Banks guarantee €150m for green shipping

An investment of €150 million (€131.67m) is to support green shipbuilding projects in France. The agreement between the European Investment Bank (EIB) and Société Générale was made possible by the EU guarantee under the Investment Plan for Europe, commonly known as the Juncker Plan. It will support €750 million (€658.51m) of potential investment to finance new ships and modernise the existing fleet, as well as […]

Boat cloak will save energy by tricking water

An engineer in the USA has come up with a concept that could increase the efficiency of ships by ‘tricking’ the water around them into staying still by using a ‘fluid flow cloak’. Ships use a lot of energy pushing the water around them out of the way as they move forward. Yaroslav Urzhumov, Assistant […]