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NOVEMBER 17, 2022
JNPA launches 'fuel on wheels' at CPP CONCOR offers additional discount on rail freight of empty container repositioning based on incremental imports Ennarasu Karunesan recognised as 'Tamil Helmsman' A.P. Moller-Maersk to launch 'Shaheen Express' connecting India-UAE-Saudi Arabia corridor YOU ASK.. WE ANSWER... Bulk vessels transfer from Mina Zayed to Khalifa Port CMA CGM Hazardous Surcharge from Asia to North Europe Russia now 5th biggest exporter to India Govt probing under-invoicing of Chinese imports

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NOVEMBER 17, 2022
More connections for the Middle corridor New locomotive for mineral oil transports Alternative Parcels hit in FY 2021/2022 Shift to electric city logistics continues CPSL enhances pharma handling capacities ZIM prepares for landing Aapa elects new board chairman Now it's Bomi Group, a UPS company Ninth STC approval for AEI's B737-800 freighter Railways demand fair sharing of costs A tough quarter for Hamburg Ray Provencio now CBP director for El Paso Port On a direct link to Port Sudan "Curiosity of the Day" TXL to boost intermodal services in Turkey A larger footprint in Southern Germany YEG completes cargo and apron expansion Fleetenergies picks Robin Quittard

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NOVEMBER 16, 2022
Low ocean shipping rates here to stay as overcapacity looms Shippers face a 'stick or twist' contract choice as economies flounder Star Walmart shifts gear, exploits 'changing business model' As Flexport restructures, how Amazon executives are bringing change Europe's feeder operators feel the pressure as volumes from Asia decline E-commerce customers now prefer guaranteed delivery dates to speed Some relief for loss-making SpiceJet as air cargo enjoys 'its best times in India' 'Healthy' Home Depot - from grills to lumber, 'the proof is in the pudding'

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NOVEMBER 16, 2022
White House: Iran implicated in drone attack on Eastern Pacific tanker Both the White House and U.S, Central Command today released statements implicating Iran in what it now seems was a drone attack on a products tanker managed by Idan Ofer's Eastern Pacific U.K. MoD selects preferred bidder for 3 fleet support ships The U.K. Ministry of Defence (MoD) has selected British-led Team Resolute, comprising BMT, Harland & Wolff and Navantia U.K., as the preferred bidder to deliver three Fleet Solid Support (FSS) support ships

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NOVEMBER 16, 2022
Port of Los Angeles and Japan External Trade Organization Los Angeles Office sign cooperative deal Officials from the Port of Los Angeles and Japan External Trade Organization Los Angeles Office have signed a Memorandum of Understanding (MOU) to further promote cooperation in several key strategic areas, including sustainability, environmental initiatives and supply chain optimisation. Port executive director, Gene Seroka and JETRO Los Angeles chief executive director Osamu Taki signed the agr SeaLead appoints new chief executive advisor SeaLead has appointed veteran liner shipping executive SC Chan to the role of chief executive advisor. In this new position, he will report to SeaLead managing director Henry Schmidl and will be based in Singapore. Schmidl commented on the new appointment, "We are delighted to have SC join us in this new advisory role. He has proven experience in growing and developing liner shipping activities a Maersk partners with Carbon Sink LLC on green methanol production As part of the strategy to decarbonise its customers' supply chains, A.P. Moller - Maersk has entered into a green methanol partnership with US-based project developer Carbon Sink LLC. The two parties have signed a Letter of Intent covering the development by Carbon Sink of green methanol production facilities in the United States. The first facility will be co-located with the Red River Energy e ZIM profits over US$4.2 billion so far, while container volumes remain flat The normalisation in container rates has begun, according to ZIM president and CEO, who noted that his company's third-quarter and nine-month results reflect "outstanding execution and elevated profitability". The Israeli container carrier reported US$1.17 billion in net income, US$1.93 billion in adjusted EBITDA and US$1.54 billion in operating income (EBIT) for the third quarter of the year. Al Data Safe House Rotterdam launches operations to ensure confidential exchange of information The Data Safe House Rotterdam Foundation was recently established and the first exchange of information between major industrial companies and network operators is now underway. Port of Rotterdam Authority said in an announcement that data sharing ensures that network operators always have the most up-to-date information on the sustainability plans of affiliated companies. As each company in the Port of Los Angeles reports lower box volumes in October Cargo volume at the Port of Los Angeles (POLA) dropped in October as the Californian port handled 678,429 TEUs, a 25% decrease from the same month in 2021. The Port of Los Angeles has processed 8,542,944 TEUs during the first 10 months of 2022, about 6% down from last year's record pace. "With cargo owners bringing goods in early this year, our peak season was in June and July instead of Septembe ICTSI Georgia receives first call of TBX1 service Georgia's Batumi International Container Terminal (BICT), International Container Terminal Services, Inc.'s (ICTSI's) operation in the Black Sea region, received the inaugural vessel call of COSCO Shipping Lines' subsidiary, Diamond Line's TBX1 service. The 1,200 TEU TBX1 feeder service commenced its weekly calls at BICT in late October with the arrival of AS Fatima. The new service directly call Maersk announces new service to connect India-UAE-Saudi Arabia corridor A.P. Moller - Maersk has announced the launch of a new ocean shipping service, 'Shaheen Express', which started the previous week. The new service will rotate between Mundra, Pipavav, Jebel Ali, Dammam, and Jebel Ali and back to Mundra, connecting India, United Arab Emirates (UAE) and Saudi Arabia. With the new service, Maersk aims to address the rising demand in the trade between the Indian and Svitzer's tug crew lockout threatens to cripple operations at Australian ports Australian container ports are facing a threat of shutdowns and supply chain disruptions after A.P. Moller-Maersk-owned Svitzer, which provides tug boat crews, announced an indefinite lockout from Friday (18 November). The planned action is an escalation of protracted wage agreement disputes with trade unions. "This step is being taken by Svitzer under the provisions of the Fair Work Act in respo

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NOVEMBER 16, 2022
Diana Shipping secures employment for latest ultramax delivery New York-listed Diana Shipping has chartered out its ultramax bulker to Western Bulk Carriers, hot on the heels of the vessel's delivery from Sea Trade Holdings. The Greek owner has fixed the 2016-built ship, formerly known as TH Tokyo, through to between October 16, 2023, and December 16, 2023 at $14,250 per day. The charter ... Performance Shipping fixes fifth tanker on period deal Greek tanker owner Performance Shipping has fixed another one of its aframax tankers on a period deal. The Nasdaq-listed company has sealed a deal with Aramco Trading Fujairah FZE to charter the 2011-built 104,588 dwt Briolette for 18 months starting November at $32,500 per day. Performance Shipping said the charter would generate $16.8m in gross ... Maersk adds US developer Carbon Sink to green methanol supplier list Danish carrier A.P. Moller - Maersk has further strengthened its efforts to accelerate global production of green methanol having teamed up with US-based project developer Carbon Sink. The world's second-largest liner has signed a letter of intent that covers the development of green methanol production facilities by Carbon Sink in the US. The first facility ... Argeo puts its first vessel to work Norwegian surveyor Argeo has signed a contract with an undisclosed client for ultra-deepwater work in the North Atlantic. The deal involves the recently-chartered 2001-built subsea vessel Argeo Searcher and two SeaRaptor AUVs (autonomous underwater vehicles). The project will start after the vessel, formerly known as Ocean Pearl, completes its conversion in January next year and ... Saipem taps CIMC for one more jackup in Middle East Ocean Challenger, the asset management company of Chinese yard CIMC, has secured a new charter deal from Saipem for the 2019-built jackup rig. The rig will be deployed in the Middle East, where Saipem recently won new offshore drilling contracts for two units commencing between the third and fourth quarters of 2023. The Gulf ... CoolCo reveals another three-year LNG fixture LNG carrier owner Cool Company (CoolCo) has sealed a new three-year charter deal for one of its ships. The Eastern Pacific Shipping-led company said in its quarterly business update it had fixed an LNG carrier to an undisclosed player from the first quarter of 2023 at an average rate of around $120,000 per day. Earlier ... Eastern Pacific Shipping tanker hit by armed drone off Oman Eastern Pacific Shipping-operated product tanker has been struck by a bomb-carrying drone off the coast of Oman. The Singapore-based company said the vessel, carrying a cargo of gas oil, was hit by a projectile some 150 miles off Oman at about 15.30 hrs on Tuesday. "We are in communication with the vessel and there are ... Valeura seals Thailand FSO deal with BULL Canadian operator Valeura Energy has secured a floating storage and offloading (FSO) unit for the Wassana oilfield in the Gulf of Thailand. The Calgary-based firm has signed a contract with Indonesia's Buana Lingas Lautan (BULL) for the charter of the 1999-built post-panamax tanker to be used as the FSO vessel. "Valeura and Buana have entered ... Svitzer's Australian lockout threat branded 'economic vandalism' Australia is a day and a half away from seeing many of its most important ports shuttered with frantic discussions ongoing to avert a supply chain crisis brought about by dire relations between sea going staff and the nation's largest towage operator. Svitzer's decision to lockout nearly 600 staff at 17 ports from this Friday ... Navigator announces plans to expand Texas ethylene export terminal Navigator Holdings, the New York-listed owner and operator of the world's largest fleet of handysize liquefied gas carriers, will expand the ethylene export terminal at Morgan's Point, a facility it operates in a joint venture with Enterprise Products Partners. Expansion will start early next year and will conclude by the end of 2024. The terminal ... Fugro wins Danish offshore wind site survey contract Fugro has landed a new contract with Danish transmission system operator Energinet for geotechnical site investigations for the North Sea I offshore wind development. The Danish government plans to expand offshore wind capacity by 4GW by 2030, and the geo-data acquired by Fugro will be used to inform future bids in the area. Fieldwork will ... Bahri splurges $224m on pair of modern VLCCs The sale of a quartet of VLCC sister ships over the past five months neatly illustrates rising tanker values. Elandra Tankers, a joint venture between Vitol and Standard Chartered, took delivery of a quartet of 300,000 dwt VLCCs from Hyundai Heavy Industries in South Korea in 2020, having paid $92m per ship order in 2018. ... Vafias adds capes Greek shipowner Harry Vafias has added two capes to Stealth Maritime's fleet list, bringing its cape tally up to three ships. Numerous brokers report that Stealth Maritime has added the 2011-built, 174,000 dwt, Japanese-built . Sources tell Splash that the Namura-built vessel fetched $27.3m. The ship has been renamed Cape Aria. The last time a ... US BOEM seeks feedback on environmental analysis for proposed wind project off New York The US Bureau of Ocean Energy and Management (BOEM) this week announced the availability of the draft environmental impact statement (DEIS) for the proposed 2,076 MW Empire Wind energy project offshore New York. The Empire Wind DEIS can be found on BOEM's website, and the notice of availability for the DEIS will publish in the ... American Offshore Energy designs new-style floating wind turbines American Offshore Energy (AOE) has designed the first wind turbine - the "American Turbine" - without a centre shaft. The vertical axis turbine features a lightweight structure, like a cross between sailboat masts and bicycle wheels, with a floating base made of fiberglass. The heaviest components - the bearings and generator - sit near sea ...

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NOVEMBER 16, 2022
BP confirms Heroic Idun subcharter Tanker earlier held in Malabo for three months without charge after being detained by Equatoguinean navy Navigator to expand US ethylene terminal amid profit slump The expansion at Morgan's Point with joint venture partner Enterprise Products Partners is expected to begin commercial operations in 2024... Zim lowers guidance as costs rise Zim's earnings have fallen from their peak as demand eases. With a further slowdown and overcapacity looming, it is still... Ukrainian grain exports halve amid renewal uncertainty over Black Sea deal Talks taking place for expansion and renewal of deal BW LPG boosted by higher spot rates and switch to LPG Vessel fleet utilisation improved during the third quarter following the conclusion of a two-year, dual fuel retrofit programme which saw... Why 'compliance' may be the most dangerous word in shipping Anglo-Eastern chief's call for industry to move to a culture of commitment targets leaders whose acceptance of minimum standards is... Poten expects US to increase share of LPG exports to Europe European LPG imports are expected to rise with potential demand coming from the industrial sector, offsetting lower consumption from the... Boxship supply tightens while charter rates stabilise Limited supply of most boxship sizes is giving hope to tonnage providers that they could start to ask for higher... Iran releases Greek hostage tankers Delta Tankers and Polembros Shipping vessels were seized in May in retaliation for US move to confiscate cargo from Greek-held... Golden Ocean expects seasonal softening in dry bulk rates Changing coal flows with longer distances are supportive of freight rates, as are supply-side dynamics, company says More sanctioned tankers lose flag Russian insurance company Ingosstrakh has cancelled blue cards for all the sanctioned vessels Shippers ignore contract commitments amid declining rates Carriers are being warned of 'a hard landing' in freight markets should no further action be taken to control vessel... Iran suspected of Eastern Pacific tanker drone attack Head of US Military Central Command General Michael Erik Kurilla points to Iran as the source of a drone attack... Al Seer Marine orders four MR tankers from K Shipbuilding Tankers will be LNG ready and are being designed to be potentially ready to adapt to new fuels such as... Imports in Los Angeles and Long Beach fall to lowest levels in more than a decade A seemingly stalled labour contract and well-stocked inventories have led to continuously declining import volumes in Los Angeles and Long... Pavilion Energy, Gasum and CNOOC sign LNG bunkering deal The agreement builds on Pavilion Energy's LNG bunkering network partnership with Gasum Daily Briefing Shipping must adapt to new era, says China Merchants Group chairman | Shippers could face bill of up to $14bn...

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NOVEMBER 16, 2022
ERD delay variance hampers US exporters: study Data from visibility provider Portcast shows US exporters struggle to manage changes to early return dates as well as variances in ERD data formats from different terminals. UP battling box congestion at Chicago, Dallas terminals UP is navigating congestion as ocean containers pile up in stacks in Chicago and Dallas, but the western US railroad believes it will clear the backlog at both terminals before the end of the year. Zim posts record nine-month result, but says negative rate trend accelerating Despite a record nine-month result, carrier Zim has downgraded its full-year guidance amid rate declines that are rapidly deepening of late. Maersk inks another methanol production deal for green fleet A new production facility in South Dakota will supply Maersk with 100,000 tons of green methanol a year as the carrier signs yet another deal to lock in the supply of alternative fuels. Prolonged trans-Pacific spot slump has shippers eyeing contract reductions Aggressive curtailing of capacity by container lines on the trans-Pacific has done little to prevent shippers from forecasting sizable contract rate reductions next spring.

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NOVEMBER 16, 2022
Port of Los Angeles' October container volume plummets as labour talks drag on Unions and the port should be able to come to an agreement because they have done so in years past, Los Angeles mayor Eric Garcetti says CMA CGM and American President Lines to welcome new president Ed Aldridge will retire next month to be replaced by supply chain veteran Peter Levesque Performance Shipping stays active with another period fixture Four fixtures made in the last three months will provide nearly $70m in revenue Jefferies cuts Golden Ocean estimates as lower-than-expected profit leaves Nokta on sidelines Investment bank expects 'potentially soft start' in 2023 for New York-listed bulker owner Greece fills up its new FSU as Europe bolsters LNG import options GasLog LNG carrier takes on first ship-to-ship load off DESFA's Revithousa terminal Russian crude exports still depend on EU shipowners, says report Research finds revenue from Russian fossil fuels fell below pre-invasion levels for first time in October Golar LNG eyes up Moss-type LNG carriers as FLNG conversion candidates Some 120 marine personnel will be mobilised on next up floater for Mauritania and Senegal by year-end Green corridor enabling hub set up zero emission mission Public-private partnerships group the Zero Emission Shipping Mission creates online platform aimed at supporting actions to set up green shipping corridors. Who's buying Scorpio? Institutions, hedge funds...heck, even Deutsche Bank Goldman Sachs led the flow into the surging product giant, while another bank's increased holding might come as a surprise Havfram closes in on WTIV order after walking away from JP Morgan deal Boss Ingrid Due-Gundersen explains how new investment was sourced from Sandbrook Capital Green Seas: At COP27, a bid to lift shipping's black carbon emissions up the agenda Our weekly environment newsletter explores an effort to highlight how climate change is enticing more ships to the sensitive region, which is contributing to more climate change Maersk taps Carbon Sink for green methanol ahead of newbuild deliveries Danish giant signs supply deal number eight for its new eco fleet of container ships Iran frees two detained Greek tankers after months of talks Tracking data shows deal has been done after crisis sparked by US demand to seize cargo from Iranian tanker Need for 190 extra VLCCs could extend trading lives by eight years, DSF says Rising demand but limited fleet growth may mean average scrapping age increasing sharply Zim trims earnings forecast and braces for 'new normal' as profits slide Israeli carrier shaves $400-$500m from earnings forecast as container ship downturn bites Viktor Artemov's dark fleet working in Venezuela too, pressure group says United Against Nuclear Iran tracked several ships linked to the Ukrainian national as moving Venezuelan oil How sanctioned Ukrainian grew dark fleet in a matter of months It took blacklisted Viktor Artemov just four months to build much of his fleet of 11 vessels he then allegedly used to trade sanctioned oil Quality tonnage 'scarce' as Zodiac VLCC secures $136,000 per day Brokers describe 'bumper' day of fixing as charterers start to tie up early December vessel loadings Golar LNG cracks on with next FLNG conversion to pin down 2025 delivery Newly FLNG-focused company cashes in on roaring rate environment by fixing out an FSRU and an LNG carrier UK unit to levy £1m-plus fines for Russian oil price cap breaches Guidance focused on London's key finance, legal and insurance service sectors BP breaks silence over VLCC seized by Nigeria Oil major says it is supporting the owners of Heroic Idun that has been detained for more than three months Taiwan finds buyer in Greece's Alberta for newcastlemax duo The Taiwan-to-China pipeline of mature secondhand capesize tonnage has broken after two years with a sale to Greece Dwindling profits signal end of container boom for Asian liner operators Thailand's RCL is latest intra-Asian operator to emerge with lower quarterly profits CoolCo's open LNG carrier duo for 2023 start to draw a crowd Half of company's eight-ship tri-fuel diesel-electric now fixed out on time-charters at over $120,000 per day Could cash-rich Flex LNG tempt private owners to part with LNG carriers? Clarksons Securities says the Fredriksen-backed company could use its premium to net asset value to drive consolidation Eastern Pacific tanker struck by 'drone attack' off Oman, crew not injured Company says the Pacific Zircon suffered only minor damage and all the crew are safe Cash-rich car carrier owners must invest to tackle battery fires, say insurers Shipowners need to spend more on training and equipment, say risk prevention specialists, despite progress on safety SFL's suezmax buys already worth 16% more than purchase price, Hjertaker says Increase in value of Koch-chartered ships important for risk profile, boss adds Eidesvik Offshore back in black after reversing $21m of vessel impairments Improving market conditions prompt a reassessment of book values Germany prepares to fire up the first of six planned FSRU-based terminals Three floating regas facilities expected to be in operation by February with another trio to come onstream later in 2023 BW LPG positive on VLGC market as LPG fuel saves it $6m Singapore owner seeing record US gas output and strong growth in the Middle East Golden Ocean Group rides out weak bulk carrier market to post a profit Weak freight markets weighed on bulker shipowner's third-quarter results but the Fredriksen-backed company is still paying dividends Australia bans bulk carrier for three months over $73,000 in unpaid crew wages ITF said unpaid wages are made up of a 20% shortfall to about 21 crew through August, September and October Tanker owners hesitant over fresh orders, Braemar's Gundy says Fuel dilemma continues to limit appetite for new vessels, CEO believes Buyers 'passionately' seek secondhand tankers for prompt delivery Shipowners paying up if they can get their hands on tonnage quickly, says analyst Eva Tzima Australia bans bulker for three months over $70,000 in unpaid crew wages ITF said unpaid wages are made up of a 20% shortfall to about 21 crew through August, September and October Rina and IMarEST toast the lifetime achievements of shipping's unsung heroes Joint branch of naval architects and marine engineers celebrates winners from past three years at gala dinner in Singapore Carnival launches $1bn bond offering as refinance drive continues Miami cruise giant is seeking to tackle some $35m in debt accumulated during the pandemic

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NOVEMBER 16, 2022
Zim flew higher in shipping boom, falls faster as market sinks Earnings for Zim, the world's 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall. 2021 blockage only latest of Suez Canal's historic moments Egypt's Suez Canal was built 153 years ago this week, and its storied history is so much more than last year's drama. Toronto airport plans to convert offices into cargo facility Toronto Pearson airport is looking for ways to support more cargo business, starting by converting an old office park.