Navantia will retrofit Spanish Navy flagship with Azipods ABB has secured a breakthrough from Spanish state-owned shipbuilder Navantia that will see the Spanish Navy's flagship, the LHD Juan Carlos I, retrofitted with an electrical propulsion system based on dual ABB
Bollinger to refit NOAA's largest ship Bollinger Shipyards has begun fabrication work at its newly acquired Mississippi repair facility, Bollinger Mississippi Repair, in preparation to refit the National Oceanic and Atmospheric Administration (NOAA) ship Ronald H. Brown. At
Global Freight Monitor: Container freight rates hit a speed bump The Shanghai Containerised Freight Index (SCFI) turned negative following four weeks of stable or rising rates: SCFI dropped 3.6% week over week after four weeks of rising or stable rates, implying an overhang from the uncertain demand situation. The SCFI is now only 29% above the 2019 level. Transpacific carriers announced a General Rate Increase (GRI) effective 15 May 2023. However, we think mo
Increased box traffic at Saudi Ports The Saudi Ports Authority (Mawani) marked an increase of 17.57% in container volumes during the first quarter of 2023, scoring a throughput of 2,011,162 TEUs compared to 1,710,608 TEUs last year. Additionally, quarterly container statistics show a 16.08% spike in exported TEUs with a total of 559,829 TEUs. Imported containers saw year-on-year growth of 22.43% climbing to 637,277 TEUs. Meanwhile,
Port of Montreal and HAROPA Port renew cooperation agreement The Port of Montreal and HAROPA Port renew their agreement aiming to strengthen the trade corridors between Canada and France. In order to consolidate their relationship, engage in deliberations, initiate actions and promote mutually beneficial approaches, the two port authorities signed their international cooperation agreement, which focusses on the following five pillars. The first one is comm
Port of Long Beach embraces CARB rules for locomotives and trucks The Port of Long Beach supports California Air Resources Board's (CARB's) new guidelines, which reflect and complement the San Pedro Bay Clean Air Action Plan, which was updated in 2017. CARB's measures will support efforts to bring cleaner locomotives to the port's region and mandate zero-emissions trucks by 2035, and the CAAP's initiatives will bolster efforts and provide better air to all Cali
Three seafarers missing after tanker blast Three seafarers are missing after an explosion on an Aframax oil tanker off Malaysia's southern coast in the South China Sea on 1 May. The blast reportedly happened on the 1997-built 96,800 dwt Pablo around 2.40 pm (local time), causing the 28-man crew to abandon the Gabon-flagged vessel. Vessel-tracking data shows that Pablo had been moving around Zhoushan, China, since February, before sailing
The Digital Era of Shipping: WaveBL's Blockchain-based Solution for the Legal and Sustainable Transition to eBLs The shipping industry is currently focusing on transitioning from the traditional paper-based bill of lading (BL) to the electronic form of this document. The BL represents the transfer of ownership of goods from a seller to a buyer and serves as a legal contract. It functions as both a receipt of shipment and a legal document that entitles the holder to claim the goods described in the BL. The p
MSC unveils new service to connect key ports in China and India The world's largest container line MSC adds a new inter-Asia service, called Shikra, between major ports in China and India. The new Shikra service will be operated solely by MSC and is named after the small bird of prey that inhabits much of Southeast Asia and India. Starting with MSC Mara on voyage QS321A, with an estimated time of arrival at Qingdao port on 23 May, the rotation will be as foll
Ports of Rotterdam and Mannheim ink logistic partnership deal The ports of Mannheim and Rotterdam will expand their collaboration in the next years to make the logistics chain between the two ports more sustainable and digital. Uwe Köhn, port director of Hafen Mannheim, and Matthijs van Doorn, commercial director of the Port of Rotterdam Authority, have signed a memorandum of understanding (MoU) to strengthen these ambitions. The German port of Mannheim por
Dredger capsizes after colliding with tanker, three crew members dead Three crewmen are dead and another two are missing after a suction hopper dredger capsized after colliding with a tanker in the Philippines on 28 April. According to the Chinese embassy in the Philippines, the Sierra Leone-flagged Hong Hai 189 was working in waters around Corregidor island in Bataan province and was manned by 20 crew members, comprising 16 Chinese nationals and four Filipinos. Th
AD Ports Group enhances its fleet with crude oil tankers and bulk carriers AD Ports Group has announced plans to increase its fleet by purchasing five bulk ships and three crude oil tankers. These vessel purchases will complement the recently inked agreements as part of the Group's strategy for worldwide expansion aiming to strengthen the shipping division within AD Ports Group's Maritime Cluster. The five bulk carriers, which will be purchased for US$125 million, are p
Eneti clinches more contract work for Seajacks vessel Monaco-based owner and operator of offshore wind vessels Eneti announced that its subsidiary Seajacks has secured a new contract for one of its self-propelled jackup vessels. The contract is for one of the three NG2500-class vessels Seajacks Hydra (pictured), Kraken or Leviathan in Northwest Europe, starting in the fourth quarter of 2023. The vessel will ...
Pangaea acquires terminal operations in Florida and Maryland Pangaea Logistics Solutions has entered into a definitive agreement to acquire marine port terminal operations in Port Everglades/Fort Lauderdale and port of Palm Beach in Florida, and the port of Baltimore in Maryland from Host Terminals, a subsidiary of T. Parker Host, in an all-cash deal. The Nasdaq-listed US bulker owner of 25 ships, operates ...
California approves banning new diesel trucks at ports from 2024 The California Air Resources Board (CARB) approved the measure called Advanced Clean Fleets, which would prohibit the sale of all new medium and heavy-duty vehicles by 2036 and ban new diesel trucks from ports and railyards from next year. The new regulation applies to local, state and federal government vehicles as well as fleets owned ...
D'Amico takes back another MR tanker Italy's d'Amico International Shipping has exercised a purchase option on a bareboat chartered-in MR product tanker . The 49,990 dwt ship built in January 2016 by Hyundai-Mipo in South Korea comes at a price of around $22.2m, but d'Amico said the final purchase price may vary slightly depending on the vessel's actual delivery date, which ...
Sea/ buys Marcura's MarDocs Clarksons-backed digital shipping platform Sea/ has agreed to take over MarDocs, a recap and charter party management platform, from Dubai-based Marcura. The UK-based operation said the move will allow it to further accelerate its progress in digitising and managing chartering workflows from pre-fixture negotiation to documentation. "Sea now bridges the documentation gap in the industry, ...
Ziton seals long-term vessel deals with Siemens Gamesa Danish offshore wind specialist Ziton has struck strategic agreements with Siemens Gamesa, extending the current charter deal it has with the wind turbine maker and adding a new charter for another to-be-acquired jackup vessel. The current charter of the 2011-built , with options until June 20, 2025, will be extended by four and a half ...
Reach Subsea scores new offshore wind contract Oslo-listed offshore services player Reach Subsea has been awarded a five-month contract with an undisclosed offshore wind energy major. The deal, which comes with options, will see the subsea vessel utilised on the project, in early May 2023. Reach last summer signed an agreement to charter the ship for four years with an option to ...
Shipbuilding prices add to growing US offshore wind costs The increased cost of building Jones Act vessels is one of several factors contributing to rising project costs in the US offshore wind industry, according to research carried out by analytics firm Intelatus Global Partners. Intelatus has found that the price to build service operation vessels (SOVs) for the US offshore wind market comes with ...
Subsea 7 wins Gulf of Mexico contract with LLOG Oslo-listed offshore contractor Subsea 7 has sealed a deal worth up to $150m with Louisiana-based LLOG Exploration Offshore, for the Salamanca development project, which includes the Leon and Castile fields, in the US Gulf of Mexico. The contract scope includes the installation of three infield subsea pipeline systems, as well as the design and fabrication ...
Valaris reveals fresh deals and extensions New York-listed offshore driller Valaris has secured new contracts and contract extensions for a pair of its jackups and floaters. In Brazil, TotalEnergies exercised an option for the 2014-built drillship Valaris DS-15, keeping the rig under contract through the second quarter of 2024. The optional period is for around 100 days at a dayrate of ...
Maritime CEO Forum: Geopolitics driving dry bulk towards a super cycle? Geopolitics were to the fore in the concluding dry bulk session at last week's Maritime CEO Forum, held at the Fullerton Hotel in Singapore. Debate about the likelihood of another dry bulk super cycle divided panellists and delegates alike at the exclusive by-invite-only shipowner gathering. "There are a tremendous amount of geopolitical challenges," said moderator ...
Owners face severe yard bottleneck Shipowners face a severe shipyard bottleneck if they want to source prompt delivery slots from yards in Asia, a situation that is set to worsen in the coming months. Analysis from multiple broking and banking sources show that available delivery slots have all but dried up for 2025, and are rapidly disappearing for 2026 too. ...
Tanker with history of moving Iranian oil catches fire off Malaysia The risk of casualties from the growing so-called dark fleet has manifested in Southeast Asia again where an aframax tanker caught fire in Malaysian waters with three crewmembers missing. The 1997-built , a ship which has changed hands three times in the last couple of years, issued a distress call yesterday afternoon after a blaze ...
Heroic Idun crew released from Nigerian jail after nine-month ordeal After nine months of incarceration, Nigeria has finally released the crew of the VLCC , who were accused of attempting to lift oil from an offshore platform and held without bail since last August. The Marshall Islands-flagged tanker and its crew were arrested by Equatorial Guinea forces over alleged crude oil theft, and then returned ...
Cambodia starts work on tripling its box handling capacity by 2029 Cambodian prime minister Hun Sen was guest of honour yesterday for the groundbreaking of a major new container terminal expansion at the kingdom's main port. Sihanoukville Autonomous Port is developing a three-phase expansion through to 2029 to allow larger ships to call at the country, one of the region's fastest growing economies. "The expansion project ...
Port of Aberdeen spending $69m to become UK's first net zero port The Scottish port of Aberdeen is targeting net zero emissions from vessels visiting the port, as well as the port's own operations, by 2040m, announcing plans to spend £55m ($69m) over the next 10 years to become the UK's first net zero port by 2040. This means targeting net zero emissions from vessels visiting the ...
AD Ports enters tanker sector Rapidly expanding AD Ports Group from Abu Dhabi has entered the tanker sector as well as bolstering its dry bulk fleet. The company announced yesterday the purchase of five bulk carriers and three crude oil tankers. The five bulk carriers form part of the long-term agreement with Saif Powertec, signed in April 2022, for the ...
Entire dry bulk supply chain set to meet at Geneva Dry To date, there has been no single, global dry bulk event where miners, traders, commodity giants, shipowners, operators, managers and tech providers get together under one roof to thrash out deals and make important collaboration agreements. This is set to change with the creation of Geneva Dry, a high-level summit for the entire dry bulk ...
Dark fleet tanker Pablo changed flags six days before fatal casualty Multiple switches of flag, class, registered owner and name changes were among the red flags to forewarn any regulator or...
Greece shipping ministry 'warned of Iran risk' days before tanker hijack Warning provoked exodus of 'unusually high number of Greek-flagged vessels' from Middle East Gulf region, claims maritime security company Ambrey
Scorpio increases dividend and eyes more debt reduction Product exports and tonne-mile demand expected to outpace supply over the next two years, company says, while a historically low...
Three seafarers missing from bulker boarded off Gabon Although there has been three incidents in the Gulf of Guinea in quick succession there is no indication that random...
IMO fails to make progress on Arctic black carbon emissions Clean Arctic Alliance calls for tangible proposals for mandatory action
Karpowership sets out five-year fleet expansion plan Owner of 36 floating electricity-generating vessels plans to increase its capacity in the coming years by converting new ships at...
Between the lines: Fourth-quarter performance shows signs of carrier weakness A stellar financial performance last year was clouded by a significantly weak fourth quarter, as demand waned and average freight...
The week in charts: Kerch Strait dark activity rises| No immediate risk to shipping from Sundan unrest | Tanker newbuild orders at two-year high Draught restrictions have not disrupted Panama Canal traffic, containers continue to reach Ukrainian markets despite port closures, and newbuilding contract...
LNG rates to bottom out this quarter, Drewry says The first quarter of the year saw a softening in rates because of a mild winter and low industrial activity...
China's high oil demand era nearing an end, says analyst Reopening of the country has released pent-up demand from the lockdown period, especially in the service sector. Growth picture remains...
SAIC Anji Logistics orders car carriers in fleet expansion Each 9,000 ceu newbuilding is estimated to cost $96m
The week in newbuildings: Evergreen in tender for methanol-fuel ULCS series Up to 24 dual-fuel methanol ultra-large containerships are in the pipeline for world's sixth-largest boxship operator
Port of New York and New Jersey in 'strongest position in decades' despite cargo dip Largest east coast port handled 8.2% less cargo than its five-year first-quarter average, but was the second busiest port in...
Vessel collision in Philippines leaves three dead No oil spill has been detected following incident on April 28
Seatrium and ABS to develop smart yard initiatives Joint development programme includes remote inspection using smart glasses with 5G technology to enhance the surveys during and after the...
GRI attempts yield partial recovery success for India-US carriers Forwarders generally believe the limited GRI gains that have been achieved or are anticipated in the coming weeks on the India-US trades will be short-lived unless more capacity is withdrawn or a large increase in volumes occurs.
Drayage rates fall sharply amid downturn in NY-NJ port volumes New York-New Jersey port truckers who worked five days per week last year are now down to about half that amount, sending spot drayage rates well below levels seen in 2021 and 2022.
TFI targets smaller LTL carriers for acquisition in US, Canada Canada's largest trucking holding company is acquiring smaller LTL operators on both sides of the US border, expanding its network and services via "tuck-ins" in a soft freight market.
Diana fixes capesize bulker to Glencore's ST Shipping for one year Athens-based shipowner last fixed a capesize on a long-term fixture in January
Diana Shipping sells 75% of ultramax bulker to Norwegian company New York-listed bulker owner sells majority stake in vessel as it forges charter to IMC Shipping
Euroseas has 'action plan for every scenario', chief executive says Aristides Pittas does not like to make predictions, but he wishes company shares were valued higher
Seized tanker watch: Suezmaxes detained by Iran and US re-emerge in predictable locations The Suez Rajan is heading northwest toward what is expected to be US shores, while the Advantage Sweet is detained at Iranian port
Comment: Seizing Iranian oil cargoes is one thing divided US lawmakers can agree on Reported seizure of the Suez Rajan breaks a lull in such actions by US officials. A bipartisan group of lawmakers is hungry for more
Cheniere Energy signs new LNG sales deal for shipments into 2047 Producer breaks record on LNG cargo exports during first quarter with 80% going to Europe
Greece's Naftomar doubles money on sale of older LPG carrier Heady market sets the stage for plenty of dealmaking, which includes a remarkable asset play
Blazing tanker was repeatedly de-flagged over Iran claims The Pablo went through four names and four registries in the last two years over alleged links to sanctioned oil trades
Decarbonisation and safety should go 'hand in glove', class societies urge IMO Call comes as the regulator is set to accelerate its efforts to decarbonise shipping
Harry Vafias' StealthGas linked to sale of LPG carriers to start-up Toro Corp Brokers identify Greek shipowner's quartet as comprising first purchase for Castor Maritime spin-off
'Staggering' Guyana expansion set to boost tankers as ExxonMobil adds project US oil major set to take production to more than 1m barrels per day from South American country
Japanese tonnage providers build up gas investments with bareboat deals Investment in high-value sale and leaseback deals is helping owners grow in fast-expanding market
NYK Line named as shipowner behind LNG order quartet in HD KSOE gas carrier haul Ships inked against berths pre-reserved for German utility EnBW term charter requirements
UK government wants to buy 10 cruise ships and ferries to house asylum seekers Home Office plans acquisitions to accommodate new arrivals
TMV launches another round of maritime start-up investment with Secro seed funding Co-founder Marina Hadjipateras is said to be focusing more on maritime roots in third fund by venture capital firm
Clarksons' Sea/ expands again with MarDocs acquisition and Marcura alliance UK vessel-fixture platform snaps up charter management service from Marcura
Wartsila and DNV connect fleet and data platforms Partnership of Fleet Optimisation Solution and data cloud system Veracity aims to make emissions compliance reporting more efficient
Shell delivers first LNG cargo to US Navy in Guantanamo Bay on Avenir vessel Shipment expected to be used to supply US naval power plant
Danish Ship Finance sees strongest tanker outlook for decades Low orderbook and longer hauls are the key drivers behind positive predictions for 2023
Purus confirms LPG carrier splurge as it agrees options UK-based shipowner could be spending more than $420m on new midsize ships in South Korea
Dynagas bumps up raft of super-size LNG carrier orders at Hyundai But delivery dates show choices are slimming as newbuildings continue to pile in
Messina buys boxships and sells conros in tilt to container sector Italian operator is substituting conros with container ship purchases worth over $50m
d'Amico buys back chartered MR tanker for $17m below market price Italian shipowner continues to take advantage of bargain purchase options in bareboat charters and leases
Brian Lee retiring as Scorpio Tankers chief financial officer after 13 years Veteran finance man followed Robert Bugbee from the old OMI Corp, to be replaced by in-house accounting officer
Scorpio Tankers lines up monster $1bn lending to hasten lease payoffs Company beats earnings estimates, hikes dividend and bids farewell to longtime chief financial officer
Singapore plays down talk of ammonia bunkering trials within 2023 MPA says timeline is not realistic and does not represent the views of the government
Why two liner giants are going their own ways Not only have alliance partners MSC and Maersk split, they are taking radically different strategic paths
Price rises may be needed to give yards capacity for new tankers, Clarksons says Analysts argue current slots are not sufficient to replace ageing ships and meet growing demand
WFW promotion round elevates five shipping lawyers to become partners Law firm rewards experts in London, Tokyo, Seoul and Madrid
Fortescue Metals Group aims to have its VLOCs running on ammonia by 2027 Mining giant puts flesh on the bones of plans announced in 2021
Scotland's North Star explains how to fund expensive wind ships in volatile debt market Track record is important in securing loans and equity finance, Scottish shipowner says
Itochu bulker holed as barges break loose in Parana River Japanese handysize's hull punctured near the waterline in Argentina
IMO pushes Arctic black carbon measures back to 2024 Inaction attacked as a dereliction of duty by alliance of clean Arctic NGOs
Advantage Sweet seizure signals US-Iran tensions simmering once again BRS Group says negotiations over the scuttled nuclear deal have largely failed, making the Middle East a hotspot for shipping once again
Dynagas bumps up raft of supersize LNG carrier orders at HHI But delivery dates show choices are slimming as newbuildings continue to pile in
Golar LNG teams with Nigerian National Petroleum Company on FLNG Is this mystery next LNG carrier-to-floating LNG production unit conversion for Tor Olav Troim's company
Maltese cargo damaged after grounding in Greece Master and crew member face charges after incident off Rhodes
Three crew members kidnapped from Eagle Bulk supramax anchored off Gabon Security companies say Glebe Bulker attacked 4.7 nautical miles off Owendo
Strong Russian trades point to improved clean tanker rates, says Gibson Longer voyages from Baltic ports has put the squeeze on tonnage for the conventional non-Russian fleet
Samudera Shipping shares decline over 8% after profit warning Indonesian liner operator blames softening of freight rates and weaker volumes for profit decline
Three crew members missing after aframax tanker catches fire off Malaysia Crude carrier had 28 seafarers on board
Three crew members kidnapped from bulk carrier anchored off Gabon Security companies say unnamed vessel attacked 4.7 nautical miles off Owendo
Acta Marine signs up methanol newbuildings for wind work with RWE Dutch owner ties up two SOVs for 12 years in the North Sea
UK's Union Maritime bumps up orderbook with fresh bulk carrier newbuildings Laurent Cadji-led company has signed four contracts with four shipyards over the past two months
Frontline chief executive Lars Barstad's pay tops $1m after profit soars But director and main shareholder John Fredriksen banks less from sitting on the board
Sovcomflot pays off $377m of Russian bonds but still cannot settle Irish debt Sanctioned Russian state shipowner has been swapping eurobonds for domestic paper
Lomar resumes bulker acquisitions with triple supramax strike Canny S&P player acquires its first bulkers in more than a year
Pangaea Logistics ramps up terminal presence with deals in Florida and Maryland Rhode Island company ventures into new markets where existing customers already have business ties
AD Ports Group splashes out $260m on tanker and bulker buys UAE-based company reveals it has acquired five bulk carriers and three crude oil tankers
Singapore plays down talk of ammonia bunkering trails within 2023 MPA says timeline is not realistic and does not represent the views of the government
Pangaea Logistics ramps up terminal presence with deals in Florida, Maryland Rhode Island company ventures into new markets where existing customers already have business ties
Crowley and CN partner on new Mobile-Mexico ocean service Maritime and logistics services company Crowley and Canadian railway CN have joined in a new service that will connect Canada, the Midwest and the Gulf Coast of Mexico.
As oil tumbles, marine fuel gets cheaper - and so do tanker stocks The price of crude oil is now lower than it was when OPEC announced its latest cuts, fueling more concern on tanker demand.
From windfall to sustainable profit for Kuehne+Nagel, DSV Two of the world's largest third-party logistics providers consider the glass half-full despite a substantial drop in profits.
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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