Schulte ship first to use Ukraine's "temporary corridor" The first vessel to use the "temporary corridor" from Ukrainian ports announced on August 10, is the 2013-built Hong Kong-flagged containership Joseph Schulte. Ukraine's Ministry for Reconstruction announced this morning that the
BOEM identifies two Oregon draft WEAs Opening the path to a potential major floating offshore wind development, the Bureau of Ocean Energy Management (BOEM) yesterday identified two draft Wind Energy Areas (WEAs) off the coast of Oregon and
Vigor wins $150 million WSF hybrid-electric conversion contract Moving ahead on its ambitious electrification program, Washington State Ferries (WSF) has awarded Vigor a shipyard contract for the conversion of up to three Jumbo Mark II-class ferries to hybrid-electric power. As
White Paper: How to Harness the Power of Employee Engagement to Create a Safer Workplace Workplace studies have shown that employees who feel engaged and empowered are more likely to go above and beyond in their performance, have higher job satisfaction, and stay loyal for longer than
MSC revises port rotation of its Far East - US service The world's largest box carrier MSC has decided to change the port rotation of its Santana service, which connects the Far East with the United States. The revised port rotation of the service will be as follows: Laem Chabang (Thailand) - Vung Tau (Vietnam) - Ningbo (China) - Shanghai (China) - Busan (South Korea) - Manzanillo (Mexico) - Cristobal (Panama) - Caucedo (Dominican Republic) - New Yor
ZIM reports Q2 net loss of more than US$210 million Ocean carriers continue to return to normal financial figures this year. This "normalisation", combined with the astronomical results of the previous year, shows some huge year-on-year declines in shipping lines' performance so far in 2023. ZIM is not an exception reporting an 87% drop in its Q2 adjusted EBITDA at US$275 million and a 62% decrease in its Q2 revenues at US$1.31 billion. In the sam
Upward trend for North America East Coast laden imports Annualised growth (vs 2019, the last pre-pandemic year) of laden imports has picked up the pace again, with 2023-Q2 averaging at 2.7%, according to the latest Sea-Intelligence report. "The reason we use annualised growth, rather than a 'normal' Y/Y change, is to be mindful of the fact that looking at the Y/Y growth during the pandemic period can be misleading, because the comparison period was a
CMA CGM, Maersk add Brazilian port to Med - East Coast South America service Maersk and CMA CGM have decided to extend the coverage of their Bossa Nova/SIRIUS service, connecting the Mediterranean to the East Coast of South America, adding a new call in the Brazilian port of Rio de Janeiro on its southbound leg. The 8,700 TEU container vessel Maersk Lota will be deployed on the first updated port rotation with an estimated time of arrival (ETA) at the port of Rio de Janei
MSC junks India-US rate push as market stays soft despite peak season expectations Mediterranean Shipping Co. (MSC) has cancelled rate increase activity that was to have begun on 15 August on the India-US trade lane. The previously-published trade notices announced a US$500 per container hike each in the form of peak season surcharges (PSS) and general rate increases (GRI) for shipments from India to the US (all coasts) and San Juan (Puerto Rico). The Geneva-based carrier had s
Blanked sailings now the norm Blanked Asia-Europe sailings have become expected in liner operators' routines, according to Alphaliner's latest report today (16 August). Record newbuilding deliveries have made operators reduce sailings to manage capacity and THE Alliance has the largest percentage of skipped schedules. THE Alliance has blanked just over 10 of its sailings, translating to nearly 20% of sailings that have been s
Wan Hai's service returns to Mindanao Container Terminal Mindanao Container Terminal (MCT), International Container Terminal Services, Inc.'s (ICTSI) container facility in Cagayan de Oro, Philippines, recently welcomed the return of Wan Hai Lines' Mindanao - Hong Kong - Taiwan (MHT) service. The MHT service resumed calls to MCT on 3 August, marked by the arrival of the 2000-built, 1,660 TEU Wan Hai 231. The weekly service of the Taiwanese ocean carrier
AD Ports reports strong financial figures in second quarter AD Ports Group announced its financial results for the second quarter of 2023, reporting revenue growth of 66% year-on-year to US$570,000. This significant increase was driven by volume growth in key sectors, business diversification as well as local, regional, and international expansion both organically and through merges and acquisitions, said the company. Additionally, AD Ports Group Q2 2023
Container volume shrinks in Long Beach Port of Long Beach (POLB) said that adjusted trade routes, full warehouses and a shift in consumer spending to travel, entertainment and other experiences caused a significant drop in July container volumes. The Californian port handled 578,249 TEUs last month, translating to a 26.4% decrease over the record July 2022. In particular, imports declined 27.9% to 271,086 TEUs, exports decreased 17.6%
Evergreen acquires minority stake in Rotterdam terminal One of the major container shipping companies in Taiwan, Evergreen has reportedly acquired a 20% stake in the Euromax terminal of Rotterdam port in the Netherlands. According to Alphaliner, the Hong Kong-based port operator Hutchison Ports seems to have sold the stake to the Taiwanese company for approximately €72.5 million (US$79 million). The Chinese shipping giant COSCO also holds shares in th
Evergreen inaugurates new container terminal at Taiwan's Kaohsiung Port Evergreen Marine Corp. (EMC) held an official opening ceremony for the newly built Terminal 7 at Kaohsiung Port on 14 August. The Taiwanese ocean carrier worked closely with Taiwan International Ports Corporation (TIPC) to develop the new box terminal. The facility is one of the most important projects that Taiwan's shipping industry has undertaken in recent years, according to Evergreen, which i
AD Ports and Semurg ink agreement for grain terminal in Kazakhstan's port AD Ports Group has signed a Heads of Terms (HoT) agreement with SEMURG INVEST LLP (Semurg), the owner and developer of Sarzha Multifunctional Marine Terminal in Kuryk Port in Kazakhstan, to potentially invest in the grain terminal of the port. Under the terms of the agreement, the two companies would form a joint venture to invest, operate and develop the Sarzha terminal into a multipurpose one.
CNC introduces new Bay Bengal service CMA CGM-owned intra-Asia short sea specialist CNC has announced a new Bay Bengal Express 6 (BBX6) service which will connect the ports of Bangladesh, Malaysia, Vietnam and China. The first sailing of the BBX6 service is expected on 22 August and the new service will have the following port rotation: Qingdao (China) - Shanghai (China) - Ho Chi Minh City (Vietnam)- Port Klang (Malaysia) - Chittagon
Falling steel prices reveal glut of demolitions to come The declining price of steel prices are a barometer for the rise in demolitions in the container shipping sector according to Braemar, the London-based shipbroker. Given that scrapping prices were at a high in March 2022, at US$685ldt, as vessels delivered for demolition fell to a measly four ship
BW Offshore and Dyna-Mac eyeing opportunities in carbon capture and storage BW Group's Oslo-listed floater specialist, BW Offshore, has teamed up with Singapore-based fabricator Dyna-Mac to jointly pursue carbon capture and storage (CCS) projects. The collaboration between the FPSO topside module maker and Andreas Sohmen-Pao's owner of six FPSO vessels is expected to leverage both parties' expertise in the oil and gas industry to expand into ...
Flex LNG secures Cheniere charter extension John Fredriksen-backed Flex LNG has sealed a 200-day charter extension with Cheniere Marketing International for one of its liquefied natural gas carriers. The subsidiary of US LNG-producing giant Cheniere Energy has exercised its option to keep the 2021-built 174,000 cu m until the second quarter of 2031, after fixing the vessel to the fourth quarter ...
US selects two draft floating wind areas offshore Oregon The Bureau of Ocean Energy Management (BOEM) has identified two draft wind energy areas (WEAs) off the coast of Oregon. The draft WEAs cover around 219,568 acres offshore southern Oregon with their closest points ranging from 18 to 32 miles off the coast. The two areas will tap up to 2.6 GW of Oregon's potential. ...
OX2 receives permit for 1,5 GW Triton offshore wind farm Stockholm-based developer OX2 and Ikea owner Ingka Investments have received a Natura 2000 permit for the Triton offshore wind farm offshore Sweden. In June, Sweden's County Administrative Board finalized their handling by suggesting to the government to grant Triton a permit according to the Act on Sweden's Exclusive Economic Zone. If the government gives the ...
Wood scores more Woodside work UK consulting and engineering firm Wood has been awarded a contract extension by Woodside to support ongoing operations of the North West Shelf project in Australia. The contract extension, until October 2025, covers brownfield engineering, procurement, and construction management. Wood has also been selected by Woodside to deliver the front-end engineering design (FEED) for the ...
Hong Kong-flagged boxship the first to break out of Odesa The , a 10-year-old, 9,400 teu boxship, will be today's most watched ship via multiple vessel tracking sites as it becomes the first ship to trial Ukraine's recently announced 'humanitarian corridor' to allow the many international ships stranded since war began in February 2022. "A first vessel used the temporary corridor for merchant ships to/from ...
German steelmaker Salzgitter teams with HGK to increase inland shipments Germany's HGK Shipping, one of Europe's top inland shipping names and compatriot Salzgitter, the country's second-largest steelmaker, have combined forces to promote and develop low-emission logistics chains for inland waterways and "establish them as the norm". HGK and two subsidiaries of Salzgitter - Salzgitter Flachstahl and DEUMU-Deutsche Erz- und Metall-Union - have penned a memorandum ...
Euronav pounces on VLCC newbuilds Flush with cash having nailed its best Q2 results ever, Belgian tanker owner Euronav is adding tonnage with a deal for up to two VLCC newbuilds. The Brussels and New York-listed firm said it has agreed to buy one ship, with an option for another to be lifted in the next two months. The first ...
Velesto scores new gigs from Jadestone and ExxonMobil Subsidiaries of Malaysia's Velesto have been awarded deals for one of its jack-up rigs and a hydraulic workover unit. The first deal was awarded to Velesto Drilling by Jadestone Energy for the provision of the Naga 2 jack-up drilling rig for the East Belumut field infill drilling program. The estimated value of the contract is ...
Blanked sailings now 'part of normal shipping business life' Blanked sailings have become "part of normal shipping business life" on key east-west container tradelanes, suggests Alphaliner in its latest weekly report. However, other experts question just how much is actually blanked. Alphaliner data shows in June and July, 10.8% of all regular sailings out of the 25 Central China - Europe loops offered by ...
Canadian steelmaker taps Norden to slash coal supply chain emissions Danish owner and operator Norden and Canadian mining company Teck Resources have signed an agreement to reduce CO2 emissions in Teck's steelmaking coal supply chain. The agreement is expected to reduce annual emissions from Teck shipments handled by Norden by 25%, or up to 6,700 tonnes of CO2. Norden said it would achieve the emission ...
One dead, three missing as rig capsizes in Nigeria One person has died and three have been declared missing after a drilling rig capsized in Nigeria's Delta State on Tuesday. Nigerian oil and gas independent Seplat Energy confirmed the incident on the Depthwise swamp rig Majestic took place while it was in transit to its planned drilling location at Ovhor oilfield in the OML ...
Evergreen buys into Rotterdam's Euromax terminal Taiwanese container giant Evergreen has bought a 20% stake in Rotterdam's Euromax terminal for EUR72.5m ($109m), with analysts at Alphaliner suggesting Hutchison Ports was the seller. Fully operational, Euromax has design capacity of 4m teu. COSCO is among the other shareholders in the highly automated terminal. In other Evergreen ports news, the seventh container terminal ...
Minerva Marine readies container entrance Andreas Martinos-led Minerva Marine is tipped to be entering the container trades shortly. Analysts at Alphaliner suggest Martinos is behind a pair of 1,844 teu newbuilds ordered a year ago at Yangzijiang Shipbuilding, due for delivery by the end of this year. The ships are costing $30m each. Earlier this year, Greek tanker and bulker ...
AD Ports eyes further Kazakhstan investments AD Ports Group from Abu Dhabi has signed a heads of terms (HoT) agreement with Semurg Invest, the owner and developer of Sarzha Multifunctional Marine Terminal at Kazakhstan's Kuryk Port, to potentially invest in a grain terminal. Under the terms of the agreement, the two companies would form a joint venture to invest, operate and ...
Congestion and transit delays worsen for drought-hit Panama Canal An unprecedented drought that has restricted heavy loads and lengthened delays at the Panama Canal has bulk carriers facing the...
Zim looks to minimise cash burn ahead of soft peak season Israeli carrier predicts a soft peak season with no freight rates improvement during the second half of the year, despite the...
Political tension and regulatory pressure could break up container alliances Container shipping is not a particularly concentrated industry, but competition watchdogs will likely concentrate on individual routes
Flex LNG expects tightening market as winter closes in Company says spot rates have been hovering around $100,000 per day since June, with reports of winter fixtures achieving double...
Surge in long range two tanker orders leaves market with 'boat bloat' Numbers contracted so far this year are the most since 2013 and bring the total on order to 92, or...
Pragmatic shipping players will not be cured of 'impure' thoughts Wall Street's preference for single-sector shipowners and shipping's traditional reliance on diversification to ride out cycles is a recurring source...
Box shipping faces bumpy path to normalisation The pandemic boom has given way to a rapid return to normal. But in the medium term, container shipping should...
Western Bulk expects dry bulk headwinds in near term Oslo-listed Western Bulk expects to expand its fleet while charter rates are low and ahead of a widely anticipated market...
Cargo shortage now most common claim for bulkers carrying grains, says Swedish Club 'The bottom line is that the operator can find themselves seriously out of pocket through no fault of their own,'...
Euronav orders new VLCC for $112m Euronav has agreed to buy a new very large crude carrier, with the option for another, for delivery in the...
Africa could benefit from supply chain diversification African nations have potential to develop their logistics sectors. But investment in infrastructure and policy changes will be needed
Jiangsu Lianyungang Port terminates private placement to SIPG The placement funds were intended to be used to build a vehicle logistics centre and upgrade port facilities
Boxship departs Ukraine using new corridor Joseph Schulte is the first ship to leave a Ukrainian seaport since the Black Sea Grain Initiative ended in July
Daily Briefing Underwriters lack data on dual fuel ships, Beazley admits | Questions remain over departure of detained dark fleet tanker from...
Western Canadian cargo flow returning to normal following labor agreement Ports of Vancouver and Prince Rupert are clearing out the backlog of containers that built up during the two weeks of dockworker strikes in July, with no significant vessel, rail or trucking delays to report, according to stakeholders.
Zim bets on spot rates in challenging trans-Pacific market Despite the stability offered by contracted volume, the Israel-based carrier decided against locking in long-term rates at unsustainably low levels.
FMC walks tightrope on refusal of service rulemaking The clash between shippers and container lines highlights a major challenge for the FMC in finalizing rulemaking on when a carrier can refuse to serve shippers, most notably the risk that it could create a rule that's so commercially restrictive that it's unconstitutional.
Potential buyers look to pounce on Yellow assets up for sale More than 60 buyers are said to be scrutinizing the terminals and assets of defunct LTL carrier Yellow as freight volumes rise at its former US trucking competitors.
Rate collapse drags trans-Atlantic trade to loss-making levels: Hapag-Lloyd CEO Rolf Habben Jansen has hinted that capacity cuts on the trans-Atlantic could be made "fairly soon" as supply outstrips weak demand for US imports.
Logistics technology investment slowing post-pandemic: survey A study of global logistics professionals around hurdles to technology investment found that respondents were uninterested in linking financial rewards with software adoption.
Capesize bulkers sail ahead as Atlantic basin boosts sentiment, analyst says But China's property sector, which influences capesize market, faces more troubles, Clarksons Securities' Frode Morkedal notes
Carnival gives shorepower capability to Cunard's three ships Cruise major plans to have 60% of fleet equipped with shore power connectivity by 2030
Western Bulk Chartering books loss after freight market takes operator by surprise Bulker operator played the market wrong during the second quarter
Australian LNG worker strikes could have 'unprecedented' effect, Flex says LNG shipowner also flags up issue of lengthy delays at Panama Canal and describes it as a 'problem that is not going away'
Green Seas: Climate change threatens more woes ahead for gummed-up Panama Canal Our weekly sustainability newsletter talks to a climate scientist about how low rainfall is clogging a key shipping link
Zim misses estimates as it posts heavy loss in weak container market Israeli operator's average freight rate for this year's second quarter was less than a third of what it was a year earlier
Performance Shipping regains Nasdaq compliance without another reverse split Maxim Group-tied owner has traded above the minimum $1 bid level for 10 consecutive days in August
Profits rise at the Swedish Club as underwrting improves Latest figures show a positive first half of the year at Gothenburg-based mutual
Greece's Kyklades Maritime linked to suezmax order at Japan Marine United A cheap yen and financing deals help make Japanese yards competitive for tanker business again
Norden and miner Teck Resources sign plan to reduce cut carbon from coal supply chain Norden aiming to cut Scope 3 emissions for steelmaking coal
Maersk Broker's future left hanging as Clarksons cools on takeover talks Acquisition deal appears to be off the table leaving the Maersk family to consider its options
Michele Bottiglieri Armatore down to one bulker as two others sail across to Samudera Indonesia Italian shipowner that filed for insolvency protection in 2021 is nearly out of ships
Bernhard Schulte container ship sails free after 18 months trapped in Odesa More trapped ships now likely to follow along Ukraine safe corridor
2020 Bulkers profit shrinks on disappointing freight market during second quarter Company's results softer than last year amid weaker freight rates
Euronav jumps on VLCC resale from CMB Group's Bocimar in 'opportunistic' buy Tanker owner gets a helping hand from Saverys clan as company moves to turn attention to fleet renewal and growth
Dry-dockings hold down returns for Flex LNG but second half bounce-back promised Cheniere Energy extends charter on company vessel by declaring first optional period into 2031
Hoegh Autoliners brings Kongsberg Digital on for digitalisation push Oslo car carrier owner was the first to use the Vessel Insight platform and is now rolling it out across all its ships
Solstad Offshore secures $100m Brazil contract boost Fixtures have a positive read-through to other names with subsea vessel/Brazil exposure, say analysts.
Dyna-Mac and Kim Heng take novel approach to ramping up yard production through resource pooling Companies claim teaming up to boost capacity during a rising market will prevent any hangovers during a downturn
Harim may grab Pan Ocean cash to finance HMM acquisition, says Nomura South Korean shipowner recently reported a 60% decline in second quarter profit on back of weak dry cargo markets
Shipping line Zim bets big on spot market as losses mount Zim lost $213 million in the second quarter. Will rising trans-Pacific spot rates help it reverse course in the third?
Malaysian cargo airline Raya leases ATSG's 1st Airbus freighters The current valley in airfreight demand hasn't spooked Air Transport Services Group, which continues to invest in freighter aircraft for its leasing and airline businesses.
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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