USCG responds to dredge capsize The Coast Guard has been overseeing a pollution response after a cutter suction dredge capsized in the Mississippi River in the vicinity of Mile 85 near Meraux, La. Coast Guard Sector New
PODCAST: ClassNK on autonomous shipping In this edition of Marine Log's Listen Up! podcast, we talk to Dr. Makoto Ito, a researcher at the ClassNK Research Institute, on the future development of autonomous shipping and ClassNK's role
Crowley and Esvagt to build Jones Act SOV for Siemens Gamesa charter Crowley and Esbjerg, Denmark-headquartered Esvagt are to jointly build and operate a service operations vessel (SOV) under a long-term charter with Siemens Gamesa Renewable Energy. Crowley will manage and crew the SOV
COSCO unveils plans for new green low-carbon smart terminal COSCO SHIPPING Tianjin, Hainan Harbor & Shipping and Yangpu International Container Terminal are expected to jointly build a green low-carbon smart terminal, with the photovoltaic power plant project as a starting point. Chinese President Xi Jinping, during his visit to Yangpu International Container Terminal, in April 2022, noted that in order to revitalise port operations and develop the transp
PureCycle's first plastic recycling plant in Europe to be built in Port of Antwerp-Bruges NextGen District PureCycle Technologies and Port of Antwerp-Bruges announced that PureCycle will build its first polypropylene (PP) recycling facility in Europe in the Belgian port's NextGen district. Specifically, the new plant is going to have an annual capacity of 59,000 metric tons with opportunities to expand operations in the future since the 140,000 m² plot can support up to four processing lines with a to
Eight believed killed in Thai tanker blast Seven dock workers are feared dead after a products tanker exploded in Thailand while undergoing maintenance works, shortly after 9 am local time on 16 January. The 2018-built 6,500 dwt Smooth Sea 22, one of seven tankers owned by Thai tanker operator Smooth Sea, was anchored at Ruammitr Dockyard along Mae Klong river in Muang district when the incident happened. Firefighters took over an hour to
Global Ports reports severe container decline in 2022 Global Ports Investments PLC announced its operational results for the fourth quarter of 2022 and the full year of 2022. In the previous year, the Group's Consolidated Marine Container Throughput declined 37.1% year on year, to 992,000 TEUs. The Russian port operator noted that container throughput in the far Eastern basin and at VSC, the company's terminal in Far East, increased driven by a rebu
Lines divert ships back from long-distance lanes to intra-Asia services Liner operators are re-assigning ships from long-haul routes to intra-Asia lanes, as rates in the former continue to trend at pre-Covid-19 lows. Back in mid-2020 to mid-2022, companies such as Wan Hai Lines and China United Lines moved tonnage from intra-Asia routes to what were then the more lucrative Asia-Europe and Transpacific lanes. Now, as rates on the long-distance routes have crashed, lin
COSCO pays over US$800 million for minority stake in COFCO Fortune COSCO Shipping Holdings has agreed to acquire a 5.8% stake in COFCO Fortune, a food processing and transportation subsidiary of the Chinese state agricultural conglomerate COFCO, for US$814 million. The transaction is part of a COFCO Fortune capital enhancement strategy, according to a recent stock exchange filing by COSCO SHIPPING Holdings. Meanwhile, COFCO and other parts of the company will ma
HPC completes profitability report on Cologne North intermodal terminal Häfen und Güterverkehr Köln (HGK) contracted last year Hamburg Port Consulting (HPC), a logistics consultant in the ports and logistics industry, to undertake a profitability analysis - based on a tender - for the Cologne North intermodal traffic train terminal. The research was meant to be conducted from the perspectives of both investors and operators and to serve as the foundation for estimati
Over 24,000kg of cocaine found on MSC boxship after Antwerp false bomb threat The 2006-built container vessel MSC Lorena was found to carry more than 24,000 kilos of cocaine at the port of Antwerp in Belgium. The Antwerp prosecutor's office reported that the 4,870 TEU container ship was carrying the drugs in a cocoa box. In late December and while MSC Lorena was sailing from Senegal to Antwerp, Belgian authorities received a bomb threat call for the boxship in case it dock
Environmental data provider partners with Maersk Mc-Kinney Moller Center The environmental data provider ecoinvent and the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping signed a Knowledge Partnership Agreement today, 17 January. With the agreement, ecoinvent and the Center become formal partners, committing to a long-term strategic partnership for the marine industry's decarbonisation. The new partner of the Maersk Mc-Kinney Moller Center is a globally activ
HAROPA Port surpasses 3 million TEUs in 2022 HAROPA Port, a port complex in France including the ports of Le Havre, Rouen and Paris, handled 3.1 million TEUs in 2022 achieving relatively steady volumes compared with 2021 numbers. Additionally, HAROPA's maritime throughput reached 85.1 million tonnes representing a slight year-on-year increase of 2%. HAROPA noted that 2022 was an "excellent year" for grains. HAROPA said it is consolidating i
DP World to build new container terminal at Prince Rupert port AECOM, an infrastructure consulting firm, has been selected by DP World to perform a feasibility and design study for the construction of the Port of Prince Rupert's second container terminal. The second terminal is expected to double the overall container capacity of the Canadian port, adding at least two million TEUs per year. "We're incredibly pleased to work with DP World, and the Prince Rupe
Yang Ming turns 50, sets target for net zero emissions by 2050 On 28 December, Yang Ming Marine Transport held a celebration for its 50th anniversary at the Grand Hotel Taipei in Taiwan inviting notable guests such as Wang Kwo-Tsai, Taiwan's minister of transportation and communications, Tsai Ming-Yen, the country's deputy minister of foreign affairs, as well as joint venture partners, strategic alliance partners, clients, long-term suppliers, and representa
TotalEnergies and RWE link up for French offshore wind play French energy major TotalEnergies and German utility RWE have jointly submitted a bid in the French government's Centre Manche 2 (AO8) tender for an offshore wind site off Normandy. The AO8 site, located about 40 km off the Cotentin peninsula, can host a wind farm with an installed capacity of between 1.4 GW and 1.6 ...
Diana Shipping seals fixtures for bulker pair Greek bulker owner Diana Shipping has secured employment for two of its ships that should bring in about $15m for the minimum scheduled period of their contracts. The Semiramis Paliou-led company has agreed a charter extension with Luxemburg-based CLdN Cobelfret for the 2012-built post-panamax Polymnia. The charter commenced on January 14, fixing the 98,704 dwt ...
Navigator and Greater Bay Gas ethylene carrier JV adds another ship A joint venture between New York-listed handysize gas carrier owner and operator Navigator Holding and its Chinese partner Greater Bay Gas has acquired the second of its scheduled five ethylene vessels. The jv, owned 60% by Navigator and 40% by Greater Bay Gas, has added the 2018-built 17,000 cu m liquefied ethylene gas carrier and ...
Crowley and Esvagt JV scores Siemens Gamesa charter for SOV newbuild in the US US-based owner Crowley and Danish offshore player Esvagt have secured a 15-year charter deal with wind turbine maker Siemens Gamesa which will see them jointly build and operate a service operations vessel (SOV) for Dominion Energy's Coastal Virginia offshore wind project in the US. Under the first contract in the US, Crowley will manage and ...
Eni's Plenitude and Simply Blue forge Italian floating wind tie-up Eni's renewables business unit, Plenitude, has teamed up with Irish blue economy project developer Simply Blue Group to jointly develop a pipeline of new floating offshore wind projects in Italy. The partners have already submitted the first two projects, in Apulia and Calabria, dubbed Messapia and Krimisa estimated to cover the energy needs corresponding to ...
Fujian Guohang Ocean Shipping in for up to six bulker newbuilds Chinise dry bulk shipping operator Fujian Guohang Ocean Shipping has moved to expand its fleet with up to six panamax newbuilds. The Beijing Stock Exchange-listed company has booked four firm 73,800 dwt ships at Jiangsu Haitong Offshore Engineering Equipment in a deal worth around $128.4m, with options attached for two additional newbuilds. The company said ...
Ørsted eyes up to 18 GW of offshore wind capacity in Sweden Danish utility Ørsted has applied for permits to build four additional offshore wind farms in Sweden with a combined capacity of 15 GW by 2032. The move comes on top of existing plans for 3 GW, lifting Ørsted's Swedish portfolio to a potential 18 GW enough to cover more than half of the country's electricity ...
At least one dead in Thai tanker blast One person was killed and at least another ten injured in a massive explosion on a Thai tanker at a dockyard on the Mae Klong river in Thailand's Samut Songkhram province on Tuesday morning local time. The 2018-built oil products tanker suffered an explosion at Ruammit Dockyard while undergoing routine maintenance. The 6,500 dwt Bangkok-registered ...
CMB seeks to oust Euronav board who voted in favour of Frontline merger Compagnie Maritime Belge (CMB), the shipping line run by the Saverys family, has sent tanker firm Euronav a letter requesting the supervisory board convenes a general meeting with the aim of replacing the entire existing board, all of whom voted in favour of merging with Frontline, a deal that has recently gone sour. CMB has ...
Up to $3bn to be spent on new anchor handlers to meet floating wind demand Billions of dollars are likely to be spent on new anchor handlers to meet floating wind farm installation vessel demand through 2035. According to research carried out by analytics firm Intelatus Global Partners, an investment of around $3bn will be needed to meet floating installed capacity, which is forecast to reach 63 GW by 2035. ...
Secondhand containership prices in free fall Secondhand boxship prices are falling off a cliff. After a very muted second half of 2022 in terms of sales, the opening 17 days of 2023 have registered some severe drops in prices for the previously buoyant sector. Brokers Southport Atlantic note the sale of the 2007-built, 2,553 teu G. Ace as a good illustration ...
Aker Solutions awarded TotalEnergies subsea contract in Brazil Norway's Aker Solutions has been awarded a subsea contract worth between $50.5m and $151m by TotalEnergies for the Lapa South West field construction offshore Brazil. The development concept is a subsea tie-back to the floating production storage and offloading (FPSO) unit, using existing facilities and infrastructure. Under the contract, Aker Solutions will deliver a subsea ...
Statkraft sells half of its Irish offshore wind portfolio to CIP Norway's largest utility Statkraft is selling a 50% stake in its offshore wind portfolio in Ireland to a fund managed by Denmark's Copenhagen Infrastructure Partners (CIP) for an undisclosed sum. The deal includes four early- to mid-stage offshore wind development projects off Ireland's east and southeast coast in the Irish Sea with an expected capacity ...
Boxships cascade back to the intra-Asia trades As the liner shipping party comes to a close, ships are cascading back from the long-haul east-west lanes to regional trades. Latest data from consultancy Linerlytica shows that the total boxship capacity employed on the intra-Asia trades are rising again after a two-year decline. Intra-Asia capacity peaked in early 2020 at 3m teu but fell ...
COSCO invests in COFCO State-owned entities in China are increasingly investing in each other. COSCO Shipping Holdings has revealed it has just paid RMB5.5bn ($814m) to buy a 5.8% stake in COFCO Fortune, a food processing and logistics unit of Chinese state agricultural conglomerate COFCO. COSCO said it and COFCO Fortune will explore operations involving resources such as container ...
Asyad Shipping signs up for two new LNG carriers Asyad Shipping, a subsidiary of Oman's Asyad Group, has signed with Hyundai Samho Heavy Industries in South Korea to build two 174,000 cu m LNG carriers. The ships will deliver in 2026 and will take the diversified Asyad Shipping fleet to 70 vessels. Dr Ibrahim bin Bakhit al Nadhiri, CEO of Asyad Shipping, commented, "Given ...
The Captain's Table finals broadcast live on Splash The Captain's Table finals, shipping's preeminent pitch competition, return today, with the whole show due to be broadcast live from Hong Kong on Splash. This year's finalists showcase solutions on issues such as decarbonisation, optimisation and risk management. They will be grilled by judges including shipowners and managers. The winning team will walk away with ...
DP World eyes second container terminal at Port of Prince Rupert DP World Prince Rupert has engaged AECOM, an infrastructure consulting firm, to conduct a feasibility and design study for the development of a second container terminal at the Port of Prince Rupert on Canada's Pacific Coast. AECOM's work is intended to determine the technical and financial feasibility of developing the terminal, and provide the baseline ...
TotalEnergies launches Lapa South-West project offshore Brazil TotalEnergies has made a positive final investment decision for the Lapa South-West oil development located in the Santos Basin, 300 km off the coast of Brazil. The company operates the project with a 45% interest, in partnership with Shell (30%) and Repsol Sinopec (25%). Lapa South-West will be developed through three wells, connected to the ...
One dead, seven missing after explosions on product tanker in Thailand Vessel was reportedly laden with 25,000 litres of fuel oil and 20,000 litres of diesel while undergoing maintenance.
Pool scheme reinsurance levy set to increase for most vessel types VLCC owners set to pay around $110,000 per ship, while bill for capesizes will come in at about $55,000
Record monthly shipments of Guinea bauxite lend support to capesize trades First quarter of 2022 volumes exported from Guinea averaged 7.7m tonnes and 9.9m tonnes over the final three months of...
Houston container imports see first decline in over two years Port ends exceptional growth run amid a plunge in US imports
Rio Tinto warns China's exports could be hampered by slowing global economy China's ending of its zero-Covid policy and the subsequent wave of infections is set to bring high volatility in the...
Sanctions have impact on Russia's largest box terminal operator Movement of volumes to Russia's far east ports fails to stem the tide. Box volumes fall by over half in...
Cosco issues first bulk electronic bill of lading over blockchain platform The Cosco unit, which operates a fleet of specialised carriers for the parent conglomerate, has joined GSBN as a new...
TEN sells six ice-class MR2s in deal worth $130m Tankers linked to Middle Eastern interests as well as a US fund, according to sources
Transit times improve as supply chain congestion fades Shippers are seeing improvements in cargo delivery times on major trade lanes. Global average shipping times fell by nine days...
KSOE confirms newbuilding contract for LNG trio South Korean shipbuilding group secures first liquefied natural gas tanker orders at any yard this year
Supply chain pressures force globalisation rethink Low growth, high inflation and geopolitical tensions are putting global trading patterns under threat
Fujian Guohang Ocean Shipping to order six panamax dry bulkers Move comes after the Chinese owner raised $80m from its IPO in Beijing to fund its existing five-ship orderbook
Almost 90% of all major ports face climate risks, study finds Research on 1,340 ports found 86% face climate hazards, including tropical cyclones and river flooding of ports
Saverys family moves to oust Euronav board Boardroom battle looms over strategic direction of company now deal with rival tanker owner Frontline owned by John Fredriksen is...
Industry survey dispels myths of digitalisation for shipping Although there is no one-size-fits-all digital solution, shipping must adopt a mindset that accepts a small upfront cost to set...
Cosco to acquire 5.8% stake in Chinese food group for $810m Investment will pave the way for joint efforts between the two sides, including expanding end-to-end business collaboration, combining container yards...
Daily Briefing Barbados flag targeted by dark fleet owners shipping sanctioned crude | Fredriksen raises Euronav stake as board showdown looms |...
Shipping forms committee to tackle issues impacting Filipino seafarers Key aims of the advisory board include contributing to the provision of appropriate training to the country's seafarers in compliance...
Trans-Pac spot rate spread for East, West coasts narrows ahead of Lunar New Year The narrowing spread between East and West coast spot rates in the eastbound trans-Pacific comes as spot rates to the East Coast have fallen by 18 percent over the past six weeks while West Coast rates have ticked slightly higher.
Trans-Pac spot rate spread for East, West coasts narrows sharply ahead of Lunar New Year The narrowing spread between East and West coast spot rates in the eastbound trans-Pacific comes as spot rates to the East Coast have fallen by 18 percent over the past six weeks while West Coast rates have ticked slightly higher.
US shippers still facing LTL rate pressure: Cowen/AFS study Less-than-truckload rates are rising despite economic headwinds as accessorials, general rate increases, and a trend toward higher freight rate classes support a high pricing floor.
French port group Haropa expands inland river network Import weakness kept volume flat at the merged French ports of Le Havre, Rouen, and Paris, but an improved river and rail network resulted in a large rise in hinterland traffic.
RoadOne looks to tap Houston freight growth with deal for Texas drayage carrier The sharp increase in freight activity seen at the Port of Houston over the past year has prompted national drayage provider RoadOne IntermodaLogistics to acquire a Texas motor carrier.
Lack of space costing Zeebrugge new ro/ro clients: port Zeebrugge's ro/ro traffic rose 6.5 percent in 2022, even as congestion and tight capacity constrained potential growth.
Pass-through fees could disincentivize carriers from decarbonizing: shippers Shippers are generally willing to share in the cost of reducing carbon emissions, but they worry a lack of transparency in pass-through charges could allow shipping lines to continue burning fossil fuels.
VesselsValue data shows big rally in offshore ship values Valuation service shows massive gains across size and age for PSVs and AHTSs
Dry bulk spot rates sink but futures point to bigger rebound after Chinese New Year FFAs for key bulker segments in February to May are higher than they were two weeks ago
Best ever: International Seaways tips the good news coming from fourth-quarter results New York tanker owner sees market going from strength to strength in 2023 with Ukraine disruption, China demand playing a role
Turbine size slowdown a positive for WTIV players, DNB says Investors looking into Eneti and Cadeler should be calmed by comments from Vestas chief executive
Diana Shipping sees earnings slump on two bulkers as Cobelfret and NYK Line sign charters But deals for a post-panamax and a newcastlemax show period rates have held their ground since last-done charters
DNV still working to bring ShipManager software back online for 1,000 ships Cyber-attack which took ShipManager servers offline 10 days ago has affected 70 customers
Crowley and Esvagt joint venture to build US service operations vessel Crest Wind will charter the ship to Siemens Gamesa to work on a wind farm project offshore Virginia
Scorpio-backed battery developer Britishvolt goes into administration UK electric vehicle battery start-up in which Scorpio Group invested last year has collapsed after an attempt to rescue the group failed.
Blue Sea Power progresses LNG-to-power barges for Greece and beyond Shipyard tender due to be sent out in third quarter for pioneering new floating storage regasification and power units
SeaLead fixes another large boxship at sharply reduced rate Singapore operator takes in more tonnage with eye on strategic partnerships and new markets
BRS says shadow fleet oil spill could put an end to rogue trade Incident could mean environmental catastrophe but would redraw tanker map
BRS pinpoints hurdles standing between tanker owners and their 'golden age' Potential headwinds include higher oil prices and a Chinese ban on fuel exports
Top Ships buys back $12m of preferred shares after recent fundraising Greek VLCC owner takes out some of its priority stock issue
BRS pinpoints hurdles standing between tanker owners and their 'golden age' Potential headwinds include higher oil prices and a Chinese ban on fuel exports
Cofco's head of freight jumps ship to build trading team at Eurochem Alessio La Rosa is leaving the grain giant after seven years
Seven seafarers missing as huge explosions rip through product tanker in Thailand Huge blasts caught on camera as the Smooth Sea 22 goes up in smoke, killing a dock worker and damaging houses
The Kraken Awakes - how digitalisation still frightens many in shipping Report from Wartsila shows there is belief in technological innovation but high levels of fear and resistance still needs to be overcome
Oman's Asyad confirms LNG carrier order as it seeks to diversify fleet Former Oman Shipping Co says investment in gas underlines it commitment to zero-emission future
Dynagas linked to LNG carrier newbuilding trio at Hyundai Heavy Industries South Korean heavyweight shipbuilder notches up first LNG orders for 2023
China's Fujian Guohang expands fleet with up to six panamax bulker newbuildings The Beijing-listed shipping company said the new ships will increase its competitiveness and reduce operating costs
Eight seafarers rescued as cargo ship sinks off Taiwan Unnamed vessel took on water and capsized in heavy seas
Singapore Strait robbery 'contained', says Asian piracy watchdog Slight rise in cases of robbery against ships in the region reported in 2022
Two DSME LNG carrier orders come under threat as Hanwha moves in New owners of South Korean shipbuilder said to be scrutinising contracts as they transition into ownership
Legacy tanker charters hit Tufton but will unwind this year UK shipping fund expects sector to remain strong in 2023
Cosco splashes $814m on stake in logistics company Cofco Fortune Deal is part of a capital increase plan by the unit of state agricultural group Cofco
Merger fall out: Saverys family launches bid to replace Euronav's supervisory board Owners of CMB demand shareholder meeting to oust five directors, including chair Grace Reksten Skaugen
End of China's Covid controls may cause supply chain disruptions, says Rio Tinto Iron ore miner says steel demand recovery hinges on China's ability to control the virus outbreak
Ukraine conflict will have negative impact on trade patterns for next decade Boston Consulting Group warns of major trade pattern shifts and slower than average trade growth
Ex-Keppel employees tied to Petrobras bribery scandal avoid prosecution Singapore authorities said the case was complex and transnational making prosecution difficult to carry out
Wan Hai finalising scrap deal for 10 container ships but Pakistan still a no-go Compliance checks holding up definitive agreement for veteran vessels
All-star maritime cast urged to ignite passion in next generation Industry leaders converge on Singapore for annual New Year Conversations about navigating shipping's changing landscape
High on dry: Deutsche Bank gets behind a 2023 rally for Star Bulk and dry trade Count the analysts among the believers that the China story is returning for dry bulk after slow first quarter
Chinese e-commerce logistics company Zongteng inaugurates Paris air route Two Chinese logistics companies have started their own airlines and now have expanded their routes within China, and internationally.
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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