Vigor completes USS Chosin modernization Vigor has successfully completed a three-year modernization project on USS Chosin (CG 65) at its Harbor Island, Seattle, shipyard, sending the Ticonderoga-class guided-missile cruiser back to its homeport of Naval Station Everett.
VIDEO: Methanex and MOL complete bio-methanol fueled net-zero transatlantic voyage Vancouver, B.C., based Methanex Corporation and Mitsui O.S.K. Lines, Ltd. (MOL) report that the dual-fuel vessel Cajun Sun has successfully completed the first-ever net-zero voyage fueled by bio-methanol. The Cajun Sun, operated
Australia slaps 90-day port entry ban on MSC box ship In its most recent port entry ban, the Australian Maritime Safety Authority (AMSA) yesterday issued a refusal of access direction notice banning the Liberian-flagged containership MSC Kymea II from Australian ports for
Tidewater CEO: Offshore services recovery is here "As we look forward into 2023, we are confident that not only is the recovery here, but that the demand for offshore vessels will continue to strengthen throughout this year," said Quintin
HyZet tug design team hosts TTB panel next week Wrapping up Day 1 of Tugs, Towboats & Barges (TTB) 2023 on March 7 is a panel discussion with the members of the HyZet tug design team. Panelists include experts from Crowley
CMA CGM announces updated rates from Indian Subcontinent, Middle East Gulf, Red Sea and Egypt to USEC and US Gulf French ocean carrier CMA CGM has announced updated freight rates from India, Pakistan, Sri Lanka, Middle East Gulf, the Red Sea and Egypt to the United States East Coast and the United States Gulf. According to the "rate restoration initiative", as CMA CGM has described it, from 24 March 2023, there will be the following update for all types of cargo: Quantum per 20': US$500 Quantum per 40': US$6
Maersk Supply Service extends long-term contract in Taiwan with Seaway7 The cable lay vessel (CLV) Maersk Connector has been engaged to continue operations on behalf of Seaway7 until 31 December 2025. This comes after a successful first year of working on Seaway7 projects in Taiwan and the United Kingdom. According to Maersk Supply Service, in October 2021, the vessel began cable-laying supply for Seaway7, starting operating in the North Sea at the Seagreen Offshore
Argentinean taxation on waterways increases demand by port of Paranaguá The Argentinean waterway toll for ships on the Paraguay-Paraná Waterway between Confluencia Santa Fe and Paso Queso became effective in January 2023. The Argentine Ministry of Transportation authorised the US$1.47 charge per ton carried on the 1,180-km length of the canal in Resolution No. 1023/2022. The charge is intended to be used for dredging and signalling projects. According to the statemen
DACHSER strengthens its logistics centre in Bremen DACHSER has spent over US$8.5 million to expand the handling area of its logistics centre in Bremen, Germany to prepare the facility for potential growth in the future. The floor space is now around 3,300 m² and the extension building for the European Logistics business line now offers more space for handling industrial and consumer goods, according to the company. The additional floor space on Se
Thailand plans multi-billion-dollar infrastructure investment to boost economy Thailand is to invest around US$15 billion in transport infrastructure, including upgrades to its key container port, Laem Chabang, in order to boost economic growth. The Prime Minister's office said, "The Thai government is currently promoting several large-scale water transport projects, including an industrial port development project in the Eastern Economic Corridor (EEC) district." It is hop
ONE adds new service connecting UAE with Bahrain and Kuwait Ocean Network Express (ONE) announced the launch of a new service, connecting the United Arab Emirates (UAE) with Bahrain and Kuwait. With this new Upper Gulf Service (UGS), ONE aims to provide a faster, more efficient, and more stable connection from the transshipment hub of Jebel Ali in UAE to the two aforementioned countries. The port rotation of the new service will be as follows: Loop-A: Jeb
Asian liner SeaLead opens more India-centric connections amid growth expectations Niche Asian carrier SeaLead Shipping is consolidating its Indian network, driven by sustained trade growth expectations. The Singapore-based liner is set to commence an independent direct container service between Australia and India. The routing, known as ASIA, will have stops at Melbourne, Sydney, Brisbane, Port Kelang (West Port), Karachi, Mundra, Nhava Sheva, and Port Kelang (West Port). The
Seastock24 review: The Importance of Security in Trading Platforms As a way to invest in the stock market and other financial needs, internet trading has grown more prevalent in today's hyper-digital environment. The simplicity of use and accessibility offered by internet trading has enticed many traders, both novices and seasoned professionals. The online trading platform Seastock24 is a market leader and provides customers access to a comprehensive selection o
FCFmarkets.com review: FCFmarkets Trading Platforms and How It Work Regarding online trading platforms, FCFmarkets is at the top of the heap, giving investors access to the global financial markets. Whether you're a seasoned pro or just getting your feet wet, FCFmarkets has the trading tools and features you need to thrive in today's fast-paced online trading environment. This piece will explain what FCFmarkets is and how it works. Internet-Based Exchanges - FCFm
Economypair.com review: 5 Tips For Choosing a Trading Platform in 2023 Users of a trustworthy trading platform, such as EconomyPair , should have access to timely and friendly assistance by email, phone, or live chat. When searching for a platform to use for trading online, it is a good idea to seek one that offers educational resources, such as tutorials and webinars, to assist you in gaining a better understanding of the trading process. Investing and building mon
WEC Lines upgrades Liverpool services Dutch shipping firm WEC Lines has expanded its existing service into the Port of Liverpool with a new series of weekly calls into the port from Northern Spain, Portugal, North Africa and the Canary Islands. The weekly services are in addition to the existing Portuguese and Spanish routes operating at the British port since 2019. The new direct weekly services began this month from Bilbao, Vigo, a
Health and safety in the workplace as the world warms up In the height of summer, unforeseen issues can crop up in the workplace. From feeling hot and bothered in the office to more severe issues like dehydration or heat exhaustion, it's important to make sure that your employees have all the facilities they need to work comfortably during the summer. It's just as important for workers to take the initiative to look after themselves too. Here are a few
Safety considerations when working on remote construction sites Remote work is something the world has grown more accustomed to in the wake of the pandemic but for construction workers, remote construction sites (sometimes in the middle of nowhere) have always been a part of the job. On these sites, where workers might not be familiar with their surroundings, safety is vital. The construction sector is one of the most dangerous in the world so all considerati
Maersk relaunches Oceania service Maersk announced the restart of its Polaris service to assist to minimise customer impact from the current operational disruption in New Zealand. Starting with the 1,762 TEU boxship Trieste Trader, which is expected to call Port Nelson in New Zealand on 19 March, the dedicated service between Australia and New Zealand will be reintroduced aiming to improve cargo connections within Oceania. The po
Australia bans fifth MSC vessel in 2023 The Australian Maritime Safety Authority (AMSA) issued a refusal of access direction notice the Liberian-flagged container ship MSC Kymea II from Australian ports for 90 days. In particular, AMSA issued the notice following months of sub-standard performance from the ship's operator, MSC Shipmanagement Ltd, including critical maintenance issues. Moreover, AMSA has detained nine MSC ships over the
APM Terminals Algeciras sets new productivity record APM Terminals Algeciras completed operations on the vessel Mayview Maersk with a Productive Moves Per Hour (PMPH) of 201.63, breaking the terminal's previous record of 200 PMPH. This record was achieved by eight operating ship-to-shore (STS) cranes and during a port stay of 14.51 hours, compared to the target of 18.52. "We are extremely proud to be joining the «200 PMPH club» and by doing so, wri
Mawani and Jeddah Chamber sign US$270 million deal for new logistics park The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry signed an agreement to set up an integrated logistics park at Al Khumrah in the south of Jeddah, Saudi Arabia. The park is expected to create over 10,000 direct and indirect job opportunities in the logistics sector while strengthening Jeddah Islamic Port's pivotal position as a major maritime hub delivering top-tier s
CMA CGM revises West Africa network CMA CGM announced a reshuffle of its West Africa services, according to which EURAF 3 service will be discontinued, WAZZAN will deploy a full fleet of 1,700 TEU nominal capacity, and a dedicated Central Range Feeder will serve Monrovia (Liberia), San Pedro (Ivory Coast), and Takoradi (Ghana) through Abidjan (Ivory Coast) on a weekly basis. Meanwhile, the new weekly North Range Feeder will offer B
Golar LNG sells out of CoolCo Tor Olav Trøim's Golar LNG has sold just under 4.5m shares in spin-off Cool Company (CoolCo) for around $56m and now has only one share left in the LNG shipowner. Golar LNG started its exit from CoolCo last year by selling 8m shares in November, raising net proceeds of $98m. In a filing to the ...
Maersk Supply Service seals cable layer contract extension with Seaway 7 Danish offshore contractor and shipowner Maersk Supply Service has secured a long-term charter extension with Subsea 7's Oslo-listed offshore wind specialist Seaway 7 for the cable laying vessel . The 2016-built vessel has been engaged to continue operations on behalf of Seaway 7 until the end of December 2025, following successful campaigns in Taiwan and ...
AET teams with Petronas trading arm for green ammonia-fuelled aframax tanker AET, the tanker arm of Malaysia's top shipping line MISC, has hooked up with Petronas' Petco Trading Labuan Company Ltd (PTLCL) to explore the potential deployment of a zero-emission aframax tanker that will be capable of running on green ammonia. The two companies have signed a memorandum of understanding, which is said to represent another ...
Boskalis clinches Moray West contract Dutch marine services provider Boskalis has secured an up to €150m ($159m) contract for Scotland's 882 MW Moray West offshore wind farm. The deal covers "a large number of the activities" in the coming 12 months. The company has already carried out an offshore geophysical site survey that also included a survey for the identification ...
Imabari debuts low-carbon steel plate Shipbuilding is entering a new green phase with Japan's top yard debuting a low-carbon steel plate it will use in the construction of a 180,000 dwt capesize. Imabari Shipbuilding announced yesterday that Kobe Steel has started selling a low-carbon steel which it will use for a cape due for delivery next year to an unspecified ...
Yinson Production lands $5.3bn FPSO deal in Angola Singapore-based Yinson Production, part of the Malaysian Yinson Group, has sealed a $5.3bn contract with Azule Energy for the provision, operation and maintenance of a floating, production, storage and offloading asset for the Agogo Integrated West Hub development offshore Angola. The contract with the BP and Eni joint venture has a firm period of 15 ...
Hapag-Lloyd taps Shell for LNG supplies Shell and German carrier Hapag-Lloyd have signed a multi-year agreement for the supply of liquefied natural gas (LNG) to a series of 23,500 teu container vessels under construction. Bunkering for these 12 new vessels is expected to commence during the second half of 2023 and LNG will be supplied in the Port of Rotterdam. The ...
New capacity enters 'thriving' Russian container sector While much has been written about how oil, gas, coal and grain trades have changed in the year since Russia invaded Ukraine, there has been little spotlight on the container sector. Within weeks of the first shots being fired in eastern Europe most global liners announced they were pulling out of the Russian market, with ...
Five MSC ships detained in Australia in first two months of 2023 The Australian Maritime Safety Authority (AMSA) has issued a refusal of access direction notice the Liberian-flagged 1,732 teu containership from Australian ports for 90 days. AMSA issued the notice following months of "sub-standard performance" from the ship's operator, MSC Shipmanagement (MSC), including critical maintenance issues. AMSA has detained nine MSC ships over the past two ...
Net-zero voyage across the Atlantic completed using bio-methanol Methanex Corporation and Mitsui OSK Lines (MOL) have completed the first-ever net-zero voyage fuelled by bio-methanol. The Cajun Sun, operated by Methanex's subsidiary Waterfront Shipping and chartered from MOL, departed from Geismar in the US on January 17 and arrived in Antwerp, Belgium on February 4. By blending ISCC-certified bio-methanol that has negative carbon intensity ...
Belships moves for Japanese ultramax resales Oslo-listed Belships has pounced for three ultramax resales lined up at Japanese yards, which will take its fleet to 34 ships. The 64,000 dwt trio are scheduled for delivery in Q4 2024, Q4 2025 and Q1 2026. The vessels are fully financed through time charter lease agreements, each for a period of seven up to ...
Hornbeck Offshore to acquire six OSVs from Edison Chouest Louisiana-based Hornbeck Offshore Services has entered into a definitive vessel purchase agreement with Nautical Solutions, an affiliate of Edison Chouest Offshore, to acquire six high-spec new-generation offshore supply vessels for an undisclosed amount of cash. Each of the vessels will be US-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of approximately 4,750 DWT. Based ...
Industrial improvement in China amid global recession Jeffrey Landsberg from Commodore Research has good news from China for dry bulk owners. As we have been stressing in our weekly dry bulk reports, China has finally seen its steel output and thermal coal burn revert back to experiencing year-on-year growth. Previously, steel output and thermal coal burn had each not experienced year-on-year growth ...
CMA CGM seeks to repair customer relationships Container lines bore the brunt of complaints during the pandemic. While much of that was unjustified, they now need to...
Hapag-Lloyd agrees LNG supply deal with Shell for 12 new vessels Multi-year agreement signed with Shell Western LNG for supply of liquefied natural gas to Hapag-Lloyd's new series of 23,500 teu...
Frontline chief says Euronav deal 'firmly off the table' - for now 'There could be a scenario in the future when discussions come up again,' says chief executive Lars Barstad, but for...
VLCC market softens as China's demand for US crude stays flat Static demand has driven down time charter equivalent rates on the US Gulf to China trades to $45,000 per day...
Cyprus president names new shipping deputy minister Ms Hadjimanolis will be one of six women in new cabinet sworn in on March 1
Hafnia expects a very strong product tanker market Company says the addition of 36 secondhand tankers during the past year helped it to take full advantage of the...
Yangzijiang Shipbuilding outlook seen as 'positive', backed up by order wins The Singapore-listed Chinese shipbuilder is considered by observers to be able to achieve a $3bn order-winning target set for this...
Russian diesel trading $25 below price cap European buyers will have to pay a wide premium for non-Russian diesel on the back of longer voyages and changing...
Frontline's best quarter since 2008 hints at 'things to come' Fourth quarter 'may have given us a preview of the years to come in the tanker market', says chief executive...
Boxship charter rates flatline A South Korean liner operator has concluded the first charter deal for a post-panamax boxship in four months
Regulatory delay is holding back vital seafarer training New training courses are expensive to develop and take many years to introduce, a factor to be considered given the...
Global trade impacted by slowing growth, but 'deep' downturn not likely Global trade is being helped by decongestion of supply chains but impaired by slowing growth, according to Dr Nariman Behravesh
Lines urged to do more to remove capacity Capacity is far outstripping demand and is set to become worse. Carriers need to take more effective steps to reduce...
MSC chief targets redelivery of up to 60 chartered ships While capacity will increase by about 7%-10% in the next few years, CII will absorb about the same amount, says...
Daily Briefing Insurance details on sanctioned Russian tankers remain unclear | Euronav campaign urges shareholders to vote against CMB | Bangladeshi ship...
Australia bans poorly maintained MSC boxship for 90 days Out of the nine MSC ships detained by AMSA over the past two years, five were seized in 2023, with...
MOL completes first net zero voyage fuelled by bio-methanol Methanex, Waterfront Shipping and MOL, together with other key partners, jointly built the world's first ocean-going methanol dual-fuel tanker Taranaki...
Sembcorp Marine narrows net loss by 78% Renewable wind energy and other cleaner and greener solutions account for 37% of the group's net orderbook
Great power rivalries threaten to slow globalisation After a long period of 'benign globalisation', the world is trending towards 'slowbalisation'. A total decoupling from China is impossible...
TPM23: Post-COVID China sourcing shift 'definitely on': CMA CGM While the supply chain has mostly healed from COVID-19, the pandemic revealed the risk of relying too much on China for product sourcing, CMA CGM's new US president told TPM23.
TPM23: Sustainability should be collective, not competitive: ONE's Nixon The container shipping industry needs to collaborate in finding alternatives to fossil fuels rather than each player following their own path, ONE CEO Jeremy Nixon told TPM23.
TPM23: Flexport's new CEO puts focus on building 'next-generation' tech Flexport, the polarizing digital forwarder, will double down on technology development during a lull in global trade, new CEO Dave Clark said at TPM23.
SC Ports turns to TRAC, Flexi-Van to help launch chassis pool The South Carolina Ports Authority will be able to launch its proprietary chassis pool as scheduled in March thanks to a last-minute agreement to secure 5,000 chassis from two major equipment providers.
TPM23: MSC putting ocean shipping first after ending 2M Alliance: Toft MSC's chief executive told TPM23 that the company's hefty orderbook signals to customers that the carrier remains chiefly committed to ocean shipping, rather than selling an integrated supply chain service.
How will Tidewater spend $900m? 'I'm not interested in adding vessels' Consolidation may not be on the table, but dividends and buybacks likely are off the table as offshore vessel owner decides what to do with its
Dry futures market comes back from the abyss for 'monster' rally But the spot market still needs to catch up and there has been little news to bolster sentiment, market watchers say
Tidewater expects revenue to skyrocket in 2023 as fundamentals improve Offshore vessel giant expects to bring in $900m come year's end
New Fortress Energy targeting first FLNG production in July Company hints at move into modular power units
Norwegian Cruise Line expects full occupancy in 2023 while losses continue New York-listed cruise ship owner plans to offer trips on three new ships this year
Offshore acquisition financing costs drag American Shipping Co profits Oslo-listed company's bottom line falls slightly after taking on offshore construction vessel
Never say never: Frontline's Barstad not ruling out Euronav deal in future But CEO says combination is firmly off the table for now amid arbitration
Golar LNG bags 2025-delivery yard slot for next-up FLNG conversion job Market rife with speculation as to which secondhand Moss LNG carrier company is buying
Colleagues 'shattered' as well-loved broker and family man Chris Vasilas dies at 63 Representing European Product Carriers in the US for more than three decades, shipping professional is remembered as a friend to colleagues and for business acumen
New VLCCs a nuisance for clean tankers but small orderbook limits impact, BRS says Big tankers lifting product cargoes is now back in vogue, according to broker
Spend your billions wisely - AlixPartners warns liner sector Operators are sitting on $42bn in cash and enjoy a wide range of strategic options
Hapag-Lloyd signs up with Shell to fuel giant newbuilds with LNG Energy major will supply 23,500-teu container ships in Rotterdam
International Seaways reports best-ever earnings as rates climb Tanker owner says China and Russia impacts set to continue earnings momentum
Probe begins as two seafarers found dead on Greek bulker Discovery was made on kamsarmax Caravos Harmony off Brazil
Excelerate Energy buys first LNG volumes in deal with US producer Regasification specialist unveils sales and purchase agreement with fast-growing Venture Global LNG
Golar LNG raises $572m by cashing in CoolCo and New Fortress stocks Company poised to pay $78m to buy Moss-type LNG carrier for conversion into FLNG unit
Golar raises $572m by cashing in CoolCo and New Fortress stocks Company poised to pay $78m to buy Moss-type LNG carrier for conversion into FLNG unit
Japan's NS United and Iino Lines appoint new presidents Changing of the guard at Japanese giants
Regional Container Lines boosts bottom line with five vessel sales Thai operators warns of higher costs as rates return to pre-Covid levels
'Massive' uptick in VLCC trade from US to China in March, say Kpler Fixtures indicate opportunistic trades by China buyers as world's largest importer emerges from Covid shadow
Euronav's De Stoop says Saverys family may regret its decision to take CMB private Tanker executive says major shareholder's diversification strategy is not suitable for a listed company
CoolCo eyes 10-year-plus deals on its LNG newbuilding options Company talks charter opportunities for next open tri-fuel diesel-electric LNG carriers
Continental disputes claims made by Euroseas over cancelled charter Singapore liner company says it was compelled to cancel after container ship went into dry dock and never came out
Frontline says asset values stronger than earnings as it confirms tanker sales Oslo-listed shipowner using disposal cash to pay off debt
Petrovietnam gives its only VLGC the heave-ho onto ship recyclers The Viet Gas 68 along with a bulker and three old reefers were the only vessels reported sold for scrap over the past week
VLCC shock: rates heading for boom-and-bust cycle - and it's bust first Boom could be some way off as tonnage imbalance threatens recovery, BRS says
BW LPG sells veteran as it adds nine ships to pool in deals with Exmar and Vitol Singapore owner also declares purchase options for two more modern leased vessels
Atlas cashes in on yet another pair of aframax newbuildings Greek company is believed to be repeating juicy asset play, in a second deal with Libya's GNMTC
Bimco: Tanker market set for 15-year high with China rebound Environmental changes, Russia-related trade reshuffle and the return of China are seen as factors in the revival
Continental disputes claims made by Euroseas over cancelled container ship charter Singapore-based liner company says it was compelled to cancel after vessel went into drydock and never came out
Australia bans 'substandard' MSC container ship for 90 days Inspectors identified critical maintenance issues
Singapore's High Court to auction disabled Chinese livestock carrier Both of Soar Harmony Shipping's cattle transporters are now in the process of judicial sales
Belships back in Japan for more ultramax bulker tonnage Norwegian shipowner says it has been able to increase its fleet without investing any cash
MPC Container Ships waves goodbye to record returns Oslo-listed company expects earnings to dip this year by nearly 20%
Fleet acquisitions paying off for tanker giant Hafnia in record year Vessels added from Chemical Tankers Inc and Scorpio Tankers boosted earnings by more than $190m in 2022
CoolCo expects to bag long-term charters for two planned LNG newbuilding buys CEO says the recent sale of a 10-year-old ship from the company's fleet highlights repricing of the LNG carrier market
Avance Gas 'optimistic' as VLGCs enjoy best markets for seven years Potential oversupply of ships due to newbuildings may only be temporary, Norwegian owner believes
New Cyprus president entrusts shipping to close aide Glykis-Hadjimanolis Limassol lawyer will have a delicate task in steering Cyprus shipping in rough international waters
Imabari Shipbuilding to use low-carbon steel to build capesize bulker Steel will be supplied by Kobelco in first for shipping
Frontline says assets values stronger than earnings as it confirms tanker sales Oslo-listed owner using disposal cash to pay off debt
'A taste of things to come': Frontline posts strongest profit since 2008 Boss Lars Barstad bullish as aframax/LR ships climb further from all-time highs and suezmax rates soar
European LNG rise will not cover Russian pipeline gas cuts in 2023 Data analyst Kpler says 2023 could prove to be a 'year of two halves' as competition hots up for Asia cargoes
Samudera Shipping to pay out bumper dividend as profit soars Indonesian shipowner makes the most of demand for shipping services outpacing supply, but warns of softer markets ahead
Petrovietnam gives its only VLGC the heave-ho onto recyclers Viet Gas 68, along with a bulker and three old reefers were the only ships reported sold for scrap over the past week
Belships back in Japan for more ultramax tonnage Norwegian shipowner says it has been able to increase its fleet without investing any cash
Inside Chellaram Shipping's 45th anniversary party in Singapore Bulk carrier owner tells TradeWinds decarbonisation is its main priority as it actively examines all options under development
Ridgebury tied to tanker sale at nearly double the price paid in 2020 Chief executive says tanker 'not sold' despite reports and secondhand suezmaxes continue to fly off the shelves
Exporters raise concerns about ocean carrier market power Despite lower demand for transportation, repealing the ocean carriers' antitrust immunity is still in play on Capitol Hill.
Cargo airline Amerijet pulls plug on freight forwarding unit Freighter operator Amerijet is rationalizing its business by terminating a south Florida air and ocean logistics business it owns.
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