Railways achieves another freight loading & revenue high
Shankar Shinde appointed Vice Chairman of CCTT; emphasises on cross border trade facilitation through INSTC route
WCO & IAPH launch guidelines on cooperation between Customs & port authorities
PM Modi, Sheikh Hasina inaugurate India-Bangladesh mega rail connectivity projects
Northeast infra gets a boost with key projects: Gadkari
Query reply pending with Exporters/IEC Holders against the Drawback Shipping Bills
WTO issues new edition of Trade Profiles
Sugar output seen dipping
PSA Singapore & Pacific International Lines expand collaboration on sustainability solutions to decarbonise global supply chain
ONE in China India Pakistan service
Procedure for revalidation/new registration of Self-Sealing Permission in EDI system by FSP Cell for Electronic sealing of containerized cargo at factory or warehouse premises
WISTA Cyprus to host 2024 WISTA International AGM & Conference in Limassol
India, Brazil discuss ethanol tech transfer to settle sugar dispute
Key infra sectors' growth dips to 8.1 pc in Sept.
Cotton output seen at 29.5 million bales in 2023-24: CAI
Govt notifies increase in windfall tax on crude to Rs 9,800 per ton
Haldia Petrochemicals conducts its first ever naphtha ship-to-ship transfer at Sandheads
Lines reportedly diverting ships to Haifa port in Israel's north
New ultra-low emissions Wärtsilä 31DF cuts methane slip Wärtsilä has introduced a new ultra-low emissions version of its Wärtsilä 31DF engine, first introduced in 2015. When operating on LNG, this new version of the dual fuel engine can further reduce
GSBN and DNV collaborate on verified data sharing Global Shipping Business Network (GSBN), an independent non-profit technology consortium, has inked a Memorandum of Understanding (MoU) with the DNV classification society. By facilitating the reliable sharing of verified data for green claims, the partnership hopes to boost decarbonisation and speed up the use of alternative fuels. "To achieve shipping decarbonisation at scale, it needs to have
Nokia to provide Caribbean port with first private wireless network Nokia has been selected by Kingston Freeport Terminal Limited (KFTL) to deploy the first private wireless network at the container terminal of the Caribbean port. The network was installed and will be deployed by Nokia Channel Partner EGC International. It is worth noting that KFTL's Digital Transformation journey has become a reference in the Americas due to the adoption of new technologies such
COSCO and CCIC South America ink strategic cooperation deal COSCO SHIPPING (South America) and China Certification & Inspection Group South America inked a strategic cooperation agreement in Argentina on 5 October. China Certification & Inspection Group South America is an independent third-party firm that provides inspection and certification services for important South American commodities shipped to China. It operates on the concepts of "standards, in
Black Sea dry bulk exports up 13% y/y as Russian wheat exports rise "Between January and October, dry bulk exports out of the Black Sea increased by 13% year on year, driven by Russian wheat exports. After two strong consecutive wheat harvests in Russia, the country's exports are now on track to reach a new record in 2023. However, Black Sea export volumes are 20% lower than in 2021 due to the loss of Ukrainian cargoes following Russia's invasion of the country,"
Container trade less of a GDP indicator these days Alphaliner's report said that container trade is decoupling from gross domestic product, as the TEU-to-GDP multiplier has continued to weaken since the pandemic, with the last 10 years now showing an average multiplier below 1. The ratio, which peaked in the 1990s and was still a robust 2.6x in the 2000s, had previously been a reliable indicator for the market, such that container trade could be
Port of long Beach partners with federal bodies to improve navigation Port pilots across the United States will now have a new high-precision navigation tool thanks to the Port of Long Beach, Jacobsen Pilot Service, and the National Oceanic and Atmospheric Administration (NOAA), making shepherding ships through the underwater terrain unique to each port safer than ever. "The Port of Long Beach handles cargo valued at more than US$200 billion every year, and safety
PSA Singapore and PIL expand collaboration on decarbonisation initiatives Aiming at net zero greenhouse gas (GHG) emissions, PSA Singapore and Pacific International Lines (PIL) have signed a Memorandum of Understanding (MoU) to jointly create sustainable solutions to reduce carbon emissions and enhance efficiency in shipping operations. This partnership is expected to support the creation of environmentally friendly shipping routes for PIL's container shipments, focuss
ONE's Q2 returns show volumes up but profits crash Ocean Network Express (ONE) is set to undergo a series of cost-saving initiatives as its second-quarter returns show a 1% increase in cargo volumes yet still saw a 97% slump in its first-half revenues compared to the previous year. The Singapore-based carrier recorded first-half volumes of 5.91 million TEUs compared to 5.83 million TEUs in the first two quarters of 2022 but saw revenues crash fro
ONE announces China India Pakistan service upgrade Ocean Network Express (ONE) will upgrade its China India Pakistan (CIP) service, starting from the cycle of westbound ETA at Shanghai on 31 October. The updated service rotation of the CIP service will be Shanghai (China), Ningbo (China), Shekou (China), Singapore, Port Kelang (Malaysia), Nhava Sheva (India), Karachi (Pakistan), Mundra (India), Colombo (Sri Lanka), Port Kelang (Malaysia), Hong Ko
IoT technology will differentiate dry container services The Internet of Things (IoT) has been a largely untapped resource for dry container shipping. ORBCOMM's new-to-the-market dry container monitoring solution offers unprecedented transparency, cost-effective proof of compliance and untapped commercial opportunities, says Christian Allred, Executive Vice President, International Sales, ORBCOMM. Carrying around 90% of non-bulk cargo transported by se
ITIC warns ship managers of the dangers of management mistakes The International Transport Intermediaries Club (ITIC), a mutual insurer that provides professional indemnity cover for transport intermediaries in the marine, offshore, renewable, and aviation industries, has warned ship managers about the risks and costs associated with claims of inability to meet contractual obligations. The warning was issued as part of ITIC's October 2023 Claims Review, whic
CMA CGM transfers first peruvian grapes to Japan CMA CGM's Asia Central South America 1 (ACSA1) service shipped the first load of Peruvian grapes to Japan. The milestone shipment arrived at CMA CGM's Honmoku D4 terminal in the port of Yokohama. Peruvian grapes have joined the list of fresh fruits that the Asia-Latin America service has reliably brought to the Yokohama port, arriving onboard the 15,000 TEU CMA CGM Liberty, one of three e-methane
Port of Long Beach releases draft report on environmental impacts of World Oil Terminals' project The Port of Long Beach has released a draft report on the environmental consequences of World Oil Terminals' proposed project to build two new petroleum storage tanks at its privately owned and managed facility on Pier C. Ribost Terminals has applied to the Port for a Harbor Development Permit to build and operate two new 25,000-barrel petroleum storage tanks with internal floating roofs, new tan
DNV collaborates with Samsung Heavy Industries Samsung Heavy Industries (SHI) and the classification society DNV have entered into a Memorandum of Understanding (MoU) during KORMARINE, aiming to create SHI's advanced Remote Operation Centre (ROC) for immediate supervision and management of Maritime Autonomous Surface Ships (MASS). The agreement will serve as the foundation for DNV and Samsung Heavy Industries to work together in fostering inn
Solstad offloads laid-up AHTS Norwegian offshore vessel owner Solstad has sold its fifteen-year-old anchor handling tug supply unit . The sale will result in a positive accounting effect of around NOK50m ($4.8m) in the fourth-quarter numbers. Delivery of the 2008-built AHTS to an undisclosed buyer has already been completed. The Singapore-flagged vessel has been in layup in Asia since ...
Hyundai Glovis lines up orders for world's largest car carriers South Korea's Hyundai Glovis is set to build the world's lagest pure car and truck carriers. The shipping and logistics unit of Hyundai Motor Group unveiled plans in a local stock exchange filing to spend around $1.84bn on a dozen LNG dual-fuel 10,800 ceu vessels for delivery in 2027. The Seoul-based diversified owner, best known ...
Noble scores drillship and jackup contracts New York and Copenhagen-listed offshore rig owner Noble Corporation has secured more work for its drillships and a pair of jackups units. The 2011-built floaters Noble Globetrotter I and 2013-built Noble Globetrotter II have both received additional contracts from Shell for work in the US Gulf of Mexico. The Globetrotter I has been fixed until ...
Japanese firm invests in Norwegian fuel cell developer Japan's Yokogawa Electric has bought into Norwegian fuel cell developer TECO 2030. Yokogawa's investment in TECO 2030 by way of acquiring treasury shares comes with a strategic partnership agreement aimed at working together on optimising hydrogen fuel cell technology and exploring business opportunities for distributed power sources in shipping and other industrial sectors. TECO 2030 ...
Gulf Marine Services wins batch of new deals London-listed liftboat operator Gulf Marine Services (GMS) has won several contract awards from unnamed clients for work in the Middle East. GMS said that it won three deals in total - two contract extensions for four years in total and one new contract for two years. All work will be done in Gulf Cooperation Council ...
Imza Marine buys first VLCC Turkey's Imza Marine has bought its first VLCC. The low-profile tanker player has tabled some $32.5m in recent months, adding one vintage product tanker after another. The latest ship is a step up in size, with the acquisition of the 16-year-old, 306,000 dwt Gesi for $48m, a ship that has changed names and ownership rapidly ...
Chris Stedman exits Petredec in deal with the Fearn family and Bahri Gas shipowner and trader Petredec has a new ownership structure following the exit of former director Chris Stedman. The Fearn family and Saudi Arabian state shipowner Bahri have struck a deal with Stedman to take over his stake in Petredec parent company Petredec Group Limited (PGL). The British Virgin Islands-headquartered PGL is the sole owner ...
IACS membership back up to 12 with addition of Türk Loydu The membership at the International Association of Classification Societies (IACS) is back up to 12. In March last year, the Russian Maritime Register was expelled from the body of elite class societies following Vladimir Putin's decision to invade Ukraine. While there is no sign the Russian class society will be welcomed back into the IACS fold ...
Growth of the shadow fleet has made Russian oil price cap 'unenforceable': World Bank Russia's swift build-up of a so-called shadow fleet of tankers - estimated to number more than 600 ships - has made the West's oil price cap "unenforceable", according to a new report from the World Bank. As one of many sanctions measures put in place against Russia since it invaded Ukraine in February last year, ...
US gives go-ahead to country's largest offshore wind project The US authorities have approved the development of Dominion Energy's 2.6 GW Coastal Virginia Offshore Wind (CVOW) project - the largest approved offshore wind project in the US so far. This is the fifth approval of a commercial-scale, offshore wind energy project under the Biden administration following the approval of the Vineyard Wind 1, South ...
Vision of green shipping corridor cluster outlined Members of the Silk Alliance cross-supply chain industry partnership, initiated by the Lloyd's Register (LR) Maritime Decarbonisation Hub, have issued an open letter to share their collective vision for the implementation of a green shipping corridor cluster. The open letter - described as a model for cross-industry collaboration across the maritime supply chain - aims ...
Ørsted ceases development of two US offshore wind projects, takes FID for Revolution Wind Danish renewable energy developer Ørsted has decided to cease the development of its Ocean Wind 1 and 2 projects. Simultaneously, it has taken a final investment decision on the Revolution Wind project. Discontinuation of the Ocean Wind 1 and 2 projects off the coast of southern New Jersey in the US is a consequence of ...
EMGS wins first renewable energy infrastructure survey deal Norwegian seismic service provider Electromagnetic Geoservices (EMGS) has entered into its first acquisition contract related to renewable energy infrastructure. Subject to the issuance by the undisclosed customer of certain notice to proceed orders, the contract has a value of up to approximately $2m. The contract does not include any minimum scope of work. Under the ...
Record dry weather forces further dramatic cuts at the Panama Canal The dry weather in Panama shows no sign of letting up with the El Niño weather phenomenon wreaking havoc to schedulers working for the country's canal administration. The Panama Canal Administration warned yesterday that following the driest October on record, the volume of daily transits will be cut further. At its maximum, the canal can ...
MOL pursues electric vessels Japanese shipowner Mitsui OSK Lines (MOL) and Pyxis Maritime, a Singaporean maritime electrification technology start-up, are going to work together. The pair have signed a memorandum of understanding to develop the electric vessels markets in Singapore and Japan. "We believe this memorandum will be an important step for both companies to make a significant change ...
Panama Canal restrictions set to drive continued disruption, rates and record slot auctions Panama's rainy season has been the driest on record and with little hope of drought easing this year the canal...
Gard offers war risk clients access to DNK intelligence products London and NorthStandard operate in Combined Group pool, while West entered market earlier this year
EU ETS to include calls at Tanger Med and East Port Said Containerships sailing from a non-EU port to discharge cargo at an EU port via Tanger Med or East Port Said...
Boxship charter rates still falling while terms get shorter The outlook for the containership charter market is increasingly bleak as oversupply prevails
Dark fleet consolidates Russian oil shipments dominance Some 39% of all vessels calling at Russian Baltic and Black sea ports last month were elderly, anonymously owned and...
China Merchants Energy Shipping reports robust Q3 profit growth The company announced a new name to show its diversified business portfolio
China still the driving force behind vehicle carrier trade growth, says Wallenius Wilhelmsen 'We believe volumes next year will be at least on level with 2023,' says WWL chief executive Lasse Kristoffersen
Green Marine forms joint venture in Singapore to build methanol dual-fuel vessels Founder of Copenhagen-based Green Marine says several new building projects are in the works
Costamare adds new bulker acquisition finance to near $1bn liquidity pot Neptune Maritime Leasing arm contributes to profitable third quarter
Türk Loydu becomes IACS member and eyes global expansion Türk Loydu becomes the 12th member of IACS. Its full membership application was made in February this year
Daily Briefing Should ships use grey methanol? | Ukraine's seaborne exports top 2m tonnes | Non-domestic arrivals to Israel slow
Southeast governors say ILA could 'weaponize' Leatherman court decision Six amicus briefs have been filed to the US Supreme Court supporting the South Carolina Ports Authority's position that the ILA is illegally forcing carriers to boycott Charleston's Hugh Leatherman Terminal as a means to acquire jobs that belong to state employees.
USWC-bound ships boost reliability in September amid cargo push On-time performance to the West Coast improved during the busiest month of 2023 for Asian imports to date, but East Coast reliability took a dip.
Omni Logistics sues Forward Air to enforce completion of merger deal Freight forwarder Omni isn't giving up on a merger with Forward and is moving to force completion of the deal despite Forward's cold feet.
Forwarders warn of rising transshipment, cargo delays after ETS rollout Carriers are already beginning to adjust schedules ahead of Europe's new shipping carbon tax, something forwarders say could reduce direct port connections and boost transshipment activity.
Shipping emissions data-sharing initiative launched by DNV, GSBN The two partners will collaborate on pilot projects aimed at accurately measuring and tracking emissions reduction data across the supply chain.
Forwarders warn of rising transshipment, cargo delays after ETS roll out Carriers are already beginning to adjust schedules ahead of Europe's new shipping carbon tax, something forwarders say could reduce direct port connections and boost transshipment activity.
Offshore services companies expect boost from increased energy spending Fresh investments among oilfield services giants should bolster the offshore services market, with supply chain spending expected to grow 16% in 2023 and 2024.
Seacor Marine narrows loss as cyclical recovery continues New York-listed owner may offer $25m in common shares
Norwegian Cruise Line Holdings beats analyst consensus as demand remains strong New York-listed operator posts better results despite contending with Maui wildfires and escalating conflict in Israel
Green Seas: Climate change reverberates through shipping amid Panama Canal and liner woes Newsletter on the environment and the business of the ocean explores ways in which climate change is impacting maritime trade lanes
Turkey's Imza Marine breaks into VLCC sector with move for much-flipped vessel Istanbul owner lists the Gesi in its fleet, with brokers quoting a 'soft' price
ESL profit drops as bulker group tries to seal investment from new partners Finnish owner says time-charter costs are still high in the Baltic
Mariner training vessels will drag on Philly Shipyard bottom line as yard mired in problems The five vessels will be loss-making efforts for the company
Hayfin Capital emerges behind methanol-ready tanker newbuildings at HD Hyundai Alternative investment fund says suezmaxes will help grow a more carbon-efficient asset base
Danny Ungar's Unity targets 50-ship bulker fleet in new venture with Synergy London owner is drawing up expansion plans with the help of Rajesh Unni's ship-management group
Shipowner seeks damages over cargo links to sanctioned Russian Tonzip Maritime brings case against Singapore-based trader after cargo was linked to oil tycoon Mikhail Gutseriev
Costamare reveals busy S&P, commits fresh 'hunting license' funds for buys Greek owner renews bulker fleet and sells older boxships while growing CBI and Neptune Maritime Leasing platforms
Cosco Shipping Holdings' quarterly profit plummets 83%, citing operational challenges Hong Kong-listed carrier is latest victim in downturn in container shipping markets
Cosco Shipping Holdings sees profits drop 83% in last quarter Hong Kong-listed carrier is latest victim in downturn in container shipping markets
Wallenius Wilhelmsen bullish on 2024 after third-quarter earnings World's largest car carrier owner trumpets strong contract renewals and automaker guidance
Clarksons-backed Sea promotes former ZeroNorth exec to product chief Mads Donkin joined the vessel-fixing platform in Copenhagen in June
Panama Canal auction smashes vessel transit record as slot goes for $2.85m Pressure mounts at drought-hit waterway as new record transit price dwarfs normal fee
Clarksons-backed Sea promotes former ZeroNorth executive to product chief Mads Donkin joined the vessel-fixing platform in Copenhagen in June
Wartsila unveils new methane-slashing version of LNG dual-fuel engine Latest version piloted on Wasaline's ferry, which acted as technology provider's 'floating lab'
Banks force Havila out of AHTS sector with more sales as DOF Group takes over duo Saevik family-controlled told by lenders to offload trio of ships
Turk Loydu joins IACS after years of talks, following 'robust' vetting Turkish classification society plans to expand footprint following its international recognition
Stamford Green Marine targets owners, investors and traders to build methanol-fuelled fleet Shipowning platform to build and charter out methanol dual-fuel vessels
Hyundai Glovis poised to place $1.84bn order for 'world's largest' car carriers Chinese shipbuilders are expected to secure contracts of up to 12 units of 10,800 ceu each
Banks force Havila out of AHTS sector with more sales as DOF takes over duo Saevik family-controlled told by lenders to offload trio of ships
World Bank: G7 price cap unenforceable as Urals price rises The growth of the shadow fleet has allowed Russia to trade outside of the price cap
Stamford Green Marine targets shipowners, investors and traders to build methanol-fuelled fleet Shipowning platform to build and charter out methanol dual-fuel vessels
Klaveness Combination Carriers says carbon levy cost could cut $4m eco retrofit payback time to six years Engebret Dahm makes the case for energy saving devices on Cabu carrier
Singapore's Pacific International and terminal operator PSA join forces to slash carbon emissions Singapore stalwarts looking at a number of initiatives including low emission routes and biofuel trials
The never-ending story: Greek tonnage tax wobbles may not be going away A little-noticed lawsuit in Luxembourg may open a can of worms in Greece's rearguard battle to defend its tonnage tax
KCC says carbon levy cost could cut $4m eco retrofit payback time to six years Engebret Dahm makes the case for energy saving devices on Cabu carrier
East England Shipping LR1 product tanker seized in Singapore Bunker supplier arrests vessel, alleging its fuel bills have not been paid
PIL and PSA aim to develop low emission trade routes Singapore stalwarts looking at a number of initiatives including low emission routes and biofuel trials
Panos Laskaridis champions family values as he drives growth Greek owner is growing a 'greener' fleet but says the time is not yet ripe for 'fancy' future fuels or ships
Offshore wind recruitment firm sees Singapore IPO slump on debut Company shakes off disappointing start as listed entity says going public enhances its brand visibility
Liner firms in uproar as protectionism moves create chaos at Bangladeshi port Foreign players claim cargoes are being diverted onto Bangladeshi vessels while their ships face long delays in Port of Chittagong
Shipping braces for impact as Panama Canal slashes capacity The water crisis at the Panama Canal is getting worse and will force more ships to take much longer routes.
IndiGo, Air Inuit opt for converted narrowbody freighters The freighter conversion business is slowing down, but there remains residual momentum from carriers such as IndiGo.
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