Barbara Muckerman named Silversea Cruises next president and CEO Silversea Cruises president and CEO Roberto Martinoli is to transition to the role of senior advisor to Royal Caribbean Group (NYSE: RCL) president and CEO Jason Liberty on January 1. Barbara Muckermann,
Maersk lines up another U.S. green methanol source A.P. Moller - Maersk (Maersk) continues to secure new sources of green methanol to fuel its next generation of vessels. In its latest move on this front, it has signed a Letter
Incat Tasmania ups its electric ambitions Australian Shipbuilder Incat Tasmania Pty Ltd says it is "poised to revolutionize the world's ferry market." Chairman Robert Clifford, returning from a trip to Europe and the Americas, reports very positiv
SCH, Peel Ports cooperate for car storage and transporter park expansion at Port of Liverpool Logistics company SCH has agreed on a multi-year lease with Peel Ports Group as part of a major expansion of a car storage and transporter park at the Port of Liverpool. According to Peel Ports, the project, worth over US$1.2 billion will see the facility increase in size by more than 25%, from approximately 32,000m² to over 40,000m², to deal with growing demand for the processing of vehicles at
US FMC probing container lines' anti-retaliation compliance The United States Federal Maritime Commission (FMC) is asking the top 20 shipping lines calling the US to provide information on how they are complying with the new prohibitions on retaliation established by the Ocean Shipping Reform Act of 2022 (OSRA). The added protections against retaliation were created by Section 5 of OSRA and became effective immediately upon the law's enactment in June. Th
Maersk, SunGas Renewables enter green methanol partnership As part of its strategy to decarbonise customers' supply chains, A.P. Moller - Maersk has entered a green methanol Letter of Intent with US-based SunGas Renewables, Inc., a spin-out of GTI Energy which also provides technology and equipment systems, for large-scale production of renewable fuels. The Letter of Intent covers the production of green methanol from multiple facilities to be developed
World bunker indexes continue firm downtrend According to the weekly outlook of Marine Bunker Exchange (MABUX) for fuel prices, global bunker indices continued firm decline over Week 50 of the year. However, there are signs of slight upward correction last few days. As a result, the 380 HSFO Index fell to US$460.81/MT, the VLSFO Index decreased to US$660.12/MT and the MGO Index declined to US$988.54/MT. Global Scrubber Spread (SS) - the pri
Contecon Manzanillo's capacity to exceed 2 million TEUs in the next years Contecon Manzanillo (CMSA), International Container Terminal Services, Inc.'s (ICTSI) subsidiary in Mexico, recently commenced the third phase of its expansion project, which will increase its capacity from 1.4 million to more than 2 million TEUs within the next five years. CMSA chief executive officer, José Antonio Contreras led the project inauguration together with Colima governor Indira Vizca
San Pedro Bay ports on downward trend: Los Angeles reports lower box volumes in November The Port of Los Angeles (POLA) has seen the same year-on-year percentage drop of 21% in its November container volumes with its twin Port of Long Beach. The Californian port reported 639,344 TEUs in the last month. November 2022 loaded imports reached 307,080 TEUs, down 24% compared to the previous year, loaded exports came in at 90,116 TEUs, an increase of 9% compared to last November, while emp
ZIM upsizes four vessels in weekly service calling JAXPORT ZIM Integrated Shipping Services has upsized four container ships deployed on its weekly container service operated through the 2M Alliance, calling JAXPORT, replacing four smaller ships with two 11,700 TEU and two 11,923 TEU vessels. According to JAXPORT, the four newly-built ships are the largest vessels ever to be included in a regular port rotation at the port of Jacksonville in Florida, US.
Boxship on 2M Alliance's service faces engine issues in Shanghai Earlier in December, the 5,468 TEU container vessel Tasman, deployed on 2M Alliance's service called TP18 by Maersk and Lone Star Express by MSC, suffered major engine difficulties, while it was in Shanghai. "Maersk has informed us that the chartered vessel Tasman, deployed on our Lone Star Express service, suffered main engine issues while she was at Shanghai, China on 6 December 2022," said in
CMA CGM and Port of Shanghai proceed with decarbonisation projects The CMA CGM Group and Shanghai International Port Group (SIPG) signed a long-term strategic collaboration to develop the mass scale use of 'cold ironing' technology, the use of onshore power supply for container ships at the Port of Shanghai. In late November 2022, the CMA CGM Group and SIPG successfully completed the technical trial of the "cold ironing" facilities of Yangshan Terminal in the Ch
AD Ports Group inks agreements with Kyrgyzstan and Sudan AD Ports Group has signed two major agreements with the governments of Kyrgyzstan and the Republic of Sudan. Under the first agreement, the Ministry of Economy and Commerce of Kyrgystan has entered negotiations with AD Ports Group to secure more than 300,000 m² of land within the Khalifa Economic Zone Abu Dhabi (KEZAD) to develop and operate a logistics hub and customs area. Based within KEZAD's
Long Beach sees reduced container movement in November Trade moving through the Port of Long Beach (POLB) softened in November amid reduced orders from retailers, full warehouses, vessel transfers between the San Pedro Bay ports and goods shifted toward seaports along the East and Gulf coasts. According to the Californian port, dockworkers and terminal operators moved 588,742 TEUs last month, down 21% from November 2021. Imports slid 28.4% to 259,442
Aker Solutions in line for up to $412m offshore electrification deal Norwegian engineering firm Aker Solutions has signed a letter of intent with fellow oil and gas operator OKEA for the Draugen electrification project, offshore Norway for a potential contract worth between NOK2.5bn and NOK4bn ($257m and $411.6m). OKEA and Norwegian state-controlled energy firm Equinor, in collaboration with the license partners, plan to electrify the Draugen ...
Methylcyclohexane explored for hydrogen shipping from Scotland to Rotterdam An international consortium has launched a study on the feasibility of shipping hydrogen at scale from Scotland to the Port of Rotterdam in the form of methylcyclohexane. Methylcyclohexane (MCH) is a chemically stable liquid produced from toluene and hydrogen that can be transported under ambient temperatures and pressure in chemical carriers. Parties behind the project ...
Samudera Shipping lifts stake in NYK LNG carrier venture Indonesian owner Samudera Shipping Line is boosting its stake in the liquified natural gas shipping joint venture LNG East-West Shipping (LNG EW). The Singapore-listed company said in a filing it had struck a deal to purchase close to 8.6m ordinary shares from Japan's Nippon Yusen Kaisha (NYK) corresponding to about 25% stake in the LNG ...
Technip Energies secures FEED contract for Italian gigawatt-scale floater French-based engineering and technology company Technip Energies has been selected by Italy's Renexia part of Toto Holding to carry out the front-end engineering and design (FEED) for a gigawatt-scale floating offshore wind project in the Mediterranean Sea. The Med Wind project, located some 60 km off the west coast of Sicily is planned to have ...
HMM readies methanol-fuelled newbuilds 2022 is rapidly shaping up as the year methanol went global in the shipping industry. South Korea's flagship carrier HMM is the latest shipping line to be veering towards methanol dual fuel orders with multiple local media outlets suggesting it has invited tenders from Korean yards to build up to nine 8,000 teu dual fuel ...
Saipem lands $1.2bn worth of contracts in Guyana and Egypt Italian energy services contractor Saipem has won new contracts in Guyana and Egypt worth a total of around $1.2bn. The contract in Guyana has been secured from ExxonMobil for the Uaru oil field development project, located in the Stabroek block. The work scope includes the design, fabrication and installation of subsea structures, risers, flowlines and ...
Petronas' unit Gentari enters offshore wind sector with Northland Power deal in Taiwan Petronas' clean energy unit Gentari has marked its inaugural entry into the offshore wind segment buying into a project in Taiwan. The company struck a deal to acquire 49% of Northland Power's ownership interest in the Hai Long offshore wind project for around C$800m ($590m). The Hai Long is one of Taiwan's largest offshore wind ...
ITF calls for carbon pricing The International Transport Forum (ITF), part of Paris-based OECD, has called for the swift implementation of carbon pricing for shipping to speed up the sector's shift towards zero-emission ships. The price gap between conventional and zero-emission ship fuels hinders the adoption of known and sometimes available technological solutions, the ITF has argued in a new ...
President Marcos vows seafarer reforms Global leaders from organisations representing seafarers, shipowners and other maritime employers, met with Philippine president Ferdinand Marcos Jr, earlier this week as part of his foreign policy tour in Brussels, discussing ways to improve the reputation of one of the world's most important suppliers of crews. Top of the agenda was the immediate concern of ...
Molten salt nuclear power barge pitched to Indonesia American nuclear power technology developer ThorCon is pushing ahead with the development of a 500 MW molten salt nuclear power barge for operations in Indonesia with help from French class society Bureau Veritas. The concept developed by ThorCon is a molten salt fission reactor. Unlike current nuclear reactors, the ThorCon reactor operates at low pressure ...
Whatever happened to Chinese leasing? Dagfinn Lunde, writing in the latest issue of Maritime CEO magazine, ponders the huge hole in ship finance following a series of arrests in Beijing. Let's start this column by asking one of the biggest questions in ship finance this year - one I am not necessarily able to provide readers with an answer. What ...
Maritime CEO Issue Four 2022 After a three-year covid-induced hiatus the Maritime CEO Forums are back. In this special issue of the magazine, reporters bring the key messages from the Maritime CEO Forum, which took place at the Monaco Yacht Club with panels focusing on shipmanagement, finance, tankers and dry bulk. Normal markets coverage and top opinion writing is carried ...
Poseidon Principles signatories show they have a long way to go to meet IMO targets More than two dozen international banks have reported emissions data of their ship finance portfolios in the third Poseidon Principles Annual Disclosure Report, showing the mountain ship financiers have to climb to make progress on their green commitments. Out of the 28 financial institutions reporting their emissions data this year, just seven banks are aligned ...
Cal Maritime rocked by series of sexual misconduct cases Widespread sexual misconduct cases have been reported at California State University's Maritime Academy, the latest in a series of similar incidents at American shipping institutes. "Long-standing claims of sexual harassment and misconduct, homophobia, transphobia and racism on campus and during training cruises have roiled Cal Maritime and triggered an atmosphere of dread for many students," ...
CMA CGM and Shanghai port develop cold ironing infrastructure French liner CMA CGM and Shanghai International Port Group (SIPG) have signed today a long-term strategic collaboration to develop the mass scale use of cold ironing technology, the use of onshore power supply for containerships at the Port of Shanghai. From today all fully-fitted CMA CGM containerships calling at the port of Shanghai will systematically ...
Canada's Port of Prince Rupert activates shore power to reduce ship emissions The Port of Prince Rupert, on Canada's Pacific coast north of Vancouver, has expanded the shore power capacity at DP World Prince Rupert's Fairview Container Terminal, achieving a milestone in its path to emissions reduction. Through a partnership between the Prince Rupert Port Authority (PRPA), DP World and BC Hydro, new electrical infrastructure has been ...
The marine fuels market outlook for 2023 Jesper Lindegaard Sørensen, managing director of KPI OceanConnect Singapore, gives readers an Asian-flavoured look at where the bunker markets are headed next year. We all know that the key for shipping's decarbonisation is zero-carbon, clean fuels. However while we wait on these new sources of energy to materialise, it's important to manage shipping's green transition ...
DOF restructuring to continue as new board elected New chairman says the board will work closely with management, creditors and other stakeholders to find a solution that ensures the...
ABS grants 'world first' design approval for a compressed hydrogen carrier The approval enables shipbuilders to provide firm quotations for the construction of the hydrogen carriers. Provaris has engaged with Clarksons...
Outlook Poll: Global recession risk looms large for shipping in 2023 The annual view of market sentiment finds the shipping industry divided over decarbonisation strategy, risk and opportunities
Influential IMO members in pollution pushback on scrubbers and black carbon Arctic emissions Calls to amend regulations to make it mandatory for ships to use marine distillate fuels in Arctic waters forwarded to...
Bosporus letter of guarantee 'falls far short of Türkiye demands' 'It seems that the Turkish authorities were finally persuaded that the position of the clubs was immovable, and they have...
Euronav rebuffs Saverys call to abandon Frontline combination More than 24 hours after Alexander Saverys called on Euronav shareholders to abandon the 'unworkable', 'value-destructive madness' of a tie-up...
Decarbonisation will drive tech hiring spree in 2023 Shipping's greatest asset is its people. To meet its decarbonisation targets, the composition of the industry's workforce will be critical...
Poseidon banks reveal carbon gap but trailblaze transparency The second annual disclosure of emissions data from shipping banks highlights the challenge ahead to align an industry not yet...
Swedish Club becomes final International Group affiliate to declare renewal pricing 'It is essential for the long-term stability of the club that premiums remain in line with exposures,' says managing director...
No short-term fix for European gas shortage Next winter could be harsher as Asian buyers re-enter the market and Europe's storage levels drop significantly, says US-based broker...
Boxship charter rates still above pre-pandemic levels CMA CGM has been particularly active in the charter market and has secured several ships in relets from other carriers
Fujian Guohang Ocean Shipping raises $83m from Beijing IPO Established in 2001, the privately run company operates a fleet of 37 dry bulkers, ranging from handysize to kamsarmax
Import slump catches up with US east coast ports as volumes edge close to 2019 levels Key east and US Gulf coast ports have sustained growth, while US imports increasingly declined in the second half of...
Dry bulk: Softening of rates expected amid uncertain economic backdrop Uncertainty regarding ultimate demand will lead to volatility; however, there is consensus that a rebound in China is expected to...
CMA CGM expands onshore power use in Shanghai CMA CGM says 'an extensive retrofitting programme' is being conducted to apply technology that gives access to onshore power to...
Daily Briefing All eyes on Fredriksen as Saverys family seek control of Euronav | Bosporus letter of guarantee looks like victory for...
Global carbon pricing needed; shippers willing to pay: research reports Shipping's transition to zero-carbon energy sources will be costly, but shippers are showing a growing willingness to pay to decarbonize their ocean transport supply chains.
November air cargo slump extends peak season blues The weakness in Asia's air freight export markets continued through the traditionally strong month of November, with little prospect of an end-of-year boost in demand.
FMC checking carrier compliance with OSRA-22 anti-retaliation clause The anti-retaliation provision was included in US shipping reform because some shippers have been hesitant to lodge complaints against carriers for fear of being blacklisted.
Federal Maritime Commission peeking into container shipping companies for retaliation Commission continues to examine liner operators' behaviour in the US with latest probe
Maersk buys up SunGas' entire green methanol capacity for newbuildings Danish giant continues to hoover up global supplies of low-carbon fuel for its new ships
Would Frontline be better walking away from Euronav? Jefferies makes a case John Fredriksen-backed company has seen its shares lag other public tanker owners and deal terms no longer so favourable
Capesize bulker market reaches two-month high as iron ore activity improves, analyst says Broker says upward trend will not last as Covid-19 is 'out of control' across China
Wilhelmshaven welcomes Germany's first FSRU today as cold snap bites Hoegh LNG inks charter on vessel but two more regas unit are not far behind with ship for Brunsbuttel finally revealed
Banks press on with DOF restructuring after board ousted Creditors seem to have no appetite to revisit rescue plan as rebel shareholders try to halt debt swap
An investor's eye view of shipping from long-only veteran turned hedgie Jeremy Kramer Weekly finance newsletter explores how institutions want to hold on to shipping stocks for years 'without something bad happening'
Red tape delays Castor Maritime's tanker spin-off by a month Cypriot owner has not completed registration and approval tasks for listing of Toro Corp
Thenamaris claims delivery of first blue ammonia shipment Greek owner successfully transports innovative Saudi cargo to South Korea
Euronav sticks to its guns on Frontline tie-up after CMB blocks full merger Owner responds to appeal by Alexander Saverys to scrap plan and get back around the negotiating table
Bulker in 'precarious' condition moved to safe Taiwan anchorage Ilios Shipping panamax suffers water ingress but managers say any damage has already been rectified
Teco 2030 unveils world's first fuel cell stack for shipping Hydrogen-ready system will be tested in Austria next year
Private equity firm Beat Capital launches insurer Marcato Marine New underwriting outfit will focus on global special project cargoes and domestic shipping
Gram hits main Oslo board after $292m rise in market value Car carrier owner says step up from Euronext Growth is another milestone
Sovcomflot swaps $377m of Irish bonds but sanctions headache remains Russian owner still cannot pay coupons on remaining Eurobonds
Greek operators a 'minority' in post-cap Russian crude trades Data analyst says dozens of tankers lifting Russian oil are linked to sanctioned Iranian and Venezuelan trade
Former BP Shipping boss Guy Mason to replace Alan Marsh at IFAN The experienced executive is looking for new projects that the organisation can support
Help fund training for a female cadet through WISTA UK UK arm of the Women's International Shipping and Trading Association pushes its new appeal at its latest social event in London
MPCC takes charter 'haircut' but will come out ahead, analysts say Oslo-listed group will not take long to earn back the money it is losing from early redelivery
Wilhelmshaven set to receive Germany's first FSRU today as cold snap bites Hoegh LNG inks charter on vessel but two more regas unit are not far behind with ship for Brunsbuttel finally revealed
Kenya and Panama throw their hats into the ring to succeed IMO's Kitack Lim Candidates are starting to emerge as the race to replace Kitack Lim gets underway
'We don't have much time' to save the company, says new DOF chairman Restructuring expert Leif Salomonsen promises a neutral examination of all the options for the beleaguered shipowner
CMA CGM and Port of Shanghai team up for mass 'cold ironing' initiative CMA CGM expects up to 50 of its vessels calling at Shanghai will connect to onshore power supply by mid-2023
Samudera buys additional 25% stake in LNG carrier joint venture from NYK Share purchase lifts Indonesian owner's stake in LNG East-West shipping to 50%
Port of LA may have 'very soft' February and March after long Chinese New Year, ONE CEO says Container volumes at the port are down 21% from a year ago, according to Port of Los Angeles data
Great Mountain launches effort to unload $337m New Fortress stake Second largest shareholder selling 3.3% of its stake in LNG infrastructure and vessel owner
Only seven 'green' shipping banks hit IMO carbon cuts target in 2021 Minority of signatories to the Poseidon Principles are hitting current emissions reduction targets, but chair Michael Parker is not discouraged
Bill aims to close Jones Act 'loopholes' Foreign-flagged vessels working in the U.S. offshore energy sector would face new restrictions under a proposal before Congress.
Cathay Pacific's November cargo traffic shrinks on weak China exports Cargo traffic for Cathay Pacific fell in November, weighed down by weak demand for Chinese exports. The small bump it enjoyed in October was short lived.
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