T. Mariotti shipyard delivers Seabourn Pursuit Carnival Corporation's Seattle headquartered ultra-luxury Seabourn brand has taken delivery of its second expedition ship, Seabourn Pursuit, in a ceremony at the T. Mariotti shipyard in Genoa, Italy. Measuring 557 feet in
Glosten unveils design for fisheries-focused research vessel Seattle headquartered naval architect firm Glosten has released imagery of its latest vessel design: a Global Class, fisheries-focused, research vessel that is quieter on board and underwater. Developed with fisheries research in
Cainiao Group opens new warehouse in Indonesia Cainiao Group, the logistics arm of Alibaba Group Holding Limited, announced the launch of its first warehouse, Cainiao Cikarang Logistics Park, in Jakarta, Indonesia as part of its regional cHub expansion plan. More specifically, the new Cainiao Cikarang Logistics Park is part of a regional warehouse network of Cainiao Hubs or cHubs in Southeast Asia and is the third warehouse in the network. Ad
Long-term ocean freight rates hit two-year low just as record new levels of ships enter market and overcapacity adds further pressure: Xeneta Global long-term shipping rates sank to a two-year low in July, with the latest data from Xeneta's Shipping Index (XSI®) showing a fall of 9.5% since June, adding to a deep collapse that started last year. Long-term valid contract rates have now lost 57.8% of their value since the same period in 2022. Xeneta's real-time data, crowd-sourced from leading global shippers, makes bleak viewing for c
Wärtsilä to equip CMA CGM newbuildings with methanol-fuelled auxiliary engines Maritime technology company Wärtsilä will supply French ocean carrier CMA CGM with methanol-fuelled auxiliary engines. The engines have been ordered for six 15,000 TEU container ships being built at China's Dalian Shipbuilding yard. Wärtsilä received the order in the second quarter of the year. According to a statement, the six container vessels are the first CMA CGM ships to be ordered using met
COSCO SHIPPING launches 700 TEU electric boxship COSCO SHIPPING Development successfully launched a 700 TEU electric container vessel (N997) on 26 July at No.1 Shipyard of COSCO SHIPPING Heavy Industry in Yangzhou, China. According to the Chinese transportation giant, the new electric boxhsip marks a significant advancement in the adoption of fully battery-powered vessels in inland waterways. "COSCO SHIPPING Development will remain committed to
Interview with Maria Georgiou, MD of WTO Hellas: "2023 so far better than predicted" World Transport Overseas (WTO) is one of the fastest-growing logistics companies in Eastern Europe with its own subsidiaries in Bulgaria, China, Croatia, Greece, Kosovo, North Macedonia, Romania, Serbia, Slovenia and Taiwan. Maria Georgiou is the managing director of WTO Hellas and spoke to Container News about the company's recent developments, expansion plans and special services. Additionally,
Freight rates rise on GRIs and Canadian strike Transpacific rates rose to a nine-month high when the Shanghai Containerized Freight Index (SCFI) closed on 28 July, as general rate increases (GRIs) on 1 August were supported by high fleet utilisation and Canadian dockers' industrial action. Asia-US West Coast rates hit US$1,943/FEU, while those for Asia-US East Coast averaged US$2,853/FEU, a level not seen since October 2022. The same day, the
Montreal Port Authority president and CEO steps down The Montreal Port Authority (MPA) has announced that its president and chief executive officer (CEO) Martin Imbleau will step down on 8 September. "I am extremely grateful for the trust placed in me by the Board of Directors as well as the MPA team, made up of committed, competent people dedicated to operating the present and building the future of the Port of Montreal," stated Imbleau. According
Metrans launches new regular train service in Europe A new regular common user train service was recently launched by Metrans that links the Croatian port of Rijeka, via the Adriatic Gate Container Terminal (AGCT), to Budapest in Hungary. More specifically, the new rail cargo service, that was launched in June, connects AGCT with Metrans' Csepel Terminal in Budapest. "We commend Metrans for launching this new service that connects Rijeka to Csepel
DP World Logistics sees five new customers at London Gateway DP World has welcomed five new customers at its latest facility at London Gateway in the first 100 days of operation, following surging demand for warehousing space near London. The high level of interest in the multi-user warehouse stems from businesses in the Fast-moving consumer goods (FMCG), manufacturing and industrial sectors. Jonathan Himsworth, vice president of Sales at DP World Logistic
AD Ports and Saab UAE ink agreement to increase port efficiency and safety AD Ports Group and Saab UAE, a defence and security firm based in Abu Dhabi's Tawazun Industrial Park, have signed a Memorandum of Understanding (MoU) to establish a strategic cooperative relationship that will see both entities collaborate on the development of maritime surveillance solutions and sensors. Under the terms of the agreement, AD Ports Group will give access to appropriate testing si
CMA CGM increases FAK rates from Asia to North Europe CMA CGM has announced an increase in Freight All Kinds (FAK) rates from all Asian ports (including Japan, Southeast Asia and Bangladesh) to all ports in North Europe (including the United Kingdom and the full range from Portugal to Finland/Estonia). The French ocean carrier said the updated FAK rates will be effective from 15 August 2023 and will be applied to dry, out-of-gauge, reefer and empty
CMA CGM implements port congestion surcharge for reefer cargo in Cameroon CMA CGM will apply a port congestion surcharge (PCS) of US$600 per reefer container that is sailing to the port of Douala in Cameroon. This surcharge is applied only to reefer cargo and has already been implemented since 27 July for the majority of potential origins of cargo. However, for containers sailing to Douala from the United States, Puerto Rico, the US Virgin Islands, Brazil, Uruguay, Pan
CMA CGM revises overweight surcharge from Asia to East Africa CMA CGM has announced changes on overweight surcharge (OWS) from North East Asia, South East Asia, Mainland China, Hong Kong SAR & Macau SAR, Taiwan Area, to East Africa (except Mozambique). The updated OWS will be US$250 per dry 20 ft. container with a gross weight of over 18 tons. The changes will take effect on 1 August 2023. The post appeared first on Container News.
Tech firms to run automation project for Montreal container terminals Identec Solutions, a global company about wireless sensor and localisation technologies, partners with Visy Oy and Remprex on an innovative project, Project Mercury. The Project Mercury initiative has a CA$11 million (US$8.3 million) budget, CA$4.8 million (US$3.6 million) of which is sponsored by a grant from the Quebec Ministry of Transportation and Sustainable Mobility. More specifically, Proj
Turkey's Feyz Group books three ships at Damen Istanbul-based Feyz Group has contracted Dutch shipbuilder Damen to build three 3,850 dwt combi freighter vessels. The units will be built at the Damen Yichang Shipyard in China for delivery in early 2025. The so-called CF 3850 is a recently redesigned vessel, allowing a wide range of cargo, including up to 172 containers on a ...
Ocean Yield debuts sustainability-linked lease with four LR1 newbuilds for Braskem Norwegian owner and sale and leaseback player Ocean Yield has struck a deal with New York-listed petrochemicals firm Braskem to buy a quartet of LR1 product carrier newbuildings backed by 15-year bareboat charters with a dayrate linked to vessel's carbon emissions. "To the company's knowledge, this is the first sustainability-linked transaction in the maritime leasing ...
Ignitis, CIP form offshore wind partnership in Estonia and Latvia Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) have signed an agreement to collaborate exclusively on offshore wind opportunities in Estonia and Latvia. Estonia's adoption of a legal framework for offshore wind site allocation has paved the way for the utilization of extensive offshore wind potential. Meanwhile, Latvia continues to advance the development of legislation to ...
Floatel International clinches more contract work for accommodation vessel Oslo-based offshore accommodation vessel specialist Floatel International has won its second contract this week. The owner and operator of five semisub flotels has secured employment for the 2016-built Floatel Triumph in Australia. The charter for the unit, which earlier this year started with Woodside, is set to begin in early April 2025 and last for ...
Transpetrol expands with up to four LR2 newbuilds in South Korea Belgium's Transpetrol Maritime Services is bolstering its fleet with up to four LR2 tankers booked for construction in South Korea Shipbroker Allied is quoting a price of around $137m for two firm units at Hyundai Vinashin Shipyard in Vietnam with options attached for two more units. The firm 115,000 dwt pair will deliver in 2026 ...
Cosco electric vessel for 1,000-km Yangze route launched Cosco Shipping Development, the financing arm of Chinese state giant Cosco Shipping, has announced the launch of a 700 teu electric container ship which will serve a regular 1,000-km route up and down the Yangtze River. The 10,000-dwt vessel will be powered by 36 portable container-sized batteries and have two 900kW main propulsion engines. Cosco ...
Vårgrønn reveals 1.8 GW Irish offshore wind partnership Vårgrønn, a joint venture between Eni's Plenitude and HitecVision, has teamed up with Irish green electricity utility Energia Renewables to potentially deliver up to 1.8 GW of offshore wind projects in Ireland by 2030. The partnership will initially focus on Ireland's south and east coasts, where Energia Renewables have already completed extensive development work over ...
Feng Boming becomes chairman of China Merchants Energy Shipping Following the recent appointment of Feng Boming as the chairman of China Merchants Port, he was also named the chairman of China Merchants Energy Shipping (CMES). China Merchants Energy Shipping held the second extraordinary general meeting of shareholders in 2023 in Shenzhen last week to elect members of the company's seventh board of directors and ...
Turkish ships, backed by NATO planes, call in Ukraine Turkey, which has been central to getting grain exports through the Black Sea over the past year, looks like it is working new ways to ensure some of the foodstuff gets out of the war-torn country. Last month Russia decided to walk away from a shipping pact with Ukraine, an agreement that had been fostered ...
Technip Energies forms South Korean floating wind pact with Young Chang and Sarens Technip Energies has signed a Memorandum of Understanding (MoU) with yard infrastructure provider Young Chang and heavy lifting solutions provider Sarens to collaborate on floating offshore wind projects in South Korea. The cooperation covers the development of an integrated solution to provide floating wind turbine marshalling and integration services, using Young Chang's Shinan yard and ...
Scorpio and Mercuria form aframax pool Emanuele Lauro's Scorpio Commercial Management and Mercuria Shipping have created a new aframax venture called Mercury Pool. The tanker pool will have offices located in Switzerland, the UK, the US, and Singapore and starts out with six ships. "Both our companies have world-class reputations. This joint venture will be of great benefit to clients and ...
Ørsted and New Jersey sued over 'unconstitutional' $1bn tax break Danish offshore wind developer Ørsted and the state of New Jersey have been sued over a $1bn tax break the company received to develop the 1.1 GW Ocean Wind 1 project. Protect Our Coast NJ (POCNJ) and Defend Brigantine Beach (DBB) filed a joint lawsuit in the Superior Court of New Jersey claiming that such ...
HMM buys a VLCC South Korea's HMM has emerged as the buyer of a six-year-old 300,000 dwt, Hyundai Heavy-built tanker, V Trust, now renamed Universal Honor. The mammoth has changed hands quietly with no price tag attached, but brokers estimate the ship will have cost just over $90m. The seller of the ship is Hong Kong's Oriental Shipping & Investment, ...
Borr Drilling scores two jack-up deals worth $73m Offshore drilling company Borr Drilling has secured two letters of award (LOA) for its jack-up drilling rigs Gerd and Thor. Tor Olav Trøim's Borr Drilling said that these awards would increase Borr Drilling's firm backlog by approximately 421 days, excluding optional periods. The Gerd jack-up secured a binding LOA from an undisclosed customer for work ...
Cargo liquefaction remains top killer for seafarers working on bulk carriers Cargo liquefaction still remains the greatest contributor to loss of life associated with bulk carrier losses while grounding remains the main cause of ship losses, according to the recently published Bulk Carrier Casualty Report 2013-2022 from INTERCARGO, the international ship owning association for the dry bulk market. The document was submitted to the International Maritime ...
South Korean engine makers merge South Korea will have a new mega marine engine manufacturer with news today that HD Korea Shipbuilding & Offshore Engineering (KSOE), the parent of Hyundai Heavy Industries, is acquiring STX Heavy Industries. KSOE is paying $65.1m to Pine Tree Partners to take a 35% stake in the rival engine maker. KSOE joined the race to ...
CU Lines on the ropes with chairman detained in China The grand plans for China United Lines (CU Lines) lie in tatters, the company becoming a victim of the collapse in box freight rates over the last year. The company was one of the fastest growing new names in liner shipping to emerge this decade but over the past 12 months it has withdrawn a ...
Ardmore chief 'very pleased' with tanker market resilience despite earnings dip Chemical tankers and MR markets have fared well in the second quarter, although rates have moderated amid seasonal weakness and...
Ocean Yield signs 15-year carbon intensity-linked charter for newbuild tankers Ocean Yield has ordered four long range one product tankers to be built by Chinese shipyard Guangzhou for delivery in...
Greek owners underline role in EU food security and energy autonomy Average size of Greece-owned vessel is nearly double world average, says report
Boxship recycling picks up and tanker scrap sales expected to rise A total of 48 boxships have now been sold for scrap since the end of last year, although ship recycling...
Diana posts lower profit after market softens New York Stock Exchange-listed owner reaffirms dividend advice of 'not less' than $0.15 per share
US regulator accused of overstepping its remit The FMC has proposed new rules on what can be considered unreasonable behaviour in accepting cargo. But carriers say the...
Fire-stricken Fremantle Highway anchored for salvage with no sign of fire still burning The 6,200 car capacity pure car and truck carrier Fremantle Highway has been anchored clear of shipping lanes 16 km...
DHL raises guidance despite weak market Ocean volumes and earnings fell in the second quarter. Usual seasonal dynamics are unlikely this year
Hanwha Ocean seals first LNG carrier order since rebranding The newbuilding is expected to be delivered in early 2027
British ports welcome government move to revoke EU Port Services Regulation BPA chief executive Richard Ballantyne said the regulation could have delayed and frustrated port users and service providers. The ports'...
Shanghai port group president Yan taken away by China's anti-graft authority Move could signal yet another wave of anti-corruption investigations hitting China's shipping sector, following an earlier spate that has shaken...
Daily Briefing Antwerp detains 'dark fleet' Gatik tanker after STS transfers with Greece-owned ships | China's shipbuilding association warns of overcapacity risks...
Pacific Basin reports profit plunge amid headwinds on dry bulk market The weak global economy may continue to weigh on smaller-sized bulk carrier segments for the rest of the year
Pyxis Tankers invests in first bulker, citing 'too high' MR prices 'Counter-cyclical' investment in bulker should provide attractive returns, says Valentis
Scorpio Group and Mercuria form aframax pool An initial six aframaxes will be employed in the new 'Mercury Pool Limited' starting August 1. The move seeks to...
Disruptive 2022 does little to upset global container port rankings Half of the world's top 50 container ports grew their volumes last year while the other half saw declines, highlighting the contrasting fortunes of the global gateways.
Tough market conditions slow DHL's H1 profitability A challenging operating environment pulled down revenue and earnings at DHL, but the Germany-based integrator remains in a highly profitable position ahead of an uncertain second half.
Europe pulls ahead of US as key lane for South America container trade The value of Brazil's exports to European and Mediterranean countries is rising faster than those to the US, while Europe is also increasingly taking a greater share of Brazilian exports in percentage terms, trade figures show.
Diana Shipping misses Wall Street consensus due to weaker dry bulk market 'Further softness' expected in Diana's earnings as 20% of year's available days remain unfixed
Norwegian Cruise Line beats analyst consensus as it posts record revenue New York-listed cruise ship operator improved full-year outlook on earnings per share and Ebitda
Ardmore's first-world problems: what to do with all the money? Irish product tanker owner has done a lot, but equity analysts press on how it might do more for shareholders
Havila Kystruten finally takes control of sanctions-stricken cruise ship duo Norwegian cruise operator combined debt facility with equity and a loan to add the ships to its fleet
Ocean Yield inks first-ever emissions-linked bareboat charter deal Four LR1 newbuildings will be fixed to Braskem, with rates set by CII performance
Ardmore says tanker rates resilient despite profit fall CEO Anthony Gurnee says rates have eased due to economic concerns and seasonal patterns
Gatik-linked vessel detained on technical grounds after rare EU port call Management of the LR1 tanker Galatia shifted from India's Gatik in April amid a major fleet reshuffle
China United Lines expansion derailed as chairman goes missing Growth strategy questioned amid management changes and possible newbuilding sales
Turkey's Feyz Group renews fleet in deal for Damen Combi cargo ships Bulker and MPP player books three new vessels at Dutch shipbuilder
Turkey's Feyz Group renewing fleet in deal for Damen Combi cargo ships Bulker and MPP player book three new vessels at Dutch shipbuilder
Broker Aon spots trend toward 'financially stronger' P&I clubs Shipowners wary of future supplementary calls are moving to the giants of the industry
Clarksons creates new dry cargo broking leadership team across three desks Richard Haines, Guy Bartleet and Tim Francis to drive growth globally at world's biggest bulker shop
BP targets growing LNG supply capacity to 25 mtpa by 2025 Major in process of starting up new third train at Tangguh LNG in Indonesia with larger aims for end of decade
SunGas pumps $2bn into green methanol plant for Maersk's new ships US renewables company promises 400,000 tonnes of fuel per year from its Louisiana facility
Clarksons refocuses chemical tanker desk with Anthony Rowan as head of projects Experienced S&P broker will help with integration of specialised products operations at the UK shop
BRS Group predicts scrapping will pick up next year as prices rally A 20-year-old aframax could fetch a $17m premium at the breakers, French shipbroker says
China Merchants Energy Shipping announces new chairman The Shanghai-listed company appoints former Cosco Shipping Ports' Feng Boming as new chairman
Overcapacity is now 'inevitable' in container shipping market, says Xeneta Spot rates undergo a mini-revival but the outlook for long-term rates remains bleak
Gatik-linked ship detained after rare EU port call Management of the LR1 tanker Galatia shifted from India's Gatik in April amid a major fleet reshuffle
Pacific Basin bulker and crew arrested in Nigeria after cocaine seized Officials discover 24kg of drugs on board the Cooper Island
Transpetrol breaks newbuilding hiatus with Hyundai Vietnam product tankers The Belgian shipowner has ordered newbuildings under its fleet renewal and expansion plans
Mercuria joins ETA Shipping in joint venture for $250m newbuilding series Swiss trader and shipowner Mercuria Energy is backing Dutch start-up ETA Shipping in an order for up to 16 ships through new shortsea joint venture Mare Balticum
Tankers too expensive: Pyxis moves into bulkers through buy with boss Valentis Greek company forms joint venture to acquire modern ultramax carrier
Overcapacity is now 'inevitable' in container market, says Xeneta Spot rate undergo a mini-revival but the outlook for long-term rates remains bleak
Britain extends weapons removal deadline for floating armouries Security industry player urges UK government to approve collection of weapons in Indian Ocean as piracy declines
Bridgemans acquires Tallink cruise ferry for high-end accommodation role Baltic ferry will be used as an accommodation ship in Canada once conversion is completed
Jovo Energy markets Medmax LNG carrier newbuilding resale Sales sector for LNG ships continues to bubble but bulk of secondhand vessels on the market remain steam-turbined
Private Scorpio bets on product market rally through Ardmore, Hafnia President Robert Bugbee talks about reasons behind taking stakes in Irish, Danish peers
All-time high: Shares of container company Textainer still rising Shipping lines are seeing higher cargo volumes and successfully integrating newly built vessels into their fleets, says Textainer's CEO.
Ocean carriers warn FMC against regulating prices Requiring container ship operators to file an export policy would be too costly - and unlawful as well, carriers tell regulators.
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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