BV takes stake in NYC based OrbitMI Bureau Veritas (BV) has announced a strategic investment in OrbitMI, a New York City based maritime software company named as one of 2023's most innovative companies in maritime in a recent report
Crowley inks MOU on nuclear power generation ship Crowley is teaming with the company that builds the reactors for the U.S. Navy's nuclear ships, BWX Technologies, Inc. (NYSE: BWXT), on a concept nuclear power generation ship with the potential to
FERNRIDE raises US$50 million to scale autonomous yard trucking Germany-based autonomous trucking company FERNRIDE has closed a further US$19 million in its Series A funding, pushing the total round amount to US$50 million. Therefore, the firm aims to strengthen its focus on advancing the transition towards automated and sustainable logistics. According to FERNRIDE, driven by high investor interest, the second closing comes just weeks after FERNRIDE's initial
Ports of Singapore and Rotterdam join forces to cut shipping emissions The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam Authority (PoR), and 20 partners in the Green & Digital Shipping Corridor are collaborating to cut international shipping emissions by 20%-30% until 2030. The agreement was made in the third Green Corridor workshop, which was held in Rotterdam, the Netherlands this week. The Green & Digital Shipping Corridor was formed in A
Wan Hai puts 2,500 TEU boxship up for second hand vessel sale Taiwanese ocean carrier Wan Hai has announced that its 2,500 TEU container ship Wan Hai 302 is for second hand vessel sale. Wan Hai stated, "The interested bidder submit your offer for 2nd hand Sale and shall be deemed to be fully aware of, accepting and complying with the contents of this announcement and the measures for the implementation of the bidding." "After a comprehensive evaluation, the
Change in US consumer behaviour hampers Transpacific trade As the traditional peak season of the shipping sector comes to an end, the spot rate declines over the past two weeks are a very clear indicator that the peak season did not really materialise, according to the recent Sea-Intelligence report. Further to that, the Danish maritime data analysis company noted that there are "dark clouds looming over the horizon" for the Transpacific trade, in part l
MacGregor receives multi-million order for general cargo cranes MacGregor, part of Cargotec, has received a significant, more than €25 million (almost US$27 million) order for general cargo cranes for ten 84,500 dwt multipurpose vessels built in Asia. According to MacGregor, the order was booked into Cargotec's 2023 third quarter orders received, while the equipment is expected to be delivered between the fourth quarter of 2024 and the first quarter of 2026.
New Central Asia ocean-rail connect via APM Terminals Poti APM Terminals Poti in Georgia aims to offer an intermodal gateway for an end-to-end transport solution connecting global producers to Central Asian markets. In particular, a new ocean-rail route, launched by Maersk, promises to overcome the complexities of multiple modal changes between rail and sea in the region. Cargo arriving by ocean at APM Terminals Poti will be seamlessly transported via ra
Eyebrows raised at China's state-owned players' increased stakes in European ports Chinese companies hold investments in some 31 container seaport terminals in Europe and the Mediterranean as of end-August, reflecting the increased activity by China's state players in Europe's port network since 2016, according to Alphaliner's report today (20 September). With the addition of HHLA's Tollerort terminal, COSCO Shipping Ports (CSP) now holds shares in eleven terminals in seven Eur
Celtic Freeport seeks for CEO The Celtic Freeport announced that it is seeking for first permanent chief executive to take the lead in bringing this vital project to completion. In particular, the Celtic Freeport aims to unlock the widest possible opportunities for Wales by accelerating innovation and encouraging significant investment, while fast-tracking modern skills for new green industries and national decarbonisation. C
Bosch equips Port of Paracas with AI-based detection cameras MIC IP ultra 7100i cameras were placed by Bosch on approximately 10 40 metres high masts to meet the high-security requirements at Port of Paracas in Peru. The port operators were reportedly looking for a video security solution to ensure reliable, high-resolution surveillance of a 110.000 m² area. More specifically, these cameras offer 4k UHD resolution wind resistant up to 290 km/h, 12x zoom an
TX Logistik sees increased demand in waste transport by rail So far in 2023, TX Logistik, a private railway company, has seen significant demand for international waste shipping via rail. The railway logistics firm, which is part of Mercitalia Logistics (Gruppo FS Italiane), expects transfers to triple to up to 850 trains per year. TX Logistik has been successful in transferring many waste shipments from road to rail, notably in the European north-south co
Hafnia bags $303m sustainable loan backed by nine ships Product tanker unit of Singapore's BW Group, Hafnia, has secured sustainability-linked financing maturing in early 2029. The Oslo-listed shipowner said the revolving loan facility is worth $303m through a syndicate of eight banks, which included BNP Paribas, Citibank, Danske Bank, DBS Bank, IYO Bank, Nordea Bank, Oversea-Chinese Banking Corporation, and Standard Chartered Bank. BNP Paribas ...
Castor Maritime spinoff Toro nets nearly $27m from double tanker sale Nasdaq-listed tanker and LPG owner Toro has offloaded two ships for an aggregate price of $49.5m and a net gain of nearly $27m. The spinoff of Cyprus-based Castor Maritime has sold the 2006-built handysize MR tanker for $18m and the 2005-built aframax for $31.5m to two different unaffiliated third parties. The Petros Panagiotidis-led firm said ...
Crowley floats plan for nuclear power plant vessel US-based maritime, logistics and energy solutions company Crowley has teamed with fellow nuclear components supplier and developer BWX Technologies for a shallow-draft hull ship concept that will supply small-scale nuclear energy to shoreside locations. Under a memorandum of understanding, both companies will jointly pursue and develop opportunities relative to the design, engineering and develop
Jinhui Shipping ships out veteran supramax for $8m Chinese bulker operator Jinhui Shipping and Transportation has sold its 2004-built supramax to Singapore's ETL Shipping. The Oslo- and Hong Kong-listed company is offloading the 52,700 dwt ship, VesselsValue estimates as worth $10.25m for around $8.1m. The Oshima-built vessel, which Jinhui purchased for $10.8m as Tai Hawk in 2021, will change hands between October 25 ...
Bureau Veritas invests in OrbitMI to push shipping decarbonisation French class society Bureau Veritas (BV) has become an investor in US-based maritime software company OrbitMI. The collaboration will leverage combined strengths to address the dual opportunities of the digital transformation and the decarbonisation of shipping. Neither firm disclosed the size of the investment but reports have emerged that BV will receive a seat on ...
Suspected mine blast rocks cargo ship near Romanian Black Sea port Crew onboard Togo-flagged general cargo ship were evacuated Monday morning following an explosion near the Black Sea port of Sulina in Romania, close to the northern border with Ukraine. Maritime security consultancy Ambrey said the 1981-build vessel had possibly struck a sea mine while drifting 10nm east of Sulina. The vessel reported an explosion at ...
Saverys fails in Exmar buyout bid Nicolas Saverys has failed in his second bid to take over Belgian gas shipowner and infrastructure provider Exmar. After falling short in its first bid, Savery's investment vehicle Saverex reopened its offer of €11.1 per Exmar share on August 28. The offer expired on September 15, resulting in Saverys controlling 49.8m shares, or 83.76% of ...
White paper calls for urgent changes to charter parties to meet MEPC 80 goals Shipping is still digesting the enormity of the agreed new green targets from this July's gathering of the Marine Environment Protection Committee (MEPC) meeting at the International Maritime Organization at which it was agreed there will be indicative checkpoints to reach net-zero greenhouse gas emissions from international shipping of 20% striving for 30% by 2030, ...
Foresea wins new drillship contract with Petrobras Brazilian drilling contractor Foresea has confirmed the award from Petrobras for one of its drillships. The company created in June this year from the restructuring of Ocyan's drilling unit has fixed its 2011-built floater Norbe VIII to the state-controlled oil giant for three years. The rig is currently on hire with Petrobras, and the new ...
Biden action plan to boost offshore wind and grid resilience The U.S. Departments of the Interior and Energy have released an action plan which aims to expand offshore wind infrastructure in the Atlantic region. Action Plan for Offshore Wind Transmission Development in the U.S. Atlantic Region, developed by the Bureau of Ocean Energy Management and the Energy Department's Grid Deployment Office, outlines immediate actions needed ...
Industry-wide cooperation and knowledge sharing vital on path to net zero: IUMI Global ocean hull premiums rose in 2022 by 5.7% to reach $8.4bn, delegates attending this week's annual gathering of the International Union of Marine Insurance (IUMI) were told. This was largely due to a combination of growing activity, increased vessel values and reduced market capacity. Claims for the same period remained moderate although early 2023 ...
China's European port interests mapped Chinese container port interests in Europe have been making plenty of headlines in recent years. Putting their total presence across the continent into perspective analysts at Alphaliner have produced a map (see above) which shows that with the exception of the Adriatic Chinese companies now have port facilities in every corner of the continent. Chinese ...
2,500 people take to the streets of Hamburg to protest MSC's port plans As many as 2,500 people took to the streets in Hamburg yesterday evening in a protest organised by a local union against the 49.9% sale of the city's top port operator, Hamburger Hafen und Logistik (HHLA), to Swiss-based Mediterranean Shipping Co (MSC). Flares were thrown and there was a strong police presence as the demonstration ...
MOL signs up for methanol-powered ultramax bulker Japan's Mitsui OSK Lines (MOL) is to take on a methanol dual-fuel ultramax bulk carrier in a charter deal with compatriot Kambara Kisen, the shipping arm of the Tsuneishi Group. The 65,700 dwt ship will be built at Tsuneishi Shipbuilding and delivered in 2027 on a charter to MOL Drybulk. MOL, which targets having 90 ...
Abu Dhabi firms explore ammonia shipping Fertiglobe, the partnership between ADNOC and OCI Global, the world's largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertiliser producer in the Middle East and North Africa (MENA) region, and an early mover in sustainable ammonia, has signed a non-binding memorandum of understanding (MoU) with AD Ports Group to explore logistics and ...
Backers of Singapore - Rotterdam green corridor vow to slash emissions by up to 30% by 2030 The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam and 20 partners in the Green & Digital Shipping Corridor are working to reduce 20% to 30% of emissions from international shipping by 2030. This was agreed at the third Green Corridor workshop, held this week in Rotterdam. The Green & Digital Shipping ...
Ship Concept 2030: Identifying what tomorrow's newbuilds will look like Ship Concept 2030 is the latest magazine out of the Splash Special Reports stable, a publication designed to give readers a glimpse of what is realistic for newbuilds coming out of yards seven years from now taking into account regulations, fuels, information technology, seafaring skills, shipyards and charterers - a unique magazine with the big ...
ESPO warns ships are already dodging EU ETS European Sea Ports Organisation said ships are already rerouting to ports outside the bloc to avoid paying the EU Emissions...
Marine insurance talks with Ukraine falter as two ships test alternative Black Sea grains corridor International Union of Marine Insurance says 'grey areas' surround Ukraine government proposal to reinsure marine risk
BV invests to bring OrbitMI into the fold OrbitMI chief executive Ali Riaz said Bureau Veritas recognised the importance of intelligent connected workflows, and was committed to developing...
EU ETS could spur disruptive reciprocal measures IMO climate head warns of potential disruption for shipping in response to the EU ETS, adding that he looked forward...
Green ships will be available but what about the fuels?, asks Habben Jansen Liner boss told European summit that while customers may support decarbonisation, most are still in denial there will be a...
Latsco places first-ever bulker order in Japan Tanker and gas carrier owner made first bulker play in 2016 with secondhand supramaxes
MSC resumes boxship buying spree MSC is said to have purchased the 9,400 teu Joseph Schulte, which had been trapped in Ukraine for over a year...
Possible sea mine blast on Black Sea ship off Romania One crew member was injured and another 11 rescued after a possible sea mine blast on the general cargoship Seama...
Global carbon tax impossible, Barroso says José Manuel Barroso warned European policymakers about protectionism in his keynote speech to the European Shipping Summit, while suggesting that...
Rotterdam-Singapore green corridor aims to cut emissions by up to 30% by 2030 MPA, Port of Rotterdam and 20 other partners in the green and digital shipping corridor will work together to cut...
Autonomous shipping revolution will slash P&I claims and payouts, IUMI told The coming MASS revolution has huge implications for marine insurance, with fewer people on ships meaning fewer 'people claims', delegates...
MOL ties up methanol-powered bulker to cut emissions Japanese shipping giant intends to charter the 65,700 dwt dual-fuel ship ultramax bulker from domestic owner Kambara Kisen. The vessel...
Shipping is central to EU security insists commission vice-president Schinas European shipowners looking for political recognition of the maritime sector's strategic economic status have been backed by the European Commission...
Daily Briefing Questions raised over UK government claims Odesa-docked ship was Russia target | CMA CGM teams up with Maersk to scale...
More trans-Pac service cuts on tap for October as carriers seek to buoy rates The decision to suspend a service outright may represent a new leg down in terms of ship capacity, which is expected to grow sharply this year and next.
Norfolk Southern teams with tech company to ease intermodal cargo flow The Class I railroad and DrayNow will launch an app in 2024 designed to digitize, organize and streamline processes that have previously been performed via email or over the phone.
Asia-North Europe blank sailings to soar in October amid capacity overhang Ocean carriers on the busy trade lane plan to slash deployed capacity to match falling demand levels that typically follow China's Golden Week holiday at the start of October.
Intermarine, JSA target Chilean metals, energy markets with new subsidiary Affiliated carriers Intermarine and Jumbo-SAL-Alliance are poised to reap new cargo from the expected growth boom in South American mining, green fuels and wind.
Panama Canal draft restrictions offer sustained challenge for carriers Carrier executives and others say the draft limitations imposed due to a shortage of rainfall are creating a more difficult economic rationale for the so-called all-water route to the East Coast of North America.
South Korean private equity firm poised to take over Polaris Shipping HMM and KOBC participating in the acquisition of the VLOC company as financial investors
Futures market for capesize bulkers falls while spot rates rally on November contracts lost almost $1,000 per day on Wednesday
Concept unveiled to build floating nuclear plants to meet military needs Crowley and BWX Technologies also envision vessels with microreactors responding to disasters
Baltic Dry Index climbs to four-month high as bulkers ride 'robust upward trend' China stimulus measures add to optimism as Panama Canal buoys handysizes
UK tightens laws to punish fraudulent shipping British laws had failed to keep up with international agreements leaving enforcers toothless
Blank sailings expected to reach 16% as Golden Week hurts container demand Freightos Baltic Index falls almost 20% since late August
No shortage of offshore bravado at Pareto Securities show Secondhand market weirdness and surging day rates have owners and observers excited
'Nothing as contagious as protectionism': warns Emanuele Grimaldi as EU probes China's car exports Major car carrier owner rails against the rise of protectionism amid rising geopolitical tensions
Lines struggle to stop the rot as container freight rates hit four-year-low Spot rates hit their lowest since October 2019 as supply-and-demand outlook worsens
Ports on EU's edge poised to pounce on bloc's business, warns Malta As the EU's emissions trading scheme is about to include shipping, container ports at the bloc's periphery get ready to take advantage
Jinhui Shipping sells oldest bulker as renewal push goes on Hong Kong company takes book loss on 2021 purchase, but vessel made a trading profit in that time
Green Seas: The era of methanol-fuelled container shipping begins This week's edition of TradeWinds' newsletter on the environment and the business of the ocean explores what the Laura Maersk means for box shipping
Tonnage-hungry Subsea 7 could set its sights on Solstad Offshore, analyst says Pareto's Joren Sovik Opheim cites fleet similarities in hypothetical takeover
Methanol ships make up third of alternative-fuel orders this year, Clarksons says UK research company says LNG is still the most popular fuel choice for new eco vessels
Nobody beats competition by going green on their own, says Hapag-Lloyd boss Rolf Habben Jansen Shipping should work together to achieve decarbonisation, argues liner company chief exec
Mozambique cleared to sue shipbuilder Privinvest in $2bn corruption case Shipbuilder says it provided valuable services to African nation which sabotaged the coastal project
'I always want more ships,' says TMI's new operations chief Carl Ackerley But newbuildings still too expensive for now, bulker executive explains
TMI's Ed Buttery compares handysize scrapping to a fairground coin-pusher machine Tipping point is approaching for elderly ships, and this is good news for rates
Gail (India) heralds first LNG cargo STS in move to optimise its shipping Indian importer is keen to repeat exercise to save cash, shipping time and CO2 emissions
Union Maritime doubles down on LR2 tanker newbuildings An earlier order for ultramax bulkers order at New Dayang appears to have been dropped
Sea mine suspected as explosion hits Ukraine-bound cargo ship off Romania Mine sweeper deployed to investigate incident involving the Seama
Seatrium loses $32m legal battle against HJ Shipbuilding over defects on accommodation rig Newly merged Singapore yard's legacy legal case tossed out due to wording of clause in sub-contract amendment
High tanker asset prices worry BW Group's Andreas Sohmen-Pao Tycoon thinks decarbonisation will be tough and contemplates move to US
Nicolas Saverys's second Exmar take-private bid fails as shareholders cling on to stock Exmar set to stay on stockmarket as take private vehicle Saverex shareholding falls short
Malcolm Godfrey quits insurance broker Gallagher to join rival Cambiaso Risso Genoa-based broker is continuing to grow its business with new hires
Hafnia clinches $303m sustainable loan secured by nine chemical tankers New revolving facility will mature in 2029, BW Group owner says
Nicolas Saverys's second take-private bid fails as shareholders cling on to stock Exmar set to stay on stockmarket as take private vehicle Saverex shareholding falls short
Nicolas Saverys opts to relaunch take-private bid as shareholders cling on to stock Pricing of third offering to be announced on 2 October
Kambara Kisen orders methanol ultramax bulker for charter to MOL Japanese group will fix out dual-fuel ship from delivery in 2027
Seaspan and Maersk Zero Carbon Center unveil huge ammonia container ship project Work has been taking place on developing a 15,000-teu design for potential commercialisation
European shipowners seek to boost their status in Brussels with show of unity Feeling insufficiently appreciated by the Brussels policymaking scene, the continent's shipping lobby holds its debut event to raise its profile
Trafigura creates new management committee as one of 'big three' bosses quits CEO Jeremy Weir and executive director Jose Larocca to lead new top team
'No skeletons': TMI's Ed Buttery and Carl Ackerley press on with Grindrod integration Bulker owners' balance sheets remain separate, but other functions are already working as one, bosses explain
Cocaine 'tsunami' hits container supply chain as industry struggles for answers Maritime drug flows are rising both in volume and violence. The 'Operation Tin Can' drug bust shows how they can be stemmed
Bureau Veritas invests in OrbitMI as strategic partnership targets shipping's carbon emissions Stena Bulk-backed software firm teams up with 195-year-old classification society
Denmark's DFDS acquires Spain to Morocco ferry company Ferry company says acquisition will help it benefit from ongoing nearshoring of supply chains to Europe
Mariner Associates and Carlos A Gothong recycle bulker and car carrier in Bangladesh But cash buyer GMS cautions that Chattogram's recyclers cannot compete on price for now
Singapore-Rotterdam green corridor aims for 30% GHG emission cuts by 2030 Partners identify action steps for the various fuel pathways and will look at ways to incentivise uptake of alternative fuels
Air Belgium abandons direct passenger service to focus on cargo Air Belgium says it never recovered from lost business during the COVID pandemic, in contrast to most passenger carriers. It says it can't make money selling tickets to consumers and will focus on doing business with other airlines.
Narita Airport to build centralized cargo facility for All Nippon Airways All Nippon Airways will soon function in one place at Narita Airport instead of at decentralized cargo warehouses.
DSV tailors chartered freighter network to shifting market conditions DSV is a logistics company, not an airline, but it is strategically adding freighters it controls through long-term leases based on demand in certain lanes.
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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