SCA names Kevin Terry as senior defense advisor The Shipbuilders Council of America (SCA)has named Kevin Terry as its senior defense advisor, overseeing the organization's national ship repair and security, as well as workforce development and education, initiatives. He is
Quintin Kneen upbeat on Tidewater outlook In another indication of the continuing uptick in the offshore services sector, the largest player in the game, Tidewater Inc. (NYSE: Tidewater) yesterday reported third quarter revenue that president and CEO Quintin
Conception dive boat fire: Captain guilty of seaman's manslaughter The captain of the Conception, the dive boat that caught fire in 2019 with the loss of 34 lives, was yesterday found guilty of seaman's manslaughter. The U.S. Attorney's Office for the
Maersk applies new PSS from Far East to West Coast South America Maersk will implement the following Peak Season Surcharge (PSS) from Far East Asia to the West Coast of South America. The Danish carrier has published below all the details about the upcoming surcharge: Origin Destination Effective Dates Container Type Currency New tariff levels Brunei, China, Hong Kong China, Indonesia, Japan, Cambodia, Korea, South, Laos, Myanmar (Burma), Malaysia, Philippines
Autonomous shipping to get satellite connectivity breakthrough SEAFAR, a provider of remote-control technology and services for unmanned and minimally crewed shipping operations, is incorporating the neXat satellite communications services platform into its remote ship navigation solution designed for the short sea shipping (SSS) sector. This two-year initiative, co-financed in collaboration with the European Space Agency (ESA), is currently undergoing sea t
cargo-partner launches LCL service for dangerous goods Austrian logistics provider cargo-partner has expanded its range of Less-Than-Container Load (LCL) solutions and introduced a new sea freight consolidation service for dangerous goods from China to Europe. In particular, the service is suitable for a wide range of products and industries, including automotive components, car batteries and electronic goods with various types of integrated batterie
Port of Quebec and Novarium partner to boost innovation Novarium, the blue economy innovation campus, announced a strategic partnership with the Port of Quebec, one of Canada's five major ports. This cooperation seeks to build a dynamic ecosystem that promotes innovation, research, and sustainable growth in the marine industry while exploiting the benefits provided by the Port of Quebec's location. Following its strategic goal, the Port of Quebec aims
WiseTech Global acquires Mexican trade software solution provider WiseTech Global, the producer of global logistics execution software CargoWise, announced the acquisition of Sistemas Casa, a Mexican provider of customs and international trade software solutions. Sistemas Casa, founded in 1995 and headquartered in Mexico City, develops and provides a comprehensive suite of customs software solutions to automate administrative and operational customs processes,
Bangladesh begins Matarbari deep-sea port construction next week Bangladesh government will begin the construction of two jetties on its maiden deep-sea port of Matarbari next week. The country's Prime Minister Sheikh Hasina will inaugurate the construction of 460 meters long container jetty and 300 meters long multipurpose jetty on 11 November. The deep-sea port will have a 14 kilometres long, 350 meters wide and 18.7 meters water draft main navigation channe
Jeddah Islamic Port sets new container record in October Jeddah Islamic Port achieved a significant milestone by setting a new monthly record, handling 511,348 TEUs in October and surpassing the previous record set in July, when the Saudi port handled 491,197 TEUs. Mawani, which is the port operator, said the record signals the successful collaboration between Mawani and its strategic partners, as numerous joint projects and agreements have been initia
DP World receives new automated stacking cranes at London Gateway DP World received four new automated stacking cranes (ASCs) at London Gateway, as it continues to invest in port infrastructure to support the UK's supply chain. The latest investment, totalling GB£56 million (US$69 million), coincides with the celebration of London Gateway's tenth anniversary. The new cranes will move containers from the port yard onto lorries bound for consumer markets across t
ZIM relaunches ZEX service to meet eCommerce market needs Israeli box carrier ZIM announced the relaunch of ZIM eCommerce Xpress (ZEX), its eCommerce line connecting South China to the US West Coast. Originally introduced in 2020, the ZEX service returns in view of the recent evolving needs of the eCommerce market, said the company. The ZEX service is set to resume with the following port rotation: Xiamen (China) - Yantian (China) - Los Angels (Californ
Spot box rates lose momentum after four weeks Four weeks of gains in spot container freight rates are expected to evaporate as mainline operators continue chasing market share despite weak demand. While Transpacific rates were still up when the Shanghai Containerised Freight Index (SCFI) closed on 3 November, Shanghai-North Europe rates have begun retreating as carriers are adding capacity. Shanghai-US West Coast rates climbed nearly 10% fro
South Korean orderbook analysis The following infographic analyses the breakdown of vessels on order in South Korea, the top ordering nations, the key companies investing in South Korean newbuildings, the most valuable vessels on order and the share of dual fuel vessels being built. South Korean Orderbook by Vessel Type Containers are the most popular vessel on order in South Korea, with a total of 263 vessels, followed by LNG
AD Ports acquires 10 offshore vessels for US$200 million AD Ports Group announced the purchase of ten offshore vessels to strengthen its offshore activities in the Middle East and Southeast Asia. The investment is around US$200 million in a well-maintained, diverse fleet with an average age of approximately nine years. All ten vessels are planned to be delivered in the fourth quarter of 2023, with financial consolidation beginning in the first quarter
HHLA boards support MSC deal The Executive Board and the Supervisory Board of Hamburger Hafen und Logistik AG (HHLA) published their joint reasoned statement pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) on the takeover offer by MSC on 23 October. Both boards recommend the shareholders to accept the offer. In negotiations with the City of Hamburg and MSC, the Executive Board and the Supe
DP World refuses to respond to allegations of Aussie tax avoidance DP World, which is in dispute over rostering plans with the Maritime Union of Australia (MUA), has refused to respond to the unions' allegations that the company has not paid a cent in taxes in eight years. The dispute erupted in October as the Dubai port and logistics operator had announced plans to change work rosters to meet the demands of an economy that operates 24 hours a day 365 days a yea
MSC announces port congestion surcharge to South Africa Italian/Swiss container line MSC has announced a new congestion surcharge (CGS) for cargo from any destination except East and West Africa to all South African ports. MSC said the surcharge will be US$210 per TEU only for dry cargo containers and will be effective from 3 December (bill of lading date). The company said the new surcharge will be implemented "due to the congestion in the South Afri
Maersk to implement new Peak Season Surcharge from Far East to East Coast South America Maersk has announced a new Peak Season Surcharge (PSS) for 20dry, 40dry, 40hdry, and 45hdry containers from the Far East to the East Coast of South America (ECSA). The surcharge to ECSA destinations will be effective from 3 December for Taiwan origin, from 18 November for Vietnam origin and from 16 November for all the other Far East countries. Origin Destination Effective Dates Container Type Cu
Maersk opens seven new facilities in Australia Danish shipping company Maersk has decided to strengthen its omnichannel-fulfillment capabilities in Australia, opening seven new facilities across the country. The expansion plans coincide with Maersk's 30th anniversary in Australia. The new facilities are part of the company's global integrator strategy. Four sites have already opened earlier this year, while the remaining three will be ready u
ONE commences Thailand Singapore Express service Ocean Network Express (ONE) announced the launch of the new Thailand Singapore Express (TSX) service. This new dedicated Shuttle Service will give customers a quick transit time between Thailand and Singapore, as well as great connectivity and transit times for cargo travelling on the Asia Europe Trade, according to the company. The new TSX service is designed to deliver reliable and high-quality
McDermott wins work with ONGC offshore India US subsea and deepwater engineering and construction player McDermott has been awarded a large transportation and installation contract by India's Oil and Natural Gas Corporation (ONGC) for a project located off the east coast of the country. Under the scope of the contract, McDermott will perform the transportation and installation of a central processing platform ...
Lomar cuts boxship exposure Lomar Shipping has continued to be active on the containership sell side as it shifts its fleet towards bulk carriers and chemical tankers. The UK-based diversified shipowner of Libra Group has seen four boxships exit the fleet bringing in nearly $39m. The 2002-built, panamax 3,237 teu sister vessels Velika Express and Mirador Express estimated as ...
Scorpio Tankers offloads 11-year-old MR2 in $34m deal Monaco-headquartered Scorpio Tankers has cashed in on one of its MR2s recently purchased out of a sale and leaseback arrangement in China. The New York-listed product tanker owner has offloaded the 2012-built scrubber-fitted for $33.9m, according to brokers. The Emanuele Lauro-led company bought the ship back from Bank of Communications Financial Leasing for about $8.2m, ...
Croatia's Tankerska to make takeover bid for bulker player Atlantska Plovidba Croatia's Tankerska Plovidba will launch a takeover bid for compatriot bulker owner and operator Atlantska Plovidba. The Zadar-based diversified owner led by Mario Pavic informed the market through the law firm Mamic, Peric, Reberski, Rimac of its obligation to launch a takeover offer to buy the 60.9% it does not already own in Zagreb-listed Atlantska. ...
El Niño wreaks havoc on global shipping patterns Across every continent shipping is having to contend with the fallout from this year's El Niño, a weather phenomenon that has helped cut drafts along major waterways, slashed agricultural production in key export markets, and could herald a stormy Pacific for vessels to contend with in the coming months. El Niño is a weather pattern ...
Wärtsilä to ditch shipping gas solutions business Finnish marine technology firm Wärtsilä is selling off its gas solutions business as part of the move to further streamline its organisation. The company said its provider of gas processing systems has limited synergies with the rest of its marine product portfolio. The unit, which delivered net sales of around €293m between Q4 2022 and ...
Polemis buys VLCC pair from SK Shipping Shortly after Adam Polemis' New Shipping made $14m on a 21-year-old VLCC bought six years ago, the famous Greek owner is back in the secondhand market, adding two modern 10-year-old VLCCs. Broking sources link the company to a deal with South Korea's SK Shipping, tabling some $132m for two 314,000 dwt tankers, named C.Spirit and ...
HGK seals charter and newbuilding deal with steelmaker Salzgitter Germany's HGK Shipping, one of Europe's top inland shipping names and compatriot Salzgitter, the country's second-largest steelmaker, have penned a long-term charter deal for three dry cargo ships. The deal also involves a newbuild vessel designed to meet the requirements of the Salzgitter Group and cope with the western German canal region. The development follows ...
AD Ports buys $200m worth of offshore vessels from E-NAV Abu Dhabi's AD Ports Group has purchased ten offshore vessels that are supposed to bolster offshore operations in the Middle East and Southeast Asia. The investment is around $200 million, into a well-maintained, diversified fleet with an average age of around nine years - less than the industry average. All ten vessels are expected to ...
Diamond Offshore inks two new rig deals Houston-based Diamond Offshore Drilling has received $240m in new contract awards in the UK North Sea. The New York-listed company said that the second and third priced option wells for the 2016-built harsh environment semi-submersible Ocean GreatWhite were exercised by British major BP in the UK with an estimated duration of 60 days each. The ...
Seven Islands moves for another MR Fast-growing Seven Islands Shipping is sourcing plenty of tankers to serve India's growing energy demands. Its latest registered deal is the 14-year-old, Iwagi-built, 48,000 dwt Vanda, paying Adora Holding $23.5m for the tanker. This is the fourth MR Seven Islands has added this year and the third MR purchase in as many months. The Indian ...
KR launches XR-based ship familiarisation solution Classification society Korean Register has launched KR-Real360, a 360-degree XR (eXtended Reality)-based ship education and training program. KR-Real360 has been developed to provide users with the educational information necessary for ship operation and maintenance using the latest XR technology. Users can effortlessly locate educational resources, such as operation manuals, survey data, and che
Are shipmanagers doing enough to retain crew? Peter Schellenberger, founder of maritime consultancy Novamaxis, has some advice to keep crew happy. I was really intrigued by the statements of the world's largest shipmanagers during the recent Maritime CEO Forum held at the Monaco Yacht Club which I was very happy to attend. While the argument of scale and subject matter specialist environments ...
Ardmore Shipping sees 'market at inflection point' Ardmore Shipping posted strong third-quarter earnings and said the EU's embargo on refined products bodes well for the market. It...
International Seaways beats expectations and fattens dividend again Lois Zabrocky-led International Seaways sails to another strong quarter, reporting earnings per share of $1.99, above Jefferies' expectations of $1.75...
Industry disquiet grows over Panama's plans to deal with canal crisis Drought-induced delays and restrictions in the Panama Canal have angered shipowners who are incensed by increased costs, but no sign...
DHT third quarter rates hurt by Opec+ cuts, but fourth quarter looks stronger A robust opening to the quarter was tapered by Opec+ production cuts, DHT says, although the rates fell to lows...
Containership charter rates still trending down but demand rising for larger ships Number of fixtures has picked up considerably however charter periods are strictly on a short-term basis
HHLA board backs MSC's takeover bid MSC's bid for 49% of Hamburg's terminal operator has moved a step closer after HHLA's board recommend shareholders accept the...
Canadian shipping law firms maintain independence 'Obviously Canada is a much smaller market than the US. But proportionately we'd be something like Blank Rome, which has...
Iran's oil exports remain elevated as US lawmakers push for more restrictions Iran's oil exports remained strong in October but dipped below 1.5m bpd for the first time since July. Tehran's backing...
China dominates surge for dual-fuel tonnage China's relatively abundant human capital and investments compared with its foreign rivals are said to be partly why it has...
Wider sulphur spreads to support east of Suez VLCC scrubber premiums, BRS says VLCC scrubber earnings to benefit from wider VLSFO prices in the fourth quarter, while HSFO values could remain muted
Miller hires Tsakos London MD Williams becomes head of new business
Global box volumes continued to flatline in September Last September marked the collapse of the pandemic volume boom. While volumes have since picked up, when compared with historic...
Zim relaunches Los Angeles express service Zim dropped its e-commerce express service earlier this year. Now, it is returning with short transits and expedited shipments
Daily Briefing Shipowners shift antitrust campaign to UK after EU loss | New EU sanctions expected to tighten price cap and target...
Breakbulk sector poised for boost amid rising commodity prices Commodity prices continue to rise, leading to further investments in mining, agriculture and oil and gas projects, all of which is good news for breakbulk and project shippers and their service providers.
J. B. Hunt-BNSF launch new intermodal service to grab time-sensitive freight The premium service run by the long-time partners aims to capture so-called just-in-time cargo that has historically been shipped via truck.
Mobile looks to boost container terminal capacity to handle intermodal demand Once fully complete by 2025, the current expansion project would allow the port to handle 1.1 million TEUs annually, up from 650,000 TEUs.
India-US cargo flow buffeted by blank sailings, sliding schedule reliability On top of the sailing cuts, some recent vessel arrivals at India have been behind schedule by up to a week, resulting in cargo rollovers, according to forwarder sources.
Capesize bulker bounces back over $20,000 per day but El Nino presents 'wildcard' Spot rates are higher than forecasted as supply is tighter than expected, analyst says
Safe Bulkers sticks to strategy and dividend amid lower profit US-listed company counts on newbuildings and environmental upgrades to boost future earnings
Tidewater expects favourable supply-demand balance in offshore oil and gas markets into 2024 New York-listed owner posts $26.2m in third-quarter profit
Cadeler-Eneti merger breezes through antitrust screening as tender moves forward Wind player Cadeler trots out its tender for all Eneti shares in US securities filings
Crowley faces sexual assault lawsuit brought by female cadet 'Jane Doe' was allegedly raped while serving on Military Sealift Command ship November 2022
Oldendorff raises concerns over 'stability and degradation' of biofuel blends Study with MIT recommends use of biocides and antioxidants to deal with problems in fuel tanks
Rapid growth in wind-assisted ship orders as regulations drive investment decisions Wind-assist solution orderbook climbing rapidly as energy efficiency and emission regulations loom
MAN Energy Services to supply methanol dual-fuel engines to Wallenius Wilhelmsen newbuildings Engines to be methanol-capable and ammonia-ready
New Fortress closes financing but awaits FSRU on next up Brazilian terminal LNG carrier-to-floating storage and regasification unit conversion due for completion in Singapore this month
US could return to aggressive sanctions regime, warns BRS Moves in Venezuela and the House of Representatives could change Washington's posture
Ardmore profit dip is slimmer than expected as product tanker momentum builds New York-listed shipowner posts rising fourth-quarter bookings
CJC brings in trio of Ince lawyers led by Chris Kidd to reinforce growth strategy Shipping law firm becomes latest to hire from troubled UK rival
Crushing it: International Seaways delivers earnings beat and more dividends New York owner declares options on two dual-fuel LNG-ready LR1 newbuildings in South Korea
DHT earnings fail to excite investors despite Clarksons preaching upside Dividend policy and strengthening tanker market should temper investor fears, Morkedal says
Galtung Dosvig's EGD Holding banks healthy profit from latest tanker sale Norwegian owner sells 2009-built vessel for nearly $8m gain
Brokers tip offshore supercycle as secondhand OSV prices rise by $1m a week Optimism abounds in markets buoyed by a lack of new ships and better demand
AD Ports swoops on E-Nav Offshore fleet in $200m raid The deal nearly doubles the size of Abu Dhabi ports, shipping and logistics giant's offshore fleet
India's Seven Islands expands - again - striking deals for product tanker trio Pinto family and Prem Watsa-controlled owner snaps up product ships in busy sale-and-purchase markets
New LNG bunker vessel recruits boost European supply capacity Peninsula puts first vessel to work as newbuilding heads for new home with Titan
UK P&I Club and Britannia to raise premiums at February renewals Britannia also commits to a $10m capital redistribution to its shipowner members
Russian coal exports set for dramatic cut next year, but not for the reason you might think Loadings of the Russian commodity are up by 16% this year to date, but exports are expected to fall by around 10m tonnes per year
Consolidation in Croatia as Tankerska launches $69m bid for bulker owner Atlantska Zagreb-listed companies would have combined fleet of 33 vessels if takeover succeeds
New LNG bunker vessel recuits boost European supply capacity Peninsula puts first vessel to work as newbuilding heads for new home with Titan
UK P&I Club and Britannia announce rate rises Britannia also commits to a $10m capital redistribution to its shipowner members
AD Ports swoops on 10 E-Nav Offshore ships in $200m raid The deal nearly doubles the size of Abu Dhabi ports, shipping and logistics giant's offshore fleet
Indian yards to build 24 tankers, bulkers and container ships for Russia Newbuildings will all be delivered before 2027 to boost Caspian Sea trade
A Cypriot in Piraeus: Greece makes unusual choice for shipping minister Following a ferry fiasco in September, Greece puts an outside technocrat in charge of shipping
Saudi Aramco's profits drop amid crude supply cuts and lower prices Cuts in Saudi supply to affect the largest crude carriers with most of its exports hauled on VLCCs
Car carrier owners unfazed by newbuilding glut as cars get loaded into containers An extremely tight market has Chinese automakers turning to 'suboptimal' solutions
Greeks in the frame as SK Shipping linked to sale of up to four VLCCs South Korean owner said to have offloaded 2013-built pair, as well as older vessels
Saudi Aramco reports lower profits after export cuts Cuts in Saudi supply affect the largest crude carriers with most of its exports hauled on VLCCs
Ro-ro owners unfazed by orderbook as cars get loaded into containers An extremely tight market has Chinese automakers turning to 'suboptimal' solutions
Norway to remain an offshore shipbroking hub despite vessel exodus Fearnley Offshore Supply argues the traditional broking powerhouse has a 'unique ecosystem'
Maersk's revival in charter market activity faces uphill battle against falling rates Carrier delves back into market after massive correction in rates
Norway's Seabrokers launching 'helicopter-plane' service for remote regions Offshore shipping brokerage joining forces with Wideroe Zero and Strawberry for new project
Gunvor linked to five-year charters for new AMPTC clean tankers Trader's Clearlake shipping subsidiary said to be beefing up product carrier capacity
NYK Line and JP Morgan the 'big spenders' at South Korean yards, says VesselsValue The high value of orderbooks due to the number of LNG carriers inked
China Merchants poised to order kamsarmax and multipurpose newbuildings CMHI Jinling is to build the conventional-fuelled ships for delivery in 2026
What downturn? US imports still rising, highest since boom Containerized imports have rebounded strongly in 2023, with October volumes up 33% from February's low.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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