Sea Machines and USCG partner on computer vision domain awareness Boston-based Sea Machines Robotics Inc. has installed its new AI-ris computer vision product onboard a 270-foot U.S. Coast Guard Famous-class Medium Endurance Cutter ahead of an upcoming deployment. AI-ris uses artificial intelligence
OMSA applauds Garamendi legislation on Jones Act loopholes Congressman John Garamendi (D-Calif.) has introduced the "Close Agency Loopholes to the Jones Act" bill that would close the loopholes in the Jones Act created by "letter rulings" from U.S. Customs and
Ørsted acquires Europe's largest e-methanol project Ørsted is going all in on green e-methanol and sees green fuel for shipping as a major market. Its board has taken a final investment decision (FID) on the 50,000 tonnes/year FlagshipONE
Marine Log's Top Women in Maritime in 2022: The full interview As the maritime industry continues to increase diversity and bring more women into its ranks, we wrap up 2022 for the third year in a row by bringing to you our list
Chinese cruise ship design gains AiP A design for an 80,000 gt cruise ship developed independently by China State Shipbuilding Corporation (CSSC) has been given Approval in Principle (AiP) by China Classification Society (CCS). CSSC sees this as
Eneti books first contract for WTIV newbuild Eneti Inc. (NYSE:NETI) reports that its Seajacks UK Limited subsidiary has signed a contract with an undisclosed client to transport and install turbines for an offshore wind project commencing in the first
VIDEO: WSF ferry Issaquah gets an electronics update When the 1979-built Washington State Ferries (WSF) car/passenger ferry M/V Issaquah came up for an electronics update, WSF turned to long-time partner Furuno USA for the very latest in navig
Decreased container traffic at port of Melbourne in November Port of Melbourne saw total container throughput (full and empty) in November down 8.4% over the same month in 2021 with a total of 258,449 TEUs. Additionally, year-to-date container volumes of the Australian port are increased by 5.6% compared with the same period last year. Full overseas imports were down 12.16% in November with domestic appliances, non-electrical machinery, ceramic goods, clot
Understanding the most common cybersecurity compliance regulations and standards Computers, networks, software applications, systems, and data are all protected from potential digital threats by cybersecurity. Organizations have a responsibility to keep data secure to guarantee customer trust and meet regulatory compliance. Cybersecurity measures are taken to protect confidential information from unauthorized access as well as to avoid network intrusions that can disrupt busi
Suez Canal Authority, MACN sign agreement to provide cooperation framework The Suez Canal Authority (SCA) signed a Memorandum of Understanding with the Maritime Anti-Corruption Network (MACN) to provide a framework for cooperation in common fields, affirming the authority's keenness to interact with international institutions to ensure transparency and enhance integrity procedures and standards of maritime transactions and related port operations. According to MACN, the
APM Terminals maintains Port of Itajaí operations for another year APM Terminals will continue to operate the Port of itajaí in Brazil in the next year after the signing of a Transitory Lease Agreement from the Maersk-owned port and terminal operator and the Municipality of Itajaí, through the Superintendence of the Port (SPI). The negotiations between the Brazilian port authority and APM Terminals were resumed on 11 November, when the SPI decided not to proceed
GEODIS to acquire trans-o-flex to develop its network in Germany GEODIS has signed an agreement to acquire trans-o-flex, a company in the premium express sector in Germany specialised in temperature-controlled transport for pharmaceutical products as well as in time-definite delivery of products for cosmetics, automotive and high-tech industries. Since 2016 the company is owned by the families Schoeller and Amberger who have invested to scale it up to a leadin
THE Alliance unveils upgraded service network for 2023 THE Alliance, comprising Hapag-Lloyd, Ocean Network Express (ONE), Yang Ming and HMM, has reconfigured its service network for the next year. The updated service setup will enter into effect from April 2023. According to a joint statement of the companies, one of the key highlights will be the deployment of larger newbuild ships to the Asia and North Europe trade. A modern series of fuel-efficien
ICTSI inks new 30-year lease for box terminal in Poland International Container Terminal Services Inc. (ICTSI) and the Port Authority of Gdynia have signed a new 30-year lease for the Baltic Container Terminal (BCT). The new lease, which was signed in Gdynia on 19 December and will run until 2053, extends the tenure of BCT under the management and operation of ICTSI, the sole owner of the terminal. ICTSI has been active in the major Polish port since
HMM opens dedicated north India ICD access for Kattupalli port call In an industry-leading move, South Korean liner HMM has opened a dedicated container train service from North India (ICD Tughlakabad) to Kattupalli Port, an emerging gateway near Chennai. "With extended support from its service partner - Container Corporation of India (Concor), HMM has launched a new, direct rail service from ICD Tughlakabad to Kattupalli Port, to connect to its direct FIL servic
Hapag-Lloyd updates service connecting Asia with North America Hapag-Lloyd's service EC5, connecting Asia with the East Coast of North America, has returned to its former port rotation. The Hamburg-headquartered container carrier has announced the updated rotation below: Westbound: Laem Chabang (Thailand) - Vung Tao (Vietnam) - Singapore - Colombo (Sri Lanka) - Halifax (Canada) - New York (US) - Jacksonville (US) - Norfolk (US) Eastbound: New York (US) - Sav
Operation disruptions at Rotterdam continue, Maersk announces contingency plans There are still significant disruptions at the Port of Rotterdam operations due to ongoing industrial action across multiple terminals at the Dutch port caused by Collective Labour Agreement (CLA) negotiations that are taking place between unions and the Hutchinson Delta II and Maasvlakte II terminals. Maersk said in a recent customer advisory that it expects its TA1 and TA3 services to be affect
APM Terminals expands Truck Appointment System roll out APM Terminals' new Truck Appointment System, piloted earlier this year, is going global with ongoing plans to roll this online service out further, reducing truck turn times, streamlining gate access and improving logistics planning worldwide. The system, launched in Monrovia last year, has been rolled out to the West Africa Container Terminal in Onne, and APM Terminals Yucatan. The standardised
United Maritime books sizeable profit on latest tanker disposal United Maritime continues to take advantage of the strong tanker market to offload another vessel at a significant profit. The Nasdaq-listed spinoff of Greek owner Seanergy Maritime is selling the 2008-built LR2 product tanker for $39m. The Chinese-built 109,000 dwt vessel will change hands by the end of this year, leaving the company with one ...
Navigator and Greater Bay Gas ethylene carrier JV adds its first ship A joint venture between New York-listed handysize gas carrier owner and operator Navigator Holding and its Chinese partner Greater Bay Gas has acquired the first of its scheduled five ethylene vessels. The jv, owned 60% by Navigator and 40% by Greater Bay Gas, has added the 2018-built 17,000 cu m liquefied ethylene gas carrier and ...
Grindrod delisting on the cards as Taylor Maritime secures 83% London-listed Taylor Maritime Investments (TMI) has closed its offer to acquire all of the issued ordinary shares in Grindrod Shipping, increasing its stake in the Singapore-based company to 83.23%. The Ed Buttery-led bulker owner tabled its voluntary conditional cash offer of $26 per share in October, valuing Grindrod at $506m. The offer became unconditional late ...
Eagle Bulk Shipping to move listing to NYSE from Nasdaq US-based Eagle Bulk Shipping will transfer the listing of its shares from the Nasdaq Global Select Market (Nasdaq) to the New York Stock Exchange (NYSE). The Gary Vogel-led bulker owner should start trading as a NYSE-listed company at market open on January 4, 2023. Eagle's shares will continue to trade on the Nasdaq until the ...
Vattenfall to build Finland's first large offshore wind farm Sweden's Vattenfall has partnered with Finnish state-owned enterprise Metsähallitus to build and operate Finland's first major offshore wind farm. The project, located at Korsnäs off the Finnish west coast, will have a capacity of 1.3 GW and a potential annual production of 5 TWh. Vattenfall was selected in the first of a number of international ...
Ørsted takes over Europe's largest e-methanol project Denmark's Ørsted has acquired full ownership of the Swedish project FlagshipONE, which is set to become Europe's largest e-methanol plant for shipping fuel in 2025. The Fredericia-based utility has acquired the remaining 55% stake in the project from Swedish power-to-fuel player Liquid Wind, the original developer of the project. A final investment decision has been ...
Eneti scores debut contract for WTIV newbuild Monaco-based owner and operator of offshore wind vessels Eneti announced that its subsidiary Seajacks has inked a deal with an undisclosed client for the first of two wind turbine installation vessels (WTIV) currently under construction in South Korea. The deal will see the NG16000X-class vessel transport and install turbines for a project commencing in the ...
Edda Wind seals another SOV extension with Ørsted Norwegian offshore wind service pure play Edda Wind has secured a charter extension with Danish utility Ørsted for the service operation vessel (SOV) . The firm contract, which was set to expire at the end of August next year, has been extended for an additional 12 months at a dayrate subject to annual escalation. The ...
Keppel Offshore and Marine concludes Brazilian corruption case with $65m fine Keppel Offshore and Marine (KOM) has finally fully resolved the case related to corrupt payments made by its agent to officials of Brazilian state-run oil company Petrobras and Brazilian politicians between 2001 and 2014. In 2017, the company reached a global resolution with authorities in the US, Brazil and Singapore, through which it was ordered ...
Maritime media's Russia-Ukraine coverage lacks balance Self-appointed maritime media critic Santosh Patil takes us and others to task over how we have covered this year's war in eastern Europe. It is often said that truth is the first casualty of war. This maxim holds good even in today's digital age where information is literally available at your fingertips. In the times ...
Avangrid fails to renegotiate power purchase agreements for Commonwealth Wind project In a statement on the Commonwealth Wind project website, Avangrid indicated that "unprecedented challenges in the global economy" have made the project economically unviable. Avangrid had tried to renegotiate its contracts with the three electric distribution companies (EDCs) involved in the project to offset its increased costs due to inflation, but the companies refused "to ...
Eagle Bulk to transfer US listing to big board Move expected to improve company's trading liquidity and overall standing within the financial markets, says chief executive
United Maritime doubles its money on aframax sale Company strikes deal to sell LR2 for double the price it paid earlier this year
EU approves $85m Finnish loan to support Meyer Turku yard Finland turns to EU state aid rules designed to 'support the economy in the context of Russia's war against Ukraine'
CMA CGM names France's former treasury head as finance chief Ramon Fernandez is currently an executive vice-president of finance, performance and development at telecommunications giant Orange
Regulation: 2023 will be an agenda-setting year for shipping With only a couple of inter-sessional working groups between now and the July 2023 deadline, propelling the notoriously glacial pace...
Ship finance: More options amid sea of uncertainties Smaller and medium-sized owners are still very much provided for, but wider upheavals are taking a toll on deals
Outlook 2023: The case for optimism amid turbulent times Optimism is a rare commodity in European boardrooms right now, amid an energy crisis, high inflation and slowing growth - but...
Iberdrola to build $1.17bn green methanol plant in Australia The price per tonne of methanol is currently four times that of conventional fuel oil
Carriers urged to remove more capacity amid weak rates Current capacity reduction efforts are insufficient to reverse the rate decline and will hurt market prospects in the coming new...
Daily Briefing West African waters evolve as tanker spoofing centre as 'dark fleet' increases in size and notoriety | Dark ship activity...
Global air freight capacity oversupplied entering 2023 Whereas a shortage of capacity in major trades was the chief issue for air cargo providers over the past two years, the greatest challenge in 2023 will be a lack of demand.
THE Alliance rolls out megaships in 2023 network update THE Alliance member Hapag-Lloyd says shippers can expect a "simplified" network in 2023, but that could mean larger ships, fewer services, and less transshipment.
Regulatory support missing in drive to scale up green fuel: Ørsted Danish power company Ørsted says policymakers must provide a regulatory environment that allows companies to commit to the huge investment required in developing shipping's fuel of the future.
US ports not prepared for next cargo surge: experts While congestion at US ports and inland hubs has eased significantly amid declining import volumes, stakeholders need to act now to ready themselves for the next cargo surge, supply chain experts say.
Calmer supply chain waters beckon in 2023 As the US economy slows, logistics managers are searching not just for lower supply chain costs but a normalization of freight flows and networks, a level of stability and predictability that remains elusive.
Congress directs USDOT to prepare national maritime plan The National Defense Authorization Act for Fiscal Year 2023 requires the US Department of Transportation to make recommendations for how Congress can invest in and increase the resilience of the US marine transportation system.
Intermodal volumes falling fast, rates to follow in 2023 Domestic intermodal volume suffered its worst November in seven years, which will put additional pressure on intermodal providers to provide concessions to shippers on contracts for 2023.
Why real estate, rather than Covid-19, might decide capesize market's fate in 2023 People in China are still working from home as Covid-19 continues to break out across country, broker says
Navigator-Greater Bay joint venture grabs first vessel and a loan agreement Outfit is expected to acquire a total of five vessels by the end of 2023
Eneti shares climb as contract revenue beats analyst expectations Scorpio Group-backed wind vessel player expected to earn between between $265,000 and $282,000 per day on first contract
OceanPal carries out 1-for-10 reverse stock split in bid to keep listing Shipowner's share price has been below Nasdaq's minimum bid-price requirement of $1 for past year
Bamboozled Polembros Shipping looks to unfreeze funds after fraudulent Iran sale Subsidiary for the Greek shipowner files court papers to free $12.3m after 2020 sale to alleged Iran-backed front companies
OrbitMI launches automated weather routeing system with DTN Vessel software firm teams up with weather data group to develop system being used by Western Bulk Carriers and Stena Bulk
Limited impact on LNG shipping seen from EU gas price cap New European Union measure comes with bailout options to assuage concerns on security of supply
Frontline investors back Cyprus switch as part of merger plan Special general meeting in Bermuda was part of the process towards the goal of unifying fleet with Euronav
Shipping should protest the US' criminalisation of seafarers Maritime pollution enforcement is a shakedown game in the US, where seafarers can be deprived of their liberty for years
Frontline investors to vote on Cyprus switch as part of merger plan Special general meeting in Bermuda is a key part of the process towards goal of unifying fleet with Euronav
Container shipping's green performance flounders, but tankers shine Wider efforts of shipping industry to reduce GHG emissions are showing 'mixed results'
Turkey's Botas pays up to charter in country's third FSRU Two-year old unit will be deployed in Saros Bay in northwestern region
Diamantides cashes in on tanker bonanza with aframax group sale Major Greek owner raises $140m from divesting his four oldest crude carriers and also scraps a capesize on the side
HMM and NYK Bulk join forces on heavy-lift service New break bulk service will run between the Middle East and Far East
Iberdrola investing $1.2bn in Tasmania green marine methanol plant New facility will be one of the largest in the world eventually producing up to 300,000 tonnes of methanol in Australian island state
Finland due to receive first FSRU early next week Late Christmas present incoming for Baltic states as another regas unit relocates to northern Europe
Taylor Maritime wraps up Grindrod acquisition deal London-listed bulker operator announces offer to buy remaining shares in the bulker company has closed
CMA CGM appoints Orange executive as new finance chief Ramon Fernandez replaces Michel Sirat, who moves to running the Saade family office
China's Zhoushan Changhong makes tanker debut as newcomer inks MR duo Shipyard's new tanker company Pro Tanker Investment orders two vessels
Record haul of LNG carrier newbuildings worth over $35bn logged for 2022 Some momentum set to roll on into 2023 but berth slots for 2027 are likely to remain in short supply
Eagle Bulk linked to second ultramax bulker swoop this year Deal comes as price estimates for ultramax bulkers have slid more than 4% in a month
Autos, crude oil boost Gulf Coast ports' November volumes Auto imports, crude oil and petroleum shipments rose as ports in Houston, Corpus Christi and New Orleans recorded mixed freight volumes in November.
Air Canada prepares Vancouver hub for 2024 arrival of 777 freighters Air Canada is beefing up ground infrastructure as it develops a new fleet of freighters able to raise transport reliability for logistics customers.
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