VIDEO: Smokestack implosion marks milestone in preparing New Bedford Foss Marine Terminal Foss reports that demolition continues at the New Bedford Foss Marine Terminal site in preparation to support offshore wind projects off Massachusetts and the U.S Northeast seaboard. Demolition of the Power Station
Titan acquires two Seapeak gas carriers for conversion to bunkering vessels Amsterdam-headquartered low and zero emission fuel supplier Titan has acquired two 12,000 cu.m gas carriers from Seapeak. Both built in 2011, they are listed on the Seapeak fleet list as LPG carriers
WinGD and CMB.TECH team up to develop large ammonia-fueled two-stroke engine Winterthur, Switzerland, headquartered engine designer WinGD has signed an agreement on the development of ammonia-fueled two-stroke engines with CMB.TECH, the clean tech division of Compagnie Maritime Belge (CMB). The aim is to
TTB: Vessel operators, TPOs join forces on Subchapter M panel While waterways operators may be relaxing a little after the industry's successful completion of the four-year Certificate of Inspection phase-in of the Subchapter M towing vessel safety program, they now face further
ONE revenues and profits plunge in last quarter of 2022 Singaporean container line Ocean Network Express (ONE) saw a significant drop in its revenues, earnings and profits during the third quarter of its fiscal year 2022 (October - December), compared with the same period last year. In particular, ONE's revenue fell to US$6.25 billion, earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased to US$3 billion, earnings before i
US intermodal service provider adds load lift to Port Houston depot The Marino Group's Marine Repair Services - Container Maintenance Corporation (MRS-CMC), provider of intermodal services, has announced the addition of a third load lift to its newly launched depot at Port Houston in Texas aiming to enhance its container storage solution. This additional equipment will improve efficiency for its customers, which is especially important as the market prepares for
Happiness rising across the board, says Seafarers Happiness Index The Mission to Seafarers has issued its 2022 fourth quarter findings on seafarer happiness and annual review. The latest review reveals that average seafarer happiness levels in the last quarter of 2022 reached 7.69/10, up from 7.3 with levels rising across almost all categories. The survey was undertaken with the support of the Standard Club and Idwal. The Mission to Seafarers noted that the num
Maersk North America to use Verity drones for warehouse inventory management Maersk North America aims to utilise Verity's warehouse inventory management technology. In particular, a specialised application of inventory drones by Verity is expected to provide a safer option than operating from heights, while the electric-powered energy source ensures sustainability compliance. Warehouse inventory management is a critical component of supply chain flow, financial risk expo
Log-In Logística and Nautilus Labs collaborate to accelerate decarbonisation Nautilus Labs, a technology partner pioneering the decarbonisation of the ocean supply chain, and Log-In Logística Intermodal, based in Brazil, are collaborating to reduce fuel consumption and carbon emissions, optimise operations, and ensure effective digital adoption across Log-In Logística Intermodal. Nautilus' method was first used on two container ships in Log-In's liner fleet that had to me
MSC's updated service to connect West Med, West Africa and Türkiye MSC announced the enhancement of its West Mediterranean - West Africa service to link directly Türkiye with West Africa region. The service will be renamed Türkiye-West Med-WAF and will commence on 21 February 2023 with the 4,056 TEU container ship MSC Aniello from the port of Tekirdag in Türkiye. The port rotation of the updated service will be Tekirdag (Türkiye) - Derince (Türkiye) - Iskenderun
Prime mover driver dies after vehicle plunges into sea off Singapore port The driver of a prime mover was killed after his vehicle fell into waters off Singapore's Keppel Terminal this morning (31 January). The Maritime and Port Authority (MPA) of Singapore said in a press statement that at 2 am (local time) today, the Marine Safety Control Centre was alerted to the mishap. Keppel, along with Tanjong Pagar and Brani, are the remaining container terminals in Singapore's
MPC Container Ships sells one, buys two boxships The Norwegian vessel owner MPC Container Ships (MPCC) and its joint venture partner have agreed to sell the 2,800 TEU container ship AS Carinthia, built in 2003, ahead of the vessel's 20-year class renewal scheduled for the first quarter of 2023, for US$7.6 million. The vessel was purchased in 2017 for US$5.2 million and has since earned US$11.2 million in free cash flow from operations. Upon com
Maersk partners with German start-up to increase emission visibility for e-commerce A.P. Moller - Maersk and Berlin-based start-up Cozero have announced the start of their collaboration to create analytics tools to increase Green House Gas (GHG) emissions visibility for international package deliveries in Europe. Maersk has delivered millions of international goods for European online retailers since joining the European E-Commerce logistics business in 2021 with the acquisition
China ports achieve container growth in 2022; Shanghai, Ningbo and Shenzhed remain on the podium The overall container volume of major Chinese ports rose 4.7% in 2022, compared with 2021 box volume, reaching 295.9 million TEUs. Additionally, the overall cargo volume of the Chinese ports climbed to 15.685 billion tons in the previous year, translating to a year-on-year increase of 0.9%. The following chart shows the cargo throughput and container throughput data of the twelve major ports in C
Post-CNY container capacity remains high Carriers struggle to withdraw enough capacity from the market to prevent damage since demand and freight prices began to fall. Danish maritime data analysis company, Sea-Intelligence noted that it was expected that box carriers would utilise Chinese New Year (CNY) as an opportunity to cancel a large number of sailings in order to restore supplies. However, this only occurred within one to three w
ABL Group explores renewable power sources at Mombasa Port ABL Group has investigated two potential sites for the installation of a solar photovoltaic (PV) plant to generate renewable energy from onshore power, or 'cold ironing', in Kenya's major port of Mombasa. Kenyan Ports Authority commissioned the proposed introduction of the Green Ports Policy. The authority is envisaging that all vessels at the port of Mombasa are to turn off onboard generators an
Maersk unveils new Southeast Asia to Australia network Maersk has introduced its new Southeast Asia to Australia network, aiming to improve schedule reliability and boost supply chain resilience for the region. The Danish container carrier has decided to discontinue its existing Southeast Asia to Australia network, which, as the company noted, has been performing below its global standards on reliability. Maersk's brand-new network will consist of th
MSC adds Italian port call on India to West Med service MSC has announced the introduction of a new weekly direct call at the port of Leghorn in Italy on its India to West Mediterranean service. The Swiss/Italian container line said this new call is intended to replace the current acceptance of cargo for India, East Africa, Red Sea, Middle East and Far East on its La Spezia Shuttle service. The 7,950 TEU boxship MSC Agamemnon will be the first vessel
New panamax vessel catches fire in Panama Canal The Panama Canal reports that the 11,000 TEU container vessel Cape Kortia suffered a fire outbreak in its engine room on 30 January while moving toward the PSA port in the Pacific. The boxship remained briefly on its way to the Pacific Access Channel until it got removed by the Panama Canal staff. According to a Panama Canal announcement, these maneuvers occurred during its regular transit window
DP World set to grab India's Kandla box terminal concession with record royalty offer DP World is poised to win a new container terminal concession at India's Kandla Port, also known as Deendayal Port Authority (DPA). Hindustan Infralog Pvt. Ltd., DP World's local logistics arm, became the highest bidder for the project, to be awarded a 30-year operating concession. It will be developed at Tuna Tekra, about 25 kilometres from the Kandla harbour. The Dubai-based company bid approxi
Ningbo Zhoushan Port exceeds 33 million TEUs in 2022 Ningbo Zhoushan Port handled 33.35 million TEUs in 2022, a year-on-year increase of 7.3%, earning the third place in the ranking of the world's busiest container ports. At the same time, the Chinese port achieved an overall cargo throughput of over 1.25 billion tons, ranking first in the world for the 14th consecutive year. For the first time, the volume of container sea-rail intermodal transport
Hapag-Lloyd sees revenues skyrocket in 2022 Hapag-Lloyd concluded the previous year with its revenues rising to US$36.4 billion, driven by record-high freight rates globally which led to an average freight rate of US$2,863/TEU for the German ocean carrier. Hapag-Lloyd's average freight rate gained US$860/TEU compared with 2021, but the Hamburg-based company noted that "already by the end of the year, the freight rate had significantly come
Eurogate selects Liebherr to upgrade Wilhelmshaven box terminal equipment Eurogate Container Terminal Wilhelmshaven (CTW) has ordered two dual trolley ship-to-shore (STS) container cranes from Liebherr Container Cranes. The cabinless, automated cranes have a primary outreach of 73 metres, a lift height of 54.5 metres, a span of 30.48 metres and an operational back reach with a secondary trolley of 26 metres. The machines are supplied with Liebherr Remote Operator Stati
Port of Melbourne sees container drop In the Port of Melbourne, container volume was down year on year in December. The total container throughput of the Australian port decreased by 5.2% in the last month of 2022, compared with the same month in 2021, reaching 261,334 TEUs. Port of Melbourne noted that furniture, metal construction, domestic appliances, various food preparations, paperboard, toys & sporting goods, and electrical mac
Maersk to offer emissions tracker for international e-commerce Selected Maersk e-delivery customers in Europe will be able to register for a new tool in February to trace and analyse the emissions of their international parcels. The Danish liner giant, which entered the European e-commerce logistics market in 2021 with the acquisition of B2C Europe, tapped German startup Cozero to develop analytics tools to ...
Navig8 takes Roswell suezmax under commercial management UK-based Navig8 has added back a suezmax Roswell Tankers of Athens bought from Connecticut-based Ridgebury last year. The 2007-built 159,395 dwt will be joining the Suez8 pool in February as the fifth and oldest ship, in addition to four Ridgebury units. The Japanese-built Liberia-flagged vessel, formerly known as Ridgebury Nicholas A, joined the same pool ...
McDermott gets onboard Greece-Africa interconnector project US-based subsea and deepwater engineering and construction leader McDermott has signed a memorandum of understanding with Eunice Energy Group to work on the 2 GW electrical link between Greece and Egypt, known as the Greece-Africa Power (GAP) interconnector project. Eunice Energy Group is a transnational consortium between Greece and Egypt for the GAP project, which ...
Singapore's Global Centre for Maritime Decarbonisation names Olympic Shipping first Greek owner partner Onassis Foundation-controlled Olympic Shipping and Management (OSM) has become the first Greek ship owner and manager to partner with the Singapore-based Global Centre for Maritime Decarbonisation (GCMD), committing to a five-year collaboration to accelerate shipping's decarbonisation. As an impact partner, OSM with a fleet of 18 crude oil tankers, will provide a cash contribution towards ...
Kumiai Navigation adds to LPG/ammonia carrier orderbook Kumiai Navigation has added a second very large LPG/lliquefied ammonia gas carrier (VLGC) to its orderbook at Japanese shipbuilder Kawasaki Heavy Industries (KHI). The Singapore-based subsidiary of Japan's Kumiai Senpaku has exercised its option for one more LPG-fuelled 86,700 cu m unit following an initial order in June last year. As with the previous order, ...
Titan picks up pair of Seapeak's small-scale LNG carriers Dutch fuel supplier Titan has purchased two small-scale LNG carriers from Stonepeak's Canadian gas ship owner Seapeak for bunkering capability retrofits. The 2011-built 12,000 cu m and , VesselsValue estimates as worth around $61.5m in total, will be retrofitted for both transport and bunkering of LNG, liquefied biomethane (LBM), and in the longer-term hydrogen derived ...
Vroon charters out SOV to Hughes Subsea Dutch shipowner Vroon has chartered out its 2017-built SOV to UK-based Hughes Subsea Services. The one-year charter has already commenced and will see the subsea support and walk-2-work vessel initially undertake field operations in the North Sea, operating from Teesside port. Ian Hughes, managing director of Hughes Subsea, said: "Hughes Subsea is very pleased to ...
World's first biofuel bunker price index launches New fuel mixes entering the shipping arena require pricing visibility to gain traction. Argus, a commodity price reporting agency, has today launched the world's first independently assessed price for ship fuel that includes a biofuel component. The new B24 daily assessment reflects the market value of bunkers made up of 24% used cooking oil methyl ...
Vineyard Wind moves to build US CTV terminal Vineyard Wind, a joint venture between Avangrid Renewables, and Copenhagen Infrastructure Partners (CIP), teamed up with Shoreline Offshore, a joint venture between the Quinn family and SEA.O.G Offshore to build out a berthing and fueling area for crew transfer vessels (CTVs). Under the agreement, Vineyard Wind will provide $750,000 in funding through its industry accelerator ...
Bocimar to operate world's first ammonia-powered newcastlemaxes Swiss marine power company WinGD and Belgian shipping and cleantech group CMB.TECH have signed an agreement on the development of ammonia-fuelled two-stroke engines. The companies aim to install the ammonia dual-fuel X72DF engine on a series of ten 210,000 dwt newcastlemax bulk carriers to be built at Qingdao Beihai Shipbuilding in 2025 and 2026. The ...
SeaBird secures survey contract extension Oslo-listed seismic player SeaBird Exploration has received a letter of award for an extension to the 2D campaign in the Eastern Hemisphere. The initial contract announced last July was set to start in September in India and last for about nine months. Financial details were not disclosed, except that the rates reflected an improving 2D ...
Why sanctions make shipowners insomniacs In the first of a regular monthly column for Splash, Pierre Aury explains why sanctions do not work, and how easy it is for shipowners to fall foul of these constantly changing bans. There was a time when shipping was a free market: supply and demand and just a couple of rules. Over the years ...
Looming Russian products ban has analysts divided Sunday marks the start of the European Union's ban on Russian refined product imports, two months on from a similar crude ban. Experts are unsure whether the incoming measures will prove a significant bonus for product tanker owners. As with the crude ban, a price cap will come into play with the European Commission proposing ...
Eneos seeks to ship hydrogen in existing oil tankers Hydrogen could soon be shipped in regular oil tankers at ambient temperatures if a Japanese pilot project in Australia proves successful. Eneos, Japan's largest oil company, will open a demonstration plant in Brisbane next month where methylcyclohexane (MCH), a liquid hydrogen carrier, will be made. MCH is typically produced by taking hydrogen stored in tanks ...
One out, two in at MPC Container Ships MPC Container Ships (MPCC) has sold a 20-year-old ship and bought another two vessels. Together with its joint venture partner, MPCC has agreed to sell the 2,800 teu ahead of the vessel's 20-year class renewal for $7.6m. The vessel was acquired in 2017 for $5.2m and has since generated free cash flow from operations of ...
Norsepower gets state funds to expand The Finnish Climate Fund has decided on a capital loan of up to EUR10m ($10.85m) to rotor sail manufacturer Norsepower for increasing its production capacity. Norsepower claims its product can reduce a vessel's fuel consumption by 5-25%. "The future of shipping is emission free, and Norsepower's technology for cutting fuel costs and greenhouse gas emissions ...
Hapag-Lloyd investigates ammonia fuel possibilities Hapag-Lloyd and integrated energy company Mabanaft have signed a memorandum of understanding through which they will assess the viability of and options for the safe handling of clean ammonia as a bunker fuel in and around the Port of Hamburg. They will evaluate commercial, technical and regulatory requirements and engage with all relevant stakeholders as ...
Oceaneering and Kontiki Winds collaborate to electrify offshore assets with floating wind Oceaneering AS, the Norwegian subsidiary of Houston-based Oceaneering International, has signed a memorandum of understanding with Kontiki Winds (a Havfram company) to jointly pursue the application of floating offshore wind for remote microgrid renewable power generation to electrify offshore assets, such as oil and gas production, as well as other small-scale power-generation opportunities amon
Daily Briefing Flag state performance is improving, overall | Blankings insufficient to hold off rates stagnation | A good year for shipping...
Over two dozen flags get spotless scores in International Chamber of Shipping league table Togo stands out as the only register to make it on to the black lists of the three major port...
CMB.Tech and WinGD sign agreement for bulk carrier ammonia engine development Series of 210,000 dwt bulk carrier newbuildings ordered in 2021 and 2022, to an ammonia-ready specification, now look set to...
Year ahead predicted to offer ship finance opportunity With interest rates rising, most alternative lenders are now much more attractive than traditional banks, says Germany-based finance outfit Oceanis
Valencia box volumes decline as market cools Competition from other Mediterranean ports is taking its toll on Valencia's transhipment volumes. Exports were down and import growth was...
Wärtsilä increases sales but inflation drives loss of $64m Leading medium-speed engine designer expects the demand environment in its marine business for the next 12 months to be similar...
Blankings insufficient to hold off rates stagnation Industry discipline is needed to shore up freight rates as demand falls. But with more capacity coming into the market...
Olympic joins GCMD as first Greek partner Olympic will offer technical expertise, data and 'hard assets' in support of centre's trials, in addition to a financial contribution
Samsung Heavy struggles to return to black Company expects delivery of new orders signed since 2021 at higher prices to help improve earnings
Hapag-Lloyd reports earnings of $20bn as market slows Box lines are beginning to report 2022 earnings that will reflect a strong year for earnings. But with the market...
NYK partners with technology company Ghelia to adopt AI in shipping Both companies will collaborate on research and development for autonomous ships and avoidance navigation
Daily Briefing Greek-owned ships load last oil from Russia over January | Deglobalisation policy puts economic growth at risk | Trade lane...
MOL's third-quarter net profits down 43% on weak containership rates Lower profits in the quarter ending December 31, 2022 was due to a sharp drop in spot freight rates in...
ONE says freight market recovery will take time It takes time for cargo volume and shipping rates to recover after the slack season around the Chinese New Year...
Analysts bullish on Cosco unit as tanker market expected to motor on Equity analysts argue the tanker upcycle has just begun and that freight rates will strengthen after the traditional spring slack...
UPS to sharpen focus on 'smart' technology in 'bumpy' 2023 Technology that connects and automates packages, trucks, and sorting facilities will come to the fore at UPS this year as the largest US logistics provider positions itself for an economic rebound.
Norfolk Southern adds to Southeast intermodal capacity with new cranes Norfolk Southern's plan to bring more capacity to its international intermodal business this year has kicked off with new cranes enabling the stacking of marine containers at its Austell ramp in Georgia.
FMC drops bid to use OSRA-22 for emergency data sharing A Federal Maritime Commission member's attempt to force marine terminals and ocean carriers to share more data under OSRA-22 has ended with the normalization of the ocean freight market.
Asia-Europe spot rates soften to pre-pandemic levels Carriers have entered 2023 with too much supply and not enough demand on the Asia-Europe trade, with rates continuing their downward spiral through January.
Savannah aims for more cold-chain cargo with new reefer racks The Port of Savannah says plans for additional reefer rack capacity will add to its market share for cold chain imports coming into the US Southeast and Gulf Coast.
ONE cuts profit forecast on persistent market weakness The first 2022 financial results from ocean container carriers are filtering in, revealing the impact of collapsing rates and demand on profitability levels.
Evercore lays out expectations for Kirby profit growth in 2024 Houston barge operator's inland fleet is expected to earn stronger rates this year
BlackRock buys more shares in two of shipping's ESG darlings Eagle Bulk Shipping and International Seaways feel the love from socially conscious US fund
Bulkers poised to benefit as Brazil gears up for record soybean crop 'This is obviously a very good thing' for dry bulk shipping, a shipowner says
Greenpeace activists board heavylift ship carrying Shell FPSO Environmental group demands oil major 'start paying' instead of drilling for more oil and gas
Booming tanker asset prices 'can go higher in 2023' D'Amico International Shipping says prices for secondhand and newbuilding tankers still remains below prices from 2009
Liner operators are flush with cash. Here's why that might not be a good thing Jefferies lays out details of how the latest cyclical crash in container ship rates is different from past episodes
American Club defends smaller P&I mutuals as consolidation takes off Athens P&I conference hears mergers between mutuals are now 'more likely but not inevitable'
Kirby's fleet sees big rate increases as bottom line jumps Inland barge spot rates rally, overcoming low water levels on the Mississippi
Hydrogen supply group set up by Northern Xplorer zero emission cruise project Consortium will also supply hydrogen hydrogen to wider maritime markets
The American Club defends smaller P&I mutuals as consolidation takes off Athens P&I conference hears mergers between mutuals are now 'more likely but not inevitable'
Video purportedly shows missile attacks on stranded ships in Ukraine Footage apparently shows at least three Russian soldiers firing missiles
Al Seer Marine hails 'astounding' profit after shipping breakthrough Abu Dhabi-listed group has been busy building up a fleet in the tanker, gas and bulk arenas
Navios sells older bulk carriers in an 'all bets are on' market With uncertainty in the prevailing characteristics of a fragile market, Angeliki Frangou doggedly pursues fleet renewal
Being a private shipowner means no one sees me coming, says Zenith's Sophocles Zoullas Zenith Shipping boss also explains the best parts of operating via a public company after a 30-year shipping career
Bullish Fearnleys' analysts tip lucrative multi-sector upcycle The natural cycle of shipping investment starts in Oslo, believes Fearnley Securities boss Peter Wessel
Klaveness says it's time for shipping to give something back after Red Cross donation Norwegian group believes owners profiting from war disruption should help its victims
Ocean Network Express slashes forecast after profits plunge Falling freight markets shave billions from Japanese liner operators bottom line
Eneos plans to ship hydrogen carrier MCH on tankers from Australia Oil and shipping company has opened demonstration plant in Brisbane to produce green fuel
Seafarers found hashish shipment on container ship in Greenland Details emerge of smuggling attempt on Royal Arctic Container (RAL) vessel
Corrupt brother jailed over oil services contract bribes Saman Ahsani was at the heart of a sprawling corruption network that continued for years
New Fortress moves on Alpha Gas newbuilding Another 2024-delivering newbuilding disappears from the menu
Wartsila slumps to loss in 'challenging' year despite strong orders Volatile energy markets and Russia's war on Ukraine hit business but sentiment improved in marine sector during 2022
Onassis firm joins Singapore's GCMD as first Greek member Traditional owner Olympic Shipping adds clout to increasingly international decarbonisation research outfit
Braemar warns product boom could turn into 'damp squib' Shipbroker warns that predicted increase in rates and revenues may turn out to be a mirage
Saverys' CMB.Tech and WinGD to develop first ammonia engines for newcastlemax fleet Belgian owner working with engine producer for installations on newbuildings
Swedish Club gets a boost from AM Best rating Rating agency describes Gothenburg-based insurer's balance sheet as 'very strong'
Hapag-Lloyd closes the financial year with a profit of more than $20bn But falling freight rates mean profits are already sliding
Fredly and Blystad follow Sundt family in selling off Hunter stock Big-name investors offload shares in Oslo-listed company currently without ships but plotting its next move
MPCC confirms sale of veteran vessel as it adds two younger ships German owner updates fleet in deals with US and Norwegian owners
Jaldhi Overseas expands fleet with product tanker order The company has splashed out $162m in ordering four MR tankers at Yangzi-Mitsui
MISC kicks off ExxonMobil charters with delivery of 'smart' LNG carriers Pair were ordered against 15-year time charters to US energy giant's wholly-owned shipping subsidiary
MOL posts weakest quarter of the year due to softer boxship freight rates Improvements in other sectors insufficient to counter declining container freight rates and improving tonnage supply
Keppel Corps tops share buybacks on Singapore Exchange in 2022 Maritime companies are among the most active in snapping up their own shares during a volatile year
Ocean Network Express' quarterly profit plunges ONE's profit dropped by 50% quarter over quarter to $2.76 billion.
Hapag-Lloyd reports 'extraordinarily strong result' German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.
End of production era, but 747 freighters will fly for decades It's the end of an era for the "Queen of the Skies." Boeing will make its final 747 delivery on Tuesday, but cargo airlines could fly them for another 40 years.
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