Congestion issues getting resolved as schedule reliability improves
"National Association of Container Freight Stations (NACFS) is confident that the National Logistics Policy will reduce logistics cost"
Standard operating procedure consequent to commencement of "Document Processing Area" in the Central Parking Plaza and gate automation for export-creation of Buffer Yard in CPP
PSA Mumbai flags off first ever rake to Cochin
P. L. Haranadh given additional charge as Chairperson of Syama Prasad Mookerjee Port Authority
India's membership of Quad seen raising trade, investment flows
SCI & MoPSW ink MoU for 2022-23
DPA creates new record by berthing maximum draught vessel
Europa Terminal renewal at Antwerp
Phoenix Shipping & CONCOR flag off direct container train service from Kandla to Goa
APM Terminals Pipavav follows transparent vendor on-boarding process
Rates falling as market turning much quicker than anticipated
AMNS Shipping & Logistics acquires two Kamsarmax bulk carriers
Palm oil imports up
Trial run of freight train on Eastern Dedicated Freight Corridor
Export slowdown seen as reflection of toughening global trade conditions
Birdon America wins Waterways Commerce Cutters contract The Coast Guard has awarded Denver-based Birdon America, Inc. a subsidiary of Australia's Birdon Pty Ltd, a contract for the detail design and construction of its Waterways Commerce Cutters (WCC) program's river
Sweden orders 4 autonomous hybrid-electric ferries Making what it says is its ferry operation's biggest investment ever, the Swedish Transport Administration (Trafikverket Sweden) has awarded Hardinxveld-Giessendam, Netherlands, based Holland Shipyards a contract for up to four hybrid-electric car/passenger
Bid protest withdrawn, Austal USA gets go ahead for OPC stage 2 The Coast Guard yesterday issued a notice to Austal USA, the offshore patrol cutter (OPC) Stage 2 contractor, to proceed on detail design work to support future production of OPCs. The Coast
Port of Liverpool warn of job losses The Port of Liverpool has announced its plans to restructure its containers division and will next week start a redundancy consultation process. The major container port in the United Kingdom said the decision was "extremely regrettable but now unavoidable, given the economic backdrop". "The unitised cargo market is experiencing a significant decline in volume due to several factors which underpi
South Korea's Minister: HMM divestment depends on market conditions South Korea's Minister for Oceans and Fisheries Cho Seung-hwan said on 6 October that stock market conditions and the shipping cycles would determine when the state should dispose of its interest in the country's flagship carrier HMM. The last two years brought record profits for HMM as container freight rates rocketed to all-time highs, resulting in calls for the company to come off government s
Port of Antwerp-Bruges, PSA Antwerp give green light for box terminal renewal Port of Antwerp-Bruges and PSA Antwerp approved the renewal of the quayside and terminal at Europa Terminal. The works, which will take about nine years and be carried out in three phases, will ensure that the latest generation of container ships can continue to call at Antwerp, Belgium, according to a statement. Port of Antwerp-Bruges and PSA Antwerp are expected to invest in the renewal of the
CMA CGM to launch new service linking Morocco, France and Spain CMA CGM - Short Sea Lines Division has announced its new butterfly MOROCCO SHUTTLE service launching from the 45th week of the year between Morocco, France and Spain. This new weekly service will start ex Agadir on 10 November and will assist in the implementation of a sustainable maritime bridge between Agadir & Port Vendres for the upcoming fruit & vegetable campaign. The French carrier said th
CMA CGM: No single fuel can achieve carbon zero French shipping giant CMA CGM believes that there is no one fuel that can achieve the industry's move towards decarbonization in 2050, and that all eligible fuels should be explored. Speaking at the Singapore International Bunkering Conference today (7 October), CMA CGM's Vice-President for Bunkering and Energy Transition, Farid Trad said, "We're investing in assets, ships, in efficient vessels t
Port of Long Beach joins hydrogen fuelling alliance To advance its zero-emissions goals, the Port of Long Beach (POLB) has joined the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a public-private partnership formed to help capture newly available federal funding to assist in developing a robust renewable hydrogen market in California, United States. ARCHES will serve as an applicant for California's bid to win funding for a hydro
ONE along with partners continue discussions for Atlas Corp. acquisition Poseidon Acquisition Corp., a consortium composed of Ocean Network Express (ONE), Atlas' board chairman David Sokol, affiliates of Fairfax Financial Holdings Limited and the Washington Family, believes it has made "significant progress" in its discussions with the special committee of the board of directors of Atlas to acquire all of the outstanding common shares of Atlas , that the Consortium do
Maersk and JCB ink multi-year partnership deal Maersk has announced a new multi-year partnership with JCB, one of the world's largest manufacturers of construction and agricultural equipment and related services. Under the agreement, Maersk will become the new global Lead Logistics Provider (LLP) for JCB, one of the largest privately-owned companies in the United Kingdom. Maersk will offer end-to-end supply chain management services and manag
Hapag-Lloyd revises CGX service port rotation German carrier Hapag-Lloyd has upgraded its China-German Express (CGX) service with the expansion of the port coverage, which will now include the ports of Shanghai and Antwerp with the latest one replacing Le Havre port. The new CGX port rotation will be effective in November. Hapag-Lloyd's China-German Express (CGX) service port rotation Hapag-Lloyd has published the following transit times of
Searchlight Capital buys into Synergy New York-based private equity firm Searchlight Capital Partners has bought into Singapore shipmanager Synergy Marine Group. Searchlight did not disclose the terms of the deal, except that it involved a minority ownership stake in the Rajesh Unni-led group. Founded in 2006, Synergy has grown to become the world's fourth-largest shipmanager, with a global network of ...
Yangzijiang Shipbuilding bags 22 newbuild orders Chinese shipbuilder Yangzijiang Shipbuilding has sealed new shipbuilding contracts for 22 vessels worth around $2.5bn, taking its total orderbook over the $10bn mark. The orders are made up of twelve LNG dual-fuel 16,000 teu containerships, linked to Soren Toft-led Mediterranean Shipping Company (MSC) and ten bulk carriers, consisting of four 32,000 dwt and six 66,000 ...
Himalaya Shipping fixes newbuilding pair on long-term charters Tor Olav Troim-backed Himalaya Shipping has sealed time charter deals with one of the major commodity companies for two newcastlemax dry bulk carriers currently under construction in China. The Oslo-listed company has 12 LNG dual-fuel ships set to deliver from New Times Shipyard between the second quarter of 2023 and the fourth quarter of 2024. ...
Kim Heng clinches $35m in Taiwanese vessel contracts Singapore offshore vessel operator and marine engineering services provider Kim Heng is looking at $35m in new contracts secured by its subsidiaries in Taiwan. The company's units Kim Heng Marine & Oilfield, Khan Hin Engineering and Bridgewater Marine, in which it holds a 49% stake, have been awarded $17.3m, $14.6m and $3.1m worth of contracts ...
Yinson secures $720m deal to finance Petrobras FPSO project Malaysian FPSO operator Yinson has secured a $720m syndicated loan facility ("Facility") for a floating production, storage and offloading (FPSO) Maria Quitéria project in Brazil. The six-year limited recourse loan will be used to support the ongoing construction of the FPSO, which was awarded by Petrobras in November 2021. The group's Netherlands-based subsidiary, Yinson Bergenia ...
Maritime CEO Forum Singapore: China the big known unknown when it comes to dry bulk Shipping must prepare itself for market conditions in which Chinese dry bulk imports will peak very shortly, delegates attending last week's Maritime CEO Forum in Singapore were told. Concluding the half-day event, a high-level panel representing different strands of the segment took the stage for the forum's wide-ranging dry bulk debate, moderated by Punit Oza, ...
California, Oregon, Washington and British Columbia vow to tackle shipping's carbon footprint The governors of the American west coast states of California, Oregon, Washington along with the premier of British Columbia are joining forces to promote a low-carbon society, with shipping and ports very much part of the planning. "Rapidly accelerating climate change threatens our communities along the Pacific Coast of North America with cascading impacts to ...
Floatel International seals Equinor contract extension Offshore accommodation vessel owner Floatel International has secured another contract extension from Equinor for the . The 2010-built semisubmersible unit will continue to provide offshore accommodation services at the Grane field in the Norwegian North Sea until the end of this year. The vessel was last month extended until November 15, together with the 2015-built ...
Russian exports show no sign of slowing despite new EU sanctions Yesterday saw the European Union adopt an eighth package of sanctions against Russia for its aggression against Ukraine, including targeting the nation's class society. However, trading volumes in dry bulk and oil show the Russian export machine is working around the clock to deliver ever more cargoes of energy. According to Banchero Costa, Russia is ...
Police take down criminal network moving tonnes of cocaine through the port of Gioia Tauro With the support of Europol and Eurojust, the Italian Financial Corps has dismantled a criminal network which relied on corrupt workers in the port of Gioia Tauro to smuggle hundreds of millions of euros' worth of cocaine into Europe. Yesterday, saw some 300 police officers carry out coordinated raids against the members of a criminal ...
Sokol's consortium making 'significant progress' towards acquiring Seaspan's parent The consortium aiming to purchase Atlas Corporation has said in an update today it is making "significant progress" in the buyout of the group, which includes Seaspan, the world's largest boxship tonnage provider. In August Japan's Ocean Network Express (ONE) joined a coalition of controlling shareholders in New York-listed Atlas Corporation to make a buyout ...
Car carriers race to new rate highs This year has seen record rates for many ship types with containers and LNG grabbing most headlines. Also cruising to new highs are car carriers, with analysis suggesting this niche trade is set for a very solid 2023 too. The car carrier market went into overdrive in mid-August, after Nissan extended its $100,000 a day ...
Green shipping: Regulation, enforcement, and leadership Claas Ringleben from the Liberian Registry writes for Splash today. Last week's World Maritime Day saw the International Maritime Organization celebrate new technologies for greener shipping. The green tech ambition is, of course, part of a much wider effort to reduce emissions and promote sustainability initiatives across the shipping industry. However, while there is increasing ...
Canada's Ocean Group acquires Verreault shipyard Quebec-based Ocean Group has acquired one of Canada's largest shipyards from Groupe Maritime Verreault. The Verreault shipyard, located close to the mouth of the St. Lawrence River, specialises in ship repair and modifications. With this transaction, Ocean Group also acquires the two Verreault shipyard tugs that currently provide services at the Les Méchins and Matane ...
BOEM environmental review gives wind leasing offshore California the green light The US Bureau of Ocean Energy Management (BOEM) has completed its environmental review of potential impacts from offshore wind energy leasing activities in the Morro Bay wind energy area (WEA), located 20 miles offshore central California. The environmental assessment (EA) was undertaken with close coordination and engagement with the State of California, the Department of ...
US blacklists sanction-busting shipowner supplying fuel to North Korea US seeks to apply pressure on North Korea's military after its recent launches of long-range ballistic missiles, targeting a network...
Shipping has its part to play in putting pressure on Putin Sanctions are always a blunt instrument. But even blunt instruments are better than doing a job with no tools at...
Container demand figures show downward trend Container volumes have come off their all-time highs from 2021 but remain strong. Nevertheless, the pressure is now being seen...
Himalaya Shipping seals long-term charters for newbuildings The Tor Olav Trøim-controlled company has secured index-linked charters at 'a significant premium' to the spot capesize Baltic 5TC index rate for...
Equity investor acquires minority stake in Synergy Marine Group Synergy wants to explore an operating model driven by value for clients rather than the current vendor mindset. Searchlight says...
Russia's boxship trade shifts east The downward trend in containership arrivals in Russia, which was caused by the withdrawal of services by major container lines...
Owners switch cargoes to grains to exit Ukraine ports Two Greek companies and a Japanese owner have managed or are in the process of switching cargoes after their ships...
Carbon capture seen as a crucial mid-term solution The maritime sector will not be able to meet the IMO's 2030 and 2050 targets if there is zero support...
Intertanko calls for urgent IMO intervention to keep steam-driven LNG carrier fleet trading Demand for steam-driven fleet that comprise 35% of LNG carriers on the water already poor despite positive trading conditions
Calls for regulators to set clear long-term targets for shipping safety Representatives from shipmanagement, class, technology providers and maritime law share opinions and suggestions
First vessel powered by hard sail wind propulsion enters operation The construction of the vessel was financed by a sustainability-linked loan from Sumitomo Mitsui Banking Corp
UK Maritime & Coastguard Agency appoints interim chief executive Interim chief executive Damien Oliver joined the UK Maritime and Coastguard Agency in 2001. He has held several high-profile roles in the...
Liverpool warns of jobs cuts on volume downturn With UK demand set to fall as inflation bites, Liverpool is already seeing a 'marked deterioration' in volumes. It is...
LNG carrier orders expected to slow from this year's peak An overdraft of orders this year could add pressure to the newbuilding markets in the immediate future. As shipowners await...
Yangzijiang order for 22 newbuilds pushes orderbook to record $10.3bn China-based shipbuilder Yangzijiang has moved into the liquefied natural gas segment. Fresh from its recent tie-up with gas containment systems...
Progress made in talks to take Seaspan private Chairman and owners of Atlas want to take the company private. While progress has been made, it still faces 'significant...
Ammonia's potential as a future fuel hindered by economics To enable ammonia to realise its potential as future fuel, there needs to be investment to make production scalable. For...
Malta hosts meeting of minds between industry and regulators Shipping decarbonisation needs global approach 'otherwise you are just pushing emissions to a different part of the planet', says transport...
US for-hire trucking employment takes a plunge Real, unadjusted jobs in trucking dropped by 21,200 in September, an unusually high number, as contract and spot truckload rates declined.
US retailers downgrade import forecast for balance of 2022 US retailers are forecasting declining imports through the end of the year even though holiday merchandise sales are expected to be strong.
US imports will drop sharply through end of year: retailers US retailers are forecasting declining imports through the end of the year even though holiday merchandise sales are expected to be strong.
GT USA faces board shake-up amid planning for new Wilmington box terminal Port of Wilmington operator GT USA saw a major shake-up of its board as insider directors were ousted amid rising operating costs and loss of a major lawsuit.
OOCL posts strong Q3 revenue growth despite volume, rate declines Rates and volume on the major trade lanes out of Asia fell during the third quarter, but not enough to slow OOCL's revenue growth.
Strike-hit Port of Liverpool to cut jobs amid volume drop Container throughput at Liverpool has fallen, and with the decline in volume expected to continue through the year the port is planning to cut its headcount.
Strike-hit Port of Liverpool to cut jobs Container throughput at Liverpool has fallen, and with the decline in volume expected to continue through the year the port is planning to cut its headcount.
Peak season hopes fade for 'jumpy' air cargo market Demand for air cargo declined through September, and analysts say there is nothing in their data to indicate a pickup in volume out of Asia through the balance of the year.
Glut of new ocean tonnage inbound as global demand weakens More than 5 million TEU of ordered container shipping capacity will be delivered over the next two years, outstripping demand as the global economic outlook darkens.
Farrow Announces Acquisition of USA-Based DJ Powers Customs Brokerage and Freight Forwarding Company October 6, 2022 Russell A. Farrow (U.S.) Inc. (Farrow) is pleased to announce the acquisition of DJ Powers Co. Inc. (DJ Powers), effective August 31, 2022. DJ Powers - based in Savannah, Georgia - is a long time, reputable customs brokerage and freight forwarder company that has been an eastern U.S. leader in international trade since 1930.
Wanted Singaporean shipowner added to US blacklist for North Korea dealings The FBI is already looking for Kwek Kee Seng, who ended up sanctioned by the US on Friday
Tanker activity slows, though brokers see a reversal in the works Fixing activity should pick up next week, helping both crude and product tankers, Gibson Shipbrokers says
OOCL's quarterly revenue surges by $730m even as cargo volume dips Top-line result for liner operator defies drop in volume and declining spot freight rates
Supramax bulker spot rates on US Gulf Coast set to plateau as grain orders slow, broker says All four bulker sizes saw average spot rates rise throughout past week, according to Baltic Exchange data
MOL nets second transition-linked loan as first wind-powered bulker delivers World's first telescopic sail to be see action on maiden voyage to Australia
Private equity player Searchlight takes stake in Synergy Marine Synergy Marine has handed round shares to employees at the same time as private equity fund Searchlight takes a minority stake
Jefferies slashes Zim's price target in half over impending rates weakness But 'hold' rating maintained as Israeli liner company should have plenty of cash to see it through market correction
Excelerate Energy selects FSRU schemes with care amid demand surge US-listed regasification specialist is finally galvanised into fleet renewal and expansion as it responds to Europe's energy crisis
Unipec loses fight with terminal over contamination 'near misses' China's Unipec, the world's largest crude tanker charterer, has lost a $20m battle with the tank farm where it hoards US crude during 'super contango'
Editor's selection: Overcapacity haunts container ships, Euronav sells oldies and Cargill criticises carbon rules A selection of some of the stories that caught our eye this week
Trafigura wins damages for lost earnings after VLCC arrest Miracle Hope was held for two months in Singapore in 2020 after ownership dispute over 1m barrel cargo
Meteoric LNG carrier rate rise powers on upwards to hit new record highs Trader pays $200,000 per day to take a 20-year-old steam turbine vessel on spot charter
Turkish owners regain their appetite for bulk carriers in S&P spurt Players on the Bosphorus have been particularly active in the recent revival of dry bulk S&P
Seacor Marine banks $66m from selling out of Mexican owner Mexmar US group also refinances its main 2023 debt maturities in 'improving cycle'
Grimaldi enters Greek port business with state terminal buy Italian-led shipping major to spend €84.7m on western Greek ferry terminal
Vortexa says EU ban could boost MR demand by more than 1,000 tankers But analyst Ioannis Papadimitriou warns a halving of Russian exports could shrink vessel requirements instead
CJC welcomes back Harry Savva from Union Maritime as part of UK strengthening Law firm also boosts maritime team with North of England solicitor Neil Jackson
Concordia says MR tanker term market dips but asset prices double 2017 level Swedish owner sees strong volatility ahead in uncertain times
'Ready to go': shipping market now right for Stolt Tankers IPO But boss Niels Stolt-Nielsen says debt levels in remaining group have to be adjusted before spin-off goes ahead
Daewoo Shipbuilding ends LNG carrier newbuildings contract The company that ordered the two 174,000-cbm LNG carrier newbuildings failed to issue corporate guarantees for the ships
Rising star consultants get 24 hours to tell Odfjell's Harald Fotland how to run his business Tanker and terminal owner Odfjell is getting competitive advice on its corporate strategy for digitalisation and decarbonisation
Clarksons warns high gas prices could lead to some ammonia production shut-down Delivered price being outstripped by production costs, UK shipbroker says
Maersk and Viking laying up ships again in 'fickle' North Sea AHTS market Brokers report two vessels added to stacked list as rates fall from record summer peak
Himalaya Shipping fixes out first newbuildings over three years at 'record rate' Oslo-listed owner says newcastlemaxes will earn a significant premium to Baltic Exchange index
Kim Heng scores $35m vessel supply contract from Taiwanese offshore wind project Company to build vessels required for offshore renewables project at its yards in Singapore
Rising star consultants get 24 hours to tell tanker owner Odfjell how to run its business Tanker and terminal owner Odfjell is getting competitive advice on its corporate strategy for digitalisation and decarbonisation
Consortium holds firm on offer price for Seaspan parent Atlas Corp Meaningful progress in quest to buy over major tonnage provider, consortium says in latest update
Three more charged over Shell marine gasoil theft in Singapore Singaporeans charged over corruption and bribes to stay out of country during police investigation
BHP looks to solar to help decarbonise world's largest iron ore export facility Mining giant to make use of Pilbara's record as one of the sunniest regions in Australia
Yangzijiang Shipbuilding secures 22 newbuildings worth around $2.5bn The Singapore-listed shipbuilding company has crashed its annual target, netting 180% or $3.6bn worth of orders so far this year
Tonne mileage boost for product tankers after China eases quotas Shipowner group Bimco says increased Chinese diesel production could replace lost Russian barrels in Europe
South Korea's oceans minister consulting over HMM sell-off, but no green light yet Cho Seung-hwan says privatisation of boxship and VLCC owner will depend on shipping and stock markets
Liner contract rates expected to 'reset' lower in 2023 on back of falling spot market Lower port congestion and consumer demand for boxed goods are hurting spot freight rates, market analyst says
FMC proposes tighter container billing standards Ocean carriers will be subject to stricter requirements when they charge shippers fees on late containers if a proposed rule is adopted.
Air Canada Cargo adds Boeing freighter, expands to more US markets Air Canada is giving shippers more airfreight options in the Americas, thanks to a new converted freighter.
Truck transportation jobs walloped in September: BLS data Truck transportation jobs in September dropped by an amount exceeded in the last 10 years only by the start of the pandemic.
Air cargo peak season evaporates on low demand, high capacity Air cargo professionals figured business would take off after the summer lull. Turbulent economic conditions and pre-buying have prevented that so far.
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