LR grants Brooklyn start-up AiP for maritime ammonia-to-power solution Brooklyn, N.Y.,-headquartered start-up Amogy Inc. reports that it has received Approval in Principle (AiP) from Lloyd's Register for its ammonia-to-power system for maritime applications The AiP covers an ammonia power system that
Crowley charters in 4 LNG-fueled box ships from EPS Crowley has signed long term charter agreements with Singapore-based Eastern Pacific Shipping (EPS) for four newbuild 1,400 TEU LNG-fueled containerships. They will operate in Crowley's U.S.-Central America trade and will be built
Holland America in biofuel test first Carnival Corporation's Holland America Line reports that it has completed the cruise industry's first multiweek test of biofuels on board its 1,432-guest cruise ship Volendam. The 20-day test was conducted in partnership
Crowley, EPS sign long-term charters for four LNG boxships US shipping and logistics company Crowley has awarded Singapore-based Eastern Pacific Shipping (EPS) a contract for the charter of four liquified natural gas (LNG) newbuild container vessels for its US-Central America trade. The vessels will be built by Korea's Hyundai Mipo Dockyard and their delivery is expected in 2025. The boxships will be fitted with high-pressure ME-GI engines from MAN Energ
Boxships delay Kyushu calls ahead of Typhoon Nanmadol Container ships appear to have delayed their arrival in major ports in Japan's Kyushu island as yet another super typhoon bore down on East Asia on 18 September. Typhoon Nanmadol, the 14 th of the East Asian typhoon season, brought record rainfall of 300 to 400 mm of rain and wind gusts of up to 235 km per hour. SITC Container Lines' 907 TEU SITC Nagoya, which had departed China's Dayaowan port o
Suez Canal Authority to apply increased transit tolls next year The Suez Canal Authority (SCA) will increase the transit tolls for all types of vessels by 15% during the next year and by 10% for dry bulk ships and cruise ships as of the beginning of January of 2023. Adm. Ossama Rabiee, SCA's chairman and managing director has confirmed the authority's keenness to apply "a balanced and flexible strategy on pricing and marketing that serves the its own interest
Maersk enhances Samba service Danish box carrier Maersk will add a ninth vessel to the fleet of its weekly North Europe - East Coast of South America "Samba" service in November, while it will also add Tanger Med southbound call to the service's port rotation. As a result, nine vessels of 10,500 TEU capacity will be deployed on the Samba service, which will have the following rotation: London-Gateway, Rotterdam, Hamburg, Antw
New KDB boss: HMM, DSME must be sold at soonest Newly appointed Korea Development Bank (KDB) chairman Kang Seok-hoon said in a press briefing that the bank must divest its holdings in the country's flagship liner operator, HMM, as soon as possible. Kang, who was appointed in June, was speaking at a press conference to mark his first 100 days of office. He opined that HMM's finances and operations have normalised and no longer need state suppor
HHLA CTA aims to become import hub for hydrogen The first test delivery of hydrogen and its derivatives import has been completed at the climate-neutral HHLA Container Terminal Altenwerder in the port of Hamburg. The pilot delivery sets an important milestone for the
D'Amico snaps up Japanese MR tanker Italy's d'Amico International Shipping (DIS) has declared a purchase option on the 2017-built MR product tanker , chartered in from Japanese owner Doun Kisen. Built by Onomichi Dockyard in Japan, the 50,000 dwt vessel, estimated by VesselsValue as worth $42.6m, will deliver in November this year for a price tag of around $30.4m. "By exercising ...
Odfjell Drilling and CIMC secure new semisub deal in Norway Oslo-listed semisub player Odfjell Drilling has agreed a one-well contract with OMV Norge for the rig. The 2019-built rig, owned by CIMC Raffles Offshore, will drill the Eirik well in the production license 817 in the North Sea. The scope of work is estimated to take 60 days and will commence in the first quarter ...
Eastern Pacific Shipping orders LNG-fuelled containerships for Crowley charter Singapore-based Eastern Pacific Shipping (EPS) has sealed a long-term charter deal with US shipping and logistics company Crowley for four LNG-fuelled newbuild containerships. The 1,400 teu vessels will be built by Korea's Hyundai Mipo Dockyard and deliver in 2025, expanding Crowley's fleet and supply chain capabilities connecting US markets to Nicaragua, Honduras, Guatemala and El ...
Helix extends well intervention vessel contract in Brazil Houston-based offshore energy services company Helix Energy Solutions has entered into a two-year extension of its well intervention charter and services contracts with Petrobras for the offshore Brazil. The extension is scheduled to conclude in December 2024 and directly follows Helix's current contracts with Petrobras. "Market conditions globally and in Brazil have been improving, and ...
AD Ports integrates economic zones under KEZAD brand AD Ports has launched Khalifa Economic Zones Abu Dhabi (KEZAD) Group as part of the plan to consolidate and grow its Economic Cities & Free Zones offering and bolster Abu Dhabi's position as the region's leading industrial and manufacturing destination. The move by the ports and logistics giant, owned by sovereign wealth fund ADQ, follows ...
Top dollar for ice class aframaxes as Russian winter approaches One of Turkey's fastest growing shipping companies, Beks Shipmanagement and Trading, has sold a popular ice-class aframax in an overheated market. Multiple sources report the owner has sold the 15-year-old scrubber fitted 115,000-dwt Beks Atlantica for around $33m. Sellers paid about $15.5m for the tanker in September last year. Beks has beefed up its tanker ...
Wpd Offshore becomes Skyborn Renewables as GIP completes takeover Global Infrastructure Partners (GIP) has closed the acquisition of Wpd's offshore wind business and rebranded it as Skyborn Renewables. GIP struck a deal with the German developer in May to acquire 100% of the business for an undisclosed sum. The assets of Skyborn include interests in five operating and under-construction projects in Germany, France and ...
Swedish e-methanol project presses ahead A project to provide sustainable e-methanol for the maritime sector has received the environmental permit for building the first large-scale production facility in the municipality of Örnsköldsvik in northeast Sweden. The project, called FlagshipONE and jointly owned by Swedish power-to-fuel player Liquid Wind and Danish utility Ørsted, is expected to be commissioned in 2024 and ...
'Hard landing' forecast for container freight rates Container shipping has been warned to brace for a hard landing rates-wise as multiple indices around the world plunge further. Utilisation rates are sliding despite an increase in blank sailings. Spot rates, as recorded by the Shanghai Containerized Freight Index (SCFI), are on a "fast-declining trend" according to a new report from Jefferies. The overall ...
RWE sets sights on Latvian offshore wind German utility RWE has teamed up with Latvia's state-owned Latvenergo, one of the largest power suppliers in the Baltic States, to jointly develop, build and operate offshore wind projects off the Latvian coast. An equal partnership has been forged to support the build-out of offshore wind in order to strengthen Latvia's energy independence, which targets ...
Stricken bulk carrier off Gibraltar braces for bad weather The entire hull of the stricken bulk carrier is now resting on the sea bed off the coast of Gibraltar after a successful operation to lower the stern of the ship ahead of a period of bad weather. The ship came into contact with LNG carrier Adam LNG while manoeuvring to exit the port of ...
Ship capsizes at Turkish port A small general cargo ship, , lost stability while unloading containers at the Turkish port of Iskenderun over the weekend. The 4,281 dwt vessel initially tilted starboard to rest on the pier, before taking on water and capsizing to port with many containers falling into the water. The Togo-flagged ship is now on its side ...
Partners Group sells Dutch offshore wind farm stake Swiss-based private equity firm Partners Group has agreed to sell a 20% stake in Dutch offshore wind farm Borssele III & IV to Swiss Life Asset Managers for an undisclosed sum. Borssele is a fully operational offshore wind farm located 55 km from the Port of Vlissingen in the Netherlands. The wind farm is comprised ...
Suez Canal Authority to raise tolls again Having already raised fees three times in quick succession this year, the Suez Canal Authority (SCA) has warned shipowners of another increase coming up. The SCA will raise fees for tankers by 15% starting in the new year, while bulk ships and cruise vessels face a 10% increase in fees to transit the waterway linking ...
Liverpool strike to start this evening The two-week strike at the port of Liverpool on the west coast of Britain will start this evening after unions and Peel Ports failed to reach a pay deal. The strike will coincide with another round of industrial action at Felixstowe, the country's largest container port, where workers will down tools for eight days from ...
New $1bn offshore wind farm vessel player launches in Singapore Singapore-based infrastructure investment manager Seraya Partners has launched a pure-play offshore wind farm vessel player with the aim of investing $1bn into the business over the next three years. The newly-established company, Cyan, said it would own, operate, and lease vessels across the offshore wind farm value chain, including crew transfer vessels, service operation vessels, ...
TECO 2030 displays concept power barge Norway's TECO 2030 has launched a new product concept for its containerised fuel cells, the TECO 2030 Power Barge, which will be able to power ships at anchor. The invention comprises TECO 2030 fuel cell modules, batteries, power electronics, safety and automation systems, hydrogen storage, and a refuelling solution forming a scalable multimegawatt solution for ...
API and US Offshore Operators Committee to develop standards for offshore wind energy The American Petroleum Institute (API) and the Offshore Operators Committee (OOC) - the lease holders who operate offshore energy leases in US federal waters - have signed a memorandum of understanding (MOU) to develop standards and guidance for offshore wind energy development. "The
Eastern Pacific seals LNG-powered boxship quartet deal with Crowley The four 1,400 teu containerships are being built at Hyundai Mipo and will be delivered in 2025
General cargo ship sinks during cargo operations at Turkey port Authorities have opened an incident investigation while the vessel remains capsized and the site of the incident is a restricted...
New offshore wind farm vessel firm eyes $1bn investment in next five years The company claims to be the first pure play offshore wind operator, serving the fast-growing offshore wind farm industry in...
Singapore's bunker sales stable in August There were 9,129 vessels making calls at Singapore's ports in August, 35% of which called in just for bunkering
Coal stockpiles filter out at main European ports This is the first decline in stock levels at the terminals since July. Traffic on the Rhine is now returning...
Daily Briefing Clean tanker rates soaring on global refineries upheaval as Russia sanctions loom | Container spot rates continue headlong plunge |...
Demurrage pains show spirit of OSRA-22 not matching intent A new data element mandated by the Ocean Shipping Reform Act of 2022 in June hasn't changed the score for importers that struggle with the pressure of retrieving containers while disputing demurrage charges.
India to allow transshipment cargo from Bangladesh via ocean The move to allow for transshipment cargo from Bangladesh via barge and short-sea container ships builds on a previous carve-out for cross-border trucking and rail services.
Hapag-Lloyd settles detention complaint from US trucker In the third detention and demurrage complaint against Hapag-Lloyd in the past year, Orange Avenue Express alleged the ocean carrier charged $258,000 in detention for containers that could not be returned due to port congestion.
Egypt ports to nearly double container capacity by 2024 Port terminals in Alexandria, Sokhna, Port Said, and Damietta are edging closer to full utilization, prompting operators to expand existing facilities and build new ones.
Convoy wades into visibility market with new tools Convoy is attempting to differentiate itself within the competitive freight broker landscape by using data gathered from its driver-mandated app to provide more execution-focused visibility insights.
Chinese pandemic restrictions help product tankers, but how long will it last? National Congress of the Chinese Communist Party could see pandemic restrictions ease, BRS Group said
Senior US Coast Guard official pledges to tackle sexual harassment Comments come after a number of high-profile incidents involving female cadets
Nuclear power may 'play key role' in shipping but challenges lie ahead, ABS says Idea has widespread owner interest, but industry is concerned about what to do with waste
IUMI president Turner urges underwriters to evolve or face an uncertain future Pandemic, climate change and war indicate the challenges facing the marine insurance industry
Americas grain trade may be 'saving grace' for panamax bulkers Downward trajectory may continue if this market weakens in the coming week, BRS Brokers says
Performance Shipping takes out loan ahead of product tanker delivery The Andreas Michalopoulos-led owner will use the $18.3m raised in the loan to pay for an LR2 taker
Dividends and debt cuts: product tanker boom 'transformative' for shipowners Clarksons Securities says companies will use enhanced profits to reduce leverage and return cash to shareholders
Power of patience: Thenamaris accelerates tanker sales with disposals of long-held vessels Major Greek shipowner demonstrates the virtues of holding vessels through the business cycles
Munich Re teams up with USCG to combat cargo fires US partners to use data and predictive analysis to spot potentially hazardous cargoes.
D'Amico makes another killing as it declares option to buy MR tanker Italian owner gets its hands on modern vessel for $13m below market price
Green corridor blueprint put together by Maersk zero carbon centre Document developed with McKinsey provides a step-by step guide to demonstrating the feasibility and designing green shipping corridors
Joint venture gone bad: Patriot Offshore founder takes one-time Danish ally to court World Marine Offshore allegedly dropped out of a US offshore wind joint venture with Patriot Offshore to pursue deals with other partners
Eastern Pacific Shipping seals long-term container ship charter deals with Crowley Hyundai Mipo Dockyard has been contracted to build four 1,400-teu newbuildings for delivery in 2025
LPG deals steal the limelight in shifting gas carrier market Solvang, BW LPG and Italy's Gas and Heat are offloading older vessels to willing buyers
Hot second-hand market drives up tanker prices Baltic index shows prices have risen 25% across the board in the last year
Dark fleets go hi-tech to avoid detection Researchers warn of rapid growth in sophisticated new generation of vessel camouflage techniques
Reclusive investor Edvin Austbo reveals stake in shipowner Green Energy Norwegian tycoon builds stake following failed takeover of seismic survey player in July
Second strike at Felixstowe to worsen congestion as peak season develops UK biggest container port to be stopped for eight days again at end of September while strike also set to get underway at Liverpool
Containers lost as Egyptian multipurpose capsizes in Turkey Reason for Sea Eagle suffering water ingress not known
Heerema steps down as head of Allseas Group Eldest son Pieter takes over as president of the offshore pipe-laying and heavy-lift specialist
World's biggest jack-up WTIV damaged in Chinese typhoon Belgian owner Jan De Nul assessing condition of newbuilding Voltaire at Cosco yard in Nantong
Cost of shipping: Egypt plots Suez Canal rate hike next year Bulkers and cruise ships will get away with a smaller rise, however
China switching from Russian oil as VLCC fixing rush pushes rates up 27% Brokers believe refineries stepping up crude imports as China seeks to supply vital oil products for export
People said nuclear plan was 'mad' - now they 'think it's clever', says Core Power's Mikal Boe Core Power's plans to bring molten salt nuclear reactors to shipping are gaining support and they can also help deliver low-cost green fuels
Could nuclear Thor save the Arctic? Vessel using reactor technology could also serve as floating power in disaster zones
Venezuelan terminal engulfed by fireball after tanker hose breaks Product carrier Larko also said to be 'affected' after incident at Guaraguao
Eyal Ofer's Zodiac Maritime ups PCTC newbuild tally at CIMC Raffles The company has fixed out two 7,000-ceu newbuildings to China's SAIC Anji for a long-term period
New Singapore offshore wind farm vessel firm plans $1bn spending spree Seraya Partners-backed company makes third green investment in Asia
Yangzijiang best performing stock on Singapore's STI on talk of LNG orders Analysts say Chinese shipbuilder is poised to secure its maiden LNG newbuilding contract
Fall in container spot rates 'much steeper,' 'less orderly' than expected Container shipping rates - particularly from Asia to the U.S. - are still falling hard and show no sign of finding a floor.
Crowley resumes San Juan operations following Hurricane Fiona Crowley Maritime's Isla Grande Terminal suffered no significant damage when Hurricane Fiona hit Puerto Rico on Sunday.
Port Houston sets container record in August The ports at Houston and Corpus Christi, Texas, continue to see monthly cargo growth from oil and steel shipments.
American Airlines rotates cargo chief again An executive who ran finance for a health care company has been named to lead American Airlines Cargo.
Brazilian airline Gol to pay $41M to resolve bribery investigation Gol was caught bribing government officials in Brazil in violation of the Foreign Corrupt Practices Act, according to investigators.
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