All-electric cargo vessel will be powered by swappable batteries The first all-electric cargo vessel to operate in the Port of Singapore, the Hydramover, will use Shift Clean Energy's PwrSwäp battery-swapping technology. The keel for the vessel was laid in Singapore yesterday
Mayorkas issues "temporary and targeted" Jones Act waiver Secretary of Homeland Security Alejandro N. Mayorkas yesterday released a statement saying that the Department of Homeland Security will approve "a temporary and targeted Jones Act Waiver" in order to address Puerto
World Maritime Day puts focus on technologies and the green transition Today is World Maritime Day and the UN's International Maritime Organization (IMO) is using the occasion to shine a spotlight on the role of emerging technologies in supporting a green transition of
US West Coast port labour talks disrupted by Seattle dispute A conflict involving Seattle's largest port terminal endangers contract negotiations between US West Coast Terminals and a labour union. Pacific Maritime Association (PMA), representing terminal operators on the US West Coast, had been in talks with The International Longshoremen and Warehouse Union (ILWU) for four months now. Accusations are being thrown left and right between the two parties ab
Slump in spot rates to continue The nosediving of spot rates continues, as Drewry's World Container Index revised its own record of the largest weekly fall in recent times. A 10.25% slump saw the World Container Index at US$4,014, just a tad above the psychological mark of US$4,000. The Index is at Dec-2020 levels, in line with its counterpart Shanghai Container Freight Index (SCFI) . The drop this week was punctuated by the Mi
HHLA proceeds with automation of hinterland processes As part of the IHATEC "Pin handling mR" project, the German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) and the Fraunhofer Center for Maritime Logistics and Services CML are researching the automation of pin handling in rail processing by means of mobile robotics in a project supported by the German Federal Ministry of Transport and Digital Infrastructure (BMDV) as part of t
Sri Lanka: Ports as a premier bunker oil supplier Lest we forget, this whole idea of becoming South Asia's maritime hub did not happen overnight - it was a decades-long approach of bringing together the public and private sectors to achieve maritime strategic objectives - a holistic, joined-up industry approach. The article is written by Nilantha Ilangamuwa, Senior Manager, Communication and Public Relations Division, Sri Lanka Ports Authority
CMA CGM applies new peak season surcharges from US French ocean carrier CMA CGM has announced fresh peak season surcharges (PSS), effective from 1 October until 31 December, from the United States to Latin America and the Caribbean. The largest PSS will be applied from the US East Coast (New York, Baltimore, Savannah, Charleston and Port Everglades) to Anguilla, Antigua & Barbuda, Aruba, Barbados, Bonaire, British Virgin Islands, Curacao, Dominic
Port Saint John to upgrade position in North America as it surpasses 100,000 TEUs in 2022 Port Saint John has already moved more than 100,000 TEUs during the current year, which is an all-time record for the Canadian port. The port said that it expects increased box volumes in the future, as it continues along its growth trajectory. The port's capacity volumes are anticipated to reach 800,000 TEUs upon completion of construction at the DP World-operated container terminal in the next
Matson joins LNG industry coalition The Hawaii-headquartered shipping company Matson has joined SEA-LNG, the multi-sector industry coalition established to demonstrate the benefits of the LNG fuel pathway for shipping's decarbonisation. "With its long history of positive innovation in the important and environmentally
Pragmatic action on seafarer wellbeing crucial for a resilient shipping industry An effective, practical wellbeing programme can retain skilled workers and attract new talent. Small investments now will help businesses through the great resignation and cost of living crisis, writes Sandra Welch, CEO of Seafarers Hospital Society. These past few years seafarers' have shown great endurance amid a myriad of challenges. While many owners introduced measures ...
AET links with Thailand's PTT for pair of ammonia-fuelled aframaxes AET, the tanker arm of Malaysia's top shipping line MISC, has penned a memorandum of understanding (MOU) with Thailand's largest state-owned, multinational energy company, PTT for the development and construction of two ammonia-fuelled aframaxes. Under the deal, AET will select a suitable shipyard for the pair of zero-emission dual-fuel tankers with deliveries to PTT for ...
D'Amico agrees $54m tanker refinancing Italian owner d'Amico International Shipping (DIS) has sealed a refinancing deal for five of its MR tankers. The Milan-listed company said it has inked a five-year loan agreement with two of its closest banks Crédit Agricole and ING to draw down $54.2m and refinance the South Korean-built Glenda Melissa, Glenda Meryl, Glenda Melody, and Glenda ...
Subsea 7 charters in Jones Act-compliant ships Oslo-listed Subsea 7 has bolstered its Gulf of Mexico fleet having chartered in several Jones Act-compliant vessels on the back of continued demand for subsea services in the region. The long-term deals cover three ships from Louisiana-based Otto Candies and one earlier announced and now confirmed from Otto's compatriot Bordelon Marine. Otto Candies is providing ...
Nordic American Tankers banks $21m from sale of ageing suezmax Herbjorn Hansson-led Nordic American Tankers (NAT) has sold one of its nineteen-year-old suezmax vessels to an undisclosed international energy major, earning $21m in net proceeds from the deal. The New York-listed firm said delivery will take place in the fourth quarter of 2022 and that cash will be used to reduce the company's debt. Nordic ...
New leak detected in Nord Stream gas pipelines Another leak has been revealed on the Nord Stream gas pipelines in the Baltic Sea, making it the fourth discovered this week, with sabotage widely suspected. Sweden's coast guard said it had detected a second gas leak in the Swedish economic zone on the Nord Stream 2 pipeline, close to a larger leak found earlier ...
Vard's methanol-powered WTIV seals design approval Norwegian shipbuilder Vard has been awarded approval in principle from class society DNV for the design of its methanol-powered wind turbine installation vessel (WTIV). The so-called VARD 4 52 design features a methanol-electric system, which, together with a large battery pack, can reduce the CO2 footprint by up to 90%, Vard said. The vessel has ...
Gulf Marine Services scores bumper deal for two vessels Gulf Marine Services (GMS) has won a new long-term contract at improved rates from a national oil company (NOC) in the MENA region for two of its vessels. The UAE-based liftboat operator has fixed one of its smaller (K-class) and one of its larger (E-class) vessels for a total duration of 72 months. The London-listed ...
Wind-powered cargo capacity breaks through 1m dwt mark Wind propulsion has progressed from a perceived blue sky technology in the previous decade to gaining industry interest in recent years. The conversion of that interest into investment is now happening at a rapid pace, with large commercial vessels featuring wind-assisted propulsion passing the 1m dwt cargo carrying capacity mark. There are currently 21 large ...
Singapore: 'Partnership is key in the decarbonisation journey' How the Lion Republic is working with the industry to foster shipping's carbon transition. Shipping is undergoing its greatest transition in a century, and Singapore is determined to be a central thought leader for the greening of the industry. While the likes of Scandinavia and Japan positioned themselves early on as shipping decarbonisation pioneers, Singapore ...
World Maritime Day: Keep seafarers in mind when developing shipping technology On World Maritime Day shipping has been reminded to keep seafarers in mind when developing shipping technology. The theme created by the International Maritime Organization for today's maritime day is new technologies for greener shipping with secretary-general Kitack Lim
AET partners with PTT on ammonia-fuelled aframax order
US levies fresh sanctions on Iran's product exports US government applies more pressure on Tehran as nuclear talks falter
US waives Jones Act for foreign-flagged tanker in Puerto Rico Homeland Security Secretary grants 'temporary and targeted' waiver allowing diesel-laden tanker to unload in the hurricane-ravaged island after several days...
Shipowners' emission payments to EU should be 'earmarked for special fund' Call for shipping fund comes as the EU commission, council and parliament meet up for trilogue talks to negotiate the...
Some Florida ports reopen as Ian weakens and moves northeastwards After 'catastrophic flooding' in east-central Florida, several ports have reopened. Elsewhere, others are likely to reopen soon, says president of...
Greece and Cyprus seek greater consultation on Russia sanctions Measures must take into account operational realities, says Greek shipping minister Ioannis Plakiotakis
Container contract rates follow declining spot market With pressure coming from many directions, long-term rates are now also showing signs of reversing
Shipping needs problem-solvers more than ever It is highly likely that coronavirus case numbers will rise as the northern winter approaches. Several important lessons were learnt...
Yangzijiang offered maritime funding for LNG carriers Chinese shipbuilding guru Ren Yuanlin reveals how he aims to better combine the strength of finance into the family business
Why safety and sustainability are shipping's licence to operate 'A great safety performance results in a great business performance - if you get the safety right, you get everything...
Imabari Shipbuilding collaborates with Hitachi Zosen on engines Hitachi Zosen will spin off its marine diesel engine business and allow Imabari to acquire a 35% stake in the...
MISC consortium seeks funding for LNG carrier project Funding proposals sent to affirm banks' commitments for the project given the rising interest rate backdrop
Fratelli Cosulich signs ammonia bunker tanker deal with CIMC yard Deal agrees to the construction of an ammonia bunker tanker without any further details on price or delivery
Keppel O&M secures $2.8bn FPSO contract from Petrobras The P-83, scheduled for delivery in early 2027, is a repeat order of the P-80 floating production, storage and offloading...
Daily Briefing EU finds legal basis for oil price cap on Russia oil as sanctions extended | IMO backs new tech to...
Ian makes landfall in Florida as category 4 hurricane Majority of Florida's ports are closed, with disruption expected in Georgia and South Carolina over the next 48 hours
GSBN tests digital process to share shipping data with banks A consortium of liner carriers and terminals aiming to speed the sharing of shipment data with banks believes it can overcome a chronic consent hurdle in the process.
Domestic chassis balance likely to come in 2023: equipment providers While there are delays in the production of 53-foot chassis, a slowdown in domestic intermodal demand will likely bring supply and demand into balance in 2023, say domestic equipment providers.
Tive spreads wings with new pharma product, forwarder deal Tive has been piloting its new pharma product, which meets a variety of requirements around data security and storage, with 34 companies over the past two months.
Asia-Europe ocean contracts under pressure as rates tumble Spot rates on the Asia-North Europe trade lane have now fallen 50 percent since January as softening demand and worsening economic indicators lead to a steady slowdown of the container shipping market.
COVID-19 gives rise to new risk calculus for supply chains The legacy of the pandemic's effect on supply chains will be less about permanent cost increases and more about permanently altered attitudes towards risk, writes JOC's Peter Tirschwell.
Shipping caught up again as US continues Iran crackdown Chinese and Emirati managers and a Panama-flagged LPG carrier land on the US blacklist
'No major damage' as Port of Tampa Bay avoids direct hit from Hurricane Ian Storm is expected to make landfall again over South Carolina on Friday, the National Hurricane Center says
US industry groups denounce Jones Act waiver for tanker off Puerto Rico Island continues to receive plenty of fuel, so a waiver allowing a Marshall Islands-flagged tanker to deliver diesel is unnecessary, groups say
Subsea 7 charters string of Jones Act offshore vessels for Gulf of Mexico work Otto Candies fixes three vessels to offshore engineering outfit after charter of ship from Bordelon Marine
Hugh Titcomb named next Thomas Miller chief executive Senior appointment at UK insurance company awaits shareholder approval
Nordic American Tankers continues clearing vintage ships in latest sale The company moved one of its three 2003-built tankers, netting it $21m
AET teams with PTT to build green ammonia-fuelled aframax tankers First-of-their-kind newbuildings are being slated for delivery dates in late 2025 and early 2026
Fuel leak reported as Seacon tanker holed in clash with fishing vessel Dutch Coast Guard at the scene of Thursday's collision off Ijmuiden
International Seaways master tells of jail hell over 'illegal' Indonesian anchoring Glenn Madoginog was held for months after authorities accused him of entering territorial waters without a permit.
D'Amico clinches $54m refinancing of MR fleet acquired from Glencore venture Loan package also covers smaller product carrier Cielo di Capri
Streetwise: Will owners using cash for impressive debt repayment soon have another priority? Level of prepayments is good for owners and bad for banks but there is another factor that will cause shipowners to part with some of their windfall cash. Our ship finance newsletter explores
'We're going after sanctions evaders,' top EU official warns European Commission President Ursula von der Leyen says the latest sanctions package includes legal groundwork for an oil price cap
Navigating stormy times, Vogel brings sunny message to Miami ASBA conference Vogel brings mostly bright forecast, noting increases in tonne-mile pickups and opportunistic moves
Bidding open: UK reveals new £60m pot for clean shipping initiatives Transport secretary Anne-Marie Trevelyan says cash will go towards innovation in the energy transition
Tight LNG carrier market set to roll on through 2026 despite any fleet underutilisation Fearnleys says tonne time rather than tonne miles has been driving the market this year
Russian oil price cap must heed shipping, Greece warns Industry players continue harbouring doubts as to how exactly the planned oil price cap could work in shipping
Dry bulk market seems to 'have found bottom' as coal demand is poised to remain healthy China's efforts to revive economy and real estate sector should benefit capesize bulkers and smaller ships, Jefferies analyst Omar Nokta says
When the gunfire stops: Fresh hope for the next generation of Ukrainian seafarers Fifty cadets leave for Lithuania to complete their studies after Russians occupy a leading maritime centre
New Saudi yard launches heavy-hitting maritime fund to expand Hartmann-Abou Merhi fund Pelagic Partners appointed to manage the ambitious venture
Seismic survey merger goes ahead as TGS wins 75% of owner Magseis Fairfield Charterer succeeds with offer to buy Oslo-listed partner
Bulk carrier wreck continues to leak oil off Gibraltar Trapped oil is being removed from the hull as pollution is cleared from a nearby coastline.
'Targeted' Jones Act waiver allows Hayfin tanker to dock in hurricane-hit Puerto Rico Biden administration bows to pressure to let diesel-laden MR into Caribbean island
Northern Lights lines up next two larger LCO2 carrier newbuildings Pricing emerges for first generation of liquefied CO2 newbuildings as yards field increasing number of enquiries for emerging sector
UK shipbroker Braemar forecasts 88% profit jump after 'significantly' higher trading Six-month earnings update reveals shipbroking activity up as dollar strength boosts revenue
Are shipping's firebrands truth-tellers or destructive dinosaurs? Whether straight-talking veterans are bringing the industry into disrepute or highlighting inconvenient truths is likely in the eye of the beholder
Credit squeezed and contracts stretched: Maritime fuels giant Monjasa reveals how war is redrawing markets Shifting trade patterns and sanctions compliance are putting pressure on fuel suppliers, Danish group says
Nantong MOU inches Fratelli Cosulich closer to ammonia bunker tanker newbuild Singapore-based bunkering company says yard's experience will be important for this project
Petrobras back at Singapore's Keppel for second $2.8bn FPSO Yard group says the repeat nature of the unit's design means it will be able to leverage economies of scale in the procurement of materials
Shipping giant Maersk: 'Significantly less demand' but 'no hard landing' Supply-demand dynamics that supercharged pandemic-era rates are now "exactly the opposite," says Maersk CEO Soren Skou.
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