BOEM public meetings on NJ offshore wind could get heated The Bureau of Ocean Energy Management (BOEM) has announced the availability of the draft Environmental Impact Statement (EIS) for two wind energy projects offshore New Jersey. If approved, the two projects could
VIDEO: Svitzer orders two more TRAnsverse tugs Maersk group towage operator Svitzer has awarded a contract to Uzmar Shipyard in Turkey to build two new TRAnsverse tugs for its Australian business. The TRAnsverse tugs, created in collaboration with Robert
Wärtsilä reliquefaction system selected for FSU retrofit Wärtsilä is to supply the reliquefaction system for a retrofit project on an LNG carrier converted to operate as a floating storage unit (FSU). The vessel, the Energos Grand, is owned by
Bubble curtain will dampen Vineyard Wind foundation installation sound New Bedford, Mass., based Vineyard Wind, which is building the first commercial-scale offshore wind energy project in the U.S.,15 miles south of Martha's Vineyard, is to pilot deployment and and testing of
Nippon Express Group buys Austria-based global logistics player Owner and founder of cargo-partner Stefan Krauter has decided to sell the Austrian global logistics firm to Japanese stock-listed Nippon Express Holdings, which is also the parent company of Nippon Express, APC, Franco Vago and others. In fact, Stefan Krauter had already passed on the baton to his management and now has also passed over ownership to NX. After exceeding the billion euro mark in gl
Maersk expands warehousing footprint in Bangladesh A.P. Moller - Maersk announced the expansion of its Chattogram warehouse footprint. Maersk has begun the second phase of its agreement with ISATL, which will provide its clients with unique access to approximately 20,000m² of a state-of-the-art export custom bonded warehouse in Bangladesh. This warehouse was designed specifically for retail and lifestyle commodity exporters, and it is expected to
Maersk completes divestment of Maersk Supply Service Maersk has announced the completion of the divestment of Maersk Supply Service (MSS), a provider of global offshore marine services and project solutions for the energy sector. At closing, A.P. Moller Holding, the parent company of the A.P. Moller Group, will assume full ownership of MSS, which will continue trading under its current name and will be using the Maersk seven-pointed star logo as pa
APM Terminals pledges around US$1 billion investment in Brazilian facilities by 2026 APM Terminals' CEO Keith Svendsen pledged an investment of approximately US$1 billion in the company's Brazilian operations up to 2026. This figure includes around US$322 million of a total US$525 million investment exclusively for the Phase One development of a new terminal in Suape, a terminal located in Estaleiro Atlântico Sul, Brazil that is in the final stages of acquisition and will rejuven
Container freight rates drifting lower Hongkong and Shanghai Banking Corporation Limited (HSBC) reported that the Shanghai Containerised Freight Index (SCFI) declined by 1.5% week-on-week, while China containerised freight index fell by 1.2%, mainly due to weaker Intra-Asia rates, likely because competition intensified amid slower than-expected China recovery. The recent decline echoes HSBC's view that spot rates are losing momentum d
HHLA sees both financial and operating figures decline in 2023 Q1 In the face of continued geopolitical concerns, European Union economic sanctions, and weaker economic development, the beginning of 2023 was a challenging era for the German port and terminal operator Hamburger Hafen und Logistik AG (HHLA). Throughput volume at HHLA's container ports and terminals declined overall by 18.6% in the first quarter of the year to 1,416,000 TEUs. The box throughput at
Container traffic slows at Port of Long Beach The Port of Long Beach saw decreased container traffic in April with dockworkers and terminal operators moving 656,049 TEUs last month, down 20.1% from April 2022, which was the port's busiest April on record. Long Beach imports declined 21.8% to 313,444 TEUs, while exports increased slightly by 0.6% to 122,663 TEUs. At the same time, empty boxes moving through the port decreased by 26.2% to 219,
HMM's revenue and profits plunge in the first quarter of 2023 HMM has announced its revenue fell 58% in the first quarter of the year to US$1.56 billion (KRW 2,082 billion) from US$3.68 billion (KRW 4,919 billion) in the same period in 2022. Additionally, the South Korean company's operating profits dropped 90% in Q1 2023 to US$230 million (KRW 307 billion), while HMM's net profit was US$210 million (KRW 285 billion)vfrom US$2.34 billion (KRW 3,132 billion)
Feedertech ship remains stuck in New Zealand after additional engine issues Continuing engine trouble has kept the Feedertech ship Shiling stranded outside Wellington, New Zealand, nearly a month after losing power. On 12 May, the 2005-built, 5,117 TEU Shiling sent a distress call at 11 am local time while it was 22 nautical miles North North-West of Farewell Spit, with the 24-man crew indicating that the ship had lost power and steering in heavy seas and they were prepa
Asian waters see rise in sea robbery and piracy The Asian waters saw a 15% increase in piracy and sea robbery until April, in the first four months of this year, compared to the same period last year. According to Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP), until 1 May this year some 38 incidents were reported while in the same period last year, 33 incidents were reported. Of the total i
CMA CGM to reshuffle TMX 3 service CMA CGM's Short Sea Lines Division announced the rescheduling of the TMX 3 (Turkey Med Express) service between Turkiye, Italy, Slovenia, and Malta beginning in the 20th week of the year. This upgraded weekly service (starting from Izmir on 17 May 2023) would enable the implementation of a sustainable maritime bridge between North Turkiye and Ancona for better connectivity to central Italy and th
Yang Ming's first quarter profit exceeds US$110 million Yang Ming reported first quarter revenues of US$1.22 billion and net profit of US$112 million with earnings per share (EPS) of NT$0.97. According to the Taiwanese ocean carrier, the demand in the global market registered a downward incline because of the ongoing war in Ukraine, the consecutive imposition of interest rate hikes by the US Federal Reserve, and the current status of customer inventor
Diana Shipping gets lower rate on long-term kamsarmax fixture New York-listed Greek bulker owner Diana Shipping has chartered out its 2010-built kamsarmax to ASL Bulk Shipping, but this time it will not bring in as much as it did on a significantly shorter charter that ended this month. The 82,194 dwt Tsuneishi-built vessel, which Cargill last year contracted at 26,000 per day from March, ...
Costamare takes its bulker operating platform over the 50-ship mark New York-listed Greek owner Costamare has bolstered its dry bulk operating platform, Costamare Bulkers Inc. (CBI), taking its fleet over the 50-ship mark since last November. Established to charter in and out bulkers, enter into contracts of affreightment and utilise hedging solutions, CBI has since February, when the owner of 114 vessels announced its Q4 ...
SFL seals Volkswagen charter extensions John Fredriksen-controlled SFL Corporation has sealed a long-term charter extension deal with German carmaker Volkswagen. The New York-listed diversified owner has fixed its 6,500 ceu SFL Composer and SFL Conductor for at least three years, adding around $155m to its fixed-rate charter backlog, which as of March 31 stood at about $3.7bn. The extension and ...
Ingerslev takes the helm at Maersk Supply Service Former Maersk Tankers boss Christian M. Ingerslev is taking over the top position at offshore energy contractor Maersk Supply Service. After leading Maersk Tankers for the past seven years, Ingerslev is replacing Steen S. Karstensen, who has headed up Maersk Supply Service since 2016. The move follows the sale of Maersk Supply Service to A.P. ...
Maersk Tankers brings back Tina Revsbech as CEO Tina Revsbech is returning to Maersk Tankers as the company's new chief executive officer. Revsbech, who earlier spent more than 15 years at Maersk Tankers as head of chartering and head of Maersk Tankers for Americas and Singapore, will take over from Christian M. Ingerslev. Revsbech has over 30 years of industry expertise, including the ...
Samudera swoops for Japanese LPG resale Singapore-listed Indonesian owner Samudera Shipping Line is expanding its fleet with a liquefied petroleum gas carrier newbuild from Japan. The company's Singapore-based tankers unit is paying $26.2m to Global One Energy in Geneva for a 7,500 cu m vessel resale. The unit is under construction at Japan's Sasaki Zosen shipyard (pictured) and should be delivered ...
New study finds ammonia-powered capes will be ready to depart from Australia within five years A new study from the West Australia - East Asia Iron Ore Green Corridor Consortium suggests ships powered by clean ammonia could be deployed on the iron ore trade routes between West Australia and East Asia by 2028 and reach 5% adoption by 2030. The study indicates that the core elements for implementation of a ...
European Energy and Vårgrønn forge Baltic Sea wind tie-up Danish renewable energy company European Energy and Vårgrønn, a joint venture between Eni's Plenitude and HitecVision, have established a long-term strategic partnership to jointly pursue offshore wind opportunities in the Baltic Sea within Lithuania, Estonia and Latvia. The three Baltic states have a total estimated offshore wind potential of around 15.4 GW and are opening ...
Apollo drops Wood takeover move A deal to take over UK consulting and engineering firm Wood will not move forward. After a series of proposals, the US-listed private equity group Apollo has decided to step back and not make any further bids for the Aberdeen-headquartered business. "Following an extended period of detailed engagement, the board notes the announcement by Apollo ...
Cape sales proliferate Capesize sales are proliferating this month. One of many sellers is Taiwan's prominent industrial player, Formosa Plastics Group, who has let go of one of its three scrubber-fitted baby capes from Dalian Shipbuilding, the 2011-built, 104,000 dwt . The ship is reported sold for $24.85m to Landseadoor Shipping, an Indonesian owner which already has two ...
Hengli Shipbuilding bags four bulker newbuilds Hengli Shipbuilding, the yard formerly known as STX Dalian, has cemented its revival with orders from compatriot owner Haixing Shipping for four 82,000 dwt bulk carriers. The latest contact follows on from orders last November for four 20,000 dwt bulk carriers. Hengli Heavy Industry Group, a subsidiary of petrochemical giant Hengli Group, paid RMB1.729bn ($257m) ...
Suzhou Xinxin orders panamax bulkers at Taizhou Kouan Chinese owner Suzhou Xinxin Shipping has placed an order for two 86,000 dwt bulk carriers at the domestic yard Taizhou Kouan Shipbuilding. The order will lift Suzhou Xinxin's fleet to four bulkers which also includes a pair of New Dayang-built ultramax vessels. The panamax pair is set to be deployed on Chinese coastal and river ...
HD Hyundai looks at Subic Bay for next expansion HD Hyundai, formerly known as Hyundai Heavy Industries, is looking at overseas expansion, and has expressed interest in using two drydocks in Subic Bay in the Philippines. According to the office of the president of the Philippines, the Korean giant is looking to set up at the facility, originally founded by Hanjin Heavy Industries & ...
US to deploy more naval assets as tensions with Iran grow The United States said Friday it was sending reinforcements to the Gulf after what it called increasing harassment by Iran of ships in and around the Strait of Hormuz with the possible return of convoys being mulled by Washington and allies. Iranian forces seized a 9,300 dwt product tanker called on Friday, a ship Iranian ...
K Line orders LNG carrier Kawasaki Kisen Kaisha, (K Line) has fixed a 15-year long-term LNG time charter contract with an option to extend the contract up to 10 additional years with Mitsubishi Corporation subsidiary Diamond Gas International and has signed a shipbuilding contract with Samsung Heavy Industries for a 174,000 cu m LNG carrier. The ship will deliver in ...
Iran and the risks to commercial shipping Shaun Robertson, an intelligence analyst at Palaemon Maritime, on the ongoing threats to commercial shipping brought about by Iran. Friday saw a product tanker called Purity seized by Iran, a third ship in quick succession, putting commercial shipping on high alert. On May 3 this year, the Panama-flagged, Greek-owned tanker Niovi was seized in the ...
Eurodry eyes 'supply squeeze' ahead in dry bulk Market decline pushes Nasdaq-listed owner to first-quarter loss, although rates have since improved
Management moves at Maersk units AP Moller Holdings has completed its acquisition of Maersk Supply Services from Maersk. An open position at Maersk Tankers sees...
Revived Hengli Heavy Industry wins largest order to date Dalian-based shipbuilder agrees newbuilding deal with domestic shipowner Fortune Ocean Shipping for four 82,000 dwt bulk carriers, bringing total orderbook up...
The week in newbuildings: Maersk signs letter of intent for mid-sized boxships at Chinese shipyard Maersk is set to sign firm contracts next month for eight 8,000 teu boxships capable of operating on methanol at...
Costamare Bulkers platform surges to 51 chartered-in vessels US-listed boxship and bulker owner posts strong profit for first quarter of the year as new chartering operation hits 50-vessel...
The week in charts: Container spot rates keep sliding | Grain corridor registrations halt | Evergreen sells first boxship for scrap in three years Stena orders first methanol-capable ro-ro cargo ships, US import volumes are expected to continue climbing throughout the summer - but will...
Doubling of machinery failures since 2012 leads casualty trend analysis The report, subtitled 'Advancing a culture of safety in a changing industry landscape', advocates the creation of a safety practice...
Volume retreat hits HHLA's first-quarter earnings With its Odesa terminal closed by war, HHLA knows how geopolitics can affect business. Despite the uncertain outlook, it is...
Fragmented regulation now a top risk for shipping, ICS survey finds Most respondents saw increased levels of risk, related to political and financial instability because of the conflict in Ukraine and...
K Line and Mitsubishi pen 15-year charter for newbuild LNG carrier Deal includes an option to extend the time charter for up to another 10 years upon delivery
Singapore's bunker sales continue rising in April Lower fuel prices in Singapore compared with Zhoushan, China helped to drive bunker demand
HMM warns of recession risks as first-quarter profits plummet Net profits dropped 91% from the level a year ago to about $190m for the first three months of 2023...
Iran claims another tanker seizure as US Navy set to increase presence in Strait of Hormuz US Navy announces partnership with allies to increase rotation of ships and aircraft around the Strait of Hormuz as Iran...
Daily Briefing Return of 'high-risk' mid-Atlantic ship-to-ship transfers of China-bound Russia oil | Ship seized in Mariupol is being used in 'spoofed'...
ILWU, state of Maryland throw support to ILA in Leatherman case The International Longshoremen's Association should be able to sue ocean carriers that do not abide by work preservation rules, according to several briefs filed in support of the union's dispute involving jobs at the Port of Charleston's new terminal.
FLOW gains momentum with 'give-to-get' data-sharing model The growth in participation in FLOW is a signal that the private sector views the voluntary nature of the project as more amenable than governmental data-sharing mandates or legislation.
Cargo fraud, theft surging in 'wild west' US truck market Many businesses are being forced to tighten controls over how goods are shipped and who they ship them with, but the technology that helps them may also be used against them, according to industry sources.
Top US Shippers: Recession fears pulling at the seams of growing clothing imports Unlike last year, when apparel importers front-loaded volumes in the first half, apparel shippers are waiting for more clarity on consumer spending before they bring back-to-school and holiday inventory into the US.
HMM says will take 'cost-cutting measures' after plunge in Q1 financials The South Korea-based liner became the latest carrier to illustrate the post-pandemic crash in container shipping, posting a 91% drop in net profit for the first quarter.
Three kamsarmax bulkers put on multi-month charters in a week Diana Shipping has chartered out a vessel to ASL Bulk Shipping for nearly two years
Seanergy finds $15m in new liquidity by refinancing three capesize bulkers Moves include two sale-and-leaseback deals and a green loan that create $54m in refinancing
EuroDry posts loss as mid-sized bulker market weakens But chief executive expects 'supply squeeze' and slow-steaming over next few years to boost rates
Rina rolls out plan to double revenues to $1.25bn Genoa-based class society plots expansion that will create 1,800 jobs
The Shiling adrift off New Zealand again a month after first losing power Troublesome container ship relying on tugs once more in rough seas
DSME losses continue in first quarter 2023 as Hanwha buyout looms But shipbuilder cuts back on red ink bleed despite rising costs and banks on LNG carrier sector for future profitability
Top shipping names put vessels into Costamare Bulkers' expanding fleet Fleet list of Konstantakopoulos bulker trading platform develops into a who's who of major shipping companies
$600 to avoid inspection: Stolt Tankers speaks out against corruption Shipowner highlights growing problem in ports worldwide
Fredriksen's SFL Corp fixes more than $1bn of new financing but profit drops Sale-and-leaseback company has now funded its newbuilding and capex programmes
Tina Revsbech set to return to Maersk Tankers as CEO Highly regarded executive replaces Christian M Ingerslev, who moves to Maersk Supply Service
Greek shipowner Costamare boosts profit as bulker outfit grows to 51 ships Container ship and bulker giant benefits from capital gains to counteract slower bulk markets
Scorpio Tankers efficiency falls, but emissions down on smaller fleet AER figures rise for owner's handysize, MRs and LR2s
Australia-Asia iron ore green corridor feasible by 2028, consortium says Study by group involving BHP, Rio Tinto, Oldendorff Carriers and Star Bulk Carriers argues more than 20 vessels could operate on a clean ammonia corridor by 2030
Norwegian naval officer convicted over tanker collision The naval frigate Helge Ingstad sank after the collision with the Twitt Navigation-owned tanker off Bergen
Freight derivatives need to solve the 'chicken and egg' problem to crack growth Making freight-price indices more accurate is the 'burning issue', according to chief investment officer of Consortium Maritime Trading
US 'concerned' after claiming Russian ro-ro loaded weapons in South Africa Ambassador says port call by Transmorflot vessel may have breached neutrality
Suicide bomb attack on Chinese shipyard workers foiled by Pakistan Alleged attacker killed by police in Port Qasim
Norway's 'Rock 'n' Roll' mutual insurer Skuld gunning for growth Door is open for talks with a suitable merger candidate, but the Oslo-based mutual insurer is also ready to go it alone
Grieg and Peak venture wins Norwegian grant for three zero-emission newbuilds Skarv Shipping wants to be among the first to operate ammonia-fuelled cargo ships
New Fortress Energy LNG FSU to be retrofitted with reliquefaction kit Wartsila supplying equipment for steam turbine LNG carrier being used for storage in bid to save boil-off gas volumes
Reborn Hengli Heavy bags bulker newbuildings from Fortune Ocean 'First true newbuilding deal' for Dalian yard since its return to the shipbuilding market
K Line inks charter for lone LNG carrier newbuilding with arm of Mitsubishi Corp Shipowner said LNG business is one of its 'priority areas' for investment
HMM profit falls from record levels in container ship market 'normalisation' But South Korean giant still comes in $213m ahead in first quarter
Reborn Hengli Heavy bags bulk carrier newbuildings from Fortune Ocean 'First true newbuilding deal' for the Dalian-based yard since its return to the shipbuilding market
Vasilis Bacolitsas goes to Hollywood: Greek shipowner snaps up LA home for $17.5m Sea Pioneer director moving to exclusive neighbourhood for a bargain price
Bacolitsas goes to Hollywood: Greek owner snaps up LA home for $17.5m Director of Sea Pioneer moving to exclusive neighbourhood for a bargain price
Greek shipowner Nicholas Notias ups game with fresh tanker and bulker newbuildings Greek owner's SteelShips inks MRs in South Korea and considers ultramaxes in China
Samudera Shipping confirms $26m splash on LPG resale in Japan Indonesian owner acquires its biggest gas carrier in deal with Global One Energy
Time for IMO to walk the walk: Elect a woman secretary general Ahead of the International Day for Women in Maritime this week, former Maersk Africa director Anita de Werthe argues UN's shipping agency has the opportunity to send a powerful signal at the upcoming leadership election
Product tanker sector 'nervous' as d'Amico seeks period deals Volatile market leaves charterers reluctant to commit to longer contracts, Italian owner says
Container ship Shiling to be towed back to Wellington Authorities say owner is working to confirm a suitable location where the vessel can safely anchor or berth
Shipping boom hangover: When measuring markets gets tricky The container shipping party is over - that's old news. Yet headlines continue to focus on comparisons to the peak.
DSV unveils details for new Phoenix-Mesa air cargo operation If you've never heard of Phoenix-Mesa Gateway Airport, you're not alone. But for DSV, a large logistics company, it could prove a diamond in the rough for air cargo purposes.
Optimism fades for airfreight recovery on slow-healing inventories Recovery from the recession in airfreight transportation looks like it will be drawn out over the next year - and very slight when it does happen.
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