CoolCo sells 2013-built LNG carrier to Höegh LNG LNG carrier specialist CoolCo (more formally Cool Company Ltd.) has reached an agreement to sell the oldest vessel in its fleet, Golar Seal (IMO: 9624914), for $184.3 million. The transaction is expected
Collision cutter commander relieved of duties Lt. Cmdr. Benjamin Williamsz was relieved of duties as the commanding officer of USCGC Winslow Griesser (WPC 1116), Feb.17. The Sentinel-class fast response cutter and the fishing vessel Desakata collided while underway
Survitec introduces new pre-inspection drydocking solution Survitec, a provider of Global Survival Technologies solutions, has created a new, formalised pre-inspection solution as part of its dry dock safety service to assist ship owners and managers in optimising and expediting dry docking timetables. The pre-inspection service is designed to support the repair and inspection of all onboard safety and lifesaving equipment as part of Survitec's fully man
What is the difference between LCL and LTL? Logistics and freight forwarding are integral aspects of the supply chain, helping to move goods from one place to another efficiently. Two common types of freight transport services used in logistics are Less than Container Load (LCL) and Less than Truckload (LTL). Both have advantages and disadvantages regarding cost, transit time, and other factors. This article will discuss the critical diffe
Ports of Indiana announces new CEO Jody Peacock has been chosen as the new chief executive officer (CEO) of Ports of Indiana, a statewide port authority that runs three ports on the Ohio River and Lake Michigan in the United States. Peacock has worked with the Ports of Indiana in different positions since 2001, most recently as senior vice president for business development. Jody Peacock will replace Vanta E. Coda II, who served a
2M alliance announces rotation changes in Transpacific services The largest container shipping alliance, the 2M alliance (Maersk and MSC), has decided to proceed with several changes in two Transpacific services. Firstly, the TP10/Amberjack service will run on the following rotation, effective from May, linking south and central China and South Korea to the east coast of the United States: Qingdao (China) - Ningbo (China) - Shanghai (China) - Busan (South Kor
Shipping organisations and companies call for immediate release of seafarers trapped in Ukraine More than 30 shipping companies and organisations have sent an open letter to United Nations (UN) secretary general, António Guterres, urgently calling for the immediate release of trapped seafarers in Ukraine. The purpose of the letter is to force Guterres to prioritise the immediate release of the 331 seafarers and 62 ships that remain trapped in Ukrainian ports due to Russia's war. "As we appr
Yang Ming refurbishes and upgrades Keelung yard Yang Ming Marine Transport has renovated its container yard in Taiwan's Keelung port as part of the medium to long-term development of the facility. In order to improve operating efficiency, old gantry machines were replaced with machines that have been certified by the American Bureau of Shipping and TUV Rheinland. The working height of the machines can reach 6+1 container stacks and can work on
Port of Barcelona invests over US$5.3 million to enhance operation processes and cybersecurity PORTIC, the port community system (PCS) of the Port Community of Barcelona, has released a new technological platform that is expected to enhance both the capacity and speed of processing of operations and cybersecurity, aiming to optimise performance, security and resilience in case of future incidents. The Port of Barcelona invested over US$5.3 million in the refurbishment of PORTIC's technolog
Sri Lankan government invests US$132 million in port development The Sri Lankan government will spend around US$132 million on port development projects, as stated by the minister of ports, shipping, and aviation Nimal Siripala de Silva. According to the minister, these investments would be made through revenue generated from port operations. During an event in Colombo, the capital city of Sri Lanka, Nimal Siripala de Silva said the government has allocated ov
Lidl's box line launches new service from Bangladesh to Europe Tailwind Shipping Lines, founded less than a year ago as a subsidiary of Lidl International, is introducing a new liner service focussed on transporting textile items from Bangladesh to Europe. The new Tiger Express service (TEX service) will connect the port of Chittagong in Bangladesh with the port of Barcelona in Spain in less than 20 days, according to the company. "For European retailers, th
Maersk divests additional logistics assets in Russia A.P. Moller - Maersk has entered into an agreement in order to divest its Russia logistics sites in St. Petersburg and Novorossiysk to IG Finance Development Limited. This is a result of Maersk's decision, in March 2022, to discontinue activities in Russia , due to the Russian invasion of Ukraine. "We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute o
Container ship demolition sales surge in January The first month of 2023 was the busiest month for container vessel demolitions since July 2020, according to a recent VesselsValue report. A total of 13 boxhsips were sold for scrap in January, including four feedermax container ships and nine handy container vessels. "All sales reported were on the smaller scale, with four feedermax vessels committed and nine handy container ships setting sail f
Kalmar to supply PSA Italy with new container equipment Finnish port equipment manufacturer Kalmar has signed a contract with PSA Italy for eight Kalmar Eco reach stackers which will enhance the container handling capabilities of Genova Pra' and SECH box terminals. The order was booked in Q1 2023 order intake of Cargotec, the parent company of Kalmar, and the machines are scheduled for delivery during the second quarter of the year. Kalmar said the Ec
ONE joins forces with Sony for smart container solution Singapore-based container line Ocean Network Express (ONE) has announced plans to develop and integrate a smart container solution across its global fleet in collaboration with Sony Network Communications Europe. ONE expected the technology-enabled containers to give the company greater insights into its box fleet. The data will enable better visibility of the containers, faster and proactive dec
MSC announces rate increase from India and Pakistan to European major ports Swiss/Italian container carrier Mediterranean Shipping Company (MSC) has announced the following freight rates, which will be effective from 1 March 2023 until 31 March 2023. Port of loading Port of discharge Commodity Rate 20 DV Rate 40 DV & HC Nhava Sheva, India Antwerp, Belgium Freight All Kinds (FAK) US$1,350 US$1,400 Ennore, India Antwerp, Belgium Freight All Kinds (FAK) US$1,400 US$1,450 Ko
OOCL deploys additional vessel on North Europe - Canada service Orient Overseas Container Line (OOCL) has announced it will add a fifth vessel to its Gateway Express 1 (GEX1) service, which is connecting North Europe with Canada. Furthermore, COSCO-owned box carrier said that from 3 March, when the boxship Tuxpan is expected to be at the port of Antwerp in Belgium, there will be the following minor adjustments to the current weekly service: The post appeared
MARINET launches VR simulators for seafarer training MARINET, an industry association, introduced virtual reality (VR) simulators for seafarer training during Expo Maritime Philippines 2023. According to MARINET, the simulators can create a complete picture of both the navigational environment and the equipment on the ship's bridge merging virtual interaction with controls and devices. In addition, mathematical models of simulators model the state
Stena Line and Peel Ports sign new deal for UK terminal Stena Line, a Swedish ferry route and port operator, has signed a new deal with Peel Ports to operate their 12 Quays port and ferry terminal in Birkenhead, United Kingdom, until the beginning of the 22nd Century. The Swedish company has operated twice daily ferry services to Belfast since 2011 and this new deal will see them continue to operate there for at least another 77 years, until 2100. Bas
Maersk inches one step closer to Russia exit as it sells logistics assets A.P. Moller - Maersk has moved a step closer to discontinuing activities in Russia, having struck a deal to sell its logistics sites in the country to IG Finance Development. The Danish shipping and logistics group has offloaded its 1,500 teu inland depot facility in Novorossiisk and a chilled and frozen warehouse in St. Petersburg. ...
NorthStandard opens for business NorthStandard, formed through the merger of North and Standard Club, officially launched today as one of the world's largest providers of mutual maritime cover. With over 390 million GT of owned and chartered tonnage on its books, the new entity consolidates annual premiums of around $800m, employs over 700 people and brings together over 300 ...
Caspian Sunrise firms up drilling contract Caspian Sunrise, a Kazakhstan-focused oil and gas exploration and production company, has secured employment in the Caspian Sea for its 2012-built shallow-water drilling barge [m]Caspian Explorer[/m]. The formal agreement is expected to be signed in late March, with the one-well campaign for the Istay Operating Company LLP (IOC), a Kazakh-registered partnership between Eni and Kazakhstan's ...
Shipping calls on the UN to evacuate hundreds of seafarers stuck in Ukraine More than 30 shipping organisations and companies are urging the United Nations to prioritise the immediate release of seafarers and ships trapped in Ukraine. As the one-year anniversary of Russian invasion approaches, there are a reported 331 seafarers on board 62 ships stranded in Ukrainian ports. In an open letter to Secretary General Antonio Guterres, ...
Algoma ships out product tanker to Furetank JV and Larsson Shipping FureBear a product taker joint venture between Furetank and Algoma Central Corporation, together with Larsson Shipping, has taken over the ownership of Algoma's 2008-built. The 16,958 dwt vessel, which Algoma acquired for a reported price of $13.5m from Furetank's Gothia Tanker Alliance partner Rederi AB Älvtank in 2018, has arrived from Canada to trade ...
Vafias sells two bulk carriers to spin-off Imperial Petroleum is buying two Japanese-built handysize bulk carriers from its CEO, Harry Vafias. The ships, built in 2012 and 2013, will join the fleet by the end of next month. Imperial Petroleum is paying $25.5m for the pair as well as handing Vafias 13,875 series C convertible preferred stock. Imperial Petroleum was created as ...
ONE taps Sony to develop fleet-wide smart container solution Following Hapag-Lloyd's decision last year to equip all its containers with tracking devices, Japan's Ocean Network Express (ONE) has reached out to Sony to create a smart container solution across its global fleet. "The technology-enabled containers will give ONE greater insights about their container fleet. The data will enable better visibility of the containers, faster ...
Apache to terminate semisub contract with Diamond Offshore Houston-based Diamond Offshore Drilling has received a verbal termination notice from Apache Beryl I (Apache) for the semisub rig. The New York-listed company said Apache had the option to terminate the drilling contract which will last until at least July 2023. Diamond Offshore had previously expected the contract, which originally commenced in 2017 and ...
Supermarket sweep: Lidl grows box offerings At a time when many new entrants to container shipping are pulling back amid loss making freight rates, one German supermarket-backed line is doubling down. Tailwind Shipping Lines, founded last year by Lidl, one of Europe's largest retail chains, is launching a new service from Bangladesh to Europe with a focus on the textile trades. ...
Höegh LNG swoops for CoolCo's oldest vessel Norway's Höegh LNG has entered into an agreement with Eastern Pacific Shipping-led LNG shipowner CoolCo to acquire the 2013-built 160,000 cu m for $184.3m. Delivery should take place in late March or April 2023. Höegh LNG said the purchase price is in line with the market level for similar vessels and expects to employ the ...
Three months to get Iskenderun terminal operations back to normal Management at LimakPort Iskenderun, the Turkish container terminal badly battered in this month's mega earthquake, have said it will take around three months to get operations back to normal. The port was severely damaged in the wake of the February 6 earthquake and suffered structural damage, as well as a severe blaze as containers caught ...
Is shipping's business model incompatible with ESG? With the help of ChatGPT Santosh Patil questions whether shipping gets the governance part of ESG. Amongst the buzzwords you can find at various maritime seminars and conferences Environment Social and Governance (ESG) is the new omnipresent catchphrase. If one scrolls over social media feeds, it's difficult not to find posts by 'forward thinking' and ...
Fugro secures US wind site survey project Dutch surveyor Fugro has inked a letter of intent to optimise and carry out a site characterisation programme for undisclosed offshore wind development on the US East Coast. The programme is focused on accelerating the construction and operations permitting process and represents the company's latest work on the US East Coast. Fieldwork will begin in ...
CMA CGM looks to add more windshields to its fleet Officials at CMA CGM have confirmed they will look to install bow windshields on other ships, if tests on a prototype installed on the 16,000 teu prove a success. CMA CGM has followed Ocean Network Express (ONE) in installing a windshield, one of a host of innovations the group is working on to enhance the ...
Merced Capital takes over Telford Offshore US private investment firm Merced Capital has acquired Dubai-based offshore services provider Telford Offshore following a competitive sales process launched earlier this year. As part of the deal, Merced Capital, founded in 1988 by the team responsible for the development of Cargill's Financial Markets Department, has provided new capital to Telford, reducing its net debt ...
COSCO clears out vintage VLCCs Vintage VLCCs are selling faster at higher prices as each week of the year passes, with the most active selling nationality being Chinese. Staff working for Chinese shipowning giant COSCO's sales and purchase department have had to stay up late these days, lining up a third vintage VLCC sale in the space of a month, ...
Petrobras signs with Alcatel and Maersk consortium for permanent seismic monitoring system Petrobras has signed a contract with the consortium formed by Alcatel Submarine Networks and Maersk for the construction and installation of the permanent seismic monitoring system (PSMS) in the Mero field in the Santos Basin. The PSMS project will incorporate 4D seismic monitoring technology, the use of which will enable seismic records to be obtained ...
Williams executes agreement with Chevron to facilitate natural gas production growth in deepwater Gulf of Mexico Williams, a Tulsa, Oklahoma company with operations across the natural gas value chain, has executed an agreement with Chevron U.S.A. Inc. to support natural gas development in the deepwater Gulf of Mexico. Williams has agreed to use existing infrastructure to serve increased production from the Blind Faith platform, located 160 miles southeast of New Orleans ...
Tanker bull-run breaks records Tankers have gone from multi-decade lows to near historical highs over the past 12 months, with a number of records being broken. Average tanker earnings are now on track to have remained above $40,000 a day for eight months, the longest stretch on record, according to data from Clarksons Research. Likewise, Clarkson Research's secondhand tanker ...
Gard confirms tonnage gains as NorthStandard launches Norwegians secure healthy slice of additional entries, but may still come in below combined tally of merger partners
More containerships head for recycling So far, 10 containerships have been sold for scrap since January 1. These have a combined slot capacity of 19,000...
Türkiye's Iskenderun port to restart in three months Türkiye's Iskenderun port will fully restart operations in around three months after sustaining significant damage because of the two earthquakes...
The week in newbuildings: More methanol-fuelled orders confirmed Sino-Japanese shipbuilder Jiangsu Yangzi-Mitsui has won a new order from Algoma Central and CSL Group to construct four self-unloading bulk...
Armed men attack crew of bulk carrier at Belgian port Attack is a suspected drug-related incident
The week in charts: US vessel logjams subside | Boxship freight rates drop | Methanol-fuel bulk carrier orderbook boosted Dry market fails to inspire, first LNG carriers depart Freeport, and MSC joins other major operators in recent sales of...
The Lloyd's List Podcast: P&I renewals uncovered As this year's P&I renewals draw to a close, Lloyd's List's insurance editor David Osler has been talking to marine...
Grimaldi vehicle carrier crew tackle car-deck fire off Spain The 2021-built Grande California was sailing from Antwerp for Gioia Tauro. It was transporting some 4,500 vehicles, which included 48 electric...
Transatlantic load factors point to rates correction The transatlantic freight market has held up even as others have fallen. But with no demand growth and deployed capacity...
Maersk makes further exit from Russia Maersk had already decided to wind down any activity relating to Russia following the situation in Ukraine. It has now...
UN urged to evacuate ships and crews stuck in Ukraine The International Chamber of Shipping and the European Community Shipowners' Associations are among more than 30 signatories to sign an...
Daily Briefing Zodiac tanker hit in latest Iran drone attack | Six states expected to enter IMO leadership battle | Shipping and...
Meratus links with Google Cloud to build maritime logistics 'super app' Container line company hopes AI-powered tools can reduce equipment downtime and maintenance costs, achieve operational effectiveness and improve safety
LNG importers in Japan switch to Middle East and Asia suppliers The drop in imports from the US is likely to be attributable to the shutdown of the Freeport LNG terminal in...
ONE commits to sensor-equipped dry container fleet Singapore-based Ocean Network Express, the sixth-largest global container line, will work with a division of Sony to track its global fleet of boxes.
Head of admiralty Dwyer tops list of new defections as Ince crisis drags on Senior partners Christian Dwyer and James Drummond are leaving the stocklisted Ince Gordon Dadds law firm amid financial reporting troubles and a suspension of trading
Norway's Gard makes bumper tonnage and premium gains at annual P&I renewal Leading insurer bulks up as new industry heavyweight rival emerges
Tanker crew clock up six months in detention as Nigeria case rumbles on Seafarers remain on seized VLCC with charges hanging over them in oil lifting and piracy dispute
Shipowners, industry groups and charities call on UN to evacuate crews trapped in Ukraine Organisations ask secretary general Antonio Guterres to step in
Bourbon and Horizon form new venture to drive offshore shipping consolidation French and Canadian owners will jointly operate seven vessels in harsh environments
Growth still on agenda for Ocean Yield as it confirms CMB newcastlemax swoop KKR-owned sale-and-leaseback specialist invested $1bn in new ships last year
Oldendorff's M&M Bank builds shipping book despite cash-rich shipowners paying off loans Norwegian lender says there may be corrections ahead in container and dry bulk markets, however
Newly merged NorthStandard P&I club gets S&P ratings boost Powerhouse announces full management line-up
Fleet renewal: Venezuela's PDVSA orders bargain aframaxes in Iran Company strikes deal under existing construction agreement with shipbuilder Sadra
Tanker crew clock up six months in detention after Nigerian trial delayed again Seafarers remain on seized VLCC
'No mercy': Liquidators to wind up Aussie start-up Focus Container Line Liner shipping newcomer falls victim to a sharp market downturn amid fierce competition from established players
Braemar hands out $2.4m in stock to bosses as it seeks capital reduction UK shipbroker rewards performance of executives, while bidding to increase its dividend capacity
ONE teams up with Sony to track its containers Liner group will develop a smart system across container fleet
VLGCs hit $77,000 per day but market pricing in weaker rates over the summer Gas carrier sector still climbing as US exports drive tonne-miles
FureBear takes ownership of one of partner Algoma's product tankers Vessel will fill a gap until newbuildings arrive
Furebear takes ownership of one of partner Algomar's product tankers Joint venture between Canada's Algoma Central and Sweden's Furetank takes delivery of former Algonorth to fill a gap before newbuildings arrive
Israel's PM blames Iran for Zodiac Maritime tanker attack Campo Square damaged in Arabian Sea incident
Shipowners, industry groups and charities call on the UN to evacuate crews trapped in Ukraine Letter from 32 organisations asks secretary general Antonio Guterres to step in and help seafarers trapped in the war-torn country
Telford Offshore eyes growth after takeover by Merced Capital New cash injection wipes out construction vessel owner's debt
Hoegh snaps up CoolCo LNG carrier as it eyes future FSRUs Sale releases cash for Eastern Pacific's new LNG baby to expand further with possible newbuilding resales from its parent
Big liners sign anti-drugs pact with the Low Countries MSC, Maersk, CMA CGM, Hapag Lloyd and Seatrade pledge to up their game against narcotics in Antwerp and Rotterdam
Namura Shipbuilding bosses upbeat after turning around losses Profits comes despite rising costs and a challenging shipbuilding market
Carisbrooke to test hydrogen engine that comes in a container Anglo-Dutch operator teaming with UK start-up Carnot for trial
First LNG carrier of 2023 sold for demolition More steam turbine vessels emerging for sale but some may be in demand for conversion projects
'Enduring strength': tanker rates break fresh records as prices spike 50%, Clarksons says Analyst Sarah Holden says earnings have stayed above $40,000 per day for the longest period on record
CSL and Algoma order methanol-ready self-unloading bulk carriers The vessels, to be built to a new design, will be methanol-ready
MSC, Transworld and Sinokor sell unwanted container ships for recycling Smaller container ships being phased out of fleets are heading off to recycling beaches in India and Bangladesh
Ameriflight adds 35 heavy-duty cargo drones to wish list Ameriflight is tentatively betting on two futuristic cargo aircraft from startup manufacturers to augment its feeder service for integrated express carriers.
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