NEWS & UPDATES

Selected Headlines on Alternative Fuels & Technologies 2026

Sun 03 May

SELECTED HEADLINES ON ALTERNATIVE FUELS & TECHNOLOGIES

BY INTERCARGO- May 2026

DRY BULK SHIPPING FOCUS

Berge Bulk turns WindWings sails into daily operational routine
Shipowner says focus has shifted from installation to optimisation.
Source: TradeWinds – click here

BHP trial highlights search for biofuel alternatives to used cooking oil
Growing competition for biofuels drives the search for new feedstocks. Source: TradeWinds – click here

WinGD Reports First Marine Ethanol-Fueled Engine Orders for Vale Bulkers
WinGD will supply the first ethanol-fueled engines for the massive new ore carriers. Source: Maritime Executive – click here

Pilot trials on Rio Tinto vessel ‘confirm’ solar-powered technology’s ability to deliver fuel savings
Pilot trials confirmed the potential of the NanoDeck photovoltaic system to reduce fuel consumption. Source: Ship Energy – click here

METHANOL / ETHANOL

Partnership targets bio-methanol supply
PuriFire Energy and X-Press Feeders have signed a Letter of Intent (LOI) to develop port-based bio-methanol production and strengthen green marine fuels supply chains.Source: Port Strategy – click here

First of five methanol retrofits completed under Seaspan and Hapag-Lloyd’s collab
The first vessel conversion has been completed under the partners’ methanol retrofit programme. Source: Offshore Energy – click here

European Energy flags successful conversion of e-methanol into gasoline in Denmark
European Energy reports successful conversion of e-methanol into gasoline in Denmark. Source: Ship Energy – click here

First ethanol bunkering at Port of Rotterdam
The container vessel Eco Levant became the first ship bunkered with ethanol at the Port of Rotterdam.Source: Ship Energy – click here

More than three million tonnes of biomethanol and e-methanol capacity currently under construction in China, estimates GENA Solutions
GENA Solutions estimates over three million tonnes of renewable methanol production capacity is currently under construction in China. Source: Ship Energy – click here

Laura Maersk bunkered with 100% ethanol by barge
The dual-fuel feeder container ship Laura Maersk was supplied with 100% ethanol fuel.Source: Ship Energy – click here

AMMONIA

Itochu starts ammonia bunkering trials in Singapore
Demonstration trials are slated for late 2027. Source: TradeWinds – click here

NYK to convert tug for ammonia
NYK has contracted Keihin Dock to convert a tugboat to ammonia-fuel specifications. Source: Motorship – click here

First wave of ammonia dual-fuel cargoships set for delivery across multiple sectors
The maritime industry is approaching a decarbonisation milestone as the first large commercial vessels capable of operating on ammonia fuel near delivery, with DNV reporting 47 ammonia-fuelled newbuildings and three retrofit projects ordered globally.Source: Lloyd’s List – click here

HYDROGEN

Why Cheap Renewables Have Not Made Green Hydrogen Cheap – and How H2Pro DWE Is Built for Intermittent Power
A new H2Pro whitepaper examines the limitations of conventional electrolyzers and proposes a pathway towards lower-cost green hydrogen. Source: Hydrogen Central – click here

BIOMASS/BIOFUELS

MOL Group adding biomethane unit to Hungarian biogas plant
The new facility will be capable of producing more than seven million cubic metres of biomethane annually. Source: Ship Energy – click here

FuelEU Maritime regulation drives increase in Gasum’s bio-LNG sales
Gasum reports that FuelEU Maritime has become a significant driver of bio-LNG demand. Source: Ship Energy – click here

Verde Marine Energy now fully RED III compliant
The fuel supplier has renewed its ISCC EU certification and achieved full RED III compliance. Source: Ship Energy – click here

CARBON CAPTURE

MODEC and Eld embark on next-gen carbon capture-enabled FPSO power system
The companies are developing a 1.2 MW carbon capture power system for future zero-emission FPSOs. Source: Offshore Energy – click here

 

TECHNOLOGIES

Echandia launches new LTO battery system
The Swedish company has launched a marine battery system based on lithium-titanium-oxide technology.Source: Ship Energy – click here

Seafair and Laskaridis Shipping Collaborate on AI-Powered Compliance Engine for SMS Audits
The partnership aims to automate audit and safety management system processes using artificial intelligence. Source: Splash247 – click here

The boundless promise and fragile foundations of AI at sea
An assessment of the opportunities and challenges surrounding AI adoption in shipmanagement. Source: Splash247 – click here

Powering the transition: the expanding role of batteries in shipping
Batteries are becoming a core enabler of shipping’s decarbonisation as the industry transitions to cleaner energy systems, according to William Nyström of Foreship by RINA.Source: Lloyd’s List – click here

DECARBONISATION

ABS releases Nuclear-Ready Notation
ABS says its new notation establishes a pathway for marine and offshore assets considering future nuclear energy conversion. Source: Ship Energy – click here

Consortium to establish Brazil-Europe green shipping corridor
A new consortium will work to establish a green shipping corridor between the Port of Açu and the Port of Antwerp-Bruges. Source: Splash247 – click here

 

SELECTED HEADLINES ON ALTERNATIVE FUELS & TECHNOLOGIES

BY INTERCARGO- April 2026

 

DRY BULK SHIPPING FOCUS

Grieg to install wind solutions on dry bulk vessels
First commercial agreement for GT Wings comes after Grieg’s investment in the start-up in 2025.Reference: TradeWinds. Link

Laskaridis Shipping dives into wind propulsion with suction sails on board bulker
Laskaridis Shipping is progressing with the installation of suction sails on one of its bulk carriers as part of its wind-assisted propulsion strategy. Reference: Riviera.Link

Novel carbon capture system and ammonia carrier design get green light
Concept designs for a dry bulk carrier with onboard carbon capture and an ammonia-powered carrier have received approvals in principle from ClassNK. Reference: Riviera. Link

Halten Bulk doubles down on low-emission shortsea shipping
New vessels will be equipped with rotor sails to improve fuel efficiency and reduce emissions in coastal trades. Reference: Splash247. Link

Pilbara ammonia bunkering hub progresses
Plans for Australia’s first ammonia bunkering hub are advancing to support future marine fuel demand. Reference: Port Strategy. Link

METHANOL / ETHANOL

Shipowner Rye-Florentz secures e-methanol for tanker fleet
The UK-based owner has secured green methanol supply for chemical carriers designed to operate on low-carbon fuels. Reference: TradeWinds. Link

Wah Kwong completes Hong Kong’s first green methanol bunkering
The operation marks a regional milestone in methanol fuel deployment involving a China Merchants vessel. Reference: TradeWinds. Link

CMA CGM completes first biomethanol bunkering in China
The company conducted its first biomethanol bunkering operation using low-carbon fuel supplied to a newbuilding. Reference: TradeWinds. Link

Wallenius Wilhelmsen secures bio-methanol supply
A two-year agreement with Equinor supports the company’s transition toward lower-emission fuels through mass-balanced bio-methanol. Reference: Motorship. Link

Everllence and Vale collaborate on ethanol fuel development
The partnership aims to advance ethanol as a viable fuel for large ocean-going vessels. Reference: Motorship. Link

Everllence advances hydrogen propulsion
The company has upgraded its research engine test bench to enable hydrogen combustion trials. Reference: Motorship. Link

AMMONIA

Sumitomo, K Line and NYK team up on ammonia bunkering vessel
The partners are advancing the development of a low- or zero-carbon ammonia bunkering vessel concept. Reference: TradeWinds. Link

Ammonia propulsion reaches commercial milestone
WinGD has completed approval and acceptance testing of its ammonia-fuelled two-stroke engine, marking a key step toward zero-carbon shipping. Reference: Motorship. Link

KR develops ammonia after-treatment system
A new exhaust gas treatment solution has been developed to support ammonia-fuelled engine deployment. Reference: Motorship. Link

HYDROGEN

Japan demonstrates hydrogen-fuelled engine for large commercial vessels
A large-scale hydrogen-fuelled engine has been demonstrated for potential application on ocean-going ships. Reference: Maritime Executive. Link

China to dominate green fuel landscape as hydrogen strategy advances
China’s expanding hydrogen economy is expected to play a leading role in shaping the global green fuel market. Reference: TradeWinds. Link

DNV study highlights hydrogen safety considerations
A multi-year study underscores the importance of design-based safety principles for hydrogen adoption in maritime operations. Reference: Motorship. Link

 

BIOMASS/BIOFUELS

 Titan Clean Fuels signs up to buy e-methane for shipping from Turn2X
The agreement will support the supply of e-methane to the maritime sector from 2028. Reference: TradeWinds. Link

CARBON CAPTURE

NYK teams up with Chiyoda and Knutsen on carbon capture and storage projects
The collaboration will advance CCS initiatives both in Japan and internationally.
Reference: TradeWinds. Link

TECHNOLOGIES

 

MOL and Hitachi group to turn old ships into floating data centres
The initiative aims to develop offshore digital infrastructure to support growing AI demand. Reference: TradeWinds. Link

Scorpio Tankers joins push into nuclear propulsion
The company is investing in nuclear propulsion development through a strategic partnership. Reference: TradeWinds. Link

Orca AI receives ClassNK technology qualification
The platform’s AI-based perception system has been validated for autonomous navigation applications. Reference: Ship Management International. Link

Joint project launched on nuclear-powered electric propulsion
Industry partners are collaborating on the development of nuclear-powered electric propulsion systems for future vessels. Reference: Riviera. Link

Hydrogen fuel cell cruise ship advances toward zero-emission operations
Viking’s hydrogen-powered cruise vessel is progressing toward zero-emission capability in port and sensitive areas. Reference: Riviera. Link

Large-scale battery system planned for Polarstern research vessel
A 16 MWh battery system will support next-generation polar research operations. Reference: PeopleTech Maritime. Link

Jiangnan Shipyard advances nuclear propulsion capabilities
The shipyard has secured a civil nuclear licence supporting future reactor development. Reference: Lloyd’s List. Link

 

DECARBONISATION

WinGD study exposes cracks in the green LNG story
The analysis highlights risks that current policy frameworks could lock the industry into fossil LNG pathways. Reference: Lloyd’s List. Link

 

SELECTED HEADLINES ON ALTERNATIVE FUELS & TECHNOLOGIES

BY INTERCARGO- March 2026

DRY BULK SHIPPING FOCUS

 

Grieg to install wind solutions on dry bulk vessels
First commercial agreement for GT Wings comes after Grieg’s investment in the start-up in 2025.Reference: TradeWinds. Link

Laskaridis Shipping dives into wind propulsion with suction sails on board bulker
Laskaridis Shipping is progressing with the installation of suction sails on one of its bulk carriers as part of its wind-assisted propulsion strategy. Reference: Riviera.Link

Novel carbon capture system and ammonia carrier design get green light
Concept designs for a dry bulk carrier with onboard carbon capture and an ammonia-powered carrier have received approvals in principle from ClassNK. Reference: Riviera. Link

Halten Bulk doubles down on low-emission shortsea shipping
New vessels will be equipped with rotor sails to improve fuel efficiency and reduce emissions in coastal trades. Reference: Splash247. Link

Pilbara ammonia bunkering hub progresses
Plans for Australia’s first ammonia bunkering hub are advancing to support future marine fuel demand. Reference: Port Strategy. Link

METHANOL / ETHANOL

Shipowner Rye-Florentz secures e-methanol for tanker fleet
The UK-based owner has secured green methanol supply for chemical carriers designed to operate on low-carbon fuels. Reference: TradeWinds. Link

Wah Kwong completes Hong Kong’s first green methanol bunkering
The operation marks a regional milestone in methanol fuel deployment involving a China Merchants vessel. Reference: TradeWinds. Link

CMA CGM completes first biomethanol bunkering in China
The company conducted its first biomethanol bunkering operation using low-carbon fuel supplied to a newbuilding. Reference: TradeWinds. Link

Wallenius Wilhelmsen secures bio-methanol supply
A two-year agreement with Equinor supports the company’s transition toward lower-emission fuels through mass-balanced bio-methanol. Reference: Motorship. Link

Everllence and Vale collaborate on ethanol fuel development
The partnership aims to advance ethanol as a viable fuel for large ocean-going vessels. Reference: Motorship. Link

Everllence advances hydrogen propulsion
The company has upgraded its research engine test bench to enable hydrogen combustion trials. Reference: Motorship. Link

AMMONIA

Sumitomo, K Line and NYK team up on ammonia bunkering vessel
The partners are advancing the development of a low- or zero-carbon ammonia bunkering vessel concept. Reference: TradeWinds. Link

Ammonia propulsion reaches commercial milestone
WinGD has completed approval and acceptance testing of its ammonia-fuelled two-stroke engine, marking a key step toward zero-carbon shipping. Reference: Motorship. Link

KR develops ammonia after-treatment system
A new exhaust gas treatment solution has been developed to support ammonia-fuelled engine deployment. Reference: Motorship. Link

HYDROGEN

Japan demonstrates hydrogen-fuelled engine for large commercial vessels
A large-scale hydrogen-fuelled engine has been demonstrated for potential application on ocean-going ships. Reference: Maritime Executive. Link

China to dominate green fuel landscape as hydrogen strategy advances
China’s expanding hydrogen economy is expected to play a leading role in shaping the global green fuel market. Reference: TradeWinds. Link

DNV study highlights hydrogen safety considerations
A multi-year study underscores the importance of design-based safety principles for hydrogen adoption in maritime operations. Reference: Motorship. Link

 

BIOMASS/BIOFUELS

Titan Clean Fuels signs up to buy e-methane for shipping from Turn2X
The agreement will support the supply of e-methane to the maritime sector from 2028. Reference: TradeWinds. Link

CARBON CAPTURE

NYK teams up with Chiyoda and Knutsen on carbon capture and storage projects
The collaboration will advance CCS initiatives both in Japan and internationally.
Reference: TradeWinds. Link

 

TECHNOLOGIES

MOL and Hitachi group to turn old ships into floating data centres
The initiative aims to develop offshore digital infrastructure to support growing AI demand. Reference: TradeWinds. Link 

Scorpio Tankers joins push into nuclear propulsion
The company is investing in nuclear propulsion development through a strategic partnership. Reference: TradeWinds. Link

Orca AI receives ClassNK technology qualification
The platform’s AI-based perception system has been validated for autonomous navigation applications. Reference: Ship Management International. Link

Joint project launched on nuclear-powered electric propulsion
Industry partners are collaborating on the development of nuclear-powered electric propulsion systems for future vessels. Reference: Riviera. Link

Hydrogen fuel cell cruise ship advances toward zero-emission operations
Viking’s hydrogen-powered cruise vessel is progressing toward zero-emission capability in port and sensitive areas. Reference: Riviera. Link

Large-scale battery system planned for Polarstern research vessel
A 16 MWh battery system will support next-generation polar research operations. Reference: PeopleTech Maritime. Link

Jiangnan Shipyard advances nuclear propulsion capabilities
The shipyard has secured a civil nuclear licence supporting future reactor development. Reference: Lloyd’s List. Link

 

DECARBONISATION

WinGD study exposes cracks in the green LNG story
The analysis highlights risks that current policy frameworks could lock the industry into fossil LNG pathways. Reference: Lloyd’s List. Link

 

SELECTED HEADLINES ON ALTERNATIVE FUELS & TECHNOLOGIES

BY INTERCARGO- February 2026

 

DRY BULK SHIPPING FOCUS

Seabound reaches commercial deployment milestone
Seabound has completed its first full-scale onboard carbon capture system, marking a major commercial milestone for the UK-based clean technology company. Reference: Motorship. Link

METHANOL / ETHANOL

Vale teams up with Everllence on ethanol fuelling
The mining major is developing triple-fuel ore carriers capable of using emerging ethanol-based marine fuels. Reference: TradeWinds. Link

NYK bulker cuts emissions by two-thirds using low-carbon methanol
The Japanese owner reported significant emission reductions from an ultramax chartered by BHP. Reference: TradeWinds. Link

ETFuels inks first binding e-methanol offtake deal with RFOcean
A fixed-price green methanol supply agreement from 2030 underscores a long-term compliance strategy. Reference: Lloyd’s List. Link

Japan completes first STS methanol bunkering
Mitsui O.S.K. Lines and partners completed Japan’s first ship-to-ship methanol bunkering at anchorage. Reference: Motorship. Link

AMMONIA

WinGD ammonia two-stroke engine completes type approval testing
Completion of Type Approval and Factory Acceptance Testing marks a major milestone toward commercial ammonia propulsion. Reference: PeopleTech Maritime. Link

Ammonia effluent standards group launches
An international working group will develop global safety management and discharge standards for ammonia-fuelled ships. Reference: Motorship. Link

First offshore vessel to operate on ammonia coming this autumn
Eidesvik Offshore is converting PSV Viking Energy for ammonia-powered operations. Reference: Offshore Energy. Link

HYDROGEN

Hydrogen on the horizon for new-build Norwegian ferry
Kongsberg Maritime has secured a propulsion contract for Gotlandsbolaget’s hydrogen-ready ferry Horizon X. Reference: Maritime Journal. Link

New York’s first hydrogen fuel cell-electric ferry enters design stage
Development has started on a hydrogen fuel cell-electric fast-ferry design targeting New York waters. Reference: Riviera. Link

Everllence advances hydrogen propulsion
The company has upgraded its Augsburg research engine test bench to enable hydrogen combustion trials. Reference: Motorship. Link

BIOMASS/BIOFUELS

Biofuel industries make their pitch for shipping
Methanol, ethanol and biogas producers call for stronger regulatory support while highlighting supply constraints and feedstock complexities. Reference: Lloyd’s List. Link

Regulation isn’t the only factor slowing bio-LNG uptake
Production fragmentation, regulatory differences and methane leakage risks are cited as key barriers. Reference: Lloyd’s List. Link

CARBON CAPTURE

DNV plots a rocky road to onboard carbon capture
Scenario modelling suggests onboard carbon capture could contribute post-2030, but faces significant technical and economic challenges. Reference: Lloyd’s List. Link

TECHNOLOGIES

Jiangnan Shipyard obtains nuclear safety licence
A five-year civil nuclear licence supports China’s advancing nuclear propulsion ambitions. Reference: Lloyd’s List. Link

Maersk and Bill Gates back American battery pioneer
Fleetzero has secured $43m in Series A funding to scale high-density marine battery systems. Reference: Splash247. Link

Cold ironing just got cooler
INNIO Group’s Jenbacher microgrids integrate cogeneration systems with renewable energy sources for shore power. Reference: Port Strategy. Link

Saipem adopts AI for predictive maintenance
AI tools are being deployed to enhance maintenance efficiency and safety offshore. Reference: Riviera. Link

Fuel tech firm aims to reform bunker efficiency
Fuelre4m claims its molecular reforming technology enhances combustion and energy output from conventional bunker fuels. Reference: Lloyd’s List. Link

DECARBONISATION

Panama, Liberia and Argentina propose LNG-friendly alternative to Net-Zero Framework
The proposal suggests lower emission targets without a carbon price and introduces surplus unit flexibility mechanisms. Reference: Lloyd’s List. Link

NGOs sue EU Commission over green taxonomy
Legal action challenges the EU’s classification of fossil-fuelled shipping and aviation as sustainable activities. Reference: Lloyd’s List. Link

Crew change travel carries overlooked carbon cost
Scope 3.6 emissions from crew logistics are drawing increasing scrutiny within maritime decarbonisation strategies. Reference: Splash247. Link

Hapag-Lloyd and DSV sign CO₂e emissions-reduction agreement
A two-year framework agreement aims to reduce Scope 3 emissions. Reference: Riviera. Link

$20 billion Asian LNG project advances with environmental clearance
Indonesia’s Masela block LNG development progresses following regulatory approval. Reference: Offshore Energy. Link

January 2026

SELECTED HEADLINES ON ALTERNATIVE FUELS & TECHNOLOGIES

BY INTERCARGO- January 2026

 

DRY BULK SHIPPING FOCUS

Berge Bulks fits second ship with rotor sails
Berge Neru becomes the Singapore-based owner’s third wind-assisted vessel, reinforcing its wind propulsion strategy. Reference: TradeWinds. Link

Cargill’s first methanol-fuelled ship embarks on maiden voyage
The first of five methanol-fuelled bulker newbuildings is expected to initially use methanol primarily for testing purposes. Reference: TradeWinds. Link

HMM showcases South Korea’s first domestic wind propulsion system
The owner has indicated a fleet-wide rollout for its dry bulk vessels should trials confirm meaningful fuel savings. Reference: TradeWinds. Link

Bulk carrier installation highlights risks and benefits of OCCS
China Classification Society underlines the need to balance innovation with safety as onboard carbon capture technologies evolve. Reference: Motorship. Link

Hydrogen boost for bulk shipping
LH2 Shipping has secured NOK 299 million to further advance hydrogen-powered bulk carrier projects. Reference: Motorship. Link

Paradip plugs in to shore-to-ship power
Paradip Port becomes India’s second major port to commission a shore power system capable of supplying full-load electricity. Reference: Port Strategy. Link

METHANOL

New two-stroke methanol dual-fuel engine under development in Japan
J-ENG is targeting commercial methanol engine deployment by 2027 as part of its carbon-neutral roadmap. Reference: Riviera. Link

Maersk adds another methanol-powered vessel to its fleet
A.P. Moller–Maersk has taken delivery of the first in a new series of six dual-fuel mid-size container vessels. Reference: Offshore Energy. Link

Why green methanol first movers are now looking at ethanol
Early adopters of green methanol are reassessing fuel strategies amid regulatory and supply developments. Reference: Lloyd’s List. Link

AMMONIA

CMB.TECH secures green ammonia for newbuildings
The owner has signed offtake and investment agreements to support its expanding ammonia-fuelled fleet. Reference: TradeWinds. Link

Project launched to replace diesel generators with ammonia-to-power packs
A joint initiative between Vinssen, Samsung Heavy Industries and Amogy targets ammonia-based onboard power systems. Reference: Splash247. Link

Exmar completes largest ship-to-ship ammonia transfer to date
The operation marks a new milestone in ammonia handling and transfer operations. Reference: Motorship. Link

Wärtsilä to supply ammonia engine for Skarv
The Wärtsilä 25 Ammonia engine will power a new cargo vessel for Skarv Shipping Solutions. Reference: Motorship. Link

Boosting Norway’s ammonia bunkering network
Azane Infrastructure has secured funding to expand bunkering terminals along Norway’s coastline.Reference: Port Strategy. Link

HYDROGEN

 Japan to build world’s largest liquefied hydrogen carrier
A 40,000 m³ LH₂ carrier is planned at Kawasaki, targeting operations in the 2030s. Reference: Riviera. Link

 

BIOMASS/BIOFUELS

Biofuels shown to significantly reduce black carbon emissions
Trials indicate an 81% reduction in soot emissions from a biodiesel-powered tanker. Reference: TradeWinds. Link

MOL, Sinopec and Marubeni partner on marine biodiesel supply
The collaboration aims to establish long-term biodiesel supply chains for shipping. Reference: TradeWinds. Link

Odfjell launches green corridor between Brazil and Europe
Certified sustainable biofuel will be used on regular chemical tanker voyages. Reference: Splash247. Link

Bio-LNG market continues strong growth
Rising adoption in 2025 underlines bio-LNG’s growing role in decarbonisation pathways. Reference: Motorship. Link

CARBON CAPTURE

Chinese shipbuilder research quantifies cost of removing one tonne of CO₂
The study examines the full CCS chain from onboard capture to permanent storage.
Reference: TradeWinds. Link

Ports unite to advance carbon capture infrastructure
UK and European ports are collaborating to strengthen CO₂ transport and storage capabilities.
Reference: Port Strategy. Link

Carbon Captured Transhipper concept proposed
The concept focuses on ship-to-ship CO₂ transfer, onboard storage, and shore discharge.Reference: Offshore Energy. Link

It takes a lot of CO₂ to capture CO₂
Findings from GCMD’s Project Captured highlight lifecycle emission accounting challenges. Reference: Lloyds List  Link

TECHNOLOGIES

NYK and Stolt-Nielsen invest in ship sludge-to-fuel start-up
XFuel aims to scale production of low-carbon bunkers from waste liquids. Reference: TradeWinds. Link

Eastern Pacific and GCMD quantify wind-assisted fuel savings
Average instantaneous power savings of 7.2% were recorded during trials. Reference: TradeWinds. Link

Maersk and Bill Gates back US battery pioneer
Fleetzero claims its battery system is the world’s most energy-dense for marine use. Reference: Splash247. Link

HMM rolls out autonomous navigation technology fleetwide
The owner has partnered with Avikus to deploy AI-based navigation systems. Reference: Splash247. Link

DECARBONISATION

Singapore calls for more LNG bunker suppliers
The Maritime and Port Authority plans to upgrade its LNG bunkering reference framework. Reference: TradeWinds. Link

Poseidon Principles banking group considers expansion
Discussions are underway to include private equity and underwriting participants. Reference: TradeWinds. Link