Maersk completes acquisition of Danish project logistics specialist A.P. Moller - Maersk has completed the acquisition of Martin Bencher Group, a Danish project logistics expert with capabilities within non-containerised project logistics and global operations. "With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries,
MSC updates Sub Saharan Africa service network MSC announced the reshuffling of its Angola service, adding Pointe-Noire in Congo Republic (CR) and Matadi in Democratic Republic of Congo (DRC) to the port rotation, from January 2023. MSC believes that the addition of Pointe-Noire in the Angola service will add a significant advantage for Asia and Indian markets in the region. The Swiss/Italian container line said the Congolese port will serve
MSC to link India with East Med with new service MSC (Mediterranean Shipping Company) has included Jubail Commercial Port in Saudi Arabia in the port rotation of one of its shipping services connecting India with the East Mediterranean. The service will connect Saudi Arabia to Turkey, the Indian Subcontinent, Africa, and the Middle East via weekly sailings to the ports of Khalifa (Abu Dhabi), Jebel Ali (UAE), Hamad (Qatar), Karachi (Pakistan),
Chittagong port authority, shippers are in a row over cargo palletisation The port users, shipping agents, and the Chittagong Port Authority (CPA) are in a tussle over a recent instruction issued by the port authority on "proper" palletisation of cargoes that comes in and goes out through Bangladesh's major port. Through a notification issued on 24 November, the port authority made mandatory proper packing and attachment of shipping marks on all cargoes in line with th
Chinese ports boost container volumes; Shanghai, Ningbo and Shenzhen remain on top Chinese ports have handled 270.6 million TEUs from January to November 2022, which represents a 4.2% increase compared with the same period in 2021. Additionally, in the first 11 months of 2022, the following Chinese ports reported over 14.3 billion tons, translating to a slight year-on-year growth of 0.7%. The chart below shows the cargo throughput and container throughput data of the twelve maj
FESCO launches new intermodal service from China, South Korea and Japan to Russia Fesco Transportation Group announced the launch of a new intermodal service connecting China, South Korea, Japan and Russia, as part of the expansion of the company's service network. The new product provides delivery of cargo by regular sea lines of the company to Nakhodka Sea Fishing Port in Russia from the Korean ports of Busan and Incheon as well as from the Chinese ports of Shanghai, Ningbo,
Port Houston announces daily fee for import containers to reduce long-term dwell Port of Houston has decided to implement a Sustained Import Dwell Fee that is expected to go into effect on 1 February. With this new fee, the US port aims to maintain fluidity at the Bayport and Barbours Cut Container Terminals and address long-term dwell. The US$45 fee will be charged per unit per day starting on the eighth day after the expiration of free time, as defined in Tariff No. 15 Subr
Luka Koper becomes first Adriatic port to exceed 1 million TEUs in a single year Port of Koper handled the millionth TEU of 2022 on 22 December, becoming the first port in the Adriatic to exceed one million TEUs in a single year. In the last two years, the Koper Container terminal in Slovenia has seen an intensive investment period, with a new extension of the quayside and additional stacking areas completed, while the latest improvement was the installation of two super post
Yang Ming executives hoping for retail restocking to boost long-haul demand Senior executives at Yang Ming Marine Transport held a media briefing to say that while the upcoming Chinese New Year has boosted fleet utilisation to nearly 100%, the outlook for early 2023 remains uncertain and shippers have sought to reduce contracted rates for long-haul lanes. The Taiwanese liner operator's chief financial officer Peter Su and chief commercial officer Frank Chang said that as
2022: A year of high volatility for global bunker market According to the weekly outlook of Marine Bunker Exchange (MABUX) for fuel prices, the global bunker market has been in a state of high volatility throughout 2022. MABUX noted a spike in bunker fuel prices in March 2022, triggered by the outbreak of the war in Ukraine, which continued until the end of June. Since the beginning of July, fuel prices have been in a stage of a downward correction. As
Frontline completes move to Cyprus John Fredriksen's Frontline has completed the transfer of corporate domicile from Bermuda to Cyprus. Shareholders approved the move on December 20, which recently became effective with a temporary redomiciliation certificate issued by companies' registrar in Cyprus. The move was one of the contitional steps toward combining with Belgium-based tanker firm Euronav. The new Cyprus-based Frontline ...
Edda Wind warns of newbuild delays Norwegian offshore wind service pure play Edda Wind has experienced further delays in newbuild deliveries, forcing the company to reschedule the start of their charter contracts. The Spanish-built commissioning service operation vessel (CSOV) Edda Breeze and service operation vessel (SOV) Edda Brint, which were set to start their long-term contracts with Ocean Breeze and Vestas ...
Korean yards bring in foreign talent Seoul has eased visa requirements for foreign shipyard workers as the nation embarks on a very busy couple of years to get through gigantic orderbooks. Samsung Heavy Industries welcomed 41 Indonesian welders to its workforce over the weekend, the single largest batch of foreign workers to come to South Korea since the government eased visa ...
CMA Terminals divests Russian holdings CMA CGM has come up with a deal to divest its interests held in Russian ports with Global Ports. The French liner is exchanging its 25% stake in Russia's Yanino Logistics Park and Moby Dik ocean terminal for an additional 25% stake in Finnish terminal operator Multi Link Terminal, which operates at the Port of ...
American Shipping Co and OSG locked in $4m legal battle over tanker redelivery Oslo owner says OSG worked to disrupt the return of one of its three product tankers last month
ChatGPT bot caught spreading misinformation on maritime law. Here's how Artificial intelligence is taking on a range of tasks previously restricted to human beings, such as telling lies
Tanker winning streak set to continue as Russia fuels super-cycle Slow shipping, low orderbook and Russia reshuffle likely to fuel bonanza
Car and gas carriers are Fearnley's top picks for 2023 Analysts at Fearnley Securities declare themselves 'bullish' on most shipping sectors - despite global recession talk
Avenir LNG reports loss in first quarter with full asset use Oslo-listed company counts on its flexible operations mode to weather 'highly volatile' gas markets
George Logothetis: After many bad times, came the good Lomar Shipping's bet on the container ship sector pays off big time
UN names Kuwaiti admiral to run the Black Sea Grain Initiative UN scheme to get grains out of Ukraine is piercing through the 700-ship mark
Edda Wind delays delivery of SOVs to charterers Listed offshore wind pure player is facing delays with the fitting of two vessels and the construction of a third
P&O Maritime: Offshore can play a strong role in shipping's green transition But oil majors need to do their part to back this up with appropriate contracts, say CEO Martin Helweg
China Merchants shipyard makes LNG debut with order for up to eight ships Jeppe Jensen-led Celsius Tankers paying around $235m each for the 180,000-cbm LNG carrier newbuildings
Indian buyers pay $24m for James Fisher dive support vessel UK shipowner's asset light strategy sees second vessel offloaded to Seamec
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