free news

web site

NOVEMBER 3, 2023

Allcargo Group launches "LogicOn" with its knowledge partner IIM Mumbai Exim Integrated Club holds its 1st Annual General Meeting B. Kasiviswanathan takes charge as new Chairperson of Cochin Port Authority India mulls purchasing cheap Venezuelan crude oil Middle East conflict seen pushing up commodity prices: World Bank India okays 110 laptop import applications GST collections up 13 pc in Oct.

free news

web site

NOVEMBER 3, 2023

Normal operation expected for September 2024 Cooperation with customs authorities fosters trade Korean partnership to reduce CO2 in shipping Air cargo demand turns a corner in Asia Pacific An e-mobility partnership Connecting sea and air in Hong Kong A change of leadership at Qatar Airways Group Haaren Group: new ship management service Converted locomotive to serve US port A Happy acquisition First Airbus A321 P2F for Indigo The race begins Electronic payment services for seafarers "Curiosity of the Day" Driverless truck service to launch in Texas Using tech for supply chain transparency Almost 200 horses under the hood ACS to expand in Australia

free news

web site

NOVEMBER 2, 2023

Threat to contract rates as carriers fail to boost spot market prices Garment factories set on fire as Bangladesh workers demand 'living wage' CH Robinson - now roll the dice 'Daylight robbery' - Fury at huge hike in terminal fees by DP World Australia Flexport + Convoy's tech stack - listen to the pros, not the bros Polar Air Cargo fraud scandal: forwarder set to change plea to guilty Asiana agrees sale of air cargo business, paving the way to merger with KAL 2024 a 'year of consolidation' among SME forwarders, as M&A kicks off Flexport confirms a 'modest' sum paid for Convoy tech

free news

web site

NOVEMBER 2, 2023

Maersk Supply uses Inmarsat API to optimize performance of battery-fitted AHTS An Inmarsat Maritime solution will help Maersk Supply Service optimize the performance of its first vessel fitted with a battery installation, the AHTS Maersk Minder, and to evaluate how best to optimize Windcat opts for Schottel propulsion for hydrogen-fueled CSOVs The first three in the series of hydrogen-fueled Commissioning Service Operation Vessels (CSOVs) ordered at Damen Shipyards by CMB Group's offshore personnel transfer subsidiary Windcat (see earlier story) will feature full Schottel Philly Shipyard: NSMV training ships will be a loss maker No doubt about it, the contract to build the National Security Multi-Mission Vessel (NSMV) training ships was a life-saver for Philly Shipyard when it was awarded in Ap

free news

web site

NOVEMBER 2, 2023

Hapag-Lloyd increases rates from Indian Subcontinent to US East and West Coasts Hapag-Lloyd has announced a new General Rate Increase (GRI) / General Rate Adjustment (GRA) from India, Pakistan, Sri Lanka and Bangladesh to the United States East Coast and West Coast. The rate increase of US$200/box will be applied to cargo transported in 20' and 40' dry, reefer, and special containers, including high cube equipment. The updated rates will be effective from 1 December until fu Port of Tyne goes live UK's first site-wide private network The Port of Tyne, in collaboration with BT and Ericsson, has launched a groundbreaking 4G and 5G private network, making it the first smart port in the United Kingdom to deploy site-wide standalone connectivity. In particular, the private 5G wireless network will enable various applications, including autonomous vehicles, survey drones, smart surveillance, artificial intelligence (AI) and extende AD Ports to use RightShip's digital tool AD Ports Group has decided to deploy RightShip's Maritime Emissions Portal (MEP) in its portfolio of worldwide ports. MEP is a digital solution that combines Automatic Identification System (AIS) vessel movement data with RightShip's vessel insights. The solution calculates ships' emissions within port and terminal facilities and highlights opportunities to reduce environmental impact. MEP gives Prince Rupert Port Authority starts building of new logistics facility The Prince Rupert Port Authority is commencing construction on its largest infrastructure investment. The Ridley Island Export Logistic Project (RIELP) is a large-scale transloading and logistics facility designed to provide expanded transloading capacity and capabilities at the Canadian port. The project will consist of a 440,000m² greenfield development on Ridley Island. The facility, which wil Kalmar to equip Kingston Freeport Terminal with new hybrid straddle carriers Finnish port equipment manufacturer Kalmar has recently finalised a deal to provide Kingston Freeport Terminal Limited (KFTL) with a dozen hybrid straddle carriers. The new machines are scheduled to be delivered at the Caribbean port by the second quarter of 2024. Established in 2015, KFTL is a transshipment hub in the Caribbean and operated by Terminal Link, a joint venture between CMA CGM and C Schedule reliability improves, Maersk and Hamburg Süd top rankings Sea-Intelligence published issue 146 of the Global Liner Performance (GLP) report, which includes schedule reliability figures from January to September 2023. "Source: Sea-Intelligence.com, GLP Report, issue 146" According to the analysis, in September 2023, global schedule reliability rose by 1.2% points M/M to 64.4%. Apart from the May incre CMA CGM to introduce new peak season surcharge in Dakar port Marseille-headquartered box carrier CMA CGM will implement a peak season surcharge (PSS) from North Europe, Mediterranean, North Africa, North America, Latin America, Middle East and Indian Subcontinent to the port of Dakar in Senegal. The surcharge will be €200/GB£175/US$210 per container and will apply only to dry cargo. CMA CGM will start implementing this surcharge from 13 November until furt Maersk Supply Service chooses Inmarsat fleet data API to improve battery-optimised vessel performance Maersk Supply Service has chosen Inmarsat Maritime's Fleet Data Internet of Things (IoT) platform to help optimize the performance of its first vessel battery installation onboard the Maersk Minder Offshore Supply Ship, in a solution that will also allow the vessel owner to evaluate how best to optimize the use of zero-emission energy storage systems across its fleet. An end-user API collects dat NWSA receives a US$54 million grant for Husky Terminal expansion The Northwest Seaport Alliance (NWSA) will receive a US$54 million grant from the Port Infrastructure Development Program (PIDP). NWSA said it will use the funds to expand the Husky Terminal in South Harbor, improving its gateway's competitiveness and regional job prospects. The project is expected to improve cargo transportation safety, efficiency, and reliability while also meeting the gateway' SCFI registers two digit jump The composite Shanghai Containerized Freight Index (SCFI) closed at 1,012.6 points in Week 43, surging 10.3% from the previous week and remaining on an upward trend for the third week in a row, while the index exceeded the 1,000-point line for the first time since early September. Shipping capacity adjustments by carriers caused more significant space shortages on the trade lanes to North America Battery-powered locomotive to serve JAXPORT A Jacksonville Port Authority (JAXPORT) facility, the Talleyrand Marine Terminal, is soon to introduce an eco-friendly locomotive into its service fleet. This locomotive is part of a batch of eight nationwide that is undergoing a conversion process from diesel-powered to battery-powered. The transformation is made possible thanks to funding from Watco Rail Services, a company based in Kansas, and Wärtsilä 31DF engine reduces methane emissions by an additional 41% Finnish technology company Wärtsilä has unveiled an enhanced, environmentally friendly iteration of its highly efficient Wärtsilä 31DF engine. When powered by LNG, this updated model can significantly reduce methane emissions by as much as 56% and nitrogen oxide (NOx) by up to 86% at a 50% load point. On an overall average, this cutting-edge technology can lower methane emissions by 41% more than MOL, Pyxis partner on EV development and market expansion in Asia Mitsui O.S.K. Lines (MOL) and Pyxis Maritime have inked a Memorandum of Understanding (MoU) to partner on the joint creation and promotion of electric vessels (EVs) in the Singapore region, as well as marketing for the expansion of EVs introduction in Japan. MOL and Pyxis will combine MOL's maritime expertise, market networks, and industry understanding as a shipping company with Pyxis' agility a

free news

web site

NOVEMBER 2, 2023

Navios Partners in for more tanker newbuilds Greece's Navios Maritime Partners is strengthening its tanker fleet with a deal for four aframax/LR2 newbuilds. The Angeliki Frangou-led diversified shipowner revealed in its quarterly earnings that it would add the quartet in 2026. The ships should deliver during the first half of 2026 and the first half of 2027. The New York-listed firm is ... Okeanis Eco Tankers applies for US dual-listing Greek owner Okeanis Eco Tankers (OET) has set its sights on a dual listing that would see it float in New York along with Oslo. The Alafouzos family vehicle, listed in Oslo in 2018, boasts a fleet of six suezmaxes and eight VLCCs. The NYSE listing is expected Okeanis Eco Tankers to change its listing ... Diana Shipping fixes out bulker to Western Bulk Carriers Greek bulker owner Diana Shipping has entered into a time charter contract with Western Bulk Carriers for one of its ultramax dry bulk vessels. The New York-listed company said that it won a charter for the 2015-built, 60,309-dwt . The gross charter rate is $12,500 per day, minus a 5% commission paid to third parties, ... Euronav lifts VLCC purchase option Euronav has taken back full ownership of one of its VLCCs it had under a sale and leaseback deal in China. The Antwerp-based dual-listed tanker giant had exercised an option to repurchase the 2008-built Nectar. The 307,000 dwt ship was sold and chartered back with two other VLCCs in December 2019 on a 54-month bareboat ... Africa Finance Corporation sells Takoradi Port stake to Yilport African development finance institution Africa Finance Corporation (AFC) has sold its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana's Takoradi Port, to port operator Yilport Holding. In 2019, AFC committed to invest up to $138m in equity and debt for the Takoradi Port Expansion Project. The project, ... Capesize valuations follow spot market declines S&P brokers have been watching with eagle eyes to see if the dramatic fall in capesize rates - down nearly 50% from year-highs of $30,000 in the space of 10 days - will translate into falling prices for secondhand capes. Buyers and sellers have been watching what the 14-year-old, 180,000 dwt Ocean Corona, built at ... Havila Shipping seals another Equinor PSV extension Norwegian OSV owner Havila Shipping has secured another vessel contract extension with Equinor. The Norwegian energy major has fixed the 2012-built platform supply vessel Havila Charisma until mid December 2024 and has three more one-year options to keep the vessel until mid-December 2027. Equinor also recently extended the charter for the 2008-built Havila Foresight by ... Singapore's Megamas reveals plans for two cable ship newbuilds Singapore's Megamas Resources has moved to build two modern and fuel-efficient cable laying and repair vessels. In partnership with Renaissance Technologies (RTM), the company has tapped Norway's Ulstein Design & Solutions for the newbuild vessel design capable of laying and maintenance of both subsea fibre-optic telecommunication cables and power cables, covering the inter-array and export ... Boomsma Shipping and Leonhardt & Blumberg link up for up to eight newbuilds in India Dutch owner Boomsma Shipping and Germany's Leonhardt & Blumberg Shipmanagement have teamed up to order a series of up to eight low-emission shortsea dry cargo vessels at Chowgule Shipbuilding in India. Chowgule will build the 8.500 dwt vessels, developed in cooperation with Dutch designer Conoship, at its new shipyard in Mangalore, which will start production ... IAPH picks Hamburg Port Authority CEO for president role The International Association of Ports and Harbors (IAPH) has appointed a new president and made changes to its board. The Board is formed by the president and six vice presidents and has general authority to establish broad principles and objectives of IAPH and to make any decision regarding its operation, financing and structure. Hamburg Port ... Court puts Barossa gas export pipeline work on hold Australian energy major Santos has been given an interim injunction by the Federal Court of Australia to prevent it from laying the Barossa Gas Export Pipeline (GEP). This decision to block the Barossa pipeline laying until November 13, 2023, is in connection with an application by Simon Munkara seeking an order that Santos revise and ... Hayfin signs for methanol-ready suezmaxes in South Korea Hayfin Capital Management has placed an order for up to four methanol-ready suezmax tankers in South Korea. The UK alternative investment platform with around $32bn assets under management has contracted HD Hyundai, formerly known as Hyundai Heavy Industries, for two firm vessels worth about $171m, according to a stock exchange filing by HD Korea Shipbuilding ... World's first ammonia-powered boxship set to deliver in 2026 Yara Clean Ammonia, part of Norwegian ammonia and fertilizer manufacturer Yara, and fellow liner operator North Sea Container Line have joined forces to deliver the world's first containership that will use pure ammonia as fuel. From 2026 the ship named Yara Eyde will operate between Oslo, Brevik, Hamburg and Bremerhaven. "The green journey started with ... Costamare ships out elderly supramaxes Greek owner Costamare has disposed of two older supramax bulkers as part of the company's fleet renewal move. The New York-listed firm is offloading the 2006-built Peace, with the 55,709 dwt ship expected to change hands in the fourth quarter of this year. Further transaction details were not revealed, but S&P databases suggest the BWTS-fitted ... Lula deploys the army at top ports in battle with cocaine gangs The dire crime situation at Brazil's top ports has forced the nation's president to deploy the army. Luiz Inacio Lula da Silva announced yesterday that the army would be brought in to aid security at the nation's top ports and airports for an initial period of six months. The ports are Santos and Itagui, conduits ... Tanger Med, East Port Said added to EU's upcoming emissions regulations To reduce the risk of evasive port calls and relocation of container transhipment activities to ports outside of the European Union, the European Commission has announced that containerships sailing from a non-EU port to discharge cargo at an EU port by the way of Tanger Med or East Port Said will pay for 50% of ... Anil Sharma eyes ship leasing Anil Sharma, best known as a cash buyer for ships for recycling, is looking at a new business strand. Sharma's Global Marketing Systems Inc (GMS) is the world's largest buyer of ships and offshore assets for recycling. On top of that, he has Lila Global, a shipowning division that has grown rapidly in the last ... VLGC rates surge on Panama Canal cuts News this week of further daily transit cuts at the Panama Canal has sent a rocket through the already hot VLGC markets. With containerships expected to take the lion's share of the available slots on the interoceanic waterway for the next four months at least, other ship types are having to make contingencies, with fleets ... Maritime Craft Services orders CTV trio in Finland Finnish shipbuilder Uudenkaupungin Työvene has won an order for three hybrid-ready SWATH CTVs from the Scottish company Maritime Craft Services. According to Työvene, this order marks the shipbuilder's entry into the rapidly growing offshore wind market. A small waterplane area twin hull or SWATH is a type of vessel designed for a minimum motion of ... Valaris secures $480m worth of new deals and extensions Offshore driller Valaris has been awarded a number of new contracts and contract extensions, with an associated contract backlog of approximately $480m. In the floater department, Valaris won three contract extensions for three of its drillships while a brand-new deal was awarded to one of its semisubs. The driller won a 250-day contract extension with ... Seafarers Happiness Index suffers its longest decline Further concern over seafarer welfare has been raised by the results of the latest Seafarers Happiness Index, which reveals a further drop in seafarer happiness and marks the longest sustained decline since the index was founded. This report covers Q3 2023 and is the third successive report to show a decline, sparking fears over the ... Navigating risk in a sanctions landscape As geopolitical tensions continue to have profound implications for the maritime sector, Fiona Rafla, senior lawyer at Wikborg Rein, outlines how innocent parties can seek to unwind troublesome contracts when dealing with a sanctioned party. The maritime industry and global trade have been at the sharp end of risk considerations due to a rapidly evolving ...

news on subscription

web site

NOVEMBER 2, 2023

US slaps sanctions on key player in Mariupol reopening Roskapstroy is responsible for much of the activity happening at the occupied port of Mariupol, including restoration projects and running... Dorian LPG maintains confidence in market after record second-quarter earnings Owner of 25 modern VLGCs declares ninth dividend but keeps flexibility for fleet renewal Southeast Asia LNG bunkering picks up on lower prices, says analyst LNG prices could compete with traditional bunker fuel prices, analyst concludes Navios Partners brings orderbook to 28 with four aframax product tankers US-listed behemoth discloses terminations and tweaks of charters for four containerships US-sanctioned Crimea caller and accused grain plunderer renames Blacklisted San Severus, formerly Finikia, changed its name after a dark port call in the eastern Mediterranean Sea. It has... Israel war risk rates steady as Lebanon pricing softens Ukraine premiums easing slightly, market sources report Sumec's New Dayang looks to excel as a niche bulker specialist He advises against acquiring yards in a strong market, even as the market recovery has positioned shipbuilding as a seller's... Teekay Tankers smashes records and expectations in third quarter US-listed Teekay Tankers achieved its highest third-quarter rates since 2008 despite pronounced market volatility. The mid-sized tanker specialist is tipped... K Line earnings hit by normalising container and weakening bulker markets Net profits plunged to ¥24.6bn in the three months between July and September, an abrupt decline from nearly ¥300bn in... Yara and North Sea Container Line form joint venture for 'world's first' ammonia-powered boxship Norway's Yara and North Sea Container Line will charter vessel for 15 years from an undisclosed shipowner for service between... 'Risk off' Norden looks to 2025 for better dry cargo markets Forward positions show confidence returning after 2024 for bulk carrier segment Odfjell Q3 earnings flat despite seasonal lull Odfjell posts another solid quarter but expects a 'stable' result in the traditionally strong fourth quarter, as it will have... MSC adds 328th secondhand boxship since 2020 Values of modern containerships appear to be holding firm, although pressure is building for price drops of older units. Meanwhile... Euronav reports $114.6m profit, with pivotal Frontline deal 'at inflection point' Shareholders can choose between realising value in cash or following Euronav in a new strategic direction, says interim chief financial... 'Challenging' dry cargo outlook pares profits for Norden Norden preparing for tougher 2024 amid lower demand growth and reduced congestion Daily Briefing Dark fleet consolidates Russian oil shipments dominance | EU ETS to include calls at Tanger Med and East Port Said |...

news on subscription

web site

NOVEMBER 2, 2023

'Aggressive' truck brokers stuck in soft market: C.H. Robinson The largest US freight broker expects more companies to follow Convoy and exit the market as demand remains weak and rates stay low. ONE expands Indian network amid signs of export trade recovery A raft of recent service additions and enhancements has cemented the carrier's intra-Asia reach for Indian customers. Automation forcing its way into freight audit and payment market The need for shippers and brokers to speed up the auditing and payment of freight bills is bringing AI and automation-focused vendors to the fore. Carriers, shippers prepare for 2024 amid spectrum of uncertainty: analyst Forecasts are important for the container shipping industry, but it comes down to identifying and categorizing risk and then using that approach to develop a robust plan in the face of "known uncertainties," writes analyst Lars Jensen.

news on subscription

web site

NOVEMBER 2, 2023

Eagle Bulk flies lower to absorb first quarterly loss in two years Connecticut owner pays $0.10 dividend and guides to stronger TCE rate in current market Baltic Dry Index hits seven-week low as negative sentiment weighs on dry bulk market Futures market shows optimism for lacklustre shipping sector Suicide suspected as member of Naftomar's Zein family dies 63-year-old Imad Zein was found dead in his Athens home, according to Greek media Hoegh Autoliners steadfast on ammonia as fuel of choice Shipowner signing multiple letters of intent for ammonia fuel as it prepares for fleet transition Diana Shipping continues Western Bulk period deal at lower rate Only one other bulker fetches one-year fixture in last two weeks, according to Baltic Exchange 'Important milestone': Okeanis Eco Tankers plots New York listing Controlling Alafouzos family sees US move as providing wider investor access to its modern fleet Vessel delays contribute to scrapping of Orsted's US offshore wind projects Danish company's chief executive lists wind vessel availability among factors in scrapping Ocean Wind Dry-docking hitting Odfjell's bottom line? 'That probability is low' says Fotland The company will have fewer available commercial days in the fourth quarter as several of its ships head to dry dock Cheniere inks sales deal that could see it deliver LNG well beyond 2050 Company claims title of 'fastest LNG producer' to reach 3,000th cargo milestone Drydocking hitting Odfjell's bottom line? 'That probability is low' says Fotland The company will have fewer available commercial days in the fourth quarter as several of its ships head to drydock Norway's North Sea Container orders 'world's first' ammonia-fuelled container ship Vessel expected to use about 10,000 tonnes of ammonia annually Cheniere inks sales deal which could see it deliver LNG well beyond 2050 Company claims title of 'fastest LNG producer' to reach 3,000th cargo milestone Maxim Group-tied deals slow to a crawl as all eyes turn to New York courts This week's Streetwise explores how unlikely governance avenger George Economou is making life uncomfortable for a prominent Greek shipping family Norway's NCL orders 'world's first' ammonia-fuelled container ship Vessel expected to use about 10,000 tonnes of ammonia annually Navios Partners tops up tanker newbuilding tally with product tanker quartet Angeliki Frangou boosts newbuildings, renegotiates boxship contracts and enters South American transshipment business From the doldrums to record-setting rates, Hagland describes crazy October for AHTS Weather wreaked havoc on both the AHTS and PSV market, Norwegian broker says Sir David Attenborough research ship checks halted before lifeboat accident Engineering crew stopped routine maintenance to focus on fixing faults K Line profits slide as dry bulk and box ships struggle Japanese company is in the black but bottom line figures are down by 80% Denmark's DFDS hunts for new finance chief as Karina Deacon quits Ro-ro and ropax group says CFO wants to pursue a non-executive role Aon calls for passenger ship insurance review 11 years after the Costa Concordia Broker argues that without a major claim in a decade the sector deserves to be recognised with lower rates UK Supreme Court kicks out UniCredit's appeal in $24.7m Euronav legal dispute Italian bank now has no further recourse over what it alleged was cargo misdelivery The ship surgeons rebuilding lives in Africa The industry is due to hold its annual Cargo Day on 8 November to raise money for medical charity Mercy Ships Dorian LPG stays flexible on fleet renewal as earnings hit new record Boom time for VLGCs means big jump in profit for US owner Leonhardt & Blumberg expands into new arena with newbuildings in India General cargo ships jointly ordered with Dutch player Boomsma Shipping at new Chowgule shipyard Charterers rushing to secure tankers ahead of any wider Middle East conflict, Euronav says VLCC and suezmax rates rising over fears that Israel-Hamas war could spiral, owner argues Wallenius Wilhelmsen stake propels Wilh Wilhelmsen profits upwards Shipping conglomerate's earnings strengthen thanks to car carrier owner holdings 'Not your average troubleshooter': Greek mediators deploy corporate diplomacy to crack maritime disputes Shipowner and Brussels insider use corporate diplomacy to resolve festering maritime rows Wavelength: Container ship players face a 'car crash' - and don't have any brakes Operators that have been busy buying new vessels have been sowing the seeds of their own demise Hanwha Ocean delays delivery of three VLGC newbuildings Okpo-based shipyard is in discussions with shipowners over liquidity damages Ostergaard-Nielsen family unveils five-year growth plan for tanker and bunker operations USTC group wants laser focus on future acquisitions while forming new common strategy for diverse operations Hoegh Autoliners moves to secure 'clean' ammonia supply in Yara deal Norwegian car carrier firm strives to cover the fuel needs of its dozen Aurora Class newbuildings Mike Meade's M3 Marine set to launch London offshore shipbroker as demand grows Experienced Singapore broker says Western push prompted by unprecedented growth in sector Teekay Tankers eyes eight vessel buybacks as profit sets record US-listed owner says result is best ever in third quarter Euronav captures tanker upturn as it buys back VLCC leased in China The Nectar has been taken back under ownership to 'crystallise a potential capital gain' Odfjell predicts healthy rates ahead after posting 'solid' results Spot markets softened during the third quarter but picked up in later months NYK halfway to spending mammoth $1.3bn share buyback budget But Japanese line's stock is too expensive for it to reach its 85m-share target Euronav capturing tanker upturn by buying back VLCC leased in China The Nectar has been taken back under ownership to 'crystallise a potential capital gain' Norden kicks off share buybacks as lower freight markets hit quarterly result Bulker and product tanker firm's operating activities are feeling the squeeze Euronav pulls dividend and earnings call as it stands at 'inflection point' after Frontline deal Profit soars but earnings to be retained while sale of VLCCs to Frontline and takeover offer by CMB plays out Densay broadens footprint in big bulkers with capesize buy Kassian Maritime and Zodiac Maritime believed to be among this week's capesize sellers Carnival agrees potential four-year LNG bunkering deal for latest newbuilding Cruise giant describes LNG as the best available market-ready fuel to help cut greenhouse gas emissions now

news on subscription

web site

NOVEMBER 2, 2023

Lufthansa Cargo profits wiped out in Q3 Lufthansa Cargo didn't make a profit in the third quarter as revenues fell more than 40% from last year.