VIDEO: MOL invests in next-gen offshore wind start-up TouchWind As we've seen from recent disappointing offshore wind sales in the U.S. Gulf and then in the U.K., energy companies are becoming wary of the investment involved in getting into floating offshore
Hawaii Dolphin takes delivery of new tour boat from All American Marine Hawaii Dolphin Tours' newest snorkel and tour boat, Poseidon, has started operations in Oahu, following delivery by Bellingham, Wash., based All American Marine (AAM). The highly customized 50 x 17 foot vessel
Concordia Damen to build 5,400 bhp Paraguay River push boat Damen Shipyards Group's specialist inland waterways yard, Concordia Damen in Werkendam, Netherlands, has won a contract to build a 5,400 bhp CDS4115 shallow draft river push boat for Paraguayan shipowner and operator
ONE launches direct corridor from East Asia to Indonesia Singaporean container line Ocean Network Express (ONE) has announced a new weekly service, Korea China Indonesia Service (KCI). ONE said KCI will have a 28-day round voyage and is expected to offer new direct connections from East Asia to Indonesia, while providing a reliable and quality assured transport service as well as schedule integrity. The port rotation of the new service will be Busan (S
Port of Long Beach achieves clean air goals ahead of schedule According to recent research, air pollution emissions at the Port of Long Beach reduced in 2022 in all categories, confirming that the Californian port had accomplished all of the targets of the San Pedro Bay Ports Clean Air Action Plan a year ahead of schedule. According to the Port's annual emissions inventory report, which was given to the Long Beach Board of Harbor Commissioners, diesel parti
DHL opens new distribution center in US DHL eCommerce, a division of DHL Group, opened a fully-owned 28,520 m² distribution center in Hebron, Kentucky, 10 minutes from the Cincinnati/Northern Kentucky International Airport (CVG). The company decided to combine three properties it leased in a business park in the CVG area into this larger, US$74 million distribution center that will employ approximately 400 full and part-time employees.
Global Ports invests in new container handling equipment Global Ports will equip its Far Eastern terminal Vostochnaya Stevedoring Company (VSC) with two new ship-to-shore cranes. On 12 September, Global Ports signed a memorandum of intent with Shanghai Zhenhua Heavy Industry Company (ZPMC) to buy portside container handling equipment. The cranes, which are expected to arrive by the end of 2024, will enhance the Far Eastern terminal's equipment fleet an
Vessel queues in storm-hit areas fail to stem freight slide Extreme weather, particularly typhoons and hurricanes in North Asia and the United States, resulted in congestion building up in major ports. Linerlytica's report today stated that vessel queues went up in the week that ended on 10 September. North Asia, particularly, had been battered by heavy rain amid the typhoon season, with Super Typhoon Saola, Typhoon Khanun and Typhoon Haikui hitting China
Global Transport Solutions acquires Ship Spares Logistics Global Transport Solutions (GTS), a logistics service provider focusing on supply chain solutions for the maritime industry (via the brand Marinetrans), has acquired Ship Spares Logistics (SSL), a marine logistics specialist offering barge deliveries, warehouse consolidation, and freight forwarding services. The merging of the two companies will improve service offerings in maritime spare parts l
Nokia establishes private wireless network at Tacoma's Husky Terminal Nokia has deployed a private wireless network for Husky Terminal and Stevedoring, which is a terminal operator and stevedoring company based at the Port of Tacoma in the United States. In particular, Nokia deployed the private 4.9G/LTE wireless network to support Husky Terminal's upgrade to a cloud-based terminal operating system (TOS). Through this system, the company can manage and coordinate t
AD Ports signs agreement to enhance safety of Abu Dhabi's waterways Abu Dhabi Maritime, part of AD Ports Group, has announced a 62% reduction in marine incidents in the first half of 2023 compared to the same period in 2021. More specifically, following an agreement between AD Ports Group and the Department of Municipalities and Transport (DMT) in 2020, Abu Dhabi Maritime was established to govern the development of Abu Dhabi's maritime sector. One of Abu Dhabi M
Record year for APM Terminals' Crane Engineering Services The first batch of new ZPMC Super-Post Panamax ship-to-shore (STS) cranes arrived at APM Terminals Elizabeth earlier in September. Handled by APM Terminals' Crane Engineering Service, they have a 23-container outreach and can efficiently work multiple ultra large container vessels (ULCVs) and Neo-Panamax Vessels simultaneously. According to APM Terminals, two of eventual sextuplets (the other fou
Hapag Lloyd upgrades West Africa service In May, Hapag-Loyd established West Africa Service 1 (WA1) with new port calls in Guinea, Sierra Leone, and Liberia. From 4 September, the German carrier has announced the change of its service frequency to weekly calls. Additionally, Hapag-Lloyd will introduce two more ports of call, while it will deploy two additional vessels on the rotation. "We are excited to introduce Banjul, Gambia and San
Port of Rotterdam launches remote-controlled drone project The Harbour Master Division of the Port of Rotterdam Authority has been experimenting with a fast long-distance drone, which may help with a variety of activities, including inspections and supervision. The Dutch port has now gained authorisation for the first time to test the drone, which is managed from the Command & Control Centre in the Harbour Coordination Centre of the Harbour Master Divisi
Maersk and Fabric open AI-driven automated fulfillment center in Dallas Maersk and Fabric have joined forces for a new 3,500m² automated-fulfillment center in Dallas, Texas, powered by Fabric's advanced robotic and software technology. The two companies expect the final preparations to be completed soon, as the site is scheduled to be fully operational this fall in support of an online B2C retailer. According to the announcement, the new facility features an artifici
Fire not the only danger with lithium-ion batteries: TT Club TT Club, the specialist international freight insurance provider, is seeking greater emphasis on the critical dangers of toxic gas emissions associated with lithium-ion battery fires. The failure of such batteries has the potential to occur with no prior warning, or with such speed that there is typically no time to react to any warning signs. Devastating consequences of rapidly spreading, and of
Metrans expands climate-friendly product HHLA Pure The rail subsidiary of HHLA, Metrans is extending the HHLA Pure network across Europe, providing additional certified climate-neutral connections to its clients. HHLA and Metrans offer the product HHLA Pure both climate-neutral processing and transport of their products and goods from the terminal facilities in the Port of Hamburg to the European hinterland. Metrans will incorporate the seaports
CMA CGM applies new PSS from Indian Subcontinent, Middle East Gulf, Red Sea, Egypt to US East Coast and US Gulf CMA CGM has announced new peak season surcharge (PSS) from the Indian Subcontinent, Middle East Gulf, Red Sea and Egypt to the US East Coast & US Gulf that will be effective on 7 October 2023 (gate-in date). The French carrier will apply a US$350 per 20', US$350 per 40', US$550 per 45' container surcharge for all container types. The post appeared first on Container News .
Chinese liner adding up to 10 boxships on Northern Sea Route next year Chinese shipping company NewNew Shipping Line will add an additional eight to ten containerships on the Northern Sea Route (NSR) line in 2024. According to Russian media, NewNew Shipping Line's representative Ke Jin revealed this at the Eastern Economic Forum being held in Vladivostok, Russia. Jin also stated that ten more voyages would be made ...
VLGC rates hit all-time highs Very large gas carriers (VLGC) market circumstances remain outstanding, with spot rates claiming new records on two key trade routes. Price differences between US propane and its Asian and European counterparts reached a six-month high earlier this month, with Jefferies analysts noting spot rates for VLGCs at levels not seen this year. The trend continued ...
EuroDry adds Marine Capital's bulker trio to its fleet Greek dry bulk owner EuroDry has agreed to acquire three ultramax bulkers from UK-based marine asset manager firm Marine Capital. EuroDry said that it bought the 63,197 dwt Giants Causeway and the 63,153 dwt Sadlers Wells, both built in 2015, as well as the 63,177 dwt, 2014-built Gallileo for a total price of about $65m. ...
India lifting cabotage laws to help coastal shipping India is planning to completely remove its cabotage laws which will allow foreign registered and flagged ships to work along its coast without obtaining a permit from the country's Directorate General of Shipping. This is seen as a massive move by the Narendra Modi-led government as the only ships currently allowed to work on local ...
SeaBird wins more survey work Marine seismic specialist SeaBird Exploration has penned a letter of award with an unnamed repeat client for a 2D survey in the Eastern Hemisphere and secured a contract extension for one of its vessels. The Oslo-listed company said the new contract will kick off in the fourth quarter of 2024 pending customary permitting and prefunding ...
Trajectory of soaring newbuild prices divides opinion The trajectory of newbuild prices which have soared up by as much as 50% in less than three years is dividing experts with owners facing tricky decisions on when to kickstart fleet renewal programmes ahead of stricter 2030 green targets for shipping agreed at the International Maritime Organization this July. ABS has this week joined ...
VLCC sales proliferate Demand for VLCCs in Asia has surged with sales talk surrounding a string of tankers between 10 and 15 years of age. The increased activity is good news for VLCC owners, who can finally see the light as rates appear to have flattened out with news this week of punchy three- and five-year tanker charters ...
Greek minister resigns over ferry death Greece's shipping minister resigned yesterday over the death of a man who was pushed off a ferry ramp by a crewmember after arriving late, in an incident captured on video that has made headlines around the world. "No one can imagine that Greek sailors, violating the age-old rules for the protection of human life at ...
UK intelligence claims Russia is actively targeting international merchant ships Insurers baulking at covering ships heading near Ukraine will have been given further pause for thought yesterday with UK intelligence claiming the Russian military targeted a cargo ship berthed at Odesa port. Multiple missiles fired at the unnamed Liberian-flagged vessel were successfully shot down by Ukraine's forces on August 24, according to the UK foreign ...
Enlarged VentoFoils primed for deepsea operations The year 2023 is shaping up as the year wind propulsion manufacturers go global with their ambitions. The latest expansion news within the wind-assist ship propulsion sector comes from the Netherlands where two regional government bodies have provided financial support to Econowind so that it can upscale the size of its VentoFoils (pictured). VentoFoils to ...
Okeanis Eco Tankers agrees $84m debt refinancing loan Greek owner Okeanis Eco Tankers has secured a new $84m senior secured credit facility from Crédit Agricole to refinance existing debt at improved terms. The facility is expected to be drawn in two tranches within September 2023. The proceeds will be used to refinance existing debt under the suezmax vessels Nissos Sikinos and Nissos Sifnos. ...
MOL to spend $400m buying Fairfield Chemical Carriers Japan's Mitsui OSK Lines (MOL) is spending $400m in an all-cash transaction to acquire the 36-strong fleet of New York-headquartered Fairfield Chemical Carriers (FCC), a subsidiary of Fairfield-Maxwell Ltd. MOL, Japan's largest shipowner by dwt, said today it sees the chemical tanker business as a sector with strong growth prospects with plans to proactively invest ...
Golden Energy Offshore raising $30m to fund Vroon quintet buy Norway's Golden Energy Offshore Services (GEOS) is looking to raise up to $30m of new capital to fully fund the acquisition of five vessels it bought from Vroon. In early August, GEOS struck a deal to buy five ships from Vroon for $94m. The deal includes four unnamed PSVs and one the VOS Sugar SSV, ...
Seacor Marine loans $122m to refinance existing debt US offshore vessel operator Seacor Marine has entered into a new $122m senior secured term loan with affiliates of EnTrust Global. Seacor Marine said that the new loan provided the company with a more efficient and consolidated capital structure. The proceeds from the credit facility will be used, among other things, to refinance $104.6m of ...
Ship Spares Logistics and Global Transport Solutions join forces Global Transport Solutions (GTS), a logistics service provider specialised in supply chain solutions for the maritime industry through the brand Marinetrans, has acquired Ship Spares Logistics (SSL) from Burando Maritime Services creating a Dutch marine logistics powerhouse. "With a shared vision and complementing strengths, this collaboration with SSL is a natural progression. Together, we are ...
EuroDry buys three out of four Marine Capital ultramaxes Among reasons given for the acquisitions, Greek owner cites low bulker orderbook and that vessels are sisters of an existing...
Exploring oceans more important than space research, National Oceanography Centre argues 'Most people see the ocean as this big thing that nothing happens underneath,' laments NOC director Gullick
Wind tech developer prepares for higher demand after EU investment Bound4blue will install a pioneering suction sail on a chemical tanker for Norwegian owner Odfjell
'Ridiculous amount' of US ETF money increases dual listings' appeal Deep-pocketed US capital markets and 'ridiculous' amount of money in US ETFs over the last year supports the case for...
No sign of boxship charter market crash as rates remain stable Feeder tonnage in Asia continues to be over-supplied due to deliveries of newbuildings from Chinese shipyards
Dry bulk owners look to better days ahead, but will not order new ships Bulk carrier owners are willing to look past short-term pain from slumping Chinese demand, Capital Link was told, but are...
Cexim underlines 'reliability' as it targets increased lending to Greeks World's second-largest ship finance lender brings message of steadfastness that appeals to owners who have fresh memories of abrupt withdrawals...
Dark fleet shipping sanctioned oil expands to 530 tankers after oil price cap breach Global oil price gains have pushed prices for all Russian crude grades and diesel over thresholds of $60 per barrel...
Emerging bipolar political order will not lead to bipolar trade The market the operates against EU and G7 policy has grown, and it will continue to be served by those...
Silverstream upbeat on product rollout for both newbuildings and retrofits Chief executive Noah Silberschmidt sees potential in the retrofit segment, while also actively pursuing orders on LNG carrier newbuildings
Grieg Maritime doubles order for advanced forest products carrier newbuildings Newbuilding contract for new generation of ammonia-ready forest products carriers has been increased to four firm vessels. At the same...
IMO 2030 targets 'very unrealistic' says DNV Maritime boss DNV Maritime chief executive says it is 'very unrealistic' that shipping will meet the IMO's green targets for 2030 despite...
Yilport eyes more ports in push to become top 10 terminal operator Robert Yüksel Yildirim eyes further expansion into Africa and the Americas, as Yilport tries to become one of the world's...
Shanghai ready to offer green methanol bunkering service in 2024 LNG bunkering operations have been carried out in Shanghai port since 2022
MOL Chemical Tankers to acquire Fairfield Chemical Carriers MOL unit will obtain 100% of the shares in Fairfield and its subsidiaries in Japan, the Netherlands, South Africa and...
Daily Briefing Sanctions are 'designed' to complicate, says geopolitical risk adviser | Varvitsiotis stands down in wake of ferry passenger death |...
Bed Bath & Beyond files FMC complaint against Yang Ming in capacity dispute The new allegation against Yang Ming comes less than a week after the carrier settled a dispute with another US importer, also over allegations it failed to honor vessel capacity commitments.
Greek operator Neptune orders two 4,200-unit car carriers in fleet expansion move The Greek carrier's dual-fuel newbuildings will be the first in a series of vessels to be delivered over the next decade.
Yang Ming settles with importer in dispute over capacity commitments The carrier has settled a second case with the Federal Maritime Commission involving contracted vessel space, this time over allegations it refused an importer's cargo in the second half of 2021.
Rapid rail transit via sanctions-hit Russia has limited appeal for European shippers Sanctions imposed on Moscow following its invasion of Ukraine continue to limit the attractiveness of transport times as low as 12 days offered by forwarders on the China-North Europe rail network.
Flexport lost touch with customers under brief Clark reign: Petersen Flexport founder and CEO Ryan Petersen refused to pin the blame for the company's abrupt change in leadership on waning freight demand, saying the forwarder "has been through worse macro environments."
Middle East oil squeeze tightens high-sulphur fuel oil and fuel price spread, analyst says Average global price per tonne for very low-sulphur fuel oil has fallen 40% since June 2022, according to market data
Upcoming Golden Week weakens transpacific container rates, analyst says Panama Canal delays are not having much impact on them, Jefferies analyst Omar Nokta notes
Women seafarers battle male-dominated culture onboard vessels All female panel line-up talks future fuels, ports, digital skills and how they came into shipping at Lloyd's Register report launch
EuroDry acquires three out of Marine Capital's four ultramaxes Aristides Pittas-led firm makes good on recent expansion promises
Lender BPS refinances Fratelli Cosulich loan after Japanese bulker buy Italian bank was advised by law firm WFW on latest transaction
Swedish Club looks to London as it eyes growth Mutual insurer wants to take advantage of capital's talent pool
Himalaya burning cash on bulker rates despite beating the Baltic Fleet average for August comes in below break-even
ESG and T? WFW's Richard Stephens warns the tax net is closing on shipping London legal expert wonders how long the sector can go under the radar
Seatrade adding to container ship tally in China with Bangkokmax brace Reefer specialist exercises options to take orders to six ships
Maersk linked to second green bond for $750m in US dollar first Danish shipping giant can spend the cash on clean shipping projects
Eimskip denies oil leak from feeder ship off Iceland Pollution was suspected after thin slick found off the coast
George Economou accuses Performance Shipping of 'governance violations' as blistering war of words breaks out New York-listed Performance denies wrongdoing and says Greek magnate took 9.5% stake last month in 'attempt to buy a claim'
EuroDry linked to purchase of Marine Capital's ultramax quartet Aristides Pittas-led firm has recently given strong signals that it was about to expand
Tsakos Shipping's Andreas Bisbas claims Lloyd's of London insurance is 'no longer sacrosanct' Insurance head reveals hull cover was pulled at the outbreak of war in breach of contract
MOL snaps up Fairfield Chemical Carriers for $400m The deal will create a combined fleet of 121 chemical tankers
Bibby Marine clinches UK cash for world's first electric SOV UK shipowner working with Shell and Kongsberg on trailblazing wind farm ship
Methanol retrofits will cause paradigm shift from spot to term charters, broker says Investment in green fuel means owners need security of period deals, Hanse's Alex Karydis argues
Landkreditt's Lars Kirkeby leads record field in shipping's latest fantasy league New season kicks off with Nordea's Erik Havnvik and Okeanis' Irakilis Sbarounis in hot pursuit
Greeks in the frame as Uni-Tankers sells product carrier after renewing fleet CEO Per Ekmann confirms deal to offload a 2005-built clean carrier
Poseidon Principles banks set to agree tougher lending targets this month Shipping finance will reduce in next five years, Societe Generale maritime chief says
Iceland investigates alleged oil leak from Eimskip feeder ship Pollution suspected after thin slick found off the coast
Seacor stretches debt runway by tapping EnTrust Global US offshore vessel owner says financial structure will now be more efficient
Call for shipping to hone its forecasting skills to cut through uncertainty Lloyd's Register and Lloyd's Register Foundation unveil findings of commissioned report Global Maritime Trends 2050
Private equity firm leads $550m fundraiser at Virgin Voyages Cruise line has also delayed delivery of its fourth ship due to construction and supply chain challenges
Grieg Maritime Group exercises options for open-hatch bulker newbuildings Norwegian shipowner takes order at China's CSSC Huangpu Wenchong Longxue to four worth $200m
Russian missiles targeted cargo ship last month, UK claims Government reinterprets thwarted port strikes that took place on 24 August to say they were meant to hit a vessel
Vladimir Putin visits Zvezda for naming of Sovcomflot's first Russian-built LNG carrier Ice-breaking aframax was also named in joint ceremony for ships destined to ply waters of Northern Sea Route
Panama Canal Authority: Vessel transits may be reduced if drought persists The Panama Canal Authority on Tuesday suspended bookings for super vessels through Sept. 30 in its latest measure to remove a backlog waiting to traverse the canal.
Flexport founder says ousted CEO lost customer focus, spending discipline Flexport CEO Ryan Petersen says he has returned to rescue the company after Dave Clark wore out his welcome.
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