Crowley-Esvagt JV picks Fincantieri Marine Group to build Jones Act SOV Fincantieri Marine Group (FMG) has reached agreement on a contract with CREST Wind, a joint venture between Crowley and Crowley and Esbjerg, Denmark-headquartered Esvagt, to design and build a 288-foot HAV 832
Euronav seeks arbitration on Frontline merger walk away The drama following the collapse of the planned tanker mega merger of Euronav and John Fredriksen's Frontline continues. On Monday, the Saverys family demanded that Euronav call a special general meeting with
Solvang opts for propulsion optimization for EEXI compliance To meet the new EEXI regulations, Norwegian operator Solvang ASA has selected MAN Energy Solutions after-sales division, MAN PrimeServ to perform a radical and extensive optimization of the propulsion drivetrain of a
MCS Industries wins default judgment of nearly US$1 million against MSC Mediterranean Shipping Company must pay US furniture maker MCS Industries reparations of almost US$1 million after the US Federal Maritime Commission (FMC) awarded default judgment to MCS in its breach-of-contract complaint against MSC. FMC judge Erin Wirth cited MSC's "willful and deliberate failure to provide discovery" as the Swiss-Italian liner giant had repeatedly failed to comply with the F
Tanger Med sees container traffic record levels Tanger Med's Port complex handled 7,596,845 TEUs in 2022, a 6% increase over 2021. Port officials noted that over the last year, excellent production levels were attained, and the previous record of 700,000 TEUs handled per month was surpassed. Meanwhile, Tanger Med Port Complex handled over 107 million tons in 2022, representing a 6% growth over 2021. This traffic is estimated to account for aro
Port of Gothenburg sees electric trucks easing container flow Skaraslättens Transport deployed two electric trucks to the port of Gothenburg in Sweden with a third one joining them shortly to facilitate the container flow. The Swedish transportation firm hauls 850-900 containers daily to all Swedish container ports and most of them go to the port of Gothenburg. "Economically, it's a challenge, and it's an investment with a longer payback time. So customers
HHLA Next, FERNRIDE to jointly launch pilot project at Estonian box terminal HHLA Next, the innovation unit of the German port operator Hamburger Hafen und Logistik AG (HHLA), is investing in the Munich-based start-up FERNRIDE and the two companies will jointly run a pilot project for highly automated and electric container logistics at the Port of Muuga's HHLA TK Estonia Terminal in Tallinn. HHLA Next is investing in FERNRIDE's solution to further advance automation and
Port of Helsinki reports over 490,000 TEUs in 2022 Port of Helsinki handled 492,000 TEUs in 2022, which represents a 5.4% growth compared with the previous year's numbers. The Finnish port reported that 3.8 million tonnes of containerised cargo were moved through the port, while the overall cargo traffic of the port was 15.2 million tonnes, translating to a 5.6% increase year-on-year. The aforementioned cargo volume splits into 7.7 million tonnes
Liebherr proceeds with crane upgrade projects in Australia and US Liebherr Container Cranes has completed its first ship-to-shore lifting height project with the new patented lifting system, as part of the Liebherr Transform project, at Patrick Terminals - Brisbane Autostrad in eastern Australia. Additionally, Liebherr announced that it is going to extend the outreach and the lift height of the cranes in GCT New York LP. Liebherr has two ship-to-shore (STS) con
Port Houston records nearly 4 million TEUs in 2022 Port Houston had its busiest year in history increasing its container volume by 14% year-on-year and reaching around 4 million TEUs. In particular, Port Houston handled 3,974,901 TEUs, which is nearly double the amount recorded six years ago in 2016 and 492,526 TEUs greater than the volume reported in 2021. At the same time, the port's total tonnage increased 22% year on year, setting a new high
Hapag-Lloyd simplifies shipping documentation for Middle East customers Cargo interests in the Middle East now have an opportunity to relieve the generally onerous shipping documentation burden as they seek multiple amendments closer to the shipment date. Hapag-Lloyd has introduced online B/L amendment tools as part of its new customer-centric strategy. Under the digital mode, customers will receive draft amendments within two hours of placing a request through the c
Geodis becomes shipping agent of Zéphyr & Borée in France Geodis has entered into a collaboration agreement with Zéphyr & Borée, a French start-up pioneer in low-carbon marine transport that specialises in the construction of sail-powered cargo ships. Zéphyr & Borée has appointed Sealogis, a subsidiary of Geodis, as its French shipping agency. As an agent, Sealogis will be in charge of presenting, promoting, and selling Zéphyr & Borée's services to its
Mainline operators cut 27% of Europe and Mediterranean sailings The first seven weeks of 2023 have seen 27% of Asia-Europe sailings axed as carriers respond to collapsed demand, according to Alphaliner's report. Alphaliner's calculations state that normally, from 1 January to 17 February, there would be 196 sailings from the carriers' 18 Far East-North Europe and 10 Far East-Mediterranean services. However, the carriers' most recent forward schedules for the
APM Terminals Port Elizabeth built helipad to improve safety standards Port Elizabeth in New Jersey has installed a helipad at the port site as the inability to clear the way for medical vehicles was a serious concern due to the high demand and traffic volume. APM Terminals Port Elizabeth handles more than 2,500 trucks and 5,000 terminal gate transactions every day and rising. Therefore, Port Elizabeth's Health, Safety, Security and Environment (HSSE) team called on
Georgia Ports handles almost 6 million TEUs in record container year The Georgia Ports Authority (GPA) handled a record 5.9 million TEUs in 2022, translating to a 5% increase over 2021. In the previous year, the Port of Savannah had four of its best five months for container volume, while in August the port reached an all-time high of 575,500 TEUs. The Port of Savannah expects to increase annual capacity from 6 million to 7.5 million TEUs in 2023, and to 9 million
CMA CGM revises peak season surcharge from Mediterranean to Canada Marseille-headquartered container line CMA CGM has announced the revision of the peak season surcharge (PSS) from the Mediterranean to Canada's East Coast. The new surcharge will be effective from 17 January (date of loading) until further notice and will be US$1,750 per 20'ST and US$1,600 per 40'ST and HC for dry, reefer, out of gauge (OOG) and breakbulk cargo. The aforementioned surcharges will
Port of Oakland sees box volume fall in 2022 Container volume dropped in the last month of the previous year for the port of Oakland in California, US, while the total box throughput at the end of the year was 2.3 million TEUs, marking a noteworthy 4% decrease from the 2021 numbers. The port's total loaded container volume in December 2022 declined 8.1% from the same month in the previous year, recording 123,868 TEUs. At the same time, empt
RoadOne acquires intermodal service provider in Texas RoadOne IntermodaLogistics, a US supplier of intermodal, warehousing, and logistics services announced the purchase of The Transporter, a major regional intermodal service provider with offices in Houston, Dallas, and Laredo, Texas. With this acquisition, RoadOne expands its commitment to the Southwest area of the United States. Since November 2022, RoadOne has announced the opening of a new Hous
Longship books four eco newbuilds in Turkey Dutch shortsea operator Longship has ordered four "ultra-low-emission" 8,600 dtw general cargo vessels at Atlas Shipyard in Turkey. The Groningen-based firm said it had developed an innovative ship design together with fellow naval architect Ankerbeer that features a diesel-electric propulsion system that generates a reduction in consumption of about 45% compared to the currently dominant ...
MOL and Karpowership JV seals Senegal FSRU financing A joint venture between Turkey's Karpowership and Japan's Mitsui OSK Lines, KARMOL, has received financing from Japanese banks for a floating storage and regasification unit (FSRU) in Senegal. KARMOL reached a deal with Japan Bank for International Cooperation (JBIC) and MUFG Bank through Senegal LNGT Company for an amount up to $71m. The FSRU will ...
Ørsted takes full control of New Jersey offshore wind project Ørsted has acquired full ownership of the 1.1 GW offshore wind project Ocean Wind 1 off the coast of southern New Jersey in the US. The Danish utility has snapped up the remaining 25% stake from Public Service Enterprise Group's (PSEG) 25% equity stake for an undisclosed sum. "As Ocean Wind 1 has evaluated the ...
Fugro picks up Petronas survey contract off Brunei Dutch surveyor Fugro has won a contract from Petronas Carigali Brunei for the Kelidang Cluster gas field development project. The deal, described as sizeable, will see the Leidschendam-based company carry out various site characterisation surveys to support the front-end engineering design for offshore production facilities and the pipelines to prospective buyers onshore. Geotechnical and geophys
Erik Thun returns to Ferus Smit for eight more newbuilds Sweden's Erik Thun has placed an order at the Dutch yard Scheepswerf Ferus Smit for eight new vessels. The deal includes four next-generation Troll-Max multi-purpose dry cargo for operating in Trollhätte canal and on the lake Vänern in Sweden and four coastal tankers, ordered by Thun Tankers, adding to the two previously booked R-class units ...
AD Ports to help develop Kazakhstan maritime In the presence of the UAE president Sheikh Mohamed bin Zayed Al Nahyan, and the president of Kazakhstan Kassym-Jomart Tokayev, AD Ports Group has signed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a memorandum of understanding (MoU) with the Ministry of Industry & Infrastructural Development for strategic cooperation in the development ...
Rem Offshore awarded CSOV charter on RWE's UK offshore wind giant Norway's Rem Offshore has landed a long-term charter for its newbuild construction service operations vessels (CSOVs) Rem Power. A two-year contract, with options to extend, will see the 85-m-long vessel operate on the 1.4 GW Sofia offshore wind farm in the UK North Sea - the largest offshore wind project in RWE's current portfolio. The ...
Euronav deploys lawyers, seeks way to resuscitate Frontline merger Euronav has deployed lawyers, seeking to resurrect the nixed merger plans with rival Frontline. The Belgian tanker giant today revealed it has filed a request for emergency arbitration over John Fredriksen-controlled Frontline's decision earlier this month to cancel plans for a combination agreement, something that had originally been approved by both boards in July last ...
Indian tanker newcomer buying ships at a rapid clip Indian newcomer Gatik Ship Management's fleet of older tankers has ballooned to 25 ships in a year. Fleet register Equasis shows that the shy Indian player added nine tankers in December alone, cementing its spot as one of last year's most dedicated tanker newcomers. One of the latest deals under its name includes a scrubber-fitted ...
Tsakos concludes suezmax order switch in South Korea Brokers report that Greek owner Tsakos has successfully negotiated the conversion of two 2,782 teu container vessels in South Korea into contracts for a pair of 158,000 dwt suexmax tankers, to be built by Hyundai Heavy Industries. "This move marks a shift from the container market, which is now in oversupply and is also threatened ...
China's top vehicle manufacturer orders seven car carriers SAIC Anji, the fast growing logistics subsidiary of China's giant car manufacturer SAIC, has confirmed its latest round of fleet expansion, signing for a total of seven 8,900 ceu car carriers on home soil. The order has been split between two yards, with Jinling taking four ships and Jiangnan the remaining three. No official price ...
Guyana's EPA to review Esso E&P Guyana application to develop offshore Whiptail project Esso Exploration and Production Guyana Limited (EEPGL) has submitted an application to Guyana's Environmental Protection Agency (EPA) for approval to undertake its Whiptail project in the Stabroek Block, offshore Guyana. In a public notice on its website, the EPA said it "has determined that this project may significantly affect the environment and so, will require ...
Tanker damaged in fatal explosions is linked to vessel identity laundering fraud The IMO and Thailand authorities had been informed of tanker's obfuscation in 2021, according to fraud research group
NorthStandard chiefs say merger 'now unstoppable' 'Inevitably there is an element of anxiety which arises because people aren't sure what role they are going to be...
Dynagas confirms $780m LNG trio at Hyundai 'There is great optimism' about LNG outlook for shipping, says owner
Falling container spot rates offer shippers hope in contract negotiations Spot rates are below breakeven for carriers on many trades. At that point, it begins to make sense to lock...
Piracy incidents in Singapore Strait at seven-year high Around 65% of all incidents in Asia last year were in the Singapore Strait, according to monitoring group
Eurochem hires Cofco's La Rosa to run freight desk La Rosa will run the freight desk at fertiliser producer Eurochem
Over half of all Ukraine's exported cargo moved by sea Ukraine attributed the normalisation of trade logistics in part to the implementation of the Black Sea Grain Initiative and increase...
Investor appetite in dry bulk increases driven by attractive supply side Dry bulk sector still has legs, mainly due to supply-side considerations with limited ordering and a low orderbook combined with...
VLCCs to benefit from China-dominated global oil demand growth Global fleet of the largest tankers mostly used for Middle East Gulf-Asia trades
Tonnage backflow builds pressure on intra-Asia trade Freight rates and charter rates are expected to remain in the doldrums in the next few weeks or even throughout...
Carriers cut a quarter of Asia-Europe capacity as demand falls Container lines are cutting capacity rather than running at low load factors. But even this has failed to stem the...
Erik Thun boosts orderbook with eight ships Four 'trollmax' multi-purpose dry cargo ships and four 7,999 dwt products tankers have been ordered from Ferus Smit of the...
MOL secures $71m loan for FSRU in Senegal FSRU will supply regasified liquefied natural gas to a Karpowership floating power plant, which will supply electricity to the West...
Shipping demands greater accountability from bunkering sector Measures are needed to ensure suppliers comply with best practices and to punish offenders, say technical managers
Blockchain-enabled guarantee of origin and marking can address well-to-wake Report suggests alternative methods, such as blockchain-enabled guarantee of origin and physical marking, to assess lifecycle emissions of alternative marine...
Euronav requests emergency arbitration with Frontline over failed merger Frontline is analysing an emergency arbitration request for urgent interim and conservatory measures
Daily Briefing Pool scheme reinsurance levy to rise for most vessel types | Transit times improve as supply chain congestion fades |...
US truckload spot market nearing its floor: analysts US dry-van spot rates appear to be stabilizing, but contract rates are dropping by double-digit percentages as new pricing and service agreements take effect.
Port of South Louisiana buys Avondale terminal as wind cargo boost looms The acquisition of Avondale by the port comes just as the state of Louisiana readies to auction its first round of offshore wind leases.
Market fallout from OSRA-22 to become clearer in 2023 Whether OSRA-22 - and increased FMC scrutiny - will produce tangible changes in how carriers and terminals calculate and convey detention and demurrage charges is still yet to be seen, as inaccurate invoices continue to plague shippers.
China keeps grip on global production, but search for options continues The pandemic-induced supply chain disruptions in China have left importers searching for more resilience and flexibility in their existing supply chains rather than racing for the exits.
China keeps firm grip on global production, but search for options continues The pandemic-induced supply chain disruptions in China have left importers searching for more resilience and flexibility in their existing supply chains rather than racing for the exits.
Asia-Europe capacity cuts grow as CNY fails to boost demand Carriers on the Asia-Europe trade have stepped up capacity management measures as demand weakens through the traditionally busy Lunar New Year period and beyond.
ECU parent forms investment partnership with logistics-focused VC firm A partnership between venture firm Northstar and India's Allcargo Group is meant to formalize their joint investment plans into logistics-focused startups over the next year.
Lower demand pushes Matson to forecast steep drop in shipping revenue and profit Hawaiian container ship owner and operator will see big drops in demand, revenue and profit for the last three months of 2022
SFL moves fast on raising $150m in sustainability-linked bonds Fredriksen company announces deal just days after starting talks with fixed-income investors
Fincantieri wins contract to build Crowley-Esvagt SOV Italian shipbuilder has built nine other service operation vessels for offshore wind
Dry bulk market upturn should start later this year and continue in 2025 onwards, says Fearnleys Shipbroking group thinks cyclical bottom of the market will come earlier this year than it had previously expected
LNG fleet under-utilisation looms for 2024-2025 as new deliveries outstrip supply US LNG forecast to continuing flowing to Europe in 2023 but Chinese demand also set to grow
Russia keeps moving oil as exports shift to western ports and 'unknown' buyers Rystad Energy says the embargo and price cap has not yet stemmed the flow of Russian oil
Tanker market set fair until at least 2026 as low orderbook drives up rates Astrup Fearnley energy conference hears of prospect of gains in the sector despite a sticky six months ahead
Crew abandon ship after Seven S lists in Italian port Investigation launched into role of crew and loading procedures
Green Seas: EU-funded research finds scrubber discharge harm at the tiniest of concentrations Environment newsletter talks to a scientist about findings that will inform discussions over the impact of scrubbers on the sea
Surging prices delay UN plan to offload oil from 'time bomb' tanker UN claims costs of obtaining a suitable VLCC to help prevent a major oil spill from decaying FSO Safer have gone through the roof
Melina Travlos' Neptune Lines expands into onshore logistics Greek car carrier company hires outsider to head new entity called Neptune Land Services (NLS)
Baumarine by MaruKlav pool finishes 2022 strongly as it redeploys bulkers Klaveness and Marubeni venture moved vessels from Pacific to Indian Ocean in December to beat Baltic Exchange benchmark
IEA: Russian oil discounts hit revenues as tanker trade goes long-haul Urals crude prices down sharply after the EU import ban comes into force
Yasa Shipping ups the ante on bulker newbuildings, denies VLCC sale Major Turkish owner is said to be extending its bulker newbuilding orderbook with ultramaxes in China
Evangelos Marinakis' Capital Gas bumps up LNG fleet with fresh orders and secondhand buy Additional vessels will give Greek owner five open under-construction ships and a 20-year-old LNG carrier with which to play
Lines to axe one quarter of Asia-Europe sailings as demand slumps There are early signs that capacity management is starting to pay off
US eases curbs on tankers controlled by 'Ukraine oil smuggler' Sanctions body allows payments so 11 ships can dock for repairs and crew health and safety issues
Shippers moving supply chains closer to home after disruptions, report argues Extended Covid lockdowns, Ukraine war, inflation and increasing protectionist policies are all having an impact, according to ports group DP World
Stolt Tankers re-routing ships and cutting speeds to protect whales Stolt-Nielsen chemical carrier company is following IMO advice on marine mammal welfare
Close John Fredriksen advisor Gunnar Eliassen walks out on Seatankers Director leaves private shipowning group, but reports suggest he will retain some other Fredriksen company board positions for now
Thenamaris tanker rumoured sold for record price amid 'crazy market' The hunt for ice-class oil carriers after sanctions against Russia may have produced yet another benchmark deal
Pelagic Partners beefs up team with ex-KPMG asset guru Michalis Vasiliou Cyprus shipping fund brings in experienced finance man as it expands tanker and offshore wind fleet
MISC Berhad partners with Mitsui, Samsung Heavy and Andritz in big carbon capture push Partnerships to explore opportunities on carbon capture and storage solutions in the maritime value chain
Erik Thun orders eight tankers and multipurposes in the Netherlands Swedish owner expands wet and dry capacity with deal at Ferus Smit
KARMOL clinches $71m loan for FSRU project in West Africa Japanese financial behemoths are lining up behind LNG-to-electricity project in Senegal
Buy Danish: Norden's lucrative trading arm valued at 'next to nothing', Clarksons says Analysts say short-term fleet of 450 vessels gives 'enormous' earnings potential
George Economou expands orderbook with product tanker trio in China Greek shipowner ordered a total of seven tanker newbuildings worth about $460m in one month
Surging prices delay UN plan to offload oil from 'timebomb' tanker UN claims that the costs of obtaining a suitable VLCC to help prevent a major oil spill have gone through the roof
Euronav files for 'urgent' emergency arbitration to halt Frontline's merger exit Belgian tanker owner will also launch a bid for arbitration over the merits of the decision by the John Fredriksen company
Yasa Shipping makes swift VLCC exit with lucrative asset play Major Turkish owner takes home profit from big tanker and ups the ante on bulker newbuildings
One of Singapore's largest cases of trade financing fraud sees CFO get 20 years Financial institutions said to have suffered total losses of around $469.1m
Former Agritrade CFO jailed for 20 years for part in defrauding banks Executive said to have taken part in one of Singapore's largest cases of trade financing fraud
Yangzijiang inks deal for 'pricey' self-unloading bulker newbuildings Canada's Algoma is being linked to an order for up to four 80,000-dwt newbuildings
Resorts World Cruises takes on another former Genting Hong Kong cruise ship Lim-family controlled cruise company boosts fledgling fleet to two ships
Port of Virginia sees record volumes in 2022 2023 was a banner year for the Port of Virginia, with annual volumes higher year over year as more traffic went to East Coast ports.
Georgia Ports sails to record year despite choppy waters "It was a challenging year, but collaborative effort across Georgia's supply chain ensured cargo movement remained fluid," Executive Director Griff Lynch said.
NASA's historic chopper haul NASA hauls the longest heavy cargo delivery; Reefers run food to the Bahamas; Submarine cables connect the Virgin Islands.
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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