Military starts collection of Chinese spy balloon debris The U.S. military today began collecting the remnants of a Chinese high-altitude surveillance balloon shot down by an Air Force fighter over the weekend, according to the Department of Defense . Air
Furetank transforms former office into advanced training center Swedish family-owned shipping company Furetank is probably best known internationally for its cutting-edge eco-friendly 17,999 dwt Vinga series dual-fuel tankers. Those advanced vessels call for new crew routines and skills, so, when
VIDEO: Damen develops floating wind concept vessel With floating offshore wind picking up pace, the Damen group has developed a Floating Offshore Wind Support Vessel concept designed to accelerate the development of the sector. Called the FLOW-SV, the vessel
Chittagong port kicks off new year with container drop The first month of this year did not pass well for Chittagong port, Bangladesh's prime seaport, which handles almost 92% of the country's seaborne export-import trade. Compared to last year's January, the sea port's overall performance drastically fell. Import handling alone fell year-on-year by 33% to 87,984 TEUs in January 2023, while the total box volumes of the Chittagong port declined by 25%
Turkish earthquake-hit Iskenderun port shuts operation Several Turkish ports were hit hard by a devastating earthquake that measured 7.8 magnitudes on the Richter scale, with at least one port suspended operations after docks collapsed, according to Turkish Maritime Authority and media reports. A major port namely LimakPort Iskenderun international port which is located in the Mediterranean coastal city of Iskenderun in the southern Turkish province
Ports in Australia and Japan ink collaboration agreement The new Memorandum of Understanding (MOU) signed by the Pilbara Ports Authority (PPA) and the Port of Himeji aims to promote collaboration and information sharing between the two ports on renewable energy and net zero carbon emission efforts. Premier of Western Australia, Mark McGowan attended the signing of the Memorandum of Understanding (MOU) between Western Australia and Japan to increase ren
Car carrier catches fire off Vietnam A South Korean pure car and truck carrier caught fire while on its way to Vietnam. Vietnam's Ministry of Transport stated that the 1999-built 6,000-car unit Ah Shin, owned by South Korean company Doriko, was about 150 nautical miles off Vung Tau when the fire broke out on 4 February. Ah Shin was acquired second-hand by Doriko in May 2021, according to shipping databases. The ship departed Incheon
MSC expands Sentosa service MSC announced the expansion of its current Sentosa service to connect major ports in China directly with India's key ports of Mundra and Nhava Sheva and Colombo in Sri Lanka. The new Sentosa rotation is alos expected to create a direct connection from north India to the main Southeast Asia ports and the United States West Coast, according to MSC. The first vessel that will sail from the US West C
DP World terminals in UK achieve record container numbers DP World saw a 5% rise in the box volumes of its two hubs in the United Kingdom last year, with London Gateway increasing its volumes by 14% to more than 2 million TEUs and Southampton reporting around 1.8 million TEUs. This is the first time that London Gateway exceeded two million TEUs in a single year, consolidating its position as Britain's second-biggest container terminal. "Within a decade,
Cargotec appoints new president and CEO Casimir Lindholm has been appointed by Cargotec's board of directors as the company's next president and CEO, effective from 1 April, replacing current president and CEO Mika Vehviläinen. Lindholm has held CEO roles at Eltel and Lemminkäinen, as well as other board positions. He has also been a member of Cargotec's board of directors since 2021, and as a result of his appointment, he will no long
Erenhot port sees cargo volume increase in January Erenhot port, a land port on the China-Mongolia border, achieved a rise in import and export cargo volume in the first month of the year. The port saw over 1.42 million tonnes of import and export cargo in January, up over 90% year on year, according to the China Railway Hohhot Group. More specifically, its imported and exported cargo surpassed 1.18 million tonnes and 238,600 tonnes respectively
DP World nears 80 million TEUs in 2022 DP World handled 79 million TEUs throughout its global portfolio of container terminals in the previous year, with its gross container volumes increasing by 1.4% year-on-year. Additionally, the UAE-based operator reported 19.5 million TEUs in the last quarter of 2022. DP World's flagship box terminal in Jebel Ali saw 14 million TEUs in 2022, which represents a 1.7% increase compared with 2021 num
Six crew members dead in tanker accident in Nigeria Six crew members died in an unidentified accident on a tanker off Lagos in Nigeria during the weekend (4-5 January). According to an unconfirmed report, the seafarers seem to be cleaning cargo tanks and, therefore, most likely perished from inhaling hazardous gases in empty tanks. It is unclear if the vessel was carrying petroleum products in its tanks. The deaths of the unknown crew members were
COSCO launches new car transportation service through Piraeus port Piraeus Port Authority (PPA) and COSCO Shipping Specialised Carriers jointly launched a new car shipment route and service in EMEA (Europe, the Middle East and Africa) region aiming to provide high quality service car logistics in the area. The new service concerns the transportation of vehicles in special containers, with a capacity of three vehicles, called flat rack container, equipped with bu
CMA CGM unveils new setup of NC Levant service CMA CGM announced the NC LEVANT new service setup, which aims to improve regional coverage after the company's recent investment in Egypt's Trans Misr Terminal (TMT). The updated rotation will be Felixstowe (England) - Hamburg (Germany) - Rotterdam (Netherlands) - Antwerp (Belgium) - Le Havre (France) - Malta - Alexandria (Egypt) - Damietta (Egypt) - Beirut (Lebanon) - Iskenderun (Turkiye) - Mers
Golar buys out New Fortress stake in Cameroon FLNG unit Tor Olav Trøim-backed Golar LNG has agreed to take over New Fortress Energy's ownership stake in the floating liquefied natural gas (FLNG) facility operating offshore Cameroon. Golar is paying $100m in cash for the 2017-converted FLNG Hilli and returning 4.1m shares it holds in Wes Edens' Nasdaq-listed LNG player. The deal, which is expected to ...
Zero emission vessel competition launched in the UK The UK government has set aside £77m ($93m) to invest in green maritime technology. A government release issued today stated: "The funding will take the tech from the factory to the sea - identifying which projects will have a long-term impact in reducing emissions." Successful projects must show they could use this money to work ...
Scottish sail project readies for testing The Scottish government has detailed today a new round of £1.35m($1.63m) funding for Dumfries-based Smart Green Shipping with the Di Gilpin-led company ready to install its first FastRig (pictured) for land-based testing in June. Smart Green Shipping is a systems design and engineering company developing unique retrofit sails and technology for sustainable commercial ships. MOL Drybulk, ...
'Inevitable owners' market': McQuilling issues bullish five-year tanker forecast McQuilling Services has just released the 26th anniversary edition of its keenly read five-year tanker outlook. The 168-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using ...
Russia products ban starts Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, two months after a similar crude oil ban began. The ban comes along with a price cap agreed by the Group of Seven democracies. European Union member states agreed to impose a cap of $100 per barrel on sales of Russian ...
Car carrier blaze off Vietnam Another car carrier caught fire over the weekend, the latest in a series of incidents that are spooking seafarers and insurers alike. The 6,000 ceu made towards the Vietnamese coastline after a fire broke out on Friday. The blaze ripped through three decks and was only eventually put out earlier today. The Panama-flagged ship was ...
Jaldhi Overseas back at Yangzi-Mitsui Shipbuilding In the product tanker sector, Clarksons Research reports Singaporean owner Jaldhi Overseas has returned to Yangzi-Mitsui Shipbuilding, ordering four 50,000 dwt MRs, with delivery due in the second half of 2025 and the first half of 2026. No price has been revealed. Yangzi-Mitsui Shipbuilding is a joint venture yard between China's Yangzijiang Shipbuilding and Japan's ...
Indonesia's Gurita busy growing its coal business There is a sluggish tempo in dry bulk S&P, with very few sales to report. However, broking sources reveal one active buyer, Indonesia's Gurita, bidding repeatedly under the radar. The cabotage-focused owner has added its third supramax in a year and has sealed its third deal since October, tabling just under $15m for the 14-year-old ...
Maersk's place in liner shipping post-divorce Maersk's role on the main east-west tradelanes looks set to be as a lesser player once the dissolution of the 2M alliance with Mediterranean Shipping Co (MSC) comes into effect in January 2025. Last month's big container news that the two largest liners were to divorce has sparked plenty of conjecture about what 2M's demise ...
Boa offloads OCV Norway's Boa has announced the sale of 2007-built offshore construction vessel to an undisclosed buyer. Closing of the sale is expected during the first half of February. In July 2022, Boa Sub C was awarded a contract by Subsea 7, with commencement scheduled for spring of 2023 and a duration of one year. Subsea 7 ...
Maersk Broker appoints head of offshore and renewables Nicolaj Støvlb'k has joined Maersk Broker as head of offshore and renewables. Støvlb'k worked at Noble Corporation last year briefly in a career that has largely been associated with Maersk, including the company's drilling and OSV divisions as well as at Maersk Line. "I have no doubt that the OSV market is entering a time ...
1999-built tanker sold for scrap undergoes repairs for rebirth in sanctioned trades Ariana's new owner, a Marshall Islands shelf company, bought the tanker from Dubai-based Last Voyage DMCC
CMA CGM link to Bolloré Transport & Logistics deal Bolloré Group does not currently have any plan to divest its Transport & Logistics division, according to media report
Industry must shoulder its fair share of green tech risk, says UK shipping minister Baroness Vere says it is not government's role to completely 'de-risk' green technology investments and industry must raise the current...
Golar to buy New Fortress Energy's stake in floating LNG project Deal involves floating LNG production and storage vessel Hilli Episeyo, which is currently off the coast of Cameroon
Sustainability is the incentive we need, says Wärtsilä chief Shipowners need to know what they should invest in and when. The answer lies in building closer partnerships
Machinery damage dominates latest incident reports Technical incidents have been on the rise for the past decade
The week in newbuildings: CMA CGM orderbook hits $9bn Recent newbuilding orders confirmed in the past week include 12 methanol-fuel boxships for CMA CGM, two LNG tankers for Japanese...
Cosco forms digital ship service joint venture It is envisaged to become a trading and technology platform for businesses, such as machine management, spare parts supply and...
Turkish ports halt operations after powerful earthquakes Dozens of countries have offered to support rescue efforts after two large earthquakes hit Türkiye's southeast and northwest Syria. At...
UK to fund zero-emission vessels UK will allocate $93m for zero-emission vessels and infrastructure to decarbonise the maritime sector
Price cap coalition sets two price levels for petroleum products The Group of Seven nations and Australia have agreed to set a price cap for Russian oil products. It will...
The week in charts: Piracy hotspots | China-Iranian oil trade | Methanol-fuel boxship orders grow Dark-fleet tankers ship one third of Russian oil, dry bulk freight markets remain subdued despite positive sentiment about China's economic...
Daily Briefing EU sanctions have yet to sever Russia's sinews of war | Maersk faces crunch year for integrator strategy | Don't...
Tonne-mile gains and rerouted Russian oil said to 'underpin inevitable owners' tanker market' to 2025 Maritime consultancy McQuilling Services and shipbroker Poten & Partners highlight how the tanker market has benefited from increased tonne-miles and...
Samsung Heavy Industries wins contract to build two new LNG carriers Of the $9.4bn worth of newbuilding sales booked by the South Korean shipyard in the past year, 83% were LNG...
FMC administrative judge rules in truckers' favor in chassis dispute Ocean carriers cannot limit the use of chassis by motor carriers in merchant haulage, the FMC's chief administrative judge said in an "initial" summary decision meant to resolve a long-running dispute.
FMC order for MSC to justify congestion fee marks first under OSRA-22 The Federal Maritime Commission has exercised its first use of new legal authority under OSRA-22 requiring an ocean carrier to justify the reason behind levying a congestion surcharge against a shipper.
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Sharp increase in capacity keeps trans-Atlantic rates under pressure Carriers on the trans-Atlantic find themselves in the curious position of adding capacity to the trade while at the same time having to blank sailings to maintain the supply-demand balance.
MSC extends Asia-USWC string to India as primary market demand wanes With the extended port reach into India, carriers are looking to fill leftover capacity from Southeast Asia as primary market volumes slow and US sourcing within Asia diversifies beyond China, sources say.
Analysts to watch Wallenius Wilhelmsen earnings amid 'growing shadow of the orderbook' Operator may give bullish or bearish stance on sector in fourth-quarter earnings to be released on Wednesday
Tanker owners could opt for slow steaming for years to deal with new carbon rules, BRS says Shipowners may not want to retrofit vessels with emissions-cutting technology until a prolonged downturn in the market, BRS Group said
The more dry bulk stumbles, the more analysts don bull horns Researchers at Deutsche Bank and Fearnleys are counting on the China reopening story to push stocks higher
'Soft period for demand': Panamax bulker rates extend stumble as Atlantic vessel supply mounts Market watcher attributes decline to unmet expectations for dry bulk rally after Chinese New Year
Turkey quake: Boxes catch fire at Iskenderun port after shutdown All other Turkish terminals said to be operating smoothly with no damage to oil pipelines detected
US details petroleum product price cap rules as G7 looks to limit Russian profits Measures setting price cap at $100 per barrel for some products and $45 per barrel for others set in on Sunday
Trafigura: Russia faces product tanker shortage in coming months Senior trader says long-haul transition from European trades will stretch the 200-strong product tanker 'shadow fleet'
'Conservative-minded' Schoeller Holdings plots tanker and bulker fleet renewal Boss Mark O'Neil explains Cyprus-based group's approach to maintaining a shipowning presence
New Fortress sells FLNG Hilli stake in exchange for its Golar-held shares Wes Edens-led company homes in on its own floating LNG production interests while Golar cuts its investment in listed entities
Cargill shipping unit sees 'green' financial indicators in strong 12 months Amid positive performance, diversity improves and customers provide both positive feedback and 'constructive criticism'
'Owners' market': McQuilling tips aframaxes to flourish through to 2025 VLCC sector may be less fruitful as demand expected to fall, US consultancy's modelling suggests
From buyer to seller? India's Gatik linked to first ship disposal Red herring or a change of course? An opaque serial tanker buyer is said to be making a rare secondhand sale
Container ship charter market bottoming out for smaller vessels New services launched by liner operators help fuel demand after several months of falls
Stena AB heading for $1.3bn profit after 'strong performance' Swedish group has benefited from stronger tanker and LNG carrier rates in 2022
Castor says listing of tanker spin-off Toro Corp delayed again Cypriot owner still trying to secure approval for Nasdaq launch
Stolt-Nielsen 'not feeling guilty' about big contract hikes to fund newbuilds Norwegian CEO says big rate increases needed if company is going to spend $750m on fleet renewal
New tanker operators move in as EU's Russian trade ban starts Gatik Ship Management and Hennesea Tankers Corp among first operators loading price-capped oil
Tankers International pool offering CII scores for VLCC voyages International operator trying to ease uncertainty around regulations
Karpowership puts French-built LNG carrier back into action Vessel delivers cargo to KARMOL FSRU, which supplies four powerships off Brazil
UK pledges £77m to develop zero emission ships by 2025 2025 target set for the launch of the country's first zero emission passenger and cargo ships
Fredriksen's ICB takeover trauma may hold clue for Euronav's 'Netflix' saga Clarksons Securities draws parallels between current stand-off and lengthy battle with Angelicoussis Group over Swedish tanker company in the 1990s
Turkey earthquake: Iskenderun port shuts down after 'docks collapse' All other Turkish terminals said to be operating smoothly with no damage to oil pipelines detected
Heinrich Schoeller and Mark O'Neil step up 'friendly' succession planning Schoeller Holdings shipowner still active as CEO reveals aims for 2023 and beyond
Plunging container ship values hit the finance market Sinking boxship values are resulting in 'soft defaults' on loans done when the market was high
Niels Stolt-Nielsen: 'We are looking at a 2023 Stolt Tankers IPO' Debt levels approaching the right level for a spin-off - now timing is everything
Six seafarers dead after incident on product tanker in Nigeria Asphyxiation a possible cause of tragedy on the Halima at Lagos
Plunging container ship values hit the finance market Sinking boxship values are resulting in 'soft defaults' on loans done when the market was high
South Korean car carrier hit by fire off Vietnam Damage not clear after crew tackles blaze on the Ah Shin
Al Seer returns to K Shipbuilding for more MR tanker newbuildings Abu Dhabi-based shipowner gives South Korean shipyard its first newbuilding orders of 2023
Baltic to South Asia tanker tonne-miles up almost 700% in 2022, says Poten China continues to dominate, but Russia's invasion of Ukraine has boosted several other routes
Baltic to South Asia tanker ton-miles up almost 700% in 2022, says Poten China continues to dominate, but Russia's invasion of Ukraine has boosted several other routes
Heidmar brings in former Anglo-American exec to spearhead Asian bulker push Pools group adds Navin Arjun Soni to run Singapore base as it builds dry cargo fleet
Minister to tell MPs why ex-Keppel staff were not prosecuted over Brazil bribes Criminal charges would have been brought if there were grounds and sufficient evidence, says Indranee Rajah
Intermodal truckers secure win against ocean carriers A maritime law judge has ruled that ocean carriers violate the Shipping Act when they limit container chassis choices for intermodal truckers.
Amazon, DHL reduce US cargo flights as parcel volumes soften Air Transport Services Group will see its Amazon business dip this year as the retailer decreases freighter utilization to match slower retail sales.
Airport investment firm taps former Southwest exec for cargo push Burrell Aviation has named an ex-Southwest Airlines director to lure cargo airlines to properties it controls at second-tier airports.
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