Maritime not yet ready for prime time on alternative fuels The maritime industry is not yet ready for the safe adoption at scale of alternative fuels. That's the key take-away from a new report from the Maritime Technologies Forum (MTF), which says
Former Chouest OSV to become marine spaceport ABS is supporting the reactivation and modification of an offshore support vessel (OSV) to function as the world's first marine spaceport for human space flights. The flights will be operated by Space
Downtrend for bunker indices Global MABUX bunker indices experienced a sustained downward trend. The 380 HSFO index fell to US$508.54/MT, the VLSFO index decreased to US$646.49/MT and the MGO index saw a larger decline of US$25.57 to US$865.83/MT. "At the time of writing, downward dynamics prevailed in the market," pointed out a MABUX official. The Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO
Drewry's World Container Index snaps losing streak as Transpacific spot prices shoot up The Drewry's World Container Index (WCI) snapped its losing streak, registering a 3.8% weekly uptick for the index on the back of strong price upswings in the China-US trade route. The Shanghai-Los Angeles (China-US West Coast) trade lane whose prices had taken the largest hit, appreciated 11% for the week to rise from US$1,674 to end at US$1,856. The outperforming Shanghai- New York (China-US Ea
DNV opens new Technology Centre to accelerate energy transition DNV, the independent energy expert and assurance provider, launched its new Technology Centre on Groningen's Zernike campus in the Netherlands. The new, sustainable facility is equipped with the latest testing equipment to support DNV's research into the decarbonisation of energy systems. According to DNV, the Technology Centre will articulate research and technology qualification for the energy
New straddle carriers enhance HHLA's Container Terminal Tollerort operations Hamburger Hafen und Logistik AG (HHLA) has proceeded with the renewal of the straddle carrier fleet at its Container Terminal Tollerort (CTT) with eight new straddle carriers with hybrid drive going into operation in April. These vehicles consume significantly less fuel and thus also emit correspondingly fewer emissions, according to HHLA's statement. Including these eight new units, the hybrid s
Tangshan Hede starts service to Vietnam and Thailand Chinese operator Tangshan Port Hede Shipping, part of the Hebei Port Group, which had operated coastal box shipping services as well as China-Japan-South Korea routes, has expanded into Southeast Asia, with a new service connecting Tangshan port with Ho Chi Minh and Laem Chabang in Vietnam and Thailand. The service kicked off with the 1,096 TEU HS Hong Kong departing Tangshan on 7 April. Accordin
UWL opens new office in Brazil UWL, an American-owned NVOCC and provider of global 3PL services, opens a new office near the port of Itajaí in Brazil. The around 750 m² facility serves as the central location for most of the company's Brazil-based workforce, which has grown by 500% over the last five years, outgrowing multiple smaller office locations throughout the region. The location overlooks the Port of Itajaí and Navegan
Allseas Global Project Logistics to wind up Allseas Global Project Logistics, which started liner services during the Covid-19-induced box shipping boom, has been ordered by a United Kingdom court to be wound up. Audit firm Grant Thornton has been appointed as the liquidator, and unsecured creditors are unlikely to have any recourse. Allseas Global Project Logistics' administrators had earlier stated they would move to compulsory liquidati
Reduced cargo mobility at Port of Long Beach Port of Long Beach (POLB) reported a decline in volumes during March, nearly one-third from the same month last year. Retailers continue to clear warehouses and shippers shuffle routes from the West Coast to seaports on the East and Gulf coasts, according to the port's statement. In particular, dockworkers and terminal operators moved 603,878 TEUs last month, down 30% from March 2022, which was t
ONE orders two containerised units for wind-assist propulsion Singapore-based Ocean Network Express (ONE) has decided to install two containerised wind assist units on one of their operated container feeder ships before the end of the year. The 1,036 TEU boxship Kalamazoo is owned by Singapore-based Norse and the wind assist systems will be supplied by the Netherlands-based company, Econowind. This is one of the key initiatives of ONE's operational cost opt
DNV introduces real-time emissions data verification solution DNV has launched Emissions Connect, an emissions data verification engine and data management platform, to help the maritime industry accurately assess and work with emissions data. The solution provides a trusted, verified source of emissions data that can be shared securely with all relevant stakeholders along the maritime value chain. "Reducing emissions and reporting on progress is becoming i
Hapag-Lloyd completes share acquisition in J M Baxi Ports & Logistics Limited German container shipping company Hapag-Lloyd has finalised the acquisition of a 40% stake in J M Baxi Ports & Logistics Limited (JMBPL). In January 2023, Hapag-Lloyd reached an agreement for the takeover of the Indian shipping firm's shares with an affiliate of Bain Capital Private Equity, which owned 35% of JMBPL, and the Kotak family, who own the majority of JMBPL shares. The contractual parti
Wan Hai Lines names three new boxships Wan Hai Lines hosted ship naming ceremonies for WAN HAI 361, WAN HAI 362, and WAN HAI 366 at Japan Marine United Corporation TSU Shipyard. WAN HAI 361 and 362 are the 10th and 11th vessels, respectively, in a series of 3,013 TEU container ships, while WAN HAI 366 is the second vessel in a series of 3,055 TEU vessels. Japan Marine United Corporation TSU Shipyard constructed the three container shi
CMA CGM introduces new service for tuna reefer shipments ex Abidjan CMA CGM has announced a new service specially dedicated to tuna reefer shipments out of Abidjan, Côte d'Ivoire. CMA CGM, along with its subsidiary Ceva Logistics, has introduced this solution which is expected to allow their customers to plug their export reefers during the documentation process. Additionally, the new product is will offer an area located 200 metres from Abidjan Fishing Port, wit
Höegh Autoliners bags five-year Asia-Europe vehicle shipping deal Norway's Höegh Autoliners has landed a five-year deal with a major Asian automaker to carry cars from Asia to Europe. The Oslo-based company, which operates around 40 roros and makes about 3 000 port calls each year did not disclose the numbers, but said the contract that starts this month has a "significant value". Andreas ...
Diana Shipping clinches $100m for debt refinancing Greek bulker owner Diana Shipping has tapped Danish Ship Finance for a $100m loan maturing in April 2028. The New York-listed firm has used the proceeds to refinance two existing loans with BNP Paribas of about $75.2m and another loan facility with DNB Bank of approximately $11.8m. Diana said the leftover cash may be used ...
UN taps Boskalis to remove oil from decaying FSO off Yemen Boskalis' SMIT Salvage has been tasked to remove oil from the decaying floating storage and offloading unit (FSO) moored off Yemen's Red Sea coast. The single-hulled oil tanker, built in 1976 and converted in 1987, is believed to hold 1.14m barrels of light crude oil. Due to the crisis in Yemen, the FSO has not been maintained ...
MISC makes green finance debut with $527m loan Malaysia's top shipping line MISC has clinched what it says is its first sustainability-linked loan. The company with more than 100 ships in its fleet, sealed an 11-year, $527m syndicated loan through its subsidiaries in Singapore, for the financing of six very large ethane carriers (VLECs). The ambitious environmental key performance indicator (KPI) is benchmarked ...
Excelerate completes $265m Maran Gas FRSU purchase New York-listed floating regasification specialist Excelerate Energy has completed the acquisition of FSRU from Greece's Maran Gas. The Texas-headquartered company paid $265m for the 173,400 cu m Sequoia currently operating at the Bahia Regasification Terminal in Bahia, Brazil. The Daewoo Shipbuilding and Marine Engineering (DSME)-built unit, capable of operating as both an FSRU and LNG ...
Ulstein readies foundation vessel design for Singapore offshore wind newcomer Cyan Singapore-based offshore wind vessel pure-play Cyan Renewables has contracted Dutch-based Ulstein Design & Solutions, part of Norway's Ulstein Group, to design a series of new offshore wind foundation installation vessels (FIVs). With a shortage of specialised offshore wind support vessels, these new FIVs are needed to fill the gap and will enable Cyan to support ...
Vietnam taking significant volume of US-bound box exports away from China Global trade patterns are being remoulded at a fast clip, with reshoring now clearly diminishing China's dominance in the transpacific box trades. Covid, a more strident China, tensions along the Taiwan Strait, and the war in Ukraine have all played their part in many companies looking for alternative places to source their goods lately. Data ...
CIMC Raffles seals domestic WTIV order Chinese yard CIMC Raffles has revealed an order from fellow construction firm CRCC Harbour & Channel Engineering Bureau Group for the construction of an offshore wind turbine installation vessel (WTIV). According to CIMC, the unit will be the most advanced fourth-generation self-propelled WTIV that will enter service for the construction of offshore wind farms in ...
Argeo awarded Norwegian deepsea survey contract Norwegian surveyor Argeo has been awarded a contract by the Norwegian Petroleum Directorate (NPD) for multi-sensor data acquisition with autonomous underwater vehicles (AUV) in the northern part of the Mid-Atlantic Ridge. The purpose of the deep-sea survey is to further evaluate mineral resource potential in the 500-km-long Knipovich Ridge. The project, with a contract value ...
Chinese commodity demand soars back The dragon is back, firing on all cylinders, giving hope to anyone involved in the shipping of commodities to the country with the largest population in the world. China, shorn of the shackles of covid finally, has provided plenty of hugely encouraging data points for tanker and dry bulk owners this week. Gross domestic product ...
IMO study makes the case for more ambitious green targets A study commissioned by the International Maritime Organization (IMO) shows that the hurdles regularly cited barring the way to shipping's decarbonisation are all surmountable. The study, which has been sent to the Marine Environment Protection Committee (MEPC) which meets in London this July, potentially paves the way for member states to agree on more ambitious ...
Two suction sails to be installed on ONE feeder ship Japanese liner Ocean Network Express (ONE) has decided to install two containerised wind assist units on one of its operated feeder ships before the end of 2023. The 143 m long, 1,036 teu capacity is owned by Singapore-based Norse and the wind assist systems will be supplied by the Netherlands-based company, Econowind with its VentoFoil ...
Lomar to install carbon capture device on boxship next month Lomar's new subsidiary lomarlabs is working with London-based climate tech start-up Seabound to develop cost-effective methods to capture CO2 onboard vessels. Lomarlabs works with entrepreneurs who bring deep tech solutions to the maritime industry and helps them de-risk their technologies and optimise their business models. This venture is spearheaded by former Lomar technical director Stylianos
Canadian Pacific and Kansas City Southern complete combination Canadian Pacific and Kansas City Southern today completed their $31bn combination to create Canadian Pacific Kansas City (CPKC), establishing the first single-line railway connecting Canada, the US, and Mexico. "Today, we celebrate this historic combination creating a truly unique single-line rail network that begins a new chapter of railroad history in North America," said CPKC ...
Eneti moves to up wind game with offshore driller Transocean Emanuele Lauro-led offshore wind player Eneti and offshore drilling giant Transocean are looking to join forces in the rapidly growing offshore wind services sector. The New York-listed duo has signed a non-binding memorandum of understanding with the intention of setting up a joint venture company that will engage in offshore wind foundation installation activities. The ...
Shipmanagement margins hit by global inflationary pressures As with any consumer or business, shipmanagers have had to fight soaring inflation issues over the past year. Their problem? The hefty competition keeps a lid on how much they can raise their fees. This has led some to question the very business model of third-party managers. The International Monetary Fund predicts global inflation to ...
Russia to boost grain shipments from illegally occupied port in Sea of Azov Barge operations have been reportedly running from the occupied territory, but attempts to full reopen the port to shipping have...
Biden extends ban on Russia-affiliated vessels from US ports US extends ban on Russia-linked ships from calling in US ports
Shipowners' Club sees surplus but takes hit on investments Growth in both membership and aggregate entered tonnage, but small drop in number of entered vessels
Scenario planning critical to supply chain resilience Supply chain disruption cannot always be forecast. But there are steps that can be taken to ensure that when they...
Lomar in carbon capture partnership with UK start-up Company is working with charterers for a vessel to 'catalyse the development of this novel technology'
Rio Tinto ships record iron ore volumes The miner is focusing on materials needed for the energy transition and is involved in studies for unlocking the largest...
Port Sudan reopens after fighting forces closure Conflict likely to mean 'significant setbacks' for shipping companies and importers/exporters, West of England P&I club says
Efficiency measures can cut energy demand by 27% in 2050 Research submitted to the International Maritime Organization shows the availability of alternative fuels for shipping is only expected to be sufficient to...
China accounts for over half of global newbuilding orders All car carrier newbuilding orders placed in the first quarter of the year have been won by Chinese shipyards
Shell's former shipping chief says safety must regain priority status The overwhelming drive for decarbonisation is not helping the industry to improve levels of safety, says Grahaeme Henderson
Eneti to form offshore wind venture with Transocean Deal involves conversion of at least two Transocean vessels into floating offshore wind foundation installation platforms
MISC nets $527m sustainability-linked loan to fund VLECs Standard Chartered Bank plays a lead role as structuring bank, sustainability coordinator, and hedge coordinator for loan
ONE to trial box-mounted wind assistance Wingsail technology offers potential for reducing fuel burn. But until now it has been difficult to adapt to boxships
Genco's Zafolias steps down as finance chief Apostolos Zafolias is departing the US-based dry bulk company to pursue an opportunity outside of the maritime industry
Full warehouses and labour issues soften Long Beach's volumes Shifting cargo volumes amid the protracted labour negotiations, reduced consumer spending and full warehouses have softened the port of Long...
Shipping survey shows need to embrace multi-fuel future to reach decarbonisation A survey of key shipping companies was conducted to understand how shipping industry leaders are thinking about future fuels
Matson expects drop in profit linked to transpacific demand doldrums Hawaii-based company expects a substantial hit to first-quarter net income but sees demand improving in the second half of the...
Daily Briefing Box freight rate slump shows signs of easing | West coast ports lose over 1m teu of imports per year...
Weekend chassis access becomes post-COVID sticking point in US Some truckers think it is unfair that shippers incur demurrage on weekends when railroads are open and chassis locations are closed, but it's a complex issue without an easy answer.
Should chassis locations be open on weekends in all US cities? Some truckers think it's unfair that shippers incur demurrage on weekends when railroads are open while chassis locations are closed, but it's a complex issue without an easy answer.
Breakbulk23: Changing trade, political dynamics demand 'new pragmatism' An advanced sense of "pragmatism" is needed for shippers and nations to cope with changes wrought by war and climate change, attendees at the Journal of Commerce's Breakbulk & Project Cargo Conference were told.
ILWU says has tentative deal with PMA on 'key issues,' but withholds details The ILWU statement comes even as Local 13 continued to engage in job action this week that has been slowing cargo handling at the ports of Los Angeles and Long Beach.
High slot cost of methanol ships will depend on demand: ABS The scale of demand for green methanol and the number of market participants involved in producing the zero-carbon fuel will play a crucial role in setting prices and maintaining price stability, observers say.
Singapore's maritime start-ups look to weather tech sector meltdown Record results in some shipping sectors are helping narrow the funding gap caused by the slowdown, say industry observers
ABS and DNV: Transparency and trust key to development of maritime tech in Asia Class societies say technology covering the entire value chain is needed, not just vessel optimisation
Thomas Wilhelmsen: Asia has a lot to offer in the way of technology development Group chief executive says technology development for shipping requires global collaboration
New technologies are working, says Thomas Wilhelmsen Norwegian shipping conglomerate CEO shares some of the successes with technology his company has encountered
Bigyellowfish founders reveal how Asian tech start-ups can raise funding Seafarer well-being platform co-founders say region is an exciting investment space provided you come well prepared
EPS Ventures on the hunt for start-ups tackling decarbonisation Singapore-based shipowner believes small stakes in early stage start-ups can contribute a lot to greening shipping
Groundup.ai finds perfect match in $1.8m seed funding round Singaporean tech start-up claims finding the right investor is akin to finding a marriage partner
Asian venture capital appetite for tech is growing, but US still leads Asian venture capitalists are interested in maritime tech but need the hard sell, backers and start-ups say
Microsoft and all-star shipping cast back Hafnia-led tech accelerator But partners in Singapore-seated technology venture say they will be providing more than just acceleration
Special report: Asia stakes out role as gateway for maritime tech ambitions In our latest business focus, TradeWinds reporters Jonathan Boonzaier, Dale Wainwright and Irene Ang report on how Asia is taking a leading role in digital tech, why 'collaboration', 'transparency' and 'trust' are critical to success, and how the region is showing off its potential for talent and sophisticated innovation
Bureau Veritas' marine and offshore business boosts revenue off more newbuildings and surveys Classification society's first-quarter revenue improves 11.5% to €113m
Vale and Rio Tinto boost iron ore output as China property sector recovery powers outlook Vale's expectation to meet full-year production guidance should benefit capesize bulkers, analyst says
Diana takes out $100m loan to refinance debt maturing by May 2024 New York-listed shipowner's long-term debt stands at $663m as of late February
Jason Liberty earns almost $11m in first year as Royal Caribbean chief executive He made $13m in 2021, which was his last year as company's chief financial officer
Ofac official sees no widespread evasion of oil price caps Senior official individuals behind faked pricing documents are the targets for enforcement
Boskalis strikes deal with UN to retrieve oil from stricken tanker Salvage team poised to leave Rotterdam to prepare for Red Sea operation
Western shipping linked to oil price-cap busting port in Russia's Far East US sanctions body will lay out concerns
MISC seals $527m debut green loan for fleet of VLECs Shipowner taps Standard Chartered and other big names for sustainability-linked financing
Flipping frenzy: MR values keep on rising as Bahri leads the way on sales Greece's Spring Marine and Turkey's BLT also seal money-making deals
Greece's M/Maritime makes first ship sale in fleet renewal move John Mytilineos-backed bulker owner disposes of its oldest vessel and sets sights on younger, chartered-in ship
Shipowners' Club upbeat after strong underwriting result Specialist ship insurance mutual registers an underwriting profit last year
Hoegh Autoliners nets deal with Asian automaker to bring vehicles to Europe CEO hails 'milestone' agreement
And then there were six: AMA Capital Partners beefs up with addition of veteran banker Chris Weyers Streetwise takes a look at finance man's departure from Stifel after 11 years and how his new employer may benefit
Tankers operating in 'opaque' markets hit 1,000 mark Vortexa says vessels solely hauling Russian oil represent half of a fleet that is also operating in Iran and Venezuela
'Costly flaws': Norway's electric ferries are over-engineered; lighter energy-efficient vessels are needed Publicly funded electrification of ferries in Norway are costly and inefficient, argue Brim Explorer co-founders Espen Larsen-Hakkebo and Agnes Arnadottir
Lomar's tech fund backs Wen and Fredriksson's carbon-capture start-up Seabound Greek owner sees first fruits of diversification into technology
Start-up Cyan tasks Ulstein with designing wind ships in $1bn push Singapore company set to order floating foundation installation vessels
Inmarsat satellite outage highlights weaknesses in global distress signal system Was ageing infrastructure to blame for the incident, which affected vessels in the Asia-Pacific region?
Western shipping linked to oil price-cap busting in Russia's Far East US sanctions body set to lay out concerns over Western involvement in shipping oil from Russia's Far East
Eneti and Transocean form joint venture to convert drillships for wind work Scorpio Group shipowner to work with drilling company as it moves into renewables
Philly Shipyard shareholders bump share capital as orders roll in US builder has come roaring back in recent years, thanks to government contracts and offshore wind
Who will win the race to replace IMO's Kitack Lim? Three of the leading candidates to be IMO secretary-general talk to TW+ about their values and vision for the UN's specialised shipping agency
Excelerate Energy concludes FSRU buy from Maran Gas Maritime Completion of purchase will bump up company's regas vessel fleet to eight fully-owned units
Snam FSRU runs into protests over deployment off Tuscan town Residents claim no independent study has been carried out for environmentally sensitive waters
Turkey's Saros FSRU completes first ship-to-ship gas transfer BW Gas vessel delivers Algerian natural gas to new FSRU in the Aegean
Tina Revsbech leaves Fednav for family after three years It is a case of 'mission accomplished', Fednav's chief executive told TradeWinds
Who will win the race to lead IMO? Three of the leading candidates to be IMO secretary-general talk to TW+ about their values and vision for the UN's specialised shipping agency
Tanker and bulker values have further to climb, says Tufton Oceanic Shipowner reveals bigger profit for first quarter and eyes asset-value upside
The IMO must win a consensus on carbon or shipping will face chaos The failure of the industry's global regulator to agree on global frameworks for carbon cuts could see it lose control of the agenda
Italian justice minister accuses judges over flight of Russian 'oil smuggler' Artem Uss fled last month to avoid extradition to US over sanctions breach claims
Perfect Bulk arrests Amaar Marine bulk carrier in Singapore Chinese charterer wants its money for unconsumed bunkers it supplied to vessel with a troubled history
Chemical carrier sales leave Greathorse nearer tanker exit door Two more vessels reported sold after CMB and Armina Shipping raided fleet last year
BW Offshore sells FPSO as it pivots to greener investments Oslo-listed group to book a small profit on disposal of the BW Athena
War of words intensifies over Ukraine grain shipments Russian Foreign Ministry accuses Ukrainian ship inspectors of asking for bribes in a series of tit-for-tat claims
Shipowner Kumiai Senpaku doubles down on niche with Chengxi newbuilding The Japanese company now has a total of four newbuildings on order at the Chinese yard
New York venture capital firm buys stake in Vortexa Big-time investors continue to take positions ahead of commodity technology and intelligence sector's consolidation phase
Hafnia makes it $116m from 2023 sales as LR1s continue to depart BW Group company moves on to shedding 2008-built vessels after selling 2007 ships
Matson expects much lower first-quarter profit absent pandemic-driven demand Operator expects operating income for ocean transportation sector to be mere fraction compared to a year earlier
Price cap on Russian crude could soon face its biggest test Mainstream tankers have moved into the Russian crude export trade. The price cap might push them back out again.
DHL Express to buy 9 Boeing 777 jets converted for cargo DHL Express is ordering nine passenger-to-freighter conversion aircraft to modernize its large fleet.
Air cargo operators still feel 'hangover from the 2021 party' Air cargo professionals hope demand has hit bottom and will start to improve soon, but there could be further downside if some barometers are true.
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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