Why "Ag Coast"ports are backing Port NOLA's new $1.8 billion container terminal The Port of New Orleans is pushing ahead on its plans to develop the new Louisiana International Terminal (LIT). The new $1.8 billion state-of-the art container terminal will eliminate air-draft restrictions that
Maersk and CMA CGM team up on green fuels Container shipping and logistics giants Maersk and CMA CGM have decided to collaborate on several areas relating to decarbonization, particularly on developing the use of alternative greener fuels for container vessel propulsion.
Innovative Uses of Shipping Containers as Storage Spaces The humble shipping container has witnessed a remarkable evolution over the past few decades. Initially designed solely for transporting goods across oceans, these sturdy steel boxes have now found a secondary, innovative use in the world of storage and even architecture. Their repurposing doesn't merely stem from a desire for novelty but is deeply rooted in practicality and efficiency. As urban
Follow these key steps to obtain a valid real estate legal license Entering the realm of real estate offers an exciting pathway to a rewarding and fulfilling career. Aspiring real estate agents seek to unlock the door to endless possibilities, navigating through a series of key steps to obtain a valid real estate license and thrive in this dynamic industry. From state-specific requirements and licensing exams to joining reputable real estate agencies, the journe
ShibataFenderTeam introduces tool for transparent carbon footprint assessment ShibataFenderTeam Group (SFT) teamed up with the independent consultancy company Ramboll in order to develop an exclusive assessment tool that provides Greenhouse Gas (GHG) emissions per individual order. More specifically, the new tool is based on ISO 14037:2018 and the analysis provided is built upon three pillars: sourcing, manufacturing and distribution (cradle-to-gate) of the ordered product
Konecranes receives RTG crane order for new box terminal in Colombia Eight rubber-tired gantry (RTG) cranes will enhance the cargo handling capabilities of a new container terminal in Puerto Antioquia, Colombia. The contract between Finnish manufacturer Konecranes and Puerto Bahia Colombia de Uraba, whose key shareholder is the CMA CGM Group, was signed in August 2023. The new RTG cranes are fully electric, powered by cable reels connected to the local grid. "Kone
Rhenus Group invests in Port of Amsterdam to enhance its European portfolio Rhenus Group has acquired a 49.99% shareholding in Rietlanden Terminals B.V. (Rietlanden), which operates two terminals located at the Dutch Port of Amsterdam, from JERA Global Markets. Rhenus said it will acquire the remaining 50.01% in 2027. Through this investment, Rhenus Group aims to strengthen its European network of ports and re-develop the terminals to cope with a future without coal. Fur
DP World introduces world's first remote pinning station at Southampton hub DP World has implemented a remote pinning station at its Southampton hub in the United Kingdom, the first of its type in the world, which will increase safety and productivity during a critical stage of port operations. 'Pinning' is the process of manually placing a twistlock into the corner casting of a container to keep it in place during a journey at sea. For the past 50 years, twistlocks were
Panama Canal limits fail to halt rate slide as box lines up capacity The Panama Canal transit restrictions have not stopped carriers from adding 20% of incremental capacity on the Asia-US East Coast route since the end of August, with the average capacity deployed over the last five weeks reaching 246,000 TEUs, compared to 204,000 TEUs in the preceding five weeks, according to Linerlytica's latest report. Capacity utilisation has slipped to 85%, as freight rates h
NWSA handles over 240,000 TEUs in August Northwest Seaport Alliance (NWSA), a marine cargo operating partnership of the ports of Seattle and Tacoma, reported that August container volumes reached 242,700 TEUs. Total container volume decreased 13.5% over August 2022 but grew 3.3% compared to the previous month. Full imports for the month decreased 19% while full exports decreased 10.6% but grew 15.4% versus July. Total TEUs declined 20.2
US box imports drop in August Container imports to the United States reached 21.9 million TEUs in August (based on volumes at ports of origin), falling 12.6% year on year, but increasing 0.8% from July, according to Descartes Datamyne. At the same time, exports from 10 major Asian economies accounted for 1.55 million TEUs, translating to a drop of 13.1% from a year earlier. This is the 13 consecutive monthly year on year decl
ICTSI expands its application Global port and terminal operator International Container Terminal Services, Inc. (ICTSI) can now help port users and businesses gain a competitive edge by providing real-time cargo visibility through the ICTSI App. The new application is a secure operative tool that enables port users and cargo owners to monitor the status of their shipments that are loaded and offloaded from a vessel, and those
Port of Huelva and Enagás sign agreement for renewable gas projects promotion President of the Port of Huelva, Alberto Santana, and CEO of Enagás, Arturo Gonzalo, have signed a protocol in Huelva, Spain to identify innovation opportunities in renewable gases such as hydrogen and BioLNG. This protocol lays the foundation for progress in decarbonising future logistics projects at the Huelva terminal. According to Enagás, "the agreement aims to establish the groundwork for co
Noble to reactivate jack-up for work offshore Argentina Offshore rig owner Noble has won a contract with French giant TotalEnergies for one of its harsh-environment jack-up rigs. As a result, Noble will redeploy its Noble Regina Allen rig for the drilling of three horizontal wells at the Fenix natural gas development off southern Argentina. The Fenix natural gas project is, according to Noble, ...
Rhenus taking over two bulk terminals in Amsterdam German logistics major Rhenus has sealed a deal with utility-backed JERA Global Markets to acquire Rietlanden Terminals, which operates two dry bulk terminals at the Port of Amsterdam in the Netherlands. Rietlanden has terminals at Afrikahaven and Amerikahaven in Amsterdam, with a combined storage capacity of around 2.6m tons, specialising in commodities such as coal ...
COSL snaps up four abandoned jackup rigs at DSIC in $446m deal Offshore driller China Oilfield Services Limited (COSL) is expanding its fleet with the acquisition of four jackup rigs abandoned by Seadrill at a compatriot yard. The company's subsidiaries, COSL Leasing and COSL Hainan Technical Services have agreed with Dalian Shipbuilding Offshore Co., a subsidiary of DSIC, to take the quartet for about $446m. Two of ...
Northland and Orlen secure $5.2bn for Baltic Power offshore wind farm Northland Power and Orlen have signed a $5.2bn credit agreement for the Baltic Power offshore wind project in Poland. Northland said that the loan adheres to its green financing framework covering construction and a 20-year term. The financing will be provided by 25 international and local commercial banks, multiple export credit agencies, and multilateral agencies. ...
Ithaca braces for six-day strike by Petrofac offshore workers Around 85 offshore workers employed by Petrofac are set to take strike action over six days on installations operated by Ithaca Energy in a long-running dispute over a 'clawback' policy. The Unite trade union said its members overwhelmingly rejected Petrofac's offer to reduce Ithaca's fourteen-day clawback policy by two days, adding that the industry norm ...
Lomar developing methane-reducing tech with Silicon Valley firm Lomar's new subsidiary lomarlabs has partnered up with Silicon Valley tech start-up Blue Dot Change for the development, design, and test of the start-up's compact nature-based catalyst dispenser set to accelerate the reduction of methane in the air. Blue Dot Change's simple, cost-efficient dispenser aims to accelerate the pace of nature's existing methane removal process ...
MISC and Nissen Kaiun strike LNG carriers sale and leaseback deal Malaysia's top shipping line MISC has struck a deal with Japanese shipping mammoth Nissen Kaiun for the sale and charter of two of its existing LNG carriers. The deal will see MISC transfer ownership of the vessels to Nissen Kaiun, and simultaneously enter into a charter agreement with Eaglestar and Synergy Marine as the shipmanagers. ...
CMA CGM and Maersk team up in decarbonisation drive Liner giants Maersk and CMA CGM have decided to join forces on several areas relating to decarbonisation, claiming today that the joint action will help accelerate the green transition in shipping, learning from each other to go further and faster and seeking other companies to come and join them. The two companies said they will ...
JSW Infrastructure readies $336m IPO JSW Infrastructure, the ports unit of Indian steel tycoon Sajjan Jindal-led conglomerate JSW Group, is looking to raise up to $336m through an initial public offering scheduled for later this month. The IPO of India's second-largest port operator in terms of cargo handling capacity will open on September 25 for subscription and close on September ...
Geoquip Marine wins work on MarramWind floating wind farm Swiss-based offshore geotechnical data acquisition specialist Geoquip Marine has won a contract for gathering crucial engineering data to support the proposed MarramWind floating offshore wind farm. Joint venture partners between ScottishPower and Shell, which is developing the 3GW MarramWind off the northeast coast of Scotland, chose Geoquip Marine for site exploration and geotechnical data coll
Pots of gold: VLGCs close in on more earnings records The VLGC segment has been the best-performing shipping sector of 2023, and with a strong Q4 on the cards, it is on track to beat the year 2015 and record its best-ever year. VLGC rates remain above $130,000 globally and have averaged more than $80,000 a day in the year to date, closing in on ...
DOF adds to backlog with $60m contract extension Norwegian offshore contractor and vessel owner DOF has signed a letter of intent with an oil major for the extension of a large subsea service deal in the Atlantic region. The Austevoll-headquartered firm said a one-year contract should start in November and generate about $60m in revenue. DOF, with a fleet of 54 ships of ...
Ukraine seeks further Romanian help in shifting grain exports Desperate to up the amount of grain it can transport Ukraine has asked Romania's Constanta Black Sea port to allow ship-to-ship grain transfers . The request was made by Ukrainian Danube Shipping Company (UDP), who claim the move would almost double its barge export capacity. With the end of the United Nations-brokered Black Sea Grain ...
Hapag-Lloyd establishes standalone ports division in Rotterdam Hapag-Lloyd is joining a host of top global carriers in carving out its terminals into a separate division. Dheeraj Bhatia will become a member of the executive board responsible for terminals at the German carrier from the start of next year. He will also become CEO of the new Rotterdam-based Hapag-Lloyd Terminal Holding, in which ...
Ocean Infinity wins survey contract for Equinor's floating wind project off California Houston-based marine robotics company Ocean Infinity has been awarded a survey contract by Equinor Wind US for one of the first-ever floating offshore wind farms on the US West Coast. Under the deal, Ocean Infinity will carry out a comprehensive site investigation survey using multiple AUVs (autonomous underwater vehicles) starting in February 2024. Last year, ...
Hitachi Zosen eyes methanol engine retrofits Japan's Hitachi Zosen is working with MAN Energy Solutions to offer clients methanol engine conversions plans amid rising inquiries for green retrofit solutions. Test operations will begin in 2024 at a Hitachi Zosen plant in Kumamoto prefecture, on Japan's southernmost main island of Kyushu. MAN estimates that 2,800 vessels with MAN two- and four stroke ...
Ammonia fuel producer expands into Houston Ammonia fuel producer Amogy has expanded operations to Houston with a new $40m, four acre site set to open early next year. "We chose Houston as the energy capital of the world because we wanted to be near customers, suppliers, and the right talent as we ramp up operations. We are eager to begin manufacturing ...
'Gas Kills': Greenpeace targets France's first FSRU Activists with environmental group Greenpeace managed to scrawl 'Gas Kills' on the hull of a LNG floating storage regasification unit (FSRU) in a protest as the vessel arrived in Le Havre yesterday. Greenpeace protesters in kayaks tried to block the entry of the giant 145,000 cu m Cape Ann yesterday, the first FSRU France has ...
IUMI president discusses 'turbulent seas' as annual insurance gathering meets in Scotland Opening this week's International Union of Marine Insurance (IUMI) annual conference in Edinburgh, Scotland, president Frédéric Denèfle discussed the current "turbulent seas" affecting the shipping industry, telling delegates how insurers were actively working with the government in Ukraine to restart grain shipments coverage out of the war torn nation. A consequence of inflation, caused by ...
BRS lowers product tanker earnings forecast on lower product yields Rising middle distillate demand has pushed up short-term interest for product tankers, but a shortage of supply in feedstock heavy/sour...
Pooling overachieving vessels will help owners comply with FuelEU targets The FuelEU Maritime will come into force in 2025 to cut shipping emissions of vessels that call at EU ports...
EU intention to align with IMO global fuel standard 'very clear' The EU will align its regional emissions rules with those of the IMO - as long as the global regulator...
Questions raised over UK government claims Odesa-docked ship was Russia target If the bulk carrier Primus was deliberately targeted in failed Russian cruise missile attack on August 24, as stated by...
MOL adds LCTC pair to vehicle carrier newbuilding orderbook Global vehicle carrier orderbook has now reached 158 ships with a combined capacity of almost 1.2m cars, or around 32%...
South Korea's leading shipbuilder plots alt-fuel vessel future With the successful deployment of new technology in Laura Maersk, HD Hyundai now intends to speed up the development of...
Inflation will eat into hull & machinery profits, IUMI told 'The underwriting community has not applied inflationary increases to the premium base and this may lead to a reduction in...
Crew travel costs increase as airlines focus on revenue Shipping companies are struggling to decide which department is best placed to handle crew travel. As a result, getting a...
Hengli Heavy Industry secures first VLCC order funded by leasing firm Hengli Group has a large refinery and petrochemical project in Dalian, where the shipbuilder is located
Frenzied trading grips new Shanghai container futures The futures exchange offers retail investors a 'licensed casino' to bet on freight rate changes, but a narrowing spread amid...
CMA CGM teams up with Maersk to scale up green efforts Milestone partnership between two of the largest container lines aims to accelerate decarbonisation plans, scale sustainable fuel supplies and take...
Why always-on connectivity will be fundamental for Gen Z seafarers A White Paper from KVH, the connectivity provider, says staying in touch is an expectation for tomorrow's seafarer. HR professionals...
Regulators defend Russia sanctions after industry barbs Regulators behind the US, EU and UK sanctions on shipping Russian oil defended their regime from industry claims the sanctions...
Daily Briefing Marine insurance recovery continues as premiums see healthy growth | Marine insurers highlight China's use of containers for car exports...
Dynamics behind Flexport's leadership change signal digital forwarding's natural endpoint Much criticism has been leveled at the digital forwarding model, but steep declines in topline revenue during a year of weak demand are a sign that digital forwarders have had trouble differentiating themselves from the pack.
GPA-sponsored transload facility opens in Savannah The facility will offer a unique option to transfer ocean containers into domestic equipment without the need for outside drayage or pool chassis.
Rising fuel costs driving US LTL, truckload costs higher Cuts in oil production and increased fuel use globally are pushing up trucking fuel surcharges and, in turn, transportation costs for US shippers.
Maersk, CMA CGM join forces in drive to accelerate shipping decarbonization The two carriers will work together to develop alternative fuel standards, scale up the production of green fuel and ensure its supply at key bunkering ports around the world.
Largest US ports record 20%-plus declines in trans-Pacific imports The top four US ports, which accounted for 68.2% of US imports from Asia through August, experienced greater than 20% declines in Asian imports in the first eight months of 2023 whereas imports through Houston, the dominant port on the Gulf Coast, declined only 3.7%.
China's struggling property sector is not impacting dry bulk demand, experts say Spot rates for capesize bulkers have averaged around $15,000 per day for two years, Breakwave Advisors' John Kartsonas says
Hurtigruten Expeditions to rebrand as HX in December Sister operator Hurtigruten Norway will be renamed Hurtigruten
Battle for Arctic LNG hots up as US and UK top up sanctions lists But construction of six Arc7 LNG carriers to serve Arctic LNG 2 rolls on towards completion
Maersk's green methanol adventure - justified or just hype? Maersk was looking to the future fuel options even before tie-up with CMA CGM
Insurers are nervous about Ukraine war risk despite ringing up profits. Here's why Plan to insure ships exporting Ukraine grain yet to get off the ground
'Serious losses' in war risk market following Ukraine claims Lawyer says most total loss claims for ship detention have been settled
Bulker and ports group JSW Infrastructure plots $336m IPO in India Sajjan Jindal-controlled company wants cash to expand its operations
UK tightens up laws to punish fraudulent shipping British laws had failed to keep up with international agreements leaving enforcers toothless
Maersk and Seaspan progress methanol retrofit plans Initial tranche of ships lined up for conversion at Chinese shipyards
'Floating labs': Lomar to trial methane-reduction systems on its ships Tech accelerator lomarlabs will help develop US start-up's kit using vessels as guinea pigs
Liner giants Maersk and CMA CGM strike 'milestone' decarbonisation deal Two of the largest liner players are teaming up to help container shipping go greener
Former Safe Bulkers and BSM exec Georgios Spyrou becomes fleet manager at Pelagic Partners Experienced shipping man takes the helm in Cyprus
MISC Berhad sells two LNG carriers to Nissen Kaiun in sale and leaseback deal Kuala Lumpur-based shipowner hints similar transactions to come with new Japanese partner
PGS sells $41m share issue to boost liquidity ahead of TGS merger Seismic survey vessel owner says private placement was over-subscribed
Shipping heir Petter Olsen disputes unpaid tax claim in Norway Younger brother of magnate Fred Olsen to fight government over 'technical error' by tax agency
Erik Nyheim unpacks Hoegh LNG's energy infrastructure puzzle Strategically minded CEO has been on a rapid LNG learning curve and he's not slowing down
In the money: Dorian LPG executives and directors get an extra pay boost Enhanced windfall follows report from company's external compensation consultant
Scorpio's Eneti fixes turbine installation newbuilding at nearly $350,000 per day US-listed owner is giving few details about its new project
Big-name Greek shipowners fall foul of UK port state control All of the vessels detained had deficiencies related to international safety management failures
Russia flexes military muscle to protect new Arctic shipping route Navy fires cruise missiles in exercise to protect Northern Sea Route from mock attack in the Bering Sea
First inbound vessel in Ukraine's new grain corridor begins return journey The first of two vessels sets out to complete a debut roundtrip in war-torn waters
Big name Greeks fall foul of UK port state control All of the vessels detained had deficiencies related to international safety management failures
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