Frontline pulls out of Euronav acquisition The wedding is off. John Fredriksen controlled tanker giant Frontline plc is no longer to pursue the tanker mega merger with Antwerp-headquartered Euronav NV first announced back in April last year. The
New propeller blades yield 11% fuel savings on Scandlines hybrid ferries Copenhagen-headquartered Scandlines has installed new blades on the center propellers of the two battery-hybrid ferries it operates on the Gedser-Rostock route between Denmark and Germany. This has optimized the vessels for their
FMD introduces its first high-speed engine Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is expanding its naval defense capabilities by offering the nForcer FM 175D engine, its first engine designed for high-speed applications. With
Sembcorp Marine completes third Norled zero-emission ferry The third of three identical battery-powered zero-emission ROpax ferries built by Singapore's Sembcorp Marine has been handed over to Norwegian ferry operator Norled AS. The vessel, the Leikanger, is now headed to
ABS and HD Hyundai to continue cooperation on autonomous projects ABS and HD Hyundai have signed a comprehensive memorandum of understanding (MoU) to continue working together on industry-leading autonomous projects. The agreement builds on the two organizations' shared efforts to expand the
Evergreen to compensate US$676,000 for oyster damage in Ever Forward grounding The US state of Maryland has ordered Taiwanese liner operator Evergreen Marine Corporation to pay US$676,000 to rectify damage to the oyster beds in Chesapeake Bay, following the grounding of the 12,118 TEU Ever Forward in March 2022. In a notice following a meeting on 4 January, Maryland Board of Public Works stated that it had approved an offer from Evergreen to pay US$676,200 to the Department
Record tanker derivative volumes in 2022 Baltic Exchange, source of independent maritime market data, released data about the derivatives market for clean and dirty tankers which showed increased traded volumes for 2022. Specifically, tanker Forward Freight Agreement (FFA) volumes hit 734,972 lots, up 33% in 2021. Baltic Exchange chief executive, Mark Jackson commented, "2022 was another year of growth for the tanker FFA market and a go
New member on executive board of Port of Duisburg Lars Nennhaus has been a new member of the executive board of Duisburger Hafen AG since 1 January 2023. The qualified industrial engineer will replace Prof. Thomas Schlipköther, who left the German port's executive board at the end of 2022 when he reached retirement age. Nennhaus started his career at the Port of Hamburg, and he has already worked for duisport from 2011 to 2018 as managing direct
Greek bulk carrier suffers technical failure in Suez Canal Greek bulk carrier Glory run aground after a sudden technical failure it faced when it was sailing through the Suez Canal, at the 38th kilometre of the canal. Adm. Ossama Rabiee, chairman and managing director of the Suez Canal Authority (SCA), has announced that the SCA salvage unit has dealt with the incident and the vessel, which is among the North convoy on its way from Turkey to China, is no
MSC's new service to connect India with West Mediterranean The Swiss/Italian container carrier MSC has announced the addition of a new India - West Med shipping service from mid-December, which is expected to open a new trade corridor between the key markets of the Indian Subcontinent and Western Mediterranean. The first sailing was planned for 19 December from Khalifa Port in Abu Dhabi with the 4,800 TEU MSC Shanghai. The service rotation includes the p
Hapag-Lloyd's boxship marks Chilean cherry container record at Hong Kong terminal Hong Kong's port and terminal operator Modern Terminals has announced that Hapag-Lloyd's vessel Manzanillo Express arrived in Hong Kong from Chile with a record number of containers carrying cherries from the Latin American country. Manzanillo Express is deployed on Hapag-Lloyd's seasonal Cherry Express service linking Hong Kong with the port of Valparaiso in Chile. According to Modern Terminals,
Ashdod Port invests around US$1 million in five startup firms Israel's major container port, Ashdod Port has signed agreements with five startup companies. The investment of approximately US$1 million is part of the technology incubator that was established as part of the port's innovation strategy that was recently announced. Ashdod port chairwoman of the board of directors, Orna Hausman-Bechor commented, "The decision to invest in startups is a significan
Increased cargo traffic at Saudi ports Saudi Ports Authority (MAWANI) has seen a yearly increase of 13% in cargo throughput during the previous year. In particular, 237 million tons were handled by the country's ports, compared to 210 million tons in 2021. The year-end statistics for 2022 highlight a 3.2% surge in container volumes at 10.4 million TEUs in contrast to 10.04 million TEUs a year earlier. There is also a 5% boom in import
China's Xiaomo Port launches international ro-ro shipping route A total of 215 vehicles loaded on a large ro-ro ship departed from the Xiaomo International Logistics Port in south China's Shenzhen Municipality on 4 January, bound for the Middle East. The departure marked the official opening of the logistics port's ro-ro shipping route linking Xiaomo Port and the Persian Gulf. Xiaomo Port's phase-one project has seen the completion of the construction of two
Box vessel tilts at India's Mundra Port due to stability problems A container vessel lost stability while unloading cargo at India's Mundra Port over the weekend, briefly disrupting normal operations. The Panama-flagged, 1999-built arrived at Mundra International Container Terminal (MICT) from Jebel Ali on 7 January. MICT is operated by DP World under a concession arrangement with the Mundra port owner Adani Group (APSEZ). As a consequence of the tilting, some
HHLA, COSCO close to finalising deal on CTT investment A spokesperson of Hamburger Hafen und Logistik AG (HHLA) has confirmed that the German port operator and COSCO SHIPPING Ports Ltd (CSPL) are close to finalising the agreement for an investment in Container Terminal Tollerort (CTT). "We can confirm that in objective, constructive talks between HHLA, CSPL and the Federal Ministry for Economic Affairs and Climate Action, it has been possible to agre
ONE changes MIM service's frequency Ocean Network Express (ONE) announced that the Maputo/Mombasa India Middle East service (MIM) will increase its sailing frequency from fortnightly to weekly in January 2023. ONE noted the increased frequency will begin from the Westbound sailing arriving at Jebel Ali on 20 January 2023 and the Eastbound sailing from Mombasa on 31 January 2023. The MIM weekly service rotation remains unchanged as
Diana Shipping starts year with Solebay cape charter New York-listed Greek bulker owner Diana Shipping has started the year with a time charter deal with Hong Kong-based Solebay Shipping Cape Company Limied for the 2014-built capesize . The charter is expected to commence on January 10, 2023, fixing the 179,492 dwt vessel through to between June 15, 2023, and August 15, 2023, at ...
Wilson moves to delist from Oslo Norway's Wilson has launched an offer to buy back its own shares as it sets the stage to be delisted from the Oslo Stock Exchange. The mini-bulker giant, controlled by shipowner Kristian Eidesvik and his family, is looking to buy back close to 4.36m shares at NOK 69 each, for up to NOK300.6m ($30.4m). The ...
More work for Dolphin Drilling semisub in Nigeria Øystein Stray Spetalen-backed semisub rig owner Dolphin Drilling has secured a new letter of award for the for additional work in Nigeria. The new deal gives the Euronext Growth-listed owner of three rigs the potential to extend the backlog for the 1974-built unit by a minimum of 120 days and up to 485 days in ...
Asso seals German cable laying deal Greece-based offshore contractor Asso has sealed a deal to transport, install and protect the 220 kV export subsea cable system that will connect the 300 MW Windanker offshore wind farm with the German transmission grid. Under the contract awarded by Cenergy Holdings' cable manufacturers, Hellenic Cables, Asso.subsea will install more than 100 km of cable, ...
DNV's fleet management system hit by cyber attack DNV has reported a cyber attack on its ShipManager software that forced the company to take its dedicated ShipManager servers offline. The incident was detected on Saturday, January 7, and DNV said its experts are working with IT security partners to put in place a technical recovery plan and ensure operations are online as soon ...
Hitachi Energy secures Polish offshore wind orders Switzerland-headquartered Hitachi Energy, formerly Hitachi ABB Power Grids has won two major orders from Equinor and Polenergia to provide an AC grid connection and power quality solution for their jointly owned MFW Baltyk II and MFW Baltyk III offshore wind farms, with a combined generating capacity of 1,440 MW in the Polish sector of the ...
DHT Holdings reveals fresh $305m financing DHT Holdings has revealed a new $305m secured credit facility. The proceeds will be used to refinance the outstanding amount on the company's current ABN Amro credit facility and be secured by 10 ships. The New York-listed owner of 23 VLCCs said the facility includes a six-year tenor and a 20-year repayment profile. It will ...
ABS and HD Hyundai seek to further advance autonomous vessel tech US class society ABS and South Korea's HD Hyundai, formerly known as Hyundai Heavy Industries, have penned a comprehensive memorandum of understanding to continue working together on autonomous navigation technologies for shipping. The scope of the deal builds on the previous strategic framework agreement that the companies signed in 2022 under which ABS worked with ...
Splash print line-up and dates for Maritime CEO Forums revealed The dates for this year's Maritime CEO Forums have been revealed, as well as the print publishing line-up for Splash in a busy year for our editorial and commercial teams. The Singapore Maritime CEO Forum will take place at the start of Singapore Maritime Week at the iconic Fullerton Hotel on April 24, while the ...
M3 Marine taps Mark Colbridge to head up brokerage division Singapore-based offshore shipbroking and marine consultancy M3 Marine has brought in Mark Colbridge from compatriot consultancy C4Energy to head up the company's brokerage division. Colbridge joins M3 with over 20 years of experience in the subsea sector having previously held management positions with Acteon, TS Marine, DOF and more recently headed up Swire Seabed prior ...
China's reopening seen as a positive for shipping China's reopening to the world over the weekend is seeing considerably more jet fuel about to be consumed in the world's most populous nation, while for crew managers there's relief that the country has made crew changes far easier for the first time in nearly three years. As part of its dismantling of its zero-covid ...
Aker Solutions and Drydocks World score Rosebank FPSO contract Aker Solutions and Drydocks World-Dubai joint venture has won a contract worth up to NOK4bn ($401bn) from Altera Infrastructure for the complete upgrade of the Petrojarl Knarr floating production storage and offloading vessel (FPSO) to be redeployed at Equinor's Rosebank field development, offshore UK. The upgrade will take place at the company's yard in Dubai, ...
Shelf Drilling clinches another three-year jackup deal with ONGC Oslo-listed jackup rig operator Shelf Drilling has secured a three-year contract from Oil and Natural Gas Corporation (ONGC) for the . The 1976-built rig will be operating in the Mumbai High, offshore India. The contract will start in direct continuation of its current employment with ONGC following an out-of-service period in preparation for the new ...
Greek bulker runs aground in the Suez Canal Three tugs managed to refloat a dry cargo ship that had run aground briefly this morning in the Suez Canal, setting social media alight with conjecture about another blockage of the key trading artery between Europe and Asia. 2015-built panamax bulker Glory ran aground earlier this morning according to Norwegian ship agency Leth. AIS data ...
Altera Infrastructure emerges from chapter 11 UK-based Altera Infrastructure, formerly Teekay Offshore, has emerged from the chapter 11 process in the United States Bankruptcy Court for the Southern District of Texas after consummating its plan of reorganisation. The restructuring addressed more than $1bn of secured and unsecured holding company debt, $400m of preferred equity, and $550m of secured asset-level bank debt. ...
VLCCs changing hands for very firm prices The tanker secondhand market segment is boiling despite spot rates dropping in the opening days of 2023. Rusty and semi-modern VLCC tonnage is preferred, promising short-term gain to Chinese and Middle Eastern buyers battling for available capacity. Among the most interesting deals is the sale by Greek owner, Chandris who is cutting its VLCC arm ...
Pertamina International Shipping forges overseas pacts Indonesia's Pertamina International Shipping (PIS) is spreading its wings. The shipping subsidiary of the nation's top energy producer has recently two collaboration agreements, while opening a new branch office in Dubai. PIS signed a heads of agreement with Dubai-headquartered LPG trader BGN International to work together acquiring and operating very large gas carriers (VLGCs) and ...
Frontline abandons plan to merge with Euronav Frontline says it will not make the formal tender offer and will no longer seek a listing on Euronext Brussels
Israel to introduce low-sulphur areas in berths and anchorages The regulation, which starts on February 23, aligns Israel with a similar EU directive for vessels at berth
Greeks rank top for buying secondhand ships in 2022 Balance between purchasing and selling suggests owners responded to relatively high prices as well as fleet renewal imperatives
Russia tanker chartering premium holds - for now Premiums see aframax tankers that ship crude to Türkiye from Primorsk earn about $3.5m, about one-ninth of what the vessel is...
Crew of Heroic Idun to appear before Nigerian court Nigeria is using the case to further its domestic political agenda by holding up the Heroic Idun as one of...
Owner of US cruise firm accused of fraud detained by coast guard Curtiss Jackson was arrested at sea having been previously arrested for allegedly siphoning millions of dollars from investors in a...
The week in charts: MSC adds more tonnage | Grain corridor logs 16m tonnes of exports | Container markets bearish Iran's oil exports increase despite US sanctions, no guarantee of a strong lift in demand for panamax bulk carrier even...
The week in newbuildings: Samudera confirms feeder boxship order Order for 1,900 teu capacity pair represents the first boxship newbuilding contract since early November
Inflation and recession fears affect outlook for container shipping A worsening economic picture will hold back consumer spending. Inflationary pressures could also lead to more labour unrest and supply...
Latest container liftings data show extent of demand retreat Box volumes have been on a downward trajectory for several months. Carriers now face tough decisions over capacity if they...
Bulk carrier values continue decline Volatile dry cargo freight markets are continuing to push asset values of all bulk carrier classes downwards, with older tonnage...
Suez Canal traffic normal after stranded bulker is refloated The 75,500 dwt bulk carrier Glory has now been refloated by Suez Canal Authority tugs, with 21 following ships now...
Daily Briefing China lifting Australian coal ban offers little relief to panamax fleet | Time to make seafarer abandonment a thing of...
KSOE expands autonomous vessel projects with ABS Project involves first unmanned large merchant vessel ship capable of operating for long periods without the assistance of a navigator...
South Korea relaxes visa rules to address shipbuilding staffing Korea Offshore & Shipbuilding Association forecasts a shortage of 14,000 production workers in the shipbuilding sector by the end of...
China to allow foreign crew changeover Impact of policy change will depend on how fast ports and terminals follow the government's instructions, said one management company
Asia-Europe capacity cuts lag market slowdown: analysts With little sign of booking increases on the Asia-Europe trade ahead of Chinese New Year, analysts believe carriers will be oversupplied with capacity unless further cuts are made.
Frontline scuttles Euronav merger efforts, dashing hopes to create tanker behemoth John Fredriksen-backed tanker owner began its merger push last summer in an effort to build the world's largest tanker owner
Robert Bugbee: Investors 'wrong' to correlate VLCC weakness with product tanker outlook Rates strength has continued, Scorpio president stresses, with some proof coming later this week
VLCCs need help from Opec+ as 'golden age' looms for tankers, broker says BRS Group says the struggling ships will need the bloc to boost production later in the year to pull up rates
Klaveness and Athena forge one-year deals as panamax period rates dip Norwegian operator takes Fortune Ocean kamsarmax while Maritime Enterprises Management ship goes to Singapore player
Diana Shipping locks up capesize bulker for a year as period rates inch higher Vessel is coming off more lucrative year-long charter with Cargill at higher rate, but term rates are moving higher
Kirby distribution and services exit held up thanks to 'macroeconomic headwinds' Houston barge operator began exploring spinning off or selling its distribution and services business last year
Ardmore appoints new director with finance experience in Asian markets Fok will replace former board member Brian Dunne, who stepped down in November
Kristian Eidesvik plotting to take bulker group Wilson private in Oslo Low trading liquidity means shipping company offering to repurchase up to 4.4m shares before delisting
Braemar: VLCC gains could be limited from China reopening Broker says pandemic risks, global economic woes and refinery uncertainty could temper owner optimism
Greek-managed bulk carrier suffers engine failure in Suez Canal Technical malfunction causes panamax carrying Ukrainian grain to get stuck in waterway
Chinese VLCC heads for Asia after STS transfers of Russian crude The Lauren II is one of four large tankers with links to the port city of Dalian that had travelled towards Ceuta
DHT clinches cheaper $305m finance deal secured by 10 VLCCs Owner says multi-lender facility will reduce borrowing costs
London pair orders ultramaxes at New Dayang Shipbuilding Bulkers expected to cost between $31m and $32m each
'Stellar' year ahead for shipping stocks after 29% gain in 2022, Clarksons says Tight supply picture should support share prices as savvy owners keep buying relatively cheap secondhand vessels
London shipping pair pen ultramax bulk carrier orders at New Dayang Shipbuilding Marine Capital and Ocean Agencies have each ordered bulkers at between $31m and $32m per ship
Dorian LPG becomes 'mission ambassador' to Zero Carbon Center VLGC player wants to share expertise with Danish decarbonisation operation
Mining company to build new $130m port in Yemen Bulk and container cargoes targeted by government
SSY names six new partners in London and Singapore Average age of partnership has been reduced by four years to 38
Evangelos Marinakis' Capital Gas poised to fix LNG carrier newbuilding duo to Nigeria LNG Rumoured deal has yet to be finalised but would leave company with three open under-construction vessels
Greek-managed bulk carrier briefly runs aground in Suez Canal Technical malfunction caused panamax carrying Ukrainian grain to get stuck
Hamburg Sud container ship refloated after grounding off Colombia Pilot blames master for incident, according to port of Cartagena
Pertamina invites demo offers on 40-year old MR1 product tanker Interest in old tanker is likely to be high as lack of ships drive up prices from hungry recyclers in India
Braemar: VLCC gains could be limited from China re-opening Shipbroker says pandemic risks, global economic woes and refinery uncertainty could temper owner optimism
Tanker owner Altera eyes growth after clinching $2bn bankruptcy restructuring Aberdeen-based group emerges from Chapter 11 after converting $1bn debt to equity
Greek-managed bulk carrier briefly runs aground in Suez Canal Technical malfunction caused panamax carrying Ukrainian grain to get stuck just south of Port Said
Greek-managed bulk carrier runs aground in Suez Canal Panamax carrying Ukrainian grain stuck just south of Port Said, Leth Agencies reports
Rise of the new tanker operators revealed in Russian oil trades Indian, UAE and Chinese-controlled tankers have taken a bigger share of Russian crude exports
Pertamina partners with BGN on new VLGC shipowning joint venture New joint venture will initially focus on VLGCs, but could branch out into ammonia shipping
Cosco tanker arm achieves firm rate for VLCC sale Hong Kong and Shanghai-listed owner offloads an elderly Chinese-built vessel for further trading
ITF alleges Indian pay-to-work scam on arrested Vietnamese handysize Union investigators believe crewing provider has been making cadets pay for jobs to earn seafaring papers
Will sanctions on Russian diesel pay off for product tankers? Sanctions on Russian crude exports have yet to boost tanker rates. Some question whether sanctions on Russian diesel will either.
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