BMT and Penguin picked to deliver next-gen Singapore fire and rescue boats The Singapore Civil Defence Force (SCDF) has selected BMT and Singapore shipbuilder Penguin Shipyard International to design and build its next generation of fire and rescue boats, designated "MFV-R." The 38-meter vessels
Wind turbine components can pose a bridge visibility problem Imports of wind turbine components may be good news for ports, but some vessels arriving in the U.S. carrying them may find themselves in breach of U.S. bridge visibility regulations. The Coast
Bollinger awarded contract for sixth Navy berthing barge Bollinger Shipyards, Lockport, La., reports that the U.S. Navy has awarded it the detailed design and construction contract for the sixth Auxiliary Personnel Lighter-Small (APL(S)) 67 Class berthing and messing barge. Construction
Veson Nautical to acquire VesselsValue Veson Nautical, a marine freight management solutions provider, announced its intention to acquire the UK online pricing platform VesselsValue. The amount of the possible transaction has not been disclosed. VesselsValue was developed in 2011 with the goal of increasing transparency in the maritime industry and now has a database of over 81,500 vessels. "In addition to valuing the world's fleet, V
ILWU action shuts down US West Coast giant container ports International Longshore and Warehouse Union (ILWU), a labor union which primarily represents dock workers on the West Coast of the United States, Hawaii, and in British Columbia, Canada, has taken a concerted action to withhold labor at the Ports of Los Angeles and Long Beach, resulting in widespread worker shortages. A majority of the jobs for the night shift on 7 April, went unfilled, including
HHLA TK Estonia handles largest ro-ro vessels to ever call at Muuga port Finnlines' vessels Finnsky, Finnbreeze, and Finneco arrived at HHLA TK Estonia terminal in February and March becoming the largest ro-ro vessels to dock in Muuga port. The call of Finneco is especially noteworthy since the ship can accomplish zero emissions during port visits, according to HHLA. Finnlines ships departing Travemünde in Germany called at Muuga port seven times in total. A total of
HMM shareholders discontent with dividends HMM's shareholders have demanded higher dividends as South Korea's flagship container carrier has seen its stock price halve with the normalisation of freight markets. At HMM's annual general meeting, shareholders complained about how the company's directors were given performance bonuses despite the lackluster stock price. While the stock price rallied to close at US$15.16 today, it had reached
Hafnia, Microsoft, DNV, IMC Ventures and Wilhelmsen launch maritime digital venture studio Hafnia, Microsoft, Wilhelmsen, IMC Ventures and DNV launched a new digital venture studio, "Studio 30 50", led by Shanker Pillai. The studio's objective is to identify new solutions which can address a broad range of Environmental, Social and Governance (ESG) topics concerning the maritime industry, while also funding innovative proposals which seek to improve efficiencies across the whole mariti
Euroseas inks new boxship charter deals Euroseas, a container vessel owner and operator, announced new charter agreements for its two container vessels, Synergy Keelung and Gregos. Euroseas signed a new time charter contract for Synergy Keelung for a term of between 24 and 26 months at the charterer's decision, at a gross daily cost of US$23,000. The new charter for the 4,253 TEU vessel built in 2009 will commence in April 2023 immedia
US freight recession impact on Transpacific and Transatlantic container trade The post-pandemic trade slowdown in the United States is impacting household goods demand far more seriously than industrial freight demand, according to analysts appearing on the latest episode of The Freight Buyers' Club podcast. This can explain why since the second half of the last year, the Transpacific container trade has seen freight rates and demand drop far more significantly than the Tr
APM Terminals invests in new container handling equipment at Nigerian terminal The West Africa Container Terminal (WACT) commissioned 16 brand new terminal trucks to boost efficiency and cargo handling operations at Onne Port in Nigeria. Additionally, the new equipment is expected to improve the turnaround time for vessels calling WACT. Managing director of APM Terminals Nigeria, Frederik Klinke, commended WACT for acquiring and deploying the new trucks. "This is truly an a
Global trade growth to slow down in 2023: WTO World Trade Organisation (WTO) economists said in a new forecast that global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall. In fact, weighed down by the effects of the war in Ukraine, high inflation, tighter monetary policy and financial market uncertainty, the volume of world merchandise trade is expected to grow by 1.7% this year
JAXPORT appoints new board member Jacksonville Mayor Lenny Curry has appointed Jacksonville business and civic leader Soo Gilvarry to JAXPORT's board of directors, after the Jacksonville City Council unanimously approved Gilvarry's appointment on 28 March. Gilvarry is the CEO/Owner of Lotus Commercial USA LLC, a Jacksonville-based commercial real estate development firm that is currently redeveloping the historic old Furchgott's
Diana Shipping fixes out latest ultramax purchase Greek bulker owner Diana Shipping has secured a time charter deal for the 2016-built ultramax acquired in February this year. The Semiramis Paliou-led New York-listed company has fixed the DSI Drammen, formerly , to Singapore-based IMC Shipping for around one year at $18,250 per day. The charter starts on April 15, 2023 and comes with ...
Peninsula adds to Middle East bunker tanker fleet Bunkering specialist Peninsula has added another tanker to bolster its supply operations in UAE's Fujairah, the third largest bunker fuel market in the world. The Gibraltar-based company has expanded its fleet with the , ex-Pearl Majestic. According to VesselsValue data, the 2019-built 8,000 dwt ship has been acquired from Singapore's Consort Bunkers for $14m. Peninsula ...
Veson Nautical acquires VesselsValue Boston-based shipping software company Veson Nautical has sealed a deal to acquire UK online pricing platform VesselsValue for an undisclosed sum. With a database consisting of more than 81,500 vessels, VesselsValue has been focused on acquiring, storing, and commercialising data in the form of valuations, reports, and market insights. Founded by Richard Rivlin in 2011, ...
DOF AHTS secures more work with Equinor Norway's DOF has won a new three-year contract from Equinor for its handing tug supply vessel . The contract with two one-year options attached will start in direct continuation of the vessels' current employment. The 2010-built vessel is one of the largest units in its class and has been operating for Equinor since delivery. The ...
Scorpio Tankers pounces on six more leased ships New York-listed Scorpio Tankers continues to reduce its debt by exercising more purchase options. The Emanuele Lauro-led operator of 113 product tankers has opted to buy six leased ships in a move that will slash the debt by $147.3m. The deal, expected to close in June, includes the 2019-built LR2 STI Lobelia and five MR ...
Vopak buying into Eemshaven LNG terminal Dutch tank storage specialist Vopak has reached a principal agreement with state-owned energy network operator Gasunie to acquire 50% of EemsEnergyTerminal. Gasunie's subsidiary has developed a floating LNG import terminal in the Eemshaven area in response to gas supply insecurities and a desire to be less dependent on Russian gas. The terminal has been in ...
Maersk Supply Service sets sights on European offshore wind sector Denmark's Maersk Supply Service has teamed up with GustoMSC, a subsidiary of NOV, to design the next generation wind installation vessel fit for the growing offshore wind market in Europe. The new design will build on the same patent and characteristics of the current feeder concept, which was designed to operate in US waters. The ...
Shipping Corp of India privatisation process moves a step closer Shares in Shipping Corporation of India (SCI) leapt today following a report carried by Reuters that the government would press ahead with the long delayed privatisation process of the Indian flagship. The government plans to invite financial bids once again for the privatisation of SCI in the middle of next month, Reuters reported, citing sources ...
Kumiai Senpaku teams with CITIC Leasing for 11 ships at Chengxi Shipyard 11Japan's Kumiai Senpaku has joined forces with CITIC Financial Leasing, a subsidiary of China's CITIC Bank, for eleven newbuilds at state-owned Chengxi Shipyard. The deal covers ten 84,500 dwt multipurpose ships and one 17,600 dwt asphalt carrier. Delivery dates and financial details have not been disclosed. The MPP units will be fit to carry pulp, ...
InterMoor wins Chevron decommissioning contract in Thailand InterMoor, an Acteon brand, has been awarded a decommissioning contract by Chevron Thailand Exploration and Production (CTEP). Following the successful completion of the decommissioning scope of work in the Gulf of Thailand in 2021, Chevron has extended InterMoor's contract by adding more packages for the disconnection and removal of pipelines. The contract extension covers project ...
Stolt Tankers deploys graphene-based propeller coatings in latest decarbonisation drive Stolt Tankers has become the first chemical tanker company to apply Graphite Innovations & Technology's graphene-based propeller coatings to its fleet. Stolt Tankers and Graphite Innovations & Technology (GIT) have signed a two-year agreement to apply GIT's XGIT-PROP graphene-based marine coating to the propellers of 25 Stolt Tankers ships during 2023. XGIT-PROP is a product ...
Euroseas setting container charter benchmarks NASDAQ-listed Euroseas is setting the pace in the remerging container charter scene, announcing details today of a three-year-plus charter of a newbuild feeder for a firm $48,000 a day. The Greek owner has just taken delivery of the 2,800 teu from Hyundai Mipo Dockyard in South Korea and sent it out on a 36 to ...
Cape sales proliferate Cape sales done in March have now been compiled by the online portal VesselsValue, showing 17 vintage capes sold in the month, including four modern newcastlemaxes. The string of fresh deals has pressed prices up, and as Easter closes, brokers are upbeat for more sales in the month to come. According to BIMCO, five-year-old secondhand ...
Singapore tanker hit by pirates off Cote D'Ivoire A Singaporean-flagged chemical/products tanker was reportedly boarded in international waters 310nm south of Abidjan, Cote D'Ivoire. Security consultants Ambrey noted that the vessel's AIS transmissions stopped at 14:25 UTC, 25 minutes after the incident reportedly started. At the time, the vessel was drifting with an estimated 2.1m freeboard. Ambrey understands that the vessel routinely engages
Gary Chapman stepping down at KNOT Offshore Partners Gary Chapman will be stepping down as chief executive and chief financial officer of New York-listed shuttle tanker player KNOT Offshore Partners, roles he has held since June 2019. The Aberdeen-based company, which operates primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil, said Chapman has given notice ...
Borr Drilling fixes all rigs Tor Olav Trøim's Borr Drilling has won a contract for the last free jackup in its fleet. The Keppel FELS-built premium rig Hild has been booked by an undisclosed operator for work in Latin America. The New York and Oslo-listed jackup rig pure-play said the contract will start in the third quarter of 2023 following ...
Navigazione Montanari takes back eight tankers Italian owner Navigazione Montanari has purchased eight product tankers from Vassholmen Shipping, a subsidiary of Cyprus-based sale and leaseback specialist Sole Shipping. Nai, the Maltese unit of Fano-headquartered Montanari has exercised call options on the tankers that were sold and bareboat chartered back in December 2018. The deal included the 2008-built MR1 units Valcadore, Valgardena, ...
Anyone got a meth lab? Andrew Craig-Bennett ponders the difficulties of using green fuels. A.P. Moller-Maersk seems to be going to pull off a coup. A containership is on order for its account, intended, from its dimensions, for the European feeder container trade, and able to operate in the Baltic, which is not unusual, and this ship is intended to ...
Lawsuit claims US federal government violated regulations in approving Massachusetts offshore wind project A Texas non-profit research institute that aims to promote free enterprise in Texas and the nation is acting on behalf of fishing companies in Massachusetts, a state 2,000 miles away, in a lawsuit that seeks to stop development of the Vineyard Wind offshore wind project. The Texas Public Policy Foundation (TPPF) has named the US ...
Maryland passes legislation to expand offshore wind The US state of Maryland on Monday passed the Promoting Offshore Wind Energy Resources Act, known as the POWER Act. The state's governor, Wes Moore, is expected to sign the bill into law. According to the Chesapeake Climate Action Network (CCAN), a nonprofit dedicated to fighting global warming in Maryland, Virginia and Washington, D.C., the ...
Hafnia launches digital venture studio with Microsoft Product tanker owner Hafnia, along with Microsoft, Wilhelmsen, IMC Ventures and DNV, has announced the launch of a new digital...
Scorpio continues exercising purchase options Purchase of one long range two and five medium range product tankers would reduce Scorpio's debt by more than $147m...
Oldendorff and Cargill join dry bulk FFA development group Independent Freight Forward Agreement Association has been set up to bolster liquidity
UK ports face financial cost of Brexit border control confusion BPA wants government to pick up most of the tab for 'white elephant' facilities, which on some estimates have left...
Container freight demand continues to retreat Headhaul routes on the key east-west trades saw sharper falls than the global average. Underlying numbers describe a weak freight...
Daily Briefing Operations resume in Los Angeles and Long Beach | CMA CGM orders 16 boxships with CSSC yards | UN's VLCC...
The week in charts: Trade patterns of blacklisted ships | UAE facilitating Russian oil trades | Iran oil exports stay firm Iran's oil exports remained robust in March, Australia's bulk commodity exports expected to hold steady, and alternative fuel vessel orders...
The week in newbuildings: Orders for 39 ships signed Newbuilding contracts for 14 bulk carriers, four gas carriers and 21 tankers recorded in the past week
Abandonment guidelines safeguard shipping's most important asset: seafarers The guidelines are a joint initiative from the International Chamber of Shipping and the International Transport Workers' Federation. They were...
Maritime safety is 'more than data-driven regulation' Data alone will not improve levels of safety, even when it supports regulation. Attempts to seek a common denominator for...
Port Hedland clears vessels as cyclone approaches All anchorages within the Port Hedland boundary have been cleared, says Pilbara Ports Authority, while the inner harbour will be...
Lloyd's List to break new ground during London International Shipping Week The Lloyd's List Podcast, with support from Maritime London, will be broadcast daily during London International Shipping Week 2023, featuring a mix...
German utility plans blue hydrogen plant in Rotterdam Blue hydrogen plant to be built at Rotterdam's Maasvlakte by 2028 to produce up to 300,000 tonnes per year
Rising US imports to remain below pandemic highs Current slump has been more pronounced on the west coast, where dockworkers have been working without a contract since last...
Citic Leasing orders 10 large pulp carriers linked to Cosco Shipping Move comes as Chinese shipping lessors increase their exposure to compatriot owners, especially large state-owned companies
Euroseas takes first boxship in nine-ship newbuild programme New charter for older ship 'shows resilience' of containership market, says owner
Cosco container shipping expects 75% decline in quarterly net profit A shift of supply and demand fundamentals in container freight market has led to the weaker results
Chemical tanker boarded by pirates off Ivory Coast - report Incident in West African waters follows the hijacking of the Monjasa Reformer last month in Gulf of Guinea
China Merchants Group president steps down Replacement has yet to be named
Australia reports record LNG export earnings amid tight global market Strong result driven by record-high utilisation rates on Australia's west coast facilities amid high international LNG prices
Truckers entering US freight market keeping capacity abundant: DAT The number of for-hire trucking firms entering the US market is nearly as large as the number leaving on a monthly basis, which is helping to keep capacity loose despite the departures.
Cosco Shipping Q1 profit plunge bodes ill for ocean carrier earnings The first-quarter profit estimates came as Cosco Shipping announced plans for a general rate increase on all dry and reefer cargo to the US from Asia, the Indian subcontinent and the Middle East from May 15.
CPKC may spur growth in Mexican intermodal market: analyst Data shows there is significant room for growth in the Mexican intermodal market, something the joining of Canadian Pacific Railway and Kansas City Southern could help spur, writes analyst Larry Gross.
Trans-Pacific capacity fills as risk of GRIs hangs over shippers How successful ocean carriers are in securing general rate increases comes down to the health of so-called green shoots of demand and the effectiveness of increased blanking of capacity.
Diana fetches higher period rate for Norden ultramax bulker New York-listed Diana Shipping expects to make $6.5m off the charter, which will last at least a year
Capesize spot market recedes as Chinese steel prices fall and cyclone approaches Australia Cyclone could bring further downward pressure as it is expected to hit western Australia on Thursday and Friday
Scorpio Tankers wipes $147m more debt off books with six lease buyouts Shipowner also splashes $21.6m more on buying back its shares as balance sheet improves
Imperial nears debt elimination with early NBG loan repayment US-listed tanker and bulker owner pays back second bank loan within a week
BRS Group says Russian dark fleet is really a rainbow of grey Shipbroker describes a six-tier tanker market in decision to move away from 'shadow fleet' moniker
One platform to rule them all? Veson outlines one-stop-shop plans But the digital shipping leader also knows collaboration is vital
Veson Nautical takes giant stride forward with VesselsValue takeover US shipping data player follows up Oceanbolt and Q88 deals with move for Richard Rivlin's valuation platform
Greek shipowners switch focus to older panamax bulkers in S&P chase Brokers and analysts say strong interest remains in secondhand ships
Vopak could boost capacity of EET LNG terminal as it buys 50% stake Dutch group strikes deal to become partner in new import facility set up by Gasunie
Vopak scraps deal with MOL to buy half of world's biggest FSRU Dutch terminals group had agreed to acquire stake in 2021 for the unit's Hong Kong deployment
Cosco's container arm warns of massive profit downgrade Quarterly net profits drop by three-quarters as falling freight rates bite
Tanker shipowners get a boost as Clarksons tweaks asset valuations Analysts aiming for quicker and more accurate assessments of a company's worth
Hin Leong founder Lim Oon Kuin pleads not guilty as fraud trial begins Hin Leong Trading founder could be jailed for up to ten years if found guilty of cheating HSBC bank out of $111.7m
JERA and KOGAS to team up on LNG shipments Japanese and South Korean energy giants aiming to optimise shipping operations
Tanker strength to lead recovery in shipping stocks, Clarksons Securities says Share prices have fallen 2% across maritime sectors, but analysts believe equity remains attractive
India poised to invite bids for shipowner SCI after sell-off delays Officials say competing groups will be able to submit offers by the middle of May
Oman's Asyad named as charterer of first two Euroseas eco newbuilds Greek shipowner says it is continuing to monitor markets for deals for the remaining seven container ships under construction
Pirates hijack Singapore-owned product tanker in the Gulf of Guinea Incident comes less than a month after six seafarers were abducted from a Monjasa tanker sailing in the region
Ten years after: How Ridgebury Tankers turned a profit on 2013 acquisitions Bob Burke-led outfit is now down to just four tankers as sales initiative rolls onward
Development Bank of Japan to fund Fairfield chemical tanker Decarbonisation finance used for LNG dual-fuel newbuilding under construction in Japan
Switzerland's Advantage Tankers enters LR1 product tanker sector with $153m Nautical Bulk deal Trio of modern, eco product tankers will enter long-term charters with Trafigura
Sovcomflot tries again to swap Irish bonds as talks continue with regulators Sanctioned Russian owner attempting to exchange eurobonds for Russian notes as agent refuses to handle coupon payments
Pirates believed to have boarded Singapore-owned product tanker in the Gulf of Guinea Incident comes less than a month after six seafarers were abducted from a Monjasa tanker sailing in the region
China's Citic Financial Leasing orders 10 wood pulp carriers at Chengxi Shipyard Cosco Shipping Specialised Carriers behind order for the world's largest wood pulp ships
Stolt Tankers looks to graphene-based coatings in decarbonisation drive Chemical tanker giant to use new cutting-edge technology on 25 ships after successful trials
Pirates believed to have boarded yet another tanker in the Gulf of Guinea Incident comes less than a month after six seafarers were abducted from a Monjasa tanker sailing in the region
Microsoft partners new Hafnia-led digital venture studio collaboration in Singapore Tech giant joins Hafnia, Wilhelmsen, IMC Ventures and DNV to tap tech start-ups for sustainability solutions
Irish cargo airline ASL takes step toward heavy drone delivery ASL Aviation has several airlines that support express delivery companies and e-commerce retailers. It plans to serve them with drone delivery too.
US imports bounce back in March despite dwindling China cargo Although import volumes show signs of a nascent recovery, the inventory overhang remains daunting.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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