Red Sea is becoming a no go zone for shipping Supply chain disruptions as a result of Houthi attacks on merchant ships in the Red Sea are only likely to increase. A growing number of ship operators have themselves decided to suspend
CSL to build world's first battery self-unloader Canada's CSL Group has entered a 20-year strategic partnership with Australia's Adelaide Brighton Cement Ltd. (Adbri) to build and operate the world's first fully-electric battery capable self-unloading vessel. The custom-designed battery self-unloader
Moose Boats delivers powerful new fireboat As demand for fireboats continues to build, Vallejo,Calif., based Moose Boats LLC reports that it has delivered the most powerful version of its M2-38 catamaran fireboat thus far built to the Alameda
SAAM Towage's first electric tugs en route to Vancouver In a significant step toward eco-friendly maritime practices, the first electric tugs for SAAM Towage's fleet are set to embark on their journey from the Port of Tuzla in Türkiye to Vancouver in Canada. Having completed their final seaworthiness trials, these cutting-edge vessels are scheduled to board the cargo ship BBC Emerald, a delicate operation necessitating the use of two 400-ton cranes. T
Red Sea crisis: Switch to round-Africa affects required vessel capacity and transit times Sea-Intelligence has noted that this week saw a sharp escalation of the security situation in the Bab-al-Mandeb strait off the coast of Yemen. In its latest report, the Danish analysis firm said that multiple vessels have now been attacked off the Yemeni coast by the Houthis resulting in several major box lines placing their vessels on hold to not pass the Red Sea, rendering the Suez routing unav
APM Terminals unveils US$390 million investment and secures new concession for Brazilian container terminal Brasil Terminal Portuário (BTP) has received approval from Brazil's Ministry of Ports and Airports and the Santos Port Authority to extend its operational tenure at the Port of Santos by an additional 20 years, valid until 2047. In conjunction with this renewed concession, BTP is set to make a significant investment of approximately US$390 million in the development of the container terminal over
Port of Valencia handles 395,000 TEUs in November Port of Valencia moved 395,078 TEUs in November, translating to an 18.72% increase over the same month last year. Valencia container exports reached 73,847 TEUs, while box imports reached 61,283 TEUs with the Spanish port having now achieved three consecutive months of growth. Additionally, the port of Valencia moved 219,238 TEUs via rail in the previous month, representing a slight 1% growth yea
DP World moves head office to Expo City Dubai DP World has announced plans to relocate its global head office to Expo City Dubai. DP World has been based in Jebel Ali, at the heart of its port and free zone operations since it was established under its current name in September 2005. Announcing the plan, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, "DP World's relocation to Expo City Dubai is not an isolated project; i
Stena Line inks 77-year deal with Peel Ports Group In a landmark development, ferry and port operator Stena Line has sealed a substantial agreement with Peel Ports Group, a major UK port operator, solidifying their operational ties at Heysham Port until the year 2100. This extended collaboration underscores the strong partnership between the two organisations and aims to enhance their relationship. Notably, Stena Line operates a crucial twice-dai
PSA BDP opens office in Portugal Global logistics and supply chain solutions provider PSA BDP has announced the opening of its first office in Lisbon, Portugal, aiming to increase its presence in the European market. The decision to establish a presence in Lisbon further expands PSA BDP's global growth strategy. The company said that the strategic expansion into Lisbon presents an opportunity to offer enhanced end-to-end supply
Red Sea crisis: Markets spike, consumers will pay the price Consumers around the world are expected to pay the price for the unfolding crisis in the Red Sea after missile attacks on merchant ships plunged supply chains into chaos. Latest data from shipping analysis firm Xeneta shows spot rates in the ocean freight shipping market spiked by 20% since Friday (15 December) after major shipping liner companies decided to halt sailings through the Red Sea amid
Wärtsilä signs agreement with HMD for new Medium Gas Carrier vessel Technology group Wärtsilä has secured a contract to provide cargo handling and liquefied petroleum gas (LPG) fuel supply systems for a new Medium Gas Carrier (MGC) vessel commissioned by Turkish ship owner Pasco Gas. The agreement, signed by Wärtsi lä and Hyundai Mipo Dockyard (HMD), follows the vessel order, exercised as an option from a prior newbuild contract signed in February 2023. According
ITF condemns Shipping Australia Limited's opposition to national fleet The International Transport Workers' Federation (ITF) condemned Shipping Australia Limited (SAL) for its persistent opposition to the Australian government's proposal to create a strategic fleet of Australian-flagged vessels. "SAL, which represents major international shipping lines - including Evergreen, MSC, K-Line, HMM, CMA CGM, Maersk and Hapag-Lloyd - seems to be more concerned with the prof
DP World wraps up third phase of Antwerp expansion plan DP World has completed the third phase of its US$220 million (€200 million) investment plan, aiming to deliver faster and more environmentally friendly solutions to its customers. DP World has introduced a new stacking crane module at its terminal in Antwerp, Belgium adding to the array of cranes and equipment commissioned this year, including three quay cranes for ship loading and unloading, six
Performance Shipping returns to Shanghai Waigaoqiao for more LR2 tanker newbuilds Nasdaq-listed Greek tanker owner Performance Shipping is expanding its fleet with new contracts at China Shipbuilding Trading and CSSC-affiliated Shanghai Waigaoqiao Shipbuilding (SWS) for the construction of two LNG-ready LR2 aframax product and crude oil carriers. The 114,000 ships, costing around $$64.8m each, should deliver in January and April of 2026. The newbuilds will be ...
Solstad buys back CSV in $4m deal Norwegian offshore vessel owner Solstad has exercised its option to purchase the construction support vessel Normand Tonjer for $4m. The 2010-built unit was sold to a vehicle called Mpsv for $10m in 2021 and leased back on a bareboat agreement for a firm three-year period with options for two one-year extensions and a purchase option ...
Louis Dreyfus lines up juice carrier for suction sails retrofit Wind propulsion continues to gain recognition as one of the key components of shipping's decarbonisation strategy with Rotterdam-based agricultural giant Louis Dreyfus Company selecting its chartered juice carrier for the installation of four suction sails developed by Spanish engineering firm bound4blue. The 2014-built Atlantic Orchard owned by Sweden's Wisby Tankers will be retrofitted with fou
Eyal Ofer's Zodiac Maritime eyes nuclear-powered ships Eyal Ofer's Zodiac Maritime has partnered with classification society Lloyd's Register (LR) and South Korea's HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and KEPCO E&C to develop nuclear-propelled ship designs. As the shipping industry looks more closely at nuclear as a future marine fuel, the joint development project initiated by the signing of a ...
Red Sea impasse remains despite creation of international naval coalition The global shipping industry has welcomed news of a US-led naval coalition to ease tensions in the Red Sea, but is wary that it will take weeks before the area is safe to transit. The US and a coalition of 10 countries, including the UK, France and Canada, have formed a naval security initiative called ...
Beks flips its only newcastlemax Istanbul-based Beks Ship Management and Trading ends the year where it started. Brokers note that the Bekmezci family has flipped its first and only newcastlemax after toying with it for a year, pocketing $1.5m on selling the 206,000 dwt , ex Cape Maple. In the first month of the year, the 2005-built bulker was added for around $15m from Japanese ...
New technology needs nurturing - so does its reputation As the rush to meet shipping's urgent need for decarbonisation technology raises pressure and stakes across the board, this is not the time for cutting corners, writes Ina Reksten, deputy CEO and COO at Yara Marine Technologies. The past few years have witnessed a significant increase in regulatory pressure surrounding emissions, with ambitious targets set ...
Liberia removes all remaining Sovcomflot vessels from flag 'Sovcomflot is not a client that the registry considers appropriate to flag,' says LISCR official as the US Treasury announces...
Price cap coalition tightens rules as US slaps out fresh Russian sanctions The price cap coalition has introduced tighter guidelines for attestation and price reporting, mirroring some of the requirements included in...
Clean Middle East-Europe LR1 rates hit 11-month high on Red Sea disruption Rising risks and insurance rates boost freight rates for product tankers that mostly carry diesel and jet fuel from the...
Performance Shipping orders two further LR2s at SWS Contracts bring the number of tankers on order to three for Nasdaq-listed company at Chinese yard
International Group cuts GXL reinsurance costs for 2024 IG purchases sublimited excess war cover for vessels trading with Russia, Ukraine and Belarus
Norwegian Sea and Canadian Arctic proposed as new ECAs New proposals for sulphur oxide and nitrogen oxide Emission Control Areas will be discussed at the IMO Marine Environment Protection...
Regional Container Lines inks deal for sub-panamax newbuilds Potential order follows firm signing for four 7,000 teu vessels at Shanghai Waigaoqiao Shipbuilding last year
Bulkers diverting from Suez may need a Plan C Prolonged disruption in the Suez Canal will help bulkers, but it is hard to say by how much
Red Sea war risk rates 'still rising' after doubling in past week Development comes after Joint War Committee expands listed area in key waterway
New EU sanctions will increase burden for shipping, but will not stop circumvention The EU's 12th package of sanctions targeting Russia seeks to tighten oil price compliance and increase transparency. It is unlikely...
Europe-Asia boxships in Red Sea start returning to Suez Canal The 18,200 teu Mary Maersk and the 13,200 teu Cosco Faith have both reached the southern approaches of the Suez...
LNG shipping could gain momentum as carriers divert from Red Sea, says Drewry Four LNG carriers appear to have rerouted to avoid sailing through the Bab el Mandeb Strait, while others continue to...
Malaysia bans calls by Israel-owned or flagged ships to support Palestinians Restrictions to take effect immediately
Carl-Antoine Saverys to take the reins at Exmar Exmar announces chief executive transition with Carl-Antoine Saverys succeeding Francis Mottie, who will remain as COO. The generational shift comes...
Daily Briefing Asia/Europe boxships remain in Red Sea limbo | Business as usual for tanker trades as most operators continue on Red...
New CMA CGM service is sixth to add Port Everglades call this year The service will be heavily focused on transporting refrigerated cargo but will also allow for dry cargoes coming out of Latin America to find a new path to the US.
FedEx Freight keeping LTL gains from Yellow as market settles While the largest US trucking company increased its daily volume 4.6% this fall following Yellow's summertime collapse, year-over-year comparisons reveal a soft market.
NY-NJ port takes next steps to study dredging amid larger ship calls The port wants to dig to a 55-foot depth because an increasing number of vessels calling are testing the current capacity of its shipping channels.
Carriers push Indian rates higher as Suez crisis muddles US, Europe routings After holding rates firm at end-November levels into the first week of December, major container lines have pushed short-term contract pricing substantially higher for Indian bookings in the last few days.
Norway says Red Sea traffic 'should be avoided' as Hoegh Autoliners heeds call Alert level bans Norwegian-flag ships from calling at ports in parts of region
US ratchets up price cap pressure by blacklisting Sovcomflot ship manager and raft of traders Move follows similar sanctions by the UK and EU against Russian shipowner's Sun Ship Management
Sovcomflot linked to sale of former Primorsk MR tanker for handy profit Sanctioned Russian owner said by brokers to have offloaded vessel ahead of special survey
Green Seas: Passenger vessels have more work to do to get on Poseidon Principles carbon track TradeWinds' newsletter on the environment and the business of the ocean explores annual climate reporting by shipping banks
Performance Shipping expands tanker orderbook with Chinese LR2 pair US-listed tanker player says the move forms part of its 'core fleet expansion and renewal strategy'
'Great potential': Zodiac throws weight behind nuclear power for shipping Eyal Ofer-controlled owner exploring options for bulker and container ship propulsion
'We are not afraid of war' says Al-Houthi as rebels defy Red Sea naval operation 'We are not the kind of people who are afraid of war', Houthi leader says in TV address
War risk rates continue to harden as attacks escalate Red Sea high risk area widens in response to Houthi attacks
International Group reinsurance rates cut as claims stay low Shipowners will pay less for their P&I reinsurance with passenger ships seeing a double-digit decrease
Lomar recruits former V.Group commercial director Peter Mellis to develop its business London-based shipowner wants to focus on new investments
Solstad Offshore exercises option on CSV after 2021 sale and leaseback deal Ship will stay with Solstad even after plotted refinancing deal
Hafnia speeds up $23m share award to CEO Skov in deal with BW Group Singapore owner borrowing stock from parent to bring forward incentive plan's vesting date
Suez Canal LNG carrier transits forecast to drop by 18% in December Shipbroker Affinity LNG says US-Asia cargoes most impacted as these already hit by Panama Canal restrictions
Hoegh Autoliners signs biofuel partnership with Varo Energy Car carrier operator says more automobile OEMs opting for biofuel solutions
Adnoc buys OCI out of green ammonia venture Fertigobe in $3.6bn deal Abu Dhabi oil company takes majority control of sustainability pioneer
Ocean Yield brings in lawyer Rebecca Lund Nakkim after CEO and CFO leave board KKR-owned sale and leaseback company will now operate with three directors
Advantage Tankers splashes out on LR1 newbuildings Tanker player orders pair of 73,400-dwt product carriers at K Shipbuilding
Liberia de-flags seven tankers blacklisted by US 'You're sanctioned, you're cancelled,' says the head of the country's registry
BP head of trading and shipping Carol Howle makes major's CEO shortlist UK energy giant considering two women but will it break the mould and appoint a first female chief?
Pelagic Partners builds stake in Oaktree-backed Golden Energy Offshore Cypriot fund splashes another $770,000 on platform vessel owner's stock
Advantage Tankers splashes out on LR1 tanker newbuildings Tanker player orders pair of 73,400-dwt product carriers at K Shipbuilding
Norwegian newcomer heads to China for first PSV order in a decade Hercules Supply named as owner behind landmark deal for up to three versatile ships
Malaysia bans calls by all ships owned by or heading to Israel Government says measure is a response to country's conduct in Gaza war
Tanker owners still willing to use Suez Canal, says Braemar Shipbroker says it is still fixing cargoes via the waterway without Cape of Good Hope options
UK detains Hoegh car carrier over failed PSC inspection Inspectors find issue with ISM as well as maintenance of survival craft onboard Norwegian-flagged vessel
Port of New Orleans nets $73M federal grant for container terminal The Port of New Orleans is receiving a $73.77 million federal grant to assist in building the $1.8 billion Louisiana International Terminal.
Transport Canada contributes $14M to Winnipeg airport cargo expansion The Winnipeg Airport Authority is ready to begin the next phase of its cargo expansion and modernization project with an investment from the Canadian government.
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