NDAA adds $4.7 billion to Navy shipbuilding spend The U.S. Senate last night passed the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 by a vote of 83-11, clearing the way for it to go to the
Cadeler will power its wind turbine installers using MAN mixed engine concept The two X-class and two F-class vessels on order at the COSCO Heavy Industries shipyard in China for Danish wind turbine installation vessel specialist Cadeler A/S will use a mix of medium-
New cranes to increase Antwerp's Europa Terminal capacity and reduce emissions Belgian terminal operator PSA Antwerp has signed an agreement with Austrian crane manufacturer Kuenz and global technology provider in electrification and automation ABB to order 14 new automated stacking cranes (ASCs) for Europa Terminal at the Port of Antwerp-Bruges. When the new equipment arrives, the Europa Terminal will have 48 new ASCs to operate its upgraded yard. According to PSA Antwerp,
PSA Antwerp inks deal to upgrade Europa Terminal PSA Antwerp and the temporary partnership Stadsbader/DSG signed an agreement to upgrade the civil and electrical infrastructure for the first phase of the works at PSA Antwerp's Europa Terminal in Belgium. The works, which include preparing the yard for new automatic stacking cranes (ASCs), quay cranes and new truck flows, will start on 9 January 2023 and are expected to be completed by the secon
Performance Team inaugurates new cold chain storage facility in Texas Performance Team introduced its new cold chain storage facility, hosting a ribbon-cutting customer reception in Houston, Texas to launch the US Gulf's newest cold chain infrastructure. According to Maersk-owned Performance Team, the Houston market is a high growth logistics center in need of more cold storage capacity for frozen foods and perishables that will be well-served by the company's supp
Fewer boxes for COSCO SHIPPING Ports in 2022 The global port operator COSCO SHIPPING Ports (CSP) has announced declines in container volumes during November and in the first 11 months of the year. COSCO's port operating arm reported a year-on-year 7.5% drop in November box volumes handling more than 8.5 million TEUs. The company said the decrease was mainly due to the impact of weak demand in overseas market. While Yantian Terminal, termina
Atlantic spot rates about to collapse: Sea-Intelligence While freight rates have been dropping consistently on most trades, they have remained at high levels on the Transatlantic due to capacity issues. However, according to Sea-Intelligence, this is about to change, as carriers are injecting serious amounts of capacity into the trade lane. From North Europe, capacity growth is scheduled to begin spiking from mid-December 2022, reaching a temporary ap
More work for Aquadrill drillship in US Gulf UK-headquartered rig owner Aquadrill, formerly Seadrill Partners, has confirmed additional work for the drillship in the US Gulf of Mexico. The 2013-built managed pressure drilling (MPD)-equipped unit, has been booked by BP for 150 days in a deal worth about $60m. The rig is managed by Houston-based Diamond Offshore Drilling. The campaign is set to ...
Shell and Eneco emerge as winners of Dutch offshore wind tender A joint venture of supermajor Shell and Dutch utility Eneco has won the tender to build a 760 MW offshore wind farm at the Hollandse Kust West site in the Dutch North Sea. The wind farm, located around 53 km west off the Dutch coast from the town of IJmuiden, is expected to be operational ...
Jacktel wins Aker BP contract Norway's Jacktel has secured a contract with Aker BP for the 2011-built accommodation jackup rig . The four-legged self-elevating accommodation unit will work on the Valhall PWP-Fenris project offshore Norway for 15 months, commencing in the second quarter of 2026. The contract is worth around $87m including mobilisation and demobilisation and gives Aker BP options ...
Beks bags another cape Istanbul-based Beks Ship Management and Trading has cemented its spot as one of the top buyers of capes in the region. Sources report that the Turkish player has grabbed its sixth cape, its fourth purchase in as many months, taking the 17-year-old, CTM-managed , a 176,000 dwt Universal built ship, for an undisclosed price. Beks ...
Marlink: Satellite disruption inbound The disruption caused by Low Earth Orbit (LEO) satellite services is already visible with the naked eye; and that's before any of the providers led by Starlink and OneWeb have a full service in place. But while there's no doubt that LEO will change the game for buyers and sellers of bandwidth, there are multiple ...
Corroded lashings to blame for 2020 APL box spill off Sydney A final report into the loss of containers from a ship off Sydney in 2020 has noted the importance of vessel fixtures being regularly maintained to ensure they are secure and stable. The 2001-built containership was making its way down the east coast of Australia on May 24 2020 when, in adverse weather, it underwent ...
HGK Shipping strengthens dry bulk position Germany's HGK Shipping, one of Europe's top inland shipping names, has bought out a shareholder to take full control of joint venture BeKa HGK, and now intends to intensify dry bulk business activities on the Upper Rhine, Danube and Mosel rivers. The previous co-shareholder, Monique Hezel-Reyntjens, will continue to manage the business of BeKa HGK. ...
Marco Polo Marine lines up first deal for CSOV newbuild Singapore offshore vessel player and shipyard Marco Polo Marine has lined up the first contract for its specialised offshore wind commissioning service operation vessel (CSOV) newbuilding, set to enter the market in 2024. PKR Offshore, the company's Taiwan subsidiary, has signed a memorandum of understanding with Vestas to deploy the vessel across several offshore wind ...
Euronav dismisses combination fears raised by Alex Saverys The board at Euronav have dismissed a letter sent earlier this week from Alexander Saverys, the CEO of Compagnie Maritime Belge, calling for an end to the proposed combination agreement with tanker rival Frontline. Saverys had argued that now that his company holds a 25% stake, capable of blocking a full-on merger, a combination - ...
New marine underwriting agency launches Kevin Wolfe, a 40+ year veteran of the marine insurance market and US private equity firm Beat Capital Partners, have launched specialty marine underwriting agency, Marcato Marine Insurance Services. Marcato will have the capacity to offer project cargo limits up to $147.5m, and $20m for cargo/warehouse, hull/P&I, and marine liabilities. Wolfe, formerly with Allianz, commented: ...
2022: The year shipping made do without China Shipping is never dull, and the moment you feel it might be is probably the time to seek a different career. Being in this industry gives those curious enough an advanced view from the bridge of geopolitical and economic forces shaping the world. Unquestionably the biggest news story of the year - the one that ...
Maersk taps Houston firm for green methanol supplies A.P. Moller - Maersk has signed a green methanol letter of intent with Houston-based SunGas Renewables, which provides technology and equipment systems for large-scale production of renewable fuels. This is Maersk's ninth such partnership to drive the acceleration of global production capacity for green methanol. The letter of intent covers the production of green methanol ...
US FMC probing shipping lines' anti-retaliation compliance The US Federal Maritime Commission (FMC) is asking the top 20 shipping lines calling the United States to provide information on how they are complying with the new prohibitions on retaliation established by the country's Ocean Shipping Reform Act of 2022 (OSRA). Added protections against retaliation were created through OSRA and became effective immediately upon ...
Poseidon Principles must show that virtue signalling can have teeth As the recent annual disclosure report establishes, shipping is currently struggling to meet existing lacklustre IMO ambitions on greenhouse gas...
China fails in bid to omit reference to tougher shipping climate change targets in key IMO report A last-minute debate in the final hour of a five-day meeting at the International Maritime Organization underscored the sensitivities and...
Box shipping has evolved, says Skou as he prepares for Maersk exit Speaking exclusively to Lloyd's List two weeks before he steps down as chief executive of AP Moller-Maersk, Søren Skou says...
Capesize market lifts off The scaling back of China's draconian Covid policies has bolstered sentiment in the capesize market. What is more, higher iron...
The Lloyd's List Podcast: Søren Skou reflects on a life in shipping Maersk's chief executive Søren Skou joins the Lloyd's List Podcast this week for his exit interview. After six years transforming...
Marine insurance: No respite for owners on hardening rates This time, the alibi for the rate increases is inflation. Rocketing costs for labour and steel are making it more...
Skuld back in the black at nine-month stage Two Scandinavian P&I insurers have published financial updates. These highlight rising inflation and falling investment returns
Coal demand to rise 1.2% this year to all-time high The rise in the use of coal combined with shifts in trade patterns as a result of Russia's incursion into...
Philippine president commits to uphold seafarer training standards Actions are in response to findings by the European Maritime Safety Authority earlier this year, where it raised 23 grievances...
It's time to grasp the science behind sustainability If we cannot measure shipping's real climate performance, we cannot change it. Finding a way to measuring our footprint should...
Shipbuilding: Full orderbooks, but labour shortages could threaten delivery schedules Containerships make up more than 40% of the current global orderbook, while the tanker share is at a record low...
Daily Briefing Bosporus letter of guarantee 'falls far short of Türkiye demands' | Outlook Poll: Global recession risk looms large for shipping...
Acquisitions on the radar as Hamburg boxship owner Offen seeks to diversify Chief executive Arnt Vespermann is actively looking for investment opportunities that would lessen the group's dependence on post-panamax containerships
FMC probes shipping lines for retaliatory practices The Federal Maritime Commission is examining how the top 20 carriers are training employees at every level to comply with increased...
Maersk signs ninth partnership for green methanol supply Maersk enters another partnership in its pursuit of securing green methanol supplies, a key part of its ambitious decarbonisation strategy...
Panama Canal reopens Miraflores lock after fire temporarily blocks traffic A fire in a tunnel in the upper chamber of the Panama Canal's Miraflores lock temporarily closed traffic on Thursday...
Car carriers enjoying 'exceptional conditions': Clarksons Longer voyages, high demand, and tight capacity are boosting earnings and charter rates in the global car carrier segment.
Trans-Pacific rates settling at a shifting bottom: sources Carriers, forwarders, and shippers say there will be no pre-Lunar Year bump in rates because they expect US demand to remain weak while exports from China decline further.
Carriers halt spot bookings from South China amid capacity crunch: forwarders China's exports fell almost 9 percent in November, while carriers continue to pull significant levels of capacity on trans-Pacific and Asia-Europe services.
Carriers on India trades face steepest rate slide since onset of downturn Capacity cuts and service realignments could be looming on trades out of India as carriers face an acceleration of recent rate declines.
Fresh decline in US imports from Asia further hobbles trans-Pac trade The decline in US imports from Asia is expected to accelerate in the coming months as earlier-than-usual Lunar New Year factory shutdowns in China cause production to plummet.
Bargain shoppers accelerate US retail inventory shift As inflation-battered consumers shop for bargains, US retail discounters are expanding their distribution networks.
'Finally happening': IMO makes progress in teeing up historic carbon decisions in July UN shipping regulator moves closer to carbon levy and more ambitious greenhouse gas target
China establishes massive iron ore buyer, but market expert plays down shipping impact Weather in northern Europe put 'mini-squeeze' on capesize bulker rates, Breakwave Advisors' John Kartsonas says
Green Seas podcast: Why some nations oppose more ambitious carbon targets for shipping Audio edition hears from the countries that think it's too soon to amp up the IMO's ambition
Yasa boosts newbuilding tally to new heights with fresh orders Some of Turkey's biggest shipping players are piling up shipyard contracts and secondhand acquisitions
CMB's Windcat orders series of hydrogen-powered CSOVs in Vietnam Saverys family company follows up deal for CTVs with more innovative ships
Solstad banks $43m profit from selling CSV outside oil and gas sector Norwegian owner takes advantage of rising asset values in better offshore markets
Editor's selection: Lenders off track from green goals, Maersk's Skou to step down, and the Saverys turn the screw Some of the biggest and brightest stories that illuminated the week in shipping
Havila Kystruten wins $46m in court over unfinished Spanish cruise ships Saevik family company had to complete delayed vessels in Turkey
Greece's TMS Tankers 'trading in price-capped Russian crude' Cargo tracker Kpler says size of European fleet moving Russian oil has decreased since 5 December
Car carrier prospects bright despite orderbook hitting 10-year high, Clarksons says Broker's research division also lays bare huge increase in secondhand values
Klaveness finds 'holy grail of inefficiencies' that could cut grain shipping emissions Ingrid Kylstad believes decarbonisation need not all be about increased costs
Hanwha Group inks deal to take over South Korean yard DSME After over 20 years of sales talk one of South Korea's top three shipbuilders finally gets a new owner
German's second FSRU shifts onto its berth in Lubmin with first cargo inbound A flotilla of tugs is escorting the regas unit into the draft-restricted port area
Law firm Tatham & Co brings in Ioanna Vitta to set up shop in Greece Senior lawyer recruited from Penningtons Manches Cooper
More delays at Panama Canal as fire breaks out at Miraflores lock Operations suspended at the gate after machinery blaze
China's Zhejiang Xiehai inks $190m order for bulk carrier quartet Privately owned outfit signs up for two newcastlemaxes and two kamsarmaxes
Harald Fotland beefs up Odfjell's top team with three new promotions New CEO creates commercial and technical roles, while discontinuing COO job
Croatian shipyard to complete Russian chemical tanker ordered in 2004 Unfinished MR appears to be part of series originally contracted by Odfjell at Sevmash
China's Zhejiang Xiehai inks $190m order for bulker carrier quartet Privately-owned outfit signs up for two newcastlemaxes and two kamsarmaxes
Seaspan admits defeat in $300m investment-grade bond battle Meeting cancelled as container ship owner fails to drum up enough support to amend terms
Tristar Maritime tanker rescues two men and their dog adrift off Delaware Happy ending for trio adrift on disabled yacht for 10 days
Norwegian marine insurer Skuld profits from low claims Results are positive but there are worries over future inflation
Deutsche Bahn to consider sale of huge Schenker logistics unit The German national railway is looking to sell off its DB Schenker logistics business if it can get a good price.
CMA CGM Air Cargo 'temporarily' suspends US operations Ocean carrier CMA CGM's new cargo airline made the unusual decision to stop serving U.S. customers and lease planes to other carriers for a short period.
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