Port of Long Beach reports its busiest September ever The Port of Long Beach reports that it has achieved its busiest September on record, Dockworkers and terminal operators moved 829,429 twenty-foot equivalent units (TEUs) in September 2023, up 11.8% from the
New Roatan Dream ferry goes to work in Honduras The Roatan Dream, a new 41-meter catamaran built by Harvey, La., shipbuilder Midship Marine and designed by Incat Crowther is now in service with Island Ferries S.A. in Honduras, operating on the
ClassNK issues AiP for ship powered by hydrogen-fueled two-stroke In a world first, ClassNK has issued an Approval in Principle (AiP) for a ship equipped with a large low-speed, hydrogen-fueled two-stroke engine as the main propulsion engine. The parcel layout concept
Seatrium delivers Whale FPU for Shell GoM project Singapore-based Seatrium Limited has successfully delivered the Whale Floating Production Unit (FPU), for deployment in the U.S. Gulf of Mexico, under a contract awarded by Shell Offshore Inc. in November 2019. The
MPA calls financiers and insurers to support adoption of electric harbour craft in Singapore The Maritime and Port Authority of Singapore (MPA) has launched an Expression of Interest (EOI) inviting financial institutions and intermediaries, as well as marine insurance providers and brokers, to submit proposals to accelerate the adoption of electric harbour craft in Singapore. According to MPA, this EOI will help drive the adoption of electric harbour craft among owners and operators of h
ClassNK issues approval in principle for hydrogen-fuelled vessel ClassNK has issued an Approval in Principle (AiP) for a parcel layout concept for a hydrogen-fuelled multi-purpose vessel developed by Mitsui O.S.K. Lines, Ltd. (MOL), MOL Drybulk Ltd., Onomichi Dockyard Co., Ltd., Kawasaki Heavy Industries, Ltd. and Japan Engine Corporation (J-ENG). This is the world's first AiP certification for a ship equipped with a large low-speed two-stroke hydrogen-fuelled
Hellmann proceeds with digitalisation through BlueBox Systems A successful collaboration between BlueBox Systems, a developer of intelligent air cargo tracking solutions, and Hellmann Worldwide Logistics, one of Germany's largest medium-sized logistics companies, demonstrates that a combination of an established company and an innovative start-up can deliver innovation, digitalisation, and sustainable growth. "BlueBox Systems delivers fresh ideas, agility,
HPC to carry out study on Kazakhstan's terminal upgrade ALG Company, headquartered in Almaty, Kazakhstan has selected HPC Hamburg Port Consulting, an intermodal terminal specialist, to review their current terminal concept and conduct a feasibility study for optimisation and development. The ALG Terminal in Almaty currently plays an important role in handling a diverse range of cargo, including 20 and 40-foot containers, cars, breakbulk, and large-siz
Mabanaft and Fairplay Towage sign deal for hydrogen supply to tugboats in Hamburg port Mabanaft, an independent and integrated energy company, has signed a Memorandum of Understanding (MoU) with Fairplay Towage Group, one of Europe's largest tugboat operators. The deal is about the supply of hydrogen to Fairplay Towage Group's new tugs in the Port of Hamburg from 2025. Fairplay Towage intends to add tugboats to its fleet in the German port capable of running on hydrogen. In order t
DP World signs first manufacturing tenants for Thames Freeport DP World announced its first new tenants at its London Gateway Logistics Park, which is part of the Thames Freeport, with two manufacturers having chosen to invest in the site and create jobs in a significant expansion of their UK operations. Ranson, a Belgian food and catering products company, and Destiny Entertainments, a company that imports and alters audio and video products, will relocate
Hamburg Port Authority to raise port fees The Hamburg Port Authority (HPA) will raise port fees by an average of 6.5% from 1 January 2024, due to the continued very high inflation and increased prices. With the new port fees, the HPA aims to simplify the tariff structure. "For example, the quantity component is eliminated," it said, "leading to more transparency and less effort on all sides." Furthermore, the previously temporary quantum
DP World the first steps in the green transition Knowing where in your operations the carbon is produced is the first major step in the green transition, for a diverse company like DP World which has port and inland operations as well as the shipping transition to contend with. Speaking exclusively to Container News, DP World's senior vice president of investor relations Redwan Ahmed put into context the urgency it sees as necessary and the thi
MSC tops in ship recycling and purchases Mediterranean Shipping Company (MSC) is leading the way both in ship demolitions and ship purchases. Cash buyers said that MSC has scrapped 15 vessels so far this year, with the last two torched ships being the 1988-built 2,073 TEU MSC Denisse and the 1989-built 2,918 TEU MSC Levina. Global Marketing Systems noted that the MSC Levina fetched US$7.26 million or US$565/ldt, with 400 tonnes of lefto
Kalmar and GMP Le Havre agree on repeat order for hybrid straddle carriers Cargotec-owned Kalmar has agreed to equip Générale de Manutention Portuaire (GMP) in Le Havre, France, with four more hybrid straddle carriers. The order, worth over US$5.2 million, was placed in Cargotec's 2023 Q3 order intake, with the equipment expected to be delivered by the end of the fourth quarter of 2023. "As long-term partners Kalmar and GMP Le Havre share a commitment to safe and sustai
ONE starts new service connecting Egypt, Lebanon and Turkey Singapore-headquartered container line Ocean Network Express (ONE) has announced the launch of a new Egypt-Lebanon-Turkey (ELT) service. "This new service will offer customers enhanced coverage in the European region and offers a direct connection from Damietta to Beirut and Iskenderun," said ONE in a statement. The new ELT service is expected to provide a reliable and quality assured transport s
COSCO SHIPPING Ports reports over 77.8 million TEUs in first nine months of 2023 Chinese port operator COSCO SHIPPING Ports reported that its total throughput in September rose by 7.9%, compared with the same month last year, reaching around 9.3 million TEUs. From the start of the year, COSCO SHIPPING Ports has seen more than 77.83 million TEUs in its ports and terminals worldwide, translating to a slight increase of 0.6%. In September, the throughput at terminals in the Boha
Wan Hai Lines names two 13,200 TEU newbuildings Wan Hai Lines held a joint ship naming ceremony for Wan Hai A05 and Wan Hai A06, accompanied by a charity donation, at HD Hyundai Heavy Industries Ulsan Shipyard. These are the fourth and fifth vessels in the series of 13,200 TEU container ships built by the shipyard in Ulsan, South Korea. The newbuilding series is designed with a length overall of 335 meters, a breadth of 51 meters, a draft of 1
Port of Helsinki sees cargo volume decline From January until September, overall cargo traffic at the Port of Helsinki reached 10.4 million tonnes. Additionally, 4.7 million tonnes (-13.4%) were imported, while 5.4 million tonnes (-8.8%) were exported from the Finnish port. The amount of unitised cargo traffic was 8.7 million tons with container traffic falling by 12.3% in terms of tonnes, while wheeled traffic dropped by 8.1%. "I am glad
NYK introduces sound-analysis tool to detect ship-equipment abnormalities Nippon Yusen Kabushiki Kaisha (NYK), MTI Co. and Nabtesco Corporation have developed an electric diagnostic tool that records, visualises, and analyses the operational sounds of a vessel's engine plant for early anomaly detection. The device has been named "Kirari MUSE" and can store operational sounds from plants as data and use it to diagnose ship-equipment conditions. In particular, Nabtesco l
Global first for Formula 1: CEVA Logistics transports Ferrari equipment by rail CEVA Logistics, CMA CGM-owned third-party logistics provider, recently designed an innovative rail transport solution for Scuderia Ferrari's F1 racing team in North America. In a global first for Formula 1, Ferrari equipment is being transported by rail between three North American F1 grand prix races as part of the two companies' efforts to cut carbon emissions. Since the start of their cooperat
Sea-Intelligence reports limited inflation impact on ocean carrier profits During the peak of freight rates in 2021-2022, there was frequent criticism that the carriers' high level of profitability was a major cause of inflation. Freight rates were a little over 200% higher at the peak than in the same period in 2019. The shipping lines' profits in 2021 and 2022 were more than US$400 billion. However, when these profits are compared to the value of cargo carried, carrie
GEODIS opens new Schiphol-Rijk temperature controlled facility Global logistics provider GEODIS officially started the operation of its new 5,500 m² site in Schiphol on 6 October providing services to the pharma and healthcare sectors. According to the company, "this new location is next to the existing site and will expand GEODIS' footprint in pharma and healthcare, which is already well-established at the logistics operator's Venlo site with a significant
Hapag-Lloyd sets up Brazilian joint venture Germany's Hapag-Lloyd and the Brazilian shipping and waterway logistics firm Norsul have established a new joint venture to start offering container cabotage and feeder services in Brazilian ports in Q1 2024. The jv called Norcoast will be an independent company and based on a 50-50 partnership between the world's fifth largest carrier with a fleet ...
Tankers International pool adds Kuwait Petroleum and TRF VLCCs UK-based VLCC pool operator Tankers International is expanding with the addition of two ships from newcomer Kuwait Petroleum Corporation (KPC), while its existing partner Transportation Recovery Fund (TRF) has added another vessel. The move, which will bring the total fleet size to 66, has seen one VLCC owned and operated by KPC's unit Kuwait Oil ...
Dolphin Drilling firms up India rig deal Norwegian semisub owner Dolphin Drilling has been confirmed as the winner of the Oil India rig tender after submitting the lowest bid for a 14-month firm contract. The Øystein Stray Spetalen-backed company has secured a letter of award, subject to a signed final contract. Dayrates have not been disclosed. Dolphin said earlier the start-up for ...
Deutsche Bank reveals new emissions targets for shipping, coal mining, and cement Deutsche Bank has announced emissions reduction targets for loans to clients in the shipping, coal mining, and cement sectors with 55% of the bank's loans now covered with a net zero plan. Deutsche Bank today published its initial Transition Plan and consolidates its path to net zero by 2050. This Plan focuses on the bank's ...
Nordic American Tankers expands suezmax fleet with secondhand buy Suezmax specialist Nordic American Tankers (NAT) is expanding its fleet with the purchase of a South Korean-built ship. The New York-listed firm did not disclose the name or the price tag of the vessel but said the unit has been "operated and well maintained by a top shipowner" for the last six to seven years. ...
OSV sector shown path to slash emissions this decade Offshore support vessel owners and operators have been shown a way to decarbonise current working practices and facilitate the transition to a greener, carbon-neutral sector. A white paper by the Forum for Decarbonising the OSV Industry, established in 2021 through a collaborative effort between Chevron, Shell, TotalEnergies, Equinor, ABS and Maersk Supply Service, has defined ...
Operational efficiency takes centre stage at Global Maritime Forum's AGM in Athens The Global Maritime Forum, a not-for-profit organisation working to create a decarbonised shipping industry, has identified five key action areas to improve the operational efficiency of vessels with 30 top names in maritime, attending the association's AGM in Athens, committing to adopt these measures. The five actions cover: data collection and transparency; contractual changes; pilot ...
Scotland to invest over $600m in offshore wind supply chain Scottish First Minister Humza Yousaf has announced that Scotland will invest up to £500m ($606m) in the country's offshore wind supply chain over the next five years. According to a statement by the Scottish government, the investment will help create thousands of green jobs and deliver the full economic potential of offshore renewable projects. The ...
Star Bulk joins the rush for kamsarmax orders Nasdaq-listed Greek dry bulk owner Star Bulk Carriers has signed up for a fresh pair of kamsarmaxes in China. The Petros Pappas-led owner and operator of around 120 ships has placed an order at Qingdao Yangfan for delivery in 2026, according to brokers. The 82,000 dwt units add to six newbuilds ordered in 2021, which ...
CoolCo seals newbuild LNG carrier duo sale and leaseback deal LNG shipowner Cool Company (CoolCo) and Huaxia Financial Leasing have entered into sale and leaseback financing arrangements for two newbuild LNG carriers being built by Hyundai Samho Heavy Industries in Korea. CoolCo exercised its option to acquire the newbuilds, to be named Kool Tiger and Kool Panther, from affiliates of EPS Ventures in June this ...
MOL makes significant stride in developing hydrogen-powered ships Japanese shipowner Mitsui OSK Lines (MOL), along with yards Onomichi Dockyard, Kawasaki Heavy Industries and Japan Engine Corporation (J-ENG) have conducted a risk assessment of a multipurpose vessel powered by hydrogen, which has been granted approval in principle (AiP) for the ship's parcel layout concept from Nippon Kaiji Kyokai (ClassNK). This marks the world's first ...
Transocean bags $745m worth of contracts for three drillships New York-listed offshore driller Transocean has announced that it won new deals and extensions for three of its drillships. The only rig to win two deals is the 2009-built Dhirubhai Deepwater KG1 drillship. The rig's contract with Reliance Industries under a dayrate of $330,000 ends this month. The India-based company has decided to extend the ...
Putin seeks international investment for Arctic shipping during visit to Beijing Attending China's Belt and Road infrastructure forum in Beijing yesterday, Russian president Vladimir Putin sought international investment to develop the Northern Sea Route (NSR). "We invite interested states to participate directly in its development, and we are ready to provide reliable icebreaker navigation, communication and supply," Putin said. Thanks to Western sanctions, Russia has increa
The Captain's Table finalists announced The finalists of The Captain's Table pitch competition have been unveiled. The six start-ups have been selected to participate in the finals which will be streamed live on Splash on November 23. The finalists are 123Carbon, a Dutch digital decarbonisation start-up, Crewdential, a seafarer well-being/SaaS solutions provider from Guernsey, ESG NRG, a decarbonisation/sustainability specialist from ...
Transworld fails in bid to privatise Shreyas India's Shreyas Shipping and Logistics will not be privatised after all as the counter-offer made by Dubai parent Transworld Holdings failed by 2% to attract the required 90% of the outstanding shares. Transworld had earlier this month indicated that it was sure it had built up enough support to take Shreyas off two stock exchanges ...
Why shipping still needs to break out of the vicious cyber-cycle Action is needed now to improve procedures as new waves of bandwidth come onstream, increasing the threat profile to maritime technology users, writes Nicolas Furgé, president, digital, Marlink. The maritime industry is stuck in a time-warp when it comes to cyber security. This isn't to say that solutions are not available, or that companies don't ...
Cargo surge sends port of Long Beach to record September The port of Long Beach posted strong figures in September reminiscent of the pandemic-era shipping boom. While it cited consumer...
Nordic American Tankers grows fleet with suezmax purchase US-listed owner grows fleet to 20 vessels with unnamed tanker acquisition from 'top shipowner'
EC unveils European Ports Alliance as key part of anti-drug trafficking strategy Hundreds of millions of dollars have been allocated for container scanning equipment
Rotterdam CO2 storage project progresses Energy majors Shell and ExxonMobil are part of the $1.4bn project that aims to store around 2.5m tonnes of CO2 a...
Ukraine hopes to expand temporary corridor as Danube suffers vessel build-up Inbound voyages to Ukraine's Black Sea ports remain steady and continued success could help ease pressure on the country's other...
Former Swiber directors charged over false contract claims Former CEO Yeo Chee Neng faces seven additional charges of insider trading
Chinese shipyard Zhoushan Xinya to convert Maersk's first containership to using methanol as fuel The vessel will arrive in the repair yard in June 2024 to start the three-month retrofit
US suspends some Venezuela sanctions Analysts predict modest boost to crude output
CoolCo fully funds LNG newbuilds via Chinese leasing pact The 174,000 cu m pair, Kool Tiger and Kool Panther, scheduled for delivery in the second half of 2024, are...
Daily Briefing Shipping remains off target in its bid to resolve the zero-carbon conundrum | IGC Code quirk holding back ammonia fuel...
Lawsuit from former CEO prompts Slync bankruptcy filing The company will sell its technology and shut operations, deciding it could not grow its business while paying the legal fees of ousted CEO Chris Kirchner.
Transfix defies down market to raise $40 million for truckload brokerage Transfix's investment being announced on the same day Convoy told employees it was winding down operations highlights some of the differences between members of a group broadly defined as "digital brokers."
Prince Rupert to build large export transload facility to balance cargo mix Construction of the C$750 million, 400,000-TEU facility for Canadian and US agricultural and resin exports will be key to achieving more balanced two-way trade through the Western Canadian port.
Convoy says will shut operations, sell off technology amid market downturn While sudden, the impact of Convoy shutting its business should be muted in a truckload brokerage market where shippers have access to low spot rates and plentiful capacity.
India-US rates pushed lower amid excess capacity, muted peak season After jettisoning previously planned October rate hikes, some India-USEC carriers have published new, modest rate increase plans for November.
Excess capacity, muted peak season push rates lower for India-US cargo After jettisoning previously planned October rate hikes, some India-USEC carriers have published new, modest rate increase plans for November.
Capacity glut, forwarder competition drive Asia-Europe ocean rates lower Spot rates are being dragged down by forwarders speculating on an extended period of weak rates on the Asia to Europe trade as capacity is expected to outstrip demand through 2024.
On track: Cadeler-Eneti merger looking good as companies make key SEC filing With important hurdle cleared, WTIV players still expecting $1.2bn deal to close by year's end
US set to export more grain as it expects bumper corn harvest 'Any increase in grain movements is good' for bulkers, shipowner says
AMSC approves shareholder payout after Jones Act tanker exit Oslo-listed shipowner closes sale to Maritime Partners
Ports seen as 'key node' for a cross-sector freight decarbonisation in the UK Maritime freight's green transition could require £75bn in investment, mostly on land
VLCC rates continue big swings amid Middle East chaos Fast-changing events on the world stage continue to affect the largest crude carriers, say analysts
Eastern Bulk Carriers to be wound down as Tidemand family exits shipowning and trading Tidemand sisters have been winding down their various shipping ventures this year and will focus on investing
Hapag-Lloyd and Norsul form Brazilian cabotage operator New company, Norcoast, will rival similar ventures by other leading liner operators
Deutsche Bank swings behind Poseidon Principles targets with first transition plan Non-signatory stays outside lending group but says it regularly reviews membership of all relevant organisations
Shipowners turn to spot LNG bunker deals in volatile market, Integr8 Fuels says Navig8-backed supplier says dual-fuel ships are starting to use LNG again as price drops
Streetwise: Tsakos Energy Navigation celebrates 30 years of publicly dodging black swans Streetwise examines Nikolas Tsakos' listed vehicle that's stood the test of time, but not without some quibbles
US offshore wind vessel orders accelerate at a crawl as shipyards struggle As inflation and labour shortages continue to plague shipyards, newbuilding deals trickle
Kuwait Petroleum commits VLCCs to Tankers International for first time London-based pools operator also adds tanker from TRF
Have Estonian engineers SRC solved shipping's methanol storage problem? Marine engineering company says it can avoid cofferdams on board to boost fuel capacity by 85%
Flexibility of LNG needed for energy transition, but sector needs to decarbonise International Gas Union says gas demand is seeing 'unprecedented uncertainty' from 2030
Big-league owners and charterers push for green contract changes Move is part of Global Maritime Forum-sponsored campaign to boost ships' operational efficiency
Pyxis boss Valentis targets three or four ship buys after 'record' tanker sale Greek CEO says company will 'reload' with product tankers when the time is right
Nordic American strikes deal for suezmax tanker Herbjorn Hansson-led shipowner's fleet grows to 20 tankers, with company predicting a strong market
Putin invites overseas investment in Arctic route on visit to 'dear friend' Xi Russian president wants partners to help it develop Northern Sea Route
Future of five-year-old LNG ship duo hangs in balance as legal rows roll on South Korean court ruling orders Kogas to compensate owner and yard
MOL and partners win AiP for hydrogen-fuelled multi-purpose vessel Team claims world-first for ship with a low-speed, two-stroke, hydrogen-fuelled engine
US lifts Venezuela oil sanctions in boost for tanker trades Six-month suspension relies on President Nicolas Maduro holding fair elections next year
In pictures: SSY says goodbye to Simpson, Spence and Young at big rebranding bash Shipbroker picks Singapore to unveil its new corporate identity
Transworld falls just short in bid to delist Shreyas Shipping Dubai parent's offer was not enough to reach 90% control of Indian shipowner
BP ships a first cargo from its new Tangguh LNG train Next phase of Indonesian liquefaction project will include carbon capture utilisation and storage technology
Ince partner Richard Oakley joins law firm CMS in Hong Kong Global group expands shipping and insurance practice with experienced lawyer
Himalaya Shipping profit poised to pop as capesize rates soar, Clarksons says Tor Olam Troim-backed owner has big upside potential, analysts argue
DNB shrinks shipping book by $250m as lender goes for share buyback Profit up but offshore, oil and gas provisions rise in third quarter
Iconic salvage tug SA Amandla retires: 47 years of heroic ship rescues come to an end Old age has finally caught up with the vessel, says owner African Marine Solutions
Capesize bulker market keeps rising amid scarce supply in Atlantic basin, analyst says Port congestion and Vale's higher iron ore volumes also boost sector, according to Clarksons Securities
UOB swaps Yangzijiang Shipbuilding for Marco Polo in Alpha Picks portfolio Singapore bank drops Chinese shipbuilder in expectation of weaker order flow
Legendary salvage tug SA Amandla bows out after 47-years of rescuing ships in peril Old age has finally caught up with the vessel, says owner African Marine Solutions
Legendary salvage tug SA Amandla bows out after 47-years of recuing ships in peril Old age has finally caught up with the vessel, says owner African Marine Solutions
UOB swaps Marco Polo for Yangzijiang in Alpha Picks portfolio Singapore bank drops Chinese shipbuilder in expectation of weaker order flow
Funds reveal 15% stake in MSC-controlled Log-In Logistica Alaska Asset Management funds increase second-largest stake in Brazilian company
Kool cats 'fully financed': Ofer's CoolCo signs deal with Chinese leasing house for LNG newbuildings Chinese leasing house signs 10-year deal for newbuildings at Hyundai Samho
China approves first A321 cargo conversion for Sichuan Airlines The first Airbus A321 converted freighter has been cleared by authorities to begin commercial service in China.
Port of Long Beach CEO: 'Consumer confidence is on the rise' "We look forward to a moderate rebound in cargo volume through the end of the year," said Port of Long Beach CEO Mario Cordero.
American Airlines' cargo revenue shrinks by a third in tough market American Airlines Cargo had a disappointing, but expected, third quarter. Management says new aircraft and operational enhancements should help attract customers as the market improves.
Kuehne+Nagel teams up to make airport cargo handling more efficient Mega-forwarder Kuehne+Nagel is working with one of its top air logistics vendors to make airport cargo transfers faster.
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