CBO: Navy shipbuilding plan has a hefty price tag Expect naval shipbuilding analysts to have a busy weekend poring over a just-released report from the nonpartisan Congressional Budget Office (CBO). Among its findings are that even if the Navy received the
DNV updates WAPS technical standard Classification society DNV sees what most of us would call sails - it terms them Wind Assisted Propulsion Systems (WAPS) - as one of the most promising measures to assist the decarbonization
Bankruptcy ahead for major Norwegian offshore player? Norway's DOF Group, which has a fleet of more than 60 offshore service vessels, now faces either a forced restructuring under the Norwegian Reconstruction Act, or bankruptcy. At an extraordinary general meeting
NTSB reports on $1 million LPG tanker strike on tugs and loading dock The National Transportation Safety Board has released its report on a November 25, 2021 incident involving a 754-foot-long, 106-foot-wide LPG carrier, the Gas Ares, that led to more than $1 million in
Ashdod Port invests over US$1.3 million in four tech startups The board of directors of the Ashdod Port has announced an investment of approximately US$1.32 million in four startups operating within the technology incubator established by the port, through the purchase of technologies and the signing of a royalty agreement. Roee Avrahami, the director of the Innovation Domain at the Israeli port, points out that the four startups were carefully selected upo
Sea-Intelligence reports rapid ramp-up in Transpacific blank sailings Sea Intelligence, with the help of the Blank Sailings Tracker, looked at how carriers are reacting to the collapse of demand, particularly for imports to North America and Europe, in terms of blanking sailings. The following figure shows a snapshot of the additional blank sailings that were announced (or unannounced ones that were captured by Sea-Intelligence) for the week 42-52 period. Source: S
GCT Canada enhances operational capabilities with new Konecranes RTGs GCT Canada has ordered 10 Konecranes rubber tyred gantry cranes (RTGs) for its GCT Deltaport container terminal in Vancouver, British Columbia. The terminal currently operates a fleet of 12 Konecranes RTGs. The new machines are CSA-approved and equipped with Tier 4f diesel engines and Konecranes' Diesel Fuel Saver technology. They are also equipped with Konecranes' Active Load Control (ALC) syste
Wan Hai Lines names new container vessels Wan Hai Lines Ltd. held ship naming ceremonies for Wan Hai 355, Wan Hai 357 and Wan Hai 360, accompanied by a charity donation at Japan Marine United Corporation Kure Shipyard, on 7 November. The three container vessels are part of the series of 3,013 TEU ships built by Japan Marine United Corporation Kure Shipyard. The design of the 3,013 TEU series takes energy efficiency and environmentally-fr
India extends export incentives for rupee-denominated trade transactions Indian policymakers have reworked foreign trade policy guidelines and related banking regulations to allow export incentives for international shipments settled in rupees, instead of traditional US dollar payments. The move builds on a notification issued by the country's banking regulator Reserve Bank of India in July this year. "The government of India has made suitable amendments in the foreig
Port of Long Beach sees container drop in October Reduced consumer demand and a shift of imported goods to the Gulf and East Coast of the United States have led to a decline in container volumes of the Port of Long Beach (POLB). The major box port in California handled 658,428 TEUs in October, translating to a 16.6% decrease from the same month in 2021. Imports were down 23.7% to 293,924 TEUs and exports decreased 2% to 119,763 TEUs. At the same
UN launches satellite system to track methane emissions Shipowners with LNG-powered tonnage will face greater scrutiny from out in space, it was revealed today at COP27, the international climate conference taking place in Egypt. The United Nations has announced a new satellite-based system to detect emissions of methane and allow governments and businesses to respond. Methane emissions do come from LNG-powered tonnage, and ...
Asset plays to fade with alternate fuels: Danish Ship Finance Danish Ship Finance has published its latest keenly awaited biannual shipping markets report, the reading of which may prove uncomfortable for smaller, traditional owners. As shipping moves down its decarbonisation path, far more ships will be tied up in longer-term contracts to pay for all the new, more expensive green fuels with larger owners better ...
Gram Car Carriers fixes another panamax for five years in $118m deal Oslo-listed Gram Car Carriers (GCC) has sealed another lucrative deal for one of its ships. A five-year timecharter has been agreed with an undisclosed European operator for the 6,700 ceu panamax vessel . The 2015-built vessel is the third out of GCC's four panamaxes now fixed on long-term charters. The charter at an average dayrate ...
RWE wins Dutch subsidy-free offshore wind tender German utility RWE has secured the rights to build a 700 MW offshore wind farm in the Dutch part of the North Sea. The Hollandse Kust West VII offshore wind site is located about 53 km off the Dutch coast. The zero-subsidy project will include electrolyser capacity for green hydrogen production as well as electricity for ...
Samsung and KSS Line to develop hydrogen and ammonia seaborne trades together Samsung C&T Corp, the construction and trading arm of South Korea's Samsung Group, is teaming with compatriot shipping firm KSS Line is develop a fleet of hydrogen and ammonia carriers. KSS Line is the country's only owner with current experience of shipping ammonia. The two parties will work to source hydrogen and ammonia overseas and ...
Keppel charters out more jackup rigs to ADES Singapore's Keppel Offshore & Marine has inked new deals with offshore rig operator ADES for the utilisation of two more jackups to be deployed in Saudi Arabia. Five-year bareboat contracts, which bring the total number of rigs Keppel O&M has on charter with ADES to four, should commence in the first half of 2023. Keppel ...
Hong Kong Market Report 2022 Hong Kong maritime faces its greatest challenge to remain relevant and in the mix among top shipping hubs. Covid and a national security law have dimmed the city's perceived strengths as an open, lively economy in which to forge shipping fortunes. Splash assesses how the Special Administrative Region can fight back in a 56-page magazine ...
Avangrid granted extension to prepare response to order regarding Commonwealth Wind The Massachusetts Department of Public Utilities (DPU) this week denied a motion filed in October by Avangrid Renewables, developer of the Commonwealth Wind project planned for development south of Martha's Vineyard. Avangrid had sought a one-month suspension in the department's review of power purchase agreements (PPAs) for the project. The company had hoped for more time to ...
Canada invests funds to support offshore wind development in Nova Scotia Natural Resources Canada is investing almost C$1.8m ($1.35m) in Net Zero Atlantic - an energy research organisation working to advance Canada's transition to a carbon-neutral society - to lay the foundations for new offshore wind projects in Nova Scotia. Net Zero Atlantic and the Confederacy of Mainland Mi'kmaq are also contributing to the project, bringing ...
The Lloyd's List Podcast: Good COP, bad COP Promises are not progress, but there is at least a wider conversation happening about shipping at this year's COP27 climate...
Large fleets do not enjoy reduced operating expenses, finds Moore Data also suggests Japan-built bulkers and South Korea-built tankers have lowest daily costs
Liverpool workers accept pay deal to end labour dispute End of industrial action will see normal services resume at Liverpool. ACL chief Andy Abbott says resolution means there should...
All countries must back efforts to free Heroic Idun and its crew Keeping an innocent crew prisoner is just as much piracy when perpetrated by states instead of pirate gangs, and therefore...
Shippers seek revenge as rates plummet Spot freight rates are continuing to slide as demand falls back. Shippers are using excess capacity as a means of...
Djibouti deflags US-sanctioned VLCC Young Yong Djibouti has deflagged US-sanctioned VLCC Young Yong which ran aground Indonesia on October 26. Once official letters are received from...
Gram Car Carriers secures $64,900 per day for five-year forward charter Vehicle carrier capacity shortage has yet to peak, which means that charter and freight rates are likely to climb further ...
Shipping leaders 'must act and not just talk' in tackling climate challenge, says MISC chief Achieving the IMO's 2030 and 2050 goals will require 'collaborative leadership... to drive collective action across the maritime ecosystem', according...
Performance clinches new Greek bank tanker loan Latest Piraeus Bank loan facility will also help refinance some of the debt on another tanker in the fleet
Bulker leaves separatist-controlled Mariupol after nine months Bulk carrier offloaded its steel cargo before departing Mariupol. It is heading to Bulgaria for repairs
Indonesia urged to use G20 host role to push maritime decarbonisation agenda Assuming that 5% of the global fleet transitions to scalable zero-emission fuels by 2030, the green energy demanded from visiting...
Keppel O&M seals two more jack-up charters from ADES Saudi All Keppel O&M's KFELS B Class jack-up rigs have now secured bareboat charters or are on contract, as the company...
Rates for shipping US crude reach 30-month high Freight costs for shipping US crude peak, as resilient Chinese imports and Russia's invasion of Ukraine stretch the tanker fleet...
Rongsheng's shipbuilding resurrection flatters to deceive Bankrupted Chinese building giant is seeking a comeback, but the failure to secure a refund guarantee, the lack of a...
Daily Briefing Russia steps up suspected arms trade with Iran | From Champagne to beer: downsized freight futures examines emissions challenges |...
Lithium batteries in US postal system raising red flags Soaring online orders for electronics and mobility devices are flooding the US postal services with undeclared lithium-ion batteries, posing a growing threat to the transport supply chain.
Lack of infrastructure could stymie global, US wind energy targets Bottlenecks and a lack of needed infrastructure may put the "aspirational" global offshore wind installation schedule out of reach, an analyst says.
Freight payment providers evolving from auditing to analytics Audit and payment vendors are moving beyond their traditional core business of ensuring accurate freight invoices and into business analytics and consultative services as shippers seek to turn invoice data into strategic supply chain intelligence.
Cargo gains linked to cabotage waiver accelerate at Indian ports: carriers Under the modified cabotage mechanism, foreign-flag carriers working the India trade face minimal regulations over the movement of export and import containers meant for transshipment.
The worst is over: Gibson predicts VLCCs to stay above 2022's abysmal levels Rates may ease, the broker says, but there are reasons owners should be confident heading into the new year
Heroic Idun crew move tanker to Nigeria under 'extreme duress' Lawyers for Ray Car Carriers-owned VLCC say the Nigerian authorities are acting unlawfully in 'illegal' oil loading probe
Scorpio Tankers forces conversion of $205m in convertible bonds Noteholders to receive shares as product tanker giant is able to wipe huge chunk of debt off its balance shet
Editor's selection: End of the boxship bull run, dry bulk prices slide, and are ships in climate crosshairs? The stories that made headlines this week
International Group of P&I Clubs mull signing up for Poseidon Principles P&I clubs are debating signing onto the Poseidon Principles and finding themselves torn between their members and reinsurers
DOF stares into the abyss as shareholders reject $2bn debt restructuring Norwegian owner now falling back to plans B and C which could mean bankruptcy
Japan's Doun Kisen and China's AMP look to forge closer ties as leaseback deal inked Asia Maritime Pacific has closed a five-ship sale and charterback with Doun Kisen and is looking to expand the coooperation
Spain's Scale Gas nets cash for Canary Islands LNG bunker vessel Incoming newbuilding for Enagas subsidiary will also supply bio-LNG and can be adapted for ammonia
BNP Paribas forms alliance to market Japanese leasing deals French ship finance giant has tied up with specialist company SBI Leasing Services
Just how big is the market for microbubble technology? Silverstream Technologies has grabbed half of estimated market for air lubrication, but sees thousands of newbuilding and retrofit candidates
Cruise giant Carnival embraces microbubbles to counter 'perverse incentives' of IMO carbon rules Ships with air lubrication can be deployed to itineraries that are challenging under upcoming carbon intensity ratings
Green transition: Molslinjen buys Danish eco ferry operator ForSea EQT-backed owner gets its hands on five-ship fleet that is converting to electric power
Just how big is the market for micro-bubble technology? Silverstream Technologies has grabbed half of estimated market for air lubrication, but sees thousands of newbuilding and retrofit candidates
Cruise giant Carnival embraces micro-bubbles to counter 'perverse incentives' of IMO carbon rules Ships with air lubrication can be deployed to itineraries that are challenging under upcoming carbon intensity ratings
Turning the hesitant into second movers in shipping's green transition Data on fuel saving devices show the vast untapped potential cut carbon in today's shipping fleet
Okeanis' Aristidis Alafouzos sees no 'meaningful' tanker deliveries before 2026 Okeanis executive believes yards cannot now line up any big series of newbuildings
Crackdown on sanctioned tankers will lift rates, say analysts The United States lists more than 500 vessels across its global sanctions programmes
Navig8 completes clean sweep of Latsco eco MR tankers Bermuda pools group welcomes ninth modern product vessel from Greek group
CMA CGM in deal with French football giants Olympique de Marseille Partnership symbolises "passion and pride in Marseille"
Pittas-led EuroDry aims for fleet expansion with ship-sale cash Nasdaq-listed owner optimistic about dry bulk market prospects
Gram seals lucrative five-year charter that could bring in $100m-plus profit Norwegian owner almost matches record rate for panamax car carrier with new European deal
Concordia 'sad' that Stena rescue deal is limiting profit in booming markets Swedish owner says $15,500 base rate charter is holding it back
Chemical tanker owners make hay but storm clouds gather Operators have benefited from changes to trading patterns but the combination of extreme market drivers create a tight supply-demand balance
John Fredriksen's Avance Gas grows cash pile as it sells third VLGC this year Owner agrees on new charter in India to cover the gap left by the Promise
Big price jump: Okeanis hears rumours of modern VLCC sold for $112.5m Greek owner believes asset values have the potential for even further rises
International Group P&I clubs mull signing up for Poseidon Principles P&I clubs are debating signing onto the Poseidon Principles and finding themselves torn between their members and reinsurers
Newcomer Huaxia Financial Leasing emerges as buyer of GasLog LNG carrier Chinese leasing firm has acquired Samsung Heavy Industries-built steam-turbine LNG carrier from GasLog Partners
Norvic Shipping brings out the stars as it woos Singapore Dry bulk operator holds party at Asian shipping hub's Fullerton Bay Hotel
Marubeni to test 'suction sails' on panamax bulker After installation, the vessel will enter the MaruKlav Management panamax bulker pool
Indonesia nabs Singapore Strait robbers after intelligence tip-off Prompt sharing of actionable information led to arrests, says Singapore's Information Fusion Centre
Silk Way West, Alaska Airlines sign Boeing freighter deals Silk Way West Airlines, a growing cargo operator based in Azerbaijan, and Alaska Airlines on Thursday signed contracts with Boeing for two freighters apiece - but that is where the similarities ended. Silk Way West said it will take two 777-8s, the largest plane available from Boeing (NYSE: BA) and one so modern it isn't [...]
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