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20 August 2026

NZ marine tech company Vessev raises $32 million in funding for US expansion

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Source reporting: rnz.co.nz

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NZ marine tech company Vessev raises $32 million in funding for US expansion

The VS-9 passenger boats will be used in America's first electric hydrofoil "flying" ferry service across Lake Tahoe.

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China growth straining global auto shipping capacity: Liner CEO

There’s a capacity pinch in the specialized world of ocean-going vehicle shipping. Wallenius Wilhelmsen Chief Executive Lasse Kristoffersen said surging Chinese vehicle exports are sustaining a shortage of specialized car-carrier capacity, even as new pure car and truck carriers (PCTC) enter service. Speaking during the company’s second-quarter earnings presentation, Kristoffersen said market-leading Wallenius Wilhelmsen’s fleet departing Asia was fully booked and that the company had to prioritize customers because demand exceeded available space. He explained that the strength of Chinese EV automotive exports reflects improving product competitiveness rather than a temporary effort to clear excess inventory. Chinese vehicle exports exceeded 1 million units in both June and July, implying an annualized pace of more than 12 million vehicles, Kristoffersen said.

Source: FreightWavesOriginal source

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