Norwegian Cruise Line Holdings joins the Methanol Institute Thus far there are no methanol-fueled cruise ships. However, that doesn't mean that there won't be and the Methanol Institute has just welcomed Norwegian Cruise Line Holdings (NYCE: NCLH) as its newest
Xeneta raises US$80 million to fuel expansion into new markets Ocean and air freight rate benchmarking and market analytics platform, Xeneta announced a US$80 million investment at a US$265 million valuation led by funds advised by Apax Digital, the growth equity arm of Apax, a global private equity advisory firm, with participation from NY-based Lugard Road Capital. With this move, Xeneta aims to accelerate investments in platform development and continue s
Box volumes boost at Omani ports in 2022 first half The Omani ports have reported growth in container volumes, as well as in general, liquid and dry bulk cargo, for the first six months of the year. In particular, the country's ports moved 2.58 million TEU in the first two quarters, which represents a 2% increase compared with the same period last year. This growth is mainly driven by the 2% increase in Salalah port's box volume. In the same perio
MSC could face default penalty in MCS' FMC complaint MSC is facing a default judgement from the US Federal Maritime Commission (FMC) in the complaint brought by US furniture maker MCS Industries, after the Swiss-Italian liner giant failed to submit documents that the FMC had ordered to be turned over as part of the proceedings. In July 2021, US furniture maker MCS filed complaints with the FMC, alleging that MSC and COSCO Shipping Lines reneged on
Felixstowe port workers announce new strike action Workers at the port of Felixstowe will go on another strike after the failure in negotiations between the British trade union Unite and CK Hutchison-owned Felixstowe Dock and Railway Company, the port owner. Unite said that last week the management at the Felixstowe Dock and Railway Company ended pay talks after refusing to improve its pay offer and instead announced that it was imposing a pay de
ZIM consolidates India network via East Africa weekly connection ZIM Integrated Shipping Services has introduced a new express string between West India and East Africa. The independently-operated service, branded as IAX (India Africa Express), has the following port rotation: Nhava Sheva (PSA Mumbai), Mundra, Dar es Salaam and Mombasa. The Israeli carrier has deployed three vessels with a capacity of around 1,500 TEU each for a weekly frequency on the route.
HHLA completes AGV charging infrastructure project at Container Terminal Altenwerder In August, the final charging station for the electrified Automatic Guided Vehicles (AGV) was approved at the world's first climate-neutral handling facility, HHLA Container Terminal Altenwerder (CTA) in Germany, and put into regular operation. Hamburger Hafen und Logistik AG (HHLA) said that 18 electric charging stations are now available for charging the automatically driven AGVs that transport
Drewry rejects 20ft containers extinction scenarios Following a contraction in output of newbuild 20ft containers in 2021, ordering has recovered strongly this year, and Drewry expects its share of the global container equipment fleet to remain above 25% for the foreseeable future. Although the standard 20ft dry freight container has seen its share of the global equipment pool decline over the past decade, the maritime research consultancy believe
CMA CGM applies new overweight surcharge from Asia to North Europe CMA CGM will implement a new overweight surcharge from North East Asia, South East Asia, China, Hong Kong & Macau SAR to North Europe, Scandinavia, Poland and Baltic. Effective from 15 September, customers of
Eagle Bulk snaps up Japanese-built ultramax for $27.5m US-based owner Eagle Bulk Shipping has expanded its fleet with the purchase of a 2015-built scrubber-fitted ultramax bulk carrier for $27.5m. The vessel, built at Imabari Shipbuilding in Japan, will be renamed Tokyo Eagle and deliver to the company during the fourth quarter of 2022. After delivery, the Nasdaq-listed company's fleet will consist of 53 ...
C-Bed secures new vessel contract in German North Sea Offshore accommodation specialist C-Bed has won a new contract for the 1999-built walk-to-work service operation vessel on the Vattenfall-operated DanTysk and Sandbank offshore wind farms in the German North Sea. The contract comes less than four months after the company announced an operations and maintenance service project at DanTysk and Sandbank for the remainder of ...
Tanjung Offshore scores new Petronas contract Malaysian offshore service provider Tanjung Offshore, part of T7 Global, has been awarded a contract by Petronas for the provision of subsea inspection services. The contract, effective until August 2024, will see the company provide platform-based inspection services utilising mini remotely operated vehicles (mini-ROV) for over 30 offshore structures such as jackets and pipelines in ...
Date set for new strike at Felixstowe UK's top container port Felixstowe is facing its second eight-day strike this year as the pay dispute with workers continues. Fresh strikes have been announced from September 27 to October 5, after 82% of surveyed members of the Unite union, which represents 1,900 blue-collar workers at the port, rejected a 7% pay offer. The union ...
Golden Energy Offshore PSV awarded more work with Repsol Norway's Golden Energy Offshore Services (GEOS) has secured a contract extension from Repsol Norge for the 2005-built platform supply vessel . The contract is in direct continuation of the current charter, which started in 2021 for a firm period of one year. The extension will see the vessel remain on charter with Repsol for an ...
Xeneta raises $80m to support growth plans Oslo-based ocean and air freight rate benchmarking and market analytics platform Xeneta has raised $80m in funding at a $265m valuation. The funding round was led by funds advised by Apax Digital, the growth equity arm of Apax, with NY-based Lugard Road Capital, an affiliate of a previous backer, Luxor, also taking part. Claimed to ...
BlackRock emerges as major shareholder in Fredriksen's Golden Ocean BlackRock, one of the largest asset managers in the world, has become a major shareholder in John Fredriksen-backed Golden Ocean Group. The Nasdaq- and Oslo-listed bulker owner revealed in a filing on Tuesday that BlackRock holds a 5.07% stake in the company. The Golden Ocean holding makes BlackRock the second-largest investor, with some 10.2m shares, ...
Berlin jittery about COSCO's planned investment in Hamburg Germany is having a national conversation about its economic ties with China, something that has come more into focus over a planned investment by state-run COSCO into one of the country's port crown jewels. The federal government continues to wrestle with the question of whether China's largest maritime conglomerate can invest in the port of ...
Tankers set to profit further from G7 and EU action against Russia Last week saw the G7 group of countries - Canada, France, Germany, Italy, Japan, the United Kingdom and the United States - announce their intention to impose a globally recognised price cap on Russian oil exports as they strive to reduce Russia's ability to finance its war in Ukraine, another measure that tanker analysts are ...
TGS lines up seismic survey off Australia Oslo-listed seismic data specialist TGS said it would conduct the Capreolus Phase 2 3D seismic survey in the Carnarvon Basin on the Australian Northwest Shelf, adjacent to the Capreolus Phase 1 survey acquired in 2015 by Polarcus and purchased by TGS in 2018. The new survey will comprise 4,500 sq km of multiclient seismic data ...
New liner entrants face pressure from high charter bills As liner fortunes turn, some carriers are left saddled with very expensive chartered in ships, which could become a drag on profits. Alphaliner data looking at the top 30 carriers shows Unifeeder and Sea Lead Shipping rely on chartered in tonnage for 100% of their needs, while Emirates Shipping Line has a fleet made up ...
Jacktel seals contract extension with TotalEnergies Jacktel, a subsidiary of Norway's Macro Offshore, has landed a contract extension with TotalEnergies for the accommodation jackup rig in Denmark. Haven has been on a contract with TotalEnergies for use on the Tyra field development offshore Denmark since last November. The new deal will keep the 2011-built rig employed until June 30, 2024, and ...
20ft containers are not nearing extinction: Drewry Following a contraction in output of newbuild 20ft shipping containers in 2021, ordering has recovered strongly this year, and contrary to popular opinion UK consultancy Drewry expects its share of the global container equipment fleet to remain above 25% for the foreseeable future. Although the standard 20ft dry freight container has seen its share of ...
Carriers brace for more official complaints from emboldened BCOs as MSC fights protracted case Shippers are likely to feel emboldened to doggedly pursue ocean carriers in the courts as the liner party fizzles out and out of pocket clients seek retribution. In a sign of this new found persistence, Pennsylvania-based home decor MCS Industries shows no sign of letting up in its battle with the world's largest containerline. Erin ...
Port Houston and Shell to jointly explore decarbonisation opportunities Port Houston has announced an agreement with Shell to work together to meet the port's strategic goals in the areas of sustainability, resilience and carbon reduction. Port Houston and Shell signed a memorandum of understanding that outlines a shared intention to explore energy, mobility and decarbonisation projects that could be implemented at the port's terminals. ...
Diana Shipping wraps up $66m leaseback sale of capesize duo Greek bulker owner Diana Shipping has raised gross proceeds of $66.4m after completing a sale and leaseback deal for two of its 2015-built capesize vessels with unaffiliated Japanese third parties. As part of the deals for New Orleans and Santa Barbara, which secured $33.2m each, the New York-listed
Energy price cap spells confusion for shipping Lack of detail and clarity on how the price cap would be applied and enforced underscored in US briefings
Cargo owners to drive pace of shipping's decarbonisation Decarbonisation is expected to shift the balance of influence from shipowners to cargo owners, who will decide which ship will...
Diana completes double capesize sale and charter-back Deals are among the first that have been transacted between Greek owners and Japanese lessors
Operation starts to change crew on Greek tanker held in Iran Iran is said to have been pushing Greece for concessions beyond the return of an Iranian oil cargo that was...
Cleaves sees upside for dry bulk stocks The Norwegian investment bank has a buy rating on the segment with top picks Genco Shipping & Trading, 2020 Bulkers...
Shipowners and oil cartel upbeat on market fundamentals Shipowners group BIMCO says changing EU trading patterns to underpin tonne-miles for tankers
Container demand growth forecast at low end of expectations Container demand slowdown will coincide with new tonnage entering the market and capacity being released back into the market as...
Dry bulk rates to improve as supply capacity lags demand BIMCO expects an uptick in rates with Europe's coal demand boosting average hauls, while minor bulks continue to lead the...
UK Club announces death of Herry Lawford 'Herry was a man of great charm and flair, always good humoured, courteous and debonair, and will be greatly missed...
Bulk carrier values continue to decline Values for 10-year-old capesize units have dropped by more than 11% in the past month, as weak freight rates dampen...
Second strike date set for Felixstowe Talks have broken down between Felixstowe's port operator and the union Unite. New industrial action will coincide with strike at...
U-Ming bulker carrying sanctioned cargo remains stuck in Latvia U-Ming said the charterers have paid freight in full, demurrage and the majority of detention which continues to accrue
LNG licence agreement seen as a breakthrough for Yangzijiang Chinese builder's prospects lifted by approval for LNG cargo containment systems and reported MSC boxship orders
Daily Briefing Sky-high boxship profits set to renew debate on tonnage tax | Tanker owners need not fear Russian oil price cap...
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
Pressure building in Washington to avert rail strike All eyes turned to Washington amid the realization that a rail strike disrupting the already fragile US supply chain six weeks before crucial midterm elections would not be helpful to the White House and Congressional Democrats.
Visibility providers aim to create air-ocean link Linking ocean and air freight visibility has been an elusive challenge for shippers and logistics providers, which has led Vizion and BlueBox to combine their respective data products in a commercial partnership.
Shanghai, Ningbo ports closed for second time this month ahead of new storm Typhoon Muifa is expected to make landfall in the Shanghai-Ningbo area Wednesday, just over a week after another storm forced the ports to close, delaying services for ocean carriers.
Uncertainty pushing trans-Pacific contract talks back to more traditional cycle Carriers and their customers say they will not rush into contract negotiations this fall as they did last year, but rather wait for the volatility in the trans-Pacific to dissipate and the direction of the US economy to become clearer.
Wage talks collapse as Felixstowe heads for new eight-day strike Runaway inflation has driven up union pay demands that employers are unwilling to meet, escalating industrial disputes in several sectors across the UK.
Australian commission calls for end to carriers' antitrust immunity An eight-month probe into Australia's maritime industry was launched after complaints by shippers into soaring freight rates and ancillary fees.
MyCarrier rides growing LTL needs to new funding round MyCarrier has created automation partnerships with 15 less-than-truckload (LTL) carriers and will handle more than $1 billion in shipper freight spend, factors that induced venture firms to invest $22 million in the company.
Chaotic ocean freight market leads to fresh equity investment in Xeneta Demand for rate benchmarking tools grew during the pandemic's wild pricing swings in ocean shipping, which has helped fuel a new $80 million investment in Oslo-based software provider Xeneta.
US manufacturers producing higher truck volumes The average manufacturing shipping volume rose 1 percent in August year over year, while other industries saw their truck shipments drop 4.6 percent, according to FourKites.
Russia faces 'major oil cut after EU import ban' India and China are predicted to take more Russian barrels after the EU ban kicks in - but few other major buyers have stepped forward
New US shipping laws could be a cash suck for non-vessel operating carriers Non-vessel operating common carriers are required to collect data on container availability, but are finding it hard to come by
Clarksons Securities expecting more out of International Seaways Analysts have their eyes on bigger dividends and share buybacks from an owner with its financial house in order
Banker jailed over brazen €100m Allseas Group fraud bid Othman Louanjli was sentenced to six years behind bars for laundering proceeds of decade-old scam
Eagle Bulk confirms buying ultramax bulker in slumping secondhand market Average market value for comparable bulker has slipped 11% since early summer, according to Clarksons Research
Kalypso moves into shipowning with first container ship purchase Container shipping newcomer adds own tonnage and strengthens management
Concordia Maritime to part ways with product tanker trio Swedish player has put its oldest vessels up for sale, and may have even divested them
U-Ming: charterer is paying in full for bulker stuck in Latvia over sanctions Taiwanese owner says it can only wait while talks continue between charterer and government
Container newbies struggling to meet charter payments as rates tumble Shipper Allseas returns vessel to SFL Corp as freight markets fall
Realism, not hit and hope greenwash, now needed on climate action As carbon emissions from shipping continue to rise, fresh action is needed to reverse the trend
Helge cargo to be lightered as damage assessment due in Denmark Two ships will help discharge damaged Erik Thun vessel after salvage operation
Container markets: Don't panic! It's a correction, not freefall TradeWinds Shipowners Forum in Germany debated the implications of the tumbling market
Trafigura fixes Tufton MR tanker duo bought from Marinakis UK owner reported to have found term employment for latest acquisitions
Three owners poised to sign eight fresh LNG orders against Qatari contracts Final tranche of arrangements at DSME expected to complete South Korean orders phase 1 of QatarEnergy's huge newbuilding programme
Carisbrooke roars back to profit as rates remain at high levels Anglo-Dutch cargo ship and MPP player enjoyed a strong 2021 - and could do even better this year
Bahri VLCC sale backs up spike in tanker prices Saudi Arabian owner linked to another disposal in hot sale and purchase markets
Turkish tension: Greece fires warning shots past ropax The Anatolian refused to stop for the coast guard
Former LNG carrier master aims to bring 'new pair of eyes' to the bridge Three-year project to make navigation safer wins backing from European Commission
Winter warmer: VLGC rates up 10% as US exports flood into Europe Transatlantic imports are filling the gap left by lower North Sea production
Norden relaunches new-look, user-friendly product tanker pool as rates look up Product tanker pool previously known as Norient has been refreshed and is out to find new members
BlackRock moves in behind John Fredriksen with $93m Golden Ocean stake Filing reveals US investment giant passed the 5% threshold in bulker company
U-Ming bulk carrier stuck in Latvia for six months over sanctioned $17m cargo Taiwanese-owned Asian Majesty has fallen foul of sanctions against Russian businessman Dmitry Mazepin
Clarksons identifies 'tiered' market as ships steam 20% slower since financial crash Analyst Sarah Holden says speeding up in market peaks has been much more limited of late
Eagle-eyed marine insurance broker Tysers turns to ornithology to assess P&I flock Broker finds similarities between avian world and the trials and tribulations of mutual marine insurers
G7 Russian oil price cap to support tanker tonne miles, says BRS Broker believes that tonne-mile demand will remain supported for as long as the Ukrainian conflict persists
G7 Russian oil price cap to support tanker ton miles, says BRS Broker believes that ton mile demand will remain supported for as long as the Ukrainian conflict persists
Singapore consumer watchdog calls for review of cruise ship over booking CASE president calls for the city state to follow policies in the US and Europe over passenger compensation
Bahri VLCC sale talk backs up spike in tanker prices Saudi Arabian owner linked to another disposal in hot sale and purchase markets
AG&P poised to fire up first Philippines FSU-based LNG import terminal The project will use an Adnoc Logistics & Services-chartered LNG carrier that has been converted into a floating storage unit
FMC seeks to limit ocean carriers' leverage on container space Federal regulators are proposing a "burden-shifting regime" aimed at helping importers and exporters secure container space on ships.
LNG shipping rates top $100,000/day, oil tanker rates still rising Tanker stocks are proving to be a shelter from the Wall Street storm as demand grows for ships that transport oil and natural gas.
Xeneta raises $80M to help shippers 'rethink' freight procurement "This new funding will help us accelerate development of our platform and add even more data sets to enrich our expert industry analyses to further...
Port of Savannah clearing record volumes despite vessel backlog The Georgia Ports Authority is on track to move a record-setting 6 million twenty-foot equivalent units this fiscal year.
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