MTU picked to power two new Abu Dhabi Ports fast ferries Two Incat Crowther designed car/passenger ferries being built for Abu Dhabi Ports Group will each be powered by four Rolls-Royce MTU Series 4000 diesels. The order for the engines was placed with
Equinor takes a stake in Texas offshore carbon storage project Given the way its electricity market works, Texas may not be the friendliest place for offshore wind development. But wind farms are not the only kind of green development going on offshore
Asian waters see 32% rise in incidents in 2023 so far The number of piracy and armed robbery against ships in Asian waters increased by 32% until August this year compared to same period last year, data reported to a regional centre shows. Until August 2023 some 78 incidents were reported to the information sharing centre of the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP). On the other hand, du
DP World to invest US$510 million to develop new mega box terminal in India DP World signed a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega-container terminal at Kandla in Gujarat on India's western coast. The Deendayal Port Authority awarded the concession in January to develop the mega-container terminal to Hindustan Infralog Private Limited -- a joint venture between DP World and National
Maersk boxship tanks green methanol in Rotterdam A new Maersk vessel, built at Hyundai Mipo in Ulsan, South Korea, arrived at Rotterdam port's APMT 2 on 28 August to bunker green methanol. During its maiden voyage, the vessel sailed on green methanol, which it also bunkered in Egypt. Maersk will be deploying the vessel between Northern Europe and the Baltic Sea. It will run on methanol, but it will also be able to switch to low-sulphur fuel oil
Port of Los Angeles releases draft design for waterfront connection in San Pedro The Port of Los Angeles has released a draft Waterfront Connectivity Plan for San Pedro, a long-term planning and visioning document outlining strategies to better connect Downtown San Pedro, surrounding neighbourhoods, and the larger region to the LA Waterfront and its many attractions, following extensive community and local stakeholder input. SWA Group, a major landscape construction, planning
DP World promotes rail transport through incentive scheme DP World has launched a new programme in the United Kingdom to incentivise cargo owners in order to reduce their carbon emissions by shifting from road to rail. More specifically, the Modal Shift Programme, which is being trialled at DP World's Southampton Logistics Hub, offers customers a financial incentive to move their imported goods off the road and onto rail, cutting carbon emissions and ai
HMM suitor Dongwon receives KDB funding to run Busan terminal South Korean logistics and deep-sea fishing conglomerate Dongwon Group, which is one of the bidders for HMM, has secured approximately US$280 million in financing from KDB Smart Ocean Infrastructure Fund, a scheme led by state-controlled policy lender Korea Development Bank (KDB). The funds will be used to operate a new container terminal under Phases 2-5 and 2-6 of Busan New Port's West Containe
New commissioners at Port of Oakland Board The Oakland City Council approved the appointments of Jahmese Myres and Stephanie Dominguez Walton to the Port Board at a July Oakland City Council meeting. The new commissioners are filling open positions due to Commissioners Cestra "Ces" Butner and Joan Story completing their years of dedicated volunteer service as Port Board members. More specifically, Commissioner Myres was sworn in on 24 Jul
CMA CGM equips newbuild container ships with Wärtsilä FGSS systems Technology group Wärtsilä will supply LNG Fuel Gas Supply (FGSS) systems for four new 23,000 TEU container vessels being built for French shipping giant CMA CGM at the Hudong Zhonghua Shipbuilding yard in China. This latest order represents a continuation of Wärtsilä's supply of fuel gas supply systems to CMA CGM vessels. During the past six years, Wärtsilä has been contracted to supply 30 of the
ICTSI secures US$750 million loan to expand port operations Global port operator International Container Terminal Services, Inc. (ICTSI) has secured a US$750 million loan from the fourth largest bank in the Philippines, Metropolitan Bank & Trust Co. (Metrobank). To date, this is the biggest credit facility secured by ICTSI and the largest bilateral facility extended by Metrobank. ICTSI aims to further expand its port operations worldwide through this fina
IUMI publishes guidelines for safe sea transport of electric vehicles In the wake of the car carrier fire, growing concerns within the shipping community arose regarding the possibility that this and other fires could be attributable to electric vehicles. It must be said that the source of the blaze onboard the Fremantle Highway is still unknown and will remain such until an investigation is concluded. ...
CO2 transport fleet to ship over 90m tonnes annually by 2030: Rystad The transportation of carbon dioxide is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030. Rystad Energy predicts that, based on planned carbon capture projects, more than 90m tonnes per annum (tpa) of CO2 will be shipped ...
Vietnamese in for panamaxes ITC Transport And Trading Joint Stock Company and Viet Thuan Transport have both tapped the market for vintage panamaxes. Few Vietnamese owners have added bulkers this year, according to the online portal VesselsValue. ITC has added a 21-year-old, Hitachi-built panamax, renamed Dolphin 75, from Greek owner Adelfia Navigation for around $10m, while Viet Thuan Transport, has added a same ...
Höegh LNG and Aker BP link up on carbon capture and storage Norway's Höegh LNG and Kjell Inge Rokke's oil and gas producer Aker BP have entered into a strategic partnership to develop shipping and storage solutions within the Norwegian Continental Shelf (NCS), for carbon dioxide (CO2) captured from industrial emitters in North-West Europe. Aker BP has been evaluating CO2 storage opportunities on the NCS as a ...
Island Drilling stretches semisub deal in Equatorial Guinea Norwegian rig owner Island Drilling has seen another option exercised on semisub rig offshore Equatorial Guinea. Trident Energy has booked the 2012-built rig for an additional 40 days on behalf of another operator in the central African country. This is the third option being exercised to keep the rig engaged in Equatorial Guinea for around ...
100-year-old ship grounds off Finland as master takes 40 winks A 100-year-old cargo ship ran aground in the Åland archipelago off the southwest coast of Finland early on Friday morning after its captain fell asleep. The 50-meter-long, 1923-built cargo vessel ran aground while on its way from Godby to Naantal loaded with grain. The cargo on the ship consists of 800 cu mof oats and ...
Oceaneering bags $100m in contracts Houston-based Oceaneering has secured two contracts with a combined total value in excess of $100m. The New York-listed company's Offshore Projects Group (OPG) has been named a consortium partner to support transportation and installation work on the Girassol life extension project offshore Angola. The work scope includes air and saturation diving services, project management, engineering, ...
DEME taps Hellenic Cables for French wind work Belgian shipowner and marine services contractor DEME has selected Hellenic Cables, the cables segment of Cenergy Holdings, to supply inter-array cables for the Eoliennes en mer Dieppe Le Tréport (EMDT) offshore wind farm in France. The project, located off the coast in the English Channel and expected to be commissioned in 2026, is being developed ...
Eastern Pacific Shipping orders landmark ammonia-powered newcastlemaxes in China One of shipping's first movers when it comes to alternative fuels is being linked to another industry first in the dry sector. Singapore-based Eastern Pacific Shipping (EPS) has ordered up to six ammonia-fuelled newcastlemaxes in China, according to brokers. The order for three plus three optional ships at Qingdao Beihai Shipbuilding Heavy Industry comes widely ...
Singfar signs for MR quartet at Chengxi Singaporean owner Singfar International has placed an order for the construction of four MR tankers at China's Chengxi Shipyard. The signing is the first cooperation between Singfar and the CSSC-affiliated yard which has been very active with multiple newbuildings booked in the past couple of months. Chengxi has so far sealed more than 30 shipbuilding ...
Beks takes Japanese-built capesize bulker Turkey's Beks Ship Management & Trading is pressing ahead with its fleet expansion by adding a 17-year-old Japanese-built capesize bulk carrier. Multiple brokers reported the Ali Bekmezci-led firm had picked up the 2005 Namura-built 176,800 dwt Santa Lucia from Mitsubishi Ore Transport in a deal worth in excess of $16m. The fast-expanding outfit has been ...
ICTSI seals $750m loan for further growth Manila-headquartered International Container Terminal Services Inc (ICTSI) has secured a six-year $750m loan from Metropolitan Bank & Trust Co (Metrobank) to boost its global port operations. The largest credit facility secured by ICTSI to date and the largest bilateral facility extended by Metrobank will be utilised to repay the terminal operator's short-term commitments as well ...
Fred Olsen Windcarrier wins Taiwanese wind farm contract Norwegian offshore wind installation company Fred Olsen Windcarrier (FOWIC) has been awarded a contract working with Shimizu for the transportation and installation of monopile foundations for the 640 MW Yunlin offshore wind farm in Taiwan. The work on the project, which will see 80 wind turbines of 8 MW installed off the west side of ...
Coup leaders reopen Gabon's transport links Gabon reopened its borders on Saturday, three days after closing them during a military coup in which president Ali Bongo was ousted. Vessel tracking platforms showed on Monday morning ships heading in and out of the oil-rich West African nation. According to the International Energy Agency, Gabon currently produces around 210,000 barrels per day. By ...
Black Sea shipping set to dominate headlines this week Black Sea shipping is set to dominate maritime headlines this week with the heads of littoral states discussing how to navigate the war-torn waters with international leaders, while Russia continues to pummel Ukrainian port infrastructure. Over the weekend Volodymyr Zelenskiy, the president of Ukraine, revealed two more ships had managed to break free from local ...
Greek ferry worries linger despite record summer traffic Funding for renewal and fuel costs top owners' anxieties at recent meeting
Gabon coup's market impact too soon to tell Gabon's ports have reopened and Owendo is preparing to receive its first port call since a military takeover shut operations...
The week in newbuildings: Hyundai Heavy Industries wins VLGC pair Order for 88,000 cu m capacity very large gas carriers is said by brokers to have been placed by Norway's...
Costs will constrain carrier capacity deployments, Habben Jansen says As he confirms Hapag-Lloyd is out of the running for HMM, Rolf Habben Jansen says rising costs will drive carriers...
Gard reports 99% combined ratio in first half as hull claims increased Norwegian insurer reports non-technical profit of $54m, as gross premiums rose to $559m from $407m a year earlier
The week in charts: Majority of tankers calling at Russia breach G7 sanctions | Box rates tread water | Gabon coup's impact on shipping Carriers urged to cut more capacity ahead of China's October Golden Week, containership charter rates continue to decline, US east...
Dalian unveils incentives to boost shipping and logistics Wide-ranging financial subsidies and rewards are being offered at the northern Chinese port city to develop new international routes and...
Transatlantic box rates set for further falls Container lines pumped in capacity as freight rates defied gravity. But a failure to match supply with demand has seen...
Public opinion will drive green impetus, says wingsails investor Sail designer says making performance data visible in real time could give the public confidence in green claims
Danube port infrastructure damaged in latest attacks The offensive comes ahead of talks between Russian and Turkish leaders on the grain deal
Northern Lights orders third CO2 carrier at Dalian Northern Lights expects to start the CO2 transport and storage service in 2024
Cautious optimism tempers shipbuilding rebound If orders do reflect owners' finances rather than just their intentions, the question is when will tankers and bulkers have...
Daily Briefing Two out of three tankers calling at Russia during August breached G7 sanctions | Electric vehicle fires 'not more frequent...
Hapag-Lloyd CEO says exclusion from HMM bid was expected The Hamburg-based carrier has confirmed that HMM's South Korean state owners have removed it from the bidding process.
MPV/HL orders scarce despite need for sustainable fleet Newbuilding investments in the multipurpose and heavy-lift fleet will be crucial to the global push to decarbonize energy.
Dry freight derivatives lead the charge into the third quarter as physical market lags Broad yet vague optimism seems to have stimulated buying in the dry freight derivatives market on Monday
Oslo bond market hot as Ocean Yield, Kistefos and KCC seeking $234m combined Shipping companies trying to refinance earlier more expensive debt, with investors keen
Donso shipping meet is neither London nor Oslo. It has a magnetic charm of its own TradeWinds visits the biggest shipping event at the tiny Swedish island, which is one of a kind
'Compelling regional proposition': Columbia strikes strategic partnership with Seacon Cooperation will see Chinese-owned and operated vessels run out of CSM's Greek office in bid to bring manager's digital optimisation to China
Petrobras scraps product carriers that never launched but tanker demolitions are still down Shipbroker BRS says Brazilian oil major's recycling deal skews total of ships scrapped so far in 2023
Panama Canal slot auction record of $2.6m 'likely to be broken soon' Continuing pressure on transits will force shipowners to hit new highs in bidding
New Chinese shipping player emerges with former Maran capesize Iron ore trader Macrock acquires its first vessel as China bolsters its supply chains
Kongsberg Digital's Shane McArdle tells sceptical shipowners to find their 'north star' Software chief executive says technology is ready, but digitalisation push needs willing owners
Lomar Shipping makes Peter Cotopoulis operating chief and replaces finance boss Dennis Psachos London-Greek group promotes former intern Mark Kethisouaran
Baltic's VLCC measure goes negative as Saudi exports plunge Shipbroker Gibson says pessimism in the sector is also affecting rates from the US Gulf
Mining giant Vale picks four Asian shipping companies for its new generation of Guaibamax bulk carriers Vale tender seeks up to 12 newbuildings, including option vessels
Kongsberg Maritime's Shane McArdle tells sceptical shipowners to find their 'north star' Software chief executive says technology is ready, but that digitalisation push needs willing owners
The Donso shipping meet is neither London nor Oslo. It has a magnetic charm of its own TradeWinds visits the biggest shipping event at the tiny Swedish island, which is one of a kind
UK honours pilot for safety campaign after life-changing injury Ewan Rattray prompted IMO review of boarding rules after serious accident
Gard reports profits in P&I ahead of renewal rate decision P&I insurers are considering the level of premium increases for next year
Shipbroker returns to Ukraine with life-saving medical kit Sale-and-purchase broker Henry Keighley raised money from the shipping industry to finance the mission
Ardmore Shipping stacks shelf for $50m share offering in US Evercore, DNB Markets and UBS brought in to handle deals 'from time to time'
Pakistan jumps back into the scrap game after being missing since January Ship recyclers are reported to have bought two bulkers, with three more deals under negotiation
Hoegh LNG and Aker BP team up on carbon transport Companies will develop floating storage and shipping solutions to put into operation before 2030
Fred Olsen latest shipowner to test hot Oslo bond market Cruise ship and offshore wind farm shipping group meeting investors to gauge interest in five-year deal
Why shipping must now take nuclear energy seriously The IMO has changed the calculus over how maritime views nuclear energy despite the significant hurdles
100-year-old cargo ship grounds after master admits falling asleep The Leonie got stuck with a cargo of grain east of Vardo
More women on maritime postgraduate courses, but they remain a minority says World Maritime University Increased number of women attending World Maritime University, new data shows
Bunker trader Singfar International jumps into MR tankers Singapore company has ordered four newbuildings at China's Chengxi Shipyard
Sinking feeling for container charter markets as sublet jitters grow The container shipping market was always likely to correct, but some players still seem surprised
Uncertainty surrounds Gabon crude exports in wake of coup, says Poten Shipbroker says African nation's small exports can make a difference in a tight oil market
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