It was launched on June 14, 2022. In October-November 2023, it was transported via Russia’s inland waterways to the Baltic Shipyard in St. Petersburg for completion.
Participating shipping companies’ fleets travel at 10 knots (11.5 mph) or less in the VSR zones from May to December, which coincides with peak ozone and endangered whale presence.
These efforts will help Small Island Developing States (SIDS) respond more effectively to rising sea levels, intensifying storms and other climate-related threats.
The Korea Trade Insurance Corporation (K-SURE) and Trafigura have entered into a USD200 million mid- to long-term financing agreement to boost the export business of Korean shipping companies.
A new advanced simulation suite supplied by technology group Wärtsilä for the Akademi Laut Malaysia (ALAM) maritime training institute was inaugurated on 17 July 2025.
