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FEBRUARY 23, 2023

Sarbananda Sonowal & Eknath Shinde discuss expediting Sagarmala projects in Maharashtra Double digit growth in exports seen as commendable amidst challenging global trade environment YOU ASK.. WE ANSWER... Special Drive for finalization of pending Provisional Assessment Traxens' new smart container solution supports the transition to methanol-powered vessels DP World inks agreement to help digitalise trade across the Greater Caspian Region & parts of Africa US-based 3PL firm XPDEL announces expansion plans for the Indian market in 2023 India seen contributing 15 pc to global growth in 2023: IMF More rupee trade pacts likely MOL & Air Water begin joint study on use of liquefied bio-methane as marine fuel Charges withdrawn for vessels using open loop scrubbers at 3 ports A step towards globalisation of India's digital payment infrastructure Oilmeals export up 70 pc

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FEBRUARY 23, 2023

India - the promised land? New European hub at German-Austrian border Takeover extends intermodal fleet Another digital step for Qatar Airways Cargo 500th Evolution for Indian Railways Transnatur and Transway's second service IMO launches study on future fuels Fedex Express picks Maribeth Espinosa Aero Africa welcomes Samuel Geevarghese Accumulating Iata Ceiv Pharma certifications Ethanol on the river Dronamics: USD 40 million in pre-Series A funding CPG under Florida's sun "Curiosity of the Day" Trucks blocked on Inntal motorway CargoAi launches Cargowallet CHI Group promotes Dominik Misskampf Expanding to Greece, Cyprus and Korea

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FEBRUARY 22, 2023

New cargo airline for South Africa will fill a wide gap in the market Newbuild ULCV armada will bring challenges for carriers Fireside chat with Richard White - the WTC empire grows ever stronger Forwarders say US government financial support is a must for air cargo Feeder vessel fetches 'bullish' price as cash buyers bet on scrapping boom Carriers step on the safety Accelerator to address cargo risks DSV wins - boom and bust with (sharp-eyed) Expeditors Shipper radar: Walmart out of the woods? SA: ZIM - should you follow the JP Morgan bulls?

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FEBRUARY 22, 2023

Interior proposes first-ever GoM offshore wind lease sale Following up on an announcement made back in October last year, the U.S. Department of the Interior today issued a notice proposing the first-ever U.S. Gulf of Mexico offshore wind lease sale. VIDEO: Ulstein completes SOV to CSOV conversion Bernhard Schulte Shipmanagement (BSM) and the Ulstein Verft shipyard in Norway have just completed an SOV to CSOV conversion that could answer some questions for those of us who are still hazy Congressman pushes for moratorium on offshore wind A New Jersey congressman who is no fan of what he calls "windmills" has been named Vice Chairman of the House Transportation and Infrastructure Committee and has made it clear that he ABS verifies game changing non-flammable Blue G battery technology ABS has issued New Technology Qualification (NTQ) for a groundbreaking, non-flammable battery technology for use at sea. Called Blue G, the state-of-the-art vanadium redox flow battery system from Singapore's Gennal Engineering Pte

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FEBRUARY 22, 2023

Montreal Port Authority collaborates with maritime intelligence firm Global Spatial Technology Solutions (GSTS), a maritime intelligence company, announced the collaboration with the Montreal Port Authority (MPA) in order to provide a Green Shipping Corridor capability using the OCIANATM platform. OCIANATM is an artificial intelligence (AI) platform that provides maritime vessel and port optimisation and maritime risk management solutions for the global maritime m Small propeller defects lead to increased noise pollution, shows new research The slightest deviation in the machining, polishing, and finishing of ships' propeller blades could result in underwater radiated noise and cavitation, even if defects are within the maximum tolerance allowed by classification societies and the ISO 484-1 standard, according to a new research. A Canada Transport-funded study on the impact of manufacturing tolerances on propeller performance - carr Port of Montreal to invest over US$245 million in infrastructure projects The Port of Montreal has decided to spend over US$245 million (CA$335 million) in its new five-year investment strategy for infrastructure on Montreal Island. These investments are required to solidify the Port of Montreal's position as a key St. Lawrence route trade base, to support the energy transformation, and to promote peaceful coexistence with the neighbouring community, according to a sta APM Terminals invests in Peruvian terminal infrastructure APM Terminals Callao, operator of the largest multipurpose terminal in Peru, has received a new electric panamax ship-to-shore crane and two e-rubber tyred gantry (RTG) cranes. Maersk-owned port operator has made a US$25 million investment to enhance the terminal's container operations. The terminal currently has five super post panamax cranes, two panamax cranes, and 15 eRTGs in operation. With HMM joins United Nations Global Compact South Korea's major container carrier HMM announced earlier in February that it has joined the United Nations Global Compact (UNGC), as an official member. UNGC is a global corporate sustainability initiative that encourages companies to align operations with universal human rights, labour, environment and anti-corruption principles. "We commit to upholding the ten principles for a sustainable fu WiseTech reports strong financial figures WiseTech has achieved strong growth in its financial results for the period July-December 2022, which is the first half of the company's financial year 2023. In particular, WiseTech increased its total revenue by 35%, compared with the same period last year, reaching US$258 million. In addition, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 36% to OOCL, Canada Maritime order new boxships for Montreal Gateway trade Canada Maritime and Orient Overseas Container Line (OOCL) agreed to commission new tonnage to be built simultaneously for deployment in the trade between North Europe and North America via Montreal, Canada. The two shipping lines, which are long-term partners in the St Lawrence Co-ordinated Service (SLCS), have contracted with Daewoo Shipbuilding and Heavy Machinery of South Korea to construct th IBS Software completes takeover of Accenture Freight and Logistics Software IBS Software, a Software as a service (SaaS) solutions provider to the travel industry, has completed the acquisition of Accenture Freight and Logistics Software (AFLS), which provides technology platforms to help airline and ocean transportation companies manage their freight operations. IBS Software believes this move will strengthen its position as a technology provider to the air freight indu

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FEBRUARY 22, 2023

BW Epic Kosan sheds older vessels as it takes newbuild on charter Singapore-based BW Epic Kosan is maintaining its focus on larger and younger tonnage, with older and smaller ships heading out the door. The Oslo-listed company revealed the sale of two "older vessels", closing the past quarter with 69 ships. Subsequently, two similar ships were also offloaded in anticipation of the delivery of a larger newbuild ... DOF scores vessel contract in Brazil Norway's DOF has announced a new contract for DOF Subsea Brasil for the charter of the research and survey vessel . The contract will see the 2006-built vessel equipped with a remotely operated vehicle (ROV) for support of a large SURF project in Brazil. Mobilisation is planned to start in March 2023 for 180 days ... StealthGas reveals multiple charter deals US-listed Greek owner StealthGas has revealed fixtures for eight LPG carriers on period charter contracts, with another two concluded on the joint venture vessels. The chartering arrangements with undisclosed clients last between three months and three years. Four LPG carriers, Eco Freeze, Eco Dominator, Eco Nemesis, and Eco Dream, have been fixed for one year. ... Valaris reveals multiple deals New York-listed offshore driller Valaris has secured several new jackup contracts and an extension for one of its floaters. In Nigeria, Shell exercised its option for drillship Valaris DS-10 to keep the rig through March 2024 at $231,000 per day. Meanwhile, an undisclosed operator offshore Trinidad contracted the jackup Valaris 249 for one year, commencing ... Demo 'floodgates' ready to open The ageing global fleet and renewal pressure look set to propel many more ships onto their final voyages this year and next with one cash buyer telling Splash Extra demolition volumes could nearly double year-on-year in 2023. This year has already seen the volume of containerships heading for recycling make plenty of headlines, however other ... Spanish authorities on alert as ship-to-ship transfers soar nearby Spanish authorities detained and charged a Turkish product tanker for allegedly discharging oil in open waters of the Mediterranean near Tarragona port. The Maltese-flagged ship owned by Besiktas Likid Tasimacilik was intercepted after a reported discharge that extended over an area of 12.7 sq km was detected earlier this month. The owners of the 2009-built ... Frontline offloads VLCC to Yinson While all eyes have been on Frontline's merger saga with Euronav, John Frederiksen's has been doing what he does best, buying and selling ships, and making fortunes in S&P. Sources tell Splash that the 321,000 dwt , built in 2009, has been sold to Yinson and is now called Eminence. The Daewoo-built tanker is estimated ... Pressure grows to reclassify plastic pellets as hazardous substances Pressure is growing on International Maritime Organization (IMO) member states to to classify plastic pellets as hazardous substances. Just weeks after the French government promised legal action in response to a mass of plastic pellets washing up on its beaches, another spill has impacted beachgoers in Dubai. On Sunday, thousands of plastic pellets - or ... Al Seer JV in for more South Korean LPG carriers ABGC DMCC, a joint venture firm of fast-expanding Al Seer Marine and BGN International, has booked a pair of liquefied petroleum gas (LPG) carriers at South Korea's Hyundai Samho Heavy Industries. Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company of Hyundai Samho, revealed the order in a regulatory filing on Wednesday. The ships ... UK hydrogen project moves ahead A consortium led by zero-emission vessel provider ACUA Ocean in partnership with zero-emission infrastructure provider Unitrove has won a £3.8m ($4.6m) UK government grant. The Hydrogen Innovation - Future Infrastructure & Vessel Evaluation and Demonstration (HI-FIVED) consortium will receive funding to build and showcase an autonomous vessel and bunkering infrastructure technologies for liquid h MOL redefines poop deck in alternative fuel search Cattle manure. Mitsui OSK Lines' (MOL) exhaustive search for alternative fuels has now gone to the farm. Japan's largest shipowner has signed a memorandum of understanding with compatriot firm Air Water to jointly study the trial use of liquefied bio-methane (LBM) derived from cattle manure in LNG-fuelled vessels. Other shipping lines, notably CMA CGM, are ... Top carriers join forces to investigate scourge of fires at sea Some of the world's biggest carriers are joining forces with the world's first industrial safety technology accelerator to launch a new innovation initiative to reduce cargo loss at sea. Evergreen Line, HMM, Maersk, the Offen Group, Ocean Network Express (ONE), Seaspan as well as Lloyd's Register will work with Safetytech Accelerator to find and advance ... Demo volumes bounce back Ships sent for demolition are rising, and are tipped to increase further throughout 2023 and 2024, but the cash-rich position of shipowners is expected to keep scrapping rates significantly below record volumes experienced in the wake of the global financial crisis. Measured in gross tonnes, last year witnessed the lowest scrapping total for 15 years, ... The future fuel race is over for this decade The problem with writing editorials is that they can come to look extremely misplaced predictions rather quickly. Not that that has ever stopped me before, so here goes! I am calling the future fuel race over for this decade - methanol is the - again I am wary of writing the next word for how ... February 2023 Review Europe imposed a ban on February 5 on Russian diesel fuel and other refined oil products, two months after a similar crude oil ban began. Product tanker rates leaped in the following days. A deadly earthquake ripped through Turkey and Syria killing tens of thousands of people. Amidst the carnage, Turkey's Iskenderun Limak Terminal was ... Volatility reigns supreme in the tanker markets Global energy markets have overcome the disruption caused by the EU and US bans on imports of crude oil and oil products from Russia, which instead is exporting barrels to China and India at a tidy discount. Refiners in those countries then export oil products made from Russian fuel oil and crude oil, at tasty ... Capes plumb extreme depths Please, just make it stop, is the refrain from owners and their brokers as the capesize market plumbs depths that usually require a bathysphere. Activity is muted as February draws on; the anticipated return of Chinese iron ore buyers to the markets has expired unfulfilled. As Arrow wrote on February 17, "thus the question is ... Containers becalmed Earlier this month Ocean Network Express (ONE) reported its net profit for Q4 2022 was down 43% year-on-year to $2.77 bn and forecast that this year's result would be down 4% at $14.73 bn. The president of Nippon Yusen Kaisha (NYK), lead ONE shareholder, Hitoshi Nagasawa says that ONE faces "a tidal wave in its ... Analyst Abstract Tankers VLCCs being deployed in record numbers on the transatlantic plus China's growing demand for crude are getting many excited about prospects for VLCCs in the coming months. In February, there has been a clear turn of fortunes for supertankers, with rates in the ascendant. The question now is whether they can kick on. "VLCCs ... Discerning bulker owners contrast with rusty tanker sales In dry bulk it has been a quiet month for S&P. However, brokers argue this is a result of there being few sellers rather than lack of buying appetite, with many big names in the industry confident of a market about to turn and keen to get their hands on tonnage. "There's an anticipation of ... Wind power for shipping: nice to have or a must Wind-assisted ship propulsion (WASP) has progressed from a perceived blue sky technology to one of the potential key elements in decarbonising the future of maritime shipping. A lot has been said about this group of technologies that harness wind power to thrust a vessel forward and their potential for reducing emissions and fuel costs. One ... Dwell time 'back to normal' at San Pedro ports The Pacific Merchant Shipping Association (PMSA) reports that container dwell time at the San Pedro ports - i.e., the ports of Long Beach and Los Angeles - continues to stabilise as volumes continue to drop post the pandemic-related cargo surge. In January, dwell time was an average of 3.2 days for containers leaving on trucks ...

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FEBRUARY 22, 2023

Diana Shipping posts higher than expected fourth-quarter profit Diana says it has signed a deal with a European bank for a $100m credit facility to refinance existing credit... Lower prices and growing fleet to boost LNG bunkering LNG bunker prices have dropped sharply in global hubs to become competitive with marine gasoil, prompting an increase in LNG... NorthStandard hit by loss of Sovcomflot, Maersk and MSC vessels London Club sees large fall in mutual book and understood to have lost two big-name Greek accounts United Maritime sees 'substantial' dry bulk market improvement ahead Chief executive says market weakness driven mainly by 'temporary factors' Dry bulk should see healthy rates this year, says Braemar Capesize lift should come in a few months as China's industrial output ramps up following its zero-Covid policy, says shipping... StealthGas reports record annual profit The record performance came against the backdrop of 'a difficult environment with rising interest rates and a smaller fleet,' said... Scrubber revival boosted by tanker interest As containership owners focuses on alternative fuels, the tanker sector appears to be the main driver of growth for exhaust... Calls from US and EU for tightened Russian shipping sanctions Better information sharing and tightened measures to cut off sanctions evasion are on the table in the EU and US... One dead after general cargoship breaks in two off Russia The vessel, which arrived in Novorossiysk anchorage on February 15, was carrying about 3,000 tonnes of marble loaded in Iskenderun... Ammonia-fuelled bulker design gets approval in principle Project partners expect the green design to lead the industry's sustainable development Container sector faces flood of newbuilding deliveries Carriers spent the profits from the pandemic boom on newbuilding orders. Those vessels are now about to hit the water... LR launches boxship safety initiative Fires and container losses are relatively infrequent. But the consequences can be dramatic and costly, particularly with new risks emerging BW Epic Kosan expects growth in LPG trade Company is cutting older, smaller vessels as part of a fleet renewal program Daily Briefing The great flag exodus: Where did Iran-linked ships deflagged by Panama go? | Bulkers departing Russia's major coal ports mostly... ABS verifies non-flammable battery design for maritime use Battery produced by Singapore-based Gennal Engineering is to move into prototype testing MOL to study trial use of liquefied bio-methane in LNG-fuelled carriers LNG fuel is expected to reduce carbon dioxide emissions by about 25% compared to conventional fuel oil, with further reduction... Freeport LNG gets US approval for partial restart of fire-damaged export plant The second largest liquified natural gas export facility in the US was forced to shut down in June Matson says transpacific market conditions 'remain challenging' Weaker volumes on China routes resulted in sharp drops in fourth quarter income

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FEBRUARY 22, 2023

Retail inventories to weigh on trans-Pacific through H1: Matson Matson's chief executive told investors that trans-Pacific volumes may not recover until the back half of 2023 due to a persistent inventory overhang among retail shippers. Slync investors double down on beleaguered company with new funding A new funding round for the embattled logistics software vendor is bound to raise eyebrows in an industry that has long been cynical of the impact of venture capital-backed founders. Operator ITCSI makes $343 million bid for new Melbourne container terminal The port is unlikely to decide for another year or so how the terminal will be developed, meaning it could negotiate with ICTSI over its proposal or invite bids from other terminal operators. Southeast, Gulf ports expect container uplift from electric vehicle plants With just under $50 billion in fresh investments unveiled last year for electric vehicle manufacturing plants in North America, ports in the Southeast and along the Gulf Coast are expecting additional volumes to soon be moving across their docks. Centerm terminal expansion gives Vancouver critical boost in capacity Canada's largest container port is on a growth trajectory in which it is forecast to hit capacity by the middle to end of this decade following average annual growth of 5 percent over the past 10 years. After pandemic shock, container shipping navigates uncharted waters The container shipping market is quickly moving on from the pandemic period and into a phase that is at once familiar but also entirely new and unpredictable, writes Peter Tirschwell.

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FEBRUARY 22, 2023

Genco earnings tops analyst bets in weaker fourth quarter as high dividends continue New York owner is seeing weaker bookings still in current quarter, but optimistic for turnaround later this year Difficult cargo finally meets its match but not before dragging down VLCC market Fearnleys says one cargo was holding up the Middle East VLCC market United Maritime ends first six months in business with a profit New York-listed owner of three bulkers and a tanker sees most opportunities for profit in dry bulk shipping CMB's dozen-strong container ship order in China could be axed Agreement for final six newbuildings has yet to materialise as container shipping market weakens Sammy Ofer remembered by Zim and Seaspan at naming ceremony Dual-fuel vessel is named after the late industry icon Europe will need increased volumes of LNG in 2023, Poten says 'Aggregators' locked into discussions with European governments and buyers to sell US volumes but mid-term contracts are preferred Diana Shipping beats Wall Street earnings estimates but trims dividend Bulker owner may give payout of at least $0.15 per share over first three quarters of 2023 Al Seer orders versatile VLGC in Japan and eyes two more Deal comes hot on the heels of VLGC contract signed with partner BGN in South Korea Detained Vietnamese tanker leaves Spanish port after STS probe Elephant was held for a week for reported technical and document issues linked to ship-to-ship transfers Ukraine war: Ukrainian seafarers struggle to adapt Seafarers and their families are up against displacement, trauma and corruption as the war drags on Frangou happy with $1.5bn newbuild slate as Navios Partners profit disappoints analysts Greek CEO says backlog of deliveries is enough to renew the mixed fleet NorthStandard suffers 14m gt drop in tonnage after P&I renewal Executive says fall was expected as some members of both clubs needed to redistribute cover Havila faces more newbuild delays after yard workers help with earthquake relief Disaster means Tersan Shipyard has declared a force majeure on production Green Seas: What can shipping do about its plastics pollution problem? After recent incidents of plastic pellets washing ashore in France and Dubai, our environment newsletter explores efforts to tackle 'nurdles' Container ship tonnage providers profit from sales despite fall in values Lomar and a handful of German owners pick up pace with further feeder container ship sales Yilport to upgrade Croatia's Sibenik into a panamax terminal Turkish port operator notches up yet another acquisition, reaching 24 terminals in 12 countries Ukraine war: Fragile UN grain deal puts shipping centre stage The anniversary of the Ukraine war coincides with talks to renew the lucrative, beneficial but vulnerable scheme Rising prices tempt Frontline into first tanker sales in seven years Disposals of VLCC and suezmax reported by John Fredriksen company Yamane and Rabe wrestle with NYK's Saga Shipholding renewal dilemma The open-hatch bulker fleet is in need of renewal, but travelling gantry cranes may have already priced themselves out of existence Braemar recruits broker Rebecca Reed-Sperrin to lead new oil derivatives desk Expansion of UK shipbroker's securities division continues apace NYK's Saga Shipholding faces renewal dilemma The open-hatch bulker fleet is in need of renewal, but travelling gantry cranes may have already priced themselves out of existence Owners concerned over 'disconnect' between elevated bulker values and weaker freight rates But Braemar analyst Alexandra Alatari believes market earnings are set to improve for bigger vessel sizes Hyundai Samho adds gas carrier newbuildings to already-bulging orderbook Middle East's ABGC DMCC has doubled its VLGC orderbook to four units Njord: Greek owners key to decarbonising shipping Green tech venture opens office in Greece where it has a third of its clients MOL set to make Japan's first trial of bio-LNG as a marine fuel Company teams up with Air Water Inc on cow manure-derived product that will be bunkered to a coastal LNG-fuelled vessel Turkish tanker freed during oil leak probe Besiktas Group denies any leak from small tanker off the northwest coast of Spain Navios, Maersk and Royal Caribbean switch up P&I cover as renewal goes to the wire Skuld and Gard make major gains as some of shipping's biggest fleets reshuffle their P&I entries Purus acquires second gas carrier newbuilding from Evalend Greek owner Kriton Lendoudis turns a handsome profit from flipping ships after delivery Braemar-GFI's Sam Mitchell takes over as chairman of tanker FFA association Experienced broker elected to replace Oil Brokerage's Andrew Hamilton Rising prices tempt Frontline into first tanker sales for seven years Disposals of VLCC and suezmax reported by John Fredriksen company Belships profit holds firm despite fourth-quarter rout in supramax market Supramax and ultramax owned said it is 'comfortably positioned' with forward cover while the pace of China's economic recovery stays 'uncertain' CMB's order dozen-strong container ship order in China could be axed Agreement for final six newbuildings has yet to materialise as container shipping market weakens BW Epic Kosan charters in newbuilding as it ships out oldies Singapore LPG carrier owner focusing on younger, larger vessels in 2023 Kyklades Maritime turns to China as it eyes product tanker newbuildings Chinese yards have been successfully attracting Greek tanker owners for big product tanker newbuildings ESL hands back six bulkers due to the high cost of charter extensions Finnish owner also logs its best-ever profit despite Russian disruption Pacific Carriers exits VLGC market with sale of the Rubra The Singapore-based shipowner has sold the 22-year-old carrier for more than it paid five years ago Twenty-year-old LNG steamship put up for sale as S&P market hots up Market is abuzz with talk on secondhand ships as buyers and sellers battle to price older vessels coming off long-term charters Boxship giants look to technology accelerator to help combat fires at sea Lloyd's Register-led initiative brings together some of the world's biggest maritime cargo carriers OOCL gets its first newbuilding in five years and it's a whopper Hong Kong shipowner said its latest container ship delivery is its first vessel over 24,000-teu

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FEBRUARY 22, 2023

'Colossal' tidal wave of new container ships about to strike New Alphaliner data highlights the enormity of new container shipping capacity that's poised for delivery. Passenger-to-freighter conversions keep on humming An Airbus affiliate that converts used passenger planes into cargo haulers plans to outsource some work to a new partner in China. Concern rising over US West Coast labor pact Almost eight months without a union contract, container terminals and their workers are making customers nervous and risk losing business permanently, Global Supply Chain Week panelists warn.