Ports America and MSC commit $800 million to new Port NOLA terminal project Louisiana Gov. John Bel Edwards has announced a historic public-private partnership between the state of Louisiana, the Port of New Orleans and two leading terminal operators to build a $1.8 billion state-of-the-art
Provaris Energy moves ahead with compressed H2 carrier plans Any transition to a green hydrogen economy will require the seaborne transformation of large volumes of hydrogen and Australia's Provaris Energy Ltd (ASX: PV1) believes that shipping it in compressed high purity
Maersk announces CEO transition After 11 years at the helm of A. P. Møller - Mærsk A/S, Søren Skou will step down as CEO on January 1, 2023. He will be succeeded by Vincent Clerc, currently
White Paper: Five key steps to electric ship design There is a sense of urgency for the marine industry to become more environmentally friendly. One potential strategy for doing so is exploring alternative fuel and propulsion systems. In this white paper,
Wan Hai starts bidding process for demolition sale of ten boxships Wan Hai has put ten container vessels up for demolition sale, announcing that potential buyers can join the bidding process. The Taiwanese container carrier aims to sell six 1,368 TEU ships, Wan Hai 215, 216, 221, 222, 223 and 225, and four 1,088 TEU ships, Wan Hai 161, 162, 163 and 165. Explaining the process, Wan Hai said, "The interested Bidder submit price for demolition Sale and shall be dee
Maersk adds King Abdulaziz Port in Shaheen Express service The Saudi Ports Authority (Mawani) announced the addition of King Abdulaziz Port in Dammam, Saudi Arabia to Maersk's Shaheen Express service. The weekly service links King Abdulaziz Port to regional hubs such as Jebel Ali in the United Arab Emirates and Mundra and Pipavav in India with the container ship Big Dog, which has a carrying capacity of 1,740 TEUs. According to MAWANI, several shipping l
Marlink to deploy hybrid connectivity solutions on MOL vessels Marlink, the smart network solutions company, will deploy its hybrid connectivity solutions on selected vessels operated by Japanese shipowner Mitsui O.S.K. Lines (MOL), integrating Starlink LEO with its Sealink GEO VSAT service and its digital platform. MOL's purpose is to verify how Marlink's unique network can enhance operating safety and improve high-speed communications for seafarers. Starli
Box numbers could rebound in 2023 with inventory replenishing If the current decline in freight rates is due to inventory correction, then there could be a recovery in cargo volumes in 2023 as retailers strive to restock. Writing in a Baltic Exchange commentary, Lars Jensen, CEO of container shipping consultancy Vespucci Maritime, stated that figures from Container Trade Statistics showed a dramatic downturn in September. Looking purely at the amount of TEU
PSA Mumbai in India's Nhava Sheva expands network reach via new intra-Asia service addition PSA International-operated flagship Bharat Mumbai Container Terminals (BMCT) in India's Nhava Sheva Port (JNPT) continues to expand its ocean network reach on the strength of greater productivity levels and superior harbour infrastructure. The latest win is an intra-Asia weekly call jointly led by Cosco Shipping, KMTC, T.S. Lines and Emirates Shipping Line. The consortium has shifted calls of the
Ningbo's box throughput exceeds total container volume of 2021 Ningbo Zhoushan port has moved container volumes of more than 31.08 million TEUs from 1 January to 27 November 2022, reaching the total box throughput of the last year. The picture shows the large screen of the dispatching and command center of Ningbo Zhoushan Port According to the major Chinese container port, since the beginning of this year, the port has overcome the impact of adverse factors
HOPA Ports inks head lease with MANA for industrial lands on Hamilton Hamilton-Oshawa Port Authority (HOPA) Ports and Max Aicher North America (MANA) announced the completion of a head lease which will allow more extensive investment and development on MANA's Hamilton bayfront property in Canada. HOPA and MANA have been working together since 2020 on various industrial uses for a 242,800m² parcel at Pier 18 on Hamilton Harbour. The site is located in the northeast
Maersk appoints new CEO: Skou hands the baton to Vincent Clerc Vincent Clerc will be the new chief executive officer (CEO) of the Danish shipping company A. P. Møller - M'rsk A/S, replacing Soren Skou who will step down after almost seven years. Vincent Clerc, currently CEO of Maersk's ocean & logistics business, will succeed as CEO of the Copenhagen-based firm effective from 1 January 2023. "For almost seven years I have worked together with my team to chan
Gasunie and VTTI look to increase Dutch LNG import capacity Dutch state-owned energy network operator Gasunie and VTTI, the energy and chemicals storage unit co-owned by Vitol, IFM and ADNOC, are looking to develop additional storage and import capacity for liquefied natural gas (LNG) in the Netherlands. Gasunie said it intends to temporarily expand its existing LNG facilities in Eemshaven and Rotterdam, but is also ...
Compressed hydrogen carrier design gets stamp of approval Australian hydrogen shipping start-up Provaris Energy, formerly Global Energy Ventures (GEV), has secured design approval from the class society American Bureau of Shipping (ABS) for its 26,000 cu m compressed hydrogen carrier. In 2021, the ASX-listed company received ABS approvals in principle for the 26,000 cu m ship dubbed the H2Neo and the larger 120,000 ...
Havfram makes WTIV newbuild move as Sandbrook brings in another $250m Norwegian offshore wind contractor Havfram has kicked off the construction of its first offshore wind turbine installation vessel at CIMC Raffles Shipyard in China. The Oslo-based company has secured an additional $250m in equity funding from its majority shareholder, Sandbrook Capital, in partnership with Canada's PSP Investments, which, in addition to credit financing, will help ...
DEME joins Moray West wind farm project Belgian marine contractor DEME will be returning to the Moray Firth region after landing a contract for Scotland's 882 MW Moray West offshore wind farm. Moray West is part of the portfolio being developed by Ocean Winds, a 50/50 joint venture owned by EDP Renewables and Engie. The contract follows the successful completion of Moray ...
Odfjell Drilling and CIMC add to semisub backlog Oslo-listed semisub player Odfjell Drilling has sealed a two-well contract extension with Neptune Energy for the rig. The 2019-built semisub, owned by CIMC Raffles Offshore, will start the contract in Norway in direct continuation of the two wells contracted and set to start in the third quarter of 2023. The campaign is estimated to take ...
New board proposed for DOF A new board of directors has been proposed for the financially troubled Norwegian offshore vessel owner and operator DOF. In addition to Leif Salomonsen who was put forward by the company's minority shareholders as the new chairman, four new candidates have been presented ahead of the general meeting to be held later this month. Beatriz ...
Solstad Offshore sells CSV out of offshore sector Solstad Offshore has sold its offshore construction support vessel. The Oslo-listed OSV owner and operator said its subsidiary Normand Ships offloaded the 2013-built vessel to an unnamed buyer outside the offshore sector. Delivery is expected in the first quarter of 2023 and Solstad should recognise a gain on the sale of around $42m in ...
Turkish tanker logjam eases There are signs that the tanker logjam in and around the Bosporus is easing with another four tankers set to pass through the busy straits today. Ankara's decision demanding that all tankers from this month must carry a letter of insurance when transiting Turkish waters had seen many ships backing up outside the Bosphorus and ...
Plans unveiled for the world's largest wave power plant in Turkey Swedish-Israeli developer Eco Wave Power has inked a deal with Oren Ordu Enerji in Turkey for the potential construction of the world's largest-ever wave power plant. "This relationship will allow us to provide clean electricity from Turkish waves, for the very first time. With ambitious sustainability goals and regional proximity to our headquarters, Turkey is ...
Soren Skou to be replaced by Vincent Clerc at Maersk After nearly seven years in charge, Soren Skou has announced today he will retire as CEO of A. P. Møller - M'rsk at the end of this year, handing the baton to Vincent Clerc, the current CEO of the company's ocean and logistics business. Robert Uggla, chair of the board of directors, praised Skou's nearly ...
Japan's first offshore solar project presses ahead Dutch-Norwegian floating solar specialist SolarDuck and its Japanese partners, Tokyu Land Corporation and Everblue Technologies, are pressing ahead with a project that will see Japan's first offshore floating solar array and automated sailing boat technology demonstrated in Tokyo Bay. The project, selected in the field of "cutting-edge renewable energy," is part of a Tokyo government ...
MEPC 79 starts in London Delegates from across the world will attend the 79th gathering of the Marine Environment Protection Committee (MEPC) at the London headquarters of the International Maritime Organization (IMO) from this morning. The five days of discussions will be watched closely for any sign of a consensus building to make stricter green targets for shipping,. The United ...
MOL signs up for Elon Musk's Starlink Shipping's satellite communications shake-up is now in full swing with Elon Musk disrupting the existing dominant players. Japan's largest shipowner in dwt terms, Mitsui OSK Lines (MOL) has announced it will start trial use of the Starlink service offered by Musk's SpaceX company. Musk started marketing Starlink to maritime customers this summer with cruise line ...
Container market collapse sees first ships heading for scrap The container market collapse is in full view with ships heading for scrap and other vessels taking the long way back to Asia via the Cape of Good Hope to soak up capacity. Both Clarksons and Braemar are reporting that several smaller containerships have been circulated in the recycling market this week "The trickle of ...
Car carriers smash records The car carrier sector continues to smash records. According to Clarksons Research, the one-year time charter rate for a 6,500 ceu ship now stands at $105,000 per day, double the Q2 2008 previous record, with fixtures now typically being concluded for multiple years and much of the charter fleet now fixed forwards. One of the ...
Tankers, crimes, and fortunes Andrew Craig-Bennett delves into the past as he worries about today's growing dark fleet. Balzac never wrote, "Behind every fortune there is a crime". He wrote, in Le Père Goriot, in 1834, "Le secret des grandes fortunes sans cause apparente est un crime oublié, parce qu'il a été proprement fait". It was Mario Puzo, who, ...
Vancouver port becomes testing bed for alternative fuels The Vancouver Fraser Port Authority, together with partners from across the port community, are testing various low- and zero-emission fuels and technologies at the Port of Vancouver, as part of the port authority's efforts to phase out all port-related emissions by 2050 in support of the Government of Canada's goal to achieve net-zero emissions by ...
Latest maritime cyber attack targets Voyager Worldwide Company says it has launched an investigation into the attack, and that there has been no evidence of attacker activity...
Ukraine issues list of complaints against Russia at IMO Ukraine has issued the IMO with a lengthy list of complaints against Russia and urged governments to help identify any...
Tankers transiting Bosporus complied with letter-of-guarantee request, says Türkiye's IMO representative No change in Türkiye's position, says Ozkan Serbest, counsellor at London's Turkish Embassy, who represents the country at the International...
Short-term thinking will hold back progress on decarbonisation The industry appears to be lurching from crisis to crisis without recognising the disconnect between shorter- and longer-term perspectives. Sustainable...
The week in newbuildings: Chinese shipyards pick up 67% of all orders so far in fourth quarter South Korea's share of new merchant ship orders has dropped in the fourth quarter to 27%, down from 41% for...
Perfect moment for Søren Skou to retire as Maersk transformation completed Maersk was losing shareholder value when Mr Skou took over the top job nearly seven years ago, but he has...
The week in charts: Russia sanctions boost tanker newbuilds | Collisions in Istanbul anchorage | Russia sanctions timeline More big boxship orders are in the pipeline, emerging carriers on Asia-Europe trades are under increasing pressure, and Ukraine's Danube...
TotalEnergies takes $3.7bn hit after writing down Novatek stake French energy firm TotalEnergies has confirmed its 19.4% stake in sanctioned Russian LNG producer Novatek will fall out of its...
Braemar adds financing advisory to Greece operation Sourcing capital from Asia seen among 'promising' opportunities for 2023
CDB Leasing president Peng Zhong resigns The 54-year-old had been president of the Chinese lessor since September 2017. No replacement has yet been appointed
Boxship scrapping to accelerate as Wan Hai floats 10-ship tender Evergreen is also embarking on a clear-out of older tonnage at a time when analysts predict that scrapping volume will...
Søren Skou to retire at the end of the year Søren Skou has led the transformation of Maersk from a diversified conglomerate to a global logistics giant
Daily Briefing Your tankers are being held in a queue in the Bosporus. They must be answered shortly | TradeLens is out...
US offshore wind push runs into bureaucracy, investment headwinds Ambitious plans to build offshore wind off the coast of the United States has run up against permitting bottlenecks and a lack of investment.
US IPI needs fresh approach to recovering market share: analyst A more complex - and agile - approach will be required to help inland point intermodal grab a larger share of the freight that is arriving at US ports, writes JOC analyst Larry Gross.
Decarbonization tops IMO's London MEPC79 agenda MEPC79 delegates will also be considering a basket of measures that can integrate both technical and carbon pricing elements as the maritime industry transitions to more renewable fuels.
Rough seas await as retiring Skou hands control of Maersk to Clerc There are fires that will demand the immediate attention of new Maersk CEO Vincent Clerc, including quickly finding a way to meet long-term decarbonization targets.
How Europe's Russian crude ban has shaped the oil trade Indian-managed aframax gives insight into changes brought by response to Putin's war
Ocean Rebellion protest stages oil slick and death of oceans outside IMO Demonstration on first day of Marine Environment Protection Committee aimed at pleading with the IMO to enact stronger decarbonisation measures
Hanwha ready to commit to DSME share acquisition deal Contracts could be signed this week, according to local reports
Swan Hellenic buys back newbuilding auctioned off by Helsinki Shipyard Cruise line regains control of ship that encountered problems with financing through sanctioned GTLK
Carbon-tracking scheme set for expansion in 2023 New technology is designed to prepare the ground for increasingly tough carbon regulations from 2023 to improve shipping's emissions record
Cyprus flag loses 70 vessels due to EU sanctions against Russia European Union as a whole shows limited net outflow of ships from its flag so far this year
Costco downsizes container ship chartering at huge cost US retailer taking $93m charge to reduce exposure after building up seven-vessel fleet
AI's time has come as Clarksons predicts new industrial revolution to boost shipping Analysts impressed by new ChatGPT solution that will play a part in increasing economic growth
Potentially a big week for FSRUs and FSU arrivals in Europe as cold weather hits But region faces a 30 billion cubic feet shortall in gas supplies for next winter
Latsco returns to South Korea for LPG orders worth up to $390m With coffers boosted by lucrative tanker and LPG ship sales, owner plunges into gas carrier newbuildings at KSOE
Sandbrook pumps another $250m into Havfram as first WTIV ordered in China Investment now stands at $500m in Norwegian owner making the move into wind shipping
Swedish Club opts for 10% as P&I clubs wrap up general increases On average International Group members are looking for increases of around 9%
Wan Hai Lines invites bids for scrapping of 10 feeder container ships Tender deadline set for Friday as Taiwanese carrier looks to recycle older boxships
Container ship demolition derby begins with feeder trio set to hit the recycling beaches Leading demolition broker claims that large numbers of unwanted vessels are being made available
MOL to test Elon Musk's Starlink low earth satellite system Carrier signs up to SpaceX maritime satellite communication service via hybrid deal with network provider Marlink
Gibraltar ready to give grounded bulker wreck the chop Salvage plan involves using a semi-submersible to ship the wreck away
John Fredriksen unlikely to derail merger after 'curious' Euronav share sale US investment bank Cowen believes combination commitment remains, assuming no further stake reductions this week
Navigator cutting costs with 'highly competitive' $112m refinancing LPG carrier owner taps Credit Agricole and Deutsche Bank for new facilities
How Europe's Russian crude ban has shaped the oil trade Indian-managed aframax Buena Vista provides a good view of how the Russian trade works after the European seaborne import ban
Container ship demolition derby begins with feeder trio set to hit the recyling beaches Leading demolition broker claims that large number of unwanted vessels are being made available for recycling sale
Four tankers cleared to cross Bosphorus amid P&I-induced backlog First signs emerge that a standoff over P&I requirements in the Turkish Straits is heading towards a resolution
Shipping on alert as crude tanker fired on in Gulf of Guinea Vessel increased speed to avoid attack after loading in Cameroon
Container ship demolition derby begins with feeder trio set hit the recyling beaches Leading demolition broker claims that large number of unwanted vessels are being made available for recycling sale
Wartsila moves deeper into decarbonisation as ambassador for Moller Center Engine technology group upgrades membership of the zero-carbon shipping research and development nonprofit as it seeks collaborate with wider expertise
Braemar grows Athens office with corporate finance desk London brokering giant keeps expanding footprint overseas with former DVB and YieldStreet executive Stefanos Fragos
Golar LNG buys back $140m of bonds in reverse Dutch auction LNG player had invited holders of $300m in notes to name their price for repurchase
Maersk CEO Soren Skou retiring after seven years in shipping's biggest job Danish executive to be replaced by Vincent Clerc after a 40-year career at giant shipowner
Cyprus flag loses 90 vessels due to EU sanctions against Russia European Union as a whole shows limited net outflow of ships from its flag so far this year
Bumper year for LNG sale and purchase deals with nearly 25 vessels sold More ships are expected to emerge in 2023 as emissions regulations start to bite and companies look to fleet renewal
Owner takes the helm at Metis Cyberspace after CEO steps down President Eleni Polychronopoulou fills void left by departing co-founder and chief executive Konstantinidis
Shipbuilder Meyer Werft delays Carnival Jubilee delivery date Supply chain and logistics issues cited as cause of six-week delay of new mega-sized LNG-powered cruise ship
Plunge in US imports accelerates; volumes near pre-COVID levels November saw another double-digit drop in America's containerized imports, driven by sinking volumes from Asia.
Truck driver shortage in Japan spurs new cargo airline Japan Airlines will fly freighters for Yamato Transport, which needs airlift to supplement a shrinking pool of truck drivers in Japan.
Skou stepping down as Maersk CEO at end of year Shipping giant Maersk changes leadership as it transitions from a period of massive profits to one of challenging market conditions.
Air cargo shippers seek short-term pricing amid economic uncertainty Freight management companies are not making long-term shipping commitments with airlines to avoid getting stuck with unneeded bookings.
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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