VIDEO: Freire launches new MBARI flagship research vessel Construction of the R/V David Packard, the new flagship research vessel under construction at the Freire Shipyard in Spain for the Monterey Bay Aquarium Research Institute (MBARI) reached a major milestone October
Navy installs a metal 3D printer in LHD 5 USS Bataan (LHD 5) this month became the first ship in the Navy to have a metal 3D printer permanently installed aboard. The installation advances the Navy efforts to improve self-sufficiency for
Initiative for Great Lakes-St. Lawrence Seaway green corridor launched Green shipping corridor announcements have been coming out of COP27, thick and fast. The plan to launch a green and digital transpacific corridor between San Pedro Bay ports and Singapore looks set
APM Terminals Bahrain to change leadership Maureen Bannerman, the current managing director of APM Terminals Bahrain, will leave her position in December 2022 as she returns to Dubai, UAE for personal reasons. Maureen Bannerman is at the helm of APM Terminals Bahrain since April 2021. During her tenure, she has driven a strategic and transformational agenda for the company and Khalifa Bin Salman Port, strengthened the management team and
Danaos fully liquidates shareholding in ZIM, boosts operating revenues Danaos Corporation has announced its financial results for the first nine months of the year, reporting an average of 71 container ships. The company's fleet utilisation for the nine months ended on 30 September 2022 was 98.1%. "The drop in demand for containerized freight has also significantly reduced vessel demand from opportunistic market participants, who were aggressively contracting smalle
South Korean shipbuilders in dilemma as Vietnamese welders found ineligible Delivery of new ships from South Korea is poised to meet considerable delay with shipyards facing a severe shortage of manpower as at least 1,100 Vietnamese welders are barred to enter Seoul due to carrying forged documents. Shipyard owners now fear they might have to pay penalties for delayed delivery of vessels, in the absence of required Vietnamese workers who have 41% shares of welders in the
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Strike action at port of Antwerp to launch on 9 November A strike of port workers is expected to commence tomorrow (9 November) at the port of Antwerp, starting at 06:00 am (local time) and ending at the same time the next day. Belgian trade unions are staging strikes with the socialist union calling a general strike while the Christian and liberal unions will organise protests including strikes, staff meetings and demos, according to Inchcape Shipping
DP World to invest US$500 million to cut CO2 emissions On 7 November, at the UN Climate Change Conference (COP 27) in Sharm El-Sheikh, Egypt, DP World Group chairman and CEO Ahmed Bin Sulayem announced that its company intends to invest up to US$500 million to reduce CO2 emissions from its operations by almost 700,000 tonnes over the next five years, representing a 20% cut from 2021 levels. "We have already committed to becoming a carbon neutral ente
Filipino seafarer sentenced to 20 years in prison for fatally stabbing fellow crew member A Filipino seafarer, who fatally stabbed a fellow crew member on the 14,000 TEU container ship MSC Ravenna en route from Shanghai to Los Angeles, was sentenced to 20 years in federal prison. Michael Dequito Monegro, 44, a resident of the Philippines, was sentenced by United States District Judge Dale S. Fischer, who said in court at a hearing on 7 November that Monegro's "conduct was unusually he
GAC establishes new office in Spain Global provider of shipping and logistics services GAC Group opened the first of its many planned offices in Spain on 8 November at the port of Algeciras. Algeciras, located in the province of Cadiz, is Spain's largest port, with more than 10 kilometres of docks serving all types of freight and passenger traffic. GAC Spain's aim is to offer a range of integrated brokerage, husbandry and spare par
Maersk opens new warehouse in Bangladesh A.P. Moller - Maersk is expanding its warehouse network in Bangladesh with a new 9,290 m² facility being built in Chattogram, a port city on the southeastern coast of the country. The upcoming facility is located near the port of Chittagong and is connected to the Dhaka-Chattogram highway via the outer ring road and the Karnaphuly tunnel, providing access to Bangladeshi garment exporters based in
Evergreen completes Colon Container Terminal takeover Evergreen Marine Corp. has confirmed the acquisition of the entire stake in Colon Container Terminal SA (CCT), a major box terminal in Panama. Taiwan's shipping company spent approximately US$268 million for the takeover of CCT and aims to enhance its presence in the region. Evergreen Marine president, Hsieh Huey-chuan, noted that CCT serves as one of the most important transportation hubs for Ev
NWSA, Busan Port Authority collaborate on decarbonisation initiative On 7 November, Northwest Seaport Alliance announced its newest decarbonisation effort and partnership with Busan Port Authority, as part of the Green Shipping Challenge at the 27th Conference of the Parties (COP 27) to the United Nations Framework Convention on Climate Change held in the Egyptian city of Sharm el-Sheikh. The Northwest Seaport Alliance (NWSA), a marine cargo operating partnership
Hyundai Heavy Industries introduces "lashing-free container ship" concept The world's largest shipbuilding company Hyundai Heavy Industries (HHI) developed a new concept container ship that does not require fixing of boxes. The South Korean company gained design approval for the "Lashing Free Container Ship" from the American Bureau of Shipping (ABS) and the Liberian Flag Administration. HHI explains, "A container vessel loads a box inside a cargo hold in order to load
Performance Shipping fixes another aframax to Glencore's ST Shipping at bumper rate Greek tanker owner Performance Shipping has secured long-term employment for its recently acquired aframax in a new and improved charter deal with Glencore's Singapore-based ST Shipping and Transport. The new contract is set to start at $32,000 per day following the vessel's delivery in December and last 24 months with options to extend or reduce ...
Covid puts Marintec China on hold for another year With covid cases in China surging, Informa, the organiser of Marintec China, has been forced to cancel next month's giant event in Shanghai for the third time in the last three years. The 21st edition of Marintec China has been postponed once again and is now set to take place at the end of the ...
Pelagic Partners enters offshore wind market with up to six CSOV newbuilds Cyprus-based alternative investment fund Pelagic Partners is expanding into the offshore wind sector, having emerged behind a series of newbuild orders for commissioning service operation vessels (CSOVs) at Cochin Shipyard in India. The order of up to six ships is part of the company's third compartment, named Pelagic Wind Fund, with a value of over ...
Equinor sets sights on Celtic Sea for gigawatt scale floating offshore wind development Norwegian energy giant Equinor is looking to develop a gigawatt scale floating offshore wind farm in the Celtic Sea, with the upcoming Celtic Sea floating wind seabed leasing round in view. The Crown Estate is planning a seabed leasing round in the Celtic Sea in 2023, and Equinor said it has conducted a comprehensive site ...
South Korean shipbuilders hit by welder crisis as over 1,000 Vietnamese workers denied entry More than 1,000 Vietnamese workers have been denied entry to South Korea over forged documents, leaving shipbuilders short of labor and at risk of penalties for delays in ship deliveries. Local media reports a total of 1,150 welders from Vietnam scheduled to work at shipyards from the fourth quarter were refused admittance after several labour ...
India's foreign minister touches down in Moscow for key trade talks India's foreign minister S Jaishankar touched down in Moscow this morning for talks with his counterpart Sergei Lavrov as trading ties between the two giant nations grow dramatically. "The talks will focus on the trade and investments, transport and logistics, the use of national currencies in mutual settlements, as well as promising projects in the ...
Delicate operation to remove grounded VLCC off Batam could take up to a month Indonesia reckons it will take up to a month to free a grounded laden VLCC in the Singapore Strait. The Djibouti-registered ran aground off the Riau Islands on October 26, very near to a gas pipeline linking to Singapore. The ship was recently sanctioned by the US for its alleged links to Iran. Shipping database ...
Centus Marine taps Strategic Marine for pair of fast crew suppliers Singapore-based shipbuilder Strategic Marine has won a newbuild contract for two fast crew suppliers from Malaysian offshore vessel owner Centus Marine. The two offshore support vessels follow four ships of a similar type ordered by Centus in the past two years and 11 in total. The new 42-m long units will feature design and technical enhancements ...
Peter Levesque: Ports supremo turned spy thriller writer A wave of gruesome executions in Shanghai cripples a top secret CIA operation in China and points to an informant who has been selling secrets in Hong Kong. Two American agents are deployed, the stage set for a riveting international spy thriller penned by well-known port executive, Peter Levesque. Levesque, who spent more than 25 ...
Diamond Offshore lands $429m semisub deal with Petrobras Houston-based Diamond Offshore Drilling has been awarded a four-year drilling project with Petrobras in Brazil for the 2009-built semisub rig . The New York-listed company said it had received a notification of the award and the new contract is expected to be signed imminently and commence late in the fourth quarter of 2023, after the ...
Shipping announcements coming out thick and fast at COP27 Shipping announcements came thick and fast yesterday from the Egyptian Red Sea resort of Sharm El Sheikh, location for this year's United Nations-convened COP27 climate conference. Grabbing the most headlines was the Green Shipping Challenge, launched by the US and Norway, creating a platform for around 40 commitments to accelerate ship decarbonisation, with US presidential ...
Greece cancels plans to privatise Alexandroupolis port Greece has cancelled the privatisation of its northern port of Alexandroupolis. Greek prime minister Kyriakos Mitsotakis said "geopolitical developments" prompted a re-think of the deal. Situated in northern Greece near the borders with Bulgaria and Turkey, Alexandroupolis has the potential of becoming an energy hub for central Europe with plans to put an FSRU there. ...
Seafarer handed 20-year sentence over fatal stabbing A Filipino seafarer who stabbed to death a colleague on the containership bound for Los Angeles was sentenced yesterday to 20 years in federal prison. Michael Dequito Monegro, 44, had pleaded guilty in May to the crime, admitting to stabbing the victim 31 times. "Monegro stopped stabbing the victim only when he became too tired ...
Green methanol supply slated for Jebel Ali Another green methanol fuel site is set to open at a key maritime gateway. Averda, a waste management, treatment and recycling company, and WasteFuel, a developer of bio-refineries, announced yesterday during the COP27 climate conference, their partnership to develop the first commercial scale municipal waste to renewable methanol plant in the Middle East. The location ...
Massachusetts denies Avangrid motion to delay review of power purchase agreements US power company Avangrid filed a motion in October with the Massachusetts Department of Public Utilities (DPU) seeking a one-month suspension in the department's review of power purchase agreements (PPAs) for the Commonwealth Wind project planned for development south of Martha's Vineyard. The motion said the suspension would enable the parties to examine the effects of inflation ...
Ports of Singapore, Los Angeles and Long Beach to establish green and digital shipping corridor The Maritime and Port Authority of Singapore (MPA), Port of Los Angeles, Port of Long Beach and C40 Cities - a global network of mayors taking action to confront the climate crisis - have begun discussions to establish a green and digital shipping corridor between Singapore and the San Pedro Bay port complex. The corridor ...
Decarbonisation could require 800,000 crew to 'upskill' by mid-2030s Shipping action plan launched at COP27 in response to new research that cautions 'as many as 800,000 seafarers' could require...
Russian sanctions 'upside' drives International Seaways to record quarter The owner and operator of a fleet of 90 crude and product tankers reported record profits of $113.4m for the...
Florida gets hurricane warning as ports brace for storm National Hurricane Center warns of a 'dangerous storm surge' along much of the east coast of Florida and portions of...
Gard warns of deterioration in excess of $200m on previous pool claims World's biggest P&I club looking at 5%-7% target premium increase, which for existing members will largely be cancelled out by...
Fincantieri's former chief Giuseppe Bono dies aged 78 Mr Bono was seen as the main driver of the group's phenomenal growth over the years to dominate cruiseship building
Shipowners' Club opts for no general increase Deductibles set to rise at small craft specialist to compensate for inflation, and superyachts will see 10% price hike, with...
Danaos refinancing extends debt-free fleet tally Greek containership owner posts record operating profit despite market fall from 'stratospheric' levels
Celebratory mood in Hamburg as Eisbeinessen returns after three-year hiatus Hamburg's shipping community convenes to mark the welcome return of the traditional 'Eisbien' celebrations, following a pandemic-induced break, but also...
Norwegian and Japanese firms collaborate on safety culture and loss prevention A safety culture company and an underwriter that have collaborated over the past two years are now taking this to...
DHL raises full-year guidance on strong third quarter DHL has made record operating profits in the first nine months of the year. Even with demand easing it expects...
China's logistics sector raises alarm over Guangzhou lockdown A partial lockdown in the city's Baiyun district, a key logistics and warehousing cluster, is raising concern
Fate of seized tanker pursued by Nigeria raises industry legal and security concerns Case of the VLCC Heroic Idun raises serious concerns across the tanker sector regarding the Nigerian Navy's treatment of crew...
Gard sees investment losses amid better underwriting performance 'Despite market turbulence, Gard remains strong and stable, and we continue to be well positioned to withstand the challenges ahead,'...
Singapore in talks for green shipping corridors to US west coast ports Singapore, Los Angeles and Long Beach are key hubs on the trans-Pacific shipping lanes
DHT Holdings reports 128% jump in spot rate bookings Trade disruptions are increasing transportation distances, and so reducing the productivity of the global tanker fleet, thus driving rates upwards
ICTSI says market remains 'robust despite headwinds' as volumes rise 11% 'We remain mindful of the macro-economic environment and the potential impact this may have on our business but remain confident...
Daily Briefing Seychelles-Georgia-Cameroon dark tanker nexus shifts to Russian crude | Norwegian shipping unites to plot zero-emissions route | COP27 kicks off...
US retailers lower import forecast amid demand decline US containerized imports are expected to decline through the first quarter of 2023 at a faster clip than retailers forecasted just months ago, with consumers concerned over rising prices and interest rates.
Expeditors expects air, ocean rates to continue falling into 2023 CEO Jeffrey Musser said shippers are still sitting on high inventories and so are pulling back on orders after front-loading their shipments from overseas earlier this year.
Port of Liverpool reaches pay deal with dockworkers' union The announced wage deal at Liverpool is welcome news after a series of strikes over the past three months severely disrupted container operations at the UK's key west coast hub.
M&A in US trucking, logistics crosses 'asset lines' US transportation companies with cash on hand are acquiring asset-based truckers and non-asset freight brokers alike to add services and shipper customers and build network density.
Demand slowdown overshadows capacity cuts on Asia-Europe There appears to be little that ocean carriers can do to stem an Asia-Europe spot market in free-fall as economic conditions deteriorate and freight volumes continue to soften.
Trans-Pac blank sailings accelerate as demand withers: Sea-Intelligence The accelerated blankings in the eastbound trans-Pacific come after US imports in September and October "can at best be described as a complete collapse in demand growth," according to Sea-Intelligence Maritime Analysis.
ONE denies new container ship grounded off Brazil The ONE Amazon was reported to have got stuck off Itajai at low tide
'A great leader' in shipbuilding: Giuseppe Bono dies months after leaving Fincantieri Tributes to Italian shipbuilding giant who held the top post at Fincantieri for two decades
Eneti lines up $436m newbuilding loan from two banks amid third-quarter profit Proposed credit facility from Credit Agricole and Societe General will fund 65% of the cost of two WTIVs at DSME
ABS withdraws class from grounded VLCC after US blacklisting Indonesian navy estimates it could take one month to refloat the fully laden tanker
New Fortress Energy to add 7-mpta of supply by 2024 from its FLNG units Wes Edens-led company kicks off construction on its first green hydrogen production plant
Norwegian continues pandemic losses but narrowly beats analyst consensus Owner forecasts financial loss for fourth quarter due to impacts of pandemic and Russia-Ukraine conflict
Performance wins higher rate from Glencore for latest aframax term charter Greek owner adds $2,000 per day to two-year rate it achieved for sistership in October
CJC welcomes master mariner and law graduate to London ranks Henry Andrews and Luiza Zakaib join as trainee solicitors
International Seaways passes a buck to shareholders in 'special' reward One-time $1 dividend comes after second straight record-breaking quarter that still fell short of analyst expectations
Bulker price slide continues as JP Morgan sells capesize in 'very active' market Dry bulk value indices show downward trend as falling spot market weighs sector down
Clarksons says slow-steaming chemical tankers boosted by US exports Market fundamentals remain attractive in a market with fewer product tankers competing for cargoes
Shipping's new-fuels policy puts carbon credibility on the line, says report HMM tops list of 17 shipping companies, but researchers warn that progress is too slow
Shipbuilding grandee Kommer Damen recognised for 60-year career Damen Shipyards chairman receives lifetime achievement award
Fred Olsen's Bonheur back in profit but makes $44m cruise ship provision Norwegian owner sees earnings rise at its wind farm vessel division
Green shipping corridors get big push at COP27 talks Plans emerge to develop zero-carbon routes involving the US, Netherlands, Norway, Singapore and UK
Standard Supply on the hunt for ships after $20m equity raise Oslo PSV owner's private placement was significantly oversubscribed
KARMOL's Brazil-based FSRU receives first LNG to supply powership quartet Small-scale vessel makes initial call on regas unit with long-hauled volumes as Karpowership eyes new European business
Fincantieri writes down $62m amid shipowner credit rating fears New CEO points to brighter future as Italian shipbuilder emerges from tough operating environment
War, casualties and Covid stoke 'risk accumulation' fears for marine insurers Data analysts are helping underwriters understand how massive risk exposures can be triggered by a single event
Star Bulk's carbon intensity rises as charterers demand bulkers go faster Bigger fleet means more emissions, but AER figure is also on the up due to steaming speed
Hoegh Autoliners says car carrier rates still climbing from record highs Norwegian owner sees market characterised by high demand and tight capacity
Sallaum Lines opts for newbuildings amid car carrier tonnage squeeze Owner orders dual-fuel duo in China
Giant new ONE container ship runs aground off Brazil The ONE Amazon got stuck off Itajai at low tide
MR owner TNG backing takeover and delisting bid by Tankerska Plovidba Croatian owner believes it will be business as usual after parent assumes total control
Seafarer jailed for 20 years after stabbing supervisor to death on CP Offen container ship US judge calls attack 'unusually heinous, cruel and brutal'
Buoyed by dry bulk, Norden's Jan Rindbo eyes opportunity in tankers Danish firm will slowly take on more cover for its product tankers
NGM Energy affiliate seizes Chinese general cargo ship in $110m battle over suezmax tanker collision Nicholas Moundreas-led company claims Glory Ships has ignored repeated requests to lodge security for damages claim
South Korean yards hit by welder shortages as fake document scandal exposed Over 1,000 Vietnamese workers have been denied entry to South Korea after false documents were submitted by their labour agencies
South Korean shipyards encounter problems hiring Vietnamese welders Labour agencies submit fake documents to apply for work permits
Roine Ahlquist picked to head-up revived Barber Ship Management Singapore-based manager's new recruit has held a variety of executive and senior leadership roles
Danaos extends runway with $438m loan deal amid record operating profit Container ship owner sees adjusted profit rocket 61.6%, but Zim shares sink bottom line
MOL-Cosco to complete first phase of Qatar's 66-LNG newbuilding line-up Final pieces of $14bn plus Phase 1 mega-project poised to fall into place with order triplet in China
DHT Holdings spot bookings soar 123% following profitable third quarter VLCC owner made 4 cents per share in Q3 and is returning it all to investors under new dividend policy
After steep September slide, US imports stabilize in October Imports remain 7% higher than pre-pandemic levels, with volumes steadying last month after September's plunge.
Emirates to buy 777 freighters in deal with Boeing Boeing and Airbus on Tuesday signed deals to bring more large freighter jets to the market.
Miami to permanently host large air cargo trade show An international trade group settles on Miami as the regular location for its semiannual air cargo expo.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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