Saab firms up Polish contract for two "spy ships" Saab has now firmed up a contract signed in November with the Polish Ministry of Defense's procurement authority Armament Agency for the design, production and support of two signals intelligence (SIGINT) ships
BV and ThorCon join forces to develop MSR nuclear power barge While molten salt reactors have been proposed as offering a future option for marine nuclear propulsion, that seems yet a while away and an earlier application of the technology could well be
Royal Caribbean commits to Finnish shipbuilding innovation and sustainability Royal Caribbean Group (NYSE: RCL) has signed a maritime declaration with the Finnish government, represented by the Ministry of Economic Affairs and Employment (MEAE) and shipbuilder Meyer Turku Oy that aims to
Ningbo Zhoushan Port announces new project launch amid container milestone The ceremony of the start of construction of Xuancheng International Land Port Project of Ningbo Zhoushan Port and the breakthrough of 10,000 boxes of sea-rail combined transportation between Xuancheng and Ningbo Zhoushan Port was held on 9 December. Kong Xiaohong, secretary of the Xuancheng City Party Committee, attended the ceremony and announced the start of the project and the departure of th
New project launches for hydrogen transportation from Scotland to Rotterdam The Net Zero Technology Centre and ERM have announced the launch of the Liquid Organic Hydrogen Carrier (LOHC) for Hydrogen Transport from Scotland (LHyTS) project, which is expected to play a key role in the export of hydrogen from Scotland to Rotterdam in the Netherlands. The LHyTS project seeks to demonstrate that LOHC, in the form of methylcyclohexane (MCH), can be successfully transported at
Marinfloc supports major methanol fuel boxship project in South Korea Marinfloc has started delivery of their combined EGR bleed-off and Bilge water separators for a major South Korean newbuilding project. To date, three of a total of twelve shipments for the 16,200 TEU methanol-powered vessels have been sent. ABS, Lloyds, DNV and MAN Energy Solutions have approved Marinfloc's innovative solution, which also complies with MEPC.107(49) and MEPC.307(73). According to
Baltic Exchange Council announces new chairman Lord Jeffrey Mountevans has been appointed chairman of the Baltic Exchange Council with effect from 1 January 2023, succeeding Denis Petropoulos, who has held the position since June 2019. A former Lord Mayor of London (2015/2016) and ex-Clarksons shipbroker, Lord Mountevans is an elected hereditary cross-bench member of the House of Lords where he plays an active role on maritime, defence and Re
Saudi Ports see higher TEU volumes in November Containerised cargo across Saudi ports has maintained its upward swing during November, growing by 8.3% to 631,165 TEUs from 582,783 TEUs in the same month last year. The results come amid active steps taken by the Saudi Ports Authority (Mawani) to develop the national maritime sector, optimise and automate its operations, streamline processes, boost value-driven partnerships with the private sec
Evergreen, Shreyas jumpstart boxship scrapping Taiwan's Evergreen Marine Corporation and Shreyas Shipping & Logistics were among the ship owners which accounted for three boxship demolition sales last week, joining what appears to be the start of a recycling trend for container vessels. Ship recycling is known to have an inverse relationship with the freight market-scrapping rises when freight demand weakens. Few boxships were scrapped when f
Container volumes fall at Georgia Ports The Georgia Ports Authority (GPA) reported 464,883 TEUs in November, which represents a decrease of 6.2% or 30,866 TEUs compared to the same month last year. "Container trade at US ports is returning to a more sustainable growth pattern, which is a positive development for the logistics industry," commented GPA executive director, Griff Lynch, who added, "Along with the addition of more than 1 mi
How to Improve Efficiency in Air Cargo Logistics The air cargo sector is constantly faced with new challenges. The growth of e-commerce, global trade decline, technological changes, rapid industry growth, insufficient airports to handle increasing demand, price wars, fuel consumption, and emissions are some of the industry's pressing difficulties, causing air freight hikes . Others may include package delivery growth, poor infrastructure, stric
State of Louisiana, Port NOLA, TiL and Ports America enter mega partnership for new box terminal The state of Louisiana, the Port of New Orleans (Port NOLA), North American terminal operator Ports America and MSC's terminal arm Terminal Investment Limited (TiL) have formed a strong partnership to build a US$1.8 billion container facility on the Lower Mississippi River. The new Louisiana International Terminal (LIT) in St. Bernard Parish will be able to serve vessels of all sizes, increasing
Maersk supports flood relief efforts in Pakistan The unprecedented floods that hit Pakistan during this year's monsoon left devastation and victims in desperate need of immediate aid relief. Danish shipping company Maersk supported various important relief projects across the country in collaboration with NGOs and Danish government entities. "Living our purpose of improving life for all by integrating the world, our relentless commitment to our
Noble scores $50m North Sea jackup deal with BP Noble has sealed a deal with BP to provide the ultra-harsh environment jackup rig for drilling and plugging and abandonment services in the UK sector of the North Sea. The contract for the 2003-built rig formerly known as Maersk Innovator is expected to start in May 2023, with a firm duration of one year. The ...
DOF loses all board seats to rebel shareholders Rebel shareholders have dealt another major blow to Norwegian offshore vessel owner DOF by replacing its entire board of directors. A large group of minority investors who revolted against the Oslo-listed company's restructuring plan voted out DOF's four directors, Hans Olav Lindal, Marianne Møgster, Kathryn M. Baker and Harald Thorstein, and installed five of their ...
Lord Jeffrey Mountevans named new chairman of the Baltic Exchange Council Lord Jeffrey Mountevans has been appointed chairman of the Baltic Exchange Council, the organisation's governing body. Effective January 1, 2023, former Lord Mayor of London and Clarksons shipbroker will take over from Denis Petropoulos, who has held the position since June 2019. The cross-bench member of the House of Lords was Lord Mayor of London ...
Scorpio Tankers takes back another six ships Monaco-headquartered Scorpio Tankers has exercised options to buy back six MR product tankers from China's CMB Financial Leasing. The 2014-built STI Battery, STI Milwaukee and the 2015-built STI Tribeca, STI Bronx, STI Manhattan and STI Seneca were part of a sale and leaseback deal the New York-listed company agreed in 2018. Scorpio Tankers had an ...
Conoship "future-proof" vessel design pushes ahead Construction of the first of a series of "future-proof," environmentally friendly general cargo vessels developed by Dutch design and engineering company Conoship International Projects (CIP) started at Gelibolu Shipyard in Turkey. The diesel-electric, future fuels-ready 3,600 dwt vessel is suited for sea-river operations and set for wind-assisted propulsion by two Econowind VentiFoils, which cou
Volstad Maritime signs up for more OCV battery retrofits Norwegian vessel owner and operator Volstad Maritime is retrofitting more of its offshore construction vessels to battery hybrids. The Aalesund-headquartered company has contracted HAV Group's subsidiary Norwegian Electric Systems (NES) to deliver the battery pack and associated control system for the 2015-built OCV Grand Canyon II one month after it earmarked the sister vessel Grand ...
Penta-Ocean firms up Japanese wind farm deal Japanese marine contractor Penta-Ocean Construction has secured a contract for the construction of turbine foundations and marine civil engineering works for the country's 220 MW offshore wind farm project. The Kitakyushu Hibikinada offshore wind project, being developed by Hibiki Wind Energy, will feature 25 9.6MW turbines. The project within the port area of the Hibikinada ...
'Massive wave' of containership scrapping forecast With the first significant amount of boxships being put up for recycling as the container market sinks to pre-covid levels, analysts are anticipating a significant swathe of vintage tonnage to be torched in the coming weeks and months. Wan Hai Lines of Taiwan has put 10 small boxships up for recycling and there are reports ...
CII's shortfalls laid bare The shortfalls of the incoming Carbon Intensity Indicator (CII) as seen through the lens of dry bulk, tanker and containership operators forms the lead in the December issue of Splash Extra. There's just 18 days to go until the phase-in of the IMO's most controversial legislation since the global sulphur cap, and the volume of ...
Scotland's INTOG offshore wind leasing round attracts 19 bids Crown Estate Scotland has received a total of 19 applications for its flagship offshore wind leasing process intended to reduce UK North Sea emissions and boost innovation. Under the Innovation and Targeted Oil and Gas (INTOG) leasing, which is separate from the ScotWind leasing round for commercial-scale wind projects in Scottish waters, developers applied for ...
IMO seeks successor to Kitack Lim The International Maritime Organization (IMO) has set in motion the process to elect a successor to Kitack Lim as secretary-general. Under recently published guidelines applications for candidates for the top posting at the United Nations body must be submitted by the end of March next year, with the election then taking place in July with ...
Turkey fixes tanker insurance standoff Turkey claims to have resolved its tanker insurance impasse, which had seen a slew of ships tied up in its waters at the start of the month. From December 1, Turkey had demanded ships transiting its waters carry an insurance letter, something the International Group of P&I Clubs baulked at over fears they might be ...
Saverys calls on Euronav board to terminate combination agreement with Frontline The Saverys family have come out arguing today that a proposed combination between tanker giants Frontline and Euronav would be "unworkable and value-destructive". Having now built up a 25% stake in Euronav - enough to block a full-on merger with John Fredriksen's Frontline - Alexander Saverys, the CEO of Compangie Maritime Belge (CMB), has now ...
Bahri forms JV with local clothes producer Saudi clothes giant Ajlan & Bros Holding has entered the shipowning business in a joint venture tie-up with the nation's top shipping line, Bahri. The memorandum of understanding signed paves the way for the formation of a new joint venture company which will specialise in owning, operating, and managing various models of vessels, Bahri stated ...
AD Ports to develop giant $6bn port in Sudan Sudan signed on Tuesday an initial $6bn deal led by United Arab Emirates' AD Ports Group and Invictus Investment to build a huge new Red Sea port and economic zone. The Abu Amama port will be built north of the existing key hub of Port Sudan. Under a new heads of terms agreement with the ...
Fredriksen's Northern Ocean raises $45m to reactivate drilling rig for new contract with TotalEnergies John Fredriksen-controlled Northern Ocean, a semisub rig spin-off of Northern Drilling, has raised $45m via a private placement to fund the reactivation costs of the 2018-built for a new multi-country drilling contract with TotalEnergies. The rig has been booked for work outside of the Norwegian Continental Shelf on a drilling programme initially commencing in Namibia. ...
Saudi fund picks up stake in GIP's offshore wind developer Skyborn Saudi Arabia's Public Investment Fund (PIF) has snapped up a slice of Global Infrastructure Partners' (GIP) offshore wind developer Skyborn Renewables, setting its sights on more clean energy developments. Skyborn has an offshore wind portfolio with a capacity of more than 7 GW with five operating and under-construction projects in Germany, France and Taiwan as ...
CII criticism mounts across all shipping sectors With 18 days to go until the the phase-in of the International Maritime Organization's Carbon Intensity Indicator (CII) regulation, the stinging criticism it is attracting from across the shipping sector has strong echoes of the weeks running up to IMO2020, the global sulphur cap. The CII, along with the Energy Efficiency Existing Ship Index (EEXI), ...
My new year's resolutions for shipping It's that time of the year where we mull new year's resolutions. If I were to be so bold to make a couple for the shipping industry as a whole, I'd start and finish with the environment. Forget the International Maritime Organization (IMO), shipping players in 2023 should get on with their own decarbonisation plans ...
December 2022 Review Three new rules came into effect this month designed to put pressure on Russian oil exports - the main upshot to date has been to create a tanker logjam around the Bosporus and the Dardanelles. The $60 Russian oil price cap and the European ban on Russian seaborne crude kicked in on December 5, but ...
2022 Annual Review The world energy seaborne map changed dramatically following Russia's decision to invade Ukraine on February 24. Rates for tankers and LNG carriers soared as the West sought alternate supplies and Russia ramped commodity sales to more distant clients in Asia. Grain shipments out of the Black Sea also became a top political issue. European Union ...
A very merry Christmas for product tanker owners Oil prices continue to trend downwards. Brent ended November at $86.97 and then lost ten bucks in a week, before recovering 67 cents to land at $76.82 on December 9. WTI ended November at $80.55, rose to $81.22 on December 1 but then slid without stopping to $71.58 on December 9. This was the biggest ...
The link between the strength of the US dollar and the Baltic Dry Index At the end of November, we suggested that only a strong December can prevent a rotten year for the Baltic Dry Index. The freight market gods must have listened, as the BDI has put on a few points in December to date, rising from an average of 1,299 for November to 1,353 for the first ...
The container nightmare before Christmas When the liner companies warned last month about weaker demand, they weren't kidding. Liner company data aggregator, Container Trade Statistics, reported in early December data for October which showed a 3% monthly increase in container lifts to 13.96m teu but an 8% annual fall, following year-on-year falls of 7% for September and 5% for August. ...
Trading house files complaint with US FMC against MSC CCMA, LLC, an independent, New York-based trading house focused on metals, alloys and other raw materials, has filed a complaint with the US Federal Maritime Commission (FMC) against Mediterranean Shipping Company S.A. and Mediterranean Shipping Company (USA) Inc. CCMA's complaint resulted from MSC's transportation of ten 20-foot containers loaded with high-carbon ferrochrome in October 2021 ...
BOEM issues environmental impact statements for two proposed wind projects off Atlantic coast The US Bureau of Ocean Energy Management (BOEM) this week published two draft environmental impact statements (EISs) for offshore wind projects: the Coastal Virginia Wind (CVOW) project and the Sunrise Wind project. BOEM is seeking public input on the statements. The notice of availability for the draft EISs will be published in the Federal Register ...
No support at IMO for ending Arctic heavy fuel oil ban exemptions Nearly three quarters of the HFO-fuelled fleet in 2019 would be able to continue to use HFO until July 2029...
Scorpio sees rates reaching 'extraordinary, outstanding' levels Rates have beaten expectations as cold weather arrives and seaborne exports of refined products reach record levels. More increases in...
Panama and Kenya enter race for top job at IMO Panama's Arsenio Dominguez and Nancy Karigithu, from Kenya, announce candidacy for IMO secretary general
Russia prepares shift to long-haul product trades as oil demand remains resilient Almost half of Russian oil exports were destined for Europe in the first two months of the year. This figure...
ITF calls for global carbon pricing for shipping Advocates for carbon pricing argue it could make shipping more efficient, spur a transition to zero-carbon fuels and potentially reduce demand...
Baltic Exchange names Lord Mountevans as chairman Lord Mountevans takes the helm at the Baltic's governing council with a pledge to help steer the exchange through a...
Containers: Life after the goldrush As congestion eases, container carriers will need to address how to manage the vast amounts of tonnage ordered during the...
Boxships on Europe-Asia trade rerouted to avoid Suez Canal fees Diversion around southern Africa adds between nine and 14 days to transit times, but this saves carriers big money in...
Bosporus letter of guarantee looks like victory for International Group Text resolves dispute that at one stage saw two dozen tankers in tailback
Repair yards expected to embrace a busier and greener 2023 Uptake of cleaner technologies is picking up. But there are concerns about whether there can be a level playing field...
All eyes on Fredriksen as Saverys family seek control of Euronav Alexander Saverys has urged Euronav shareholders to avoid 'total mayhem' by ripping up the proposed combination of Euronav and Frontline...
Marfin set to relinquish control of Attica in bond payback move Marfin Investment Group has accepted an approach from bondholder Strix Holdings to take over its 79.4% interest in Attica Group
MSC and Ports America join New Orleans terminal project MSC's Terminal Investment Ltd and Ports America are set to invest $800m in the project. They will operate the terminal after...
UN says trade slowdown expected to worsen in 2023 Potential upsides include improvements in the logistics of global trade. Ports and shipping companies should be well-adjusted to any challenges...
Bunker sales in Singapore hit 22-month high Singapore's bunker prices in November were relatively cheaper when compared with Zhoushan
Daily Briefing IMO again fails to make progress on tougher emissions targets | P&I clubs make concessions to settle Bosporus standoff |...
Wilmington looks to showcase potential for East Coast container trade North Carolina is looking to increase cargo flow at the Port of Wilmington, and recent announcements touting new distribution centers suggest others agree that the potential for growth exists.
Pilot project shows interoperability of eBL products The test was meant to demonstrate that different electronic bills of lading products can be used by various parties involved in the movement of a container, alleviating a nagging concern in the nascent evolution of eBLs.
Coming capacity injection clouds trans-Atlantic rate picture The trans-Atlantic is the "last trade standing" with rate levels still elevated, but that may soon change as carriers move ships from the rapidly weakening trades out of Asia to Europe-US routes.
Industry urges FMC to streamline free-time billing in OSRA-linked rulemaking The US Federal Maritime Commission is poring over feedback about detention and demurrage billing practices from more than 100 industry stakeholders as the agency seeks to implement a key provision of OSRA-22.
'Bugbee Claus' checks his list of naughty and nice as analysts unwrap new price targets Scorpio Tankers is on a roll with latest fixtures topping $100,000 per day and stock up 330% on the year
Can Europe secure enough LNG to feed its new FSRUs? Poten asks Region is set to remain tight on gas supply for next few years, consultant says
Bureau Veritas to work with ThorCon on molten salt nuclear power barge Class society teams up with reactor developer on 500-MW floating power plant for Indonesia
Green Seas: Scrubbers face questions as sulphur cap approaches three-year mark Dutch delegation to IMO raises concerns over crew familiarity, while environmental groups seek total ban
Scorpio buying more leased MR tankers as rates soar past estimates Owner also reveals new charter and refinancing in latest update
Lord Mountevans to be next chair of Baltic Exchange Former Clarksons broker and Lord Mayor of London pledges to ensure members' needs are met as exchange grapples with change
Greece's Westport Tankers pulls off impressive older vessel asset play Barely two years after its establishment, a Greek tanker company earns big in the S&P market
All bets off for DOF as rebel shareholders move in after second shock vote Investor group puts new board in place, calling into question $2.25bn court-led reconstruction process
Alexander Saverys: 'Let's abandon this madness and sit around the table' CMB boss says everyone knows Euronav-Frontline combination plan is 'a mess', with compromise the only way forward
US claims Russian oil price cap 'working as planned' Analysts say there has been no major disruption to Russian crude exports since the start of scheme and the European import ban on 5 December
DNV maritime head puts faith in learning from CII and green corridors Class society's shipping chief Knut Orbeck-Nilssen believes Carbon Intensity Indicator regulations are a start at making operational cuts to emissions
South Korea urged to be more proactive on decarbonisation Joint public and private investment in zero-carbon fuels and green corridors are required, says report
Freight derivatives: Norden puts faith in algorithms to 'make money in any kind of market' Owner-operator expects derivatives trading to be a 'substantial' stream of revenue in the future
D-Day for DOF as rebel shareholders try to oust board in high-stakes vote Bjarte Bronmo wants to install new directors to avoid investor wipe-out in restructuring
'Scrapped' bulkers resurrected for Russian coal trades, Wobensmith says Genco boss claims older vessels are moving cargoes into China and India
Seaspan returns to bondholders with 'best and final' amendment offer World's biggest tonnage provider trying to avoid having to buy back $300m series due in 2026
CMB's Alexander Saverys urges Euronav to terminate 'unworkable and destructive' Frontline tie-up CMB boss takes Hugo De Stoop to task for calling Euronav shareholding 'a gilded prison'
'Is CII perfect? No, but let's give it a go,' Bo Cerup-Simonsen says Zero Carbon Centre boss believes much-maligned measure could become very powerful
Bondholder proposes $472m takeover of Greek ferry giant Attica Holdings Strix Holdings offers debt for equity swap deal for Marfin's 79% stake in Greece's largest ferry company
Dan-Bunkering seizes Chinese-owned livestock carrier in Australia Yangtze Fortune becomes second Accord-managed livestock carrier in the custody of an admiralty sheriff
Bondholder proposes $472m take over of Greek ferry giant Attica Holdings Strix Holdings offers debt for equity swap deal for Marfin's 79% stake in Greece's largest ferry company
Dubai newcomer Teodor Shipping linked to move into VLCC shipping Middle East company only became a shipowner in October, databases suggest
China United Lines digs deep to terminate expensive container ship charters
Container line will pay $67m for early end to agreement with compatriot Antong.
LA/LB imports drop double digits; slump predicted through spring Containerized imports to the ports of Los Angeles and Long Beach have now fallen well below pre-COVID levels.
Louisiana International Terminal project receives $800M investment The Port of New Orleans has received $800 million from two major trade operators toward a planned $1.8 billion container facility.
Geodis launches air zone skipping for US firms shipping to Canada Geodis is now offering U.S.-based e-commerce companies air zone skipping service to Canada.
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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