Feds offer $40,000 reward for "Fat Leonard" The U.S. Marshals Service and Naval Criminal Investigative Service are offering a combined reward of up to $40,000 ($20,000 from each agency) for any information leading up to the arrest of fugitive
Royal IHC delivers one of a kind converted J-lay vessel to McDermott International Royal IHC has completed a conversion that has transformed a 2014-built pipelay vessel into a J-lay vessel that owner McDermott International says will "redefine what's possible in deepwater construction." Now called the
Fincantieri in four ship, $1.7 billion agreement with Viking Ocean In another positive sign from the cruise sector, Fincantieri reports that Viking Ocean Cruises has signed shipbuilding contracts for the third and fourth of six cruise ships it optioned in March 2018.
RFP out for new NYC Ferry operator The New York City Economic Development Corporation (NYCEDC) has now issued a request for proposals (RFP) seeking an operator for the NYC Ferry public transit system. The RFP comes after New York
Two new gantry cranes to enhance Thessaloniki port's container capabilities Greece's minister of maritime affairs and insular policy, Giannis Plakiotakis inaugurated the two new panamax specially designed ship to shore (STS) cranes, which will operate at the Port of Thessaloniki, the second-busiest port of the country. Thessaloniki Port Authority (ThPA) said the new equipment, with a total value of €15.7 million, provides the ability to directly serve main liner vessels
50% of FFs want to automate container journey monitoring According to a recent poll conducted by container logistics tech company Container xChange, 50% of container users identified monitoring containers' journey from pick-up to drop-off as the operation they would like to automate first. Moreover, the poll found that 59% of companies believe that they do not have full control over their container movements. To address these concerns, on 20 September
Container spot rates on a free-slide The Drewry's World Container Index (WCI) slid another 5.01% to end at US$5,378.68. The fall has been so sharp, such that the Index has shaved off 1,000 points (US$1,000) in under a month. Shipping spot rates from China have been a deterrent factor for the World Composite Index, with rates from China to various trade lines, reporting a 40% dip, annually. What's even more alarming is the way, the r
Port Houston, Shell sign sustainability agreement to explore decarbonisation opportunities Port Houston has agreed with Shell to collaborate to meet the US port's goals in the areas of sustainability, resilience, and carbon reduction. Port Houston and Shell signed a Memorandum of Understanding (MOU) that outlines a shared intention to explore key energy, mobility, and decarbonisation projects that could be implemented at port terminals. "This agreement will help identify new technology
Shanghai and Ningbo ports brace for typhoon Muifa Chinese authorities have begun taking precautions with yet another typhoon approaching the Yangtze River Delta. Barely a week after super typhoon Hinnamnor brushed past Shanghai, Typhoon Muifa is forecast to lash the world's busiest container port and Ningbo, China's second busiest container port, on 14 September. China Meteorological Administration said that Muifa, the 12 th typhoon this year, i
Ukraine war drives port of Constanta rapid container growth Port of Constanta in Romania, which is located at the crossroads of the trade routes linking markets of the landlocked countries of Eastern Europe with the Caucasus, Middle East and Central Asia, became a cargo-transit hub for all kinds of transport including ro-ro, according to a recent report by Informall BG, a cargo analytical bureau in the Black Sea region Under normal market conditions, the
How Does Ocean Freight Shipping Work? Businesses have the option of shipping goods abroad via freight. Ocean shipping has benefited the global economy in several ways. Almost all of the goods we purchase are transported by sea. More than 200 million container ships must be transported worldwide aboard container ships. Every year, trade channels handle the transportation of trillions of tons of products. High-capacity ships that trave
eCommerce Shipping: Main Challenges and Technological Solutions Nowadays, in the eCommerce industry, which is now extremely popular, delivery plays an important role and is the key to good communication between a company and a client. In order for the client to be completely satisfied, it is important not only to provide all the necessary services, but also to make sure that the delivery goes smoothly and without problems. How the customer receives the goods
ICTSI Mexico invests US$8 million in new equipment Contecon Manzanillo (CMSA), International Container Terminal Services, Inc.'s business unit operating at the Port of Manzanillo in Mexico, has invested US$8 million in the addition of four new rubber tired gantries (RTG) to its equipment fleet. ICTSI believes that the RTGs will help speed up container loading and unloading times at the terminal. "With the integration of these RTGs, in addition to
METRANS launches new intra-Europe box rail connection The first container train of METRANS's new service from Ostrava, Czech Republic arrived at the Polish container shipping terminal DCT Gdansk on 6 September 2022. The train is scheduled to run three times a week, with arrivals at DCT every Tuesday, Thursday and Saturday. For DCT this new train connection means that their partners and customers can be offered more cost-competitive and ecologically-
OceanPact scores long-term vessel deal with Petrobras Brazilian offshore vessel owner and services provider OceanPact Serviços Marítimos has entered into a contract with Petrobras for remotely operated vehicle support (RSV) vessel. The 2007-built vessel, formerly Bourbon Pearl, will be going on a three-year charter with fellow state-controlled oil giant equipped with two own remotely operated vehicles (ROVs). "The entry of Parcel ...
PaxOcean seals PSV conversion contract PaxOcean Nanindah Mutiara Shipyard in Indonesia has secured a contract from the country's telecommunication infrastructure company, Ketrosden Triasmitra, for the conversion of the platform supply vessel into a cable layer. Ketrosden Triasmitra turned shipowner earlier this year with the acquisition of the 2003-built laid-up PSV from Oslo-listed OSV operator DOF for around $3.5m. The Panama-flagge
Allseas contracts DEME and Van Oord for offshore pipeline project in Australia Belgium-based marine contractor DEME and its Dutch counterpart, Van Oord, have been awarded a contract by Swiss-based offshore services firm Allseas in support of the Darwin pipeline duplication project, located offshore Northern Australia. The joint venture will be responsible for providing support for the shallow water pipeline installation scope in Northern Territory (NT) waters, including ...
IMO's Carbon Intensity Indicator comes in for further criticism With 111 days until its introduction, critics of the International Maritime Organization's (IMO) Carbon Intensity Indicator (CII) are growing. The CII, which debuts on January 1 alongside the IMO's Energy Efficiency Existing ship Index (EEXI), are the most significant pieces of green legislation from the United Nations body since the 2020 introduction of the global ...
Berge Bulk buys two VLOCs James Marshall-led Berge Bulk has tabled around $98m for two young very large ore carriers sold by Chinese cape specialist Cara Shipping. Brokers note that Berge Bulk has bought the 250,000 dwt Stella Daphne and Stella Isabel, ships that are five and seven years old respectively. The giant bulker pair were built at Beihai Shipyard ...
Money & Ships: The next wave in dry bulk Kicking off a new monthly shipping investment column today, Edward Finley-Richardson considers how to play a possible bounce in dry bulk freight rates. CNBC host Jim Cramer ends his daily show - Mad Money - with a signature saying: "There's always a bull market somewhere". One of the unique pleasures of being a shipping investor, ...
Turkish roro fired on by Greek coastguard Greek coastguard ships shot at a Turkish roro sailing in the Aegean Sea on Saturday. There were no casualties in the shooting 20km southwest of the Turkish island of Bozcaada on Saturday. After "harassment fire" from two Greek vessels, two Turkish coastguard ships went to the area and the Greek vessels left, the Turkish coastguard ...
BW Offshore FPSO gets two more weeks offshore Gabon Norwegian floater specialist BW Offshore has secured a short-term contract extension for its floating production storage and offloading (FPSO) vessel operating offshore Gabon. The extension will see the 1975-built unit stay in production at the Vaalco Energy-operated field from September 20 until October 4 this year, ahead of demobilisation. The Houston-based Vaalco will be replacing ...
Maritime CEO Forum Singapore line-up revealed Packed with a stellar line-up of shipowners, the Maritime CEO Forums are ready to resume after a near three-year covid hiatus. The exclusive, by-invite-only shipowner gatherings are organised by Splash with Singapore and Monaco lined up for this autumn. The full speaker line-up for the Singapore event, due to take place at the iconic Fullerton ...
Minneapolis passes Ship It Zero resolution The Minneapolis City Council last week unanimously passed a Ship It Zero resolution that calls on top maritime import polluters to the US to commit to making all imports to the country on 100% zero-emission ships by 2030. Minneapolis is the third US city to pass a Ship It Zero resolution, following Los Angeles and ...
Petrobras closes sale process for Albacora field Petrobras is closing the competitive process for the sale of the Albacora concession after it and PetroRio were unable to agree to terms. Brazil's state-owned Petrobras now plans to invest in a revitalisation project in the Albacora field, located in the deep waters of the Campos Basin. It intends to develop
Greek standoff with Iran over tanker continues despite stirrings on crew changes Iran is said to have been pushing Greece for concessions beyond the return of an Iranian oil cargo that was...
Sky-high boxship profits set to renew debate on tonnage tax Many governments are on the lookout for ways to fund emergency measures to shield their populations from the impact of...
Greek coastguard allegedly fires on Türkiye-flagged ro-ro ship in Aegean It is the second time the vessel Anatolian has been embroiled in international conflict
Carriers prepare for Liverpool strike With a lack of comparable nearby facilities, the closure of the UK port is likely to have a severe impact...
The week in newbuildings: Gas tanker orders exceed $3bn Newbuilding contracts for 14 LNG tankers and two LPG tankers confirmed last week at South Korean and Chinese shipbuilders
The week in charts: Ukraine grain update | Container spot freight rates slide | Recycling market turns Container spot rates continue their downward trend, Ukraine's Danube ports export more than 4m tonnes of grain, and CMA CGM...
Decarbonisation is underpinned by psychology, not chemistry or physics Europeans and Asians think differently about addressing green issues, although the end-game is the same. Understanding and dealing with contradictory...
World's largest inflatable lifeboat approved for cruise ships British survival technology specialist Survitec says its Seahaven system can be used to evacuate more than 1,000 passengers in under...
Reliance on whistleblowers weighs on US vessel pollution cases Illegal discharges at sea are near-impossible to uncover without whistleblowers, who are entitled to financial awards from the US government...
Tanker owners need not fear Russian oil price cap A reduction in oil prices would be beneficial in a world facing the risk of a global recession, says analyst...
South Korean yards work on technologies to cut emissions DSME aims to commercialise ammonia-powered containerships by 2025. SHI's project will use BASF technology to develop carbon capture on board ships
US Gulf benefits as Europe pivots from Russian crude Changes in European trade flows have altered the dominant types of vessels used in the market, with VLCCs making a...
Daily Briefing Will regulatory correction end the golden age of Chinese leasing? | Box shipping's party draws towards an end | The...
Talks continue as railroads plan to halt operations Shippers are in a wait-and-see mode as the obstacle to a deal with the country's two largest rail unions is about lifestyle concerns rather than compensation, a source close to the negotiations told JOC.com.
Vancouver delays clean truck program amid ongoing pushback About 20 percent of the 1,800 vehicles serving the Port of Vancouver would be phased out under the clean truck program that has been delayed for a second time.
No avoiding container shipping overcapacity: BIMCO Vessel capacity freed up from easing congestion, combined with the sheer size of the orderbook, will be difficult for carriers to manage in a weakening demand environment, shipping association BIMCO says.
Investors skittish on ordering new MPV/HL ships despite strong cargo demand MPV/HL ships could be harder to find in coming years as carriers have difficulty finding funding for new ship orders, despite strong demand and higher rates than they have been able to command for years.
US price cap rules for shipping: 'Perhaps the most complex sanctions regime I have ever seen' Maritime sanctions lawyer says shipping companies and insurers have their work cut out for them
US judge threatens MSC with judgement in dispute with shipper Federal Maritime Commission judge Erin Wirth has asked aggrieved Pennsylvania company to name its price
Low Fidelity: Is giant US investor calling time on faith in dry bulk? Boston-based outfit had built stake through 2021 into early 2022 but has been reducing position in leading owners
Flex LNG executives strike on stock options to cash in on near-record share price Chief executive and CFO sell $3m worth of shares weeks after analysts pointed to little share upside
Capesize bulker spot market may just meet operating costs until end of 2025, analysts say Low spot rates are pushing shipowners to send their vintage vessels to the scrapyard
Uniper teams with Vesta on Dutch green ammonia import terminal Existing Vlissingen facility to be repurposed as future fuels hub
G7 and Russia fight over India in price cap battle Moscow reportedly offers further discounts on its crude to India in return for snubbing G7 plan
Exmar 'actively looking' at newbuildings after booking midsize LPG duo Company is also looking at CO2 transportation leads as it reflects on a busy first half
Dry alliance: Al Seer teams with Singapore's Netbulk to grow bulker fleet Abu Dhabi owner has signed up to carry 5m tonnes of cargo this year as part of wider collaboration
US courts again side with Arka-linked owner in Medmar bunker case Sing Fuels had argued fuel broker was acting on 'apparent authority' of shuttered Greek operator
Bimco: Tanker rates looking solid in 2023 Reshuffling of trade routes following Russia's invasion of Ukraine will be the key driver for 2023 rates, says shipowner organisation
Iran-Greece tanker dispute talks stall amid hardball tactics Moves are afoot to replace some seafarers on the trapped vessels, but talks to release the ships and cargo are bogged down
Euronav and Frontline: merger partners are also long-term investor darlings Two tanker powerhouses whose style may appear outwardly different have things in common where it counts, researchers say
China's Cara Shipping sells last of its VLOC fleet The company is going 'asset light' and is focusing on trading
Turkish tension: Greece fires warning shots past ropax with tragic past The Anatolian is the former Turkish-owned Mavi Marmara on which 10 people died during the Gaza blockade
First incoming German FSRU identified as terminal action speeds up Initial piece for five regas unit puzzle starts to fall into place ahead of winter energy demand peak
Brunswick businesses file claim for Golden Ray disruption Oil pollution and fires caused loss of income, allege claimants
Kristian Siem and Arne Blystad venture lines up $650m for new WTIVs Seaway 7 is being backed by its big shareholders as it gears up for expansion
VLCC rates surge despite Iran gloom Baltic Exchange time charter rates hit highest levels since June 2020 owing to Russia-related trade shifts
Euronav pumps $17.5m into Luxembourg VLCC management unit after loss Tanker giant makes sure equity is positive after tough 2021
Japanese bulker destroys pier in Colombian port Video footage shows ship smashing into concrete structure
Damaged Erik Thun cargo ship towed to safety after collision off Denmark Improved weather allowed a tug to attach a line to the Helge
Capesize bulk carrier demolition deals gather pace as underwhelming earnings drive sales Demolition players rejoice, seeing 'signs of life' at last again in the market
Yangzijiang shares rally as yard edges closer to LNG newbuild capability China's largest privately owned shipbuilder was top traded counter by volume on Friday
VLCC traffic into Europe tops 1bn tonne miles per day, says Poten US broker says tanker market is in for a wild ride as refiners look to replace even more Russian crude supplies
Feds dodging US-flag ship cargo rules, GAO reveals Government watchdogs have found that maritime regulators are unable to effectively track how shipments of military supplies and food aid are transported overseas.
Ethiopian Airlines to inject 1st Boeing 767 freighters into cargo fleet Ethiopian Airlines is adding Boeing 767 freighters in a transaction with Atlas Air Worldwide.
US imports keep chugging along, still up double digits vs. pre-COVID Spot container rates for U.S.-bound cargoes are falling fast, yet import numbers at U.S. ports remain near their peak.
EU certifies 1st light-duty freighter aircraft After months of regulatory delay a new U.K. aerospace company can now go to market with a partial passenger-to-freighter conversion.
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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