Carnival's Costa Group in MOU on methanol fueling for cruise ships Methanol continues to make new inroads into the marine fuel market. Yesterday, it was the bulk carrier segment where methanol fueling was in the news. Today, it's cruising. Costa Group, part of
Siemens Gamesa concludes charter agreement for NYK crew transfer vessel Japan's NYK Group has concluded a time charter contract to provide Siemens Gamesa with a crew transfer vessel (CTV) for the offshore wind power generation facility at Ishikari Bay New Port, which
ICS tries again on "Fund and Reward" GHG reduction proposal The International Chamber of Shipping (ICS), which represents over 80% of the world's merchant fleet, has submitted a revised proposal to the International Maritime Organization (IMO) that reaffirms the industry's commitment to
VIDEO: Eastern Pacific tanker completes Filtree CCS system retrofit Singapore-based Eastern Pacific Shipping (EPS) reports that it has completed the successful installation of Value Maritime's (VM) Filtree system onboard its managed vessel M/T Pacific Cobalt in Rotterdam. The Filtree system, which
PortMiami to deploy world's largest shore power system Hadsund, Denmark, headquartered PowerCon AS is to deliver five shore power systems for cruise ships. When installed in the Port of Miami by the end of the year, the combined system will
MacGregor receives large RoRo equipment order for two vessels MacGregor has been chosen to supply RoRo equipment for two 8000 LM RoRo ships built for CLdN in Luxembourg by Hyundai Mipo Dockyard (HMD) in South Korea. The order has been entered into Cargotec's orders received in the first quarter of 2023. The first vessel will be delivered to the owner by the end of the fourth quarter of 2024, and the second vessel will be delivered in the second quarter of 2
Konecranes introduces new lift truck innovations Konecranes added two new technical innovations to their lift truck lineup: reach stackers that can carry larger empty containers and spreaders with greater capacity. Not all containers are entirely loaded when crammed for transport or totally empty when they reach their destination. As a result, Konecranes has launched the SMV 128 TC6 reach stacker, which can handle semi-laden and empty container
Maersk and Mawani break ground for Saudi Arabia's largest Integrated Logistics Park A.P. Moller - Maersk and Saudi Ports Authority (Mawani) broke ground for Saudi Arabia's largest Integrated Logistics Park at Jeddah Islamic Port today (16 February). The new facility will be able to handle yearly volumes of around 200,000 TEUs across a variety of products. The 225,000 m² greenfield project will be the first of its type at the Jeddah Islamic Port, offering extensive infrastructure
Port of Barcelona improves financial results amid steady box volumes Container volume remained at the same levels as in 2021 (-0.3%) and exceeded 3.5 million TEUs in 2022 at the Port of Barcelona. In particular, the Spanish port saw an increase in import containers (+3.4%) and transit containers (+4.5%). On the other hand, the export container was down around 6%. According to the port, that happened because of the slowdown in international maritime traffic. China,
T&E blames EU of dodging deadline on polluting trucks Polluting trucks could be supplied in Europe beyond 2040, according to a new European Union (EU) plan that Transport & Environment (T&E) fears would make the net-zero climate objective difficult to achieve. The planned 90% CO2 reduction target for truckmakers, according to the green organization Transport & Environment (T&E), almost guarantees that diesel freight trucks will still be on the road
COSCO SHIPPING Ports reports box volume drop in January COSCO's port operating subsidiary, COSCO SHIPPING Ports saw its total container throughput decrease by 10.3% in January, compared with the same month last year. In particular, the Chinese operator handled more than 7.7 million TEUs in the first month of the year across all of its ports and terminals worldwide. According to the company, the main reason is that the Chinese New Year holidays in 2023
MSC introduces ID-based container pick-up MSC Mediterranean Shipping Company has announced the launch of ID-based container pick-up. This decision came after a successful test phase with Van Moer Logistics and MSC PSA European Terminal (MPET) in 2022. More specifically, this technology is going to allow MSC containers to be released for transport using ID and biometric data, rather than a PIN code, improving security across the supply ch
Falling retail and manufacturing orders lead Savannah to container volume drop in January Loaded container exports at the Port of Savannah increased by 21% in January, compared with the same month in 2022, reaching 110,305 TEUs, while the US port's overall trade in the first month of the year was 421,714 TEUs. According to the Georgia Ports Authority (GPA), exports from the United States were a bright spot last month for the port, when overall cargo fell by 55,000 TEUs, or 11.5%, comp
MSC, DB Schenker seal biofuel deal World's largest container line MSC and global freight forwarder DB Schenker have made an agreement according to which, DB Schenker will use 12,000 metric tons of biofuel component for all of its own consolidated cargo, less-than-container load (LCL), full-container-load (FCL) and refrigerated containers (reefer containers), from MSC. According to a joint statement, the amount of biofuel purchased
OOCL receives its first giant vessel with over 24,000 TEU capacity Orient Overseas Container Line (OOCL) received its first 24,188 TEU container ship, which was officially named "OOCL Spain" at a ceremony held on 16 February in Nantong, China at the No.2 outfitting quay of Nantong COSCO KHI Ship Engineering Co. (NACKS), which built the ship. The giant vessel has a total length of 399.99 meters and a width of 61.3 meters and is the first container ship of OOCL to
Euroseas pursues legal action against CSL for charter repudiation Greek container vessel owner Euroseas has announced it is pursuing legal action against Singapore-headquartered Continental Shipping Line (CSL). Euroseas claims that CSL, the charterer of the 1,069 TEU boxship Aegean Express, repudiated its charter in January 2023. "Continental Shipping Line, Singapore (CSL), the charterers of M/V Aegean Express, in January 2023 repudiated its charter as the vess
Port of Oakland plans for sustainable growth and green projects Danny Wan, executive director of the Port of Oakland, said the Californian port needs to proceed with plans for sustainable growth and green projects. To achieve its green transition, the Port of Oakland is taking steps to "green" itself, including a US$2 million investment in the design of a renewable energy infrastructure project, implementation of all-electric trucks and top pickers (cargo-han
Hunterston PARC granted special development status Hunterston Port and Resource Campus (PARC) has been granted national development status by the Scottish government under the National Planning Framework 4 (NPF4), paving the way for new renewable energy ventures to come onstream. According to the statement, Hunterston has been designated as a strategically significant site that will play an essential part in delivering Scotland's new national dev
Downward trend in bunker indices worldwide Over the sixth week of the year, MABUX global bunker indices continued a firm downtrend. The 380 HSFO index declined to US$476.42/MT, the VLSFO index fell to US$700/MT and the MGO Index decreased to US$988.48/MT. The Global Scrubber Spread (SS) weekly average - the difference in price between 380 HSFO and VLSFO - decreased for Week 06 - minus US$12.68 (vs. US$236.33 last week), while the average
United Maritime boosts fleet with secondhand bulker trio Greek owner United Maritime is expanding its dry bulk fleet with the addition of three secondhand vessels. The Nasdaq-listed spinoff of Greek capsize specialist Seanergy Maritime, with two capes and one LR2 tanker in its fleet, has bought a pair of kamsarmax bulkers from an unnamed seller and bareboat chartered-in a panamax from a Japanese ...
Uniper sells UAE bunker trading unit Düsseldorf-headquartered energy company Uniper has reached an agreement to sell its United Arab Emirates-based crude oil processing and marine fuel trading business, Uniper Energy DMCC, to a consortium of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum. The agreed purchase price has not been disclosed, and the acquisition is expected to ...
Bourbon and Horizon Maritime form offshore joint venture French offshore vessel player Bourbon and its Canadian counterpart Horizon Maritime have established a joint venture company targeting the North Sea and Canadian offshore sectors. Bourbon Horizon will be incorporated in Norway with a base fleet of seven offshore support vessels of which five platform suppliers, a WROV-fitted large AHTS and a multipurpose support vessel ...
NYK seals crew transfer vessel charter with Siemens Gamesa Japan's Nippon Yusen Kaisha (NYK) has sealed a crew transfer vessel (CTV) time charter contract with wind turbine maker Siemens Gamesa. The vessel will transport workers to the offshore wind farm at Ishikari Bay New Port, which is scheduled to begin commercial operation in December 2023. The project is being developed by Green Power Ishikari ...
SFL offloads suezmax tanker for $39m John Fredriksen's SFL Corporation has agreed to sell its 2009-built suezmax tanker for $39m. The New York-listed diversified owner said the ship, which matches the description of the 156,000 dwt would be delivered to an unnamed buyer in February. SFL estimated net cash proceeds of around $23m after repayment of associated debt and an accounting ...
TotalEnergies links up with Corio for offshore wind in Taiwan French energy major TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Under the agreement, Corio, a portfolio company of Macquarie's Green Investment Group (GIG), will remain the majority shareholder and lead developer with 50% plus 10 shares overall in the project. The announcement ...
China's shipbuilding market share exceeds Japan and South Korea combined In 2022, Chinese shipbuilders reached a market share of 47% and for the first time exceeded the combined market share of Japanese and South Korean shipyards, according to new data released by BIMCO. Ships delivered to new owners by Chinese shipyards in 2022 totalled 14.6m compensated gross tonnes (cgt) of the 30.8m cgt delivered globally. ...
Brisk start to the year for containership scrapping Twice as many containerships have already been scrapped this year compared to the whole of 2022 with liners and tonnage providers anxious to prune their fleets amid plummeting rates and an uncertain outlook for the global economy. The latest count shows 15 boxships have been sent for recycling so far this year, compared to just ...
Eagle Bulk swoops for ultramax sisters Eagle Bulk's appetite for modern, scrubber-fitted ultramaxes remains strong. Sources tell Splash that the US-listed company has moved for two three-year-old Cosco Yangzhou-built ultramax sisters, the 63,000 dwt Springfield and Aston for around $60m. The duo belongs to UK-based heavyweight Union Maritime. The last time Eagle Bulk grabbed a ship was in January with the ...
Singapore mega yard merger moves ahead Shareholders of Sembcorp Marine (Sembmarine) voted to merge with Keppel Offshore & Marine (Keppel O&M) today paving the way for the consolidation of the Singapore shipyard scene. The $4.5bn deal won the approval of 95.28% of voting shareholders at a virtual extraordinary general meeting. With the merger now green-lighted, Keppel's Chris Ong will be appointed ...
Aquadrill reveals new contract in Thailand UK-headquartered rig owner Aquadrill and a subsidiary of rig manager Energy Drilling Management have secured a deal for the provision of tender-assisted drilling barge T-15 for operations in Thailand. The contract is for a firm period of eight-and-a-half months plus a priced optional period of up to three weeks. Operations will start in April this ...
Reach Subsea raises $12m for fleet investments Norwegian offshore services player Reach Subsea has raised NOK125m ($12.3m) via a private placement of 29,4m new shares to support its first planned vessel acquisition and other investments. The Oslo-listed company said it plans to use the cash to finance the equity portion of the subsea vessel it agreed to acquire last November; for investments ...
Eastern Pacific installs first-of-its-kind carbon capture solution onboard MR tanker Eastern Pacific Shipping (EPS) has announced the successful installation of Value Maritime's Filtree system onboard its managed vessel Pacific Cobalt in Rotterdam. The Filtree system, which filters sulphur and 99% of particulate matter, includes Value Maritime's carbon capture and storage (CCS) module that can capture up to 40% of CO2 emissions from the vessel's main ...
ICS details fund and reward green proposal The International Chamber of Shipping (ICS) has sent a submission to the International Maritime Organization (IMO) fleshing out its fund and reward proposal to get the industry on a green track, after previous decarbonisation plans from the lobby group had failed to garner interest in recent years. The revamped proposal calls for shipowners to make ...
Top carriers vow to make all bills of lading electronic by 2030 Nine top global carriers belonging to the Digital Container Shipping Association(DCSA) have committed to 100% adoption of an electronic bill of lading (eBL) based on DCSA standards by 2030 in a significant digital step forward for the industry. Switching away from the transfer of physical paper bills of lading could save $6.5bn in direct costs ...
Petrobras commits to reducing methane emissions Brazil's state-controlled oil company Petrobras has signed an agreement to join the Oil & Gas Methane Partnership 2.0, a global initiative coordinated by the United Nations Environment Program and the Climate and Clean Air Coalition. The OGMP seeks to enable the oil and gas industry to realize deep reductions in methane emissions over the next ...
Port of Brunswick shipping channel expanding to accommodate larger ships The Georgia Ports Authority (GPA) and the Army Corps of Engineers have signed an agreement that will see the Army Corps begin work to widen and deepen parts of the shipping channel of the state-operated Port of Brunswick. The expansion will enable the port to accommodate larger cargo vessels. Construction is expected to begin in ...
Dry bulk market failing to inspire Hopes of a post-Chinese New Year boost fail to materialise with capesizes bearing the brunt of the losses, while sub-capesize...
Bullish Scorpio doubles dividend after record year Increases in product exports and tonne-mile demand coupled with a low orderbook will continue supporting Scorpio's product tankers for the...
Digital progress requires sweeping away deep-rooted technophobia Digital disruption is unlikely in shipping because of the industry's complexity and fragmentation. Key elements in change will be diversity...
Ukraine billion-dollar total loss payout fears receding Around 70 vessels have potential constructive total loss claims on first anniversary of Russian invasion next week, but underwriters confident that many...
Vafias puts emphasis on further growth for Imperial Petroleum Spin-off from StealthGas posts $30m net profit for first year of operation
Carriers face tough talks over contract rates After the chaos of the past two years drove rates ever upwards, the shoe is now on the other foot...
Golden Ocean expects market rebound Positivity stems from China's reopening as well as global growth figures that are better than expected, combined with low fleet...
MSC and DB Schenker agree biofuel deal Biofuels provide an easy first step in reducing carbon emissions. Forwarders can then resell that product as an environmental gain...
IMO to address CII concerns post review Sectors within shipping have called on the IMO to revise its carbon intensity indicator regulations, suggesting its metrics are 'flawed'
MSC pens $1.2bn methanol-ready boxship order Newbuildings are developed by the Offshore Engineering Design & Research Institute of CIMC, whose state-owned parent owns a 30% stake...
Malaysia's MISC positive on LNG outlook LNG spot rates remained high in the fourth quarter of 2022, despite falling sharply in December due to unwinding floating...
Euroseas takes legal action after charterer walks away from feeder deal With large overall boxship orderbook, owner is fortunate to be in smaller market segment, says Euroseas chief executive Aristides Pittas
ICS spells out details on 'Fund and Reward' system to achieve net zero The fund will be used to reward first movers of alternative fuels that are used to cut carbon dioxide emissions...
Daily Briefing Cyprus axes ships as EU targets Dubai Sovcomflot operations | EU port authorities detain three tankers linked to Russian oil...
GPA cuts Savannah hours, discontinuing pop-up yards amid volume decline The Georgia Ports Authority instituted evening truck gate hours at the Port of Savannah in 2021 to combat the import surge that resulted in more than 30 vessels anchored outside its Garden City terminal.
Canada commits up to C$50 million for digital supply chain projects The funding commitment comes after port congestion in Western Canada last year, fueled by backlogs at key inland hubs such as Toronto and Montreal, slowed import shipments.
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New carrier connections heighten rate pressure on India-US trades Container shipping sources in India expect an even more dramatic impact on carrier pricing power in the coming weeks as new services added recently settle into the market.
Acquisition spree continues despite downshift in container shipping bull run The container shipping industry's profit margins are easing, but the appetite for acquisitions - from air cargo units to last-mile delivery logistics - isn't letting up, writes Journal of Commerce Executive Editor Mark Szakonyi.
Cap European rail electricity price hikes or lose out to road: intermodal group Long-haul rail freight in Europe, the main alternative to road transport, is being undermined as the cost of electricity far outstrips diesel, say combined transport stakeholders.
Klaveness Combination Carriers posts biggest-ever profit and feels draw of tanker rate boom Oslo-listed company is feeling the powerful gravitational pull of tanker time charter rates
'Mind-blowing' US crude inventory build-up could boost tanker rates US government report shows enormous increase in commercial crude inventories
'Strong belief': United Maritime confirms $63m bulker swoop Seanergy Maritime spin-off is upbeat about the prospects of the bulker market
Analysts praise Golden Ocean results but adjust expectations for first quarter Capesize market remains in the doldrums and analysts are tweaking their estimates accordingly
Tanker at centre of 'dark trade' probe detained at Greek port Suezmax identified by tanker tracking groups over alleged network smuggling sanctioned Venezuelan oil
Burbon and Horizon team up on North Sea and Canada-focused joint venture Harsh-environment tie-up to be called Bourbon Horizon with offices in the Maritimes and Norway
Scorpio Tankers doubles dividend and restocks $250m buyback fund First-quarter bookings remain strong despite product market's January swoon
EcoClipper invites €25,000 investors in share offering to take free trips Dutch sailing cargo vessel start-up looking to raise €225,000 to pay off its first ship and launch transatlantic liner service
Streetwise: After a decade on the public-market seas, Ardmore's ship has finally come in TradeWinds' weekly finance newsletter takes a look at Ardmore Shipping's long, strange trip from 10 years as a public shipowner
Port specialist retreats to Russia after plunge in business Global Ports Investments has lost major shareholders since Ukraine invasion
Has Maersk turned from cuddly 'Big Blue' to corporate 'Bad Boy'? The mask of moderation would appear to be slipping at the liner giant as markets slide and money screams
Shell says Europe-Asia LNG demand competition set to intensify Battle for volumes between buying regions may 'dominate' LNG trade over longer-term as supply gap emerges
Suez Canal tanker surcharges rise in yet another tariff hike Measure applies from 1 April and adds to a string of other toll increases
Evalend Shipping doubles up on newbuilding orders at Yangzijiang Shipbuilding Greek shipowner now has four MR tankers and four handysize open-hatch bulkers booked at yard
Sembcorp Marine shareholders give go-ahead to merger with Keppel O&M Majority of Sembcorp Marine shareholders gave the thumbs-up to proposed merger of Singapore's largest yard groups
Awilco LNG profit slashed for 2022 after 'roller-coaster' year But both its LNG carriers are now chartered out on fixed rate contracts until third quarter 2024
Golden Ocean Group profits sink on cooler freight markets The bulker owner will pay out a smaller dividend for the final quarter of 2022
Grindrod Shipping's profit dips on weaker bulk market during back end of 2022 Bulker owner preaches financial prudence despite bringing home more than $100m for the second year in a row
BP teams with Knutsen OAS venture to target South Korean offshore wind sector Oil major says Asian nation is an exceptional market to expand bp's growing offshore wind footprint
Rebounding repair and offshore sectors send Marco Polo Marine profits surging Singaporean shipyard and offshore group is bullish about its 2023 financial year as first quarter gross profit surge 153%
EPS aims to 'move the needle' in net zero drive with MR carbon capture trial Shipowner says if the industry it wants to meet net zero targets it needs to start moving the needle significantly now
Prem Watsa's Fairfax spends $78.7m to lift Atlas Corp stake to $2bn New York-listed parent of Seaspan Corp reveals a dip in fourth-quarter profits, but not enough to prevent full-year earnings growth.
Beleaguered Los Angeles port pins hopes on 2nd-half rebound Los Angeles continues to face a double whammy of sinking demand and fears over the port labor contract that expired in July.
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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