Crescent Towing starts construction of 6,000 hp Z-drive tugboat New Orleans based Cooper Group subsidiary Crescent Towing has begun construction of a new 6,000 HP tier 4 Z-drive tugboat at Blakeley BoatWorks in Mobile, Ala. It will be immediately added to
VIDEO: Japanese icebreaking research vessel project moves ahead JAMSTEC (Japan Agency for Marine-Earth Science and Technology) has taken another step forward on the build of Japan's first research vessel with icebreaking capabilities. The icebreaking research ship is on order at
GD Electric Boat lays keel for SSN 805 Senior Navy leaders and shipbuilders gathered at General Dynamics Electric Boat shipyard in Groton, Connecticut, yesterday, to attend a keel-laying ceremony for the future Virginia-class submarine USS Tang (SSN 805), Aug. 17.
Oil mist detector malfunction likely caused $3.4 million collision A false alarm from an oil mist detector is seen as playing a key role in an August 2022 collision in the Sabine Pass, Texas, involving an 18,143 dwt Netherlands-flagged general cargo
Port of Long Beach receives grant to enhance security The United States Department of Homeland Security has awarded a US$2.72 million grant aimed at enhancing security at the port of Long Beach, in order to ensure the safe and efficient movement of cargo in the wake of an emergency. More specifically, according to the port, the funding is going to modernise its core security network, strengthen existing security systems and enhance resiliency and bu
Maersk sets sights on reefer-only rail service for North India shippers amid integrator push Maersk is set to roll out a reefer-only containerised rail service between North India and Nhava Sheva Port, propelling its ability to garner more export volumes. The maiden train trip from Dadri ICD (inland container depot) has been scheduled for 21 August. According to Maersk (India), the new service is a first for refrigerated exports connecting via Nhava Sheva, designed to feed its ME2 (India
NWSA handles decreased box volumes in July The Northwest Seaport Alliance (NWSA), a partnership of the ports of Seattle and Tacoma in the United States, reported 234,875 TEUs in July, translating to a year-over-year decrease of 9.9%. NWSA said that full imports remained relatively steady (+0.2%), while full exports fell by 7.6% in the previous month. "The year-over-year comparisons continue to reflect the pandemic-driven conditions of 202
Humanitarian corridor's first vessel arrives in Turkey In what was a momentous move the first vessel to leave a Ukrainian Black Sea port since the end of the Grain Deal in July has arrived safely at the port of Ambarli, near Istanbul, Turkey. The Bernhard Schulte-owned Joseph Schulte sailed from Odessa on 16 August, picking up bunker fuel before setting sail on what Kyiv now calls its Humanitarian Corridor. It was unclear whether the Russian military
Record haul of transshipped drugs seized in Taiwan's Kaohsiung port Taiwanese authorities have uncovered the island's largest case of drug transshipment in containers after 180 tonnes of kratom were discovered in seven containers awaiting transshipment in Kaohsiung port. The cargoes, which arrived from Indonesia's Tanjong Priok port, were bound for Los Angeles port in the United States. Kratom is used to treat muscle pain, cramps and diarrhea. The drug is legal i
Canberra prepares next supply chain five-year plan Australia's minister for infrastructure, transport, regional development Catherine King has laid out the terms of reference for the next supply chain five-plan. A review of the current plan is under way with the government assessing if there are any gaps in the plan, which ends in 2024, including whether the plan remains relevant as a modern strategy, including decarbonisation goals, supply chain
Maersk upgrades service linking Far East and India Subcontinent Maersk has decided to upgrade its FI3 service, connecting Far East Asia with India Subcontinent, adding an extra container ship on the rotation. Maersk said it will expand its vessel deployment from six to seven boxships and expects this change to enhance its service capacity in both directions. Additionally, the Danish box carrier has made alterations to the service port rotation, which will be
DHL Supply Chain to open new distribution center in US DHL Supply Chain, part of DHL Group, announced a new, 70,000m² distribution center in Violet Township, Ohio. The new distribution center in the United States, which will be located near DHL Supply Chain's US headquarters in Westerville, Ohio, is scheduled to open in the second quarter of 2024. According to the company, this addition brings DHL's total footprint to around 1.4 million m² in its hom
Port of Montreal announces interim president and CEO The Montreal Port Authority (MPA) has announced that Geneviève Deschamps, current vice president of Finance at MPA, will be interim president and chief executive officer, effective from 21 August 2023. "Geneviève has all the leadership qualities required to ensure the continuity of operations, mobilise the teams and pursue the deployment of the strategic plan," said Nathalie Pilon, chair of the M
MSC withdraws from acquisition of Livorno's container terminal Swiss/Italian shipping company MSC has decided to withdraw its interest in buying Terminal Darsena Toscane (TDT) at the port of Livorno in Italy. Obstacles from competition authorities seem as the most possible reason for this decision. It is important to note that Terminal Investment Limited (TIL), MSC-owned port operating company, announced the acquisition of the container terminal in January,
CMA CGM applies new FAK rates from Europe to US East Coast and US Gulf French ocean carrier CMA CGM has announced the following updated Freight All Kinds (FAK) rates from all ports in North Europe, including North France, United Kingdom, Ireland, Scandinavia, Poland, Baltic, Portugal, and the ports of Bilbao, Vigo and Gijon in Spain to all North US Atlantic ports (New York, Norfolk), South Atlantic (Charleston, Savannah, Miami), all US Gulf ports (Houston, New Orlea
Blockchain and freight: The pragmatic use cases of the decentralized ledger Logistics is one of the fundamental aspects of the business world. It keeps the entire economy going by ensuring that products move from the suppliers to the manufacturers and then all the way to the sellers or retailers to eventually reach the buyers themselves. The supply chain is a highly complex feature that includes a comprehensive series of transactions and movements. If it doesn't work cor
HHLA records decline in revenues and profits in first half Hamburger Hafen und Logistik AG (HHLA) has announced a drop in revenue and earnings in the first half of 2023. More specifically, revenue in the HHLA Group fell by 6.7% to US$793.2 million in the first six months of 2023, while earnings before interest and taxes (EBIT) of the German port operator decreased by 50.3% to US$54.9 million. The EBIT margin reached 6.9% from 13% in the previous year. Pr
Dry bulk's malaise ever grander with demise of top Chinese property developer From bad to worse. The sense of despondency that has set in among many dry bulk owners this year has added a further layer of glumness with news from New York where China's Evergrande Group, an embattled real estate developer, has sought Chapter 15 bankruptcy protection. Chinese real estate is one of the biggest drivers ...
DNB sells down in Seadrill Norway's DNB Bank has offloaded 1m shares in New York and Oslo-listed offshore driller Seadrill. The share sale is equal to around 1.25% of the outstanding shares in the company, leaving DNB with a 1.79% holding in Seadrill. The shares have been sold to a limited number of Norwegian and international institutional investors, according to ...
Boxship completes landmark voyage out of Ukraine paving way for other vessels to exit The 9,400 teu dropped anchor off Istanbul this morning, completing a hugely significant voyage, becoming the first of some 60 ships to leave having been stranded in Ukrainian waters since war broke out with Russia 541 days ago. Other marooned vessels are now readying voyage plans to make use of Ukraine's newly created humanitarian corridor ...
Trøim's Borr Drilling looks to speed up delivery of jackup newbuilds Tor Olav Trøim has stepped up his ambition in the offshore drilling market with plans to bring forward the delivery of two jackup rigs under construction in Singapore. Trøim's Oslo and New York-listed Borr Drilling is in talks with Seatrium, the former Keppel yard, for an expedited delivery of its newbuilds Vale and Var to ...
Gardline awarded survey contract for UK Southern North Sea gas project Gardline, part of Boskalis, has secured a contract from Hartshead Resources and its joint venture partner Rockrose Energy to carry out a geophysical pipeline route survey across Anning and Somerville gas fields in the UK Southern North Sea. The 1987-built and 2007-reconfigured multi-role survey vessel has been earmarked for the job, expected to start in ...
Ford Australia charters Cido car carrier Ford Australia has signed a three-year charter to take Cido Shipping's 2,600 ceu car carrier . The ship will ply routes from Ford's Thailand manufacturing centres to customers in Australia and New Zealand. "We are investing significantly in tackling the ongoing supply chain issues head-on, with a focus on ensuring customer cars are delivered as ...
Singapore yard worker faces jail sentence over corruption charges A commercial executive who worked for Sembcorp Marine has appeared at a court in Singapore, charged with corruption offences. Balakrishnan Govindasamy, a 61-year-old Malaysian, stands accused of corruptly obtaining at least S$202,877 ($149,000) during a six-year period through to 2021 from nine contractors. Govindasamy faces a fine of up to S$100,000 or up to five ...
Data is the key to a future of emissions trading High profile decisions at July's Marine Environment Protection Committee will accelerate the International Maritime Organization's decarbonisation ambitions for shipping, but a proposal of apparently smaller consequence could lay down a data marker for global emissions trading writes Eleni Polychronopoulou, the CEO of METIS. Fotini Ioannidou, head of maritime safety at the European Commission was
Let Moritz Schulte be a warning to all shipmanagers Ships must have and stick by competency management systems. But this incident should prompt further industry reckoning with the conditions...
Minor bulks boosted by petcoke import demand Petcoke trades are seen as a positive for the dry bulk market with shipments from the US, Saudi Arabia and...
Angelicoussis exercises options for four more dual-fuel suezmaxes Doubling of firm suezmax orders follows delivery this year of four dual-fuel VLCCs to tanker arm Maran Tankers
StealthGas eyes larger LPG carriers as profits hit record heights Three newbuilding medium-sized gas carriers of 40,000 cu m are on order
Box rates hold steady but may have peaked Carrier capacity management has held spot rates, but demand is looking weaker. The transatlantic market is a warning of the...
What if Panama Canal droughts are the new normal? Until now, shipping has always found a workaround to restrictions on using this key waterway. But it won't be able...
Biden urged to resolve Suez Rajan debacle amid rising tensions in Strait of Hormuz Suez Rajan has been anchored off Galveston, Texas, since late May laden with Iranian oil that US companies are reportedly...
Moritz Schulte investigation uncovers failings on ship and on shore Investigators were critical of the ship's management for significant shortcomings in crew competency management, especially in allowing promotions without evidence...
China launches Shanghai container freight index futures Backers say the new contracts could improve China's influence in export and shipping trade pricing. But previous attempts to kick-start...
Navigator Gas lifted by strong handymax earnings Gas carrier owner nearly doubles net income from the same period in the past year, and expects an even stronger...
Daily Briefing Sanctions-busting Russian tankers shift management base to Türkiye | Ship finance outlook increasingly split between segments, Lunde warns | Wallenius...
US July imports from Asia hit 11-month high, portending year-on-year fall growth The fresh data also showed - starkly - how the West Coast's share of imports from Asia eroded during the 13 months of contentious contract negotiations between the ILWU and waterfront employers.
Shippers reluctant to shoulder high cost of decarbonization: executives Getting shippers to commit to premium-priced, low-emissions shipping services is a hard sell for ocean carriers and forwarders as cargo owners enjoy rates that are now mostly below pre-pandemic levels after two years of record highs.
US shippers riding post-Yellow shockwaves as LTL freight shifts among carriers Some logistics managers report longer transit times and delivery delays, as well as higher costs, as remaining LTL providers divide the freight once hauled by Yellow.
Wallenius Wilhelmsen orders up to 12 ro/ro ships amid market strength The carrier did not disclose the value of the vessel order, but shipbroking sources estimate the price of each ship at $140 million to $150 million, based on their size and multi-fuel capability.
Russia complains to IMO over Ukrainian 'terrorist' attack on tanker Moscow's delegation to UN body complain of sea drone strike just days after Ukraine alleged violations of international law in another incident
StealthGas profit hits record level as debt cut and cash spent on stock Harry Vafias predicts an upturn in LPG carrier markets during the winter
'Guys, get on with it,' MiQ calls on LNG players to get ahead on methane Owners needed to join pilots as regulatory heat turns up and oil and gas producers step up on measurements
Celsius Shipping linked to pile of tanker sales that would spell chemical exit Three smaller vessels reported offloaded, as well as an MR, following spate of deals earlier this year
As Washington celebrates law offering climate dollars, shipping has yet to apply Green Seas podcast explores why Biden Administration's dollars for green energy and decarbonisation are not yet making their way to marine sector
Peter Dohle linked to capesize bulker buy in buoyant big ship S&P market Around 60 capes sold in 2023 to date, Affinity Shipping says
Editor's selection: Black Sea backlog, Maersk Broker deal off? and Laskaridis turns to tankers A look back at TradeWinds' best news and feature articles this week
Shipowner Proman agrees deal with Origin Materials to produce and ship biofuels globally Methanol giant diversifying into another low-carbon fuel market with US partnership
Key Russian Black Sea port of Novorossiysk hit by fire Blaze contained to a cargo area of terminal on Friday
Shipping book shrinks at NIBC as shipowners make high level of early repayments Dutch lender's exposure grows in intermodal, gas and chemicals as credit quality improves
Tufton says trial shows rotor sail can cut fuel use by 10% on kamsarmax Shipowner backing wind power as part of its decarbonisation efforts
Top Ships on the hunt for tankers as it refinances Cargill loan through MR sale Greek shipowner scanning market for opportunities to expand
Landbridge Holdings declares option to buy back SFL's last VLCC Hong Kong owner taking control of modern vessel that has gained $38m in value since delivery
Wallenius Wilhelmsen sells $95m green bond to cut finance costs Car carrier giant says debt issue was significantly over-subscribed
BW Epic Kosan offloads non-core LPG carrier as profit soars Singapore owner continues to increase average vessel size through sale-and-purchase deals
Greece's Evalend Shipping bumps up tanker newbuilding tally at Yangzijiang Shipbuilding Greek company now has six ships on order at the yard
Comment: Time to light a fire under efforts to snuff out car carrier blazes New electric cars are not the only worry, as used vehicle shipping involves the risk of intense fires as well
Torm's Jacob Meldgaard proud of beating peer average of MR rates in 27 of 30 quarters Having Torm employees on ships is a key part of market-leading performance, CEO says
Stolt charters six 'ammonia-ready' chemical tankers from CMB Oslo-listed shipowner boosts its deepsea fleet to 84 chemical tankers with latest additions
SSY broking legend Taro Harada retires after three decades in shipping Industry colleagues wish handy and supramax super-broker a 'well-derseved' retirement
Singapore yard executive charged over allegedly receiving $150,000 in bribes If found guilty, he faces heavy fines and possible jail sentence under Singapore's strict rules on corruption
There's more coal being shipped by sea than ever before The global coal trade is thriving, with dry bulk ships busy carrying the loads. As the West consumes less coal, Asia buys even more.
Cargo-focused airports outpace peers with passenger traffic Smaller airports without big-city crowds offer many advantages to all-cargo airlines and shippers, which are taking more business to those locations.
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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