Sign up for our daily Newsletter and stay up to date with all the latest news You are receiving this pop-up because this is the first time you are visiting our site You are using software which is blocking our advertisements (adblocker) we are relying on revenues from our banners So please disable your adblocker and reload the page to continue using this site.Thanks Vinga Group has signed an agreement with its existing client WA3RM for a long-term financing partnership The agreement covers the future financing of WA3RM's upcoming projects including two large-scale greenhouse initiatives in Scandinavia with a total financing framework of up to SEK 11.5 billion (US$1.04B) Navigo Invest's subsidiary Vinga will primarily act as the financing coordinator for a total of three new WA3RM projects The new financing agreement includes WA3RM's circular development projects in Östersund where plans involve building large greenhouses that utilize waste heat from nearby data centers for large-scale vegetable production The financing collaboration with Vinga is aimed at the construction phases of these projects CEO of WA3RM said: "We are very pleased to continue working with Vinga on financing solutions for our upcoming projects in Scandinavia Developing circular industrial projects is a complex team effort and we are delighted to have Vinga alongside us in this work." CEO of Vinga Group commented: "We are proud of the continued mandate to contribute financing to the company's projects This partnership marks a milestone in our efforts to provide Nordic growth companies with access to sustainable financing." The financing partnership agreement spans four years allowing Vinga to coordinate financing for the three projects All financing solutions are subject to Vinga's customary internal credit assessments with a significant portion of the project portfolio currently in very early phases subject to uncertainties such as building permit approvals and typical project risks For more information: Vinga Groupvingagroup.com/ WA3RMwa3rm.com FreshPublishers © 2005-2025 VerticalFarmDaily.com Informationen på denna sida är avsedd för journalister press och media.Klicka ja för att komma till nyhetsrummet Klickar du nej kommer du tillbaka till mynewsdesk.com The agreement covers the future financing of WA3RM’s upcoming projects with a total financing framework of up to SEK 11.5 billion Vinga Group (“Vinga”) will primarily act as the financing coordinator for a total of three new WA3RM projects Vinga previously participated in the financing of another WA3RM project which involved the construction of the largest greenhouse in the Nordics Vinga structured and distributed financing through green bonds and loans amounting to approximately SEK 610 million The new financing agreement includes WA3RM’s circular development projects in Östersund “We are very pleased to continue working with Vinga on financing solutions for our upcoming projects in Scandinavia and we are delighted to have Vinga alongside us in this work Their expertise and experience in supporting large-scale sustainable infrastructure investments are a perfect fit for us,” says Jacques Ejlerskov where reduced climate impact is combined with increased employment and self-sufficiency We are proud of the continued mandate to contribute financing to the company’s projects This partnership marks a milestone in our efforts to provide Nordic growth companies with access to sustainable financing,” says Tom Olander The financing partnership agreement spans a period of four years giving Vinga the opportunity to coordinate financing for the three projects All financing solutions are subject to Vinga’s customary internal credit assessments Vinga’s compensation is based on the successful execution of the above projects with the size of the compensation during the period dependent on the form in which financing is carried out About Vinga GroupVinga Group was founded in 2010 and offers a wide range of financial services within corporate finance Through international reach and placing power Vinga provides investors and growth companies access to the Nordic capital markets With over 200 transactions and SEK 20 billion in raised capital Vinga is a leading provider of bond financing for Nordic growth companies About WA3RMWA3RM is a global leader in developing circular operations on an industrial scale for recycling waste streams By utilizing waste heat from energy-intensive industrial production WA3RM has developed a circular model enabling profitable vegetable cultivation in colder climates Vegetable production in modern greenhouses using waste heat addresses many of the challenges in today’s global food production such as water scarcity and emissions from fossil fuel heating Tom Olander, CEO of Vinga Group+46 (0) 706 83 75 31to@vingagroup.com Regenergy Frövi AB utilizes industrial waste heat to produce vegetables in the largest greenhouse in the Nordics Vinga Group has structured and raised approx contributing to the construction and development of the landmark project Regenergy Frövi announced a EUR 89 million debt investment and refinancing from Goldman Sachs Alternatives Genom att använda spillvärme från ett närliggande pappersbruk banar projektet väg för hållbar livsmedelsproduktion i Sverige som är specialiserat inom cirkularitet och användning av industriella restströmmar Längs vägen har bolaget tagit hjälp av Vinga Corporate Finance vars finansieringslösningar spelat en viktig roll för att göra projektet möjligt När du väljer att skapa ett konto och följa ett nyhetsrum kommer dina personuppgifter behandlas av oss och av ägaren av nyhetsrummet för att du ska kunna motta nyheter och uppdateringar enligt dina bevakningsinställningar För att läsa mer om detta, var vänlig läs vår Integritetspolicy som berör vår behandling av dina personuppgifter, och Integritetspolicy för Contacts som berör behandlingen av dina personuppgifter från ägaren av nyhetsrummet du följer Vänligen notera att våra Användarvillkor gäller alla våra tjänster. Du kan dra tillbaka ditt samtycke när som helst genom att avregistrera dig eller genom att ta bort ditt konto. THE Zimbabwe Congress of Trade Unions (ZCTU) has criticised the country’s cartels and tendepreneurs for destroying the economy and leaving nothing for honest workers to survive on The remarks come on the back of reports of dirty dealings involving embezzlement of funds running into billions of dollars through shady contracts by highly connected individuals in the country A latest survey conducted by the Zimbabwe National Chamber of Commerce (ZNCC) established that the country’s public tender system has been taken over by cartels of government suppliers who have diverted substantial funds into the pockets of individuals controlling lucrative State contracts The business lobby group estimates that the fiscus is prejudiced between US$1,2 billion and US$1,5 billion in lost financial resources due to corruption or outright inefficient use of tax resources In her keynote address to commemorate the Workers Day event at Dzivarasekwa Stadium ZCTU President Florence Taruvinga said endemic corruption has become a threat to the normal functioning of the state and you can imagine what it could do to our hospitals The government has the duty to act swiftly but it seems its hands are tied as some of its officials are part of the looting It is either the government is sleeping on duty or its officials are benefiting from the malice as the nation is on its knees due to institutionalised greed and looting “Cartels and tenderpreneurs are enjoying impunity and have captured the state siphoning millions of dollars from state coffers while delivering very little,” she said She said labour will continue to call for more investigations into corruption allegations until the house is in order with workers and pensioners able to get reasonable benefits arguing the ZCTU cannot keep quiet when individuals are flaunting ill-got wealth dishing out millions in gifts and presents when the country’s health system is in intensive care The ZCTU leader said Zimbabwe has become one of the most unequal societies in the world where the rich are becoming richer while the poor are getting poorer “Social justice entails a fair and equitable distribution of resources and opportunities in society ensuring that everyone has their human rights upheld and can participate in decision-making that affects them It involves recognising and addressing systemic inequalities that disadvantage certain groups New Zimbabwe.com Tweets by NewZimbabweCom NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd The platform brings you the latest breaking News Diaspora and gives you everything you’ve come to expect and love Our Forums are vibrant and gives everyone a chance to be heard tablet smart phone or on our App its quick easy and free access all the news you love NewZimbabwe.com is updated continually with the latest news to help you feed your addiction with stories & photos from Zimbabwe and many more France and Jersey launched on Friday 28 March 2025 The route provides a lifeline freight service to the largest of the Channel Islands and a passenger service that will help attract visitors to Jersey More than 235,000 passengers visited Jersey by sea in 2023 and the ferry company hopes to give tourism to the island a boost by offering a reliable The first ship to operate on the new service left Portsmouth at 09.00 today. Stena Vinga can carry up to 400 passengers and will make the round-trip to Jersey once a day The company will also operate its first sailing between Saint Malo in France and the island with one sailing per day on the service initially Services between Poole and Jersey will start on 17 April 2025 with a regular daily return at peak times The route will be operated by Levante Jet a high-speed ferry which can carry up to 675 passengers DFDS was selected as the preferred bidder to provide ferry services to Jersey as part of a competitive tender carried out in 2024 and culminating in the award of the contract last December It will provide freight and passenger services connecting the island with the UK and France over the next 20 years The company has recruited more than 50 local people to help run its services and the two fast ferries serving the route have been re-flagged to the UK ship register with plans for new apprenticeships and cadetships on the route in future years said: “We’ve worked hard in the three months since the Jersey contract was awarded to prepare for the launch of these new services recruiting local people and setting up our operations on the island We know how important it is that we are based on the island listening to local people and responding to feedback as we build the future of these routes We are committed to running an effective lifeline service for islanders and working hard with local partners to encourage tourism to the island “We have a long-term investment strategy that will ensure that in partnership with the local government and the people of Jersey we continue to develop the routes for many years to come by investing in new ships and optimising our schedules We look forward to building a strong partnership with Jersey and serving the community.” Ships monthly is published every month and has a cover price of £4.99 Regenergy Frövi AB utilizes industrial waste heat and green electricity to produce vegetables in the largest greenhouse in the Nordics SEK 600 million in green bond financing and direct lending for Regenergy Frövi the production will account for one in every five tomatoes consumed in Sweden Regenergy Frövi repurposes industrial waste heat from a nearby paper mill to produce vegetables year-round in a groundbreaking 100,000 m² greenhouse the first batch of locally produced tomatoes was harvested and distributed to ICA and Coop supermarkets across Sweden representing a key milestone and proof of concept for the company SEK 600 million in green bond financing and direct lending for the Regenergy Frövi project The bond issue has generated significant market interest demonstrating the project's relevance and timeliness in the context of combating climate change and the increasing need for self-sufficiency The announced EUR 89 million investment from Goldman Sachs Alternatives secures long-term financing for Regenergy Frövi and will fund the construction of a second greenhouse of similar size "Regenergy Frövi represents an exciting new chapter in Swedish industrial history We are proud to have advised the company and to have structured sustainable financing that has proven crucial to the project's realization from a highly sophisticated investor such as Goldman Sachs Alternatives is a testament to the quality of the project and the transformative business model” “The green bond issue for Regenergy Frövi was well received by the market and has generated competitive investor returns This project is a prime example of an innovative business model that simultaneously generates sustainable food local jobs and increased self-sufficiency on a national level Industrial-scale circularity is here to stay and we look forward to helping realize similar projects in the future” "The project in Frövi is only the beginning of what we strongly believe will change how future industrial development is designed and financed We are disrupting the traditional approach with linear concepts by putting unused resources to the best possible use About Goldman Sachs AlternativesGoldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally with over $500 billion in assets and more than 30 years of experience The business invests in the full spectrum of alternatives including private equity Clients access these solutions through direct strategies The business is driven by a focus on partnership and shared success with its clients seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets About Vinga GroupVinga Group offers a wide range of financial services within corporate finance Vinga provides investors and growth companies with access to the Nordic capital markets Johan Bergström, Head of DCM, Vinga Corporate Finance+46 (0) 720 80 30 03jb@vingacorp.se FoodVentures harvested the first batch of locally produced tomatoes distributed to ICA Gruppen stores across Sweden Regenergy Frövi AB (“RFAB”) initiated a bond issue of up to EUR 70 million to finance development of the company’s greenhouse project the development company WA3RM has developed and now published its inaugural Green Bond Framework a global company in assurance and risk management the project owner of a large-scale development of an innovative greenhouse facility successfully closed a EUR 25 million secured fixed-rate corporate bond This transaction is a partial closing of the Issuer's framework of up to EUR 70 million and the capital raising will continue with several tap issues.The bond issue was well received by the market WA3RM bygger ett storskaligt växthus om 217 000 kvadratmeter och blir Sveriges största tomatproducent Anläggningen kommer att värmas med lågtempererad spillvärme från Billeruds pappersbruk i Rockhammar/Frövi Vänligen notera att våra Användarvillkor gäller alla våra tjänster Du kan dra tillbaka ditt samtycke när som helst genom att avregistrera dig eller genom att ta bort ditt konto Swedish shipping company Furetank and its Canadian counterpart Algoma Central Corporation have welcomed the launching of the first vessel intended for their joint venture FureBear.  is the ninth sister ship in the Vinga class and the ship was officially launched at China Merchants Jinling Shipyard in Yangzhou The next milestone on the horizon is Fure Vanguard’s sea trial scheduled for early January where the ship’s seaworthiness will be put to the test Swedish Furetank AB and Canadian Algoma Central Corporation formed a joint venture agreement to build four dual-fuel product tankers intended to trade in Northern Europe in August 2022 The four ships are expected for delivery between 2023 and 2025 all four vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg The four 17,999 DWT ice-class 1A product tankers have been designed in collaboration with FKAB Marine Design and they have a dual-fuel capacity with the ability to operate on LNG/LBG or gasoil These vessels are similar to the Vinga Series a group of eight ships currently operated by the Gothia Tanker Alliance The FureBear tankers feature a battery hybrid system and various fuel and energy efficiency measures These design elements result in reduced emissions of CO2 The vessels are also equipped for shore power usage In November 2022, FureBear joint venture expanded the orderbook to include a total of eight dual-fuel product tankers to trade in Northern Europe, and last month the partnership booked the construction of two additional Vinga-class vessels. The latest order for Vinga series vessels grows the FureBear joint venture to a total of ten ships under construction, with the first vessel slated for delivery in the first quarter of 2024. Daily news and in-depth stories in your inbox The Pioneers of Offshore Engineering GustoMSC, part of NOV’s Marine and Construction business, is recognized for providing advanced design & engineering consultancy for mobile offshore units and reliable equipment. In close cooperation with our customers, we translate experience, science, and technical knowledge into realistic & innovative ideas. The performance of new and existing jack-ups, vessels […] OPPOSITION politician Nelson Chamisa has bemoaned the meagre salaries given to university lecturers vowing to prioritise workers’ issues once he takes charge University of Zimbabwe (UZ) lecturers have downed tools demanding a decent salary A junior lecturer is taking home as little as $230 a month which is not enough to cater for basic needs Poor remuneration is not only in the lecturers fraternity as many of the country’s professionals are earning not more than US$300 per month In a statement to officially mark the 2025 Workers Day commemorations Chamisa described Zimbabwe as a country without work for many and hailed the country’s citizens for their resilience Many workers are earning extremely low wages basically putting them in the poverty bracket Workers in general are without a decent living wage “Many workers have lost their pensions and face a difficult retirement future He added that due to high unemployment and lack of government protection many workers are stripped of their rights and freedoms pushing many into survivalist informal employment without social security has driven many professionals to seek better opportunities outside the country will focus on restoring the dignity of workers and the strengthening of genuine social dialogue as a means of addressing the multiple problems that workers are facing “We will prioritise rebuilding the economy and public services in order to create employment opportunities for the many unemployed young Zimbabweans We will end casualisation of jobs and stop job losses and retrenchments Labour laws and practices shall be reformed in order to strengthen protection of freedom of association expression and collective bargaining,” added Chamisa Read the Patriam press release here Nordic financial services provider Vinga Group has set up an operation in Geneva to further grow its institutional client base and expand the company’s presence in continental Europe The new Geneva establishment will offer room for future growth as well as improved access to international capital within multiple core products and businesses for the company The office itself is conveniently located in the city center The Geneva office is established through the subsidiary Vinga Securities AG Specializing in the Nordic high yield space Vinga Securities offers investment advisory across asset classes including private fixed income and equity investments The new premises will serve as a hub for further development of Vinga’s European client base focusing on distribution of the company’s primary market and asset management offerings Heading Vinga’s Swiss operations is Sebastien Khlat-Muller Khlat-Muller has been with Vinga Group since 2019 and has 20+ years of international investment banking experience including ten years within Société Générale Corporate Investment Banking (SGCIB) in various roles advising institutional investors in Switzerland and Emerging Markets “Geneva has a long history as one of the world’s key financial centers The city has more than 250 banks and thousands of independent asset managers constituting a wide source of potential clients for Vinga Local presence in Geneva will greatly aid our efforts to provide institutional investors with unique access to the Nordic private markets” “Establishing Vinga in one of Europe’s premier financial regions plays a strategic role in our international growth strategy while ensuring a growing institutional investor network for our issuer clients going forward” For more information, contact:Tom Olander, Vinga Group CEO and FounderPhone: +46 (0) 706 83 75 31Email: to@vingagroup.com A great start to 2025 for Vinga Corporate Bond – The fund is now #1 YTD on Morningstar in its peer group of 107 funds! This is a continuation of the strong 2024 performance, where the fund ranked in the top 3 on Morningstar and #1 on Citywire.vingacorporatebond.se/enPlease note that historical returns are no guarantee of future returns Money invested in the fund may increase or decrease in value and there is no guarantee that you will be repaid all of your invested capital The information on this page is intended for journalists If you click NO you will come back to Mynewsdesk.com a subsidiary of JOOL Group holding Navigo Invest has signed an agreement with its existing client WA3RM for a long-term financing partnership Navigo Invest’s subsidiary Vinga Group (“Vinga”) will primarily act as the financing coordinator for a total of three new WA3RM projects Navigo is an investment company specializing in investments in small and medium-sized unlisted companies Navigo's common shares are listed on Nasdaq First North Premier Growth Market Stockholm under the ticker NAVIGO STAM while its preference shares are listed under the ticker NAVIGO PREF Carnegie Investment Bank AB (publ) serves as Navigo’s Certified Adviser For more information, please visit www.navigoinvest.com The JOOL Group is a family owned corporate group With our main activities in the financial services our passion is entrepreneurship – both our own and that of others Our philosophy is to be active and long term owners developing businesses through a combination of entrepreneurial spirit and common sense When you choose to create a user account and follow a newsroom your personal data will be used by us and the owner of the newsroom for you to receive news and updates according to your subscription settings To learn more about this, please read our Privacy Policy, which applies to our use of your personal data, and our Privacy Policy for Contacts which applies to the use of your personal data by the owner of the newsroom you follow Please note that our Terms of Use apply to all use of our services You can withdraw your consent at any time by unsubscribing or deleting your account Swedish shipping company Furetank and its Canadian counterpart Algoma Central Corporation have expanded their FureBear joint venture with the order for two additional Vinga-class vessels The new order for Vinga series vessels grows the FureBear joint venture to a total of ten ships under construction with the first vessel slated for delivery in the first quarter of 2024 The two ships will be constructed at China Merchants Jinling Shipyard in Yangzhou with delivery expected in the second and third quarters of 2026 The two new orders bring the Vinga vessel series to a total of 19 ships Construction on the first FureBear vessel is on schedule for its 2024 delivery The Vinga ships are ice class 1A 17,999 dwt product tankers designed by Furetank together with FKAB Marine Design They all have dual-fuel capability and can run on LNG/LBG or gasoil and are fully equipped for shore power They are designed with a battery hybrid solution and several innovative features that reduce fuel and energy consumption resulting in extensively lower emissions of CO2 All ten FureBear vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg They are intended to trade in Northern Europe Several trends in the market have fueled the companies’ decision to extend their fast-growing joint venture “We see the upcoming phasing out of older tonnage in the market far exceeding the amount of newbuildings underway no other vessels have been introduced that exceed their environmental performance while continuously developing and refining the emission-saving technology on board,” says Lars Höglund The fleet capacity increase is being driven by the desire to expand into new markets and meet the growing demand for the transportation of biofuels and renewable feedstocks in Europe intermediate-size tankers designed for efficient cargo handling and tank preparation the order bodes well with the growing demand from customers for environmentally friendly transport solutions to complement their decarbonization strategies across the entire supply chain “The closer we get to the delivery of our first FureBear newbuild the more confident we are that our JV with Furetank will yield superior long-term results We see a need for more Vinga tankers to ensure that we can support customer demand into the coming years and even decades and with a best-in-class environmentally friendly design that will stand the test of time,” says Gregg Ruhl President and CEO of Algoma Central Corporation The first generation of Vinga vessels entered the market in 2018 and according to Höglund the vessels have been very well received in the market and proven to function far beyond the company’s expectations “The first ship has been operating for five years the main engine running for 25,000 hours and not missing a single day in service because of technical issues it is amazing to have found a business partner like Algoma who wants to join forces and continue this journey with us,” says Höglund “Our aspiration is to grow FureBear only as large as it needs to be to meet the market demand of our customers This is not an asset play; it is a customer service play which has always been at the heart of what we do at Algoma and now with our partners,” Ruhl concludes The Pioneers of Offshore Engineering GustoMSC part of NOV’s Marine and Construction business is recognized for providing advanced design & engineering consultancy for mobile offshore units and reliable equipment and technical knowledge into realistic & innovative ideas The performance of new and existing jack-ups and high-profile adventurers have been seen riding them and now Awake electric jetboards and eFoils have landed in Australia The first shipment has already sold out before launch driven purely by word-of-mouth interest and private demonstrations European-built electric watercraft provide a thrilling and low-maintenance alternative to traditional personal watercraft—offering high-speed excitement without the need for waves providing a plug-and-play experience that appeals to yacht owners Awake unveiled their latest innovation—the RÄVIK Explore This new model is designed as an easy-to-access entry point into the Awake jetboard range catering to those looking for their first experience with electric jetboarding Awake describes the RÄVIK Explore as a board that anyone can confidently ride on their first attempt lowering the barrier to entry and making electric jet boarding more accessible than ever At the heart of the Awake Jetboard lineup is the RÄVIK series which has become the global benchmark for electric-powered jetboarding The RÄVIK 3 is built for stability and accessibility making it ideal for beginners and casual riders The RÄVIK S offers sharper handling and high-speed carving delivering an experience tailored to performance riders a collaboration with renowned automotive tuning brand Brabus brings aggressive styling and elite performance to the world of electric jetboarding For those looking for a completely different riding experience the Vinga eFoils introduce hydrofoil technology allowing riders to glide effortlessly above the water’s surface The Vinga 3 serves as the ideal entry point for new foilers while the Vinga S is designed for those seeking a more dynamic and responsive eFoil experience Both models feature a screw-free modular design allowing for quick assembly and compact storage the Flex Battery System stands out as a game-changer This cross-compatible power source allows users to swap batteries seamlessly between jetboards and eFoils reducing downtime and maximising time on the water Awake offers a hassle-free alternative to traditional personal watercraft without compromising on speed The partnership between Awake and Carbon Yachts was first established in October 2024 both companies took time to understand the product’s placement within the market and its full potential before launching reflected on this:“We didn’t want to just push a product out quickly; we wanted to fully understand what makes Awake boards special and ensure we were ready to deliver the right experience to customers The fact that our first shipment sold out before we even officially launched proves how strong the demand already is.” added:“Our relationship with Carbon Yachts has been building steadily Their deep knowledge of the luxury marine sector combined with their forward-thinking approach to future-proof watercraft makes them the perfect partner for Awake in Australia We’re excited to see Awake’s reach grow through this collaboration.” Awake boards were featured in an exciting new TV program set to air in late 2025 further cementing their reputation as the must-have electric watercraft of the future featuring Big Wave surfing champions and Gold Logie-winning TV stars captured the exhilaration of riding an Awake jet board giving audiences a first-hand look at what makes these boards so unique Carbon Yachts is also officially launching Tenders & Toys by Carbon Yachts a specialist sub-brand dedicated to premium the world’s most advanced carbon-fibre luxury tenders offering a curated selection of cutting-edge products for yacht owners and water sports enthusiasts Following the sell-out success of the first shipment the next delivery of Awake boards is due to arrive in late February Those looking to secure one of the world’s most advanced electric watercraft are encouraged to act quickly before the next batch is sold out again broader demonstration opportunities will become available later in 2025 through Carbon Yachts Awake Boards at: carbonyachts.com.au/awake Tenders & Toys by Carbon Yachts: carbonyachts.com.au/tenders-toys Everything Electric Sydney: carbonyachts.com.au/everything-electric-show Sanctuary Cove Boat Show: carbonyachts.com.au/sanctuary-cove-international-boat-show Interested in seeing more Boat & Gear News? plus all the latest on yachting regattas and offshore adventures around the world The port tests come just a week before the Danish ferry firm replaces Condor Ferries on 28 March which will operate the passenger and freight route to Portsmouth says these berthing trials are an essential part of ensuring that the Stena Vinga can dock safely and efficiently in Elizabeth Harbour "The trial will also allow the crew to become familiar with the harbour's layout and operations "We have been working closely with DFDS to mobilise the new service and I’m looking forward to seeing it in operation." The Stena Vinga is due into Elizabeth Harbour at around 08:30 am on Tuesday This milestone is a significant proof of concept and a reminder that industrial-scale circularity is doable and 100% ready to deliver impact today Vinga Corporate Finance has structured EUR 70 million of financing to realize the project for giving us the opportunity to contribute to Swedish industrial history a solemn opening ceremony on September 6 will be held at the facility in Frövi will participate together with the Governor of Örebro County please contactJohan BergströmVice president Vinga Corporate Finance+46 720 80 30 03jb@vingacorp.se Seeing the now-finished greenhouse where tomato plants have been installed is inspiring Vinga Group congratulates WA3RM and Regenergy Frövi on achieving this important milestone and looks forward to the first harvest The March 5th issue of Dagens Industri (Sweden’s leading business publication) includes an in-depth story on WA3RM AB and Regenergy Frövi as well as the financing structured by Vinga Corporate Finance The piece highlights how the company utilizes waste heat and renewable electricity to produce 8 000 tonnes of locally grown tomatoes Regenergy Frövi contributes to increased self- suf NMBZ Holdings Limited says it suffered a ZWG348 million loss early this year when it converted the ZW$ into the new currency The ZWG was incepted on April 5 2024 as the country’s first ever Structured Currency backed by a host of mineral reserves and a pool of foreign currency which served as shock absorbers But presenting the group’s performance for the half-year period ended June 30 2024 Pearson Gowero said the conversion from the ZWL to the new currencyZWG left the institution counting its losses He said to comply with the International Financial Reporting Standards specifically IAS 29 “Financial Reporting in Hyperinflationary Economies” and IAS 21 “The Effects of Changes in Foreign Exchange Rates” the Group had to restate prior year comparatives to 05 April 2024 using the inflation index based on the Total Consumption Poverty Line (TCPL) statistics as detailed in the accounting policies section “The Group recognized monetary losses as a result of this process which amounted to ZWG 348 million These monetary losses arose as a result of the restatement of opening ZWL balances as per IAS 29 guidelines before subsequent conversion to ZWG as further explained in note 6,” said Gowero the new ZWG currency showed signs of stability with the economy gravitating from the hyper-inflationary state This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page The Danish company says RoPax vessel 'Stena Vinga' will operate between Jersey and Portsmouth carrying both freight and passengers.  It can hold up to 400 passengers and 200 cars compared to the Commodore Clipper's 300 passengers and 100 cars cinema and designated recliner lounge.  Stena Vinga will run five rotations per week in peak season with evening departures from Jersey and morning departures from Portsmouth.  The company plan to deploy the 125 metre long ship from 28 March 2025 after it takes over from Condor Ferries as the island's operator “We are pleased to introduce Stena Vinga to our Jersey fleet With this vessel we will be able to service both passengers and businesses who rely on freight transport and enable us to provide an efficient and reliable service and we look forward to welcoming passengers aboard and providing them with a comfortable travel experience and meeting the diverse needs of the island." Built in 2005 by the Dutch shipyard Merwede the Stena Vinga was originally known as the MS Hammerodde A sister vessel was constructed at the same time it is probably better known by its current name - the Condor Islander Cote des Dunes (left) and Sirena Seaways (right) This is the only vessel that has been confirmed so far by DFDS that will serve Jersey from March next year though two high-speed boats have been promised as well as another RoRo vessel in peak season.  DFDS said that a ferry timetable for Jersey will be released by the end of this week.  This is also the new deadline for when the Government of Jersey and the Danish ferry company will complete their contract signing formalising DFDS as the island's ferry operator for the next 15 years.  The company was announced as the chosen ferry company on 3 December Poole and St Malo have been promised in the new timetable.  Swedish shipping company Furetank aims to have its entire fleet renewed and environmentally friendly as it ordered two more dual-fuel Vinga product tankers in China The two ships will be constructed at the China Merchants Jinling Shipyard in Yangzhou with delivery expected at the end of 2026 and beginning of 2027 Furetank’s fleet will consist entirely of environmentally proven top standard vessels with an average age of two years The vessels are number 20 and 21 in the Vinga series of intermediate size product tankers and will be fully owned by Furetank Rederi AB meaning that all vessels in the Furetank fleet will be of the emission-saving Vinga design The Vinga series has been rapidly expanded in the last few years since the ships have been very well received in the market The technology has proven to be robust and efficient “We are very happy to reach this point on our journey operating only ships with the latest emission-saving technology the average age of our fleet will be less than two years Since the introduction of the Vinga series in 2018 Furetank has developed into a substantially larger shipping company with our focus set on environmental progress It has been an amazing journey,” Lars Höglund The green technology on board is developed and refined with the construction of each new vessel The latest addition is two methane slip reducing technologies a greenhouse gas (GHG) reduction package and low load optimization package They will be implemented in all upcoming vessels and retrofitted into existing Vinga ships Tests performed both in the factory and on board show a methane slip reduction of an impressive 45-50 per cent The Vinga series is designed for the intense and demanding trade in the North Sea and Scandinavia well suited to meet the growing European demand for biofuels and renewable feedstocks “Our customers are becoming more environmentally conscious and placing greater importance on reducing the climate footprint of their entire supply chain With a large fleet of energy efficient vessels we can offer better service to customers and optimize the fleet trading pattern reducing our climate impact even further,” explained Lars Höglund The newbuilds will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg, flying the Swedish flag. This brings the Vinga vessel series to a total of 21 ships, out of which 19 will be commercially managed and 14 fully operated by Furetank. The Vinga ships are ice class 1A 17,999 dwt product tankers designed by Furetank together with FKAB Marine Design. They all have dual-fuel capability, run on LNG/LBG or gasoil and are fully equipped for shore power. They are designed with a battery hybrid solution and several innovative features that reduce fuel and energy consumption, resulting in extensively lowered emissions of CO2, sulphur oxide, nitrogen oxide and hazardous particles. The ships have scored the best Energy Efficiency Design Index or EEDI value in their segment globally, meaning that they are the most energy-efficient vessels according to the International Maritime Organization (IMO). Nine employees lost their lives out of the 4 334 workplace accidents recorded within the first four months of the year on the back of calls for the enactment of water-tight legislation to ease the tide The stats were released by the Zimbabwe Congress of Trade Unions (ZCTU) at an event held to commemorate the belated June 6 disaster which saw 427 miners losing their lives in 1972 as a result of a methane gas explosion in Hwange Kamandama mine shaft number 2 This remains the worst workplace accident to date in this country hence it serves as a sad reminder of the importance of Occupational Safety and Health “Zimbabwean workers are concerned about the current statistics in occupational Safety and Health the country recorded more than 4334 reported workplace accidents annually Statistics for January to April 2024 indicate 846 injuries and 9 fatalities across sectors “The mining and quarrying sector recorded 93 injuries while the Personal Services sector topped with 146 injuries The figures are not impressive at all but we are cognizant of the fact that these statistics are not comprehensive as some accidents go unreported while accidents obtained within the informal economy generally go unnoticed,” she said Taruvinga said given the circumstances at hand the passing of the harmonised Occupational Safety and Health  Bill into law is the only way out to plug the violations happening particularly in the mining industry living in terrible substandard accommodation while being provided with substandard unhealthy food rations So the passing of the OSH bill would be a milestone achievement towards reduction of workplace accidents fostering compliance from truant employers and restoration of workers’ wellness and dignity,” said ZCTU president Florence Taruvinga NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love. Our Forums are vibrant and gives everyone a chance to be heard. On your computer, tablet smart phone or on our App its quick, easy and free access all the news you love. NewZimbabwe.com is updated continually with the latest news to help you feed your addiction with stories & photos from Zimbabwe and many more! CBZ Holdings Limited (CBHL) has conceded to the decision taken by the Competition and Tariffs Commission (CTC) but said it remains undeterred to penetrate the regional markets before 2025 year-end CBZHL informed shareholders of the decision to withdraw its proposed mandatory offer to minority shareholders of First Mutual Holdings Limited (FMHL) after the Competition and Tariff Commission (CTC) capped its stake in the insurer at 31.22% The move was inspired by regulatory efforts to maintain market competition and prevent over-consolidation in Zimbabwe’s financial and insurance sectors was triggered by CBZHL’s substantial shareholding in FMHL in line with Zimbabwe Stock Exchange Listings Requirements and the Companies and Other Business Entities Act rejected any further acquisition of FMHL shares by CBZHL Speaking to NewZimbabwe.com on the sidelines of the institution’s Media Cocktail event held Wednesday evening Lawrence Nyazema downplayed speculation that CTC’s decision had crippled plans to penetrate the regional market He said the CTC decision was well noted and respected duly but would not at all frustrate regional market penetration plans “Yes we would have wanted to go into the region faster and easier through FMHL but we still believe we can go into the region pretty fast Our target is to be operating in two regional countries by June 30 2025 “Right now my feeling is that we are likely to get into the international markets much faster and quicker using some of our subsidiaries outside the bank because going the route of the bank establishment in a foreign land tends to be over-regulated in a lot of countries and the capital requirements for setting up a bank tend to be higher,” he said Nyazema said CBZHL must not be viewed as just a bank but a group with subsidiaries which can be seized to perform regional tasks “So we have businesses that are capital lite which have done so well locally You look at our Asset Management which trades as Datvest What will stop us from taking this company to another region and using its success story achieved in Zimbabwe?” He expressed optimism that by June 30 2025 will be present in two countries in the region Furetank and Algoma Central Corporation announced further expansion of their FureBear joint venture with orders for two additional vessels with delivery expected in second and third quarters of 2026 The new order for Vinga series vessels grows the FureBear joint venture to a total of 10 intermediate product tankers under construction All 10 vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg for the transportation of biofuels in Northern Europe "We see the upcoming phasing out of older tonnage in the market far exceeding the amount of newbuildings underway while continuously developing and refining the emission-saving technology on board," said Lars Höglund The JV partners said they see growing demand for biofuels and renewable feedstocks in the European trade intermediate size tankers designed for efficient cargo handling and tank preparation "Customers are becoming more environmentally conscious and placing greater importance on reducing the climate footprint of their entire supply chain including transportation," the companies said president and CEO of Algoma Central Corporation "The closer we get to the delivery of our first FureBear newbuild and with a best-in-class environmentally friendly design that will stand the test of time." The Vinga ships are ice class 1A 17,999 DWT product tankers designed by Furetank together with FKAB Marine Design run on LNG/LBG or gasoil and are fully equipped for shore power The ships have scored the best Energy Efficiency Design Index or EEDI value in their segment globally meaning that they are the most energy efficient vessels according to the International Maritime Organization (IMO) with the first generation of Vinga vessel entering the market in 2018 "The vessels in service have been very well received in our market and have proven to function far beyond our expectations The first ship has been operating for five years and continue this journey with us," Höglund said "Our aspiration is to grow FureBear only as large as it needs to be to meet the market demand of our customers which has always been at the heart of what we do at Algoma and now with our partners," Ruhl added Vard has secured a new contract with Taiwanese-based Dong Fang Offshore (DFO) for the design and construction of one Commissioning… The offshore rig market recovery appears to have taken a pause with demand tapering off and marketed utilization hitting… Fast-growing energy demand is driving the need for technical support and guidance in new locations a 170-year-old French family-owned company operating across a broad swath of maritime and offshore energy… we excel in creating stunning illuminated yacht names and logos and cutting-edge LED and fiber optic solutions has evolved into a global marine propulsion leader with a presence in over 100 countries and more than 300 service points worldwide Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service delivered to your Email five times per week The FureBear joint venture will double its fleet to include four more dual-fuel product tankers  Swedish company Furetank AB and Canada-based Algoma Central Corp launched their FureBear joint venture this August operating four dual-fuel ice-class 1A 17,999-dwt product tankers The addition of four new 17,999 dwt tankers brings the total investment to eight vessels Furetank placed the order for two of the four new ships in September and two are now placed as new orders All four Vinga-class vessels will be built by China Merchants Jinling Shipyard in Yangzhou Designed in co-operation with FKAB Marine Design all Vinga vessels feature dual-fuel capability These vessels are designed with a battery-hybrid system to reduce fuel and energy consumption Furetank said the Vinga-class ships have chalked up the best Energy Efficiency Design Index (EEDI) value in their segment globally Algoma president and chief executive Gregg Ruhl said we set out to find sustainable areas to grow our business and deploy capital in the highest and best uses This investment enables us to further diversify Algoma’s asset base and geographic trading zones in a segment we know well with partners that share our values.” all eight vessels will be entered into the Gothia Tanker Alliance and will be operated by Furetank out of Gothenburg Riviera Maritime Media has a comprehensive conference programme for the rest of 2022 and will provide free technical and operational webinars in 2023. Sign up to attend on our events page a 17,997 dwt chemical tanker flying under the Swedish flag has been granted a complete suite of smart ship class notations by classification society Bureau Veritas (BV) The chemical tanker with an overall length of 150 meters built back in 2020 by China Merchants Jinling Shipyard (Yangzhou) Dingheng is a part of Swedish Gothia Tanker Alliance fleet Fure Vinga has been equipped with smart systems for monitoring the ship’s hull condition (H) as well as integrated machinery (M) and navigation (N) systems It is said to be in compliance with all tier 1 requirements included in the Rule Note Additional Service Feature SMART (NR675) issued in January 2021 “Furetank have achieved this across the key systems of FURE VINGA and therefore the ship has become the first BV classed ship to be assigned the full suite of smart notations,” Gijsbert de Jong Marine Chief Executive for Bureau Veritas’ Nordic region the ship has optimized hull lines and is fitted with a ducted propeller as well as being equipped with a dual fuel engine capable of burning both liquid natural gas (LNG) and liquid bio-gas (LBG) A UPS battery pack for hybrid operation lowers fuel consumption and prevents blackouts The tanker also has a high level of digitalization and integration of onboard systems and equipment Computer-based systems incorporating smart functions for the collection analysis and visualisation support the crew with informed decision-making to enhance safety and optimize operations and maintenance “As the maritime industry continues its digital transformation journey improving safety and minimizing operational risk using smart technology for monitoring and decision support makes a lot of sense Furetank have achieved this across the key systems of Fure Vinga and therefore the ship has become the first BV classed ship to be assigned the full suite of smart notations,” Gijsbert de Jong “Our new generation of intermediate sized oil and chemical tankers get us to the next level in terms of on-board system integration We are happy to work with Bureau Veritas as they support innovative solutions with relevant classification notations and technical requirements which set new standards in our industry,” Lars Höglund In the past, the original Fure Vinga had been sold to the Quebec-based Desgagnés The new vessel with the smart-ship characteristics is a part of six sister vessels Swedish operator Furetank has ordered a new dual-fuel tanker in its Vinga series of product tankers running on LNG and liquid biogas (LBG) The 17,999-dwt vessel will be built by China Merchants Jinling Shipyard in Yangzhou, for delivery in 2024. The ship is the 11th and latest ship in a series of sister vessels designed with a focus on minimum environmental impact Furetank owns four of the vessels already delivered and operates all of them commercially In addition to their dual-fuel capacity, the Vinga vessels are designed with a battery-hybrid system and innovative features to reduce fuel and energy consumption The new ship will be fully equipped to operate cargo pumps with 6.6-kV high-voltage shore power to reduce emissions even further as soon as ports offer the opportunity It has a cargo capacity of 20,306 m3 in 12 epoxy-coated cargo tanks ice-class 1A and an efficient cargo-handling system The ship also features a flexible cargo pump and line arrangement ensuring safe and efficient cargo operations with reduced port turnaround time “We are very pleased to add the 11th vessel to our climate-friendly Vinga series Furetank’s ambition is to be the leading actor within the segment offering our customers efficient and environmental friendly transport we can offer a good service and at the same time optimise the trading pattern to increase utilisation of the vessels” said Furetank chief executive Lars Höglund The agreement with the shipyard includes an option for further vessels Earlier this year, Furetank was granted a green credit guarantee by the Swedish Export Credit Agency for financing a tanker that met ‘superior environmental and climate standards’ The green credit guarantee is granted based on the EU taxonomy an assessment tool that will guide international capital towards ‘green’ investments Tanker Shipping & Trade Webinar Week will be held from 13 September 2022. Register your interest and access more information here Swedish shipowner Furetank has been granted state and EU climate investment support for installing shore power connection on Vinga tanker which supports local climate investments that reduce greenhouse gas emissions “This grant is a very positive response to our environmental efforts it confirms that we are doing the right thing We have chosen to install a very powerful 6.6 kV high voltage shore power capability which even supports the cargo pumps during unloading They consume a lot of energy which can now be provided through the electrical grid instead of ship generators This eliminates all harmful emissions while in port close to densely populated areas,” said The shore power connection on the vessels will be designed to fit the land-based connection planned in the Port of Gothenburg which has also received funding from Klimatklivet The vessel in question is currently being built at China Merchants Jinling Shipyard in China When delivered in the first quarter of 2024 it will become number nine in the Vinga vessel series designed by Furetank and partners “Furetank has made large investments in developing tankers to become the globally most environmentally efficient vessels of their size with Klimatklivet funding half of the cost will improve the environmental performance even further,” the company noted as emissions in port can account for up to 20% of the total emissions from a tanker in an environment that is often even more sensitive to pollution and noise than at sea If ports offer electricity of sufficient capacity stemming from green and clean sources the climate investment has the potential to reduce CO2 emissions by approximately 600 tons annually The calculations were made by Furetank based on emissions in port from Vinga vessel Fure Ven during 2021 Another positive effect is an improved working environment on board as noise and vibrations are significantly reduced Swedish shipowner recently ordered two more dual-fuel tankers at the same shipyard The 17,999 dwt tankers are set for delivery in fall 2024 and spring 2025 The Vinga vessels have the dual-fuel capability and run on LNG/LBG. They are designed with a battery hybrid solution and several fuel-saving features, resulting in lower emissions. The Vinga series has now reached 15 vessels altogether.  THE ZWG currency’s woes seem to be far from easing as retailers are still insisting on a three-tier pricing system Using the pricing strategy local retailers offer three different pricing choices for the same product Introduced on April 5 2024 as the country’s lasting solution to currency problems the local unit fared well during the first four months before waning significantly before the end of its six-month lifespan following the widening of parallel market rates which went up to a high of US$1: ZWG 30 on the alternative markets as compared to the premium of ZWG13 the Central Bank intervened and approved a raft of measures which among others included devaluing the local unit by 43% and hiking interest rates to curb speculative borrowing While the levels of exchange rate volatility have eased off after the measures were announced a visit by the NewZimbabwe.com news crew to several outlets across Harare’s Central Business District revealed that challenges associated with the local unit are quietly persisting Retailers are still demanding exclusive US$ prices for specific products while holding on to a three-tier pricing strategy depending on the method of payment Colgate Maxfresh is sold exclusively in US$ at the Food World supermarket while Rabroy Tomato Sauce in ZIG/USD/CASH is sold at an equivalent of US$1.10 and the same product is selling at US$1.25 for ZIG/USD/Swipe a 330 ml can of coke is pegged at ZIG/USD/CASH US$0 “Such pricing structures leave us desperate as customers because when we receive our salaries we are not enjoying any such benefits since we are paid at a flat rate Authorities must urgently act on these anomalies because they provide a sound basis for deducting confidence in the currency,” one customer at Food World Supermarket said Some of the retail outlets are still limiting the number of products which can be paid for in the local ZWG currency while others are making local currency purchases complicated Swedish shipping company Furetank has ordered a dual-fuel tanker from Chinese shipbuilder China Merchants Jinling Shipyard – former AVIC The newbuild will become the ninth vessel in the Vinga series of sister vessels It is scheduled to be delivered from the shipyard in January 2024 also includes an option for further vessels The 17,999 dwt unit is the latest contribution to the series of eight sister vessels designed with special focus on minimal impact on the environment Furetank owns four of them and commercially operates all eight tankers The vessels all have dual-fuel capability and run on LNG/LBG They are designed with a battery hybrid solution and several innovative features that reduce fuel and energy consumption resulting in extensively lower emissions of CO2 The new ship will also be fully equipped to operate cargo pumps with 6.6 kV high voltage shore power It has a cargo capacity of 20,306 cubic meters in 12 epoxy coated cargo tanks ice class 1A and an efficient cargo handling system A flexible cargo pump and line arrangement ensure safe and efficient cargo operations with reduced port-turnaround time “This is yet another step forward on our journey towards a fleet consisting entirely of climate friendly vessels,” Lars Höglund “With this newbuilding we will continue to implement all available technologies to do the best we can – now It feels especially good to place the order in these unstable pandemic times; we have a strong belief in the future.” Furetank said it began to offset the remaining carbon emissions from its Vinga-class of vessels through the purchase of carbon credits The firm has already achieved a 55% reduction of CO2 emissions for its Vinga series of vessels by using an optimized ship design and an LBG/LNG propulsion The first vessel operated by DFDS under its new 20 year contract to provide freight and passenger services arrived in the island shortly after 5am today (28 March) has previously brought cargo to the island as a back up to the regular freight vessels and is familiar with Jersey waters However, the maiden France crossings have been cancelled because the high speed vessel 114 passengers had been due in to the island this afternoon This weekend's schedule has been revised with the Stena Vinga covering the St Malo route Affected passengers are also being refunded and given a voucher for a free future return crossing The high speed vessels that will serve Jersey - Levante Jet and Tarifa Jet Tarifa Jet is an 86 metre high-speed vessel which previously operated on the Gibraltar - Morocco route.  It has been having a refit in Portland.  DFDS says technical issues mean 'additional work is required' to get her ready for service she is similar in layout onboard to the Condor Rapide and Express apologised for the late changes and said the company was working to keep disruption to a minimum The Stena Vinga from Portsmouth is expected into St Helier harbour (ETA 6pm) before setting off on the reverse overnight crossing with 266 passengers DFDS says it marks a new era of connectivity for Jersey Chris Parker said: “We’re excited to finally be here the governments of Jersey and Guernsey invited applications to take over the Channel Islands' ferry operations as the islands' deal with Condor would expire in March 2025 READ: Jersey and Guernsey invite ferry companies to bid to operate future services During November, Guernsey said it was pressing ahead with an independent ferry contract with Condor - now rebranded as Brittany Ferries - separate from the joint tender process Jersey went on to award DFDS the Jersey ferry contract in early December with schedules following in early 2025.  READ: DFDS wins Jersey ferry contract  Sweden's Furetank AB and Canada's Algoma Central Corporation have entered into a joint venture agreement to construct eight LNG-/LBG-fueled ice class 1A chemical and product tankers (17,999 DTW) to trade in Northern Europe Svanehøj will supply 14 electric deepwell cargo pumps for each of the first seven tankers The 98 pumps will be delivered to China Merchants Jinling Shipyard in Yangzhou where the new vessels will be built between 2023 and 2025 The FureBear vessels are built to the same design as the tankers in Furetank's Vinga series The Vinga design was developed by Furetank in close collaboration with FKAB Marine Design and several onboard system suppliers By installing Svanehøj’s electric DL pump system Furetank has reduced fuel consumption during cargo discharge operations by around 25% compared to other vessels in the fleet The Vinga vessels are fully equipped to operate the cargo pumps with 6.6 kV high voltage shore power This will reduce emissions even further as soon as ports offer shore power facilities electric cargo pumps help to reduce noise on board and in the port area Furetank has developed a ship design that sets new standards for energy-efficient tankers it is an excellent case because our electric cargo pumps are among the solutions for a ship design that will be an inspiration to many of those who invest in newbuilds or retrofits in the coming years,” said Lars Bo Kirkegaard Free access to this content is for qualifying individuals only Corporate and institutional access requires an appropriate license or subscription For more information contact institutions@markallengroup.com where 190 people fly over the water at 30 knots using foil wings and batteries resulting in significally lower energy consumption than that of today's ferries This is the result of the work five Chalmers students did during the fall of 2023 "If I had seen this result when the course started in September I would have found it an incredibly interesting concept," says Per Mottram Hogström researcher at Mechanics and Maritime Sciences students are faced with challenges in ship design Various companies contact Chalmers with requests to design a ship the students were tasked with designing a ferry for the archipelago outside Gothenburg the customer comes with a well-defined specification of what they want," says Per Mottram Hogström "The students then try to meet the customer's requirements by bouncing their thoughts and ideas with the customer." The project culminates in the conceptual design of a ship he has several of models of concepts from previous years The latest addition among the models arose from an idea that Per Mottram Hogström and his colleague Arash Eslamdoost had to create a ship that operates in the southern archipelago of Gothenburg powered by electricity and so-called hydrofoil technology the technology involves equipping ships with foil wings the ferry's energy consumption drops drastically "The technology has been around for a long time and has boomed in recent years," says Per Mottram Hogström "It's the high-performance racing sailboats in the America's Cup that have driven it this type of wings are found on all sorts of vessels The two researchers contacted Styrsöbolaget which operates ferry traffic in the southern archipelago of Gothenburg They were told that the company was interested but had too much on their plate to devote time to the project Per Mottram Hogström and Arash Eslamdoost chose to continue pursuing the idea anyway and formulated a project proposal for the students taking the course "We were instructed to build a foiling e-ferry for Västtrafik not much more than that," says Marcus Varvne about how he and his four fellow students were assigned the task The group tackled the task by starting with a week of brainstorming "We just sat and came up with a lot of ideas in our room trying to figure out what kind of boat we wanted to look at – size things started to fall into place for us to examine more closely.” "We had pretty clear boundaries in the project," says Marcus Varvne If someone were to see the sketches we had after the first week today they would probably think they were quite similar to the final result But all of us involved know how many hours of work went into the final ferry.” the actual work of designing the ferry began the group created a "work preference sheet," a document listing each part of the project and then each member indicated how much they preferred or didn't prefer to work on each part Since the group was small compared to previous years' student groups the responsibility on each person was heavier there have been four groups with two to three specific people in each area," says Marcus Varvne so we had to choose our own subarea to work on and it became a big responsibility per person It made it difficult to help others in the group." "But it turned out very well in the end," says Arvid Sörfeldt "Not everyone wanted to work on the same thing in the project so we were a group that was well-suited for the task The course and the work of creating the ferry concept lasted for 15 weeks in the fall They mention time as one of the biggest challenges along the way "we should be done with this in two days," presented results to each other – which may not always have been the best possible "A lot has to fall into place and be connected for it to become a concept that functions as a whole," says Arvid Sörfeldt "That's something I take great pride in They highlight trying new things and redoing as one of the biggest learning experiences along the way Marcus Varvne describes that when you're designing this type of boat the requirements in the process are very contradictory "There's no straight path forward not too large batteries because they're heavy and a foiling boat should be as light as possible We could sit for a whole day and think we had the best solution without repeating anything that has been done before is one of the biggest rewards of the course The results of the students' work will now be taken forward into a thesis project we're making a new boat for a new customer," says Marcus Varvne maybe our design and concept will become something The goal of the Marine Design Project course this time was to create and design powered by batteries and hydrofoil technology that could operate in the southern archipelago of Gothenburg The students' concept ferry was named HSC Vinga built of carbon fiber-reinforced polymer plastic with a capacity of up to 190 passengers and 20 bicycles The ferry has two so-called foil wings: a U-shaped foil in the middle of the ferry and a T-shaped foil at the stern You can read more about the course, Marine design project, here Midlands province on Thursday staged a protest demanding that SADC “respects the will” of Zimbabweans SADC Heads of State will be convening in Harare for the regional bloc’s 44th Summit where President Emmerson Mnangagwa will assume it’s leadership Tensions are already running high following the arrest of about 160 human rights activists and opposition members in recent weeks on varied charges Political analysts believe the arrests and crackdown are aimed at blocking any demonstrations Several rights organizations have since criticized the arrests and ordered authorities to immediately release the arrested victims In a viral video circulated Thursday a group of rights activists from the usually quiet rural community of Gokwe the group’s leader who identified himself as Givemore Chuma urged SADC leaders to do the ‘’respectable” “SADC must not be used to sanitise President Emmerson Mnangagwa’s illegitimacy This is what we are saying as the inhabitants of Gokwe.We are holding these demonstrations to send out a clear message “It has been common knowledge through the years that people from Gokwe are backward but today we have taken the first step in sending the message that we are not supporting the conferment of the SADC chairmanship to Mnangagwa No one voted for him to power.What lessons does SADC intend to confer to citizens across the region ?” he said in the video Chuma said the task ahead of SADC is to respect the will of the people of Zimbabwe “It is unfair to reward election theft in such a manner What we appreciate is the fact that Advocate Nelson Chamisa won this election and he is the one who deserves the chairmanship I am just the spokesperson on behalf of Zimbabweans and the people of Gokwe “If he (Chamisa) is not the one to take the helm then we have to take it to the street on the 17th of August The Constitution’s Section 59 allows us to demonstrate Zanu-PF has made it clear that power in Zimbabwe will not be transferred through the ballot We need a democratic government in Zimbabwe The ruling party has failed for the past 44 years,” he added the Zimbabwe Republic Police (ZRP) maintained a presence in the highest density suburbs with water canisters and military vehicles seen roaming up and about Authorities have justified the presence arguing it is an international best practice legally resorted to in line with providing security President Mnangagwa’s administration has since urged citizens to remain calm revealing the crackdown is aimed at sniffing out undesirable elements hired to threaten the country’s security The new vessel is expected to be delivered in July 2024 China Merchants Jinling Shipyard in Yangzhou has received a contract from Swedish shipping firm Furetank for the construction of a new dual-fuel tanker The 17,999 deadweight tonnage (dwt) vessel is the 11th in the company’s Vinga series Furetank stated that it “owns four of the vessels already delivered and commercially operates all.” the Vinga vessels operate on liquefied natural gas (LNG) or liquefied biogas (LBG) the tankers include several features designed to cut down the use of fuel and energy The new vessel will be fully fitted to operate on cargo pumps with 6.6kV high voltage shore power Don’t let policy changes catch you off guard Stay proactive with real-time data and expert analysis It will have a cargo capacity of 20,306m³ in 12 epoxy-coated cargo tanks as well as a cargo handling system and ice class 1A The ship will also feature a ‘flexible’ cargo pump and line arrangement to carry out safe cargo operations with shorter port turnaround times The vessel’s expected delivery from the shipyard is in July 2024 the agreement has an option for more vessels Furetank CEO Lars Höglund said: “We are very pleased to add the eleventh vessel to our climate-friendly Vinga series Furetank’s ambition is to be the leading actor within the segment offering our customers efficient and environment-friendly transportation we can offer good service and at the same time optimise the trading pattern to increase utilisation of the vessels.” In January, the Yangzhou shipyard won a contract for the construction of the ninth vessel in the Vinga series which is expected to be delivered in January 2024.  Nominations are now open for the prestigious Ship Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation This is your chance to showcase your achievements Don't miss the opportunity to be honoured among the best - submit your nomination today Give your business an edge with our leading industry insights View all newsletters from across the GlobalData Media network. A legal expert Vengai Madzima has implored Zimbabweans working in the diaspora to exercise due diligence when engaging in immovable property dealings to avoid being defrauded and losing their hard-earned money to scammers back home The calls come at the back of numerous horrendous experiences which diasporans have experienced over the years at the hands of bogus realtors several others have been shortchanged by their relatives only to discover years later that images of houses under construction which were sent to them were just a farce But speaking to NewZimbabwe.com ahead of the Zim Diaspora Property Showcase to be held on July 13 at the Hilton Estates Department at MCM Legal said there is a need to exercise due diligence in all property dealings RELATED: UK: Zim Diaspora Property Showcase – a platform to explore the property market back home The Zim Diaspora Property Showcase is organised by real estate company Seeff Zimbabwe and will bring on board several property experts and stakeholders who will interface and explore strategies to circumvent property investment challenges in the country Registration for the inaugural event is free “Prospective purchasers in the diaspora face the risk of double sales Where they buy a property that has been sold to someone else I am told some have bought properties that do not exist “It will be difficult to then enforce such agreements because a variety of legal factors will have to be considered before the purchaser is awarded the purchased property by our courts,” he said He said it is essential therefore that the purchaser also contributes to the due diligence process by engaging a registered estate agent and a registered legal practitioner to assist with the process The legal expert said a prospective purchaser can verify the registration status of either of them with the Estate Agents Council and Law Society of Zimbabwe respectively Madzima said these two professionals will have an on-the-ground appreciation of the transactions and can conduct the requisite due diligence processes including completing the transaction most efficiently in consultation with the purchaser who is their principal “Our law requires agreements of sale for properties to be in writing due diligence or review for these agreements should be undertaken by Legal practitioners to ensure that all the critical parts of a binding agreement have been included That is what they are trained to do at the end of the day,” he said He added that various structures can be implemented to limit or mitigate the loss of funds through remote construction of properties Madzima will share more details on legal aspects when dealing with property transactions at the Zim Diaspora Property Showcase where he is one of the key panelists Sweden-based Furetank has signed a contract for a 17,999 dwt dual-fuel product tanker at Avic Dingheng Shipbuilding Furetank said on Wednesday that the agreement with the yard included an option for one further vessel The new vessel will be identical with the series of six sister vessels built by Avic Dingheng Shipbuilding for Furetank Rederi AB All vessels are designed with dual-fuel capability capable of running on LNG and have features that reduce fuel and energy consumption resulting in extensively lower emissions of CO2 The vessel is of an Ice class 1A and has a cargo capacity of 20,306 cubic meters in 12 epoxy coated cargo tanks It is scheduled to be delivered from the shipyard in the fourth quarter of 2020 The company also said that Furetank Rederi AB signed an agreement to sell the Fure Vinga vessel to an undisclosed Canadian buyer The vessel will be delivered to the new owner during April 2019 Furetank added that the vessel would be replaced with the order of at least one vessel from Avic Dingheng The 149.9 meters-long Fure Vinga was delivered last year to Furetank It was also the first in the six LNG-fueled vessel series ordered by the partners in the Swedish Gothia Tanker Alliance