Kitsap Transit moves ahead on all-electric ferry Kitsap Transit has taken another step forward with its plans for an all-electric ferry to operate on its Puget Sound services. It has now put out a request for information (RFI) from
Tug boat sinks off South Carolina U.S. Coast Guard Sector Charleston reported yesterday that the USCG and partner agencies were responding to a 59-foot push tug that sank Tuesday night approximately three miles off North Myrtle Beach, South
Purus Wind CSOVs will feature Brunvoll propulsion packages The methanol-ready battery hybrid commissioning service operation vessels (CSOVs) recently ordered at Vard by U.K. based Purus Wind will have Brunvoll propulsion and maneuvering packages. Each will be outfitted with two azimuth
Crowley breaks ground for eWolf charging station Crowley and the Port of San Diego have broken ground for the shoreside charging station that will provide clean energy for eWolf, Crowley's zero-emissions all-electric tugboat. The eWolf charging station is a
Pasha Hawaii's second LNG boxship calls Bay Area Pasha Hawaii and the Port of Oakland held a christening ceremony to honour the arrival of the Janet Marie, the company's second Liquified Natural Gas (LNG)-powered container ship to visit the Bay Area. The Oakland Seaport is considered the Northern California gateway for containerised ocean freight shipping. Janet Marie is the second of two new 236 meters long LNG-powered container ships of the '
San Antonio Terminal marks record with MSC Chiyo arrival Chile's San Antonio Terminal Internacional (STI) continues to achieve milestones, this time with the arrival of the 16,616 MSC Chiyo, the ship with one of the largest cargo capacities that have arrived in the country. STI acquired two new ship-to-shore (STS) cranes and two rubber-tyred gantry (RTG) cranes at the start of the year, making it the only port in Chile capable of processing two super p
Hapag Lloyd increases rates from UAE to North Europe, West Med and North Africa Hapag Lloyd has announced increased ocean tariff rates from the United Arab Emirates (Jebel Ali and Abu Dhabi) to North Europe (Germany, Netherlands, United Kingdom, Belgium, France, Poland, Denmark, Sweden, Ireland, Norway, Finland, Lithuania, Czech Republic, Hungary, Latvia, Austria, Switzerland, Slovakia, Estonia, Iceland, Luxembourg) and West Mediterranean / North Africa (Spain, Portugal, Ita
Spot rates rally on key Far East trade lanes after latest GRI moves: Xeneta Spot rates for containerised ocean freight have climbed across three leading Far East export corridors after the latest round of General Rate Increases (GRIs) from carriers. The news, revealed by Oslo's Xeneta, provides welcome relief for a segment that has been "up against the ropes" for much of 2023, fighting against declining demand and volumes, married to escalating overcapacity and continuin
La Spezia Container Terminal achieves new record operating MSC mega vessel La Spezia Container Terminal (LSCT), operated by Contship Italia Group, set a new record handling the 24,000 TEU container ship MSC Nicola Mastro on 9 August. La Spezia Container Terminal became Italy's first gateway to successfully operate one of the world's largest container vessels, as MSC Nicola Mastro is the first boxship with a capacity of 24,000 TEUs to call in a country's port. The new ve
Alcott Global reveals the nominees for the Leaders in Supply Chain Awards 2023 The annual Leaders in Supply Chain Awards celebrates and highlights the important work the supply chain leaders are doing The annual Leaders in Supply Chain Awards, organized by the executive search company, Alcott Global, celebrates and highlights the important work the supply chain leaders are doing on digitizing operations , decarbonization , and sustainability , as well as on creating a diver
Capacity discipline sustains rates amid peak newbuilding deliveries Capacity management has been key to the ongoing strengthening of Transpacific rates, according to container shipping expert Lars Jensen. Jensen, CEO of Vespucci Maritime, said in Baltic Exchange's latest monthly commentary that the Transpacific has seen the highest number of cancelled sailings, with 16% of sailings blanked. On 4 August, the Shanghai Containerized Freight Index (SCFI) showed that
Duvenbeck tests fully electric terminal tractor Duvenbeck, a freight forwarding and logistics firm, is taking another step towards transitioning its fleet to low-emission vehicles. In July of this year, the German company tested a totally electric terminal tractor unit at its Rastatt site. It was used to transport uncoupled (semi-)trailers at a vehicle manufacturer's site. "The terminal tractor unit made by the Dutch manufacturer, Terberg, has
Record high ship deliveries boost container fleet capacity "Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEUs in 2023, beating the previous record by 200,000 TEUs. As recycling of ships has remained low, the fleet capacity has grown 4.3% since January," says Niels Rasmussen, chief shipping analyst at BIMCO. The contracting of new ships has slowed since its record in 2021 but has year
HMM sees first-half profits sink over 90% HMM's first-half results are incredibly low compared to last year's levels with the company's profits falling over 90% year-on-year. In the first six months of 2023, the South Korean major shipping company reported net profit of US$460 million, which is 90% down to the same period last year, operating profit of US$360 million, translating to a 92% decrease over 2022 first half, and revenue of US$
CMA CGM enhances its terminal in Taiwan with new RTG cranes CMA CGM made an order to Konecranes for seven hybrid Noell Rubber-Tired Gantry (RTG) cranes to equip its Kaohsiung Terminal in Taiwan. According to the agreement's announcement, the commissioning will take place in the third quarter of 2024, with handover scheduled a few months later, in the last quarter of the year. These seven new Konecranes Noell hybrid RTGs use a battery for regular operation
CMA CGM on track to overtake Maersk in TEU capacity A few years ago, it would seem impossible that Maersk will be in third place in the ranking of the world's largest container lines, but according to current data, this will be the reality of the industry in the next years. French ocean carrier CMA CGM is on track to overcome the Danish shipping company and become the second-largest container carrier in terms of vessel container capacity. The curr
Hapag-Lloyd's profit plunges two-thirds due to weaker demand and lower rates Weaker demand and lower freight rates have significantly impacted Hapag-Lloyd's first-half earnings, according to the company's CEO, Rolf Habben Jansen, who, however, noted that the German shipping firm achieved to expand its terminal portfolio in this period. In the first six months of the year, Hapag-Lloyd reported a revenue of US$10.8 billion, earnings before interest, taxes, depreciation and
Wilson Sons Rio Grande container terminal nears 50,000 TEUs in July Wilson Sons Rio Grande container terminal recorded a 44% increase in July container volumes compared to the same month last year, handling 49,100 TEUs. Exports increased by 83%, thanks to more ship calls and higher amounts of tobacco, resins, and other items. Additionally, imports climbed 38% thanks to better ship schedule reliability and larger amounts of chemicals and resins. By overcoming the
Blaze hits grain silos in French port of La Rochelle A fire broke out at grain silos in the French Atlantic port of La Rochelle on Thursday, crippling operations at one of France's largest grain export terminals. Local authorities said the blaze, which started on a conveyor belt at around 08.00 hrs local time, engulfed four grain silos operated by Sica Atlantique. More than 100 ...
RWE awarded 900 MW German North Sea offshore wind sites The German Federal Network Agency has granted German utility RWE awards for the 900 MW Nordseecluster B. This involves the N-3.6 and N-3.5 sites in the German North Sea, on which RWE intends to develop, build and operate two wind farms with a total capacity of 900 MW. The awards were secured without a negative ...
Clyde & Co and former partner to face tribunal over alleged money laundering breaches Global law firm Clyde & Co and its former shipping partner Ed Mills-Webb are to face the Solicitors Disciplinary Tribunal (SDT) for alleged breaches of the money laundering regulations and allegations relating to anti-money laundering. According to the Solicitors Regulation Authority (SRA), there was a case to answer in respect of allegations relating to an ...
Wuchang Shipbuilding gets order for chemical tanker duo Chemical tanker player Xingtong Shipping has ordered two stainless steel chemical tankers from Wuchang Shipbuilding, a subsidiary of the China State Shipbuilding Corporation. Under the contract, Wuchang Shipbuilding will build two 25,900-ton stainless steel chemical tankers designed by Shanghai Odeli Ship Engineering and classified by ABS classification society as double-bottom and double-hull ch
China probes senior BoCom Leasing executive in anti-graft campaign Another senior executive from a leading Chinese leasing house is being investigated in connection with an anti-graft probe. Local media said Ma Bin, a vice president of Bank of Communications Financial Leasing (BoCom Leasing), is suspected of serious violations of discipline and law and is currently being investigated by the Central Commission for Discipline Inspection. ...
Perdana Petroleum awarded more work for AHTS vessels by Petronas Malaysian offshore marine support services firm Perdana Petroleum has won new contracts and an extension from Petronas for three anchor handling tug supply (AHTS) vessels worth around $8.4m. The company's subsidiary Perdana Nautika has received work orders totaling $4.8m for the deployment of two anchor handling tug and supply vessels. Both contracts have already started ...
MMA Offshore seals $85m financing Australia's MMA Offshore has secured A$130m ($85m) finance facility with the aim to optimise its balance sheet while providing additional flexibility and liquidity for growth. The Perth-based OSV operator and services provider said the new deal, which comprises a A$120m revolving loan facility and an A$10m letter of credit facility, will replace the existing loan ...
Stam Shipping sells bulk carrier for recycling Greece's Stam Shipping appears to have sold its last remaining bulk carrier for recycling. Cash buyer Best Oasis reported that the 2001-built has gone to Bangladesh for an undisclosed price tag. Stam bought the 74,800 dwt panamax as Fortune Trader for a reported price of $9.3m in October last year. The ship's scrap value is ...
PGE, Ørsted given 210 MW seabed area offshore Poland PGE and Ørsted have been granted a new seabed area for the development of an offshore wind farm in the Polish part of the Baltic Sea. Poland's Ministry of Infrastructure has given permission for the two companies to develop up to 210 MW in the area designated 45.E.1 in the Baltic Sea. The seabed area ...
Splash Spot Market fantasy league readies for the start of the season For those in shipping, having a punt is a regular, day-to-day activity. Whether it's bunker hedging, FFAs, timing a newbuilding delivery, shipowners are accustomed to making big calls based often on nothing more than gut feel. These characteristics make our readers perfect candidates to enter this year's Fantasy Premier League Splash Spot Market. England's Premier ...
Stolt-Nielsen picks Udo Lange for CEO role The chief executive officer (CEO) of Stolt-Nielsen, Niels G. Stolt-Nielsen, will step down from his role after 23 years on September 1, 2023. Niels G. Stolt-Nielsen will assume the role of chairman of the board of Stolt-Nielsen Limited, replacing Samuel Cooperman. The company announced that he will be succeeded as CEO by Udo Lange. Stolt-Nielsen ...
Saipem bags $1bn offshore contract in Libya Italy's Saipem has won a contract worth around $1bn $1 for the development of the shallow-water Bouri natural gas field offshore Libya. Mellitah Oil & Gas, a consortium formed by National Oil Corporation of Libya and Eni, has selected the Milan-based contractor to carry out revamping of the platforms facilities at the field. The contract ...
Singapore Strait sea robbery warning Three sea robbery incidents occurred in the Philip Channel in the Singapore Strait in the space of just six hours on Tuesday night going into Wednesday morning with the Information Fusion Centre, a regional maritime security advisory, warning ships in the area to be extra vigilant in the coming 10 days. The moon phase during ...
Bollinger Shipyards closes New Orleans facility Bollinger Shipyards, the largest privately owned shipbuilder in the United States, has decided to close its operations in New Orleans. The company said decision to close its Algiers Point facility was driven by a desire to consolidate its repair and maintenance operations.. Last year, Bollinger acquired Halter Marine in Mississippi. The larger of two floating ...
Imperial Petroleum aims to grow on back of strong results Nasdaq-listed owner has recently sold two bulkers and an aframax tanker to new spin-off, 3Cis
Bulker profits hit in Q2 as freer capacity outstrips demand Despite tonne-mile demand showing 5% year-on-year rise, the unwinding of post-pandemic congestion in the dry bulk sector is keeping rates...
Bulker boost: China's coal imports to maintain steady growth through 2023 Sustained flows into China bode well for the dry bulk market, as the world's largest coal importer, with steady shipments...
Hapag-Lloyd maintains outlook in face of weak rates Freight rates are still 'unsustainable' on many trades. But recent liftings data shows signs of better demand, at least in...
Conflicts of interests inevitable at P&I club correspondents, NorthStandard warns 'If there is no clear indication whether somebody from the club is instructing on behalf of an owner or a...
Obituary: Daryl Williamson One of the pioneers of maritime data digitalisation, Daryl had to battle against early scepticism about the internet as he...
Boxship orderbook remains near peak The ordering spree of 2020-2021 is now hitting the water. Not enough old tonnage is being removed to counter overcapacity
Stolt-Nielsen names Udo Lange new CEO Udo Lange, who has been with FedEx since 2015, starts as chief executive of chemical tanker and logistics provider Stolt-Nielsen...
China anti-corruption probe ensnares another Bocomm Leasing executive Ma Bin, a vice-president at Bocomm - China's largest ship lessor - is accused of 'severe disciplinary and legal violations'
HMM profits plunge on lower rates Overcapacity and falling freight earnings have hit the South Korean carrier. It is cutting costs and amending services to meet...
Norden profits decline as dry cargo weakness hits freight trading Buoyant tanker market offsets decline in dry cargo earnings for Danish shipowner, with geopolitical volatility and economic headwinds to lower...
Castor raises $50m from selling preferred shares to spin-off Brace of Petros Panagiotidis-led shipping companies reported results this week, showing spin-off Toro outshining its mothership in latest quarter
Daily Briefing Frontline tankers linked to Russian dark fleet after sale | P&I clubs over-reserving and underpricing newbuildings, Marsh contends | China...
Omni Logistics purchase to expand Forward Air's LTL, global reach The merger of third-party logistics provider Omni and expedited less-than-truckload (LTL) carrier Forward Air will create a more multimodal LTL network focused on high-value freight.
Logistics industry tiptoeing toward AI adoption: Freightos research Shippers and forwarders recently surveyed by Freightos believe artificial intelligence will reduce headcounts in the logistics industry, even if they have yet to figure out how best to use the still-emerging technology.
Convoy promises on-time truckload deliveries with new guaranteed product Targeting industrial and retail shippers that need expensive expedited services to meet stringent on-time metrics, freight broker Convoy is offering a product that guarantees shipments will be delivered within a predetermined 30-minute window.
US fines Greek operator $2.25m for broken inert-gas system US Coast Guard inspected vessel while it was off Rhode Island
Pangaea Logistics crushing current market but analysts lower expectations Even a 96% premium to current Baltic rates isn't a substitute for a fully recovered dry bulk trade
Focus placed on two vehicles in Grimaldi ro-ro fire off New Jersey Stevedoring service American Maritime Services is asking to inspect ship before repairs are made
Kyiv offers fresh hope for dozens of ships trapped at its Black Sea ports Kyiv wants to open up a humanitarian corridor which will allow a route out for ships caught up in the conflict
Golar gets LNG steamship to play with after Snam parks Sardinia project Freshly focused FLNG company could have a third LNG floater ready for operation by early 2027 if it moves on next conversion job this year
Expanding FSRU fleet is 'top priority' for Excelerate Energy, CEO says Floating regasification specialist also wants to boost its LNG supply portfolio further
Container shipping: Peak season's here, but how long will it last? Liner operators are once again talking about their ships being full as spot rates pick up
Playing with fire: How shipping's green drive comes at a cost Regulators not only have to decarbonise the industry but consider the consequences
How Ardmore Shipping needed 10 years to become the apple of Scorpio's eye This week's Streetwise looks at why Scorpio finally decided the time was right to invest in its Irish rival
Golar and BP move to arbitration on FLNG unit as floater readies to leave yard Tor Olav Troim's floating LNG production company homes in on gasfields with NNPC but an FSRU job for Snam is cancelled
Order glut brings Japan's Naikai back into building bulkers Earnings report reveals the yard has contracted five ships in the first quarter of this year
Shipping law firm Clyde & Co faces tribunal over alleged money laundering failures Former partner Ed Mills-Webb faces hearing in January after being put under investigation by company in 2019
HMM sees profits fall to earth in run up to privatisation Asian carrier blames overcapacity for a massive drop in freight rates
Weaker freight rates prompt Japanese shipowners to increase sales of older capesizes Values for older vessels have fallen below the $19m threshold for the first time since July 2021, says VesselsValue
SSY hires Jarl Magnus Berge as global head of finance Former NorthCape partner is looking for ways to develop broker's financial services offering
CNOOC and Pavilion toast their first LNG bunkering in China Partners kick off by supplying Maran Tankers VLCC in ship-to-ship operation at Guangzhou Port
Norden's bottom line buoyed by assets and logistics to stay on track for 2023 goal Copenhagen owner-operator launches share buyback programme while forecasting record year for one of its business segments
Stolt-Nielsen goes outside the family with new CEO pick Chief executive Niels Stolt-Nielsen steps down after 23 years and will become chairman of the board
Hapag-Lloyd profits plunge 77% in 'challenging market environment' Weaker demand continues erode profitability of German liner operator
China anti-graft probe targets senior BoCom Financial Leasing exec Ma Bin is the latest shipping official to be investigated in China's ongoing investigation into financial misconduct
Fearnleys moving in on Ocean Shipbrokers as group eyes broking expansion Consolidation moves rumble on in shipbroking market with talk of fresh deals in the works
Weaker freight rates prompt Japanese owners to increase sales of older capesizes Values for older vessels have fallen below the $19m threshold for the first time since July 2021, says VesselsValue
Higher FSRU rates boost Excelerate Energy's second-quarter income Floating storage and regasification unit owner narrowed its full-year guidance
Rising costs eat into Kim Heng's profits during first half of financial year Company forgoes dividend payout to shareholders as net profit falls by 53%
Hyundai Heavy Industries orders likely 'peaked' in 2022, says Nomura Analyst says rebound in tanker orders in 2023 will be insufficient to offset decrease in contracts for LNG carrier and container ship newbuilds
Container volumes grow from June to July for Georgia Ports Authority Container volumes in July rose sequentially by 17% but were down by 16% year over year at the Port of Savannah, the Georgia Ports Authority said Thursday.
HMM hit by 'intensified' imbalance between supply and demand Ocean carrier HMM attributed much of its first-half net-profit nosedive of 90% to overcapacity in the container shipping industry.
'Very noticeable impact' from down market $6B whammy to Hapag-Lloyd's profits "Weaker demand and lower freight rates are having a very noticeable impact on our earnings," said Hapag-Lloyd CEO Rolf Habben Jansen.
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