GC Rieber orders two advanced SWATH-based WindKeeper SOVs Norway's GC Rieber Shipping has placed an order with Cemre Shipyard in Turkey for two innovative WindKeeper Service Operation Vessels (SOVs) based on Small Water Area Twin Hull (SWATH) methodology and design.
HII books Navy LHA 9 award worth potential $3.2 billion Huntington Ingalls Industries (NYSE:HII) reports that its Ingalls Shipbuilding division in Pascagoula, Miss., has been awarded a $2.4 billion U.S. Navy fixed-price-incentive contract for the detail design and construction of amphibious assault
MARAD awards $703 million in Port Infrastructure Development grants The U.S. Department of Transportation today announced the award of grants totaling more than $703 million to improve port facilities through the Maritime Administration's Port Infrastructure Development Program. In total 41 projects
APM Terminals Mobile reports record container numbers in September APM Terminals Mobile handled 56,545 TEUs the last month, making September the largest throughput month since the Maersk-owned port operating company began operations in Alabama, US in 2008. With 421,232 TEUs, moved year-to-date, 2022 volumes are now 14% higher than 2021 volumes in APM Terminals Mobile. In addition to record-breaking container numbers, intermodal rail moves in September were up 14
Limited scrap potential as tonnage overhang imminent The container shipping market could face massive overhang with 7.3 million TEU of newbuildings expected to be delivered by 2025. Alphaliner said that this represents 28% of the existing cellular fleet, expected to hit the market by the end of 2025. By comparison, the container ship fleet is expected to see only about 1.1 million TEU of newbuildings hitting the water in 2022, about the same as in
DP World boosts London Gateway with Konecranes automated port equipment UAE-based port and terminal operator DP World ordered 18 Automated Stacking Cranes (ASCs) from Konecranes for London Gateway Terminal to enhance the equipment of its major box facility in the United Kingdom. The order, which was booked in April, will add 18 units to an existing fleet of 60 ASCs. The integration of London Gateway's existing fleet with the new Konecranes cranes will take place in p
PIL introduces intermodal solutions Pacific International Lines (PIL) has introduced the PIL Intermodal Services, which offers train, truck and barge services across the company's network in Intra-Asia, Africa, Middle East, Latin America and Oceania. The Singaporean carrier aims to empower its customers by providing them with a larger variety of cargo transportation ways. Lars Kastrup, CEO of PIL, commented, "We have seen growing m
Maersk stretches cargo airline wings with inaugural US-Korea flight A.P. Moller - Maersk announced the inaugural flight of Maersk Air Cargo's new air freight service with scheduled flights between Greenville-Spartanburg, South Carolina (GSP) and Incheon, Korea (ICN). The scheduled transpacific operation will commence on 31 October with two weekly flights introducing the first of three newly built Boeing 767-300 freighters that have recently been purchased by Maer
Cosco orders twelve methanol-fuelled 24,000 teu ships Chinese boxship giant Cosco Shipping Holdings has ordered twelve methanol dual-fuel 24,000 teu containerships worth nearly $2.9bn. The order has been spread between its container shipping units, Orient Overseas Container Line (OOCL) and Cosco Shipping Lines, for seven and five ships at $239.85m each. Nantong Cosco KHI Ship Engineering and Dalian Cosco KHI Ship Engineering, ...
MOL fixes another LNG newbuild Japanese shipping giant Mitsui OSK Lines (MOL) has inked a new multi-year contract to charter an LNG carrier newbuild to an unnamed energy major. The 174,000 cu m vessel, booked for construction at Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea is expected to deliver in 2026. The ship will feature the latest ME-GA ...
GC Rieber Shipping orders service operation vessels in Turkey Norway's GC Rieber Shipping has booked two service operation vessels (SOVs) at Cemre shipyard in Turkey with the first delivery expected in the first quarter of 2025. The Oslo-listed shipowner and project house has established a stand-alone company for the vessels called WindKeeper with a total investment of about €110m ($109.6m). The WindKeeper SOVs are ...
Green Energy Group to change name back to SeaBird Oslo-listed Green Energy Group is separating its minerals and seismic businesses and changing its name back to SeaBird Exploration. SeaBird rebranded and reorganised into Green Energy Group last May, forming Green Minerals and Seabird Exploration as two subsidiaries of the group and releasing SeaBird from the holding company status. The company was planning to sell ...
MOL taps water as new business stream Shipping's thirst for alphabet soup shows no sign of relenting with another ship acronym unveiled today.Mitsui OSK Lines (MOL), Japan's largest shipping company in dwt terms, is keen to develop floating desalination vessels (FDVs) to help solve the world's water scarcity challenge. To this end, MOL has signed a memorandum of understanding with Norway's EnviroNor ...
IEA sees ammonia winning shipping's future fuel race Ammonia will be shipping's dominant fuel by 2050, the International Energy Agency (IEA) has predicted. In the World Energy Outlook 2022, published by the IEA yesterday, the Paris-based agency sees ammonia meeting around 45% of demand for shipping fuel by 2050. Bioenergy and hydrogen each meet a further 20% of demand the IEA is projecting, ...
PIL debuts intermodal offerings Singapore's largest containerline is moving beyond its port-to-port roots. Pacific International Lines (PIL) today debuted PIL Intermodal Services, offering train, truck and barge services across its existing network in intra-Asia, Africa, Middle East, Latin America and Oceania. Lars Kastrup, CEO of PIL, said, "We have seen growing market demand for intermodal services in recent years. ...
Hyundai Heavy's Gunsan yard reopens A ceremony to partially reopen Hyundai Heavy Industries' shipyard in Gunsan, 179 km southwest of Seoul, took place today, with prime minister Han Duck-soo in attendance. Some 750 workers have been hired and the yard will focus on block building. HHI began to build its Gusan yard in May 2008 at the peak of the ...
Splash seeks writers in Singapore Splash is seeking journalists in Singapore. Splash is in the market for shipping writers who have a strong understanding of the markets and are digital savvy. Writing daily news stories, attending industry events, and helping with the digital roll-out of the news agenda are the three main aspects of the job position. "Singapore, where we ...
Crowley to develop and operate California wind terminal at Port of Humboldt Bay US company Crowley has signed an agreement with the Port of Humboldt Bay to exclusively negotiate to be the developer and operator of a terminal to serve as California's first hub to serve offshore wind energy installations. The privately held company, headquartered in Jacksonville, Florida, will negotiate with the port to lease and serve as ...
Biden-Harris administration announces more than $703m for US ports US administration announces more than $703m dollars to optimise and improve port infrastructure in an effort to bolster supply chain...
The good times are still rolling. But for how long? Shipping has so far done well from the literally killer combination of the most devastating pandemic to hit the world...
Coal use to peak in five years, says IEA The International Energy Agency argues that the second-largest bulk commodity to be moved by sea is facing a decline over the...
Cosco orders $3bn methanol-fuelled ultra-large boxships Seven ships were ordered by Cosco's Hong Kong-listed subsidiary OOIL, which says the choice of methanol as marine fuel demonstrates...
Master charged with drunk sailing after boxship runs aground in Denmark This is the third incident involving drunken sailing in 2022 alone. The Germany-flagged ship was travelling to Bremerhaven, Germany from Fredericia...
West looks to diversify into H&M cover British P&I club looks set to follow lead of Gard, American Club and North
Box freight rate decline picks up pace again The Shanghai Containerised Freight Index is now down more than 90% from its peak. But spot rates are still more...
Means, ambition and incentives divide shipping's innovation evolution Lloyd's List webinar hears how the industry is still some way off the long-predicted innovation tipping point that will overcome...
MOL to work with Norwegian firm on floating desalination vessels An FDV would function as an offshore plant that could help bring water infrastructure online quickly and more affordably than...
Steamship kicks off renewal round with 7.5% rate hike Other clubs are set to reveal their 2023 pricing decisions in the weeks ahead. All this is taking place against...
The Lloyd's List Podcast: How to de-risk the future of shipping Shipping is not quite at the tipping point where innovation will accelerate across the industry, but the digital revolution is...
KSOE returns to profit in third quarter with $223m net gain KSOE has turned around from three quarters of losses since the fourth quarter of 2021. The steady stream of LNG...
Keppel and Sembcorp Marine streamline deal to join forces 'This simplifies implementation, provides greater deal certainty and accelerates the transaction, as there will no longer be a need to...
Daily Briefing Testing of world's first ammonia marine engine paused as Copenhagen centre upgrades safety | Russia-classed fleet to lose 9% of...
'Too early' to discuss 2023 rail contracts: Hub, Schneider Hub Group and Schneider National sidestepped questions about intermodal contracts for 2023, a far different approach than the two companies took a year ago when the pricing power was on their side.
NY-NJ port, terminals take next step in rail track project The Port of New York and New Jersey and two of its marine terminals are funding further planning on a track project that would mean fewer delays out of the port.
DOT awards $703 million for US port upgrades The US Department of Transportation will provide record funding for 41 port projects, including infrastructure upgrades and emissions improvements.
US trailer demand defies economic downturn Growing use of equipment pools and power-only trucking support long-term demand for 53-foot trailers that transcends short-term economic trends, manufacturer Wabash says.
Grimaldi Group orders up to 10 vessels to carry electric vehicles The new ships ordered by the Grimaldi Group, designed for carrying electric vehicles, will burn 50 percent less fuel than earlier car carriers.
Dry bulk shipping 'in need of large cargo injection' as spot rates end week with a tumble China offers little guidance on demand for capesize bulkers, Baltic Exchange analysts say
Key Genco Shipping shareholder takes stake below 5% for first time Centerbridge Partners has been an important private equity supporter of the owner and once owned 25% of shares
Suezmax rates jumped this week, but how long will the upturn continue? Rates are firming in West Africa, but ballasters plus ships dropping out of Russian trades threaten rates, Howe Robinson says
More than 200 ships set to drop from Russia trades once EU embargo kicks in Gibson Shipbrokers says even more will be necessary to fill the void as Russian oil will be going further and require transhipment
$3bn 'endorsement': China's Cosco takes leap into methanol fuelling with order for giant container ships After previously considering a mix of newbuildings that included 15,000 teu vessels, OOCL and Cosco Shipping Lines are going big with 12 megamax boxships
US Offshore Marine Service Association hits out at Vineyard Wind over Dutch tug Industry group accuses Massachusetts offshore wind project of exploiting a 'loophole' to employ lower-cost foreign workers
Editor's selection: Unknown buyers swoop on older VLCCs, Costamare creates bulker unit and big names line up LNG orders TradeWinds' news editor brings the highlights of the week
New Fortress Energy firms up plans for Gulf of Mexico floating LNG hub US-listed energy company lines up series of agreements that will give it feedgas for #multiple' LNG floaters with first unit to arrive in 2023
Silent Syrian ordered to pay $1m after terrorism claim ends charter deal Abdul Jalil Mallah has ignored a judge's demand for him to hand over details of his property portfolio
Capital Gas locks in charter on 2023-delivering LNG newbuilding in sizzling market Qatari Interests snap up one of Greek owner's open vessels while MOL firms up a charter on a vessel for 2026 handover
Russia needs $16bn to modernise tanker fleet, says senior banker Head of state-owned VTB Bank signals trading pivot to India and China amid scramble for new markets and allies
SITC logs 60% jump in revenues, but volume growth slows Expansion of fleet continues for intra-Asian specialist with delivery of two more feeder vessels
Exmar reveals it is 'net debt free' after wrapping up asset deals Shipowner is bullish on LPG carrier demand despite high orderbooks
Belships coverage 'solid' after ultramax trio fixed on term deals Norwegian owner charters out bulkers for up to 13 months
MOL to convert tankers into desalination ships to help solve water scarcity Japanese owner teaming with Norway's EnviroNor for global project
Charterer linked to Russian oligarch wins $2m appeal over sanctions dispute English court rules that Dutch bulker specialist MUR Shipping declared force majeure for financial reasons
Cosco makes VLGC debut as it snaps up secondhand ship Chinese shipping giant's subsidiary in Dalian bought Jiangnan-built VLGC Gas Aries
Odfjell says shipping could lose out in industrial scramble for clean energy Executive argues there are more efficient uses for renewable electricity
Siem Offshore has vessels free to hoover up emerging multi-year deals Norwegian owner positive on offshore construction vessel sector as third quarter profit jumps
FSL Trust names buyer as it reveals $5m profit from MR tanker sale Singapore owner down to eight ships after latest disposal
'Massive market': Norway's Stodig gears up to capitalise on domestic wind ambitions Columbia and Seatrans venture is watching closely as huge offshore energy plans come into focus
Ultra-stable wind farm transfer vessel aims to cut fuel use Foils and outrigger help minimise vessel motion and fuel burn to give a claimed up to 70% increase in stability and cut total emissions by 30%
Meeting offshore wind goals requires longer lucrative contracts, says P&O Maritime Martin Helweg says low investment has cut the supply of vessels for renewables projects
Japan's maritime cluster gathers around wind farm projects Diverse local partnerships vie for a slice of offshore renewable energy markets
There's still time to order WTIV newbuildings as potential vessel crunch looms Bottlenecks are possible as projects ramp up starting in 2025, but will shipowners invest in more tonnage?
Wind goes into battle with oil and gas for offshore vessels Decline in oil profits had cleared way for offshore wind industry to buy vessels - but new competition looms
US shipowners, other than Edison Chouest, await big term deals before ordering SOVs Although there are 40 GW of offshore wind vessel projects in the pipeline, they are not advanced enough to fuel orders for service operation vessels
Special report: Wind goes head-to-head with oil & gas in vessel market Business focus explores how renewables investment and immediate need for energy supply has brought on fierce competition for ships, how Japan's shipping sector is growing its renewables capabilities and how one ship manager has its sights on opportunities in Norway
Sembcorp Marine and Keppel aim to speed up offshore merger with deal rejig Simplified structure set to reduce time to completion by up to two months, say companies
Shipping rates are no longer plunging. Is 'new normal' near? Spot rate indexes look like they're stabilizing - at least temporarily - after double-digit plunges in August and September.
FreightWaves Classics: The 1976 crisis on the Mississippi River A massive eight-day backup of barge traffic at Locks and Dam 26 on the Mississippi River in 1976 resulted in shipping losses estimated as high as $500,000 a day.
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