, especially where health and safety are concerned; and, 3) Congress has a vital role to play in ensuring the stability of the public policy pillars that create the foundation for the supply chain’s resilience and the nation’s recovery.

On supply chain resilience, Mrs. Carpenter emphasized that the American tugboat, towboat and barge industry is playing a key role in keeping the nation’s economy afloat, continuing to transport vital commodities and guiding ships safely into port. Mrs. Carpenter stated: “While cargo volumes in many sectors have declined due to depressed demand, mariners have continued to report to work, vessels have continued to operate, and the industry has adapted to maintain operational continuity and readiness.”

Mrs. Carpenter also observed that a critical component of maintaining operational continuity during the pandemic has been the early prioritization of crewmember health and safety: “The industry’s extensive experience with contingency planning, safety management systems and incident command structures has served it well in managing the health, safety and operational challenges posed by the pandemic. A tow on the river or an articulated tug-barge unit at sea for two to four weeks at a time is effectively a self-quarantined environment, and companies quickly put in place – and have continued to refine – procedures aimed at keeping the virus off their vessels.”

When discussing Congress’s role in supporting the maritime supply chain, Mrs. Carpenter noted there are: “…four pillars that enable the tugboat, towboat and barge industry to do the essential work it does for American shippers and the American economy. Those pillars – the Jones Act; modern, well-maintained ports and waterways infrastructure; a nationally consistent system of laws and regulations governing vessels in interstate commerce; and maritime safety – are more important than ever amid the circumstances of the COVID-19 pandemic.”

Mrs. Carpenter concluded: “The U.S. domestic maritime supply chain is resilient, and the tugboat, towboat and barge industry is well equipped to continue to serve our nation as we begin the long road to recovery from the economic disruption caused by this global public health crisis.”

Mrs. Carpenter’s full written testimony to the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation is available here.

About the American Waterways Operators

The American Waterways Operators is the national trade association representing the tugboat, towboat and barge industry, which operates on the rivers, the Great Lakes, and along the coasts and in the harbors of the United States. Barge transportation serves the nation as the safest, most environmentally friendly and most economical mode of freight transportation.

SOURCE American Waterways Operators


On the 23rd May 2020, the Ports and Yachting Directorate within the Authority for Transport in Malta (the Maltese Port Authorities) published Port Notice 09/2020 entitled COVID-19 Temporary Precautionary Measures – Framework of Protocol for Conducting Maritime Support Services. This Notice is further to Port Notice 06/2020, which was previously issued by the Authorities on the 26th March 2020.

Port Notice 09/2020 was issued by the Maltese Port Authorities following consultation with the Port Health Office. It creates a framework of protocols that must be respected when maritime services providers in Malta are engaged to conduct various maritime support services.

Ships, yachts and all other vessels intending to obtain services in Maltese waters or within ports and harbours must seek prior port clearance. If cleared, vessels will be required to follow the protocols established in the said Port Notice.

Interestingly, the previous blanket ban on all yachts from entering Malta has been lifted. Yachts requesting permission to enter Maltese waters for services and ships requesting to enter Malta to carry out maintenance will be considered on a case-by-case basis. If and when approved, protocols and other conditions that must be followed by the vessels will then be communicated to the local agents by the Port Health Office.

The Notice also provides for an exemption to the otherwise applicable travel ban in cases of crew repatriation and likewise in cases of “ship operations”.  Requests will be referred to the Superintendent of Public Health for consideration and will be dealt with on a case-by-case basis. If approved, protocols and other conditions that must be followed will be communicated by the Port Health Office.

For further information kindly contact Dr Jotham Scerri-Diacono and Dr Jan Rossi.

Originally published 25 May 2020

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Since the EU General Data Protection Regulation became effective May 25, 2018, most American companies have been inundated with contract addenda from vendors, customers and just about everyone else with whom they do business, intended to respond to the privacy requirements of the GDPR. Many proposed addenda include requirements to include standard contractual clauses or similarly purposed documents, such as binding corporate rules. Should American companies without significant EU-based assets sign these addenda?

The answer may well be “no.” The reason is the Uniform Foreign Country Money Judgments Recognition Act.

Liability exposures under GDPR

Most discussion of financial remedies for “infringement” of the GDPR highlights the attention-getting maximum of “administrative fines” provided in Article 83. These fines, when levied, are issued by an EU supervisory authority, as established by each member state.

Less discussed is the potential for claims by data subjects themselves as set out in Articles 79, 80 and 82. These articles contemplate proceedings in whichever nation the data subject resides, as well as potentially allowing for collective actions, bundling of groups of similar individual claims. And while the administrative fines established in Article 83 are capped (even though that cap is massively high), there is no cap on damages for data subjects.

So, faced with such exposures, should an American company with no EU-based assets nevertheless hire an EU attorney in the forum state to defend against a complaint filed by either a supervisory authority or data subject?


If either an administrative fine or a damages judgment is entered by an EU tribunal against an American company with no assets based in the EU, the complainant would have to seek recognition of the EU judgment in a U.S. court and then enforcement of that judgment against the U.S.-based assets of the American company.

The U.S. is not a party to any international treaty on the subject of recognition of foreign country judgments. Congress has, to date, enacted no federal statute on this subject. The only applicable body of U.S. law is that applied by U.S. states.

The Uniform Law Commission proposed a comprehensive scheme in 2005, the UFCMJRA, including specific provisions for recognition of foreign country judgments. Per the ULC’s website, 24 states plus the District of Columbia, have enacted the 2005 version, and it is pending in three additional state legislatures as of this writing. As to those states that have not enacted the 2005 version, the common law is likely to vary but will generally follow the principles set out in the UFCMJRA.

The UFCMJRA provides that the act does not apply at all to, among other things, “a fine or other penalty.”  Thus, a strong argument can be made that EU-entered administrative fines will not be recognized — and therefore cannot be enforced — in the U.S.

Section 4 sets out exceptions in which a court “may not” recognize a judgment and where a court “need not” do so — the first being mandatory and the second being discretionary.

In the “may not” category are lack of due process of law, lack of personal jurisdiction over the defendant and lack of jurisdiction over the subject matter. Most disputes will most likely arise under dealing with personal jurisdiction.

The “need not” provisions include eight categories. Most important for present purposes is “in the case of jurisdiction based solely on personal service, the foreign court was a seriously inconvenient forum for the trial of the action.” It is difficult to imagine a more “seriously inconvenient forum” for an American company than a forum separated by an ocean.

Unless a representative of an American company happens to be in the member state and served with process while there, the American company is likely not subject to personal jurisdiction of the EU tribunal — and therefore a foreign money judgment against that company would likely not be recognizable by a U.S. court under the UFCMJRA — unless it has performed specific other actions specified in Section 5. And this is where the intersection with SCCs and BCRs occurs.

While the UFCMJRA describes actions that submit to personal jurisdiction similar to those applied by U.S. courts for general or specific jurisdiction, more relevant to the current discussion are Sections 5(a)(2) (defendant voluntarily appeared other than to protect seized property or to contest jurisdiction) and 5(a)(3) (defendant agreed to submit to jurisdiction before commencement of the proceeding).

Section 5(a)(2) presents a partial answer to the question of whether an American company without EU-based assets should hire an EU attorney and contest the merits of a GDPR claim. There may be good reasons to do so under certain circumstances, but companies should only do so in recognition that by voluntarily appearing, they have likely waived some important potential defenses to the recognition of any judgment rendered by the EU tribunal by U.S. courts.

Section 5(a)(3), however, is more insidious. Unsuspecting companies may waive jurisdictional defenses to U.S. recognition of EU judgments without even realizing it until it is too late.

Potential impact of SCCs on UFCMJRA defenses

The purpose of SCCs, BCRs and other similar GDPR-contemplated documents is to comply with the GDPR requirements for cross-border transfers of personal data, for countries (like the U.S.) that have not been certified by the EU as “adequate jurisdictions.”

As the name implies, SCCs are “standard” — not subject to negotiation and must be accepted as is. The same is true for BCRs.

Both SCCs and BCRs include provisions that expressly allow data subjects to enforce GDPR against data exporters. They include provisions by which the data exporter agrees that persons who suffer damages are “entitled to receive compensation from the data exporter” and agree to the jurisdiction of a tribunal of the member state where the data exporter “is established,” governed by the laws of the member state.

Thus, an American company that is not otherwise subject to EU personal jurisdiction and therefore has potential grounds for contesting recognition of an EU judgment by a U.S. court risks losing that defense under Section 5(a)(3) of the UFCMJRA if it agrees to SCCs or BCRs, thereby agreeing to jurisdiction of the EU tribunal.

Many small- to mid-sized American businesses sell only within the U.S. but nonetheless communicate with (and thereby collect personal information about) foreign individuals in a myriad of contexts. Websites know no borders, and many U.S.-based companies interact with EU counterparts even as they have no EU-based assets.

And even if an American company does not itself have any contacts with EU individuals, many of the companies with which it does business may themselves have EU connections.

It is in this context that digital privacy addenda and similarly named contract documents are being received daily by most companies from vendors, customers and others whose own inside or outside counsel have devised contract forms designed to meet GDPR (and now, California Consumer Privacy Act) requirements. Wisdom suggests, however, that companies should think twice before agreeing to these contract provisions.

Photo by Leon Seibert on Unsplash0


Digitalisation and modern technologies have rapidly changed the maritime sector in recent years. That is why European maritime professionals, both at sea and ashore, need more digital and soft skills to stay ahead of the industry. This was concluded from research by SkillSea.

The research report, written by experts from the Norwegian University of Science & Technology (NTNU) and Liverpool John Moores University in the UK, and with the assistance of other SkillSea partners, examined the main trends in the shipping sector: education, technological developments, such as autonomous vessels and clean energy, collaboration between clusters and digitisation.

The report shows that more training should be given in sustainability, greening and digitisation. Future seafarers also need to develop soft skills in leadership and management. In addition, there is a need for transition programmes that make the shift from working at sea to working on shore easier.

Finally, the researchers recommend that the STCW training (the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers) be extended to include maritime law, corporate finance, autonomous shipping and other new technology-based skills.

This research was conducted before the Covid-19 crisis and its lockdowns hit Europe. The crisis however, does not affect the conclusions of this report, yet according to SkillSea the Covid-19 situation makes the conclusions of the report even more relevant.

The full report can be found on the SkillSea website.


CHICAGOMay 29, 2020 /PRNewswire/ —  According to the new market research report Marine Battery Market by Battery Type (Lithium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Application, Sales Channel, Ship Range, Nominal Capacity, Battery Design, Battery Function, and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Marine Battery Market is estimated to be USD 250 million in 2020 and is projected to reach USD 812 million by 2025, at a CAGR 48.1% from 2020 to 2025. Implementation of sulfur 2020 rule and rise in the conversion of propulsion systems in passenger vessels are the major factors anticipated to boost the demand for marine batteries during the forecast period. The rise in seaborne trade across the globe, growing maritime tourism industry, and the development of lithium batteries are the other factors anticipated to fuel the growth of the marine battery market.

Ask for PDF Brochure:

75–150 kW segment to register the highest CAGR from 2020 to 2025

By ship power, the 75–150 kW segment of the marine battery market is projected to register the highest CAGR during the forecast period. Medium-size passenger ferries are considered under ships having power between 75 and 150 kW. The need for a reduced or zero-emission transport system is high across countries. As per the International Maritime Organization’s MARPOL convention for the prevention of pollution from ships, the sulfur content present in the fuel of ships need to be reduced from 3.5% to 0.5% from January 2020. Countries such as JapanNew Zealand, and Australia are also moving toward using battery propelled fully electric ferries for passenger transport. Norway has incorporated fully electric and hybrid technologies in its ferries.

50–100 KM segment is projected to register the highest CAGR from 2020 to 2025

By ship range, the 50–100 KM segment is estimated to witness the highest CAGR during the forecast period. This segment includes inland container vessels, small cruise ships, fishing vessels, and research vessels. Yara’s (Norway) 120 TEU container ship, Yara Birkeland, can travel 56 km and is a fully electric ship. Another all-electric ship was constructed by Guangzhou Shipyard International Company Ltd. in December 2017. This ship can travel 80 km on a single charge. Operational and fuel cost savings are benefits offered by fully electric ships for operators, but the high capital expenditure and port side development are major challenges faced by ship manufacturers.

Browse in-depth TOC on “Marine Battery Market

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Europe marine battery market is projected to register the highest CAGR from 2020 to 2025

By region, Europe is expected to witness substantial growth in the marine battery market during the forecast period. International shipping is a large and growing source of greenhouse gas emissions. Thus, the European Union and the International Maritime Organization have come up with regulations on CO2 emissions and the presence of sulfur in fuel. Awareness about carbon emissions is leading shipowners and integrators to switch from traditional diesel-driven engines to battery propulsion systems. Domestic shipping in European countries has already been experimenting with battery-electric propulsion, and this trend is expected to continue.

The marine battery market has been gaining traction over the past few years due to the presence of several established companies as well as startups. Some of the major market players are Corvus Energy (Canada), Akasol AG (Germany), EST-Floattech (Netherlands), Siemens (Germany), Spear Power Systems (US), Echandia Marine (Sweden), Sterling PBES Energy Solutions (Canada), Furukawa Battery Solutions (Japan), Lithium Werks (Netherlands), Exide Technologies (US), Craftsman Marine (Netherlands), PowerTech Systems (France), Kokam Co. Ltd. (South Korea), Toshiba Corporation (Japan), XALT Energy (US), EverExceed Industrial Co. Ltd. (China), U.S. Battery (US), Lifeline Batteries (US), Saft (France), Forsee Power (France) and Leclanché (Switzerland).

Related Reports:

Electric Ships Market by Power Source (Fully Electric, Hybrid, Plug-In Hybrid), Autonomy (Manned electric ships, Remotely-operated, Fully Autonomous), Ship Type (Bulk Carrier, Gas Tanker, Tankers, Barge, Passenger Cruise, Aircraft Carrier, Amphibious, Destroyer, Frigate) and Region – Global Forecast to 2030

Autonomous Ships Market by Autonomy (Fully Autonomous, Remote Operations, Partial Automation), Ship Type (Commercial, Defense), End Use (Linefit, Retrofit), Solution (Systems, Software, Structures), and Region – Global Forecast to 2030

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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