Capital and and EPS sign orders for giant ammonia carriers With seaborne carriage of ammonia cargoes predicted to soar, HD Korea Shipbuilding & Offshore Engineering has booked orders to build the world's first four next-generation 88,000 cubic meter eco-friendly very large ammonia
Artemis launches all-electric EF-12 pilot Belfast, Northern Ireland, based Artemis Technologies has taken its all-electric foiling craft technology into the pilot boat sector, unveiling the EF-12 pilot. Artemis first demonstrated its foiling technology on the water in
Austal USA books $91.5 million Navy LCU contract Naval Sea Systems Command has awarded Mobile, Ala. based Austal USA a $91,535,55 fixed-price incentive and firm-fixed-price type contract for the construction of three Landing Craft Utility (LCU) 1700 class craft. The
Ports of Kaohsiung and Busan ink sister port deal The ports of Kaohsiung and Busan signed a sister port agreement in a ceremony on 29 August at the headquarters of the Busan Port Authority (BPA) in South Korea. Taiwan International Ports Corporation (TIPC) vice president & Port of Kaohsiung CEO Chin-jung Wang and BPA vice president Ja-Rim Koo signed the deal, which was witnessed by TIPC chairman Hsien-yi Lee, BPA president Joon-Suk Kang, and Tai
Maersk successfully undertakes its first multimodal Sea-Air solution via Oman Maersk in collaboration with Port of Salalah and Oman Airports, undertook a Sea-Air logistics solution via Oman for cargo moving from Colombo, Sri Lanka, to Cairo, Egypt. More specifically, the pilot cargo movement on the Sea-Air solution is a shipment of retail and lifestyle cargo from Colombo in Sri Lanka to Cairo in Egypt. According to Maersk, the first leg of transportation was carried out on
Konecranes refreshes leadership team Konecranes has announced changes in its leadership team, first by appointing Juha Pankakoski as executive vice president of Port Solutions and member of the Konecranes leadership team. Pankakoski starts in this position today (7 September) and will report to Konecranes' president and CEO Anders Svensson. Additionally, Juha Pankakoski will succeed Mika Mahlberg, as executive vice president of Port
Port of Gdansk invests in road infrastructure In the area of the Balti Hub container terminal, the Port of Gdansk has finished the construction of an internal road, as well as a rainwater drainage system and utilities. This investment has made it feasible to get access to attractive areas planned for commercialization. This concrete-surfaced road is about 350 meters long and 7 meters wide. It lies between Kontenerowa and Antoniego Grabarczyk
Port of Riga opens new solar panel park Baltic Container Terminal (BCT), which operates in the port of Riga, has invested more than €1 million (US$1.1 million) in the construction of a new solar panel power plant, which will eventually replace part of the electricity required for the company's operation with green energy. Some 1,974 solar panels were put on the 11,600 m² warehouse roof on the company's property. The overall capacity of
Xeneta: Carriers drive up ocean freight rates on main Far East to USWC trade with savvy capacity cuts After a year of plunging ocean freight rates, carriers appear to have turned the tide on the key China to US West Coast trade, driving up spot rates by 73% since the end of June. In a blow to shippers, many of whom have been reluctant to sign new contracts in an atmosphere of uncertain US consumer demand, long-term rates appear to be following suit. The latest market data from Oslo's Xeneta shows
Port of Corpus Christi appoints new CEO The Port of Corpus Christi Commission agreed in a special meeting on 6 September to advance chief financial officer Kent Britton to the post of full-time chief executive officer, following a rigorous three-month search that included applicants from around the country and industry. Since 1 June 2023, Britton has served as interim CEO. Britton previously served as chief financial officer for the Gl
Telematics can expedite decarbonisation of the container sector S upply chain stakeholders recognise the commercial advantages conferred by container telematics, but its potential contribution to decarbonisation is consistently underestimated, says ORBCOMM's Christian Allred, Executive Vice President and General Manager of International Sales . Shipping practices are currently evolving to comply with progressively stricter and complex regulations as the indus
Maersk, Amazon finalise ECO Delivery deal A.P. Moller - Maersk and Amazon have finalised a 2023-2024 agreement for the transport of 20,000 FFE containers using green biofuel through Maersk's "ECO Delivery" ocean product offering. Maersk believes this purchase will contribute to a reduction in 44,600 metric tons of CO2e vs standard bunker fuel, roughly equivalent to 50 million pounds of coal burned. This is the fourth consecutive year tha
OOCL receives new 24,000+ TEU container ship Orient Overseas Container Line (OOCL) has received OOCL Zeebrugge, the fifth eco-friendly 24,188 TEU container vessel in a series of twelve. According to a statement, SHI Lei, deputy general manager of SUMEC CORPORATION LIMITED and Chairwoman of SUMEC Machinery & Electric, named the vessel in the presence of a number of guests, including customers and business partners, at a ceremony held at the
Tsakos Energy Navigation reveals MR newbuild orders Tsakos Energy Navigation (TEN) has lifted its newbuilding orderbook to 10 ships. The Greek tanker and LNG carrier owner revealed in its second-quarter earnings report that it had recently contracted a pair of MR product tankers at an unnamed shipyard. The New York-listed company disclosed no further details except that the scrubber-fitted ships will deliver ...
Vafias ships out tanker pair to spin-off Imperial Greek tanker and bulker owner Imperial Petroleum has agreed to acquire two tankers from affiliate companies owned by its CEO Harry Vafias. Imperial Petroleum said in a statement that it bought the 2009-built aframax tanker Stealth Haralambos and the 2008-built MR2 product tanker Aquadisiac built in 2008, with an aggregate capacity of approximately 163,716 dwt. ...
Winning orders first VLOCs as Guinea bauxite trades leap Singapore-based Chinese capesize specialist Winning International Group has placed an order at CSSC yard Qingdao Beihai Shipbuilding for the construction of two very large ore carriers to facilitate the company's West Africa to China seaborne trade. The so-called WinningMax 325,000 dwt newbuilds, classed by the China Classification Society and DNV, will be nearly 330m long, ...
GMS launches demo ship sale platform GMS, the world's largest cash buyer of ships for recycling, has launched its pioneering digital platform, the Ship Recycling Portal. The platform was introduced at an event in India attended by over 80 leading ship recyclers. The Ship Recycling Portal is a specialized vessel auction platform designed to streamline the sale of ships directly to ...
Sirius Shipping orders methanol-ready tankers Swedish tanker owner Sirius Shipping has placed an order for up to four methanol-ready oil and chemical carriers in China. The firm two 15,000 dwt ships will be built at China Merchants Jinling Shipyard in Yangzhou with the first delivery expected in 2026. The 147-m-long vessel of the so-called Evolution 15K series has been designed ...
Octopus Energy joins Knutsen's wind venture as investor Norway-based developer Deep Wind Offshore has brought in Britain's Octopus Energy as a new investor as it looks to speed up international expansion and strengthen domestic projects. Octopus will join the ownership side of the company, together with the existing industrial owners Norwegian shipping giant Knutsen OAS, utility Haugaland Kraft and generation, transmission and distribution ...
Megamax newbuilds idle as carriers try to 'turn the tables' with shippers Giant newbuilds being forced to idle ahead of a maiden voyage for months on end is never a good sign, and is something that is now a reality for the container trades where fortunes have nosedived over the past 15 months. Measuring 399.9 long, the giant 24,346 teu MSC Micol (see video below) was meant ...
Samsung Heavy supersizes ammonia carrier designs with 200,000 cu m vessel South Korean shipbuilder Samsung Heavy Industries (SHI) has developed a 200,000 cu m ammonia carrier. The new design, unveiled at this year's Gastech event in Singapore, has been granted approval in principle by compatriot class society Korean Register. The ship has been designed to carry large quantities of ammonia, using its cargo as fuel, and ...
Empire Navigation pleads guilty to shipping Iranian oil Greece's Empire Navigation has admitted to violating US sanctions by shipping a cargo of Iranian crude oil aboard the suezmax tanker . In April, Washington seized the Marshall Islands-flagged tanker after it was caught transferring oil off Singapore. Following the arrest, Empire Navigation entered into a deferred prosecution agreement with the US, pledging to transport ...
Ørsted and Hitachi Energy extend offshore wind partnership Danish renewable energy developer Ørsted and Hitachi Energy have extended their offshore wind farm collaboration by three more years. The two firms extended a framework agreement which will see Hitachi Energy continuing to support Ørsted's global offshore wind farms. The projects which Hitachi will be supporting will include the 1.5GW Skåne offshore wind farm in ...
Hapag-Lloyd races ahead of the likes of Ferrari, Maersk and Shell in 2022 profitability survey Shell, BP, luxury brand Hermes and the prancing horse that is Ferrari have all been left in the tracks of a certain German liner in a new survey measuring the most successful European Union companies by profit per employee. Remarkably, Hamburg's Hapag-Lloyd made more than £1m ($1.25m) per employee last year in a new survey ...
Equinor and Posco team up to build world's largest floating offshore wind farm Norwegian energy major Equinor has teamed with Posco International to develop the world's largest floating offshore wind power complex. The Firefly floating wind farm will have a total capacity of 750MW by installing 50 units of 15MW floating offshore wind turbines offshore Ulsan. The planned project eclipses the currently largest operational floating offshore wind farm, ...
Doris to provide engineering services for BP's offshore wind projects Engineering and project management firm Doris has been awarded a framework agreement by energy giant BP for the provision of engineering services to the latter's offshore wind projects. This framework will see Doris support BP globally drawing on its 20-year track record in offshore wind. Across the five-year agreement, Doris will provide engineering for scopes ...
Ryan Petersen returns as CEO at Flexport After a year in the role, Dave Clark has stepped down as CEO at Flexport with the company's founder Ryan Petersen returning to take the day-to-day helm at the digital freight forwarder. Clark joined the San Francisco-based freight forwarding and customs brokerage Flexport last September having worked for Amazon for 23 years previously. Petersen moved ...
Colombia delays first offshore wind licensing round Colombia's first bidding round to license permits for the development of offshore wind farms has been delayed with no new date in sight. The Colombian Ministry of Mines and Energy said earlier this week that it was still working with the country's Maritime Directorate and the National Hydrocarbons Agency on finalising the tender documents for ...
Louis Dreyfus and GTT among new investors in Spanish suction sail manufacturer Wind propulsion as a centrepiece of shipping's decarbonisation pathway continues to gain traction. Agricultural giant Louis Dreyfus Company, LNG containment system leader GTT and the European Commission are among the parties to have invested in bound4blue's €15.9m ($17m) Series A funding round, becoming shareholders of the Spanish suction sail company. The funds raised will be used to ...
James Lightbourn joins Sterling Shipping as partner Christopher Fjeld-led bulker play Sterling Shipping has welcomed James Lightbourn as a partner and chief financial officer. Most recently Lightbourn advised on capital raises and strategies as an investment banker at Arctic Securities, where he worked with transportation companies including Sterling.In his new role, he will focus on bolstering Sterling's capital base, growing its fleet, ...
MSC and ZIM sign new operational collaboration agreement Israeli carrier ZIM has renewed ties with Mediterranean Shipping Co (MSC), the world's largest carrier. The new operational agreement includes services connecting the Indian subcontinent with the East Mediterranean, the East Mediterranean with Northern Europe, and services connecting East Asia with Oceania. The agreements between ZIM and MSC include vessel sharing, slot purchases, and swap ...
Maersk and TotalEnergies lose $187m Danish Supreme Court tax case A.P. Moller - Maersk and TotalEnergies were dealt a blow by the Danish Supreme Court this week in a long-running dispute with the country's tax authorities over income from oil and gas businesses in Algeria and Qatar. The case involving the alleged misuse of transfer pricing was filed by the Danish Ministry of Taxation, claiming ...
Shipping could face carbon-neutral fuel shortage on decarbonisation path It is likely that the shipping industry will find it challenging to secure an adequate supply of carbon-neutral fuels in the future, according to DNV's new Maritime Forecast to 2050. Increasing regulatory pressure to decarbonise, including stricter targets set by the International Maritime Organization (IMO) this July, means the shipping industry now needs to achieve ...
TEN inks MR orders in China as profits soar Greece-based owner redeems another $107m in preferred shares, adding to annual cash savings
Idan Ofer accelerates ammonia ambitions A rash of agreements with class, yards and engine manufacturers, another series of very large ammonia carriers and a promise...
Sweden's Sirius Shipping orders methanol-ready chemical tanker pair New 15,000 dwt chemical tankers have been ordered from China Merchants Jinling and feature a hybrid-battery system and electrical shore...
London still top location for maritime arbitration Brexit has not threatened London's status as the most trusted jurisdiction, says law firm HFW
Details of Ukrainian state war risk deal available soon, promises Marsh Lloyd's confirms 'active discussions' with United Nations but will only authorise cover if grain corridor is resurrected
Container volume growth continues to flatline Key headhaul trades have seen limited growth or declines so far this year. Increased demand elsewhere is helping prop up...
Winning International orders two VLOCs with CSSC's Beihai Shipbuilding The Singapore-based group expects the newbuildings to support mining projects in Guinea
Former top official joins Cosco Shipping leadership Two of the five deputy presidents at Cosco Shipping have no experience in shipping industry, but this is not unusual...
Attica CEO resigns after 'unjustifiable' passenger tragedy Crew federation says that the shocking incident does not represent 'vast majority' of Greek seafarers
New concept LNG carrier aims to meet decarbonisation challenge The concept boasts increased cargo space and also provides a solution to help owners avoid making investments in vessels that...
Port of Corpus Christi interim chief Kent Britton goes permanent Port of Corpus Christi board chose Kent Britton as its new chief executive after Sean Strawbridge left in June
Zim expands ties with MSC Zim wants to rationalise its services as the market normalises. An extended agreement will see it work with MSC on...
Shipping and decarbonisation: An inconvenient truth? There is a dangerous credibility gap between the shipping industry's rhetoric and reality when it comes to decarbonisation and these...
Daily Briefing Greek owners very active in secondhand market again in 2023 | Tankers brace as Saudi and Russia slash production through...
Drayage industry faces technology dilemma in down freight market While the importance of drayage came to the fore during the pandemic, the current freight hangover is cramping the sector's ability to take advantage of technology options on the market.
Zim, MSC ink cooperation deal on services linking Asia, Europe and Med Facing an operating loss of up to $500 million for 2023, Zim hopes the sharing arrangement with its larger competitor will help drive efficiencies "amidst continued near-term headwinds."
Maersk, Amazon ink 20,000-FEU green fuel transport deal The agreement involves the latest in a series of alternative fuel products being rolled out by major ocean carriers and global forwarders as regulators tighten emissions controls.
Clark departs Flexport amid differences with founder over strategic shift A difference of opinion over Flexport's strategic shift toward fulfillment aimed at small businesses has prompted CEO Dave Clark to depart the company only a year after he came aboard.
'China, save us all!': Capesize bulker market rebounds as Australia-to-China rates surge China's year-to-date imports of iron ore and coal increase year over year, despite real estate woes
Wind propulsion company scores funding from EU and big-name investors Spain's Bound4Blue brings total Series A fundraising to €22.4m with help of GTT and Louis Dreyfus Co
Zelenskyy calls for help with Odesa air cover to defend new grain corridor Without Russian acquiescence, Ukraine faces an uphill struggle to export its own grain by sea
Heads roll in Greece after outcry over ferry passenger death The chief of Greece's top ferry firm and the master of its biggest port are sacked after seafarers dump would-be passenger overboard
Imperial Petroleum buys two secondhand tankers from Vafias-backed shipowners for $71m Both ships hold a combined market value of $61.2m, according to online valuation platform VesselsValue
Goodbye for now, GoodBulk: Former bulker owner eyes a new era after selling capesize fleet Cash is being returned to shareholders as company assesses 'potential new opportunities' in dry bulk
London shipping: Are the Baltic Exchange and FFA market experiencing the 'seven-year itch'? CEO Mark Jackson may be holding together a fractious shipping community but he's not seeing the effort in a negative light
Ammonia moves afoot as Japanese owners back emerging ship fuel Global Centre for Maritime Decarbonisation and SGMF team up to work on together on ammonia
Tsakos Energy inks newbuildings and raises shareholder payout amid bumper profit US-listed Greek shipowner reveals ordering pair of MR newbuildings
Sirius Shipping joins methanol-powered ship buying spree Swedish owner puts in order for two vessels, its largest upon delivery in 2026
Russian prosecutor declares ITF union 'undesirable' and threat to nation State body says 'English' organisation accused of acting in the interests of western governments
Attica Group CEO steps down after outcry over passenger death Greece's biggest firm is under fire after its seafarers dumped a would-be passenger overboard
Bahri beefs up product carrier fleet in term deals for AMPTC LR2 product tanker newbuilds Trafigura also linked to period charters of aframaxes
Tanker owners pull ships from secondhand market with higher rates ahead Analysts and brokers note lack of impetus as sellers refuse to chase prices downwards
London law firm Stann makes waves after setting free the Ever Given Partner Faz Peermohamed has represented shipowners and their insurers in some of shipping's biggest casualties
Empire Navigation admits role in Iranian oil smuggling operation Greek operator agrees to pay $2.47m and to help the US government unload the cargo of sanctioned oil in Houston
Shipping regulator IMO urged to push slow-steaming rules to cut 'ocean roadkill' Scale of the problem is under-reported with 75 animals at risk of harm from ship strikes, researchers warn
Hamburg Commercial Bank named as lender behind MPCC's Lomar fleet deal UK law firm WFW says it advised the German lender on major sale-and-purchase transaction
Strong marine sector contributes to bumper profits at Lloyd's of London Premium and profits are up in historic insurance market's marine and aviation segment
Russia's IMO role hangs in balance after threats to Black Sea shipping Elections for the 40-strong council are due in 2023 after a two-year term marked by war and turbulence for international shipping
Stolt-Nielsen joins bond queue as Bonheur sells $56m issue Chemical tanker group is the latest owner to strike while financing iron is hot
Israel's Zim and container giant MSC cement co-operational deal on several trades Israeli carrier seeks to benefit financially from agreement with world's largest carrier
Viewpoint: There is no more time to waste in 'decarbonisation's decisive decade', says DNV Maritime Chief executive Knut Orbeck-Nilssen believes decarbonisation targets hang in the balance and focusing on fuels alone can distract shipping from making an impact this decade
Wavelength: How can seafarers be protected from sexual violence where impunity reigns? Just as on land, few sexual assault cases at sea are ever prosecuted
Logothetis and shipowner partners pump more cash into fuel tech group SulNOx Greek investor now controls 22.5% of company that increases fuel efficiency
Sterling Shipping targets fleet growth as banker James Lightbourn joins as partner Former Arctic Securities executive also becomes CFO at Malta-based kamsarmax owner
Danish court rules against Maersk and TotalEnergies in $187m tax evasion case Legal action arose from oil business in Algeria and Qatar between 2006 and 2008
Greek shipowner Empire Product Tankers fleet on the move as MR2s change hands Stamatis Molaris Oslo spin-off is eerily quiet while some of its vessels are emerging with new owners
Inquiry clears South Africa of shipping munitions to Russia on a sanctioned vessel Inquiry finds the Lady R was delivering military equipment from Russia to South Africa - not the other way around
Greek shipowners swoop for bulk carriers as major economies defy headwinds High-quality supramax, ultramax and panamax ships keep finding their way to Hellenic shores
Euronav VLCC charter beats spot market as it eyes higher earnings Belgian owner 'delighted' with deal for 2016-built Donoussa
Aussie state backs green bunker hub study to the tune of $320,000 Work will look at using plantation forestry residue, like harvest trimmings or damaged timber to produce green methanol.
China's property woes presents 'downside risk' to economy but there is hope for dry bulk One market expert says country's real estate woes are 'behind us' so dry bulk market should benefit from economic revival
Golar's second FLNG unit set to leave Singapore early next month Final voyage preparations are being made for the FLNG Gimi before it sails for Mauritania and Senegal
Shipping needs to pull out all the stops in critical decade, DNV says Classification society suggests onboard carbon capture and storage and nuclear propulsion as potential solutions as emissions regulations tighten
Time to start worrying again about rising cost of ship fuel Fuel costs were overshadowed by skyrocketing freight rates amid the supply chain crisis. Now, fuel costs are much more important.
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