Huntington-Ingalls breaks ground on new nuclear sub construction facility Huntington-Ingalls Industries (NYSE: HII) has broken ground on a new project that will support nuclear submarine construction at its Newport News Shipbuilding division. The Multi-Class Submarine Production Facility is one of three
Seaside LNG acquires Clean Jacksonville LNG bunkering barge Seaside LNG reports that it has acquired the LNG bunkering barge Clean Jacksonville from TOTE Maritime Puerto Rico, LLC, a subsidiary of TOTE Group, LLC. Seaside LNG's maritime transportation company, Polaris New
Crowley takes first step toward creating Port Fourchon offshore wind facility Port Fourchon, La., the land base for multiple service companies supporting U.S. Gulf offshore oil and gas activities, looks set to also become a hub for offshore wind. Crowley reports that, at
Contecon Manzanillo, first carbon neutral port in Mexico Contecon Manzanillo, a subsidiary of International Container Terminal Services Inc. (ICTSI) and the concessionaire of the Specialized Container Terminal of the North Zone of the Port of Manzanillo (TEC-II), is the first company in the Mexican port industry to be certified carbon neutral. Earning this certification strengthens Contecon's position as a forerunner port terminal in Manzanillo, Colima
DP World becomes official partner of McLaren Formula 1 McLaren Racing announced a partnership with DP World, a provider of supply chain logistics, as an official partner of the McLaren Formula 1 Team from 2023. DP World will also become the lead partner of McLaren APEX, McLaren's off-track business-to-business event programme, promoting influential collaborations across McLaren's expansive partner network and beyond. From the 2023 F1 season, DP World
ACFS Port Logistics confirms new equipment order from SANY Group ACFS Port Logistics, Australia's transport, warehousing and freight logistics company, has concluded an agreement with SANY Group for a new equipment order. ACFS will receive 19 twin pick empty container handlers and 14 heavy reach stackers from the Chinese port equipment manufacturer in 2023 to enhance its cargo handling fleet. "These new machines will be under a regular service maintenance cont
Maersk to recruit South African cadets for its vessels South Africa has been recognised as a high potential crew sourcing location for Maersk fleet, which now counts 280 fully-owned and operated container vessels employing 12,500 seafarers. South African cadets from the National Seafarer Development Program will be evaluated for placement with Maersk, and the first cadets are anticipated to join Maersk vessels in the second quarter of 2023. "The impo
Port of Riga sees increased container numbers in 2022 The Port of Riga recorded an increased container cargo volume with 460,700 TEUs in 2022, with containers being the third largest type of cargo in the Latvian port. Last year, Baltic Container Terminal (BCT) achieved a record-high cargo turnover rate, exceeding the previous year's result by 16% and transshipped 326,000 TEUs, which is the highest annual turnover in its history. The growth in contai
FMC calls on MSC to justify congestion fee imposed on US firm The Federal Maritime Commission (FMC) of the United States has asked the largest container line in the world MSC to justify a congestion fee of US$1,000 levied against SOFi Paper Products, a US paper products firm. SOFi filed a complaint with the federal agency responsible for regulating the US international ocean transportation system and MSC must provide answers by the end of the month. Accordi
Box volumes skyrocket at port of Klaipeda The Port of Klaipeda in Lithuania was added to more cargo shipping routes in 2022, which led to an increase in container volumes, particularly in the transshipment sector, handling a total of 1,047,941 TEUs. The Port of Klaipeda has achieved the largest container growth among the ports on the east coast of the Baltic Sea with a 57% box volume growth. The major Lithuanian port closed the previous
US government announces over US$660 million available for port development The United States Department of Transportation's Maritime Administration (MARAD) has announced a Notice of Funding Opportunity (NOFO) making available more than US$662 million in Federal Fiscal Year (FY) 2023 funding for MARAD's Port Infrastructure Development Program (PIDP). The purpose of the PIDP investment is to modernise the country's ports and help strengthen the supply chain sector in the
More boxships inactive as freight levels tank Close to 6% of the global boxship fleet is now idle, up from just under 5% a week ago, according to Alphaliner. It appears that it is mainly the carrier-controlled small and mid-sized vessels that are now unemployed. Alphaliner's count suggests that 338 vessels totalling around 1.48 million TEUs are now inactive, as freight levels, cargo volumes, and port congestion revert to pre-Covid-19 levels.
Drewry's World Container Index sinks below US$2,000 for first time in 32 months The Drewry's World Container Index (WCI) annexed the psychological mark of US$2,000 on the downside for the first time since July 2020, post the first set of quotes reported in the aftermath of the Chinese New Year. It must be noted, though, that similar quotes were seen in the WCI in early 2015 too. So, technically the rates are at a pre-pandemic level. The Europe-US rates fell 4% for the week,
Ports of Los Angeles and Long Beach release final drayage truck feasibility assessment The ports of Long Beach and Los Angeles have released a final report on the current state and overall feasibility of using clean, heavy-duty drayage truck technology throughout the San Pedro Bay port complex. More specifically, the two mega container ports in California have jointly released a draft assessment in August 2022 for public review and comment. Moreover, the 2021 assessment builds upon
Iskenderun port fire to cause trade loss of around US$680 million: Russel Group According to Russell Group, a data and analytics company, the container fire at the Port of Iskenderun in Turkey, caused by the heavy earthquake , can generate US$680 million of trade disruption. The analysis says the accident is projected to interrupt US$36.7 million in iron and steel exports and US$51.4 million in plastic materials imports. The port shut operations on 6 February and remains clo
GCT proposes its own Vancouver new terminal plan instead of VFPA's project Global Container Terminals (GCT), a Canadian port operator, has submitted a proposal for the expansion of the port of Vancouver and the construction of a new box terminal. GCT's proposal comes with the name "Deltaport Fourth Berth Expansion Project (DP4)", which is currently undergoing federal and provincial impact assessments, and conflicts with the proposal of the Vancouver Fraser Port Authorit
Medkon Lines pays US$4 million to acquire its largest boxship Medkon Lines has acquired its largest vessel to date, according to Alphaliner, from Sea Consortium. The Turkish container shipping company paid approximately US$4 million for the boxship X-Press Brahmaputra, which has a box capacity of 1,162 TEUs and was built in 1997. The container ship will be renamed Medkon Mira and Medkon Lines will now operate a total of 13 vessels. The post appeared first
Drewry's World Container Index sinks below $2,000 per feu The Drewry World Container Index ducked below the $2,000 per feu mark today for the first time since July 30, 2020. The composite global spot index now stands at $1,997.22 per feu, having peaked back in September 2021 at more than $10,300. "Container freight rates have fallen materially over the past six months and are ...
Tonnage offload accelerates at Navios Maritime Partners Active seller Navios Maritime Partners is busy offloading bulk and container tonnage. Greek player W-Marine has been identified as the taker of the 11-year-old, 93,000 dwt Jupiter N, while broking sources note that several more deals are in the making. Sources tell Splash the outfit is processing to sell the 12-year-old Serenity N, a Chinese-built ...
Quirky box-related world record secured in the Middle East One of the more quirky shipping-related world records has just been achieved in the Middle East. Khalifa Port, Abu Dhabi's flagship deepwater port, has set a new Guinness World Records title for assembling the largest shipping container logo/image. The Khalifa Port team assembled 676 containers in the shape of AD Ports Group's logo at its ...
Pertamina seals VLGC acquisition Indonesia's Pertamina International Shipping (PIS) has taken delivery of the 2021-built Monte Rosa Explorer, now renamed , from Trafigura. No price has been revealed for the 90,000 cu m ship, which becomes the largest LPG carrier in the PIS fleet. In November last year PIS detailed a five-year, $3bn fleet rejuvenation and expansion programme.
Fire under control at Iskenderun Port Firefighting continued this morning at the severely damaged container terminal at Iskenderun in southern Turkey three days after the site was hit hard by a massive earthquake. Turkey's Maritime General Directorate yesterday announced that the fire at Iskenderun Limak Terminal had been brought under control after efforts from sea, air, and land. However, TV images ...
CMA CGM adds ropax business to sprawling empire Cash-rich, acquisitive CMA CGM is closing in on a takeover of fellow Marseille shipowner La Méridionale, a struggling ropax operator belonging to STEF Group with routes to Corsica, Sardinia and Morocco. La Méridionale, which has 600 employees, has three ships and is the latest acquisition target by Rodolphe Saade-led CMA CGM, which has been on ...
TGS and CGG awarded NCS survey contract Seismic data providers TGS and CGG have been awarded a contract for the acquisition and imaging of a dense ocean bottom node multi-client seismic survey in the Balder and Ringhorne areas of the Norwegian Continental Shelf (NCS). The surveycovers a mature part of the North Sea, including the Balder and Ringhorne fields, the Iving/Evra and ...
$662m made available for American port development The US Department of Transportation's Maritime Administration (MARAD) has made $662m available for port infrastructure development this year. "America's ports play a central role in our supply chains," said US transportation secretary Pete Buttigieg. "With today's announcement, we are helping make our ports safer, more efficient, and more reliable-strengthening supply chains, reducing costs for t
Crowley takes key step toward becoming one of Port Fourchon's newest tenants Crowley has reached a right-of-first-refusal agreement with the Greater Lafourche Port Commission (GLPC) to potentially lease and develop an offshore wind terminal at Port Fourchon, the southernmost port in Louisiana, located on the Gulf of Mexico coast. The site, more than 40 acres with over 2,200 linear feet of waterfront, is in a prime location ...
Equinor and SSE plan expansion at Dogger Bank offshore wind farm Equinor and SSE Renewables are looking to add an additional 1.32GW capacity to the world's largest offshore wind farm Dogger Bank, announcing early scoping work to explore options for developing a fourth phase, Dogger Bank D. Dogger Bank D would be located in the eastern zone of the Dogger Bank C lease area, subject to ...
Reach Subsea awarded North Sea decommissioning contract Reach Subsea has secured a decommissioning scope in the North Sea, utilising Olympic Subsea's CSV . The contract is scheduled for the first quarter of this year, and has a duration of about 40 days. Reach Subsea has an existing cooperation with Olympic Subsea for use of the vessel, and the companies have agreed to ...
Saverys lay out decarbonisation agenda ahead of Euronav boardroom battle Board replacements will then be asked to 'explore whether, next to running an efficient and value-creating tanker business, new investments...
Upbeat Eneti boasts stronger than expected fourth quarter results Chief operating officer of wholly owned subsidiary Seajacks says outlook is bright on solid fundamentals, as demand for installation vessels...
RightShip works to stamp out seafarer abandonments Crew on a general cargoship off Senegal seize vessel after being without a generator, proper provisions, and wages for months
CMA CGM linked to purchase of Mediterranean ferry operator STEF confirmed the sale of La Meridionale to French financial media, although CMA CGM has not responded to requests for...
US sanctions Iranian petrochemical and petroleum trade The US has blacklisted nine entities involved in the production, sale and shipment of petrochemicals and petroleum from Iran
Russia sanctions insurance deal for Bosporus tankers now includes products, says Gard Development likely to be welcomed by shipowners engaged in the trade, who will now have clarity on insurance situation
P&I renewal round heats up 'There is still no evidence of clubs conceding,' says one broker. 'All of those I have spoken to recently -...
Höegh Autoliners boosted by high spot rates and contract repricing World's fifth-largest operator of large car and truck carriers posts fourth-quarter revenue of $356m, compared with $329m in previous three...
Odfjell sees momentum in 'strong' chemical tanker market Charterer's interest in COAs remains high but available space is limited, leading to 'promising' negotiations on both rates and contract...
DFDS freight volumes fall but passenger numbers quadruple While freight volumes dropped, increases in freight rates and passenger volumes helped the Danish ro-ro cargo and passenger ferry operator...
ICBC manager is latest executive targeted in China's anti-graft crackdown Incident suggests Beijing's corruption crackdown on China's ship finance sector is not yet over
Democratisation of data is best hope for sustainable shipping There's no one-size-fits-all digital solution and trying to develop proprietary software is a waste of money, says study
Singapore agrees maritime and port co-operation with Vietnam Port authorities will explore collaboration and exchange views on areas including digitalisation, port state control inspection, maritime training of personnel...
Daily Briefing High China container throughput volume said to be inflated | Maersk's 'integrator' strategy unachievable under 2M, says chief | Price...
Tanker market recovery continuing says DHT Holdings as it posts highest profit in ten quarters Operator of 29 very large crude carriers refinances expensive debt as forecasts of global tanker fleet contraction keep rates profitable
Malaysia's Northport expands port handling capacity Terminal reconfiguration plan involves conversion and development of a new container yard, and acquiring port equipment
TotalEnergies delivers biofuel bunkering to Hapag-Lloyd vessel Bunker operation marks the start of a term supply agreement under which TotalEnergies will supply very low sulphur fuel oil...
Singapore removes harbour craft incentives for LNG bunkering Singapore has touted LNG as a 'pragmatic transition fuel' to reduce greenhouse emissions
Maersk must contend with volumes, market share in steady decline: analyst If Maersk's volumes and market share continue to slip, the reduction in size will eventually challenge profitability aspirations in a market where some competitors are increasing their scale benefit, writes analyst Lars Jensen.
US DOT says ports can tap $662 million in 2023 grants The US Department of Transportation's Maritime Administration is on the hunt for port projects that mitigate climate change, among other aims, as it lays out grant funding opportunities for 2023.
Pandemic effect drives disconnect in global trade-GDP demand indicator Global economic growth is expected to outstrip container shipping demand through 2023, potentially upsetting the traditional approach to measuring trade.
'All trading volatility': March contracts for capesize bulkers plunge 12% in a day Physical capesize market remains flat as traders speculate, Breakwave Advisors' John Kartsonas says
Only a new board can 'restore serenity' at Euronav, Saverys' CMB says Belgian shipping dynasty says any shareholder with a 3% or greater stake can make recommendations at 23 March meeting
DHT looking to stand pat with fleet despite a few older ships still trading VLCC specialist says it is happy with its older ships and newer ships need to get cheaper alongside future fuels clarity
Star turn: Fidelity Investments checks out of dry bulk's biggest shipowner Famous institutional investor also has slashed its position in Connecticut's Eagle Bulk Shipping
New Russia ban will lead to higher freight rates, says Angelicoussis' Stohle Senior Angelicoussis executive expects sanctions on Russian products to have similar effects as the one on crude
Trafigura sets aside $577m for potential losses after nickel cargoes turn up nickel-less Trading house moves to sue alleged fraudsters, with poss potentially taking a chunk of its profits
Tailwinds: Eneti shares surge 12% after earnings beat estimates Offshore wind player benefitted from better than expected fleet utilisation as it hashes out a contract for second WTIV newbuilding
US continues crackdown on Iranian petroleum exports with fresh round of sanctions Nine companies connected to alleged frequent offender Triliance Petrochemical land on US blacklist
China's Jovo snaps up 15-year-old LNG steamship from Japan's Shoei Kisen Kaisha Chinese trading company has been slowly growing its LNG fleet with secondhand buys but has yet to take delivery of its first newbuilding
Supply shock: MR tanker rates skyrocket as US Gulf exports rebound Lower output earlier in the year reduced the number of vessels moving to the region
'Forward looking' Chevron taps ABS Wavesight to track fleet's greenhouse gas emissions California energy giant to streamline data collection for IMO, EU and Sea Cargo Charter reporting requirements
Streetwise: Are product tanker stocks feeling the 5 February effect after breakout 2022? Our finance newsletter asks: What will the impact of the Russian product ban be on tanker stocks?
Klaveness and RightShip agree to share data to boost charterers' decision-making Norwegian shipowner's Market Manager tool will receive input from ESG platform
Windward: Risk of tankers busting sanctions rises with new oil ban Consultancy identifies hundreds of tankers currently operating in crude and product trades
Shipping lending down at HCOB due to 'dampened' credit demand Hamburg lender blames liquidity situation in the market, but profit rises
Global shipping leaders bemoan acute seafarer shortage As if Covid and Ukraine were not bad enough for seafaring, a labour standards brawl may make things even worse
ICBC ex-gas team leader Zhang Siliang targeted in China graft probe A 10th prominent figure in Chinese ship finance is in custody of Communist Party enforcers, according to sources
Evergreen is bottom of the class in new carbon emission rankings Outfit was worst of top six carriers operating from Asia to the East Coast of South America
Shanghai finance shop disbands amid Communist Party investigations Staff of China's Smarine Advisors are splitting up and starting over after founder Eric Wang was detained by Communist Party investigators
Why liner giant Evergreen is leading fresh rankings for carbon emissions Outfit was worst among the top six carriers operating from Asia to the East Coast of South America
Erik Lewenhaupt plots Concordia Maritime reboot after sell-offs CEO says future may be outside of product tankers with potential total fleet sale
Tomini Shipping moves into capesize segment with Greek bulker buy, brokers say Dubai-based shipowner reportedly starts 2023 in a big way with the purchase of its largest bulker yet
IMO working on helping stranded ships in Ukraine, Kitack Lim says 'Special effort' is underway to deal with situation, according to IMO secretary general
Hoegh Autoliners pays record dividend after best ever quarterly result First quarter has started well, Norwegian car carrier owner says
DNB shipping book shrinks by $806m on impairment reversals Major Norwegian lender is still writing back earlier provisions after strong 2022
Container ship charter renegotiations inevitable, DNB banker says Voices proliferate, that amid falling container ship markets something will have to give
Braemar eyes offshore broking expansion with new office in Aberdeen Team of five likely to grow after move to modern property in Scottish city's west end
Trafigura's Olivi and Greek manager Zachariadis cross swords on ship efficiency Trafigura brings alternative energy efficiency gauges into play as shipowners seek revisions to CII
Gram hopeful of fixing open ships at big rates as profit grows Car carrier tonnage provider wants to lock in earnings in record markets
Concordia Maritime mulls further sales in product tanker asset boom Gains for the Swedish company were limited during rates spike with most of its tankers on long-term time charters
P&I clubs set $80m excess war risk cover limit for Russia Move comes following the exclusion clauses set by International Group's reinsurers
Container ship bear run: Fearnley Securities downgrades Maersk to 'sell' Weak market outlook for coming two years causes rethink
Yang Ming shortlists two yards for five container ship newbuildings The 15,000-teu boxships will be the liner's first LNG dual-fuelled vessels
Former boxer accused of using MSC ships to move cocaine pleads not guilty Goran Gogic fighting all charges as he remains in a federal detention facility in Brooklyn
Veteran Maersk technical guru swaps boxships for cruise ships The Harvard-trained marine engineer is set for sunnier climes as he swaps Copenhagen for Miami
Singapore withdraws concessions for FSRUs used for LNG bunkering Maritime and Port Authority of Singapore says there is now adequate capacity for LNG bunkering in the city state
Cosco-linked Sanya International sells only ship after finding cruise to be less than charming However, with Chinese travel restrictions lifted, another cruise newcomer plans to launch with former Carnival ship
Great Eastern could add 30 ships to fleet when time is right, Bharat Sheth says Prices in some sectors are falling, but from elevated levels, Indian owner's boss tells analysts
Busier Wah Kwong sees emissions almost double but efficiency improves Hong Kong group blames bigger carbon output from vessels on more fixtures and longer hauls
Welcome to the dark side: The rise of tanker shipping's 'shadow fleet' Sanctions have split the world's tanker fleet in two. On one side, those that follow Western rules; on the other, those that don't.
Flexport offers simplified ocean logistics for Shopify merchants Flexport and Shopify are partnering on a new app designed to reduce the complexity of managing ocean shipments for small businesses.
Aloha Air Cargo asks DOT to remove regulatory handcuffs on expansion Aloha Air Cargo is seeking to change an unusual federal limit on its fleet size so it can deliver more mail between the Hawaiian Islands.
Rockford airport prepares next cargo expansion as Menzies moves in Chicago Rockford is moving into the major leagues of cargo airports with big expansion plans and the arrival of a global ground handling agent.
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