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SEPTEMBER 11, 2023

Multimodal economic corridor between ASEAN, Europe via India proposed Global container volumes seen improving next year Baltic Exchange Market Report (8 September 2023) Shipping Secretary unveils new logo of V. O. Chidambaranar Port Equinor & Maersk partner to ensure continued green methanol supply for the world's first methanol-enabled container vessel CMA CGM PSS from Indian Subcontinent, Middle East Gulf, Red Sea & Egypt to US East Coast & US Gulf MOL & Shell to collaborate in maritime decarbonisation Double banking prohibition in UAE waters Tea exports dip in H1 Agro-chemical industry seen growing at over 9 pc

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SEPTEMBER 11, 2023

A hidden champion Ceva opens new route from China Seko Logistics: David Emerson steps down Swiss aid for Greek floods ZIM and MSC forge operational pact Alha: closer collaboration with Cargolux at MXP Fast 'Carolina Connector' rail service launched Bluebox Systems picks new global sales manager Italian Galardi and French Naxco groups merge Maersk expands in Colombia and Panama A tandem to build a UAM ecosystem Long hauls with a bio-LNG powered truck Maurice Unck to succeed Bob van Ierland Kuehne + Nagel: a GXP compliant area in Chicago Less throughput in Hong Kong Block trains from Shenyang to Moscow Ethiopian enhances its cargo service in Mexico "Curiosity of the Day" Spot rate at its lowest in more than three years

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SEPTEMBER 8, 2023

'It's messed up', says Flexport's Petersen as he 'fires' 75 new staff live on Twitter Asia to Europe spot rate plunge pushes carriers to cancel loops last-minute Ever decreasing circles as Kuehne continues HHLA hunt Expect more blankings on the 'difficult' and 'sensitive' transatlantic trades Old Dominion, XPO, Saia... and driver shortage 'my arse' (remake) Cross-border e-commerce props up soft Chinese air cargo demand Chennai losing out to private terminals as Indian east coast trade grows Overland opportunities surge in central Asia as Kazakhstan becomes key

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SEPTEMBER 8, 2023

NTSB says failure to maintain crane barge led to $6.3 million loss In its latest report involving a crane barge accident, the NTSB says that an owner's lack of inspection and maintenance led to the capsizing and sinking of a crane barge last year Philly Shipyard delivers first NSMV training ship The first of five much awaited new training vessels for America's state maritime academies was delivered today by Philly Shipyard, This first vessel, the Empire State will serve SUNY Maritime College, in

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SEPTEMBER 8, 2023

Port of Melbourne issues sustainability linked loan Port of Melbourne has recently completed a $475 million sustainability-linked loan (SLL), financed by a syndicate of 10 banks. The loan links to two sustainability indicators covering scope 1 and 2 emissions reduction, and a mental health first aid workplace certification together with an overarching gateway target tied to engagement with port stakeholders to facilitate scope 3 emissions reductio Kuehne+Nagel starts expansion of its Chicago facility Kuehne+Nagel announced the opening of its Chicago facility's expansion with a new GxP-compliant area. In particular, the expansion features 1,950 m² of temperature-controlled space with separate areas to support a range of climate requirements - from +2°C to +25°C - specifically designed for healthcare operations. Earlier this year, the company moved from Elk Grove Village, IL to Bensenville, IL, Maersk consolidates India-Far East string as realignments continue Maersk is reportedly considering combining its two services serving Indian trades to adjust capacity in line with current market conditions. According to industry sources, the Jade Express Service, a shuttle service connecting ports in the subcontinent, will soon merge into the FI3 (Far East-India) Service. Ahead of that change, the FI3 port rotation is being expanded with new calls at Mundra (In ONE's new service calls at HHLA PLT Italy for first time HHLA PLT Italy, Hamburger Hafen und Logistik AG's Italian terminal in Trieste, welcomes the arrival of the container vessel line Ocean Network Express (ONE). More specifically, for the first time, the Singaporean container carrier calls at the city in the North Adriatic inaugurating the start of the new service, Adriatic Israel Butterfly (AIB). The AIB service connects the North Adriatic with Egy ONE changes Ningbo terminal on MD1 service Ocean Network Express (ONE) announced a change in the Ningbo terminal on MD1 service with its vessels swapping from the current Ningbo Port Beilun Second Container Terminal NBSCT to Daxie International Terminal CMIT. The change will take effect from mid-September. The post appeared first on Container News . Port of New York and New Jersey handles over 725,000 TEUs in July The Port of New York and New Jersey was the busiest port in the United States in July, moving 725,479 TEUs, the highest monthly total since October 2022, and taking the port's year-through July total to 4,465,823 TEUs. The monthly result represents a 6.5% reduction from July 2022, when the port handled 776,167 TEUs. Moreover, TEU imports fell by 7.7% in July compared to July 2022, totalling 372,1 Three seafarers die in suspected enclosed space death on bulker Three Chinese seafarers are believed to have suffocated after they were trapped in an enclosed space on board the Chinese-operated Kamsarmax bulk carrier MSXT Echo. The 2021-built ship, operated by China-based MSM Ship Management, had arrived in Taiwan's Hoping port around 8pm local time on 6 September, carrying coal from Richards Bay, South Africa. As MSXT Echo neared the port, the ship's crew r CMA CGM completes acquisition of GCT Bayonne and New York box terminals CMA CGM Group has completed the acquisition of Global Container Terminals (GCT) Bayonne and New York terminals, aiming to strengthen its position as a global port terminal operator. The French shipping company is now the shareholder of GCT Bayonne and New York terminals, finalising the agreement announced on 7 December 2022. Port GCT Bayonne and Port GCT New York will expand CMA CGM's portfolio o Equinor to supply Maersk's first methanol-enabled feeder with green methanol A.P. Moller - Maersk and Norway-based energy company Equinor have signed an agreement securing supply of green methanol for Maersk's new methanol-enabled feeder vessel during its initial months of operation from September 2023 and into the first half of 2024. The deal ensures green methanol supply for the ship from its entry into operation on a loop from Northern Europe into the Baltic Sea after Combative MSC says shippers must look forward Shippers do not know the real cost of moving a container, cargo owners must pay the right price for moving containers, most shippers want to "screw" the lines said MSC. In a battling performance on the JOC's Transatlantic trade webinar, the Swiss-based carrier's senior VP and head of Europe to North America trade Pasquale Formisano said that "99% of shippers want to screw us and get the most out

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SEPTEMBER 8, 2023

Turkey's Feyz Group returns to Damen for two more ships Istanbul-based Feyz Group has returned to Dutch shipbuilder Damen for two more combination carriers. The deal comes hot on the heels of the order for three 3,850 dwt ships, which will be built at the Damen Yichang Shipyard in China for delivery in early 2025. The new order covers a general cargo ship from Damen's ... Saipem lands new contracts worth $910m Saipem has clinched two new offshore contracts in Ivory Coast and Italy worth a total of around €850m ($910m). The Milan-listed energy services player has secured more work with Eni Côte d'Ivoire and its partner Petroci on the Baleine development. The so-called SURF contract for phase 2 of the project covers engineering, procurement, construction and ... Radziwill's GoodBulk shorn of ships, eyes 'new opportunities' GoodBulk, one of the most high profile names in dry bulk shipping, is now free of vessel owning. The John Michael Radziwill-led company has confirmed it has completed the sale of the last of its fleet, a remarkably quick process which has seen ships prefixed with Aqua dominate broking S&P reports all year. Announcing its ... UK renewable round flops with no bids for offshore wind projects A significant blow has been dealt to the UK's decarbonisation strategy following no offshore wind bids being submitted in the latest Allocation Round. The round works on a contracts for difference mechanism which guarantees consumers will pay a fixed price for the energy generated by the bidder. With lower wholesale prices subsidies added to customer ... Maersk taps Equinor to supply fuel for its landmark green methanol-powered feeder boxship Danish liner giant Maersk has struck a deal with Norwegian energy major Equinor for the supply of green methanol for its first methanol-fuelled 2,100 teu feeder vessel into the first half of 2024. Equinor has a methanol plant at Tjeldbergodden in mid-Norway and is already an established player in Europe, with ambitions "to be a ... Jiuzhou Shipping sells last cape Sources tell Splash a Fuzhou-based owner, Jiuzhou Shipping, has sold the 176,000 dwt (built 2011) for $23m. The sale indicates an exit to shipowning by the low-profile owner. No taker has been identified. This is the youngest cape sold this summer. Few takers have been identified in the cape S&P scene of late but both Chinese accounts and Middle East-based players are ... Dubai's Teodor Shipping sells its only VLCC Sales registers show that Dubai-based Teodor Shipping has sold its only VLCC shortly after buying it. The 17-year-old Vatika has already been delivered and renamed . No price or taker is attached to the deal, but the vessel is most likely sold with a loss, as VesselsValue estimates the market value to be under $50m. The ship ... Uni-Tankers expands fleet with one buy and four newbuild orders Uni-Tankers said in a statement that it would be adding the 6,043 dwt modern ECO vessel to its owned fleet. The company also signed a long-term deal for two newbuild sister vessels to Sedat Basak with stainless steel tanks which will be delivered in 2024 and 2025. All three vessels are of modern ECO design ... London retains maritime arbitration crown London handled more than 85% of the world's maritime arbitration in 2022 according to the findings of a new report published by law firm HFW. The report shows that in 2022 the UK capital handled approximately 1,907 new cases. This represents an almost 12% increase on the 1,703 cases in 2021. London's closest rival Singapore ... Form follows function when it comes to ship design What will ships of the future look like? For those hoping for something more atheistically pleasing, don't hold your breath, writes James Wilkes from Gray Page. American architect Louis Sullivan (1856 - 1924) - the 'father of the skyscraper' and 'father of modernism' - is credited with the axiom 'form follows function' by which he ... KCA Deutag wins $60m contract extension in Angola Drilling and engineering contractor KCA Deutag has secured more work on two offshore platforms in Angola. A one-year contract extension, worth $60m, will see KCA Deutag continue to deliver drilling operations and maintenance as well as crane operations and maintenance, materials management, and equipment rental services for an unnamed existing customer, extending the company's working ... Prysmian bags $674m Adriatic Link contract Italian cabling giant Prysmian has secured a contract worth around €630m ($674.3m) from compatriot transmission system operator Terna for the Adriatic Link interconnector project. The contract includes the design, supply, installation, and commissioning of a link between the Marche and Abruzzo regions that should contribute to de-carbonise Italy's energy system. The route, running for a ... Capital Gas joins Eastern Pacific in ordering very large ammonia carriers Evangelos Marinakis-led Capital Gas Ship Management Corp has ordered the world's largest ammonia carriers, signing for two 88,000 cu m very large ammonia carriers (VLACs) at HD Hyundai Heavy Industries in Ulsan. The ships are scheduled to be delivered by the second half of 2027, a sign of the extraordinarily long orderbook at the South ...

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SEPTEMBER 8, 2023

Shadowy trade in 'stolen' grain from Russia-occupied Azov ramps up Trade in grain from Russia-occupied Mariupol and Berdiansk has risen in recent months, adding potential sanctions headaches for grain buyers... Dry bulk market should keep faith in China rebound, says BRS BRS expects modest market rebound in the fourth quarter and greater support measures from China's property and construction sectors Collisions investigations are more than a whodunnit 'Shipping companies should empower their crews to make the right decisions,' says Andrew Moll, MAIB's Chief Inspector of Marine Accidents... ClassNK adds to calls to ramp up zero-emission fuels supply ClassNK president and chief executive Hiroaki Sakashita addressed a perceived lack of common understanding about the implications of the revised... Capital Group sees very large ammonia carriers as latest step in building 'trailblazing' fleet Capital and Eastern Pacific have agreed with South Korean builder to 'explore' ammonia dual-fuel propulsion for the vessel series Claims and total loss frequencies rising, Cefor statistics show Boxships dropping in renewal value but healthy increases for tankers Cosco inks China's first ESG-Linked shipping loan Move could be seen as a template for wider adoption in China, as domestic owners and banks increase focus on... A week is a long time in politics. Just not when it's London International Shipping Week Britain's schools are crumbling. So is UK maritime policy Equinor ties up green methanol supply for Maersk's pioneering boxship Equinor's senior vice-president for its liquid commodity segment said that the company has ambitions to be a key provider of... Capacity culls fail to stem container rates rout Carriers are increasingly using blank sailings to match supply and demand. But falling rates show it is too little too... MOL and Shell agree to work together on green fuels Mitsui OSK Lines and Shell Marine Products Singapore agreed an MOU to work together on future fuels, including trialling bio-... GoodBulk eyes 'new opportunities' after selling entire fleet Capesize specialist says the move marks closure of 'first investment cycle' Scotline collision report finds series of safety failings The accident report into a collision in which two Danish seafarers died also found evidence that disabling of safety barriers... Three Chinese crew die on bulker off Taiwan Authorities suspect the men suffocated from inhaling toxic gas in the hold of bulk carrier MSXT Echo off Taiwan's east... Imperial Petroleum agrees acquisition of two Vafias tankers Owner also announces $10m share buyback programme Daily Briefing Attica CEO resigns after 'unjustifiable' passenger tragedy | Empire Navigation pleads guilty to sanctions violations in Suez Rajan case |... Lloyd's List at London International Shipping Week 2023 London International Shipping Week kicks off on September 11. Our experts will be showcasing their knowledge and speaking to thought... Boxship sale and purchase market dominated by recycling sales Falling charter rates have reduced the amount of modern containerships coming on to the sale and purchase market, while there... Shipping must be better prepared for climate risk, warns LR forecast From climate change to geopolitics, shipping needs to prepare for the future. A new report from Lloyd's Register sets out... Greek Parliament ratifies Grimaldi takeover of Igoumenitsa port Four offers received for Volos port in latest privatisation tender

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SEPTEMBER 8, 2023

CORRECTION: ITS Long Beach to remain open amid search for new carriers Although the ITS terminal in Long Beach lost two major services in less than a year, the facility will remain open while it attempts to find customers to make up for the volume shortfall in the ongoing down market. Minor peak season expected in domestic intermodal market: Hub Group The intermodal provider's CEO believes there will be a small peak season between now and early November despite data from the US Surface Transportation Board showing volumes are down compared with last year. Air cargo facing non-existent demand growth for a 'few quarters': Xeneta A widening imbalance between available air freight capacity and demand has dragged global rates to their lowest level since the start of the pandemic, with no signs of volumes improving on key outbound routes from Asia. IANA building geofencing for rail, marine terminals to track box, truck moves The Intermodal Association of North America is building a geofence library for rail and marine terminals, which could provide better tracking of when containers enter and exit the terminals. US truckload sector picks up pace to meet rising threat of cargo theft Freight brokers, load boards, technology providers and law enforcement are attempting to contain the growing threat of truckload cargo theft and the fraudulent schemes that underpin it. Underlying US LTL demand 'relatively consistent' post-Yellow: ODFL While the country's second-largest LTL provider gained shipments in August after the demise of Yellow, it sees no signs that overall freight demand is improving. ITS Long Beach container terminal to close amid search for new carriers After losing two major services in less than a year, ITS will close early next month while it attempts to find customers to make up for the volume shortfall in the ongoing down market.

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SEPTEMBER 8, 2023

Ukraine rejects concessions to Russia to revive UN grain corridor Kyiv seems increasingly focused on efforts to set up its own independent grain export scheme instead Oil sale already approved in US forfeiture action against Suez Rajan cargo Proceeds from selling the oil are expected to be deposited in a fund for victims of terrorism US launches forfeiture action against Suez Rajan cargo after Empire Navigation plea Proceeds from selling the oil are expected to be deposited in a fund for victims of terrorism Capesize bulkers join smaller segments' uptrend as trading from Atlantic to Far East picks up Supramaxes and handysizes continue to benefit from strong market on back of South American grain volumes Exmar profits surge on revenue gains as newbuildings locked into long-term charters Infrastructure projects lift top line for LNG and LPG shipowner Charter rates for LNG carriers trend up as Australian strikes loom LNG shipowners in bullish mood at huge Gastech meeting in Singapore AP Moller-Maersk slashes Hoegh Autoliners stake in NOK 1bn deal Danish giant sells 16.9m shares in the Oslo car carrier owner, nearly halving its position Editor's selection: London calling, Goodbulk's dry goodbye and Marinakis' ammonia double act A recap of some of the biggest stories of the week ITF warns of 'significant ramifications' for seafarers after Russia brands union 'undesirable' Union refutes claims about pro-Western actions made by state prosecutor's office Lois Zabrocky channels Janet Jackson as she tells International Seaways value story US CEO answers her own question on Fearnley Securities webinar: 'What have you done for me lately?' Scorpio Tankers' Robert Bugbee says 'Christmas coming early' for product trade Boss of Monaco-headquartered shipping company is upbeat about prospects as charterers ask him to 'dirty up' product carriers MOL and Shell Marine shake on alternative fuels tie-up Move comes after Japanese shipping giant signed a similar deal with Chevron Lois Zabrocky channels Janet Jackson as she tells Seaways value story US CEO answers her own question on Fearnley Securities webinar: 'What have you done for me lately?' Talent pool and connection to global shipping hub fuels UK tech It is not government support that is fuelling innovation in London and southern England, leading innovators say Torm's Meldgaard says two LR2 product tankers fixed as new exports flow from China to Europe Danish shipowner's CEO explains that fresh quotas mean cargoes have started appearing in the last couple of weeks Charterers will chase more tanker term deals ahead of winter season, Torm says Danish CEO agrees with Euronav's Brian Gallagher that more cover will be added as rates strengthen Limiting the shock: Ukrainian families find a home-from-home, with a little help from shipping People in shipping have stepped in to support families undergoing a new set of problems while displaced in Poland - but more help is needed Lone Scot Carrier watchkeeper distracted by video chats with strangers ahead of fatal crash UK authorities remind owners that two seafarers must be on the bridge during hours of darkness We're not buying, say tanker owners as newbuild prices soar Frontline, Euronav and OET say they are focused on securing earnings from their current fleets 'Major expansion': Uni-Tankers buys Turkish ship and charters four newbuildings Danish product carrier player lowering the average age of the fleet in a series of deals Tanker shipowners pull ships from secondhand market with higher rates ahead Analysts and shipbrokers note lack of impetus as sellers refuse to chase prices downwards Hoegh Autoliners keeps chugging along with August volumes and rates in line Car carrier shipowner's volumes have stayed steady through the warmer months Turkey's Feyz Group makes quick return to Damen for more Combi newbuildings Shipowner inks two more versatile cargo ships at Dutch shipbuilder as fleet renewal continues Few Nordic shipping companies make 'A' grades ahead of 'avalanche' of sustainability rules ESG advisory firm says industry faces gaps to achieve upcoming EU reporting standards Equinor steps in to supply green methanol to new Maersk feeder ship Norwegian energy giant aims to become a big player in alternative fuels for shipping Euronav's two-year VLCC time charter 'just the start' in strong tanker market The company says charterers will look to tie down tonnage on long-term deals with the tanker orderbook at a 30-year low Marine insurance claims return to pre-pandemic levels as inflation bites Insurance association Cefor sees inflation starting to impact on insurer's costs London retains status as global insurance capital despite declining market share Ukraine conflict has helped the centuries-old insurance market showcase its capabilities RFOcean's Rye-Florentz keeps his 'options open' on future orders after inking tankers in China London-based Norwegian hints at the prospect of bigger vessels and investing in any segment Three seafarers die in hold of China Minsheng Trust bulker off Taiwan Crew members were found unconscious on the MSXT Echo Flexport founder returns to lead company after high-profile CEO quits Digital freight forwarder says emphasis will return to operational excellence and profitability Japan's Oshima starts building bulk carriers at Koyagi shipyard Giant facility could provide much sought-after capacity for early-delivery bulk carriers Winning Shipping orders large bauxite carriers in China Shipbuilding market sees first VLOC deal in three years 'Exciting period': VLCC term charter market roars as Tsakos highlights deal at 15-year high Three-year contract comes in at nearly $55,000 per day as spot rates continue to languish during annual slow period