OMSA hails USCG release of a roadmap for Jones Act vessels to aid in disaster recovery The Offshore Marine Service Association (OMSA) has praised the U.S. Coast Guard (USCG) for issuing a policy letter(CG-CVC Policy Letter 22-03) that, it says, "provides a transparent and expedited process for domestic
Eastern Shipbuilding to contest OPC Stage 2 award in Court of Federal Claims Eastern Shipbuilding Group (ESG) has not given up its fight against the U.S. Coast Guard's decision to award Stage 2 of the offshore patrol cutter (OPC) program to Austal USA. Although it
OpEd: Knowledge and planning are critical CII and EEXI compliance tools by Simon Hodgkinson, Head of Loss Prevention at West P&I Regulators are hopeful that impending Carbon Intensity Indicator (CII) and Energy Efficiency eXisting ship Index (EEXI) regulations will represent a sea change
Historic low-water conditions continue to impact Mississippi River traffic Impacts to navigation not seen since 1988 continue as low Mississippi River water levels linger. These impacts include barge groundings, lock closures and river cruise cancellations. According to the National Oceanic Atmospheric
Saudi Ports Authority to upgrade Jeddah Islamic Port with new berths The Saudi Ports Authority (Mawani) has signed two contracts worth US$170 million with major contractors in order to deepen and build new berths at Jeddah Islamic Port aiming to enable the arrival of 24,000 TEU container vessels. The two partners will be PC Marine Services and Modern Building Leaders (MBL), the latter in consortium with HutaHegerfeld Saudia Ltd. Through these upgrades, the competi
World Distribution Services opens new distribution facility in Tacoma World Distribution Services (WDS), a provider of warehouse logistics solutions, announced the opening of its new 28,000m² distribution facility in Tacoma, Washington, US. The new facility establishes WDS's west coast footprint and represents its fourth new location in less than two years, in line with the company's commitment to investing in the pacific northwest. "Responding to market demand, as
Global Ports expands VSC equipment fleet Global Ports Group's Vostochnaya Stevedoring Company (VSC) has received ten Kalmar terminal tractors and ten Seacom semitrailers. The equipment was moved from the Group's North West terminal to enhance operational capacities of VSC, which is located in deep-water Port of Vostochny, Primorsky Krai, Russia, amid container market surge in the Far Eastern Sea basin. The vehicles are used to handle co
GTT and CMHI-Jiangsu ink LNG carrier construction deal French LNG containment specialist GTT and China Merchants Heavy Industries-Jiangsu (CMHI-Jiangsu), a subsidiary of China Merchants Industry Holdings (CMI), one of the three major shipbuilding groups in China, have signed a Technical Assistance and License Agreement enabling the yard to construct vessels using GTT membrane technologies. GTT and China Merchant Industry Holdings have been cooperatin
DP World starts new berth construction at London Gateway DP World UK has confirmed the launch of the construction works on a new berth at London Gateway. The new berth will be the fourth one at London Gateway and will be all-electric, according to DP World. This investment, which will cost approximately £350 million (US$385 million) is expected to increase capacity by a third. "Over the next 10 years, we have earmarked a further £1 billion (US$1.1 bill
CMA CGM reorganises BRAZEX services French box carrier CMA CGM announced the launch of its new BRAZEX service setup and the new MANAUS SHUTTLE to improve the connection between the United States Gulf Coast and Latin America & the Caribbean. The new BRAZEX will have improvements to the current BRAZEX1 and BRAZEX2 services with doubled dedicated loops for South Brazil and North Brazil. It will offer direct weekly connection to Cartag
Mundra Port gains Middle East regional connection amid growing volumes Mundra Port, India's top container gateway, continues to ramp up its ocean service network reach. Dubai-based shortsea operator Aladin Express has introduced a second string to its regional operations by connecting Mundra to the Persian Gulf region. The new service, branded as the Gulf-India Express 2 (GIX2), has the following port rotation: Mundra, King Abdulaziz Port, Khalifa Bin Salman Port, H
MSC books a dozen 16,000 TEU vessels at Yangzijiang Yangzijiang Shipbuilding has confirmed that MSC has ordered a dozen 16,000 TEU container ships. The Singapore-listed Chinese ship builder said on 6 October that the LNG dual-fuelled ships, with a total contract value of US$2.16 billion, are among US$2.51 billion of new orders secured between August and early October 2022. The vessels are expected to be delivered from late 2024 to mid-2025 and bri
CMA CGM commences new AMERICAS XL service CMA CGM has announced the launch of its new AMERICAS XL service, offering a direct connection between US East Coast (USEC) and West Coast South America. The French container carrier will be the sole operator of the new service, which will be the only direct one on the market connecting West Coast South America to USEC. AMERICAS XL service will offer direct weekly connection from/to Port Everglade
APM Terminals Gothenburg announces channel deepening APM Terminals has announced that works to deepen the shipping channel in Gothenburg, Sweden are underway and are expected to be completed in 2026. APM Terminals Gothenburg will be able to receive the world's largest container vessels and higher volumes, once the project is completed, according to a statement. Maersk's port and terminal operator said that "volumes passing through APM Terminals Got
OOCL surpasses US$5 billion revenue in 2022 Q3 amid container volume drop COSCO-owned container line Orient Overseas Container Line (OOCL) has announced its total revenues increased by 16.9% in the third quarter of the year, compared with 2021 same period, surpassing US$5 billion. At the same time, the carrier's total liftings and loadable capacity decreased by 3.4% and 1.8% respectively. The overall load factor was 1.4% lower than in the same period in 2021, while ove
Manufacturing Activity Is Declining Across The Globe KGlobal factory output fell in September as soaring energy bills and cost of living pressures resulted in declining demand, Reuters reports. The potential global slowdown has triggered central banks to increase interest rates to reel-in escalating inflation, which, in turn, is expected to create a sudden drop in the global demand underpinning exports. In Europe, manufacturing demand and productio
Future-proofing efficiency Although emissions discussions focus on future fuels that will power shipping cleanly, energy efficiency remains the true and immediate enabler of decarbonisation, writes Aleksander Askeland of Yara Marine Technologies. The pathway to decarbonisation has numerous hurdles including shifting environmental targets, economic recessions, and increased geopolitical uncertainty which affect the availabi
South Africa's exporters brace for major hit as Transnet strike gains momentum Industrial action at South Africa's ports and freight-rail operator Transnet is set to worsen as the second-largest labor union, the South African Transport and Allied Workers Union (SATAWU), downed tools in a dispute over pay. SATAWU and the largest labour group, the United National Transport Union (UNTU), together representing around 80% of Transnet workers, confirmed ...
Strike-hit Liverpool port warns of job cuts Liverpool port is set to restructure its containers division and start a redundancy consultation process, citing a marked deterioration in the volume of containers handled by the port. The second largest port group in the UK, Peel Ports said the move was "extremely regrettable" but unavoidable, due to the economic backdrop caused by an increasing ...
Petrofac bags $60m wells management deal with Dana Petroleum UK energy services company Petrofac has been awarded a $60m contract by Dana Petroleum to provide well management services for all its UK North Sea-operated assets. The contract includes both floating production storage and offloading vessels, the Triton and the Western Isles in the North Sea. The new two-year contract, with options for extension, continues ...
MMA Offshore scores vessel contract with Beach Energy Australian OSV operator and services provider MMA Offshore has secured a vessel contract with fellow operator Beach Energy. The company's 2011-built will provide vessel support to Beach Energy's two production platforms located in the Bass Strait, and also carry out subsea inspection and survey services as well as drilling support. The contract will start in ...
Where's the floor for container shipping? Assessing where the rates floor is in the consolidated container shipping market is keeping experts busy as multiple indices continue to report steep declines. UK consultants Drewry last week lowered its demand outlook for 2022 to 1.5%, and to 1.9% for 2023 on the back of heavily downgraded GDP predictions. "Carriers will have accepted that ...
Shipping traffic halted following Crimea bridge attack Shipping from the Sea of Azov to international markets came to a standstill over the weekend in the wake of the attack that took out part of the bridge linking the Crimean peninsula with mainland Russia. The 19 km bridge, the longest in Europe, straddles the Kerch Strait, which links the Sea of Azov with ...
BP moves to triple its offshore wind staff London-based supermajor BP plans to triple the workforce at its offshore wind business by 2023. According to Bloomberg, the aim is to have about 800 employees next year focused on the company's nascent business to build and operate offshore wind farms, up from about 220 now. BP's current offshore wind projects are set to use ...
Lithuania's Klaipeda looks to become offshore wind hub Lithuanian port city Klaipeda is looking to maximise its strategic location to become a key regional hub for the nascent offshore wind industry in the Baltic amid the current energy crisis. The Marienborg Declaration signed in August saw heads of government and energy ministers from Lithuania, Estonia, Latvia, Finland, Denmark, Sweden, Poland and Germany commit ...
Adnoc Drilling clinches $1.5bn contract Adnoc Drilling has won a new contract worth $1.53bn to support the expansion of Adnoc's offshore operations and crude oil production capacity to 5m bpd by 2030. The two-year contract covers the provision of 12 jackup rigs and two island rigs and the associated integrated drilling services (IDS). The driller in August also secured a ...
China Merchants Heavy Industry enters LNG sector with GTT licence deal More Chinese shipbuilders are moving into the LNG carrier construction arena, with China Merchants Heavy Industry Jiangsu (CMHI Jiangsu) sealing a technical assistance and license agreement with French membrane containment system designer GTT. The deal will allow the subsidiary of China Merchants Industry Holdings, and one of the three leading shipbuilding groups in China, to ...
Aviation sector adds to pressure on IMO with 2050 net-zero vote With two months to go until the 79th gathering Marine Environment Protection Committee (MEPC), the International Maritime Organization (IMO) is facing pressure to up its game when it comes to green targets. Member states at IMO's sister body at the United Nations, the International Civil Aviation Organisation (ICAO), voted last week to adopt a collective ...
GMS flips two out of class VLCCs Older crude vessels are the primary target for buyers of secondhand tanker tonnage. Preliminary information from brokers BRS suggests that September was a record month for tanker sales and purchase transactions with 61 units changing hands for further trading. This consisted of a significant volume of vintage tonnage, including seven VLCCs, five suezmaxes and eight ...
Limassol: Dawn of a European champion Major shipping conference, Maritime Cyprus, is back. Splash identifies how the island has all the right maritime ingredients to prosper. The strategically located island of Cyprus, third-largest in the Mediterranean, has been an important trading hub and point of exchange between different cultures since antiquity, meaning it's no surprise that the country is home to ...
International Seaways ships out 14-year-old MR US owner International Seaways has sold its fourteen-year-old MR to undisclosed buyers amid rising tanker values. Clarksons reported the New York-listed player had landed around $20.5m for the South Korean-built ship without a ballast water treatment system (BWTS), which VesselsValue estimates as worth close to $22.6m. Although High Mars last exchanged hands in 2011 when ...
Rebranded South Korean shipyard seals newbuild orders from Euronav and Atlas Maritime South Korean yard DH Shipbuilding, formerly Daehan Shipbuilding, has recently welcomed two European owners, each placing orders for a pair of tankers. Belgium-based tanker giant Euronav has booked two scrubber-fitted suezmaxes for delivery in the third and fourth quarters of 2024. Financial details have not been disclosed for 157,000 dwt ships, although industry sources are ...
Mississippi River water level at near-historic low, threatening US grain and soybean exports The Mississippi River, which flows through 10 American states on its way from Minnesota in the north to the Gulf of Mexico in the south, is a major maritime highway through the US. That status, however, is currently threatened, as the river's water level is so low in some places that ships are running aground. ...
AMPTC offloads LR2 pair Arab Maritime Petroleum Transport Company (AMPTC) has offloaded a pair of 2008-built LR2 tankers to undisclosed buyers. Multiple brokers reported the en bloc deal for the 112,500 dwt Alburaq and Sea Legend fitted with ballast water treatment systems (BWTS) in the price range of $70m. Both tankers, built by Hyundai Heavy Industries (HHI), are currently ...
US targets North Korean fuel procurement network, imposes sanctions on involved parties The US Department of the Treasury Office of Foreign Assets Control (OFAC) has added two individuals and three entities to its Specially Designated Nationals and Blocked Persons List for their activities related to the exportation of petroleum to North Korea, which directly supports the development of North Korean weapons programs and its military, according to ...
Pair of sail-assisted boxships set to hit the water in 2024 Bahamas-based Veer Corp has received approval in principle (AiP) from the American Bureau of Shipping (ABS) for its new-look containership design, and has stated it now aims to have two of these ships built and in the water by 2024. The 100 m long vessels feature sails as well as green hydrogen fuel cell engines. "Receiving ...
Cyprus seeks closure of oil price cap loopholes to keep maritime cluster competitive 'Sanctions must exclude the possibility of establishing conditions of unfair competition between EU member states and third countries', president tells...
Future fuels are 'fiction,' says Greek shipowner Procopiou "Whether it is hydrogen, ammonia, methanol, batteries - all this is fiction. Not only in my life, but also my...
Battle lines drawn up over consortia block exemption European Commission is already hearing arguments on whether Consortia Block Exemption Regulation should be extended
The week in charts: Russia's outbound seaborne trade stable | LNG orders to peak this year | Tankers switch from Iranian to Russian trade Bulker values begin to stabilise, container demand slows, and LNG deals at $1m a day are possible
Dry bulk spot rates seen stabilising Although nowhere near the spectacularly-high rates of this time last year, earnings are at healthy enough levels. The smaller sizes...
Ukraine grain corridor hampered by inspection delays Bottlecks with the Black Sea Grain Initiative inspections are now exacerbating congestion in the Sea of Marmara
Visual analytics the next step in smart shipping ShipIn Systems has identified computer vision as a gap in shipping's portfolio of smart tech
NorthStandard merger gets regulatory approval Brokers predict further consolidation in sector over course of coming few years
Outlook positive for China Merchants tanker recovery Chinese equity analysts are optimistic about a sustained recovery in tanker markets underpinned by tight vessel supply and sanctions-led trade...
Kerch Strait shipping resumes following bridge blast The Kerch Strait is a critical maritime passage for Russian exports. Traffic was temporarily paused at the weekend after an...
Mental health platform launched for Ukrainian seafarers To mark World Mental Health Day, crew welfare organisation Stella Maris, with funding from law firm HFW, has launched a...
Smart objectives come before smart technology Two trends are flowing through shipping - an increased focus on collecting data and the search for ways to make...
DP World starts London Gateway expansion Container volumes are expected to ease from the peaks of the past two years. But London Gateway wants to build...
China Merchants yard set to enter newbuilding market for LNG carriers CSSC's Hudong-Zhonghua currently dominates the market for large LNG carrier newbuildings in China, but rival yards are catching up fast...
The week in newbuildings: Orders worth $3.1bn signed Orders for six boxships, nine gas carriers and three vehicle carriers confirmed in the past week
Cosco agrees share swap deal with SAIC to enhance partnership Move comes as China's auto industry is experiencing fast growth in exports, while domestic players are seeking to control more...
Daily Briefing Shipping has its part to play on putting pressure on Putin | Russia's boxship trade shifts east | US blacklists...
US truckload spot rates stabilizing after summer slump Spot US truckload rates continued to cool through September, but there are early signs that prices are bouncing back in October.
CMA CGM revamps US-Latin America network amid transshipment delays CMA CGM will reconfigure its current services connecting the US Gulf with Brazil in November and commence a new string between the US East Coast and West Coast of South America in December.
Procurement adaptability trumps truckload pricing predictions: software providers Shippers need to rethink the entire truckload procurement process, not just use technology that marginally decreases costs by relying too much on predictive pricing, according to a trio of procurement technology experts.
End shipping's EU 'safe harbor' block exemption: German regulator The German Federal Cartel Office argues that large container carriers do not satisfy "with a sufficient degree of certainty" the conditions required for their exemption from European competition law.
New federal tax levy frustrates Indian exporters Major container lines serving Indian trades, including MSC and Maersk, have advised exporters they will begin charging a new freight tax that went into effect Oct. 1.
A red Monday for bulker futures as 'rock bottom' sentiment fuels FFA plunge Outlook for the first quarter has not been this bad for the first quarter since the autumn of 2016
Regulatory approvals roll in for merger of P&I mutuals North and Standard Club Approvals keep two insurers 'on course' for merger into mutual with $750m of annual premiums
Clarksons says container ships not yet 'cheap' despite slump Trevor Crowe says freight and charter numbers still well above pre-pandemic levels
From Opec to 'Nopec': will US clear path to oil market flood? Poten & Partners says production cut makes antitrust legislation by the Biden administration more likely
Shipping containers 2.0: How cakes and crime are redefining the metal box Real-time tracking and improved security are driving improvements in the sector, say a new wave of innovators
US strategic oil release adds extra 1m barrels to export slate Analysts expect more to come as Biden administration responds to Opec output cut
Stolt-Nielsen faces 'tough decisions' on new chemical tanker orders Boss Niels Stolt-Nielsen says company will be ready when new zero-carbon options are available
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
Cyprus fires shot across the bow on anti-Russia sanctions Shipping heavyweight Cyprus warns that a cap on the price of Russian oil needs global application to be effective
Tanker turns up for dinner in near miss at Thai restaurant The Smooth Sea 18 managed to halt its progress just in time
China Merchants Heavy Industries-Jiangsu gears up to build LNG carriers Another Chinese shipbuilder signs a license agreement with French membrane-type cargo containment designer GTT
Pilot facing ban after Spanish tanker hits bridge in Guyana Investigation begins after the Tradewind Passion takes out part of the Demerara Harbour Bridge
Ravi Mehrotra's Foresight linked to VLGC buy with more deals likely TransPetrol's Progress is said to be joining the fleet of the London-based group as expansion continues
Norway's TECO gets the chemistry right at a milestone party in Singapore Friendships were renewed and experiences shared as the marine chemicals company showcased its latest developments
'You ain't seen nothing yet': A bullish Stolt-Nielsen says chemical carriers may be recession-proof Norwegian CEO argues that only a total global meltdown can wreck the sector's prospects now
Shell LNG deal to earn $120m profit despite $400,000 rate for Angelicoussis carrier Oil and gas major is said to be taking advantage of the spread between European and US gas prices to import LNG cargo to France
Clarksons opens new specialised products desk in Tokyo Former Odfjell commercial manager in Japan jumps ship to join world's largest shipbroker
Shell LNG deal to earn $120m profit despite $400,000 rate for Angelicoussis LNGC Oil major said to be taking advantage of spread between European and US gas prices to import cargo to France
Port Houston orders $106M worth of cranes to handle demand Port Houston recently ordered 29 container cranes for a total of $106.1 million.
US imports sink in September, suffer steepest drop since 2020 lockdowns Demand for Asian goods began dropping earlier this year. This is now having a delayed - and highly negative - effect on U.S. imports.
Chinese e-commerce logistics company Zongteng launches cargo airline China-based Zongteng Group has acquired a large cargo jet to enhance its global e-commerce logistics distribution capabilities.
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