CONCOR & NVVN sign MoU to develop solar projects in CONCOR terminals
South East Air Cargo Conclave & Awards 2023 soars high with captivating deliberation, exciting awards & extensive participation
Baltic Exchange Market Report (8 December 2023)
Cabinet approves additional allocation of Rs 2,500 crore for continuation of Interest Equalisation Scheme on pre and post shipment Rupee Export Credit till June 2024
Force Majeure declared at Kattupalli
India-Korea Electronic Origin Data Exchange System (EODES) for faster clearance of imported goods launched
Digital economy to be 20 pc of India's GDP by 2026
COSCO SHIPPING issues 100,000th E-Bill of Lading
Average container freight rates down, cost to charter a ship up: Analysis
Allcargo Gati appoints Sandeep Kulkarni as Chief Operating Officer to drive strategic growth & operational excellence
Empty Equipment Imbalance & Handover Charge at South Africa ports
RBI estimates 7 pc GDP for FY24
World Bank appreciates India's focus on improving logistics efficiency
DGFT notifies ban on onion exports till March 2024
Hornbeck Offshore Services files for IPO Covington, La., headquartered Hornbeck Offshore Services (HOS) is planning a return to public listing on the New York Stock Exchange and has filed for an initial public offering (IPO) with the SEC.
Euronav brings ammonia powered VLCCs into its fleet expansion moves With 24 of its VLCCs being transferred to John Fredriksen's Frontline as part of a deal that resolved a long-running merger battle, Euronav NV (NYSE: EURN) has been rebuilding its fleet with
COSCO signs up for containership methanol retrofits COSCO Heavy Industry Shanghai Co. Ltd. has signed a contract with MAN Energy Solutions for the methanol retrofit of four main engines from COSCO Line 13,800 TEU Camellia class and 20,000 TEU
EU approves fairway deepening at Gothenburg port With preliminary studies, risk analyses, simulations, environmental permits, and other preparatory work now completed, the Skandia Gateway project has received the final green light. The European Union Commission's approval, confirming that state funding for the fairway deepening at the Port of Gothenburg is not considered state aid, marks a significant milestone. Following the EU Commission's an
Ramborn and CFL multimodal ink partnership agreement Ramborn and CFL multimodal, along with its subsidiary CFL logistics, are launching a long-term partnership. The Luxembourg-based international logistics expert will provide warehousing, customs, and distribution services to Ramborn, the cider producer in Luxembourg. Ramborn, a certified B Corporation, sought a compatible partner sharing its commitment to enhancing sustainability across the produc
SEKO Logistics and CakeBoxx Technologies collaborate for government, space and defense industries SEKO Logistics, a global leader in end-to-end logistics, has joined forces with CakeBoxx Technologies, an innovator in sustainable transport and storage solutions. By tapping into CakeBoxx's expertise in handling high-value, high-consequence cargo, SEKO aims to enhance its Government, Space and defence vertical. This collaboration underscores SEKO's commitment to redefining logistics in these cri
Global bunker indexes continue slight downward trend Marine Bunker Exchange (MABUX) reported that the 380 HSFO index fell to US$526.79/MT, the VLSFO index declined to US$655.50/MT and the MGO index dropped to US$900.13/MT. Global Scrubber Spread (SS), the price difference between 380 HSFO and VLSFO, fell another US$12 but remained over the key US$100 mark. The weekly average fell by US$8.23 as well. In Rotterdam, the SS Spread declined by US$7 to U
Hapag-Lloyd raises rates from Far East to North Europe and Mediterranean German ocean carrier Hapag-Lloyd will increase ocean tariff rates for Freight All Kinds (FAK) between the Far East and North Europe, as well as the Mediterranean. The rate increase will be effective from 1 January and will apply for cargo transported in 20' and 40' dry containers, including high cube equipment, and reefer boxes. Far East Westbound to Destination 20' Dry 40' Dry 40' HC 20' RF 40'
Wartsila introduces EvoTube® to improve Shaft Line technology for marine propulsion systems Wärtsilä has unveiled EvoTube®, a breakthrough in Shaft Line technology that promises to revolutionise efficiency and environmental sustainability of marine propulsion systems. EvoTube® is a significantly simplified system with fewer components than a conventional stern tube system. The inboard seal is mounted directly on the aft bearing housing, and the forward bearing is replaced with a standal
French engineering group SPIE sets sights on offshore wind with Corell takeover French engineering group SPIE has sealed a deal to take over UK-based offshore wind engineering, installation, and maintenance firm Correll Group. Correll stands out for its expertise in the connection and testing of submarine high-voltage cables for the interconnection of wind farms. The company, founded in 2014 and headquartered in Skelton, deploys its expertise in ...
BIMCO adopts four ETS clauses The shipping industry is facing an increase in new regulations from the International Maritime Organization (IMO) and the European Union (EU). To support the industry, shipping organisation BIMCO has developed a portfolio of new emission trading scheme (ETS) clauses. BIMCO's documentary committee adopted a new emission trading scheme allowances clause for BIMCO's ship management agreement, ...
Japan's Kansai signs up for Norwegian floating wind project Japanese utility Kansai Electric Power Company has joined Source Galileo, Odfjell Oceanwind and Vår Energi on a floating offshore wind project at the Goliat platform outside Hammerfest in Norway. The project called GoliatVIND is planned to be in operation in 2027, adding 320 GWh of renewable energy to the Hammerfest region. The offshore wind farm ...
Liner shipping outlines its four greenhouse gas 'cornerstones' The World Shipping Council (WSC), liner shipping's lobby group, has taken on the rallying call made at COP28 a week ago by some of its largest members and sent the International Maritime Organization (IMO) a paper outlining its four "cornerstones" critical to an effective IMO greenhouse gas agreement. In arguably the single largest shipping headline-grabbing ...
Prysmian wins $108m contract in Brazil Italy's Prysmian has secured a contract worth over €100m ($107.8m) by Petrobras to provide 170 km of deepwater electro-hydraulic umbilicals and the related specialized offshore and logistic services. The umbilicals will be engineered, produced, tested, and delivered in the 2024-2027 period by Prysmian's centre of excellence for dynamic technologies in Vila Velha, Brazil. "This award ...
Christen Sveaas slams Solstad restructuring deal Norwegian investor Christen Sveaas had come down hard on fellow tycoon Kjell Inge Røkke over the recent refinancing deal of offshore shipping company Solstad Offshore. Sveaas' investment vehicle Kistefos is demanding an extraordinary general meeting to consider lawsuits against the board of Solstad Offshore, and chairmen and general managers of the Kjell Inge Røkke-controlled Aker ...
COSCO signs for methanol engine retrofits at Marintec China COSCO Shipping has signed up a series of its containerships for a methanol dual-fuel revamp at the Marintec China exhibition in Shanghai. COSCO Group shipyard COSCO Shipping Heavy Industry has selected Germany's MAN Energy Solutions and Finnish marine technology provider Wartsila for the project. The deal covers four 13,800 teu and four 20,000 teu ships ...
US focuses on reducing Houthi threat in the Red Sea As well as discussing the idea of a naval coalition with allies, the US is looking to turn the cash taps off for the Houthi militants creating trouble for merchant shipping in the Red Sea in recent weeks. The US Department of the Treasury announced yesterday sanctions targeting an Iran-backed network for allegedly providing funding ...
Avance Gas pockets $240m from two VLGC resales Illustrative of how newbuild prices have shot up in the last two years, Øystein Kalleklev-led Avance Gas has just sealed a resale deal for two VLGCs for $120m each, ships it originally contracted for $78m back in April 2021. Avance Gas has yet to reveal who has paid the $240m for the 91,000 cu m ...
Ian Webber to step down as CEO at Global Ship Lease Ian Webber, the CEO of New York-listed boxship tonnage provider Global Ship Lease (GSL), has announced he will retire from the company he helped found in 2007. Webber will join the company's board of directors at the end of March with Tom Lister set to replace him as CEO. Like Webber, Lister has been with ...
Oldendorff preps a post-panamax for rotor treatment Canadian miner Teck Resources and German dry bulk giant Oldendorff Carriers will install Flettner rotors on a ship which carries shipments of Teck steelmaking coal from the port of Vancouver. The Dietrich Oldendorff post-panamax will sport the new kit by the middle of next year. The addition of the rotors, along with other emission savings ...
Salvage teams in Indonesia attend to grounded dark tanker Indonesian salvage teams have managed to free a shadow tanker that grounded in the Singapore Strait west of Batam. The 23-year-old, Cameroon-flagged ran aground on Saturday and it took through until Wednesday to get the suezmax free. According to TankerTrackers.com the ship is carrying nearly 1m barrels of Venezuelan fuel oil. A total of five ...
Dynagas Partners 'positive' on outlook for LNG shipping, despite bulging orderbook Third-quarter profits slip but owner is 'confident' in charter profile of six-ship fleet
Samskip secures investment for hydrogen boxship French investment group Eurazeo will invest $24m in Samskip's hydrogen-fuelled containership that is due for delivery in 2025
Top 10 flag states 2023 Liberia dethrones Panama after 20 years to take the crown as the world's largest Flag State, a development driven by...
Alternative fuels need to move beyond the VHS versus Betamax stage One was the better product. The other actually succeeded in the marketplace
BIMCO publishes ETS shipmanager clause BIMCO clauses follow final clarifications by the European Union that make shipowners responsible for ETS compliance, unless there is an...
Ukraine's Danube port turnover nears 30m tonnes this year, but demand starts to weaken The government still sees the Danube ports as a strategic area after the reopening of the big Odesa seaports and...
Angel officers still under detention in Taiwan Master writes second letter to president to plead for officers' release
Top 10 in ship finance 2023 Cexim is sending a clear message to grow shipping loans beyond China, despite challenges stemming from market forces, domestic economic...
Narrow focus on IMO targets could mean others are missed, report warns Shipping could still miss its 2030 IMO target for cutting emissions, even if it meets those for GHG intensity and...
Daily Briefing UK sanctions four companies linked to 82 tankers in Russian oil trades | CSSC yards flex muscle with multiple newbuild...
US slaps Iran with new sanctions amid Houthi attacks on shipping Some 13 individuals and entities, including a shipping agent, were sanctioned for their role in channelling tens of millions of...
Yellow attorneys quash 'going concern' bid for LTL network, equipment An attempt to buy and revive some version of Yellow was called "not viable" after a terminal auction raised $1.9 billion from 22 bidders.
Port of Los Angeles plans to build near-dock chassis facility, container storage yard Although the project site is currently unused, it was pressed into service as a storage yard for empty containers during the pandemic, with as many as 7,000 boxes stored there when it was at full capacity in August 2022.
Canadian shippers urge Ottawa to act as Montreal port talks hit impasse The union chief representing Montreal dockworkers said the big issue of wages has yet to be hashed out less than a month before the deadline for a possible strike at Canada's second-busiest port.
FMC officer dismisses complaint against Hapag-Lloyd over street turn charge Motor carrier TCW was unable to prove that street turn fees violate US shipping law in one of the first test cases to see how the Federal Maritime Commission might regulate those charges.
Glovis, partners order 12 new vehicle carriers, with options for more Hyundai Glovis has teamed up with HMM and Seaspan to spend almost $1.5 billion on new dual-fuel pure car and truck carriers as demand continues to surge in the ro/ro sector.
European Union updates its list of approved recycling facilities Three European yards removed from the list after quitting the business
Dynagas LNG Partners believes 17% of LNG fleet set for phase-out Chief executive says just 23 of giant LNG carrier orderbook are without time-charters
Editor's selection: Shipping's big guns make call on fossil fuels; race on for ammonia orders, and what do Atlantic charterers want for Christmas? Our team of journalists bring you the biggest and best stories of the week
Jonathan Quinn steps up to new MD leadership role at Avenir LNG Founding management team member steps into hot seat
IMO gives emotional farewell to 'unique' Lim as his eight-year leadership draws to close Outgoing secretary-general hears warm tributes to his skill in delivering on decarbonisation, safety and navigating Covid and political crises
Klaveness boss Ernst Meyer says shipping has to be taxed to net zero Regulation is not going to be enough with insufficient green fuels coming to market, Norwegian executive says
Congestion will be a constant in bulker markets, Trafigura's Cumming says Potential disruption at Panama Canal could continue for a year, dry shipping boss believes
Greece's New Shipping swoops on Eastern Pacific suezmax Greek owner Adam Polemis is linked to yet another purchase of big tanker tonnage
Viewpoint: Financing opportunities go beyond COP, it's time to look at international shipping The world needs to invest more in climate change, and the IMO has a key role to play
Wavelength: Who can stop the oil machine? COP28 and shipping seek answers World leaders may make bold statements in Dubai but it is difficult to see which of them will lead the way
Bimco publishes blueprint for sharing emissions trading burden Move comes just weeks before shipping is included in the EU emissions trading scheme
'Very real dangers': Trafigura's Olivi warns of increasing risks to strong tanker markets Trader's wet freight boss sees geopolitical and demand issues as potentially clouding positive outlook
Navios in the crosshairs of analyst Mintzmyer over proposed take-private deal But influential buy-side researcher sees a 'silver lining' for investors in intra-group deal
Tanker brokers calm as Venezuela ramps up pressure over disputed Guyana region Consensus is that US interests in oil-producing country make any military move by Maduro too risky
ONE boxship to undergo safety inspection after Suez grounding Vessel has safely passed through the waterway and is at anchor
Maritime software 'cornerstone' Veson looks to environmental tools as key growth pillar Tech firm focused on being bulk shipping's single platform is bringing carbon costs into decision-making
Hoegh LNG ties up with VTTI on Dutch FSRU plan The facility would kick off with LNG imports in 2027 before transitioning to hydrogen
Red Sea disruption and winter snows can support MR tanker rates into 2024, Concordia says CEO Erik Lewenhaupt identifies reasons to be cheerful for owners
'Committed' Pistiolis builds 73% stake in Greece's Top Ships Tanker owner boss has been snapping up stock in the open market and converting preferred shares
Swedish Club seeks 7.5% rate hike for upcoming P&I renewal P&I insurers are asking for either 5% or 7.5% rate increases next year
Cadeler reports 'strong' response to $1.2bn Eneti merger as it lowers acceptance threshold Eneti shareholders tender 78% of stock as offer deadline extended
Christen Sveaas snaps up more Solstad shares as he tries to oust board Norwegian investor now holds 16% of major offshore shipowner ahead of crucial vote
Dry-dockings, engine overhauls and finance costs drag down Dynagas LNG Partners But six-ship fleet remains booked out until 2028
CEO Pistiolis 'committed' after building 73% stake in Greece's Top Ships The boss of the US-listed tanker owner has been snapping up stock in the open market and converting preferred shares
Sovcomflot-linked unit among UAE ship operators hit by UK sanctions Steps were announced on the day Vladimir Putin made a state visit to Dubai
Large ammonia ship orders set for lift-off as buyers circle berths Two more gas shipowners linked to planned newbuildings for burgeoning fleet
Elderly suezmax tanker carrying Venezuelan fuel oil grounds off Indonesia Cargo transfer from the Liberty awaiting owner's approval after Saturday's incident
Avance Gas sells last two VLGC newbuildings for huge $73m profit John Fredriksen company offloads 91,000-cbm vessels due next year for $240m en bloc
Oldendorff and Teck to fit rotor sails to bulker in expansion of green initiative German owner and Canadian miner expand their two-year-old green initiative to embrace wind technology
Industry is uniting to promote decarbonisation despite split strategies, says MOL CEOs at COP28 have called on regulators to act to create a level playing field to promote the use of green fuels
MOL's windy vision: A fleet of power-generating autonomous ships Senior executive offers tantalising prospect of shipping as hunter-turned-gamekeeper in emissions battle
FIS celebrates its coming of age with milestone Shanghai shindig World's biggest broker of freight derivatives has had a presence in China for the past 15 years
South Korea's Kmarin floats 15-year-old LNG carrier for sale But asset seller's expectations and buyers' pricing seem some way apart
NYK plots 2028 launch for green shipping corridor from Chile The project to haul Chilean copper to the Far East in ammonia dual-fuel bulkers is aimed at kickstarting decarbonisation
PIL teams with DP World in latest liner sector decarbonisation effort Singapore liner company says initial collaboration will include trials of biofuels and other alternative fuels
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