Carnival Cruise Line marks 100 million guest milestone One of Carnival Corporation's & nine brands, and the one that arguably transformed the industry into what it is now, Carnival Cruise Line, today had 100 million reasons to celebrate. It achieved
Austal USA awards FMD contract for OPC equipment Austal USA has awarded Fairbanks Morse Defense (FMD) a contract for a range of equipment to support the construction of WMSM-919, the U.S. Coast Guard's fifth Heritage-class Offshore Patrol Cutter (OPC). Over
Vale deploys Kongsberg Digital's Vessel Insight on Valemax quartet Brazilian mining giant Vale, one of the world's largest charterers of ore carriers, has been investing heavily in developing more efficient, greener, vessels. It is using Konsberg Digital's Vessel Insight to confirm
ABS Wavesight and Marlink partner to accelerate maritime digital transformation ABS Wavesight, the maritime software as a service (SaaS) company launched by ABS last November, is teaming up with Marlink to collaborate on using optimized connectivity to support efficient delivery of sustainability
Another Matson box ship set for LNG dual-fuel retrofit Matson Navigation Company (NYSE: MATX) is to convert the main engine of its containership Kaimana Hila from an MAN B&W S90ME-C10.5 unit to a dual-fuel ME-GI unit capable of running on LNG.
Shell takes FID on U.S. GoM Dover field As the U.S. Department of the Interior continues to drag its heels in developing the next federal offshore oil and gas leasing program, Shell yesterday made an announcement that underscores the continuing
Successful TTB 2023 sees largest attendance to date Attendance at TTB (Tugs, Towboats & Barges) conference exceeded expectations for the third year in a row-especially for vessel owners and operators, C-level executives, and shipyards. This year, nearly 300 people gathered
California and Japan sign agreement for clean ports and green shipping industry The governments of California and Japan announced a new collaboration aiming to clean up a critical link in the global supply chain by cooperating on strategies to cut planet-warming pollution at seaports and establish green shipping corridors. "The ports of California and Japan help power the global economy and will now help power a new era of clean energy, clean transportation and good-paying g
Downward trend for global fuel prices Global bunker indices showed a downward trend during the 11th week of the year, according to Marine Bunker Exchange (MABUX). In particular, the 380 HSFO index fell to US$471.61/MT, the VLSFO index decreased to US$641.41/MT and the MGO index declined to US$915.25/MT. The Global Scrubber Spread (SS) - the price differential between 380 HSFO and VLSFO - showed a firm decline in Week 11 - minus US$9.
Nokia provides The Ocean Cleanup project with wireless connectivity Nokia will provide The Ocean Cleanup, a global non-profit initiative working to create and expand technologies to rid the world's seas of plastic, with private wireless connectivity, network edge devices, and analytics. The first Nokia Digital Automation Cloud (DAC) private wireless solution for The Ocean Cleanup's operations in the North Pacific has already been effectively implemented by Nokia
COSCO Shipping Ports invests in Egypt's box terminal COSCO SHIPPING Ports Limited (CSPL) has announced its investment in 25% of the equity in Sokhna New Container Terminal, Egypt. On 15 March, Zhao Fengnian, chief accountant of the company representing CSPL, attended the signing ceremony in Cairo, Egypt, and signed the project agreement with the other partnering companies. This project is a new terminal built by the Egyptian government and will be
Drewry's World Container Index knocks January 2020 levels, but will the spring leave the winter far behind? The Drewry's World Container Index (WCI) dipped to US$1,791 on 16 March 2023, recording its 50 th week of dips over the last year. The rates have fallen on all routes further this week, with the transatlantic rates dipping to US$5,326. The rates on this route touched a high during the fourth quarter of 2022. But now they have fallen to a 20-month low, in a span of a quarter. Rates on the Shanghai
Singamas earnings plunge as box trade slips Singamas, the fourth largest container manufacturer, announced on 15 March that 2022 net profit fell 73% year-on-year to US$56.57 million as container trade slowed in 2H 2022 and there was an oversupply of containers. Revenue fell 33% to US$775.98 million. Turnover from Singamas' core business of manufacturing dry containers, was down 40% to US$610.09 million, as 242,000 dry boxes were sold in 20
MSC partners with Global Centre for Maritime Decarbonisation MSC and the Global Centre for Maritime Decarbonisation (GCMD) have signed a five-year Impact Partnership agreement. GCMD was formed as a non-profit organisation, is located in Singapore and seeks to assist the industry in reducing greenhouse gas (GHG) emissions by developing guidelines for future fuels and testing low-carbon solutions. MSC has pushed for the provision of a variety of alternative
THE Alliance stops Cape of Good Hope diversions THE Alliance has stopped rerouting ships around the Cape of Good Hope on the Asia-Europe route. The rerouting was a temporary measure as sailings were blanked in response to falling volumes. In November 2022, liner operators, primarily THE Alliance members, began detouring ships on the Asia-Europe route around the Cape of Good Hope, rather than the usual path through the Suez Canal. Alphaliner ha
FMC imposes nearly US$1 million fine against Wan Hai The Federal Maritime Commission (FMC) has confirmed a fine of US$950,000 against Wan Hai Lines. The Taiwanese box line has also agreed to refund charges in a detention and demurrage case which dates back to 2021. The carrier is accused of violating 46 U.S.C. ' 41102(c) by failing to establish, monitor, and implement just and fair rules and practices concerning the assessment of charges on contain
Is integration strategy one-way street for container carriers? The diversity of services and/or products that a company can provide can help in its financial results, according to Bronson Hsieh, former chairman of Evergreen and Yang Ming, two of the major global container carriers. Focussing on the transportation sector, Hsieh said that any shipping company which has a freight forwarding department or owns a freight forwarding subsidiary can gain profit from
Maersk pilots warehouse automation solution Maersk and BionicHIVE have been working for four months on a pilot designed to assess automation processes that sort, select and put away packages and can navigate warehouse floors using built-in cameras and sensors, moving between people and objects. According to Maersk, this product can climb on the existing warehouse racking to sort, pick and replenish cartons directly to/from any spot in the
PSA seeks bidders for its CK Hutchison stake; China giants among potential buyers Chinese state-owned giants, China Cosco Shipping Corp. and China Merchants Group, seem to be interested in acquiring PSA International Pte's minority stake in Hong Kong's CK Hutchison Holdings Ltd. According to a Bloomberg report, PSA is seeking approximately US$4 billion for its 20% share of CK Hutchison's ports assets, while the company is reported to have already begun early discussions with p
Transpacific capacity correction stronger than on Asia-Europe Asia-Europe capacity correction is not as strong as on Transpacific, according to Danish maritime data analysis company Sea-Intelligence, which reported that unlike on the Transpacific, where weekly scheduled capacity more than two weeks out (relative to the week of departure) was considerably higher than what was eventually deployed, there was no such trend on Asia-Europe. On Asia-North Europe,
Thordon Bearings supports containerised Aloft sail system Thordon Bearings, a designer and manufacturer of journal bearing and seal systems for the marine, renewable energy production, pump, and other industrial sectors, is providing its grease-free, self-lubricating ThorPlas-Blue bearing material to an innovative containerised wind propulsion system that is intended to decrease fuel usage and fossil fuel pollution across all commercial ship types. Acco
Bolloré Transport & Logistics announces new MD for 4PL subsidiary Jérôme Le Grand is the new managing director (MD)of PRISM, a 4PL subsidiary of Bolloré Transport & Logistics, and he will be responsible to develop the company and its network of operational hubs. Le Grand is a former vice president of Aerospace & Defense at Bolloré Logistics. In addition, he boasts 25 years of experience working for major players in the aerospace industry. He has worked within B
TEN cashes in on eight older tankers and fixes LNG carrier for 12 years Tsakos Energy Navigation (TEN) has taken advantage of the busy tanker sale and purchase market, cashing in on some of its older ships while also fixing one of its LNG carriers on a long-term charter in Asia. The New York-listed Greek owner confirmed previous Splash reports that it had sold six 2005-built MRs as well ...
Costamare puts money into Neptune Leasing New York-listed Costamare has agreed to become the leading investor in Neptune Maritime Leasing through an investment of up to $200m. The Jersey-based Neptune Leasing was set up in 2021 by veteran financier Harris Antoniou (pictured) with the Lastis family as anchor investor. The Greek boxship and bulker owner, with a fleet of nearly 120 ...
MSC gets onboard Singapore's decarbonisation drive Mediterranean Shipping Co (MSC) has partnered with the Singapore-based Global Centre for Maritime Decarbonisation (GCMD), committing to a five-year collaboration to accelerate decarbonisation of the shipping sector. As an impact partner, the world's largest containerline will provide cash contribution towards GCMD's pooled resources for pilots and trials. MSC will also take part in projects, allo
BIMCO pushes for 25% e-bills of lading usage across dry bulk sector by 2025 International shipping organisation BIMCO has launched an initiative targeting 25% of annual dry bulk seaborne trades using electronic bills of lading (eBLs) by 2025. The so-called "25 by 25 pledge" is part of an ongoing effort to accelerate trade digitalisation and streamline the supply chain process in the bulk sector. "The wider adoption of electronic ...
Box lull sees change in global container flows The lull in box volumes is resulting in falling congestion and also in changes in container flows as reflected in the Container xChange Container Availability Index. The index, which measures the proportion of weekly import to export flows at ports around the world, shows that the share of imports from the total volumes handled at ...
Torm raids secondhand market, eyes further tonnage Denmark's Torm has announced a purchase of three secondhand MR tankers taking its fleet to 88 vessels on a fully delivered basis and additional bank financing for further growth. The New York and Copenhagen Nasdaq-listed product tanker owner said it had picked up the 2013-built trio in a deal that includes $48.5m in cash and ...
Nearly $5bn needed for ports to scale up UK floating wind Up to 11 ports around the UK will need to be transformed as fast as possible into new industrial hubs to enable the roll-out of floating offshore wind at scale, according to a new report by the Floating Wind Offshore Wind Taskforce. The report projected 34 GW of floating wind installed in UK waters by ...
Stena Bulk: Quietly confident Erik Hånell, the top man at Stena Bulk since 2012, remains as he puts it "quietly confident" that indications are good for this year and beyond, as the disruption of the last few years has taught him and the Swedish tanker player to approach the future with a "measured and even-handed approach". Newbuild contracting in ...
Prime Marine offloads three LRs Stathis Topouzoglou-led Prime Marine, a diverse Greek tanker player, has cashed in on the ongoing upturn, selling a string of LR tankers in the first quarter of the year. Sources tell Splash that fast growing Mumbai owner Gatik Ship Management has snapped up two ice-classed, 74,000 dwt tankers, the River Shiner and Emerald Shiner, both ...
JX Nippon to take over Japan Drilling JX Nippon Oil & Gas Exploration has reached an agreement with the funds related to Aspirant Group to acquire the entire issued share capital of Tokyo-based offshore driller Japan Drilling Company (JDC). The deal, expected to close by the end of April this year, will see Japan's sole offshore driller become a consolidated subsidiary of ...
Jacktel wins Equinor contract Norway's Jacktel has secured a new contract with Equinor for its accommodation jackup . The 2011-built unit will provide services to Draupner in the Norwegian North Sea for 10 months, starting October 2024. The contract is worth approximately $58m including mobilisation and demobilisation and gives Equinor options to extend the charter by up to six ...
Egypt signs major port deals Egypt has mapped out its next generation of ports across the country, signing deals yesterday worth $1.6bn to develop container terminals at Sokhna and Dekheila Hutchison Ports, CMA CGM, and COSCO Shipping have come onboard for a new terminal at Sokhna Port on the Red Sea, while Mediterranean Shipping Company (MSC) will partner with Hutchison ...
Kristin Holth and Marina Hajioannou join the board at Safe Bulkers New York-listed Greek dry bulk owner Safe Bulkers has expanded the size of its board to nine, adding the daughter of the CEO and a well-known name in banking to its ranks. The Polys Hajioannou-led company has added ex-DNB Bank executive Kristin Holth (pictured) as well as Marina Hajioannou to the board. Safe Bulkers currently ...
Wan Hai cops fine from the Federal Maritime Commission Taiwan's Wan Hai Lines has become the latest carrier to feel the wrath of the Federal Maritime Commission (FMC) in Washington DC, copping a $950,000 fine as well as agreeing to refund charges in a detention and demurrage case which dates back to 2021. Wan Hai invoiced a customer at least 21 times in the ...
Japan to California green shipping corridor pact signed in Tokyo The Japanese government has signed a letter of intent with the governor of California to establish a green shipping corridor over the Pacific. The agreement signed between governor Gavin Newsom and the Ministry of Land, Infrastructure, Transport and Tourism of Japan will also look to commercialise zero-emission fuels. "We applaud the newest collaboration between California ...
Canada's Cedar LNG receives environmental approval Canada's first Indigenous majority-owned LNG facility on March 14 received its environmental assessment certificate (EAC) from the British Columbia Environmental Assessment Office. On March 15, it also received a positive decision statement from the federal Minister of Environment and Climate Change. Cedar LNG is a proposed floating LNG facility located on Haisla Nation-owned land in ...
RWE Clean Energy formed in US through acquisition of Con Edison Clean Energy Businesses German multinational energy company RWE has closed its acquisition of all shares in Con Edison Clean Energy Businesses (CEB). New company RWE Clean Energy merges Con Edison CEB with RWE Renewables Americas. With its expanded renewables portfolio of 8 GW of operating assets and a project development pipeline of more than 24 GW, the company ...
DNV recovers from fleet management system ransomware attack DNV announced all users are back online on its dedicated ShipManager servers after the ransomware attack earlier this year. The Norwegian class society said it had to rebuild the server environment following the cybersecurity incident on January 7 and that the work to resume full scope of service is ongoing. Although around 1,000 vessels from ...
Is Credit Suisse crisis a case of déjà vu for shipowners? Half of Credit Suisse's shipping portfolio is lending to the Greek market
TEN confirms renewal moves as it basks in record profits Tsakos Energy Navigation's renewal in full swing: Eight tankers out, eight on order
ABS affiliate in partnership with Marlink on digital transformation ABS Wavesight and Marlink agree to collaborate on expediting digital transformation among shared client base
Genco chief on acquisition trail Following two years of outstanding earnings, company is exploring the potential to grow through a merger or large fleet acquisition...
Eighth capesize bulker sold for recycling Eight capesize bulk carriers have been sold for scrap so far this year compared with 14 units recycled during the...
EU to set up hydrogen bank under Net-Zero Industry Act The EU has launched the Net-Zero Industry Act to help boost local technology production to contribute to its climate goals...
Supply chain must collaborate on lithium-ion battery risk Batteries found in everything from watches to electric vehicles pose a high risk of severe consequences if they catch fire...
Torm adds to fleet after record earnings The company is aiming towards an earnings before interest, tax, depreciation and amortisation of $750m-$1.1bn this year as the strong...
Oil prices drop to 15-month low amid bank concerns Sharp sell-off in crude oil futures also weighed on bunker fuel prices amid expectations of higher supply in fuel oil...
Costamare becomes major investor in Neptune Maritime Leasing Latsis shipping family also upping its investment in Neptune
Questions over grain deal's extension as deadline approaches While the agreement stipulates the deal will be extended at intervals of 120 days, Russia has reportedly proposed the deal...
Wan Hai reports loss amid weak freight rates Wan Hai said currency fluctuations and poor freight markets contributed to quarterly loss
Matson plans LNG conversion of third boxship Company also plans to replace the main engine of a 2,800 teu boxships with a dual-fuel engine
Cosco and Hutchison Ports invest in Egyptian terminal Hutchison Ports' investment in Egypt will now be boosted to $1.5bn
Over 100 falsely flagged ships are trading in plain sight The problem of falsely flagged ships linked to fraudulent registries is not new, but it is growing and governments have...
MSC teams with GCMD to push shipping's decarbonisation The Global Centre for Maritime Decarbonisation and MSC have signed a five-year partnership agreement to decarbonise shipping
Shell approves Gulf of Mexico oil field development Offshore oil field expected to produce up to 21,000 barrels per day of oil equivalent per day at peak rates...
Daily Briefing Russia's bulk exports to Europe drop 60% | Sanctions take toll on Russian oil exports and revenue, says IEA |...
US draft legislation seeks to update OSRA-22, boost China scrutiny The bill would heighten transparency into regulatory penalties levied against ocean carriers and marine terminal operators and draw a sharp line on the involvement of China-based entities in US shipping.
CP-KCS could benefit from rising tide of cross-border freight from Mexico The combined railroad has an opportunity to divert more than 64,000 truck shipments to intermodal rail, according to S&P Global, but that's only the crest of a wave of US imports from Mexico.
Shipper group wants more FMC action on dwell fees, ERDs An advisory group created by the FMC two years ago is pushing the agency to act on several key issues, but some members have expressed frustration over the response from regulators.
As European recession fears fade, hopes build for restocking surge The European consumer goods and retail sectors are steadily working their way through excess inventory piled up at warehouses, with growing expectations of a second-half return of demand.
MSC makes moves to upsize, launch standalone services The 2M Alliance has closed one of its six Asia-North Europe services as MSC prepares for a wave of megaship capacity to be delivered in the next two months.
Shipwell arms 'underserved' smaller shippers with automated bidding tool Shippers that often use spreadsheets and small transportation teams to bid and execute freight shipments are the target of a new software tool from technology provider Shipwell.
Investors hammer Tsakos Energy Navigation stock on ATM disclosure Jefferies analyst chides cash-rich owner for resorting to shares sales that encourage trading discount to tanker peers
MSC dragged into first-ever US regulatory dispute over $1,000 charge Federal Maritime Commission flexing new muscles in looking into charges levied on shippers
Seabourn sells oldest cruise ship to Mitsui OSK Lines Sale to Japanese shipowner comes as Seabourn plans to take delivery of newbuilding in the summer
China and India switch away from Russian oil may have prompted VLCC rally Lorentzen & Co and International Energy Agency suggest the two countries could be uncomfortable with their levels of Russian imports
Crew member killed as MISC FSO hit by water ingress Malaysian storage vessel suffered seal malfunction 207 km off Sattahip, Thailand
'Over-reliance on automated routeing could lead to sinkings' warns weather forecaster Unchecked AI-based forecasting could lead to a disaster like the El Faro sinking, claims Weathernews executive Jesse Vecchione
Niels Stolt-Nielsen staying on for now as hunt for successor enters second year Transition was always going to take time, tanker group's boss says
Tsakos Energy marks 20th NYSE birthday with big record profit The Greek owner is optimistic that the tanker bonanza is here to stay
Pyxis boss Valentis says high tanker prices making expansion 'challenging' Greek owner will bide its time before entering secondhand market
Shell performed 250 ship-to-ship LNG bunkering operations in 2022 Company's LNG imports to Europe were almost five times higher last year, its energy transition report reveals
US crude prices: VLCC rates set fair on world's longest route Analysts believe new global oil demand forecast could keep long-haul cargoes flowing from the US to China
Streetwise: Burned investors hit back at Maxim-linked shipowners' serial dilution This week's shipping finance newsletter takes a look at investor backlash against several public shipowners who have repeatedly sold equity through the Maxim Group, spurring significant losses
Heavylift specialist Mammoet put up for sale by Dutch owners Dutch conglomerate SHV says new owners are needed to enable the company grow
UK tonnage tax window swings open for first time in 18 years Government allows owners who left regime to return
Heavylift specialist Mammoet put up for sale by Dutch owners Dutch conglomerate SHV says new owners are needed to enable the company grow
Shell performed 250 LNG ship-to-ship LNG bunkering operations in 2022 Company's LNG imports to Europe were almost five times higher last year, its energy transition report reveals
Credit Suisse saved for now, but what future as the biggest lender to Greek shipping? Will it retreat or double down? Swiss banking giant's travails leave market guessing
Shipowners pile into methane abatement in maritime group New group doubles its membership as it limbers up for trials of new methane measurement technology on ships
Older tankers trading for longer? SSY says it's a possibility Although ordering is outpacing last year, it is all replacement tonnage, shipbroker says
MR rates jump 40% across the Atlantic as ships leave for greener pastures Tonnage has been drawn away from Europe, leaving a tighter supply this week
Sanctions balancing act leaves shipping hamstrung as the US pulls levers Washington says sanctions have slowed the Russian war machine but crude and products cargoes must keep moving
Torm eyes $1bn profit for 2023 as tanker rates rocket Shipowner also reveals 'whopping' dividend of $212m in record fourth quarter
World's biggest container ship MSC Irina enters service Delivery comes as weak demand leads 2M partners to ditch a major Asia-Europe service
Torm lines up more secondhand buys as it fixes financing of $556m Fresh from adding 10 tankers this year, Danish owner has the financial power for more
MR feeding frenzy continues as Torm snaps up tankers for $97m Danish owner adds three 2013-built vessels built in South Korea
Hutchison Ports expands footprint in Egypt with $700m investment Hong Kong-based terminal operator takes spending in the nation to $1.5bn
MSC throws weight behind Singapore-based GCMD Swiss liner giant to provide cash and vessel access as part of five-year partnership with Lynn Loo-led organisation
Volvo spin-off PowerCell has big ambitions for fuel cell-powered ships Swedish fuel-cell developer sees synergy from aviation and road development fast forwarding the scale-up of marine propulsion after Norway ferry deal
European shipping still vital to moving Russian oil, tracking data shows Greek operators remain key to hauling Russian oil after several rounds of sanctions and price caps
Marlink and ABS Wavesight to team up delivering software to ships Unique partnership is becoming possible as costs of connectivity fall
NEOT and Terntank extend decade-long decarbonisation journey with latest charters Two Scandinavian companies build on decade-long relationship to decarbonise shipping
FedEx readjusts air network again amid sharp volume declines FedEx Express is aggressively scaling back air operations to save money as shipping demand crumbles.
Could future supply chain crisis hit diesel shipping, not containers? Tanker capacity for diesel is already tight amid war fallout. With very few ships on order, future transport capacity could fall short.
Air cargo market may not improve even if economy does A multitude of mixed economic signals make it difficult to predict a recovery in air cargo business this year. Even if global trade picks up, the lion's share of shipments will go by ocean.
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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