MAIB reports on a somewhat Jägermeister-assisted grounding Over the years, there's been much discussion about ECDIS-assisted groundings. A recently released accident report from the U.K. Marine Accident Investigation Branch (MAIB) could just add the term "Jägermeister-assisted grounding" to maritime
Looking offshore, Fincantieri buys Remazel Looking to strengthen its position in the offshore and subsea sectors, Italian shipbuilding giant Fincantieri is to acquire Chiuduno, Italy, headquartered Remazel Engineering S.p.A. from Advanced Technology Industrial Group S.A. Remazel is
AD Ports Group and Kazakhstan Railways form new joint venture In the presence of Kassym-Jomart Tokayev, the President of the Republic of Kazakhstan, AD Ports Group has officially inked an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways), a national railway company. This deal establishes a joint venture aimed at bolstering rail connectivity, maritime shipping services, and the overall development of operations within Kazakhstan's ports. The co
GoodShipping launches 'Switch to Zero' campaign with Port of Rotterdam To expedite the shift to sustainable shipping without complex supply chain changes, GoodShipping, in collaboration with the Port of Rotterdam Authority, initiated the 'Switch to Zero' campaign. Companies could easily grasp the insetting concept, reduce CO2 emissions in their freight at an attractive price, and realize that change is feasible without supply chain adjustments. Robbert Wehrmeijer, M
Yara and North Sea Container Line introduce world's first clean ammonia-powered container vessel Yara Clean Ammonia, North Sea Container Line and Yara International are cooperating to realize the world's first container ship that will use clean ammonia as fuel. Named Yara Eyde, the vessel will be the first to sail emission-free sea route between Norway and Germany. "Yara Eyde will be the world's first container ship running on clean ammonia and is a cross-sector collaboration enabling large-
Carriers set for major blanking programme Hong Kong consultancy Linerlytica suggests that the carriers are struggling to achieve the General Rate Increases (GRIs) that they have supposedly imposed amongst the increase in capacity and persistent low demand, which will lead to greater capacity management according to one expert. Long term shipping commentator and industry insider John McCown in his latest report suggests that the impact on
AD Ports and Vietnam Maritime Administration ink cooperation agreement AD Ports Group and Vietnam Maritime Administration (VINAMARINE) have formally signed a Memorandum of Understanding (MoU). This collaboration, endorsed by Vietnam's Prime Minister Pham Minh Chinh and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi establishes a partnership spanning ports, logistics, digital solutions, economic cities, free zones, and maritime and shipping. The agree
Thordon Bearings and Wärtsilä team up to launch Blue Ocean Alliance Thordon Bearings and Wärtsilä have joined forces to launch the Blue Ocean Alliance, aiming to revolutionize ship design and environmental protection by developing a sterntube-less ship concept. "The Blue Ocean Alliance brings together a formidable partnership to develop and further promote the concept. The fact that several ship owners have already shown interest in this solution is extremely enc
Maersk settles Ever Given case out of court Maersk Line has reached an out-of-court settlement with the parties it sued for damages resulting from the grounding of Ever Given in the Suez Canal two years ago. The 20,124 TEU Ever Given, owned by Japanese tonnage provider Shoei Kisen Kaisha and on long-term charter to Taiwanese mainline operator Evergreen Marine Corporation, became grounded on 23 March 2021, soon after crossing the southern e
Chennai ports shut as Cyclone Michaung approaches Indian coast All ports in India's Chennai region have closed operations until further notice on Monday (4 December), as a precautionary measure to deal with the Cyclone 'Michaung' threat. The cyclone is expected to make landfall in the Chennai coastline tomorrow (Tuesday), according to weather updates. "The cyclone is likely to move north-northwestwards, intensify further into a severe cyclonic storm before M
Konecranes enhances Santos terminal handling capabilities Konecranes' material handling equipment and services support the growth of Eldorado Brasil Celulose Logistica in the port of Santos, Latin America's largest port. Konecranes delivered seven forklifts and two gantry cranes to Eldorado Brasil's new cellulose terminal in the Brazilian port in the third quarter of 2023. Eldorado Brasil's new terminal in Port of Santos is designed to process 3 million
Maersk to invest over US$500 million in Southeast Asia Maersk will invest more than US$500 million in expanding its supply chain infrastructure to support Southeast Asia's emergence as a global production hub and a consumption powerhouse. Maersk's planned three-year investment will target its Logistics & Services arm, but at the same time, a significant amount of investment will also be channeled into its Ocean and Terminals infrastructure. Maersk be
MPA Singapore, IACS sign deal to drive collaboration in digitalization and decarbonization projects The Maritime and Port Authority of Singapore (MPA) and the International Association of Classification Societies (IACS) have inked a Letter of Intent (LoI) during the 33rd session of the International Maritime Organization (IMO) Assembly in London. "As we advance and accelerate the development of new technologies and solutions which benefit the global maritime community, it is important for harmo
Cepsa and C2X partner for Europe's largest green methanol plant project Cepsa, owned by Mubadala and Carlyle, and C2X, an independent company majority owned by A.P. Moller Holding with A.P. Moller - Maersk as minority owner, announced their collaborative venture to establish a green methanol plant in the port of Huelva, southern Spain. This innovative project involves creating green methanol using green hydrogen and carbon from non-fossil sources like atmospheric cap
OOCL introduces new Japan Philippines service Orient Overseas Container Line (OOCL) aims to expand its service network for Japan and the Philippines by introducing the new KTX4 Service, which is expected to launch on 8 January 2024 from Manila. The KTX4 Service will enhance the network coverage between Japan, Taiwan, Hong Kong, South China and the Philippines. KTX4 will directly connect multiple ports in Japan with the Philippines to cater t
Maersk tops schedule reliability rankings, MSC and CMA CGM follow In October, the global schedule reliability of ocean carriers remained steady at 64.4%, showing no month-on-month change, according to Sea-Intelligence report. Except for the May increase, reliability has maintained a consistent range within 2% points since March 2023. Meanwhile, schedule reliability has seen a significant uptick of 12.6% points year-on-year. Concurrently, the average delay for l
CBED expands fleet with Vroon SOV pair Danish offshore accommodation specialist CBED, part of Maonjasa Holding, has bolstered its fleet with the acquisition of two service operational vessels from Dutch shipowner Vroon. The 2017-built and UK-flagged SOVs Vos Start and Vos Stone have been picked up for an undisclosed sum and will be renamed Wind Evolution and Wind Creation, respectively. The ships ...
Awilco LNG refinances both ships in new leasback deal Norwegian gas carrier operator Awilco LNG has secured refinancing for the company's two LNG carriers WilForce and WilPride. The Jon Skule Storheill-led company has sealed a deal with an unnamed Asian financial leasor which will allow it to buy the 2013-built 156,000 cu m vessels out of their current deal with China's CCB Financial Leasing. ...
Gram Car Carriers buys back panamax as it fixes new finance Norway's Gram Car Carriers (GCC) has secured a $35m loan to buy back the 6,700 ceu panamax vessel Viking Bravery currently under sale and leaseback deal with CSSC Shipping. The Oslo and OTC-listed tonnage provider has taken out the loan priced at SOFR +1.65% from DekaBank Deutsche Girozentrale with a maturity that matches the duration ...
PXGEO awarded 4D survey by Petrobras Peter Zickerman's marine seismic player PXGEO has secured a new contract with Brazil's Petrobras for a 4D ocean bottom node (OBN) survey. The survey in the Santos Basin will be carried out in water depths up to 2,200 m and last for approximately seven months. PXGEO has executed several OBN projects for Petrobras, which presented ...
Red Sea security situation worsens Rockets and drones rained down on international merchant shipping in the Red Sea on Sunday with war risk surcharges now becoming more common and naval coalitions struggling to keep up with the volume of attacks in the Middle East. This de facto pulls China closer into the conflict In recent weeks, the Houthis from Yemen, ...
95% of shipping's zero emission fuel projects still on the drawing board New research published today shows that more than 95% of supply side projects to produce zero emission fuels in maritime shipping are in the pre-final investment decision (FID) phase, meaning that the decision to invest capital and start construction has not been made. Maritime shipping requires an approximate 15% reduction in emissions by 2030 versus ...
Car carrier trades smash multiple records Record car trade volumes by sea are on track to stand 12% above pre-covid levels this year, and 19% above in car-miles, according to the latest projections from Clarksons Research, with car carriers being one of the best performing shipping sectors this year. Global deepsea seaborne car trades will grow by 17% to 23.7m cars, ...
Greener ship recycling options emerge Greener ship recycling options are emerging in South Asia. The European Union is close to adding more yards in Alang, India to its list of approved recycling facilities with discussions ongoing. Moreover, a newly-minted EU agreement on waste shipments is set to remove a legal roadblock to make it possible for a raft of non-OECD ...
Russia fails to win re-election to IMO Council Russia lost its re-election bid to the ruling council of the International Maritime Organization (IMO) on Friday. Other member states encouraged Liberia, the world's largest shipping flag, to launch a rival bid to win a seat in the top category A part of the council with Ukrainian president Volodymyr Zelensky also exhorting members via video ...
Larger carbon capture role will cost $30trn more in energy transition, new paper says New paper argues there is no evidence to prove costs related to carbon capture and storage fell in the last...
Crew of Houthi-hijacked Galaxy Leader allowed 'modest contact' with families says vessel's registered owner Public relations company issues second statement on behalf of registered owner and shipmanger since car carrier was hijacked on November...
The week in charts: Greek shipowners in exodus from Russian oil trades | Panama Canal delays push up MR freight rates | Ammonia carrier orders grow Top 10 class societies revealed, Greek shipowners turning away from lucrative Russian market and more ships tracked sailing to Ukraine's...
Carriers box themselves in with lower charter ratios Container lines bought up swathes of tonnage during the boom years. Now the market has turned, lower charter capacity will...
Adnoc returns to Jiangnan Shipyard to order carbon capture storage system-fitted LNG carrier Adnoc has ordered six 175,000 cu m LNG carriers from the Shanghai-based shipyard in the past year
Shipping showcases its decarbonisation progress at COP28 COP28 could be decisive for shipping's efforts to decarbonise. High-level pledges and agreements around CO2 pricing and a fair energy...
The week in newbuildings: Low crude oil tanker orderbook gets lift NYK is said to have ordered two very large crude carriers while Greek shipowner Atlas Maritime has declared options for...
Maersk to invest $500m in Asia logistics business Maersk already has a major presence in Asia following its acquisition of LF Logistics last year. Now it is seeking...
Seacon sets sights on climbing leading shipmanager ranks The ultimate goal is to evolve into a 'modern integrated marine services provider' combining shipping with commercial and investment activities
Top 10 maritime lawyers 2023 The ubiquity of English law and London arbitration makes the UK a natural centre for barristers and solicitors specialising in...
Port of NY & NJ banks busiest month of 2023 so far The strong cargo volumes seen at the largest Atlantic gateway in October meant this was its busiest month of the...
Daily Briefing Greek shipowners in exodus from Russian oil trades in November | Russia ousted from IMO Council | Shipping chief executives call...
Houthis escalate Red Sea attacks on commercial shipping with strikes against three vessels The Houthis have escalated their Red Sea threat with four attacks on three commercial ships in a span of just...
Southern California agency to unilaterally develop emissions cut rules at rail yards The South Coast Air Quality Management District says it will create rules to reduce emissions at Southern California rail yards because Union Pacific insists on including public financing as a precondition for participating in the more collaborative MOU process.
Maersk to invest $500 million in Southeast Asia logistics even as integrator model struggles The spending program will target the company's logistics and services arm with a "substantial amount of investment" earmarked for its ocean and terminals infrastructure in the region.
Europe's ocean trades may see overlapping CO2 charges: DNV The IMO's global market-based emissions-cutting measure will be introduced in 2027 when it will clash with Europe's ETS and could force shippers to comply - and pay for - two CO2-reducing systems at the same time, classification societies believe.
Carriers weigh options after Red Sea route threatened by missile attacks Three commercial ships were hit by rockets fired from Yemen over the weekend in a deteriorating security situation that has seen at least two ocean carriers introduce war risk surcharges on routes to and from Israel.
Fast-approaching green goals pose uncomfortable question for shipping: analyst Given shipping's relatively poor track record on implementing anything not rigorously enforced, and a preference to delay action to the last possible minute, there seems to be a high risk that decarbonization milestones will not be met, writes analyst Lars Jensen.
Wakeo lands fresh investment in far less heated freight visibility market The company, which caters to shippers like Uniqlo and Michelin, will use the new round of funding to spur a global expansion of its multimodal freight visibility product.
Okeanis asks SEC to step on the gas to allow shares to trade in New York on 11 December Oslo listing to become secondary as regulatory hurdles cleared
EU Commission and Nordics pour cold water on Med nations' pleas to defer ETS Transport commissioner Adina Valean, however, placates critics by hinting at extending the measure's reach outside the EU
'Hazing' or sexual abuse? US Coast Guard court still grappling with case dating back nine years December's Safer Seas Act also raises questions about next steps for case over former Maersk captain
Editor's selection: Frontline's lenders cough up for VLCCs, Braemar's testing time over ... and loud snoring TradeWinds' global team of reporters bring you some of the biggest and best stories of the week
Vroon continues offshore sales by offloading wind farm ships to Monjasa's CBED Dutch owner exits service operation vessel sector in latest disposal
Shake-up of EU maritime safety and pollution laws clear first hurdles European governments give their blessing to a string of updates to maritime regulation
Galaxy Leader owner says nothing more can be achieved by holding crew hostage Seafarers being treated 'as well as can be expected' by Houthis in Yemen
Pertamina International Shipping ties up with Karpowership at COP28 Partners plan to work together on power generation, FLNG, FSRUs, small-scale shipping and fuel supply
Panama Canal disruption could linger into 2025, warns Clarksons' Steve Gordon No significant easing of transit restrictions any time soon, with LPG ships bearing the brunt of disruption
Euronav lifts VLCC newbuilding tally in China after Frontline deal Owner has three large crude carriers on order at Qingdao Beihai
Gram buys car carrier out of lease with $35m DekaBank loan Norwegian owner lowers finance cost in deal to repurchase ship from CSSC Leasing
Abandoned tanker grounds after drifting from Philippines to Vietnam King Rich found off Quang Nam after crew evacuated a week ago due to water ingress
Methanol trumps LNG as newbuilding fuel of choice to date in 2023 But at least one shipowner has switched away from it for one order
OOCL-chartered boxship safe after Red Sea drone strike, says UK owner No injuries or pollution, says boss
'Disbelief' in bulker earnings surge holds back S&P market, for now Maran and Herun offload capesizes and Egypt's NNC is linked to the purchase of another modern kamsarmax
Houthis may be using old data as bombed boxship's past links to Zim emerge Israeli line operated OOCL's Number 9 until November 2021, sources say
UK completes 'groundbreaking review' of cadet training Proud MCA hopes IMO will adopt syllabus changes at international level
Awilco LNG wastes no time buying back $314m duo from Chinese lease Norwegian operator declaring purchase options for 2013-built ships at earliest opportunity
Investor Spetalen sells last PSVs for massive profit as offshore bet pays off Tycoon's Standard Supply offloads four mid-sized ships for $34m in total
Comment: Should shipping be front of the queue for green fuels? Indecision over fuel choices as other industries snap up new green production could hamper shipping's transition
Norwegian Hull Club calls time on the marine insurance 'super cycle' Time for disciplined underwriting, says chief executive Hans Christian Seim
US blames Iran for Houthi attacks and vows 'all appropriate responses' Military's Central Command says bulker was attacked twice
Australia Pacific LNG prepares to resume exports after gas ship moved Three cargoes are reported to have been delayed while vessel was stuck at terminal
US blames Iran for Houthi attacks and vows to mull 'all appropriate responses' American military's Central Command says Unity Explorer was attacked twice
DHL Express rotates Americas CEO to Europe DHL Express announced high-level personnel changes in its global organization.
'Astronomical' gains for dry bulk shipping but rally looks fleeting Commodity shipping has a well-deserved reputation for extreme volatility. The rise and expected fall in dry bulk is a case in point.
UPS to quadruple size of Hong Kong airport express facility UPS will invest an undisclosed amount of money to build an ultra-modern air package hub at Hong Kong International Airport.
Maersk Air Cargo explores China-UK route Maersk, the giant ocean shipping carrier, is testing a U.K. airport as a possible import base for its cargo airline.
Amerijet feels financial pinch as cargo business deteriorates Cargo airline Amerijet is operating fewer aircraft to conserve money as shipping demand from major customers shrinks.
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