Dubai-based Transworld Group enters the tanker segment in its latest diversification move with the acquisition of 2 LR tankers
Bahri's Chemicals and Logistics business units sign MoUs to strengthen cooperation with Luberef
ArcelorMittal Nippon Steel India's acquisition of port & power assets from Essar Group expected to generate operational synergies
Centre launches framework for safeguarding & protecting consumer interest from fake & deceptive reviews in e-commerce
IndiGo CarGo commences operations with first freighter flight between Delhi & Mumbai
Cathay Pharma launched
SpiceXpress reports Q2 net profit
IAG Cargo expanding capacity
JNPA inaugurates Continuous Marine Water Quality Monitoring Station & launches Electric Environmental Monitoring Vehicle to help achieve leadership in sustainability
India becomes net importer of steel once again in Oct.
AD Ports Group delivers record net profit in Q3 2022 with 77% growth YoY
Target of Rs 2,000 cr. millet exports by FY26: APEDA
Contracts inked to export 35 LT sugar in 2022-23 season
Cochin Port draught to be deepened
A.P. Moller-Maersk adds Khazaen Dry Port to its global network of port calls
Prysmian back at Vard for a second advanced cable layer Milan, Italy, based cable-laying giant Prysmian has returned to Fincantieri's Norwegian-headquartered Vard subsidiary with an order contract for a 170 meter cable lay vessel. It will be very similar to the Leonardo
Master Boat Builders wins its first contract from Moran Coden, Ala., based Master Boat Builders, Inc. reports that it has executed a contract to build two new tugboats for New Canaan, Conn., headquartered Moran Towing Corporation. The two tugs will be
Cadeler orders second F-class installation vessel Danish-headquartered, Oslo-listed, wind turbine installation vessel specialist Cadeler A/S has placed an order for a second F-class vessel for delivery in the second half of 2026. It will take the total number
Hutchison Ports installs solar panels on Barcelona container terminal Hutchison Ports BEST (Barcelona Europe South Terminal) terminal, located in the Port of Barcelona, Spain has installed 1,832 solar panels on almost 5,000 m² of its buildings. The company has already contracted electricity with a 100% renewable origin guarantee at the beginning of 2022, in order to maintain its commitment to the decarbonisation of the sector. This is an auto-supply installation ca
New IMO regulations to support container freight market recovery The limited increase in ship supply driven by the new International Maritime Organization (IMO) regulations is expected to contribute to the recovery of the shipping freight market in the medium and long term, according to S&P Global Market Intelligence. The analysis shows that while freight rates are expected to return to the pre-pandemic level in 2023, limited active supply growth driven by reg
Norfolk Southern confirms Cincinnati Southern Railway takeover Norfolk Southern Corporation (NSC) announced the execution of a purchase agreement under which NSC's subsidiary Norfolk Southern Railway Company will acquire substantially all of the assets of the Cincinnati Southern Railway (CSR). CSR is an approximately 337-mile railroad that runs from Cincinnati, Ohio to Chattanooga, Tennessee. CSR is currently owned by the City of Cincinnati and operated by t
MSC drops interest in ITA Airways stake acquisition The largest container shipping company in the world MSC has told Italian authorities that it is no longer interested in investing in ITA Airways as part of a planned privitisation. MSC and German airline Lufthansa had expressed interest at the beginning of the year to acquire a majority stake in ITA Airways, the successor to Alitalia. However, the discussions did not come to an agreement. "MSC di
Maersk Tankers sees Sanmar Shipping return as pool partner Maersk Tankers has welcomed Sanmar Shipping back as a pool partner. The vessel Sanmar Sangeet has rejoined Maersk Tankers' LR2 pool, attracted by the two companies' shared determination to decarbonise and the trading strategy of the pool. The latter has led to strong earnings, in particular over the past few quarters, according to a statement. Sanmar Shipping joins Maersk Tankers' pool at a time
Gothenburg port involved in three shipping decarbonisation projects selected by Sweden Three Port of Gothenburg projects for a green transformation of the shipping industry have been selected by the Swedish government to constitute the country's contribution to the international initiative Green Shipping Challenge. The initiative is led by the United States and Norway and was launched earlier this week at the COP27 climate summit in Sharm-el-Sheikh, Egypt. After COP26 in Glasgow, t
First users of Container Exchange Route at Port of Rotterdam Rotterdam World Gateway (RWG), the Delta terminal of Hutchison Ports ECT Rotterdam (ECT) and Kramer Group will be the first market parties to be connected to the Container Exchange Route (CER). CER is a closed track that aims for faster, more efficient and integrated transport of containers between locations on the Maasvlakte in Rotterdam. This network is about 17 kilometres long and is going to
Maersk enhances global network of port calls with Khazaen Dry Port A.P. Moller - Maersk has added Khazaen Dry port (KDP), part of Asyad Group, to its "Port of Call" network offering business transportation, container terminal, and reefer container services. KDP is located close to Maersk's customers' manufacturing hubs around Muscat, the capital of Oman, and the gateway it opens to global markets. By adding KDP to the network of ports and offering land freight a
Kanfer Shipping teams with Brazilian trader on small-scale LNG supply Norwegian small-scale LNG and bunker vessel company Kanfer Shipping has signed a partnership agreement with Brazilian LNG trader and project developer Nimofast to offer small and medium-scale LNG shipping, floating storage units (FSU) and LNG bunkering solutions in Brazil from 2025. Nimofast will be establishing a permanently based FSU at the Nimofast LNG import and ...
Prysmian returns to Vard for another cable layer Italian cabling giant Prysmian has contracted Fincantieri-controlled Norwegian shipbuilder Vard for the design and construction of a cable-laying vessel worth around €200m. Vard said the new vessel will be very similar to , which it delivered to Prysmian in 2021. The 170-m newbuild has been designed for deepwater installation capabilities of more than 3,000 m ...
Cadeler continues fleet expansion with second foundation installation newbuild at Cosco Cadeler has placed an order to build its second foundation installation vessel, bringing its future fleet to six. The Denmark-based company is currently building two wind turbine installation vessels (WTIVs) as well as a foundation installation unit of the so-called F-class, which are set to be delivered from the second half of 2024 onwards. The company ...
Equinor developing ammonia-fuelled CO2 carrier for direct offshore injection Norwegian energy giant Equinor has teamed up with compatriot Breeze Ship Design to develop an ammonia dual-fuel CO2 carrier concept with direct offshore injection capabilities. Carbon capture and storage (CCS) is a key enabler in the energy transition to a low carbon value chain, where CO2 shipping is an important part of the technology development. ...
Reach Subsea lands 'significant' contract in West Africa Norwegian offshore services player Reach Subsea has signed a conditional letter of award for a significant project in West Africa. The Haugesund-based company will be a sub-contractor to an undisclosed major tier-one contractor. The work scope involves support for the installation and anchoring of an offshore unit, as well as survey and positioning tasks to ...
UK North Sea decommissioning spend forecast at nearly $24bn over next decade More than 2,000 North Sea wells involved in oil and gas extraction are to be decommissioned at a cost of around £20bn ($23.7bn) over the next decade, according to industry forecasts. The findings come from a new insight into petroleum decommissioning activities, produced by industry body Offshore Energies UK (OEUK), formerly Oil & Gas UK. ...
Sanmar Shipping returns to Maersk Tankers' LR2 pool Denmark's Maersk Tankers has welcomed Indian tanker player Sanmar Shipping back as a pool partner. The Chennai-based firm, which operates a fleet of ten ships, comprising eight tankers and two LPG carriers, has re-joined Maersk Tankers' LR2 pool with the 2004-built . "We have had the pleasure of working with Sanmar for many years, during ...
MSC ditches bid to buy Italy's top airline Mediterranean Shipping Co (MSC), the world's largest containerline, has informed the Italian authorities that it is no longer interested in investing in ITA Airways, the successor to heavily in debt Alitalia. MSC had partnered with German airline Lufthansa earlier this year to bid for a stake in ITA. The bid process has proven difficult however ...
Pertamina plans $3bn fleet spend Pertamina International Shipping, Indonesia's largest shipping line, is lining up a $3bn fleet rejuvenation and expansion over the coming five years. The subsidiary of the nation's state energy firm will also invest in LNG tonnage for the first time, senior executives revealed at a press briefing in Jakarta. "We will invest big in replacing vessels," ...
Russia's crude fleet deemed ready for December 5 EU ban With 13 days to go until the European Union's ban on Russian crude shipments kicks in, analysts at BRS reckon Moscow has now accrued enough dirty shadow tonnage to permit the nation to support its crude exports at close to today's level, and will likely have done similar on the product side when a similar ...
BW Offshore's Brazilian FPSO deal falls through as Shell puts investment decision on ice Norway's BW Offshore is set to have its limited notice to proceed on Gato do Mato floating production storage and offloading (FPSO) vessel terminated after UK supermajor Shell put off the final investment decision (FID) on the oil and gas field development offshore Brazil by up to two years. In May, BW Offshore secured a ...
Containers front and centre in tonight's World Cup match between Poland and Mexico At 7pm local time tonight Mexico will kick off against Poland in the FIFA World Cup at a remarkable shipping-inspired sporting location, Stadium 974. The only waterfront venue with a spectacular view of the Doha skyline, the stadium was constructed using 974 standard certified shipping containers, echoing the nearby port and the industrial history of ...
Valaris lines up drillship for BP's Egyptian campaign Valaris has been awarded a four-well contract with BP for the 2014-built drillship offshore Egypt. The contract is expected to start late in the third quarter or early in the fourth quarter of 2023 and last for around 320 days. The drillship has operated for the UK supermajor on several contracts offshore Africa over the ...
Drone attack on VLCC taking on oil in Yemen A near miss for a VLCC from another drone strike at a terminal in Yemen yesterday has ship operators worried about passing certain hot spot areas in the Middle East. The Hong Kong-owned, Panama-flagged VLCC was attacked by Houthis while taking on a cargo of oil at the al-Dhabba oil terminal in Hadhramaut province. The ...
Ukrainian crew supply nearly in balance Danica Crewing Specialists reports that the availability of Ukrainian seafarers has increased to the point that there is now a better balance between the number of vacancies on offer and the candidates available to fill these positions. This situation is a far cry from the previous three quarters of the year where crew supply was ...
European shipping rallies ahead of ETS ruling As the negotiations on the revision of the European Union (EU) emission trading scheme (ETS) enter their final stretch today, European shipowners, ports, the cruise and ferry sectors, shipyards and equipment manufacturers, fuel suppliers, shippers, forwarders, port operators, shipmanagers and the European maritime clusters have called on the European Parliament and the Council to earmark ...
Transworld enters the tanker segment Dubai's Transworld Group has diversified from its container origins into the tanker sector. The company, which also has a small dry bulk exposure, has bought two 74,000 dwt LR1 tankers, and . The ships will work within Navig8's LR8 pool. Ramesh Ramakrishnan, chairman of Transworld, commented: "The acquisition of two tanker vessels is a testimony ...
Diana Shipping finds new deal for kamsarmax bulker NYSE-listed dry bulk owner Diana Shipping has sealed a time charter contract with Singapore-based Chinese firm Salanc for 2010-built kamsarmax . The new charter commenced today, and is through to between April and June 2024 at a rate of $15,000 per day. The vessel has just completed a contract with Cargill at $22,000 per day. ...
RWE and National Grid award Fugro offshore survey contract for work in New York Bight Community Offshore Wind, a joint venture between RWE Renewables and National Grid, has awarded Fugro an offshore survey contract to support site appraisal and concept design activities in the New York Bight. Survey work detailing geophysical and environmental conditions within the 510 sq. km lease area will commence this year, with the majority being executed ...
Possibility of US rail strike rises as another union rejects tentative agreement The last two of 12 unions voted last week on ratification of their labour agreements with the major US freight railroads and announced results on Monday. One of the two unions ratified its deal, the other rejected its. In total, four of the 12 unions rejected their agreements and remain without a contract. The mandated ...
Shipping methane emissions set to be added to EU carbon market Almost finalised deal being negotiated between parliament, council and commission revealed by Green MEP
Navios Logistics increases income from ports, barges and cabotage South American logistics arm in the black for third quarter
TEN wins deal for up to three shuttle tankers US-listed tanker own posts best third-quarter results since 2007
More P&I clubs looking for double-digit rate hikes for 2023-24 Another expensive year is on the cards for shipowners following modal average price jumps of 7.5% in 2020, 5% in...
No upturn in demolition sales as recycling prices decline Ships have arrived at recycling yards and then about turned for further trading because of a lack of buyers or...
Sufficient shadow tanker fleet capacity to ship sanctioned Russia crude exports Fleet consists of more than 500 tankers over 34,000 dwt, defined owned by national fleets of Iran, Russia or Venezuela...
Drone attack targets VLCC tanker at Yemen terminal Second drone attack in recent days highlights risks to merchant ships operating in the Red Sea, Middle East Gulf and...
Study finds fire is biggest cause of marine losses Misdeclaration or non-declaration of dangerous cargoes often a contributory factor, while recent increase in engine room blazes may point to...
Container port anchors major UK investment proposal Backers believe the UK government is seeking to develop nationally significant infrastructure projects that would deliver renewable energy
Philippines has capacity to meet global seafarer shortage Filipinos have a keen interest and are willing to go to sea, something that is lacking in many countries at...
Carriers blank more capacity as vessel utilisation falls With demand collapsing on some routes, carriers are finding it hard to fill their ships. Heavy cuts on the transpacific...
Top 10 shipbrokers 2022 Strong freight and chartering markets in the dry cargo, container and gas sectors have benefited the shipbroking majors as the...
Cosco to offer trackable carbon-neutral services State giant, which recently ordered 12 ultra-large boxships that can run on methanol, is also working with domestic partners on...
Philippines commits to seafarer standards European Maritime Safety Authority raised 23 grievances it noticed during its 2020 inspection, including the failure of certain maritime schools...
US faces rail strike after key union rejects labour agreement Railroads and unions have until early December to reach an agreement, but Congress could also intervene
South Asian recycling yards urged to adopt Hong Kong Convention standards Bangladesh has committed to ratify the convention by the end of next year
China seals major long-term LNG supply deal with Qatar Deal 'marks the longest gas supply agreement in the history of the LNG industry', said QatarEnergy chief executive
Samsung wins $255m shuttle tanker order No further details were disclosed except expected delivery by mid-2025
Daily Briefing Shipowners intensify lobbying as EU closes in on deal on emissions trading | Top 10 Shipmanagers | Container spot rates...
Richard Lidinsky, ex-FMC chair and champion of shippers, dead at 76 Richard Lidinsky, a former chairman for the US Federal Maritime Commission, leaves a legacy of agency reform whose work echoes through the Ocean Shipping Reform Act of 2022.
2M and Zim suspend USEC service as rates, volumes drop near year's end Maersk and MSC have suspended a trans-Pacific US East Coast service as freight rates and volumes continue to slump as 2022 winds down.
Drought-stricken Mississippi disrupts northbound breakbulk cargo Drought is keeping the Mississippi River at historically low water levels, tying up barge capacity and extending the southbound grain season.
Overcapacity, falling spot rates risk trans-Pacific rate war The highs for the container shipping industry, as measured by profits and pricing power, hit atmospheric levels, raising questions of just how steep a fall is in store.
LA-LB, NY-NJ at or near normal cargo fluidity: APM Terminals The cargo surge that began with the COVID-19 recovery in mid-2020 forced US ports to develop a new playbook to cope with the unprecedented port and inland supply chain congestion that resulted, according to APM Terminals.
Maritime sector turns up heat on Europe's ETS lawmakers Europe's executive bodies head into their final round of negotiations to set the parameters governing shipping's inclusion in the regional Emissions Trading System with industry stakeholders watching closely.
Tsakos Energy Navigation results some of its best ever, but investors still sell New York-listed owner falls just short of best-ever results and suggest there is more on the way
Samsung Electronics and Zim working out US regulatory complaint Zim's camp has asked for an extension as the two sides work toward an 'amicable resolution'
Kanfer Shipping hooks up with Brazil's Nimofast on small-scale LNG Brazilian trader and prospective LNG importer unveils new import terminal plan
Equinor developing large CO2 carrier fuelled by ammonia Energy giant tasks Breeze Ship Design with concept for 40,000-cbm newbuilding
Cadeler splashes out on $345m turbine installation ship in China Owner secures more capacity with second hybrid jack-up
Standard Club targets 10% P&I premium increase at its final renewal before merger Insurer will combine with North P&I Club next year
Sanmar Shipping returns to Maersk Tankers pool with LR2 addition Indian owner wants to cut emissions as earnings for clean vessels rise
Up to 18 LR2s 'dirty up' to capitalise on $200,000 aframax rates Hafnia bosses reveal how flexible ships are switching to crude loadings for huge pay days
Fire burns a hole in shipping's $9.2bn insurance claims bill Analysis by Allianz shows that costly boxship and car carrier casualties now rank number one in claims value
John Michael Radziwill: buying bulker resales makes increasing sense C Transport Maritime has bought four bulk carriers for two of its portfolio companies
Container newbuilds fixed 'below expectations' after charter market tanks Tsakos newbuildings reportedly fixed to Middle East owner for shorter periods and lower rates
Nigerian piracy suspect 'wanted to experience the open sea' Trial begins in Copenhagen after notorious firefight last year involving Danish troops
Capesizes go unsold as scrap prices take another tumble Bulkers receive disappointing offer levels that were then withdrawn as steel prices fell
S&P forecasts shipping rate recovery in 2024 after dip next year Analyst believes increased scrapping and slower speeds will help container ships and other sectors
ViaMar brings in Fearnleys analyst Martin Kjendlie as new boss VesselsValue-owned research company taps Norwegian investment bank as it increases Nordic focus
Shipping needs pilots and training to accelerate safe decarbonisation Creating new fuel supply chains requires multiple pilot projects, write Maritime Technologies Forum members Georgios Plevrakis for ABS and Knut Arild Hareide at the Norwegian Maritime Authority
Charterers to access RightShip ratings through Veson Nautical Charterers' market and vessel management provider will share ship safety scores and greenhouse gas ratings
Jones Act tanker fleet fully employed as short-term rates hit $65,000 American Shipping Co expecting strong market for years ahead due to lack of new ships entering fleet
BW LNG tipped to scoop term deals from Equinor's two-ship tender Charterers are diving in to book tonnage several years out as available vessels vanish and term market tightens
Volatile tanker market sees rates go 'completely bonkers' Baltic Exchange tanker index at highest level for 18 years as rates respond to ship shortages
Vopak and Petronas team up to tap into Singapore's carbon shipping chain Groups to study the transport and storage of CO2 from industrial emitters
Vopak and Petronas team up to tap into Singapore carbon shipping chain Groups to study transport and storage of C02 from industrial emitters
Another VLCC tanker targeted by drone as Houthis attack Yemen terminal Gigantic Ozone Energy tanker left port following incident
North-Standard Club merger gets off to a hairy start Merging mutuals show they can work together as they team up on taches
Tsakos Energy Navigation linked to double suezmax shuttle tanker order at Samsung Heavy TotalEnergies has chartered the pair on a long-term basis for use in Brazil
Qatar and Sinopec sign 'longest gas supply agreement in LNG industry history' Deal comes as China looks to bolster energy security in wake of disruptions caused by Ukraine invasion
Frederik Mohn and private equity firm snap up ex-Fredriksen DSME drillship Upstream oil and gas sector-focused investor pays $200m for unit ordered in 2013 at more than $500m
Plunging spot rates drag down container shipping contract rates Ocean carriers have been shielded by lucrative annual contracts with cargo shippers, but contract coverage is starting to crumble.
Boeing certification troubles in Canada ground 1st WestJet freighters Canada's WestJet plans to start flying cargo jets next year after a frustrating wait to get the planes registered.
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