NTSB: Fatigue and complacency led to $10.6 million WSF "hard landing" The National Transportation Safety Board says that fatigue and complacency led to the Washington State Ferries (WSF) passenger and car ferry Cathlamet striking a mooring structure, or dolphin, at a Seattle ferry
OFAC slaps sanctions on two Russian oil price cap busters The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is imposing sanctions on two entities and identifying as blocked property two vessels involved in carrying Russian crude oil above
MABUX reports downward trend in global bunker prices The Marine Bunker Exchange (MABUX) global indices showed a decreasing tendency during Week 41. The 380 HSFO index fell by US$10.57, the VLSFO index dropped by US$7.75, while the most significant price decline was seen in the MGO index, which fell by US$34.89. "At the time of writing, a slight upward trend prevailed in the market amid the escalation of Arab-Israeli conflict," pointed out a MABUX o
Net Feasa announces security upgrade to its smart container tracking solution Net Feasa, a provider of Internet of Things (IoT) digital transformation solutions to the marine, aeronautical, and intermodal transportation businesses, recently announced a patent-pending security upgrade to its premier IoTPASSTM Smart Container Tracking solution. "IoTPASSTM now enables us to interpret container security and integrity infringements while containers are in transit wherever they ar
A Guide to Manufacturing Insurance for Business Owners Manufacturing can be highly complex, so business owners need lots of protection. One aspect of that protection is proper manufacturing insurance coverage. Legal compliance, asset protection, loss prevention, and risk management are just a few of the areas where business owners can benefit from insurance protection. Here, we explore types of insurance coverage to consider, why they may be necessar
10 KPIs & Metrics To Track For Efficient Warehousing Operations As someone responsible for managing warehousing operations, you know that efficiency is key. But how do you measure this? What tells you if your strategies for optimizing warehouse storage, order fulfillment, and cost control are actually working? The answer lies in closely monitoring several critical Key Performance Indicators (KPIs) and metrics. From inventory accuracy to order delivery speeds
Rhenus Group and Uzbekistan Railway to expand terminals in Uzbekistan The Rhenus Group aims to expand its operations in Uzbekistan by signing a memorandum of cooperation with Uzbekistan Railway to establish new joint ventures. In particular, the partners aim to jointly operate and expand combined terminals in Uzbekistan's Andijan and Samarkand. The agreement, which will see the partners work together more closely on developing existing transshipment facilities in U
Piracy and armed robbery in Asian waters set to surpass last year's figures The numbers for piracy and armed robbery in Asian waters for 2023 are already on par with the figures for the whole of last year. By the first week of October this year, some 83 incidents of piracy and armed robbery against ships in Asia occurred compared to 84 in the entire last year, data available with the information sharing centre of the Regional Cooperation Agreement on Combating Piracy and
CMA CGM rebrands newly acquired New York terminals French container shipping company CMA CGM has rebranded the two terminals in New York and New Jersey it acquired from Global Container Terminals (GCT) earlier in the year. CMA CGM unveiled the newly branded Port Liberty, the name for what used to be called GCT Bayonne and New York, at a launch party in Manhattan, New York. Port Liberty New York and Port Liberty Bayonne will be the new names of th
Maersk to install SpaceX's Starlink on its vessels Maersk is embarking on a collaboration with Starlink, the pioneering satellite internet constellation developed by SpaceX. Starlink will be installed on Maersk's more than 330 own operated container vessels, offering high-speed internet with speeds exceeding 200 Mbps. This is a huge improvement in terms of internet speed and latency and is expected to provide major benefits in terms of both crew
Maritime regulatory landscape hit by 2024 earthquake Container shipping in 2024 will undergo major changes as the laws governing the industry are set to be transformed in the first four months of the year, including the end of consortia and the introduction of carbon mitigation measures, both of which could cause uncertainty for carriers and shippers alike. The European Commission (EC) has announced this week that container shipping's much-conteste
Romanian-German-Estonian team to win Port of Constanta tender for PCS feasibility study Romanian IT company Critical Technologies SRL (consortium leader), German port consultancy HPC Hamburg Port Consulting GmbH and two Estonian maritime and shipping partners, E.N. Shipping Services OÜ and Saaresalu OÜ, have won an international tender for developing the specifications for design and implementation for the Port Community System (PCS) for the Port of Constanta in Romania. A PCS is a
4 Things to Consider When Choosing Your Food Delivery Partner Food delivery services have turned into an integral part of our regular routines. Whether it's a bustling working day, a comfortable night in, or any special event, enjoying an eatery quality dinner from the solace of our homes is a cutting-edge extravagance we love. Be that as it may, the key to unlocking a superb eating experience is making the right choice regarding your food delivery partner.
Decarbonisation journey pushes boxship orderbook to new high The container ship orderbook marches towards record highs constantly, as liner operators and tonnage providers keep targeting a reduced carbon footprint with vessels powered by alternative fuels, even as cargo demand heads south. Alphaliner's report said that in the first nine months of 2023 alone, 187 boxships were commissioned, mostly ordered by liner operators, and adding 1.75 million TEU of c
How AI is Revolutionizing eCommerce Delivery? The eCommerce industry continually evolves, looking for ways to streamline operations and improve consumer experiences. One of the most astounding innovations reshaping this sector is artificial intelligence (AI). AI is a game-changer that has completely transformed the way goods are delivered to the customer. It has introduced a new era of productivity and customer-centricity, from predicting cu
Israel-Hamas war: Impact on shipping and port operations, potential risks The conflict in Israel after attacks by Islamist group Hamas on towns close to Gaza has caused great concerns in the global community, while the impact on various sectors and industries remains to be seen. Trying to get a first overview of how the shipping industry has been affected until today, we do not see any significant challenges and difficulties, as the majority of shipping and port operat
Port of Greenock handles largest container ship in its history On 7 October, the Port of Greenock, located on the Firth of Clyde, which has been at the centre of Scotland's maritime sector since 1876, welcomed the 300m long MSC Magnum VII, which has a capacity of 6,750 TEUs. The 75,000-tonne container vessel arrived via Peel Ports Clydeport's sister facility at the Port of Liverpool, before departing for Bristol the following day. The stopover saw the Clydep
PSA International announces new CEO PSA International, a major worldwide port operator, announced that Tan Chong Meng will step down as Group CEO and Board Member on 1 March 2024. Ong Kim Pong, currently the regional CEO of Southeast Asia at PSA International, will take over as Group CEO and be appointed to the PSA International Board. In addition, Nelson Quek, managing director of PSA Singapore's Container Business Division, the w
Samskip to deploy zero-emission SeaShuttle vessels in new Rotterdam-Oslo Green Corridor The cities of Rotterdam and Oslo have signed a Memorandum of Understanding (MoU) to create a new Green Corridor for short-sea shipping in cooperation with Dutch shipping company Samskip, which will deploy next-generation zero-emission SeaShuttle vessels. With this new agreement, the two European ports will strengthen their ties and will commit to accelerating the green transition in short-sea shi
Relationship between container demand and global GDP: Sea-Intelligence Danish maritime data analysis firm tried to analyse the connection between the global gross domestic product (GDP) and global container demand. Prior to the pandemic, there was a rough rule of thumb that global container demand tended to grow approximately in line with global GDP, while, in decades past there used to even be a multiplier on top of this, according to Sea-Intelligence, but what is
OOCL introduces sixth eco-friendly 24,000+ TEU vessel Orient Overseas Container Line (OOCL) named a 24,188 TEU newbuilding at the Dalian COSCO KHI Ship Engineering (DACKS) shipyard. OOCL Gdynia is the name of this huge container ship. Following its naming, OOCL has received half of the company's twelve sustainable 24,000 TEU class series vessels ordered in 2020. OOCL stated it was honoured to have Takashi Yanai, corporate officer and general manager
Maersk signs up for Elon Musk's Starlink Danish shipping and logistics group Maersk is set to roll out Elon Musk's Starlink satellite internet technology across its fleet. The world's second-largest liner will see the service, developed by Musk's SpaceX, deployed on more than 330 ships by the end of the first quarter of 2024. The service, which enables high-speed internet with speeds ...
PSA names new chief executive PSA International is getting a new chief executive officer next year with the appointment of Ong Kim Pong. In line with succession plans, Ong currently the regional CEO of Southeast Asia, will step up and take over from Tan Chong Meng who will officially retire on March 1, 2024, after 12 years at the helm ...
Economou launches cash tender offer for Performance Shipping shares George Economou's pursuit of Performance Shipping continues. The Greek shipping magnate has launched a tender offer for all outstanding shares of common stock of the New York-listed tanker owner at $3 per share in cash. Andreas Michalopoulos-led Performance's US security exchange filing shows Economou with an 8.8% stake based on the company's 11.7m shares outstanding ...
Bumi Armada develops new FLNG concept Malaysian floater specialist Bumi Armada has received approval in principle from the American Bureau of Shipping (ABS) for a new floating liquified natural gas (FLNG) infrastructure solution. This new FLNG concept incorporates a newly built barge-based liquefaction unit and the utilisation of existing LNG carriers for storage. The company developed the barge-based liquefaction unit for ...
Struggling dark tanker limps towards Singapore The 106,547 dwt aframax tanker , part of the shadow fleet hauling Russian crude, has started moving after being "dead in the water" for two days. According to Bloomberg and satellite tracking data available to them, the tanker has started moving at a speed of 5 knots in the direction of Singapore. Before it started ...
Euronav exercises option for one more VLCC newbuild Belgian tanker owner Euronav has decided to add one more VLCC to its fleet by exercising a previously agreed option for an additional newbuild. The Brussels and New York-listed firm agreed to buy one ship back in August, with an option for another to be lifted in the next two months. The option has now ...
Rotterdam and Oslo launch green corridor A memorandum of understanding (MoU) has been signed by the city of Rotterdam and the city of Oslo to create a new green corridor for short sea shipping that will be served by Samskip's next generation green hydrogen-fuelled SeaShuttle box ships. Samskip CEO Kari-Pekka Laaksonen, said: "This signing brings us one step closer toward the ...
CMA CGM unveils new Port Liberty brand at Manhattan party CMA CGM has rebranded the two terminals it acquired from Global Container Terminals last year in New York and New Jersey. At a launch party last night in Manhattan with the mayor of New York in attendance the French liner unveiled the newly branded Port Liberty, the name for what used to be called GCT ...
Shipbuilding develops in East Africa East Africa is taking tentative steps to develop a shipbuilding industry. The Uhuru II, a $16m cargo ship that was locally constructed and assembled at state-run Kenya Shipyards in Kisumu, was commissioned by President William Ruto on Monday. The 100 m long ship, with a capacity of 1,800 tons, will ferry goods and oil across ...
Rising risks of cabin fever at sea Andrew Craig-Bennett warns on the lack of communal get-togethers on ships today. On a Facebook page, one that is maintained by quondam colleagues in a former employer's shipping company, I saw a picture of a modern ship's bar. I should say at once that this is not - at least not now - a tanker ...
MSC unit AGL enters Angolan port Africa Global Logistics (AGL), part of Mediterranean Shipping Co (MSC), has secured rights for the Lobito port container and conventional terminals in Angola following an international call for tenders launched in January. As part of the new concession, which will be effective in the first quarter of 2024, AGL will take over the staff of ...
Blumenthal swoops on Japanese kamsarmax German owner Johann MK Blumenthal has been linked to a kamsarmax bulk carrier purchase from Japan's Nissen Kaiun. The 82,900 dwt scrubber-fitted Lord Star, which brokers earlier this year placed in Greek hands, has now been reported to have been sold to the Hamburg-based company in a deal worth around $23.8m. The 2013 Sanoyas-built ship ...
Greek shipowners raise €50m for areas devastated by flooding Union of Greek Shipowners and government of Kyriakos Mitsotakis will liaise closely to ensure optimum use of funds
Retailers' stocks slow US imports US imports likely to remain below 2m teu for the following months and remainder of the year. Retailers have stocked...
VLCC rates surge amid heightened Middle East unrest The fraught situation in the Middle East might have led to charterers growing apprehensive about disruptions to regional transportation
Global oil demand growth set to slow to 900,000 barrels per day, says IEA IEA said that oil supply growth in 2024 will rise to 1.7m barrels per day but will be driven by...
US to sanction Türkiye- and Russia-owned tankers for oil price cap breaches Aframax tanker Yasa Golden Bosphorus and suezmax tanker SCF Primorye singled out by US Treasury Department's Office of Foreign Assets...
G7 crackdown on Russian oil shipping breaches begins Two sanctions-busting tankers, including one owned by Russian-controlled Sovcomflot, were named by the US Treasury Department as facing penalties for...
Economou launches hostile bid for Performance Shipping Performance share price leaps after tender offer of $3 per share
Big money legal spat between MSC and Conti demolishes assumptions on charterers' liability Industry may have misunderstood meaning of Limitation of Liability for Maritime Claims for decades
CMA CGM renames New York terminals New York harbour's famous statue was a gift from the French. CMA CGM is reappropriating the name for its New...
$1.6bn legal wrangle over Prestige payout 'on pathway to end', says London Club 'I'm not sure Spain will throw in the towel at this point, but it will be difficult to continue.... Twenty...
Euronav boosts VLCC orderbook during 'strange market' Newbuilding pricing of VLCCs does not reflect market demand, which is why so few owners are ordering this vessel size...
Equipment manufacturers look outside the box Record numbers of containers were delivered to carriers during the pandemic. But this year is set to be the slowest...
HD Hyundai invests €45m in green hydrogen tech firm Elcogen The investment aligns with HD Hyundai's 'Ocean Transformation' vision and 'Hydrogen Dream 2030' road map
PSA International names Ong Kim Pong its new CEO Current chief Tan Chong Meng will retire from next year, having steered the port giant for 12 years
Hapag-Lloyd more profitable per employee than any other EU company Rankings reveal just how exceptionally profitable the boxship sector was in post-pandemic return
Daily Briefing Fears of unintended consequences from removal of block exemption | 'Mama doesn't have the bosom to suckle from,' decries Greek...
US shippers told to make trucking bids more collaborative The bidding process needs to be "revolutionized" to save shippers money, with more emphasis on strategic relationships, speakers said at the NITL Engage Conference.
Deloitte taps asset-tracking provider Nexxiot for cargo risk management product Transportation sensor provider Nexxiot and Deloitte are aiming to connect cargo visibility data with the consulting firm's "know your customer" process to fast-track container movement.
Final-mile push drives growth in multistory warehouses in congested US cities A number of multistory warehouses are planned for urban areas around the US as developers say dependable, same-day delivery in congested cities outweighs the higher costs involved in constructing two- to five-story structures.
Ocean carriers survey changing market and ponder next course of action As the container shipping industry looks toward 2024, with historic pandemic-driven profits only a memory and expectations for a recovery fading fast, the question of how carriers will react is very much a topic of speculation.
Suezmax tanker earnings double in a day as rates ride aframax coat-tails Nigerian tax keeps some owners away from West Africa's biggest producer
Overseas Shipholding Group completing Alaska reunion with $50m investment New York-listed shipowner buying suezmax from BP to join three siblings
'Disappointing': US blacklists two tankers as one shipowner says it was wrongly targeted Sovcomflot and Yasa Shipping vessels accused of violating price cap on Russian oil trade
Fifteen MSC vessels detained for safety violations since 2022 US Coast Guard cited several ships for improper equipment upkeep
More than a dozen MSC vessels detained for safety violations since 2022 US Coast Guard cited several ships for improper equipment upkeep
Ultrabulk opens permanent office in Tokyo Bulker operator has long-standing business relationships in Japan
Global Marine sells out of shipowner CWind in deal with Inspirit Capital UK group to focus on subsea work
Ultrabulk opens permanent office in Japan in Tokyo Bulker operator has longstanding business relationships in Japan
CMA CGM plots $600m upgrade of two US East Coast terminals Former GCT terminals in New York and New Jersey are renamed
Italian media reveals staggering size of MSC's profit The lid is lifted on the finances of Gianluigi Aponte's business empire
You know the $2.35bn Frontline deal. Now, how about Frontline the stock? This week's Streetwise takes a look at how John Fredriksen's company is leading the shares race as well
Pangaea Logistics ice-class unit first bulker to win DNV 'silent' designation Dry bulk company derives a major portion of revenue from Arctic ice trade
Pacific Basin Shipping 'always looking at share buybacks' Asset values and freight rates have begun to look positive again as bulker owner-operator plans ahead
Italian media lets slip staggering size of MSC's profit The lid is lifted on the finances of Gianluigi Aponte's business empire
Maersk and Musk team up to provide Starlink internet to 330 container ships Danish group is latest to pick low-earth orbit satellite service for vessels
North Star brings in shipping academic Tamara Topic as first sustainability manager Research specialist will lead offshore company's ESG drive
CMB.Tech ready to go with shipping's first dual-fuel hydrogen generator and engine Damen Shipyards will install pioneering genset on Windcat CSOV
Oil markets on tenterhooks over Middle East crisis, says IEA Russia oil revenue hits highest levels since July 2022 amid rising prices and exports
George Economou launches offer to buy Performance Shipping and remove board Greek shipowner entered into war of words with management after taking stake in August
Anthony Veder sets 'ambitious' 2035 net zero target Gas-focused shipowner sets out pathway to slash its emissions
Germany's Neu to fit entire bulker fleet with Yara propulsion optimisation kits Six VLOCs and two newcastlemaxes to be retrofitted next year
'Let's shout about what we're doing', says gas body SGMF as it turns 10 Members vote for Society for Gas as a Marine Fuel to put its efforts into ammonia
Rise in 'dark' tanker activity in Baltic Sea as price cap breached Maritime intelligence company Windward says it has charted a spike in events as the price of oil has surged
Comment: Hamas' threat to shipping and the rise of state-backed attacks Researchers warn of the ramifications that stem from the surprise attack on Israel
KCC pushes up Cabu earnings, but Cleanbu rates drop on weaker tanker markets Combination carrier group presents a mixed picture in third-quarter trading update
24 out, one in: Euronav buys second VLCC newbuilding in China from CMB Belgian group moves to expand the fleet again after agreeing huge sale to Frontline
Klaveness Digital's Aleksander Stensby says shipping will still need people AI has made the biggest leap forward in tech boss' lifetime, but the human touch remains vital
Asian and Middle East owners target African growth with new service Containerised imports into Africa in the first half of this year have grown more than 10% since 2019
US pulls trigger on Russian sanctions, blacklists 2 crude tankers
The volume of Russian crude exports is growing and the price is rising, spurring the U.S. and its partners to begin sanctions enforcement.
Delta Air Lines cargo revenue drops 36% on slow freight demand Delta Air Lines cargo revenue fell by more than a third in the third quarter, reflecting weak market conditions.
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