VIDEO: Norled puts hydrogen powered ferry into operation Norwegian green ferry pioneer Norled marked a world first today, putting a liquid hydrogen fuel cell powered ferry, the MF Hydra, into regular scheduled operation. Built by Norway's Westcon Shipyard and designed
Meyer Group unveils a concept cruise ship of the future The Meyer Group used this week's Seatrade Cruise Global event in Fort Lauderdale, Fla., to showcase not only some of its recent achievements but to give a glimpse of a concept cruise
WSF seeks bids for Jumbo Mark II hybrid-electric conversions Washington State Ferries (WSF) has launched an invitation for bid to convert its three Jumbo Mark II ferries from diesel to hybrid electric. The hybrid-electric conversions of the Jumbo Mark IIs is
CIMC sees lukewarm container demand in H1 2023 China International Marine Containers (CIMC) chairman and CEO Mai Boliang expects demand for new containers to be muted, at just 20% of that in conventional years. The head of the world's largest container manufacturer was speaking at a briefing on 28 March to announce CIMC's 2022 results, which showed net profit fell by 52% year-on-year to US$466.55 million, as the container shipping market norm
AD Ports invests in VTMIS technology to improve maritime safety AD Ports Group will roll out a cutting-edge Vessel Traffic Management Information System (VTMIS) across its activities in the United Arab Emirates (UAE) as part of its ongoing investment programme in innovative solutions to improve safety, security, and productivity. The new technology will be implemented at UAE's Khalifa Port, Zayed Port, Free Port, Musaffah Port and Al Dhafra region ports. Once
Antwerp Terminal Services and CMB.TECH introduce hydrogen dual fuel straddle carrier Antwerp Terminal Services (ATS), a joint venture between MSC PSA Europe Terminal (MPET) and PSA Antwerp (PSAA), launched the world's first H2 dual fuel straddle carrier in the Port of Antwerp. In particular, by using state-of-the-art H2 dual fuel combustion engine technology, developed by cleantech company CMB.TECH and integrated into a straddle carrier with the support of ATS, the machine runs o
Ammonia to be explored as marine fuel in US East Coast American Bureau of Shipping, A.P. Moller - Maersk A/S, Fleet Management Limited, Georgia Ports Authority, Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Savage Services, Sumitomo Corporation and TOTE Services agreed on a Memorandum of Understanding (MOU) to jointly conduct a feasibility study. These companies aim to establish a comprehensive and competitive supply chain for the provisio
New shipping partnership promotes biofuel use to reduce CO2 emissions A team of 17 companies aims to save 2,023 tonnes of CO 2 this year by providing several vessels owned by Samskip with biofuel. Companies that import or export their freight by vessel generally have little influence on the container shipping company's fuel choice and GoodShipping aims to change this with the 'insetting' concept. In December, the Port of Rotterdam Authority and GoodShipping announc
MSC rebrands Bolloré Africa Logistics Bolloré Africa Logistics (BAL), a multimodal logistics operator in Africa, revealed its new name. The business will now be known as AGL, which stands for Africa Global Logistics. MSC completed the acquisition of the operator in December 2022 and after three months has decided to change its brand. AGL logo AGL will operate as an independent entity and is part of the cargo division at MSC. With an
CMA CGM submits bid to take over Lebanon's postal services French shipping company CMA CGM has submitted a bid to take over Lebanon's postal services, according to the country's caretaker minister of telecommunications Johnny Corm. Rodolphe Saade-led container line seems to be the only firm to have lodged a bid to acquire the nation's postal service contract. The offer has been made by CMA CGM's wholly subsidiary, Colis Privé. As there are no other bids,
Part of the crew kidnapped in Monjasa tanker hijacking A pirate attack on a Monjasa tanker in the Gulf of Guinea resulted in the kidnapping of some of its crew members. The Liberian-flagged with 16 crewmembers was boarded six days ago by five armed people 140 miles (260 km) west of the Republic of Congo's Port Pointe-Noire. The 2003-built 13,700 dwt ship subsequently went ...
Odfjell Drilling clinches $290m semisub deal Oslo-listed semisub player Odfjell Drilling has inked two letters of intent with an undisclosed North Sea operator for the 2012-built rig . Both deals, if firmed up, would have a combined firm duration of 23 months and a value of about $290m, excluding integrated services, rig upgrades or mobilisation fees. In addition to the base ...
J. Lauritzen makes another offshore wind investment with Eneti stake Danish maritime investment company J. Lauritzen has made another investment in the offshore wind sector, having bought into Monaco-based shipowner and operator Eneti. "J. Lauritzen takes pride in supporting the growth of sustainable energy solutions, and we are excited to partner with Eneti to help fund this critical shift towards a more sustainable future. Together, ...
Marinakis in for LNG carrier duo Capital Gas has been revealed as the owner behind an order for two liquefied natural gas carriers at Hyundai Samho Heavy Industries. Korea Shipbuilding & Offshore Engineering (KSOE), the holding company of HSI, announced the deal with an undisclosed shipowner for 174,000 cu m units in a regulatory filing on Wednesday. Industry sources have linked ...
Oaktree cancels offer for stake sale in Torm after shares tumble Oaktree Capital Management has decided not to go forward with the stake sale in Torm after the shares in the Danish product tanker owner declined sharply on Thursday. The US private equity firm, which owns around 65% of Torm, was looking to offload 6% or 5m of its shareholding and grant a 30-day option for ...
Insurers brace for hefty claims from sunken Philippine tanker The International Oil Pollution Compensation Funds (IOPC Funds) and the Shipowners' P&I Club, the liability insurer of the sunken Princess Empress, have decided to open a claims submission office in Oriental Mindoro in the Philippines to facilitate the submission of thousands of claims for compensation. The Philippines is a party to both the 1992 Civil ...
CMA CGM lodges bid to run Lebanon's postal services French liner CMA CGM, via subsidiary Colis Privé, is the only company to have lodged a bid to take over Lebanon's postal services. Lebanon's caretaker minister of telecommunications Johnny Corm confirmed yesterday the offer made by CMA CGM to take over the nation's postal service contract CMA CGM took over last-mile logistics player Colis Privé ...
Newbuild VLGC to get bespoke rotor sails installed Finnish rotor sail manufacturer Norsepower has signed a contract to install two of its sails on a brand new very large gas carrier for Japan's Iino Lines. The ship, delivered today from Daewoo Shipbuilding & Marine Engineering, is ready to be equipped with two bespoke 20 m tall rotor sails side by side. The new, ...
Savannah set to be testbed for green ammonia bunkering American Bureau of Shipping, A.P. Moller - Maersk, Fleet Management, Georgia Ports Authority, Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Savage Services, Sumitomo Corporation and TOTE Services have announced the execution of a Memorandum of Understanding (MOU) to jointly conduct a feasibility study with the aim to be one of the pioneers in establishing ...
MSC debuts new African brand Mediterranean Shipping Co has rebranded new acquisition Bolloré Africa Logistics. The operator, bought for $6.3bn, will now be known as Africa Global Logistics (AGL) and is an independent entity, and part of the cargo division at MSC. "MSC is excited about the AGL brand reveal and will continue to invest in all its cargo businesses ...
The inexorable potential for rise in dry bulk exports from Africa Writing in a personal capacity, Captain. Pappu Sastry from Arise Shipping & Logistics gives readers insights into the fast changing dry bulk scene in Africa. Africa, with more than 50 countries, is as diverse as Asia when it comes to cultures, ideologies, and colonial history. Yet many try to encapsulate Africa as one entity when ...
Maryland aims to more than quadruple offshore wind capacity to 8.5 GW The governor of Maryland announced this week a new goal to expand the state's offshore wind capacity to 8.5 GW, up more than four times from the previous plan of 2 GW. This initiative will help the Atlantic Coast state reach its objective to achieve 100% clean energy by 2035. To support this effort, the ...
QatarEnergy grows its offshore exploration portfolio in Canada QatarEnergy has entered into a farm-in agreement with ExxonMobil Canada for two exploration licences offshore the province of Newfoundland and Labrador in Canada. Pursuant to the agreement, QatarEnergy holds a 28% working interest in licence EL 1167, where the Gale exploration well and associated activities are planned. ExxonMobil Canada (operator) holds 50%, while Cenovus Energy ...
Russia pushes back at IMO over ship-to-ship transfer crackdown Flag states have been encouraged to guarantee that tankers flying their flag carry out transfers in areas authorised by port...
Key Turkish port to receive first containership since earthquake The major containership port in Türkiye will start receiving larger containerships in May following the completion of repair works
Oaktree abandons Torm share sale after stock tumbles US private equity player Oaktree Capital Management sought to offload up to 5m Torm shares from indirectly owned OCM Njord...
Dark fleet: Out of mind, but not out of sight Hundreds of substandard, unclassed, uninsured vessels are routinely hauling Russian oil internationally while avoiding any serious oversight, so why are...
EU decision to recognise Filipino certificates gets backing of owners Filipino seafarers play a key role in European shipping, said head of European shipowners' organisation
Majority of tankers shipping Russian oil comply with price cap Callings in March showed Greek shipowners regaining market share to account for 42% of tonnage loading Russian oil
Wärtsilä pioneers boxship engine power reduction solution Retrofit solution is particularly suitable for large, mid-life containerships
IMO welcomes UN clarity on judicial sale of vessels 'It is only by finding answers to these challenges that ships will obtain best prices,' says Comité Maritime president
Inflation increases cargo theft risk The total number of cargo theft incidents has declined. But rising energy costs have seen fuel thefts increase, alongside a...
China Merchants rules out Hutchison Ports stake bid The assets put up for sale do not appear to be a good fit for China Merchants Port, deputy general...
'Now not the right time for IPO,' says Stolt Tankers chief 'We will wait for the right moment to go,' Lucas Vos tells Lloyd's List
Box ports clear congestion as demand falls Easing of supply chain crunch has given ports more breathing space. Terminal and capacity expansion plans still set to go...
The Ukraine effect: Black Sea trade one year on Chapter 5: Quite apart from the extraordinary creation of the grain corridor, Russia's invasion of Ukraine has had a profound...
Cosco Shipping reports record full-year net profit Near term challenges include intensifying competition in the sector, increasing capacity supply and rising cost pressures, says company
Some crew taken from hijacked tanker, says owner Vessel owners says pirates kidnapped some of the crew when they abandoned the tanker off Sao Tomé & Principe
Grain traders will stop handling Russian exports from July Viterra is also looking to transfer its business and assets in Russia to new owners and will update on progress...
Daily Briefing Princess Empress clean-up costs likely to hit IOPC Funds threshold | The Ukraine effect podcast: Shipping's shifting macro risk |...
Pavilion Energy completes LNG bunker operation with Sembcorp Marine Operation delivers 34 cu m of liquefied natural gas via trucks to a Sembcorp Marine vessel running on LNG
Gulf of Mexico oil and gas lease sale generates $264m Lease sale in Gulf of Mexico's federal waters generates $264m in high bids
MSC rebrands Bolloré Africa Logistics arm as AGL AGL, which has more than 21,000 employees in 49 countries, will continue to operate as an independent entity
APM plans to double container capacity at Rotterdam terminal APM said the new section of the terminal will operate with net-zero emissions and be fully automated and prepared for shore power installation.
Asia-USWC schedule reliability fell in February, bucking global trend eliability on the world's busiest trade lane, the trans-Pacific, remains well below the global average, with recent performance to the West Coast showing ongoing deterioration.
Cargo owners push for greater FMC regulation over rail storage fees NSAC says it supports reasonable detention and demurrage practices, but wants to correct "abuse" of the system by regulating that rail operators directly invoice ocean carriers for storage, not importers.
Cosco reports $19 billion profit for 2022, but outlook darkens A series of challenges lies ahead for the container shipping industry, but the effects of slowing demand and a surplus of capacity will be softened by a record financial performance in 2022.
Forwarders raked in record revenues in 2022 despite H2 demand collapse Historic highs in global freight volumes and rates in the first half of last year helped insulate third-party logistics providers (3PLs) from a market collapse in the second half.
Regulatory disconnect impeding progress on shipping decarbonization The pressure on regulators to put a price on carbon emissions is growing as carriers ramp up investments in zero-carbon ships, which make their brands appealing to environmentally conscious shippers but expose them to lower-cost competition.
Star Bulk Carriers rakes in $65m from sale of capesize duo Pair of 12-year-old bulkers said to be going to Danish operator Norden
Cosco container arm books record profit and backs China for 'stable' world order Company logs record profit of $19.2bn but warns of risks of western policies
'Extremely proud' Himalaya Shipping lists in New York as investors seize the supply story Initial public offering of shares in New York is three times oversubscribed thanks to compelling outlook for newcastlemax bulker market
Judge throws out $87m Yieldstreet claim in fight over Lakhani ship recycling finance US court dismissed fraud lawsuit by crowdfunder Yieldstreet against Four Wood Capital in a disastrous venture into ship-recycling finance
EU and Manila bury the hatchet over seafarer education standards Amid global seafarer shortage, shipowners have one thing less to worry about
Robert Uggla says box outlook 'bleak' after record profit for AP Moller Holding CEO of the company that controls AP Moller-Maersk and Maersk Tankers has a sombre warning for the container sector
Norwegian Hull Club to return $13.6m to members Move comes after another strong underwriting year
Clarksons values Stolt Tankers at $2.5bn as final IPO hurdles removed Analysts believe demand should be substantial demand for eagerly awaited spin-off later this year
Editor's Selection: Dacy urges caution, Li Li confesses to graft and Union Maritime swoops A look back at some of the stories that hit the headlines this week
MSC throws down gauntlet with 'integrated logistics' move in Africa Two largest liner operators step up their competition on the continent
Iino Lines to install Norsepower rotor sails on new VLGC Japanese owner opts for bespoke design to cut fuel use
Rise of the shadow fleet set to stall despite Russian production highs Russian oil output hits highest levels since start of the war in Ukraine, says data analyst
UK investor Mirabella builds stake in Awilco LNG to 20% Fund has steadily increased holding in Norwegian shipowner from 10% in 2020
CLdN offloads vintage ro-ro to Greece's Attica Group for €13.4m For the first time, Greece's biggest ferry operator buys a ship carrying cargo rather than passengers
Shipping giant Mitsui OSK Lines unveils ambitious business plan to 2035 Non-shipping and stable income sources will grow as company chases sustainability goals
Altera plots CO2 shuttle tanker newbuilds after winning storage deal off Norway Shipowner teams up with Wintershall to collect and transport gas from all over Europe
'Strong market': ADS declares option for 20% stake in Formosa VLCC Norwegian investment company first bought into the 2011-built tanker last year
Japan Club membership shrinks after supplementary calls Mutual insurer's figures show its entered fleet has been in decline since 2020
Hafnia's Skov flips options to bring share sales to $16m in a month Tanker company CEO has been cashing in on strong stock performance
Why the spike in global volatility is fuelling fires for shipping markets Volatility and shipping go hand in hand but the current uncoupling of global trade is rocking the boat
Troim's Himalaya Shipping prices New York IPO to raise $40.5m Newcastlemax owner to use cash to fund newbuildings and maintain liquidity
Three seafarers reported kidnapped as Monjasa tanker found by French navy Vessel located six days after it was boarded off the Republic of Congo
Union Maritime orders up to eight chemical tanker newbuildings at Fujian Mawei The methanol-ready newbuildings deal involved four firm ships costing more than $30m each
Anglo-Eastern denies 'fake news' in Indian death claims Hong Kong-based Anglo-Eastern denies reports that executives in India have been arrested over deaths of seafarers
'You owe us': Stolt-Nielsen tell clients to pay up or there will be no new ships Norwegian group's CEO explains to shippers exactly why rates need to rise even further
Oaktree drops Torm share sale plan after stock slumps Private equity giant said current market conditions were not conducive to the sale of up to 5m shares
Ship fuel cost way down from war peak, but 'green' fallout looms Surging costs after Russia's invasion of Ukraine could be a taste of things to come as shipping transitions to more expensive "green" fuels.
Amerijet offshores accounting functions to Trinidad and Tobago Freighter operator Amerijet is moving back-office functions from Miami to Trinidad and Tobago.
Lufthansa promotes marketing chief to lead cargo division Lufthansa promoted its top marketing executive to head the cargo subsidiary one week after moving the CEO to another group airline.
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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