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DECEMBER 18, 2023

Shri Chandra Group opens new office in Mumbai CONCOR commences LNG trucking service between ICD Nagpur and ICD Raipur Cargo Service Center expands operations in Kerala Gujarat Junction CEO Roundtable & Exim Star Awards 2023 set to see extensive stakeholder participation this Wednesday Baltic Exchange Market Report (15 December 2023) Commerce Ministry urges FinMin to remove inverted duties FFFAI invites nominations for 'FIATA Young Logistics Professional Award-2024' Gateway Distriparks enhances fleet with 32nd container train & 60 trailers Leading lines pause Red Sea route as attacks intensify Exports dip in Nov. Report on logistics cost in India released MbPA organises programmes to mark HIV/AIDS Day & Awareness Week MSC's Terminal Investment Ltd takes 49 pc stake in Adani Ennore Container Terminal

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DECEMBER 18, 2023

Keep calm and digitalise

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DECEMBER 15, 2023

Maersk halts local ship movements following attack Liner diversions and war-risk surcharges drive up costs for Asia-Europe shippers The bright side of the ocean shipping trade Box lines push up Jebel Ali freight rates to make up THC losses Shipowners must figure it out as carriers update their ETS surcharges Bid to cut through post-Brexit red tape tying up UK trade with Flanders Instafreight files for insolvency - but founder Ortwein hopes for restructure The 'almost covert' nascent airfreight market recovery Loadstar explains: Wind-assisted ships - smooth sailing or just hot air?

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DECEMBER 15, 2023

Houthi attacks on ships could bring Suez Canal supply chain crisis Leading shipping analyst Peter Sand is warning that missile and drone attacks by the Houthis on merchant ships passing through the Red Sea and Gulf of Aden could throttle Suez Canal traffic, Mystery buyer orders cable layer at Vard With offshore wind farm development creating the need to lay a lot of cable, demand for cable layers can only be expected to grow. One beneficiary of this is Fincantieri's Norwegian subsidiary All four OSG Alaska class tankers to get engine upgrades Tampa, Fla., headquartered Overseas Shipholding Group Inc. (NYSE:OSG) has signed a contract with MAN Energy Solutions SE that will see all four of the nearly 20-year old OSG Alaska class tankers get Detyens wins $8.2 million USNS Arctic contract Detyens Shipyards Inc., Charleston, S.C., has been awarded at $8,220,997 firm-fixed-price contract (N3220524C4091) for an 82 calendar day shipyard availability for a mid-term availability of Military Sealift Command's fleet ordnance and dry

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DECEMBER 15, 2023

Mærsk Mc-Kinney Møller Center and Rystad Energy sign knowledge partnership deal The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and Rystad Energy signed a knowledge partnership agreement to formalise their collaboration. As official partners, the Center and Rystad Energy have embarked on a long-term commitment to collaborate strategically on decarbonising the maritime industry. As an independent energy research and business intelligence company that tracks and ana SSA Marine hits milestone in SSA Jacksonville Container Terminal upgrade project American terminal operator SSA Marine has reached the halfway mark in its ambitious US$72 million project to modernise and expand the SSA Jacksonville Container Terminal, located at JAXPORT's Blount Island Marine Terminal. This collaborative effort, a public-private partnership between the port and SSA Marine, commenced its phased construction journey in 2022. Recently completing four out of eigh CLdN to expand Dublin services Luxembourg-based provider of logistics solutions CLdN expanded its Irish Sea services, after the decision by Dublin Port Company (DPC) to grant CLdN a license to use the port's Terminal 5. In September, DPC called for proposals from interested ferry lines to service west coast English or Welsh ports out of Dublin following confirmation that P&O (which operated from Terminal 5 in Dublin Port) woul APM Terminals Elizabeth enhances operations with new container cranes APM Terminals Elizabeth has announced the commissioning of two cutting-edge ZPMC Super-Post Panamax ship-to-shore (STS) cranes. Boasting an impressive 23-container outreach, these cranes are crafted to seamlessly handle both ultra-large container vessels (ULCVs) and Neo-Panamax Vessels. The cranes have completed all testing and are ready to handle the largest ships calling US east coast ports, ca COSCO debuts Hi ECO sustainable shipping product COSCO SHIPPING Lines has presented the first green shipping certificate at Volvo's Asia Pacific headquarters on 5 December, based on their utilisation of its green shipping product Hi ECO. COSCO SHIPPING Lines said it pioneered the bunkering of its operating vessels with biofuel to achieve measurable carbon emission reduction in 2022. The company tries to assist its customers in reducing greenhou CMA CGM increases rates from Red Sea to North Europe & West Med French box line CMA CGM has decided to raise its Freight All Kinds (FAK) rates from Red Sea to North Europe and West Mediterranean. The updated rates will go into effect on 14 January and will apply only to dry cargo. From Red Sea to: Per 20' (TEU) Per 40' (FEU) North Europe US$850 US$900 West Mediterranean US$850 US$900 The post appeared first on Container News . MacGregor cargo-stowage optimisation enhances cargo-carrying efficiency A holistic and tailored approach to designing stowage solutions is helping owners increase their earning potential and minimise the environmental footprint of their ships, according to MacGregor. While optimising efficiency in the transport of goods is fundamental to a ship's earning capability, owners sometimes pay insufficient attention to the vessel's cargo-handling system during the early des

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DECEMBER 15, 2023

Petra Energy offloads accommodation vessel Malaysia's Petra Energy has sold its 2009-built accommodation work barge Petra Lyra via its subsidiary Petra Marine. The Malaysia-flagged vessel was sold to Great Sky Investments Corporation, a company nominated by Star Chance Limited, for $3.95m in cash. The company said in a filing the disposal is timely for it to monetise the non-performing asset ... Louisiana approves first offshore wind contracts Louisiana's State Mineral and Energy Board has approved the state's first-ever offshore wind operating agreements. The board approved a 6,162 acre property agreement for Mitsubishi's Diamond Offshore Wind (DOW Wind) off the coast of Terrebonne and Lafourche parishes and a 59,653 acre agreement for Vestas-controlled Cajun Wind off the coast of Cameron Parish. "For generations, the ... Aker Capital bolsters position at Solstad Offshore Kjell Inge Røkke-controlled Aker Capital has upped its stake in Solstad Offshore, acquiring a further 8.24m shares in the Norwegian outfit at an average price of NOK48.45 ($4.62) per share. Following the transaction, Aker Capital now holds approximately 32.9 % of the shares and votes in the company. Solstad Offshore struck a refinancing deal for ... Edda Wind seals green term loan facility agreement Edda Wind has entered into a green term loan facility agreement for the pre- and post-delivery financing of the four commissioning service operation vessels under construction at Vard. The agreement is a EUR161m ($177m) green loan facility with Crédit Agricole, Danske Bank, DNB Bank and SpareBank, with expiry in 2029 and a profile of 12 ... COP28 ensures IMO shines Who better than Dr Tristan Smith from UCL Energy Institute to reflect on the key takeaways from the UN's green gathering in Dubai? My two takeaways from COP28 are: what a relief that the International Maritime Organization (IMO) makes decisions by consensus and can invoke decision making by voting, and that COP continues to grow ... MOL to issue shipping's first blue bonds Japan's Mitsui OSK Lines (MOL) will become the first shipowner in the world to issue blue bonds next month. All the proceeds from the public offering in Japan's domestic market will go on investments to contribute towards a sustainable blue economy. MOL has a raft of green tech it is working on including its hard ... Geneva Dry Dialogues: Range Shipping Shipping people are "eternal optimists", according to A. Burak Akdemir, the managing director of Range Shipping, a gold sponsor at Geneva Dry, and one of the more than 30 owner/operators confirmed coming to the event. "In a world where unpredictability stemming from global events has become the norm, shipping has to rely on a forward-looking ... InterManager calls for action following eight deaths in enclosed spaces in seven days With eight deaths in the space of one week in enclosed spaces on ships, InterManager, the global shipmanager association, has called on the shipping industry to work together to improve safety in these challenging onboard areas. Three seafarers and five shore workers died over the past week in accidents in enclosed spaces, bringing this year's ...

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DECEMBER 15, 2023

Houthis target tenth ship in Red Sea as attacks turn increasingly indiscriminate Iran-backed Houthis claim responsibility for strikes against two MSC ships, but a Hapag-Lloyd vessel was also struck. These vessels have... Navies must ensure trade flows in the Red Sea Let gunboat diplomacy be confined to the past. But there are legitimate uses of gunboats in the 21st century; the... Crowley to pilot Carbon Ridge's onboard carbon capture and storage system Crowley will pilot a small capacity version of Carbon Ridge's carbon capture and storage technology onboard a 974 teu boxship... EU ETS to give Rotterdam LNG bunkers competitive edge LNG bunkering to become more attractive for intra-EU voyages in 2024 on the back of shipping's inclusion in carbon trading... Bulk carrier Ruen hijacked off Somalia Navibulgar bulk carrier Ruen reportedly hijacked off Somalia on Thursday. Shipping associations condemned the week's attacks and called for states... The Lloyd's List Podcast: The outlook for shipping in 2024 and beyond The world is living through the most dangerous time since the Cuban missile crisis. Geopolitical tension is keeping everyone awake... Updated: Maersk and Hapag-Lloyd halt Red Sea passages Several containerships have come under attack in the Bab el Mandeb, a strait between Yemen on the Arabian Peninsula, Djibouti... MOL to issue blue bond worth $70.6m in January The proceeds from the bond issuance will be used to finance Mitsui OSK Lines' environmental initiatives Seanergy plots largest buyback yet along with ATM funding New programme authorises up to $25m in share repurchases over the next two years OSG to shell $100m on engine upgrades for its Jones Act crude tankers Overseas Shipholding Group's four Alaskan-class crude tankers will undergo engine upgrades worth close to $100m as the vessels near 20... Dry bulk: Q4 rally could breathe life into seasonal slumber Record grain exports from Brazil and continuing restrictions in the Panama Canal have been buoying up healthy demand LNG and LPG: Panama Canal restrictions to keep freight rates high in 2024 Weak seasonal demand during the first quarter of 2024 will be offset by increasing tonne-miles because of reduced capacity in... Containers: Box shipping swings into down cycle Container shipping is in one of its cyclical downturns; it will need discipline to contain capacity if rates are to... Daily Briefing Missile fired at Maersk containership entering Red Sea | Shipping banks reveal extent of their misalignment to net zero targets...

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DECEMBER 15, 2023

Panama Canal restrictions, Suez attacks kickstart West Coast cargo shift A slower than anticipated shift of cargo back to the West Coast since ratification of the coastwide labor contract could accelerate in the coming months due to restrictions at the Panama Canal and this week's hostilities involving container ships in the Red Sea, which could affect Suez routings. Retailers retooling supply chains amid lower demand, excess capacity As conditions normalize, US retailers such as Dollar General are cutting unneeded resources, including temporary warehousing, while reinforcing their core business. Jacksonville port area sees record industrial warehouse leasing Retailers and e-commerce merchants leased 3.7 million square feet of warehousing and distribution space near the Port of Jacksonville in the third quarter, a record for Jacksonville's industrial market. Hapag-Lloyd vessel hit in Red Sea 'choke point' The container ship was hit while transiting the narrow strait between the Gulf of Aden and the Red Sea that US Central Command monitoring the area regards as "a critical choke point."

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DECEMBER 15, 2023

US and UK say growing Red Sea threat 'must be addressed' as container ships take U-turns Tracking data shows ships in the fleet of four liner operator reverse course Mysterious low-profile Kurow Shipping doubles down on product tanker newbuildings in China The under-the-radar outfit now has eight tankers on order at Zhoushan Changhong Israeli 'linked' ships still bearing the brunt of Red Sea security concerns Some ships are moving south to the Cape of Good Hope, but it is unclear how many Germany's first FSRU imported 6% of country's gas consumption in 2023 But operator Uniper working 'full steam ahead' on green ammonia options for Wilhelmsen region Greece's Attica signs big fleet upgrade deal with local shipyards Country's biggest ferry operator chooses Onex Technologies Group as its preferred shipyard partner Podcast: At COP28, shipping grapples with challenges of 'transitioning away' from fossil fuels Audio edition of Green Seas explores key themes for the maritime sector at the global climate conference Container lines plot massive rate rises as chokepoint diversions ramp up Moves to avoid Panama and Suez Canal's raises prospect of higher freight rates Editor's selection: Pappas pounces on Eagle; Houthis ramp up attacks on shipping; and what did we learn from COP28? The biggest and brightest stories of the week from the TradeWinds newsdesk CPLP's $500m rights offer leaves Marinakis with controlling stake Funds raised help bankroll the US-listed firm's transformation into a pure-play LNG carrier company Unmanned autonomous container ships to cross North Sea in 2026, navigating one of the world's busiest waterways Van Coillie's Zulu Associates want to see autonomous vessels running to and from the UK in 2025, unmanned in 2026 Mitsui OSK Lines becomes 'first' shipping company to issue blue bonds, paving the way for ocean health Japanese shipowner to sell ¥10bn of the bonds in January ICS calls for more warships to patrol Red Sea as owners divert vessels The 'full maritime security architecture should be brought to bear' as shipping weighs options to avoid Red Sea transits Fredriksen-backed Edda Wind seals $176m loan for newbuildings European lenders chip in to finance Norwegian company's four offshore wind vessels Great Eastern ships out another elderly tanker as renewal continues Indian owner says 2004-built vessel will be delivered by the end of March Slotflation? Panama Canal auction prices soar as major customers hold golden ticket Not in the top 10 of users? It will likely cost a pretty penny to get in Mysterious low-profile Kurow Shipping doubles up on product tanker newbuildings in China The under-the-radar outfit now has eight tankers on order at Zhoushan Changhong Genco takes advantage of rising capesize rates through big spot exposure But full effect of improved dry sector will not be seen until the first quarter Hapag-Lloyd and MSC ships targeted due to operators' past Israeli trade Latest incidents in Red Sea widen the list of targets exponentially MOL linked to new order for VLECs at HD Hyundai Heavy Industries Deal said to be backed by charter with pioneering customer in long-haul ethane shipment sector Navibulgar vessel drifting in the Arabian Sea is hijacked, Bulgaria says The 41,600-dwt Ruen (built 2016) is in open sea about 400 miles east of Yemen's Socotra island, heads towards Somalia Brussels 'looking at' carbon trading markets after pushback from nations and FFA brokers Members of Independent FFA Association raise concerns that financial risk in shipping is growing BW Energy board rejects mandatory offer as Sohmen-Pao 'reserves the right' to delist Independent directors believe Oslo-listed company's future value is greater than offer price Genco taking advantage of rising capesize rates through big spot exposure Full effect of improved dry sector will not be seen until the first quarter, however Gunvor reinforces ESG commitment with its first sustainability-linked Samurai loan Geneva-based multinational energy commodities trading group refinances Yen-denominated sustainability-linked facility European Commission 'looking at' carbon trading account structures after pushback from nations and industry Members of Independent FFA Association raise concerns that financial risk in shipping is growing Aker Capital buys more Solstad Offshore as fight for control continues Kjell Inge Rokke was set to take control of the offshore owner before Christian Sveaas took steps toward legal challenge Nova Marine reveals bulker buys in hot handysize S&P market Versatile, Lugano-based owner buys in Japan for its first fleet additions in nearly two years Seanergy Maritime eyes $30m ATM deal as more share buybacks planned Capesize specialist's chief executive is also acquiring more shares New Houthi strike on Hapag-Lloyd boxship as boarded bulker drifts in Arabian Sea A 15,000-teu vessel is hit as Houthis attack commercial shipping on a daily basis Cadeler to squeeze out remaining Eneti shareholders after sealing $1.2bn merger 'Strong' backing to create world's biggest WTIV company as acceptance hits 86% BW Energy board rejects takeover offer as Sohmen-Pao 'reserves the right' to delist Independent directors believe Oslo-listed company's future value is greater than offer price New Houthi strike on boxship, as boarded bulker drifts in Arabian Sea Hapag Lloyd vessel reported hit as Houthis attack commercial shipping on a daily basis New Houthi strike on boxship reported, as fate of boarded bulker still unclear Houthis have been attacking commercial shipping on an almost daily basis this week

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DECEMBER 15, 2023

Why attacks on container ships caused container stocks to jump Container-ship route diversions - first to avoid the Panama Canal, now to avoid Red Sea chaos - could help offset rate pressure from newbuilding deliveries. DHL Express workers extend picket lines across US Striking airport workers at the DHL Express hub outside Cincinnati have picked up support from union members around the country, slowing customer shipments. Turkish Airlines picks Airbus over Boeing for widebody freighter order Turkish Airlines said it plans to buy five large freighters from Airbus. Swiftair to add 1st A321s to freighter fleet Spain-based Swiftair plans to lease a couple Airbus A321 modified cargo jets next year. Air cargo market: From 'doom mongering' to stability After two consecutive years of negative growth, air cargo is shaping up for a rebound in 2024, according to the International Air Transport Association and industry experts.