Norwegian will lengthen Prima newbuilds, ready them for methanol Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) yesterday today reported financial results for the fourth quarter and full year ended December 31, 2022 and provided guidance for the first quarter and full
Farra Marine orders seven Incat Crowther designed CTVs Dublin, Ireland, headquartered crew transfer vessel (CTV) owner and operator Farra Marine has placed an order with Singapore-based Penguin Shipyard International that will see it double its fleet to a total of
Marine Highway Program gets a new name but less money The U.S. Department of Transportation's Maritime Administration (MARAD) today announced a Notice of Funding Opportunity making $12,423,000 available in Fiscal Year 2023 funds through what is now called the United States Marine
Spanish shipping sector on decarbonisation path Representatives of the Spanish maritime and river transport sector met at the Clock Building of the Port of Valencia with the Board of directors of the Waterborne Technology Platform. This meeting was organised by the Valenciaport Foundation in collaboration with the Port Authority of Valencia (PAV), aiming to discuss the next steps in the transition to a zero-emission sector. In particular, the
PIL launches intermodal services in South Korea Pacific International Lines (PIL) has announced the launch of intermodal services in South Korea, with rail and truck services being available for cargo transportation from Busan inland into South Korea. The inland connection to Pugok is via rail service while for Gunsan, Gwanju, Hwaseong, Incheon, Kwangyang, Pohang, Seoul and Yongin, the linkage is via truck service, according to PIL's announcem
More methanol and LNG-fuelled boxships on order The orderbook of container ships powered by alternative fuels has reached 40% of under-construction tonnage, as the past six months have seen carriers turn their focus from conventional fuel oil. Alphaliner's latest report stated that there are now 198 orders for LNG dual-fuelled boxships, amounting to 2.31 million TEU, or 30% of the orderbook, compared with 25% a year ago. Noticeably, methanol-f
cargo-partner introduces new LCL services from Asia to Europe Global transport and logistics provider, cargo-partner, has extended its range of LCL (Less than Container-Load) services and launched new weekly sea freight consolidation services from China and India to Rotterdam, serving several locations in Western Europe. Northern European ports and warehouses are still experiencing severe congestion and service problems. To address these issues, cargo-partn
MSC enhances its presence in Central Africa MSC said the arrival of the 15,000 TEU, 366-metre container ship MSC Virgo at the Port of Pointe-Noire in Congo-Brazzaville on 27 February has marked the enhanced position of the company in Central Africa. "The arrival of this container ship is part of MSC's expansion plans to extend its network in sub-Saharan Africa by redesigning its service to the West African coast," said the company in a sta
"The global nature of trade will prevail," MSC CEO Toft tells TPM23 MSC CEO Soren Toft gave an overview of the company's ongoing development, economic recovery expectations, and attempts to achieve sustainable shipping, speaking at this year's Transpacific Maritime Conference, known as TPM23. "The world has seen through the supply chain crunch just how important the logistics and shipping industry really is - we keep global trade moving," he said in an interview
CMA CGM adds new call on NOURA service CMA CGM announced a new call on its NOURA service and Comoros will now be served via Mtwara in Tanzania. Starting with the 1,740 TEU boxship CMA CGM Fuzhou, which is estimated to arrive at Jebel Ali on 5 April and on Mtwara on 19 April, NOURA service will include Mtwara to its port rotation, as follows: Colombo (Sri Lanka) - Jebel Ali (Dubai)- Berbera (Somaliland-1/2) - Mogadishu (Somalia)- Mtwar
Atlas acquisition from business consortium to be completed in March Poseidon Acquisition, a business consortium comprising Ocean Network Express (ONE) and major shareholders Fairfax Financial Holdings, the Washington family, and Atlas Chairman David Sokol, is expected to complete the acquisition of Atlas in March. This comes after the approval from the other shareholders of Atlas for the transaction. Atlas, a Hong Kong-based asset management company and the paren
Associated British Ports unveils ambitious green plans Associated British Ports (ABP), UK's major port group, has officially unveiled Ready for Tomorrow (RFT), a broad new sustainability strategy backed by a plan to invest around US$2.4 billion (GB£2 billion) in decarbonising its own operations by 2040 at the latest and major infrastructure projects to support the wider UK energy transition. For ABP's internal activities, Ready for Tomorrow names fiv
EGD sells down in Klaveness Combination Carriers The second-largest shareholder in Klaveness Combination Carriers (KCC), EGD Shipping Invest, has sold 3m shares for around $20.6m. The Norwegian investment company offloaded the shares through a private placement at a discount price of NOK71 per share, compared to yesterday's close at NOK78. Consequently, KCC shares opened at NOK73 on Wednesday. After the sale, EGD ...
Farra Marine books seven CTV newbuilds Irish crew transfer vessel (CTV) owner and operator Farra Marine is bolstering its fleet with a contract for seven newbuilds at Singapore's Penguin Shipyard. The vessels will be delivered in 2023 and early 2024. The newbuilds, part of the WindFlex-27 series, will when complete, see Farra Marine boast a fleet of 14 CTVs servicing the ...
Bluefloat reveals 1.7 GW Austalian floater scheme Spanish developer BlueFloat Energy has revealed plans for a new floating offshore wind project in Australia. The Eastern Rise offshore wind project, which sits within the proposed offshore wind zone in the Pacific Ocean off the Hunter region of New South Wales, is the latest in BlueFloat Energy's growing portfolio of projects currently standing at ...
SKS eyes LR2 pool expansion with Signal tie-up Norwegian LR2 owner and operator SKS is looking to grow its pool of LR2 product tankers by partnering up with diversified shipping services group Signal. The new setup, named "SKS LR2 Pool - powered by Signal", has been launched with SKS' five LR2 spot vessels, co-owned with funds managed by Hayfin Capital, with the goal ...
Maersk offloads $80m of Höegh Autoliners shares A.P. Moller - Maersk has reduced its stake in Norwegian car carrier player Höegh Autoliners by selling shares for nearly $80m. The Danish shipping and logistics group has offloaded around 13.5m shares, corresponding to around 7.1% of Höegh Autoliners, at a price of NOK61 per share, or a total of NOK821.5m ($79.5m). The shares closed ...
Saipem wins $400m Ivory Coast drilling contract Italy's Saipem has landed a drilling contract worth $400m with Eni and Petroci joint venture for operations offshore the Ivory Coast. The Milan-headquartered firm said the deal includes the use of the recently chartered seventh-generation drillship Deep Value Driller. Saipem noted the contract value is to be considered gross of the leasing costs of the ...
DEME and Jan De Nul JV selected to build world's first energy island off Belgium Belgian marine contractors DEME and Jan De Nul have won a contract for the construction of the world's first artificial energy island. Under the joint venture TM Edison, the two offshore construction players sealed an EPCI (engineering, procurement, construction and installation) deal with Belgian transmission system operator Elia covering the further design and construction of ...
Product tanker sinks off popular Filipino tropical holiday island A 6km long, 4km wide diesel slick has been detected near the white sandy beaches of the popular island resort destination of Mindoro in the Philippines following the sinking yesterday of the locally flagged product tanker Princess Empress. The laden ship's engine overheated early yesterday morning, having encountered rough weather on a domestic trip. The ...
India makes vintage ship ban official As widely telegraphed last month, India has officially banned bulkers and tankers aged 25 or above from entering its waters. The new rules are for for Indian-registered ships while also applying to foreign vessels discharging in India. The government has given existing vessels affected by the new cap three more years' sailing time, regardless of ...
Hong Kong liner rapidly builds up links with Russia Yesterday, Splash detailed the main container names operating in and out of Russia, with a slew of new capacity entering the region as many global carriers have exited in the wake of war with Ukraine. One of the most ambitious new players is Hong Kong-registered OVP Shipping, formed in late 2020. OVP launched a first ...
Rotterdam port to widen canal to allow megamax two-way traffic to Maasvlakte 2 The port of Rotterdam will widen its Yangtze Canal to allow two-way traffic for megamaxes to its giant Maasvlakte 2 port complex. The jumboisation of containerships, which have quadrupled in size this century, has meant that only one megamax boxship can transit the 600 m wide, 2 km long canal at present. The widening of ...
Methanol boxship orders growing more rapidly than all other fuel types The container segment is leading shipping to green new pastures, taking a massive lead when it comes to investing in methanol propulsion. According to Alphaliner, methanol boxship orders have grown more rapidly than LNG in the last six months, while carriers have all but ditched orders for conventional fuel oil tonnage with just 8% of ...
Keppel and Sembcorp yard merger completed Singapore's top two yards have completed their mega merger, ending a two-decade saga. Keppel Offshore ∓ Marine (Keppel O∓M) and Sembcorp Marine have joined forces and will trade under the Sembcorp brand with Keppel's Chris Ong taking charge of the yard giant. The combined yard group has a total orderbook of S$18bn ($13.4bn) lasting through ...
Unleashing digital innovation in the third era of satellite connectivity Digitalisation in the maritime industry has developed in step with the available connectivity; now new technologies promise to enable a completely new level of innovation, writes Tore Morten Olsen, president, maritime, Marlink. The evolution of satellite connectivity and the progress of digitalisation are closely correlated and the latest advances in connectivity look set to unleash ...
Box shipping faces major shakeup in wake of 2M divorce Alliance agreements struck in the wake of the Hanjin collapse are set to be reset. The changes could even be...
TOP Ships moves to shore up support for share price Measures include moratoria on new share offerings and executive bonuses
Höegh Autoliners buys leased PCTC from Scorpio Group World's fifth-largest operator of pure car and truck carriers has agreed to purchase 18-year-old vessel for $34.25m
Yinson Production wins $5bn FPSO contract for Angola The contract with Eni Angola, worth about $5.3bn, is another sign of the revival of prospects for the offshore oil...
MSC leads growing alternative-fuel boxship orderbook Conventional fuel propulsion represents only 8% of orders placed so far in 2023
BIMCO lifts dry bulk demand forecast on China recovery Improvements in the dry bulk market are expected, with demand growth likely to outstrip vessel supply when taking into account...
West unveils war and hull insurance products New lines will be written on a commercial basis to subsidise mutual membership, says chief
FT ranking shows sustainability makes good commercial sense Silverstream's inclusion at the top of a listing of Europe's fastest-growing businesses underscores the belief that cleaner shipping can still...
India's reliance on Russian crude oil spikes Indian imports of crude oil from Russia rose 705% year on year in 2022 as demand increased from its large...
Maritime engineering firm among Europe's fastest-growing companies Air lubrication technology should be fitted on all newbuildings, says Noah Silberschmidt. First movers Grimaldi, Shell and Carnival have returned...
US in an 'unstable arms race' with China in Pacific The US and China are ramping up their naval arms race, and an escalation could have a devastating impact on...
KSOE wins order worth $180m for four MR tankers Deal comes as tanker orders are expected to increase this year amid bullish freight markets and demand for fleet renewal
Daily Briefing VLCC tonne miles and rates soften as China's demand for US crude remains flat | Great power rivalries threaten to...
India's ban on ageing tankers and bulk carriers hardly a 'game changer' India is to slowly withdraw trading licences for oil tankers, bulk carriers and vessels in its offshore fleet that are...
Sanction risks fail to stop carriers' gold rush in Russian trade Geneva-based MSC has the biggest presence in Russian trade in capacity terms, followed by Russian domestic carrier Fesco, according to...
US green energy subsidy package favours blue ammonia, fuels forum hears Grey methanol, B30 biodiesel and liquefied natural gas are said to be the most competitive alternatives when compared with conventional marine...
TPM23: Ocean Alliance could be next domino to fall after 2M: analyst Cosco Shipping's large orderbook and decreasing market share make it more likely to go after customers of its Ocean Alliance partners, analyst Lars Jensen told TPM23.
TPM23: Trans-Atlantic profitability 'unique' given loss-making history: CTS The elevated rate levels on the trans-Atlantic will continue to soften, but there will be no steep drop in prices as seen on the major trades out of Asia, TPM23 attendees were told.
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EPCs look beyond traditional oil and gas for growth opportunities EPC projects drive much of the global demand for project and breakbulk logistics services from carriers, forwarders, and other suppliers.
Zim's Gold Star Line forms Vietnam shipping venture with Hai An Transport The JV will serve Vietnam's three major ports and link with nearby provinces where direct access to international and domestic shipping services is limited.
Shippers face tricky balancing act in trans-Pacific service contract talks With memories still fresh of being shut out of capacity over the past two years and forced into a historically high spot market, shipper executives are headed into service contract talks mindful of the need to minimize costs while at the same time ensure cargo moves.
TPM23: LA-LB needs more than new labor deal to bring cargo back: Seroka The Port of Los Angeles' executive director acknowledged that stalled West Coast longshore labor talks are taking a toll on the port, but says the cost of shipping through California is also a big factor.
TPM23: CN focusing investment on capacity growth: CEO Canadian National will grow its capacity based on the assumption that China will remain the biggest sourcing country for North America while acknowledging the shift under way into Southeast Asia, India, and potentially Africa that could fuel cargo through eastern Canada, its CEO told TPM23.
Norwegian Cruise Line's $1.3bn methanol bet a 'great signal' Chemical tankers and container ships are already using alternative fuel for propulsion
S∓P moves poised to add youth and scrubbers to Eagle Bulk fleet profile Eagle Bulk sells older supramax and is expected to announce purchase of modern ultramaxes
Investors flee as Performance Shipping sells more shares Serial equity raiser taps capital markets again for $12.5m
Baltic Dry Index hits seven-week high as China's manufacturing reaches highest level in decade Futures market for capesize bulkers shows that higher rates are in the works for that sector
Hoegh Autoliners buys fifth bareboat-chartered ship in a year with $34m purchase Norwegian car carrier company buys back 7,850-ceu Hoegh Berlin which it sold in 2009 and chartered back under a bareboat deal
Bahri and Suez Canal team up to form joint stock company As Egypt looks for politically palatable ways to monetise the waterway, shipping is trying to make its voice heard
Slow death of the LR1 tanker will not be reversed by rare newbuilding order in China Shipbroker believes the clean tanker class will remain a niche concern
Global Ship Lease scouts for acquisitions as container market starts to normalise Tonnage provider will unleash its fire power after selling smallest vessel
ZeroNorth doubles the amount of CO2 it has cut from clients' vessels Danish platform claims it has prevented 443,780 tonnes of the greenhouse gas being released into the atmosphere
Wet and dry, fast and slow: A look at how freight markets moved emissions in bulkers and tankers Green Seas newsletter talks to The Signal Group's market analyst about how the spot markets moved carbon intensity for key segments
Ultrabulk looks at building 'series' of dual-fuel bulk carriers after banner year Negotiations are expected to be concluded this year, the owner-operator said
Impact limited as India bans old tankers and bulkers Shipping regulator confirms move to cut emissions and promote the Indian flag
Sanctioned ship manager linked to first Russian 'dark' STS since EU ban Sun Ship Management was listed in European Union's 10th sanctions package to mark the first anniversary of Russia's invasion of Ukraine
Ambitious West of England launches war and hull business Protection and indemnity insurer continues to diversify its commercial business lines
Virginia McVea to run MCA as female influence grows at the top of UK shipping Political, policy and safety roles now all held by women
Arctic poaches from Lorentzen as market for offshore brokers tightens A strengthening market means broking shops are on the prowl for each other's talent
Signal jumps into Jebsen's SKS tanker pool to boost hunt for more LR2s Greek and Norwegian players teaming up to expand product carrier operation
India's Gatik nears 50-ship mark with latest round of tanker buys Mumbai-based player emerges behind fresh wave of acquisitions that even involves a bulker
Disposal dilemma: Frontline in two minds on more tanker sales in 'smoking' market Norwegian tanker company deciding whether to stick or twist with old ships
Soren Toft signals reduction of MSC's chartered fleet in 2023 CEO of liner giant tells TPM23 his company prefers to focus on owned tonnage
Sembcorp Marine's merger with Keppel O∓M is finally done and dusted Focus of nascent mega-yard group will be the global energy transition, says newly appointed chairman
Hoegh Autoliners stock plunges as Maersk sells off big chunk for $80m Share price drops nearly 12% as long-time partner cashes in some of 26% holding in car carrier company
Maersk bringing in former Adidas boss Kasper Rorsted as new director Giant shipowner nominates experienced Danish executive for its board
Solstad says 'spoiled' charterers now facing high rates and ship shortages Newbuildings will take years to replenish an ageing offshore fleet, Norwegian CEO believes
Himalaya Shipping is 'compelling' bet on bulker recovery, Fearnley Securities says Investment bank begins coverage of Tor Olav Troim-backed start-up with a 'buy' rating
Crew rescued but fuel spilt as new tanker sinks off Philippines Small product carrier Princess Empress went down off Oriental Mindoro on Tuesday
EGD takes big profit by selling $23m of Klaveness Combination Carriers Norwegian investment company first bought into innovative shipowner in 2016
Petrovietnam scours the secondhand market for offshore support vessels Vietnamese oil major's offshore services arm calls for proposals for four AHTS vessels and PSVs
Lauritzen Bulkers' Josefsen says handysizes are the bulkers to bet on Versatility of dry cargo workhorses means Danish owner and operator is looking ahead with optimism
Genting Hong Kong's last cruise ship World Dream has been sold Auctioned cruise ship listed in court records as sold, but everything else remains a mystery
India's Russian crude imports up over 700% in 2022, says Bancosta But increasing demands to ensure shipments do not breach Western sanctions may crimp the flow
With $900m in revenue ahead, will Tidewater spend cash on vessels, buybacks or acquisitions? The company is considering a number of potential uses for cash as its 2023 revenue is scheduled to skyrocket
How will Tidewater spend $900m? Vessels, buybacks or acquisitions? The company is considering a number of potential uses for cash as its 2023 revenue is scheduled to skyrocket
Container lines still chartering ships despite drop in cargo demand Charter rates are far below the peak but higher than pre-COVID as liners continue to sign new container-ship leases.
Sichuan Airlines to convert Airbus A321 aircraft for cargo Sichuan Airlines is taking the unusual step of carrying out cargo conversions of Airbus A321 aircraft on its own.
Port of Virginia eyes completion of channel deepening this year The Port of Virginia says it's nearly done with its channel deepening project, which will enable the port to allow for two-way traffic of ultra-large container vessels.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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