ACBL orders innovative Tier 4 towboat American Commercial Barge Line (ACBL) has signed a contract with Bayou La Batre, Ala., shipyard Steiner Construction Company for the design and construction of an innovative, environmentally friendly retractable-pilothouse towboat. It will
California's Angel Island ferry to be converted to all-electric Pacific Gas and Electric Company (PG&E) is partnering with the Angel Island-Tiburon Ferry Company (Angel Island Ferry) to support the electrification of its 400-passenger, 1975-built ferry vessel Angel Island which plans to
Massachusetts SouthCoast Wind project moves another step forward The Bureau of Ocean Energy Management (BOEM) has announced the availability of its draft Environmental Impact Statement (EIS) for the proposed SouthCoast Wind energy project offshore Massachusetts. Up until a name change
Italian Navy SDO-SuRS submarine rescue ship will feature Kongsberg propulsion solution A new SDO-SuRS (Special and Diving Operations - Submarine Rescue Ship) to be built by the Italian shipyard T.Mariotti for the Italian Navy will feature a suite of Kongsberg solutions that includes
TVA puts towboat up for online auction The Tennessee Valley Authority (TVA) is auctioning off its 1985-built towboat Freedom on the govdeals.com online auction site. Built by Patti Industries Inc., the vessel has an overall length of 100 feet,
Maersk supports Turkey earthquake victims Maersk has donated 1,000 containers to Türkiye in order to aid and support the victims of the earthquake that struck Türkiye and Syria on 6 February . Maersk said it was in constant communication with Türkiye's State Disaster and Emergency Management Authority (AFAD). The company also noted that the first containers are already being converted into container houses that will be ready to be deploy
HMM and Sinokor sign up to nuclear power HMM, Sinokor Merchant Marine, Wooyang Shipping and H-Line Shipping are exploring the development of nuclear-powered ships. On 9 February, the four South Korean shipping companies signed an agreement with Gyeongju City's municipal authorities, Korea Research Institute of Ships & Ocean Engineering, Korea Atomic Energy Research Institute and the Korean Register of Shipping to create small nuclear re
Maersk sues Evergreen and Shoei Kisen over Suez Canal blockage A.P. Moller-Maersk confirmed that it has filed a lawsuit against Japan's Shoei Kisen, the owner of Ever Given, and Evergreen, the operator of the container vessel, which caused serious global supply chain difficulties, blocking the Suez Canal for around a week in 2021. "We can confirm that Maersk has filed a claim against Evergreen, the ship's owner and the vessel's technical manager at the Danis
Gebrüder Weiss opens new facility in Albania Gebrüder Weiss inaugurated a new facility in Tirana, Albania, on 6 February reducing the geographical gap between Montenegro and North Macedonia and allowing the worldwide transport and logistics firm to strengthen its transport links in South-Eastern Europe. Gebrüder Weiss has offices in Albania, Bosnia-Herzegovina, Montenegro, North Macedonia, and Serbia. Following the Covid-19 pandemic, Albani
Nhava Sheva truckers voice concerns over box scanning delays Container trailer operators serving India's Nhava Sheva Port (JNPT) are reporting long truck waits and congestion problems at the terminal entry points due to box scanning delays. According to Nhava Sheva Container Operators' Welfare Association (NSCOWA), which represents truck owners handling local cargo movements, in addition to congestion around drive-through scanning centres, scanning facilit
Mawani, Bahri add new service linking Europe with Asia The Saudi Ports Authority (Mawani) and Saudi shipping firm Bahri have announced the introduction of a new freight service connecting Europe and Asia via Jeddah Islamic Port. Vessels on the new service will sail from the ports of Bremerhaven (Germany), Antwerp (Belgium), and Montoir (France) in Europe to Jeddah in Saudi Arabia and then to the Indian port of Ennore, and the Chinese ports of Taicang
OOCL boosts annual revenues amid box volume decline Orient Overseas Container Line (OOCL) reported reduced container volumes for 2022. COSCO-owned ocean carrier handled 7,129,358 TEUs, down 6% compared with the previous year. On the other hand, OOCL's total revenues increased significantly by 19.1% to over 18.6 billion in 2022. "Average revenue per TEU increased by 26.7% compared to the same period last year," noted OOCL in its statement, while th
Port of Long Beach kicks off new year with container drop Port of Long Beach saw reduced box traffic in January with its dockworkers and terminal operators moving 573,772 TEUs in the first month of the year, significantly down 28.4% from January 2022, which was the port's busiest January on record. Long Beach's imports decreased by 32.3% to 263,394 TEUs and exports fell 14.2% to 105,623 TEUs. At the same time, empty containers moving through the port we
Two container vessels suffer severe damage after collision in Vietnam Two container vessels collided on the Long Tau river in southern Vietnam on 11 February. The two ships and many containers were severely damaged. The 2,038 TEU Wan Hai 288 and the 920 TEU Resurgence are the two involved vessels. A number of boxes from the first ship were destroyed as the port bow of the vessel was hit by Resurgence, whose bow was crunched in the incident. According to reports, Wa
HMM achieves annual profits of over US$7 billion South Korean container shipping company HMM saw its revenue rose 34.7% to US$14.57 billion in 2022, while its operating profit increased by 34.8% to US$7.8 billion. The net profit of the ocean carrier came to US$7.89 billion, up from US$4.18 billion a year earlier with the operating margin reaching 53.5%, remaining at the same level as last year. "The freight rates in most key trade lanes have be
Ocean Infinity awarded Scottish floating wind site survey contract Marine survey specialist Ocean Infinity has been selected by Floating Energy Allyance (FEA) to carry out an initial geophysical and geotechnical site investigation at Buchan offshore wind project in Scotland. FEA a partnership including Germany's BayWa r.e., Belgium's Elicio, and floating wind technology developer BW Ideol is developing a 1GW floating offshore wind farm 75 ...
Borr Drilling secures $70m worth of new deals Norwegian jackup rig owner Borr Drilling has secured a new contract and two extensions for its fleet, increasing the company's firm backlog by around $70.2m or approximately 625 days, excluding options. The 2013-built jackup Ran has been booked by Fieldwood Energy for work in Mexico. The contract will cover a two-well campaign worth $7.5m excluding ...
Solstad bags $82m in vessel contracts Norwegian OSV owner and operator Solstad Offshore has won several new contracts and contract extensions for its anchor handling tug supply (AHTS) and platform supply vessels (PSVs). The contracts will be executed by 14 Solstad ships, supporting various clients in the global markets, and have a value of approximately NOK830m ($82m). The Oslo-listed firm did ...
Maersk files claim against Evergreen and Shoei Kisen over Ever Given grounding Denmark's A.P. Moller-Maersk has filed a lawsuit against the owner and operator of the containership , which blocked the Suez Canal for six days in 2021, seeking compensation for delays caused by the incident. "We can confirm that Maersk has filed a claim against Evergreen, the ship's owner and the vessel's technical manager at the ...
Global liners enter familiar price war territory Liner shipping has entered a price war, a race to the bottom that has characterised almost every cycle of this shipping sector for the last 50 years. Analysts at Sea-Intelligence have suggested that the decision by the big global container carriers to not reduce capacity in line with the dropping demand registered over the past ...
Golden Ocean pounces for six newcastlemaxes to become the world's largest publicly-listed dry bulk company John Fredriksen-controlled Golden Ocean is set to become the largest listed dry bulk company in the world when it completes the acquisition of six newcastlemaxes in a deal announced today. Golden Ocean has moved to acquire six scrubber-fitted 208,000 dwt ships in a $291m deal with H-Line Shipping from South Korea. The newly-acquired vessels will ...
Boluda bolsters towage business with Smit Lamnalco acquisition Spain's Boluda Corporación Marítima has struck a deal to acquire the world's fifth-largest towage operator, Smit Lamnalco, a joint venture between the Dutch Boskalis Group and Saudi Arabia's Rezayat Group. The acquisition, for an undisclosed price tag, will add around 111 vessels to Boluda Towage's division and enable the company to strengthen its foothold in ...
Wah Kwong exits handy sector Hong Kong's Wah Kwong has exited the handy sector. Brokers tell Splash that the outfit has decided to sell one of its older ships, the 34,000 dwt, Chengxi-built , for just under $13m, a ship that has been with Wah Kwong since it hit the slipway in 2012. Wah Kwong tends to trade its ships ...
Two boxships badly damaged in southern Vietnam Two containerships were severely damaged early Saturday morning when they collided on the Long Tau river in southern Vietnam. The 2021-built, 2,038 teu Wan Hai 288 came off worse in the incident with many containers also hit hard as the port bow of the vessel felt the full impact of the SITC-operated, 920 teu Resurgence. ...
Acta Marine secures SOV contract in German North Sea Dutch offshore vessel owner Acta Marine has emerged as the winner of a tender to provide a service operations vessel (SOV) for the Vattenfall-operated DanTysk and Sandbank offshore wind farms in the German North Sea. The contract, awarded by DanTysk Sandbank Offshore Wind, a 51/49 joint venture between Vattenfall and Stadtwerke München, will see a ...
Chatbot technology and shipping Digitalisation expert Mike Konstantinidis gives readers insight into what the debut of ChatGPT and its ilk means for our industry. Recent announcements regarding a now famous AI app called ChatGPT, soon to be made available for access by anyone, created huge publicity yet confusion. Personally, I couldn't agree more that this is big news, even ...
ILWU Canada wants government to reject Port of Vancouver Roberts Bank Terminal 2 project On January 23, Canada's minister of environment and climate change Steven Guilbeault informed the Vancouver Fraser Port Authority (VFPA) that information it had provided satisfied a request for details regarding potential effects of the proposed Roberts Bank Terminal 2 project on fish and fish habitat, salinity and Indigenous people. The VFPA said in a press release that ...
Shipping companies agree to pay $45m over California oil spill Pipeline rupture off the port of Long Beach believed to have spilled 25,000 gallons of oil
Uncertainty driving 'extended and painful' P&I renewal round 'If we don't have unanticipated large, possibly global events, we may see some stabilisation. Clubs will look for maybe 5%...
Euronav seeks compromise board changes ahead of vote Euronav rejects Saverys plan to oust current board at March 23 shareholder vote, but recommends two board positions each for...
EuroDry says 'historically low orderbook' is source of optimism A post-Covid return to normality in China and an end to the war in Ukraine would both help demand for...
Bosporus traffic suspended due to towing of bulk carrier It is normal for the Bosporus Strait to be closed for a short period of time when a large vessel...
The week in newbuildings: More boxship orders on the way Yang Ming is close to signing up for a first tranche of gas-fuelled boxships. Elsewhere, HMM is being connected to...
Vessels line up at Freeport LNG's anchorage Second-largest LNG export plant in the US was shut down after an explosion and fire last June
The week in newbuildings: More boxship orders on the way Yang Ming is close to signing up for a first tranche of gas-fuelled boxships. Elsewhere, HMM is being connected to...
Vessels line up at Freeport LNG's anchorage Second-largest LNG export plant in the US was shut down after an explosion and fire last June
Box lines face price war as capacity remains high The Shanghai Containerised Freight Index last week fell below 1,000 points for the first time since June 2020
Chinese leasing: Beijing should let the corruption scar heal There are still opportunities for Chinse ship lessors to regain the ground lost, as long as economic benefits move back...
Golden Ocean buys six newcastlemaxes for $291m The John Fredriksen dry bulk unit currently has 83 vessels on the water with 10 newbuildings waiting to be delivered
BP Azerbaijan restarts crude oil loadings at Turkish port BP Azerbaijan restarted crude oil loadings at the Turkish port of Ceyhan after declaring force majeure last week because of...
Precious Shipping eyes positive outlook for dry bulk market Thai dry bulker owner made a record high net profit in 2022 amid a fluctuating dry bulk freight market. The...
MSC sends 1986-built boxship for recycling in India MSC joins other major operators, including Evergreen and Wan Hai Lines, in recent sales of elderly containerships for demolition
HMM sees sharp fall in quarterly earnings South Korean carrier's earnings across 2022 were up on the back of strong rates. But the final quarter shows the...
The week in charts: Russia's grain plundering fleet's voyage patterns | China container throughput volume inflated | Machinery damage dominates incident reports The Saudi-led coalition ramped up seizures of vessels destined for Houthi-controlled ports after the expiration of a UN-backed ceasefire, a...
PSA Marine harbour pilot dies after falling overboard in Singapore The pilot fell overboard while disembarking from a tug
Daily Briefing Fredriksen bids for Euronav seats as Saverys seek board 'serenity' | Port operator denies structural damage at Turkey's Iskenderun |...
OOCL feels impact of weaker market Transatlantic routes managed to buck the trend, with volume and revenue growth of 8.2% and 27.6%, respectively
HMM joins South Korea alliance to develop nuclear tech for maritime use HMM is seeking a wide range of clean fuels and technologies by way of using future alternative fuels that emit...
MPV sector slows as rebalancing under way after 'rush' of pandemic market Short-term uncertainty and longer-term confidence are the multipurpose sector's new normal, analysts say, after the extreme volatility of the COVID-driven market.
ILA, USMX stake out sides as Charleston appeals Leatherman ruling The Port of Charleston's request to overturn a ruling involving container calls to the Hugh K. Leatherman Terminal drew support from the US Maritime Alliance, but opposition from the International Longshoremen's Association.
US truckload capacity still abundant despite recent motor carrier exits Smaller trucking firms are leaving the market at a faster rate, but plenty of truckload capacity remains, especially at larger fleets that are just short of record truck counts.
VLCC rates climb as activity picks up and ships go hunting for business Rates for the largest crude oil tankers have jumped more than $12,000 in the last two weeks
Eagle Bulk swoops on modern Union Maritime ultramax for $30m Diana Shipping also rumoured to acquire Norden ultramax for $26m
Too high on crack? How refinery spreads may have tripped up tanker investors Market players possibly also made faulty assumptions about Europe's new ban on Russian clean product cargoes
Sanctioned Singapore outfit taking US allegations 'seriously' Unicious Energy said it is working to better understand the allegations the US made in blacklisting it last week
EuroDry misses analyst consensus due to weaker bulker market China's return to 'normality' could 'go a long way' for dry bulk shipping, chief executive Aristides Pittas says
Fresh VLCC deals propel 'Great Greek Tanker Sale' to new highs Asians' insatiable thirst for tanker tonnage has pushed Greek disposal proceeds over the past 12 months to about $4bn
Precious Shipping posts record profit in 2022 despite weak fourth quarter Thai-based bulker shipowner says dry bulk should expect to see continued market volatility in 2023
Green Seas podcast: The long and winding road to shipping's e-fuels revolution Our weekly sustainability podcast digs into the opportunities and challenges of green hydrogen, ammonia and methanol made from renewable electricity
Sinokor floats 40-year-old laid-up LNG carrier for scrap sale Not the first time, South Korean owner has tested market with this steam-turbine vessel
Euronav strikes fleet-wide tanker optimisation deal that promises huge fuel savings Tests indicate Belgian start-up Toqua's system can more than double fuel savings from traditional ship performance models
DNB bullish on chemical tankers as Odfjell profit tipped to hit $474m Investment bank says shipowner has momentum in contract renewals as the threat from clean tanker swing tonnage diminishes
HMM profits halved as talk of ship orders heats up South Korean liner giant posts second consecutive quarter of falling profitability
Doyens of LNG: 'LNG shipping is becoming a commodity,' Michael Tusiani and Gordon Shearer say New book by Poten & Partners duo declares shipowners can look to a 'bright future'
Freeport LNG resumes exports after eight-month break BP LNG carrier loads and leaves plant as other vessels arrive
Michelin gets DNV approval for inflatable wing sail test on ro-ro French manufacturer will also ship tyres across the Atlantic using wind power
Pyxis Tankers knocks chunk off interest costs with new Piraeus Bank loan Greek shipowner says overall debt maturity will also be stretched in deal involving MR tanker
Kawasaki Heavy Industries profits from VLGC orders Japanese shipbuilder reverses losses after upturn in gas carrier orders
Maersk launches big claim against Evergreen and Shoei Kisen over Ever Given grounding Danish group wants compensation for disruption to its business after container ship blocked the Suez Canal
China and Greece agree to cooperate on shipping finance Shanghai councillors and Hellenic Shipping representatives pledge to stimulate communication between owners and bankers
Northern Lights gears up to order next vessels to support Yara contract Carbon capture and storage company inks management deal with Japan's K Line on its first vessels
Wan Hai and Kotoko Kaiun container ships crunched in collision off Vietnam Extensive damage suffered by vessels in incident off Ho Chi Minh City
Golden Ocean claims top bulker spot with $291m sextet purchase John Fredriksen company benefits from 'short-term asset price weakness' to scoop up scrubber-fitted newcastlemaxes
Euronav rejects three CMB board candidates as non-independent Belgian owner recommending shareholders vote big investors John Fredriksen and Marc Saverys onto the board, however
Precious posts record profit in 2022 despite weak fourth quarter Thai-based bulker owner says dry bulk should expect to see continued market volatility in 2023
Pelagic Partners pays out first dividend from second fund after tanker buys Niels Hartmann and Atef Abou Merhi-owned company also reveals strong net asset value growth
Exodus of North Sea anchor-handlers a concern for charterers Norwegian shipbroker Seabrokers explains why vessel supply is again looking tighter
'Welcome to the family': Dorian LPG unveils chartered-in VLGC Vessel ordered by Hyundai LNG Shipping becomes Dorian LPG's first dual-fuel ship, with three more to follow soon
Shipping rides to the rescue as Turkey quake victim toll rises From fishing boats to liner companies, shipping is assisting aid efforts - some have suffered casualties themselves
Bahri Logistics expands breakbulk liner network into Asia Saudi shipping giant's new service will connect Asia to Europe via Jeddah Islamic Port
MSC and Costamare agree to jointly fund $45m California oil spill settlement But Swiss liner giant continues to deny liability, claiming it just wants to 'move forward' from the incident
OOCL suffers 40% decline in revenue on transpacific and Europe routes Hong Kong liner operator latest to report weaker rates as the global economy continues to emerge from Covid-19's shadow
CSSC's Shanghai Shipyard revived to build tankers and container ships The state-owned shipyard will be constructing newbuildings contracted by Shanghai Waigaoqiao Shipbuilding
India's $122bn infrastructure budget to boost country's burgeoning coal imports The world's second-largest importer of coal is more hungry for it than ever
HMM reports strong 2022 despite Q4 profit plunge HMM acknowledged that "freight rates in most key trade lanes have been under downward pressure since H1 2022."
Zim to expand e-commerce service at Port of Baltimore Ocean carrier Zim will increase the frequency and size of ships used for its e-commerce Baltimore Express service.
Port of Long Beach container volume plops Executive Director Mario Cordero said he is optimistic the Port of Long Beach will recapture market share.
Air cargo's Lunar New Year blues Business is very soft in the air cargo sector and likely to get softer still, but there are signs that demand could spark up in the second half of the year.
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