VIDEO: Colombian Navy intercepts largest narco sub yet A U.S. court may have just sentenced Colombia's "Prince of the Semisubmersibles" to a hefty prison term, but that doesn't mean that the narco sub problem has gone away. On May 12,
Vard wins contract for two battery-hybrid, methanol-ready CSOVs Fincantieri's Norwegian-based Vard subsidiary has booked an order from U.K. based Purus Wind for the design and construction of two battery-hybrid, methanol-ready CSOVs (commissioning service operation vessels). The agreement includes an option
Gunderson Marine has new ownership The Greenbrier Companies, Inc. (NYSE: GBX) reports that it has completed the sale of its Gunderson Marine operations to Oregon Green Manufacturing, LLC (OGM). Gunderson Marine operates within a 58-acre industrial waterfront
Hugo De Stoop steps down as Euronav CEO Just one day ahead of the company's May 17 annual meeting, the Supervisory Board of Euronav NV (NYSE: EURN) has announced the departure of its CEO Hugo De Stoop with "immediate effect
Fremantle Ports and Japan to strengthen their trade relations Both Australia's Fremantle Ports and Japan seek opportunities to enhance their collaboration and expand their trade relationship. Fremantle Ports CEO Michael Parker and general manager for strategy, planning and performance Sami Zouad welcomed consul general of Japan to Western Australia Yasushi Naito, and consul Naoki Semmyo, to celebrate 40 years of partnership with the Nagoya Port Authority an
Pilbara Ports report lower cargo volumes in April Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes for April 2023, representing a slight 2% decline compared to the same month in the previous year. The Port of Port Hedland achieved a monthly throughput of 43.8 million tonnes, of which 43.3 million tonnes were iron ore exports, translating to a 5% decrease compared to April 2022. Imports through the Aus
New warehouse was built at Muuga Harbour in Estonia A new 9,500 m² complex warehouse was opened at Muuga Harbour in Estonia, consisting of a bulk warehouse surrounded by concrete walls and a PVC-covered warehouse for packaged goods. In particular, terminal operator PK Terminal OÜ signed a long-term contract with fertilizer producer Yara for the handling and storage of safe fertilisers. Additionally, PK Terminal started offering fertiliser packagin
AD Ports Group reports strong Q1 financial results AD Ports Group recorded improved financial results for the first quarter of 2023, in continuation of full-year 2022 strong performance. In particular, the Group's revenue grew 73% year-on-year, to US$495 million in the first quarter of 2023. Additionally, the company's earnings before interest, taxes, depreciation, and amortisation, (EBITDA) increased by 33% year-on-year reaching US$190 million.
Wan Hai Lines names another panamax boxship Wan Hai Lines held a ship naming ceremony for Wan Hai 363 at Japan Marine United Corporation KURE Shipyard. Taiwan's major ocean carrier has placed an order for twelve 3,013 TEU container ships at Japan Marine United Corporation KURE Shipyard, and Wan Hai 363 is the 12th vessel in the series. During the event, Yoko Kaburagi, director and vice president of Sojitz Logistics Corporation, christened
Bolloré Logistics Delhi receives first commercial electric vehicle in India In order to provide its customers with solutions that reduce global CO2 emissions, the Bolloré Logistics agency in Delhi has received its first electric vehicle, which is especially suitable for last-mile delivery due to its high mobility and low carbon footprint. "Our goal at Bolloré Logistics India is to facilitate the transition to zero carbon emissions for a more sustainable and reliable mode
Port Houston sees container export rise amid import softening Container exports from Port Houston continue to exceed the previous year's figures with loaded exports being up 17% year-on-year, driven mainly by increased demand for resin exports. Through April, Port Houston handled 1,026,260 loaded TEUs, breaking the million-TEU barrier earlier than ever before. Import container traffic was predicted to decline this year compared to the record-breaking number
New CEOs at Maersk Tankers and Maersk Supply Service Tina Revsbech will be the new chief executive officer (CEO) of Maersk Tankers, replacing Christian M. Ingerslev, who will take over the role of CEO at Maersk Supply Service. Previously, Tina Revsbech has worked as executive vice president at Fednav Limited, CEO at BW Tankers and senior vice president at Torm. Earlier in her career, Tina Revsbech worked for more than 15 years for Maersk Tankers as
United Airlines and DB Schenker sign deal to cut carbon emissions United Airlines and DB Schenker have signed an agreement to minimise CO2 emissions throughout the supply chain industry. DB Schenker has joined United Airlines' Eco-Skies Alliance, which brings together some of the leading global corporations to accelerate solutions that can help decarbonise the aviation sector. Sustainable aviation fuel (SAF) is currently the most scalable option available to de
Marino Group opens new container depot in Alabama Marino Group has announced the opening of a new container depot of around 140,000 m² in Alabama, US to meet the demands of the container and intermodal traffic through the port of Mobile and the US Gulf. Container maintenance and repair, loaded and empty container storage, warehousing, chassis start-stop and repairs, grounded temperature-controlled unit pre-trips, and genset rental programmes are
Fun Facts About Ocean Freight Ocean freight is the reliable method used to ship goods across oceans and seas, connecting countries and continents. Whether it's the latest tech gadget or the freshest produce, ocean freight is responsible for delivering a wide range of products to consumers worldwide. Ships loaded with cargo crisscross the seas, delivering goods from one port to another. While it might seem like an ordinary pro
Cyclone Mocha forces 60-hour operation closure at Chittagong port The operations at the Chittagong port, Bangladesh's prime seaport, had remained suspended over two days as the super cyclone Mocha approached and crossed the country on Sunday, 15 May. The port authority had declared suspension of works on Friday night after Bangladesh Met office issued danger signal-8 for Chittagong Port, great danger signal 10 for Cox's Bazar port, great danger signal-8 for Pay
Purus Wind signs for up to four CSOV newbuilds at Vard Purus Wind, the UK-based offshore wind business of Purus Marine, has contracted Fincantieri-controlled Norwegian shipbuilder Vard for the construction of up to four commissioning service operation vessels (CSOVs). The contract covers two firm vessels set to deliver in the second quarters of 2025 and 2026 with an option for two additional units. The hull of ...
D'amico continues purchase spree with another MR deal Italian owner d'Amico International Shipping has exercised its third purchase option this month taking back ownership of yet another bareboat chartered-in MR product tanker. The Milan-listed firm is buying back the 2015-built for $21.4m, a 50,000 dwt ship currently estimated as worth nearly $39m by online pricing platform VesselsValue. D'Amico sold and leased back the ...
Wind turbine maker Siemens Gamesa taps deugro and Amasus for pair of newbuilds in China Wind turbine maker Siemens Gamesa has teamed up with project freight forwarder deugro and Dutch-based Amasus Offshore to build two newly designed vessels customised for transporting offshore wind turbine components. Siemens Gamesa and deugro have sealed a long-term charter deal for the pair that will be built at Jiangsu Zhenjiang Shipyard in China, with deliveries scheduled ...
Sweden green lights two offshore wind projects The Swedish government has approved two offshore wind projects off the country's west coast that will see around 100 turbines installed, totalling 1.6 GW of capacity. Domestic developer and state-owned utility Vattenfall has secured the green light for its 1.2 GW Kattegat Syd offshore wind farm, while its fellow counterpart OX2 has been granted rights ...
Germany's Mabanaft signs up for Australian green methanol Australian renewable energy company Vast has executed a letter of intent with Hamburg-based fuels trader Mabanaft for potential offtake and equity investment in a green methanol demonstration plant called Solar Methanol 1 (SM1). Vast is developing the SM1 project in Port Augusta, South Australia which will deliver up to 7,500 tonnes per annum of green ...
Eneti's Seajacks lines up Asia Pacific contract Offshore wind support vessel owner Eneti has announced a new potential contract win in the Asia Pacific region for its subsidiary Seajacks. Seajacks has penned a reservation agreement with an undisclosed client for the utilisation of its 2012-built self-propelled jackup vessels between five and six months. The Monaco-based Eneti said the contract if executed, would ...
French wind propulsion technology takes the next step forward French wind propulsion developer Airseas has taken significant advances toward the industrialisation of its automated kite system Seawing with the successful confirmation of traction flights on Louis Dreyfus Armateurs' roro . "Airseas has now demonstrated that the wind propulsion system is working as planned, providing its first tonnes of traction that will help reduce the ...
Neptune Energy hands out $100m drilling support contract London-headquartered operator Neptune Energy has awarded a contract worth more than $100m to fabricator Tenaris to provide equipment and services in support of drilling activities on the Norwegian Continental Shelf. The contract covers the manufacture, transport, handling and repair of a broad range of casing materials used in offshore drilling. Initial work will include support ...
Tanker orders pick up Having slumped to generational lows, the tanker orderbook is finally building up, but analysts remain convinced the sector is still poised to enjoy a lengthy earnings bonanza. Tanker newbuilding orders have risen by 250% year-on-year from 24 in the first four months of 2022, to 85 so far in 2023, according to data from VesselsValue. ...
Solstad fixes CSV to Prysmian for seven years Oslo-listed OSV owner and operator Solstad Offshore has secured a new long-term contract with Italian cabling giant Prysmian for its construction support vessel . The contract is for seven years, expiring end-December 2030, but also gives Prysmian multiple multi-year options to keep the 2010-built CSV beyond the firm period. The vessel has been on charter ...
AD Ports to form NVOCC Dubai-listed logistics company Aramex has signed a joint venture agreement with Abu Dhabi's fast expanding AD Ports Group to create a non-vessel owning common carrier (NVOCC). The new entity, in which Aramex will have a 49% stake, will provide ocean-bound container cargo services, with a target of 10,000 containers in the short-term, with further growth ...
Hugo De Stoop steps down as Euronav CEO Hugo De Stoop has resigned from his position of chief executive officer at Belgian tanker owner Euronav with immediate effect. Euronav said De Stoop's departure is the result of a mutual agreement and that the majority of its supervisory board supported this decision. He will be available to the company as a senior advisor until ...
Norwegian sailor sentenced in tanker collision case A Norwegian watch officer was found guilty yesterday and sentenced to a two-month suspended jail sentence for negligence leading up to a collision between a warship he navigated and a Tsakos aframax tanker in which the military vessel sank. The defendant was the officer in charge on the bridge of the naval ship at the ...
Zodiac Maritime adds more car carriers at CIMC Raffles Eyal Ofer's Zodiac Maritime has recently increased its car carrier orderbook at CIMC Raffles in China by an additional two units bringing it to a total of 10 firm 7,000 ceu LNG dual fuel vessels at an estimated price of around $92.5m per unit. Brokers indicate that these were not optional vessels but instead a ...
Euroseas posts strong profit despite reduced charter rates Charterers apparently believe feeders will be in short supply, says Euroseas chief executive
Trade route launched between occupied Mariupol and Russia A new operation run by RosKapStroy will see 6,000 tonnes of building materials delivered to the port of Mariupol in...
IEA revises up oil demand on China recovery Paris-based agency expects that demand will eclipse supply by almost 2m barrels per day in the second half of 2023
Bulk carrier values sustained by low fleet growth 'Tonnage availability for sale is lower today as Japan, the natural seller of tonnage, readjusts its shipowning model and provides...
Seafarer well-being key amid looming crew shortage, say Asian shipowners ASA urges stakeholders to take action to improve seafarers' working conditions and competency, while also calling for measures to tackle piracy and...
Green fuels face costly development challenges Green synthetic fuels offer a path to remove carbon emissions from shipping. But the poor physics and economics of these...
Port of Long Beach chief expects slow growth in second half of 2023 Cargo diversions and softening consumer demand drive April volumes at the port of Long Beach down by 20% on last...
Time running out for Hong Kong Convention on ship recycling ahead of ratification deadline Failure to bring the HKC into effect could cause big problems with demolition demand predicted to surge amid tightening international...
Danaos seals two more boxship orders as first-quarter profits hold strong Greece-based owner announces impending retirement of chief operating officer as well as new senior appointments
ABS expects Carbon Intensity Indicator amendments from MEPC 80 Classification society ABS expects the IMO to make the necessary changes in London in less than two months, as some...
Golden Ocean swings to first-quarter loss but outlook positive John Fredriksen's dry bulk company says demand is increasing and vessel supply is low, which will lead to higher utilisation...
Skuld and West of England both back in black Marine mutuals see the benefit of double-digit general increases, fall in Covid-related claims and limited number of pool claims
Euronav battle continues as CEO De Stoop exits Tanker giant Euronav is looking for more than a new chief executive - it needs to confirm its long-term strategy...
Forth Ports sets decarbonisation targets Electrification and use of new fuels will help achieve in-house targets. Scope 3 emissions will require collaboration across supply chains
MEPC urged to relocate Sri Lanka TSS to protect whales The waters just south of Sri Lanka are among the busiest in the world. But the separation scheme used to...
Okeanis eyes US listing as first-quarter profits jump Larger US investor base seen as able to 'unlock value' for shares in Okeanis, that is listed in Oslo
Wallem banks on 120-year experience to tackle modern challenges Wallem chief executive John-Kaare Aune shares with Lloyd's List the firm's approach to tackling pertinent issues such as crew management...
Daily Briefing Doubling of machinery failures since 2012 leads casualty trend analysis | Fragmented regulation now a top risk for shipping |...
Hugo De Stoop steps down as Euronav CEO Belgian tanker giant announces a major leadership shift 24 hours before its AGM is expected to reveal the company's strategic...
BNSF to launch new Houston intermodal service in June The railroad will start a twice-weekly service to Dallas and once-weekly service to Denver, but no ocean carrier as yet is offering inland moves from Houston.
Asia import volumes jumped in April as US shippers navigated GRIs Asian imports into the US reached their highest level since October 2022 as freight rates rose, but further import gains look unlikely as shippers take a wait-and-see approach to consumer demand.
Ørsted to break ground on methanol plant to tackle shipping demand When operational in 2025, a plant in Sweden will be able to produce 50,000 tons of green methanol annually for the shipping industry, making it Europe's largest methanol plant.
Top US Shippers: Plastic resin exports bounce back as supply chain pressures ease US exports of plastic resins rebounded in 2022 after an uncharacteristic decline in 2021, but increased production in China and an uncertain global economy could dampen demand this year.
Capesize bulker spot market falls while futures give hope 'There has been a distinct lack of activity in the North Atlantic,' Baltic Exchange analysts say
Flex LNG upbeat on competing with pricey 2027-delivering newbuildings Company prefers paying out dividends and fixing ships to ordering vessels at current high prices
Total comeback: Danaos Corp will soon be net debt-free Barely five years after drowning in debt, container ship owner is about to get rid of it
West P&I promotes seafarer mental wellbeing during awareness week Engine officers and the young most likely to suffer from problems, insurer warns
Euroseas defends profitability on the back of long-term charters Aristides Pittas-led company now focuses on newbuilding deliveries and serving its current charters
Deugro teams up with Siemens and Amasus to order newbuild brace in China Ro-ro vessels built in China will be configured for transporting offshore wind-turbine components
DNB's Jan Ole Huseby says there is a financing gap between ambition and reality Norwegian banker says lenders must help bridge the divide on the road to decarbonisation
US rejects IMC rat-killing bill from 2004 Selendang Ayu casualty IMC Shipping and the US Coast Guard are in court fighting over the clean-up after a deadly 2004 disaster - including a plan to kill all the rats on a volcanic 'rat island'
Western revival sees VLCC rates rally as Hellenic Tankers and Trafigura fix ships Consistent activity encourages owners to hold out for better rates
'Patient' SFL boss Ole Hjertaker explains where shipping's smart money is going CEO runs the rule over potential investments in tankers, bulkers and container ships
Analysis: Is Iran seizing tankers to settle legal scores? After 28 vessel seizures by Iran, the latest instances are tied to legal disputes
Italian newcomer Kalypso quits transatlantic trade after freight rate fall Lines recoil from Atlantic but continue to pile ships into other east-west trades
Uncertainty over fuels risks green targets, ICS warns in new barometer report Shipping industry's understanding of the issues is growing, but delays in government decision-making will have far-reaching consequences for shipping
Heidmar hires Stelios Landrakis to kick-start Athens S&P desk Pool operator will work with S&P brokers from other firms - not against them, explains CEO Pankaj Khanna
Eneti eyes up to $41m in new revenue from existing WTIV unit Employment would begin in second quarter of 2024 at rates comparable to newer, larger units as wind market heats up
Pool operator Heidmar hires Stelios Landrakis to kick-start Athens S&P desk New Heidmar operation is to work with S&P brokers from other firms - not against them, explains CEO Pankaj Khanna
Tanker golden age set to run until 2027, says BRS Refinery realignment and long-term changes will keep tankers ahead of other shipping sectors in coming years
West P&I earns underwriting surplus as claims dip Fall in International Group pool claims helps bring it back into the black
States urge crackdown on Russian ship-to-ship transfers off Europe Major drop-off in activity reported at STS zones off Greece and Spanish territory in latest change to Russian oil trade
EU states urge crackdown on Russian ship-to-ship transfers off Europe Major drop-off in activity reported at STS zones off Greece and Spanish territory in latest change to Russian oil trade
Ceyhan crude exports could flow again as Gibson highlights dangers of oil transits Iraq and Kurdish authorities want Turkey to start Mediterranean exports again
SFL's Ole Hjertaker 'happy to entertain' offers for remaining spot bulkers Supramaxes are not on sales list, but everything has a price, CEO says
Anglo & Eastern P&I Club goes offline amid Pablo talk Search for the insurer behind the ill-fated Gabon-registered aframax tanker goes on
EU's top diplomat calls for fundamental shift in Russian oil trade rules Josep Borrell is uncomfortable with the high level of imports of Indian oil products that originated in Russia
Russia fails to deliver oil production cuts as exports climb Exports increase to highest level since invasion of Ukraine as traders and refiners are lured by continuing deep discounts
High-interest costs hit Flex LNG's first-quarter figures Two down, two to go in 2023 for scheduled first dry-dockings for 13-ship fleet with CEO Oystein Kalleklev ever-bullish
'The trust had gone,' says Hugo De Stoop as he explains Euronav exit Belgian boss explains decision to leave was natural as tanker owner looks to the future
Mothballed Subic shipyard could soon be back to work Facilities have been out of work for almost four years at former Hanjin Heavy Industries & Construction Philippines
Danaos C-suite reshuffle as Prokopakis retires as chief operating officer Dimitris Vastarouchas to take over as COO, while Filippos Prokopakis becomes chief commercial officer
Thoresen Thai upbeat for rest of the year despite weak first quarter Thai bulker and offshore owner confident of improving dry bulk and offshore markets
Pyxis Tankers posts record profit amid strong markets and ship sale Valentios Valentis-led MR owner says is waiting 'patiently' to expand again
Golden Ocean posts loss as weak first-quarter market makes its mark But bulker owner is still paying dividends to shareholders and believes stronger markets are on the way
Fredriksen-Saverys battle for Euronav claims scalp of Hugo De Stoop Belgian executive steps down as CEO by mutual agreement as future of company still in question, CFO Lieve Logghe steps in
Danaos C-suite reshuffle as Iraklis Prokopakis retires as chief operating officer Dimitris Vastarouchas to take over as COO while Filippos Prokopakis becomes chief commercial officer
Hugo De Stoop leaves Euronav with immediate effect Belgian executive steps down by mutual agreement as future of company still in question
Italy's Premuda weighs future direction after sale of product tanker pair Merger not ruled out as tanker fleet attracts interest from strategic players
Seatrium's 'green' pivot takes order backlog to over $15bn Singapore group says renewables sector now accounts for close to 40% of its orderbook
Iraklis Prokopakis retires as Danaos chief operating officer as two appointments named Dimitris Vastarouchas to take over as COO while Filippos Prokopakis becomes chief commercial officer
Eyal Ofer-controlled Zodiac Maritime lifts PCTC tally at CIMC Raffles to 10 Latest two newbuildings were ordered without firm contracts
Seatrium's 'green' pivot takes order backlog to over $15bn Singapore group says renewables sector now accounts for close to 40% of its orderbook
J-ENG begins engine tests for zero emission ships World's first tests on ammonia and hydrogen engine technology as shipping bids to decarbonise by 2050
Scrap scene 'sluggish' but Evergreen agrees deal to torch 25-year-old ship Nova Shipping and Anhui Haohang also linked to recycling deals in muted market
Danaos earnings fall without gains from Zim investment New York-listed shipowner has 97% contract cover for this year and 73% cover for next year
Sichuan Airlines accepts 1st A330 converted in China for cargo Airbus has reached another milestone with its young A330 passenger-to-freighter program.
COVID boom not over yet for 'landlords' of shipping lines Outsize profits are still flowing to companies like Danaos and Costamare that lease ships to container lines.
WestJet pilot lockout would halt new all-cargo operation WestJet Cargo finally got airborne last month after nearly a year of unexpected delays and now faces a shutdown by week's end because of a labor dispute.
Amerijet, pilots reach tentative labor agreement Amerijet, a mid-tier cargo airline with growth ambitions, has struck a tentative deal with pilots for a new contract.
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