VIDEO: MOL opts for AI for car carrier fire protection As Japan's Mitsui O.S.K. Lines, Ltd. (MOL) knows only too well from its own experience with the Liberty Ace incident, car carrier fires can be costly. To guard against future incidents, the
Uzmar cuts steel for new Buksér og Berging OSV At a time when newbuild orders for offshore support vessels remain mostly confined to wind-specific vessels, Turkish shipbuilder Uzmar Shipyards has cut the first steel for a new OSV (offshore support vessel)
Dramatic rescue in Taiwan after container truck nearly goes off highway A container truck departing Kaohsiung port was left half hanging in mid-air after the driver lost control and hit the guardrail of a highway in the city. Taiwanese police said that the accident, which happened around 9.20 am (local time) on 16 November, is believed to have been caused by speeding along National Highway 1, causing the truck to hit the guardrail and flip to its side over the flyove
Port of Long Beach and Long An International Port sign collaboration agreement Vietnam's Long An International Port and California's Port of Long Beach signed a letter of intent on 15 November to establish a sister port relationship, aiming to explore opportunities for collaboration, sharing of experiences in port management and operation, improving market connectivity to increase transshipment cargo volume and long-term development. "We are glad to welcome the delegation o
New "Alexander the Great" cruise terminal opens in Thessaloniki The new cruise terminal at the port of Thessaloniki in Greece, named "Alexander the Great," was inaugurated on 16 November at Pier 2 of the port by Greece's Minister of Maritime Affairs and Insular Policy, Christos Stylianides, and the executive chairman of Thessaloniki Port Authority's (ThPA's) Board of Directors, Thanos Liagkos. The new cruise terminal, which began operations in early summer, s
MABUX global indices show moderate shifts Marine Bunker Exchange (MABUX) global indices showed moderate shifts and no firm dynamics during the 46th week of the year. The 380 HSFO index increased by US$7.82 to US$538.18/MT, the VLSFO index gained US$9.86 reaching US$678.27/MT, but, on the other hand, the MGO index declined by US$1.40 to US$931.56/MT. "The market was in a mild rising trend at the time of publication," stated a MABUX offici
Port of Hamburg marks container increase in third quarter Port of Hamburg handled 2 million TEUs in the third quarter of the year, achieving a year-over-year increase of 2.4%. However, with 5.84 million TEUs, the German port has moved fewer containers (-7.4%) in the first nine months of 2023 compared to the same period in the previous year. In total, the companies in the Hamburg port economy handled 86.6 million tons of seagoing cargo from January to Se
Port of Amsterdam signs agreements with Bilbao and dusiport During the H2 Connecting Event in Duisburg, the Port of Amsterdam signed three agreements with a wide range of partners that strengthened the port's position as a leading supplier of renewable hydrogen and its derivatives to the German market. According to a statement, the goal of the H2 Connecting Event, which will be presided over by King Willem-Alexander of the Netherlands, is to bolster the p
Globus Maritime eyes sale and leaseback for ultramax newbuild Nasdaq-listed Greek dry bulk owner Globus Maritime is looking to tap into sale and leaseback financing for one of its ultramaxes under construction in China. The company's subsidiary, Daxos Maritime, is currently negotiating for the 64,000 dwt unit expected to deliver in 2024 from Nantong Cosco KHI Ship Engineering. The deal would include a sale ...
NEO Energy buys Western Isles FPSO Dana Petroleum and NEO Energy have signed a sale and purchase agreement under which NEO Energy will acquire Dana's full equity in the Western Isles FPSO. NEO Energy and Dana Petroleum will redeploy the FPSO to the Greater Buchan Area where the start-up is expected in 2026. Dana Petroleum and NEO Energy have agreed to ...
MMA Offshore scores $10m decommissioning contract in Timor-Leste MMA Offshore has secured a contract from a subsidiary of Timor Gap in association with Santos for decommissioning services in Timor-Leste. The Perth-based OSV operator will deploy its multipurpose support vessel, MMA Prestige, to carry out a range of subsea services in support of decommissioning activities. Offshore work is set to start in the first ...
Hafnia pursues secondary listing in the US Hafina, the world's largest product tanker owner, has revealed it is moving for a New York listing to go alongside its existing position on the Oslo Bors, a move other owners have pursued recently. While announcing a $146.9m net profit for Q3 today, Mikael Skov, the CEO of the BW Group subsidiary, said Hafnia is ...
Petrobras sets sights on e-methanol with Maersk's future fuel supplier Brazilian state-controlled energy giant Petrobras has signed an agreement with Maersk's future fuel supplier, European Energy, to evaluate e-methanol business opportunities. A non-binding memorandum of understanding signed in Denmark will see the two companies work towards developing an e-methanol plant in Brazil. Petrobras said the deal fits with its 2024-28 strategic plan to ensure the ...
Tokyo Gas invests in $3.8bn Octopus Energy offshore wind fund Natural gas provider Tokyo Gas has invested in the offshore wind fund established in October 2022 by UK-based Octopus Energy. The fund specialises in offshore wind investments and comprises a diversified portfolio of investments in offshore wind and development platforms. Tokyo Gas will make an investment commitment of €220m ($238.5m) as a cornerstone investor, with ...
Terna given exploration and survey license for Greek offshore wind project Greek renewable energy company Terna Energy has been granted one out of the two first Exploration and Survey Licenses by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) issued for pilot offshore wind projects in Greece. The two licenses refer to the area South of the coastline of Evros regional unit and North-Northeast of ...
JSW Infrastructure to develop $495m port in Karnataka JSW Infrastructure, the listed ports unit of Indian steel tycoon Sajjan Jindal-led conglomerate JSW Group, has won a bid to develop a commercial port for 4,119 crore ($495m) at Keni in Karnataka. Keni port is located between the large ports of Mormugao in the north and New Mangalore in the south. The hinterland transports coal ...
World's first newbuild hydrogen-powered inland shipping vessel now in operation Images and details of the world's first newbuild hydrogen-powered inland shipping vessel have been revealed. The Antoine, ordered at Concordia Damen by Dutch owner Lenten Scheepvaart, has been put into operation following successful sea trials. The ship now awaits the installation of a distribution panel to work in conjunction with the already installed hydrogen fuel ...
Europe to clamp down on ship discharges Ships in European Union seas could face significant fines not only for oil spills, but also for sewage and garbage discharge, transport and tourism committee MEPs said yesterday. On Thursday, the committee voted to update EU rules on preventing pollution from ships in European seas and ensuring perpetrators face fines. It would ensure all international ...
US slaps sanctions on three more Dubai-based tanker owners The US has slapped sanctions on three Dubai-based shipping companies and three tankers for shipping oil sold above the G7's $60 a barrel price cap. The UAE-based firms targeted are Kazan Shipping , Progress Shipping and Gallion Navigation, all thought to be linked to Sovcomflot, Russia's largest shipping line. The Liberian-flagged aframaxes hit with sanctions are the Kazan, Ligovsky ...
How a south London restaurateur became a nexus for sanctioned Iranian gas trades Analysis of the ownership links behind an LPG tanker that exploded off the coast of Iran in August provides a...
United Maritime eager to ramp up buybacks Chief executive Stamatis Tsantanis says owner of eight bulkers also keen to repeat recent bareboat deals to grow fleet
How to make the 12th package of restrictions on Russian crude actually work Upping the scrutiny of attestation documents is a no-brainer, and Danish plans to inspect Russian tankers need to be part...
Globus eyes leaseback deal for one of its ultramax newbuilds Company stays in the black for third quarter thanks to a gain on vessel sale
The Lloyd's List Podcast: Why three P&I clubs are dishing out $80m Three of the five International Group affiliates that have announced strategies for the 2024 renewal have included sweeteners totalling more...
Containership values drop by over 20% in two months, with buyers expecting further falls Recent sale-and-purchase deals include a pair of 4,400 teu vessels bought by Italy's Linea Messina and a 2,500 teu ship...
South Korea unveils plan to dominate 'next-gen' shipbuilding market South Korea is launching an ambitious five-year plan to capture more than 80% of the 'next-generation shipbuilding market'. It has...
NYK, Stolt Tankers and Eneos Ocean launch chemical tanker pool The new tanker pool consists of an initial 13 vessels. Two will be provided by Eneos Ocean and the remainder...
Box freight rates suffer mid-month slump Carriers are approaching the contract negotiation period for 2024. Low spot rates mean a low base from which to lock...
Daily Briefing Shipping companies failing to set science-based climate targets | Shipping must switch to renewable hydrogen fuels by 2040 to hit...
LTL carriers aim high in pricing as market continues to settle post-Yellow Large LTL trucking providers are raising tariff rates 5% to 8% on average, but the LTL PPI slowed its growth to under 1% in October.
CMA CGM commits €100 million to new Paris-based AI research lab CMA CGM is moving beyond funding and supporting startups with a hefty investment into a non-profit lab designed to improve data models that feed into artificial intelligence products.
November rate plunge negates carrier pricing activity on India-Europe trade Still, the latest Indian trade data presents some hopeful signs for supply chain stakeholders, as the country's merchandise exports grew 6.3% by value year over year in October, the fastest rate of expansion in a year.
No easy fix on horizon for Panama Canal woes as shipping sector scrambles Carriers, shippers and logistics executives may have to get accustomed to drought-related restrictions along the critically important waterway, with costly water-saving infrastructure improvements years away.
Panamax bulker market soars to one-year high during 'dramatic week' in Atlantic basin Rate hikes are 'less spectacular' in the Pacific basin, analysts say
Cargill-chartered bulker damaged by mine explosion in the Black Sea Crew members unhurt as ship heads to Romania under its own power
Cargill bulker damaged by explosion in the Black Sea Crew members unhurt as ship heads to Romania under its own power
'Who's bidding these capes?' Braemar Securities fined $140,000 for telling Review by regulator found that derivatives desk has been operating without any compliance supervision since 2019
Excelerate Energy waves off one name and promotes another in C-suite shuffle The company is splitting its chief commercial officer role into two
Globus Maritime betting on bulker upswing with spot market exposure Greek owner expects gradual improvement in rates
Panache Cruises uses shipbuilding material for £1m office refurbishment UK company believes this is a first for a commercial office project
MEPs seek ban on all scrubber discharges in EU waters Revision of the Maritime Safety Package includes proposals for a total ban on scrubber discharges, garbage and sewage
Flag states in the spotlight as the US moves on tanker sanctions Tracking data shows three vessels have been involved in similar trades between South Korea and India since June
Leasebacks 'much more attractive' in high interest environment, DFDS boss Carlsen says Danish executive is not ruling out further sales of vessels with charters back
Oldendorff's M&M Bank upbeat on tankers as credit quality improves Bulker and container ship portfolios 'satisfactory' despite some volatility, niche lender says
Shipowner Galtung Dosvig backs cash-strapped singer Melanneyn with grant The award is made every year in conjunction with Norway's Wild Wild West festival
Procopiou newbuild spree hits $2.5bn with ice-class product tankers Greek shipowner has ordered 46 newbuildings in a span of six months
Purus Marine named as buyer behind hot-priced VLEC newbuildings HD Hyundai Heavy Industries nets latest ethane carrier order for big-name charterer
'No more newbuildings': Himalaya Shipping fixes leaseback deals for newest bulkers Newcastlemaxes bought by China's CCB as Norwegian owner turns in a loss
Market links Marinakis to move for Spetalen's Standard Supply trio PSVs sold for a firm price earlier this week
Panama clash as CSL bulk carrier tries to dock amid anti-mining protests A police escort of the CSL Tarantau into Punta Rincon has been called off
In pictures: TradeWinds forum in Tokyo tackles pathway to net zero Participants hear collaboration is pivotal for advancing Japan's nationwide initiatives for maritime decarbonisation
This week's Editor's selection: Marinakis hits the gas A look back at some of the important stories of the week
Carbon emissions trading has arrived but at what cost? Price dynamics have been bumpy in the first years of the European Union's carbon border tax
Greek bailout fund raises over $1bn from National Bank stake sale Ownership of one of Greece's biggest shipping lenders is expected to remain widely dispersed
EU backs global shipping levy as it seeks to deflect carbon trading criticism As the 'cap and trade' system approaches, no legal challenge has been proposed yet for the controversial scheme
BRS floats alternative EU carbon clause amid uncertainty Emissions markets head says BRS is the first broker and carbon player to roll out time-charter provision
Want to start trading EU carbon credits now? Watch out for the bureaucratic logjam Some shipping companies will struggle to open registry accounts to store carbon allowances
Carbon markets in focus: Unpacking the future cost of carbon trading With speculation significantly impacting pricing, reporters Holly Birkett, Eric Priante Martin and Adam Corbett look at the challenges and concerns facing the sector.
ADS Maritime reaps rewards from Georgiopoulos tankers But Norwegian investment company sees profit fall due to higher financial costs
Lepta Shipping linked to product tanker newbuildings at Yamic The deal marks the Japanese company's third contract with Yangzijiang Shipbuilding this year
Strategic collaboration: If you want to engage in shipping M&As, find the big shareholder Evercore expert tells forum how his life mostly is made more difficult by shipping's unique structures
Hafnia latest shipowner to target secondary listing in New York News of the listing comes as the company suffers a hefty decline in third-quarter profit on weaker markets
Hydrogen ferry owner scores cash for fleet expansion Switch Maritime raises $10m from investors led by Nexus Development Capital
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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