Offshore wind installation mega merger in the works Two of the largest players in the offshore wind installation market are planning to combine. Cadeler A/S (OSE: CADLR) and Eneti Inc. (NYSE: NETI) today reported that they have entered into an
VIDEO: Lyman-Morse Fabrication launches new landing craft series With landing craft type workboats demonstrating their versatility in a broad range of applications, Thomaston, Me., based Lyman-Morse Fabrication has launched its the LMF 33 landing craft as its newest workboat project.
Container traffic at Saudi ports increase in May Saudi Ports Authority (Mawani) reported 709,944 TEUs in May, translating to an 18.8% year-on-year growth. Data coming out of Mawani's ports show a 28.18% increase in exports to 224,718 with imports jumping 35.98% to 236,358 TEUs in May 2023. Additionally. transshipments inched up by a marginal 0.15% to 248,866 TEUs in the previous month. On the other hand, overall cargo throughput was 6.12% lower
Container ships spend fewer days in port: SSE The average number of days for which container vessels were in port at the world's 20 busiest box ports decreased from April to May by 4.7% to 1.79 days, according to the Shanghai Shipping Exchange (SSE). Additionally, if we compare May 2023 with May 2022 we see a large decline of 24.8%. At China's nine major ports, container ships stayed for an average of 1.42 days, a decrease of 3.4% from 1.47
MPCC buys five modern eco-design container vessels Norwegian vessel owner MPC Container Ships acquired five modern eco-design vessels for a total price of US$136.4 million. These vessels have existing charter contracts with top-tier counterparties, further strengthening the company's revenue-generating capabilities. Constantin Baack, CEO of MPCC, commented that the inclusion of five young, eco-design vessels enhances the overall composition of th
New European green hydrogen corridor between Bilbao and Amsterdam Port of Bilbao, the Basque Energy Agency (EVE), Petronor, SkyNRG, Evos Amsterdam, Zenith Energy Terminals and Port of Amsterdam, are joining forces for the development of a new green hydrogen corridor between Bilbao, Spain and Amsterdam, the Netherlands. The corridor focuses on the maritime route between the two European ports. The port of Amsterdam noted, "we want to develop a green hydrogen sup
Yara Clean Ammonia and Cepsa form alliance to supply clean hydrogen to Europe Yara Clean Ammonia and Cepsa have decided to form a strategic cooperation to build the first clean hydrogen maritime corridor connecting the ports of Algeciras, Spain and Rotterdam, the Netherlands in order to decarbonise European industry and maritime transport. The collaboration with Yara Clean Ammonia will aid in the establishment of a secure, resilient, and cost-effective supply chain for pro
New intermodal rail services to boost Port Houston volumes From January to May 2023, Port Houston terminals handled 1,542,392 TEUs, representing a 2% decrease from the previous year's record-breaking levels. Import volumes in Houston continue to fall, as witnessed in other markets around the country. Following last May's record year, the Port handled 139,745 TEUs in loaded imports in the previous month, a 12% year-on-year decrease but still the second-hi
APM Terminals Gijón receives new Post-Panamax crane APM Terminals Gijón celebrated the commissioning of a Post-Panamax QC903 crane, which has a capacity for 40 tons of nominal load, 33 metres of height under spreader and a 16-rows outreach. These dimensions have already proven suitable for larger vessels at the Osa quay, according to APM Terminals. The ship-to-shore crane arrived from Valencia port at the end of January and aims to enhance the Spa
US West Coast ports and shippers releived after PMA/ILWU labour contract Several parts of the US West Coast shipping sector have welcomed the tentative agreement between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) after a long period of negotiations. California's key container ports, which saw operational challenges from port worker actions during the negotiations, applauded the representatives of the aforementione
Demand rebound loses some steam in April, reports Sea-Intelligence Sea-Intelligence reported that in terms of TEU*Miles (which also accounts for the distance a container has to travel), there was a sharp 6-month growth reduction that reverted to "only" a minor level of growth decline in March 2023. "This new trend continued in April as well, albeit somewhat less strong," noted the Danish maritime data analysis firm. Sea-Intelligence analysts explained, "When we
Port of Long Beach approves US$634.5 million annual budget The Long Beach Board of Harbour Commissioners approved a US$634.5 million budget for the Long Beach Harbour Department, which included a record-breaking transfer to the City's Tidelands Operating Fund, which funds projects along Long Beach's coastline. The budget for the fiscal year beginning on the first of October is 7.4% decreased than the budget passed last year. Operating revenue is expected
MABUX reports increase in global bunker indices Marine Bunker Exchange (MABUX) reported a moderate upward movement in global bunker prices during the 24th week of the year. The 380 HSFO index rose to US$481/MT, the VLSFO increased to US$602/MT and the MGO index climbed to US$794/MT. "At the time of writing, the market was in an upward trend," noted a MABUX official in the their weekly report. The Global Scrubber Spread (SS), or the price diffe
China stimulus talk fails to lift dry bulk Beijing is readying a stimulus package to boost its stuttering economy following the central bank's interest rate cuts earlier this week. How much of a boost the increased spending will be to the deflated global dry bulk scene remains to be seen. JPMorgan Chase, UBS and Standard Chartered all trimmed their 2023 gross domestic product ...
Fire hits Beks cape off Russia A fire broke out today onboard the Turkish-owned capesize bulk carrier some 85 km south of the Russian Nakhodka port in the Sea of Japan. The Marshall Islands-flagged 177,200 dwt ship, fleet register Equais listed as owned by Istanbul-based Beks Ship Management and Trading, was sailing from China to load coal in the port of ...
Floatel accommodation vessel to stay with Vår Energi Offshore accommodation platform operator Floatel International has been awarded a charter by Vår Energi to provide accommodation support to the Jotun FPSO in 2024.
US Treasury: Russia oil price cap is working The oil price cap policy is cutting Russia's revenue, a senior official at the US Treasury has maintained. Speaking at the Center for a New American Security (CNAS), Wally Adeyemo, deputy secretary of the treasury, said yesterday: "In just six months, the price cap has contributed to a significant decline in Russian revenue at a ...
TechnipFMC pens 20-year framework deal with Chevron Australia UK-based subsea company TechnipFMC has signed a 20-year framework agreement with Chevron Australia for the provision of subsea production systems.
Offshore wind giant formed as Sohmen-Pao and Lauro merge Cadeler and Eneti Two titans of shipping, Andreas Sohmen-Pao and Emanuele Lauro, are combining forces in the offshore wind arena through a merger deal between the sector's major construction players, Cadeler and Eneti. The merger takes place through a stock-for-stock exchange, where each Eneti share can be exchanged for 3,409 Cadeler shares. The proposal values each outstanding Eneti ...
Kim Heng inks MoU for development of South Korean offshore wind projects Kim Heng has inked a non-binding memorandum of understanding with KOMS Co. Ltd. to cooperate on offshore wind farm projects and other offshore projects in South Korea.
Low carbon economy and crew management Craig De Savoye, commercial director at Protection Vessels International, on how crew managers can utilise a place-based model to support a just transition. I'm not a climate change activist - I am a pragmatist and as a pragmatist, and a commercial director, I spend time trying to look over the horizon to determine what awaits ...
Petrofac and Wood Group workers in UK to strike over pay dispute UK's largest offshore trade union Unite informed that offshore workers employed by Petrofac on the FPF1 platform, and Wood Group on TAQA platforms would resume strike action next week.
Shipping's carbon revenues must be distributed beyond maritime for equitable transition, World Bank says The World Bank says the shipping industry should consider contributing to climate mitigation spending with carbon revenues to help developing...
US west coast labour talks: There must be a better way Carriers will welcome the six-year settlement between port employers and dock worker representatives announced this week. But it's time to...
Indian west coast ports shut for cyclone The ports remain shut after the cyclone's landing on June 15
Lomar buys three kamsarmaxes from Shagang Steel Triple bulker acquisition is unveiled same day as sale of five boxships to MPC Container Ships is confirmed
MPC Container Ships buys five feeders as it offloads 'non-strategic' panamax MPC Container Ships paid $136.4m for the modern eco boxships, which come with charters attached to CMA CGM and Maersk
Political influences further slow Ukrainian grain exports Political forces continue to impact the functioning of the initiative, which is designed to support global food security by stabilising...
Port co-operation can reduce infrastructure investment Port authorities compete with each other to win funding. But a co-operation would make a better model to optimise investment
K Line sets up Singapore arm to strengthen shipmanagement services and maritime technologies K Line Marine & Energy will help encompass the parent company's capacities in shipmanagement, maritime technology, human resources and operational...
Cadeler-Eneti merger to create offshore wind juggernaut The combined company, which will be known as Cadeler and will be headquartered in Copenhagen, will have seven wind turbine...
Glittering Greek Shipping Awards turn 20 As their 20th anniversary event approaches, the Greek Shipping Awards can reflect on a remarkable voyage that has already seen...
Knutsen NYK Carbon Carriers in tie-up to transport LCO2 in Australia KNCC recently gained DNV approval for its proprietary LCO2-EP containment system technology, which paves the way for newbuilding orders to be...
Peak season hopes fade as container spot rates fail to budge Weak volumes continue to keep a lid on freight rates. Carriers will need to review their peak-season strategies
Howden acquires Northern Lloyd Development comes after launch of marine-focused Howden Norway earlier this year
Will shortage of ships undo Greece's LNG terminal plans? The war in Ukraine has presented Greece with an opportunity to play a greater regional energy role, which has led...
Greek ferries face funding gap for 'green' renewal Attica Group and Anek Lines have agreed to merge in the latest round of market consolidation but are waiting for...
Ability counts more than gender in Greek cluster Athens is hailed for hosting 'more women in leading roles' than other maritime hubs
Chinese port giants grapple with volume contraction amid weak trade demand Respective container throughput levels reported by Cosco Shipping Ports and China Merchants Port Holdings were down for the first five...
Eastern Pacific notches up century of LNG bunkering operations The newcastlemax Mount Tai is slated for spot trading on the West Australia to Northeast Asia green corridor. Accepting the...
Daily Briefing ILWU and PMA announce long-awaited tentative agreement on new west coast labour contract | Shippers wary of carbon tax being...
CTM takes another new Japanese bulker in drive for fuel efficiency Chief executive John Michael Radziwill says new ships with conventional fuel can yield huge reductions in emissions, but group will not snub...
The Lloyd's List Podcast: What's keeping MOL chairman Junichiro Ikeda awake at night? The Lloyd's List Podcast moves to Japan this week, where MOL chairman Junichiro Ikeda shares his insights about what he...
UPS Teamsters authorize strike as contract talks enter final weeks The International Brotherhood of Teamsters and UPS say they've made progress on non-economic issues, but there's still heavy lifting ahead for the largest labor pact in the US private sector.
Cadeler, Eneti combine to create $1.3 billion wind installation vessel operator The merger of wind installation vessel operators Cadeler and Eneti, which already have a combined project backlog worth $1.75 billion, was driven by an expected surge in offshore wind farm projects through 2030, Cadeler CEO Mikkel Gleerup told a webinar Friday.
La. Governor aims to restore funds for new Port NOLA terminal Louisiana's state legislators made a surprise cut to funding the Port of New Orleans planned to use for the design and planning of a new $1.5 billion mega-terminal.
Teamsters-ABF pact would boost LTL wages, limit driverless technology Leaders within the International Brotherhood of Teamsters have endorsed a tentative contract reached with ABF that would set a high bar for other unionized carriers in the largely non-union less-than-truckload sector.
West India ports reopen to limited operations after cyclone Some inland logistics services have resumed, but vessel movements at the ports of Pipavav and Mundra remain suspended due to disruption stemming from Cyclone Biparjoy.
Chassis providers rehabbing fleets as costs for new units remain elevated With demand in ports and rail hubs weak, chassis providers are turning their attention to refurbishing older, less-reliable units, a process that is expected to take years to complete.
Resilient US trucking revenues could slow capacity adjustments: analyst Despite a sharp decline in rates amid slowing demand and higher costs, total revenue for truck transportation companies remains elevated, and that could keep capacity in the market longer, writes Professor Jason Miller.
Eneti shares climb as investors digest details of merger with Cadeler Stock of New York-listed WTIV player on pace to trade 10 times normal volume on combination news
Capesize spot rates tread water as China's economic recovery continues to stall dry bulk Seasonality is also exerting downward pressure on the stagnant sector, market expert says
Editor's selection: World Bank wades in to carbon levy debate, Greeks after big tankers and wind farm shipping giant formed Which stories are making headlines this week?
Oaktree 'indirect' stake revealed in MLEP chemical carrier fleet Private equity giant Oaktree, with a tanker captain on its London team, has ambitions in chemical tankers
Video: Transmed's Nicole Mylona says efficiency upgrades not fully recognised in the way ships are rated CEO thinks RightShip greenhouse gas ratings have too much weight in dry bulk shipping, although chairman Jan Dieleman says they have been 'extremely successful'
Suezmax newbuildings buck trend with Russian trades Fleet hauling Russian barrels is older than the mainstream tanker fleet but can secure higher rates
US vows to tackle oil price cap evasion through industry Biden administration official says it is working with international partners and the private sector, but says problem is not widespread
Polembros grabs early suezmax slots at New Times Shipbuilding in China Keen to secure modern vessels to serve clients, traditional shipowner books its first tankers in several years
Video: Transmed's Mylona says efficiency upgrades not fully recognised in the way ships are rated CEO thinks RightShip greenhouse gas ratings have too much weight in dry bulk shipping, although chairman Jan Dieleman says they have been 'extremely successful'
Cadeler's Mikkel Gleerup 'humbled', 'happy' and ready to give his all in wake of Eneti merger CEO says he may be a little low on sleep now, but the company is buzzing about the tie-up with Eneti
UK's Lomar Shipping pumps proceeds of container ship sales into bulk carriers UK shipowner linked to purchase of three panamaxes following sales to MPC Container Ships
OCI ready to meet demand as it argues bio-methanol is not 'second-class' fuel Dutch producer's methanol boss Bashir Lebada tells TradeWinds why bunkers produced from waste should not be overlooked
'Good sense': Cadeler and Eneti shareholder J Lauritzen backs merger Boss Kristian Morch says Danish investor will retain stake in combined wind farm vessel giant
FueLNG puts next large LNG bunker vessel to work in Singapore New 18,000-cbm LNGBV supplies fuel to Eastern Pacific Shipping bulker in first commercial operation
Give a clear direction to decarbonise or fail, Ardmore CEO warns regulators Anthony Gurnee said delays in preparing a pathway to lower emissions was an increasingly 'self-harming roadblock'
Sanctioned GTLK orders 34 cargo ships at Russian state shipyard Krasnoye Sormovo Leasing company will take delivery of RSD59-type vessels until the start of 2027
MPC Container Ships swoops for Lomar Shipping feeder quintet German tonnage provider spends $136.4m for five ships and sells older panamax for $22m
Two seafarers injured as Beks capesize bulker hit by fire off Russia Crew members taken to hospital after blaze broke out in engine room
World Bank adds weight to $3.7trn carbon levy as crunch IMO carbon talks near Report details how carbon price trillion-dollar fund could be distributed to cut emissions and support climate aims
Stena finance director Peter Claesson appointed Swedish Club chair Lennart Simonsson steps down from Swedish Club board after 16 years
Castor Maritime flips kamsarmax bulker for quick $4m profit Cypriot owner offloads bulker bought as part of massive fleet expansion
Lower emissions, higher rates: First performance-linked charter deal draws closer Index gives accurate, real-time readings of vessel performance for use in chartering, sale and purchase and even bank financing
Looming tonnage crisis could extend life of tankers, says Socatra's Laurent Bozzoni London conference hears that 27% of the larger tanker fleet is aged more than 15 years
Bosses eye savings of $116m per year from Cadeler and Eneti merger Cadeler chief executive Mikkel Gleerup will run combined company, as Eneti boss Emanuele Lauro joins the board
Japan's K Line sets up a new safety support company in Singapore K Line Marine & Energy will develop ship safety and quality management for crew in handling new fuels and technologies
Videos: Why Marinakis and Angelicoussis are sticking with LNG Picking what type of engine to use is a challenge for Capital Maritime chairman, but for now his mind is made up
Tanker churn: Pool operators face unique challenges in hot markets, says UPT Rates are higher, but shipowners have more options in a rising market, Columbia Group manager says
Comment: Is shipping automation ready for 'everything, everywhere, all at once'? ... or could proposals for more trials and a stepped approach look to be a better way ahead?
Kim Heng targets South Korean wind sector in co-operation with Koms Co Thomas Tan-led company is hoping to gain a slice of South Korea's lucrative upcoming offshore wind projects
Japanese wind could see classification competition, but ClassNK still holds the advantage Foreign class societies could make in-roads, but 'we accumulated experience' in Japan, ClassNK head says
Supertanker rate roller coaster: Surprise spike to $91,000 per day The International Energy Agency predicts Asia will buy growing volumes of U.S. crude through 2028. That's good news for supertanker demand.
FEMA charters Ukrainian cargo airlines for Guam relief U.S. law protects American carriers from foreign competition on domestic routes. Two carriers want the government to give them first crack at contracts to fly disaster relief to Guam.
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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