Canada orders first hybrid Coast Guard vessel Public Services and Procurement Canada has awarded Gaspé, Quebec, shipbuilder Chantier Naval Forillon a CAD 55.5 million (about US$40.5 million) contract to build Canada's first hybrid Coast Guard vessel: the new Near-Shore
Vineyard Wind 1 completes first turbine installation Marking a milestone in U.S. offshore wind development, installation of the first GE Haliade-X Wind Turbine Generator (WTG) at the Vineyard Wind 1 project was completed this week. It was hailed as
Strike could close the St. Lawrence Seaway On October 18, Unifor, Canada's largest private sector trade union notified the St. Lawrence Seaway Management Corporation that its members are ready to strike as of midnight on Saturday, October 21, 2023,
MABUX global fuel indices move upwards Marine Bunker Exchange (MABUX) global indices turned into an upward trend, primarily driven by the escalating conflict in the Middle East. The 380 HSFO index rose by US$1.17, the VLSFO index added US$10.08 and the MGO index increased by US$14.73. Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - continued to widen, plus US$8.91. It remained consistently above the US$
Navigating the Sea of Opportunity: Harnessing Blank Sailings in Container Shipping In the vast expanse of global trade, shipping containers play a pivotal role, serving as the silent behemoths that carry goods from one continent to another. While the continuity of scheduled voyages ensures smooth trade flows, disruptions are sometimes inevitable. Enter 'blank sailings,' a phenomenon that, if leveraged correctly, can present an unexpected opportunity for shippers and logistics p
DP World and Standard Bank conclude US$365 million facility agreement DP World has extended its long-standing partnership with pan-African bank, Standard Bank, by concluding a US$365.1 million facility agreement. This agreement aims to support its logistics and market access expansion across the sub-Saharan (SSA) region. The agreement gives DP World access to a multi-product, multi-jurisdiction, and multi-currency facility (MCF), designed to support its general ban
Barcelona port's container traffic drops in 2023 first half The port of Barcelona announced that container traffic declined by 11% to 1.6 million TEUs in the first half of the year. Port Authority's general manager, José Alberto Carbonell, stated that 32.5 million tonnes of goods were moved, which is 10.6% less than in the same period in 2022, "due mainly to a drop in liquid bulk and transshipment containers." "Dry bulk and cars are the positive side of t
DP World acquires US-based car and vehicle transportation specialist DP World has reinforced its commitment to the global automotive industry with the acquisition of CFR Rinkens, a specialised logistics service provider headquartered in Long Beach, California. According to DP World, the acquisition of CFR Rinkens represents a strategic move to enhance its capabilities in delivering precisely tailored solutions to its automotive clients. CFR Rinkens provides profic
First-of-its kind retrofit sees Maersk boxship convert to methanol propulsion Maersk is undertaking a symbolic retrofitting of one of its ships to run on methanol, as the Danish shipping giant continues to emphasise its belief in methanol as an alternative fuel. On 18 October, Maersk and Chinese ship repair yard Zhoushan Xinya Shipbuilding signed the contract for the works in a grand ceremony in Zhoushan, China. It is the first known retrofitting of a conventionally fuelle
Port of Long Beach achieves strongest September in history Dockworkers and terminal operators in the port of Long Beach (POLB) moved 829,429 TEUs in September, up 11.8% from the same month last year and surpassing the previous record set in September 2020 by 78,849 TEUs. Therefore, the Californian port achieved its busiest September on record, mainly driven by consumer demand for holiday-related goods and the recent ratification of a labor pact between d
European states with most expensive shipping costs: New study A new study by cross-border shopping platform UBuy Switzerland reveals the states where is most costly to ship to are Armenia, Azerbaijan, and Georgia. The study compared shipping costs from everywhere in the world to all European countries, and then calculated the average to discover which countries are most expensive to ship to. Armenia, Azerbaijan, and Georgia share the top spot with an averag
Israel-Hamas war: 10% of Ashdod Port staff recruited by Israeli army, first war-related surcharges announced Israel's Ashdod Port, one of the largest ports of the country and a crucial asset for the national economy, is continuing to operate normally despite the ongoing conflict between Israel and Hamas, according to the executive chairman of the Ashdod Port Company's board of directors, Shaul Schneider. Talking to Container News, he pointed out that employees of Ashdod Port Company continue to maintain
Associated British Ports appoints new head of Health, Safety, and Environment Associated British Ports (ABP) welcomes Roger Pearce to the company, as head of health, safety, and environment (Humber) and supporting health and safety for the Group. Roger Pearce has worked for both regulatory and commercial organisations within various sectors, including manufacturing, real estate, and hospitality. Moreover, he joins the team after 12 years in the healthcare industry where he
CMA CGM reshuffles TMX 1 service connecting Turkey, Spain, France, Algeria and Malta CMA CGM - Short Sea Lines Division has announced the reshuffling of its TURKEY MED EXPRESS 1 (TMX 1) service from the 41st week of the year between Turkey, Spain, France, Algeria and Malta. This revised weekly service, which started ex Gemlik on 14 October, is expected to maintain a sustainable maritime bridge between North Turkey and Spain. The French ocean carrier will deploy four 1,400 TEU con
First CO2 storage project in the Netherlands is launched Porthos has made a final investment decision to build the Netherlands' first big CO2 transport and storage system. Construction in Rotterdam will begin in 2024, with the Porthos system anticipated to be operational by 2026. The construction of Porthos infrastructure will cost US$1.4 billion. Porthos will now award contracts to complete the project now that the final investment decision has been m
Hapag-Lloyd, Norsul set up new JV company for cabotage business in Brazil German shipping company Hapag-Lloyd and Brazilian shipping and waterway logistics business Norsul have formed a new joint venture, "Norcoast". The new JV, based on a 50-50 agreement, plans to begin supplying container cabotage and feeder services at Brazilian ports in the first quarter of 2024. Norcoast will operate independently in the area, leveraging the strengths of both parent companies. "Th
Evergreen links up with Danish energy investor CIP on green shipping fuels Taiwanese liner Evergreen has teamed up with Danish fund manager Copenhagen Infrastructure Partners to jointly explore the production and use of carbon-neutral e-fuels. A memorandum of understanding between the world's seventh largest liner and CIP, on behalf of its Energy Transition Fund, covers cooperation on several aspects, including the production of e-fuels in Taiwan based ...
Harland & Wolff wins Cenovus FPSO upgrade contract British shipbuilder and fabricator Harland & Wolff has secured a contract from Canadian oil and gas company Cenovus Energy for the mid-life upgrade of the SeaRose floating production storage and offloading (FPSO). The 2004-built unit, which first came into Belfast in 2012, will return in the first quarter of 2024 and will be in the ...
US eases sanctions on Venezuela Washington is easing its six-year-old sanctions against Venezuela. The US has issued a six-month licence authorising transactions in Venezuela's oil sector after Venezuelan administration and opposition leaders reached an agreement to ensure fair 2024 elections. The Latin American country's petrochemical industry is on the brink of being able to pump 200,000 more barrels of crude ...
US identifies new offshore wind area in Gulf of Maine The US Bureau of Ocean Energy Management (BOEM) has identified a draft wind energy area (WEA) in the Gulf of Maine covering approximately 3,519,067 acres offshore Maine, Massachusetts, and New Hampshire. The Gulf of Maine has significant opportunities for offshore wind energy development and the identified area ranges from approximately 23-120 miles off the coast. ...
Fredriksen-backed Northern Drilling readies to fight Hanwha arbitration award John Fredriksen-backed rig investment company Northern Drilling will seek permission to appeal against a ruling by a London tribunal after losing its initial claim against Hanwha Ocean, formerly DSME, over cancelled resale contracts for two ultra-deepwater drillships. The Oslo-listed company said in a filing that it plans to challenge the ruling "on grounds of serious ...
CSBC and DEME joint venture secures Taiwanese wind farm contract with Ørsted CSBC-DEME Wind Engineering (CDWE), a joint venture between Taiwanese shipbuilder CSBC Corporation and DEME Offshore from Belgium has won a new offshore wind contract in Taiwan. Danish renewables developer Ørsted has selected CDWE to carry out seabed levelling and scour protection for the Greater Changhua 2b and 4 offshore wind farms. The scope of work ...
Analysts diverge on shipping risk in Middle East Gulf but warn of volatility Security analysts queried by Lloyd's List have differing views on the current risk to shipping in the Middle East Gulf...
The Lloyd's List Podcast: Why moving from ambition to action is easier said than done The podcast comes from Athens this week where the industry's progressive wing have been trying to move the decarbonisation debate...
Jaldhi Overseas returns to Yamic for ammonia carrier newbuildings Singapore-based dry cargo and tanker operator Jaldhi Overseas has signed a letter of intent with Sino-Japanese shipyard Jiangsu Yangzi-Mitsui Shipbuilding
Shipping seeks closer collaboration to achieve net zero ESG conference in Greece told that operational efficiency takes a back seat to new fuels in industry debate but will...
Zim imposes war risk surcharge for Israel calls Despite the new charge, Zim continues to operate and accept bookings to and from Israel. Elsewhere, Maersk has put a...
EU ETS explainer: How will the world's first carbon tax on shipping work? The EU carbon price has been hovering around €80-€90 per tonne in recent months, meaning total revenues from shipping could...
Rough waters ahead as carriers try to restore rates Overcapacity and weak demand have led to a toxic environment for container lines. The fight to restore rates will not...
Shore power still far from a sure thing Electrification can help ports reduce their emissions. But it will take government support and investment to support the move to...
Bulk carrier values rising as cash-rich owners diversify Bulk carriers are becoming the obvious choice for well-heeled shipowners looking to deploy capital, says Braemar analyst Alexandra Alatari
No risk to shipping after US shoots down missiles over Red Sea A US guided missile destroyer based in the northern Red Sea shot down three attack cruise missiles and several drones...
Limited Venezuela crude output tempers tanker upside Suezmaxes and aframaxes are expected to be the main beneficiaries, while exports to Asia using VLCCs could also rise, according...
Cargo surge sends port of Long Beach to record September The port of Long Beach posted strong figures in September reminiscent of the pandemic-era shipping boom. While it cited consumer...
A little less conversation, a little more action please Stripped of its useful scapegoat, the conversation inside shipping's most progressive think tank has struggled to reframe the narrative and...
Daily Briefing US suspends some Venezuela sanctions | Ukraine hopes to expand temporary corridor as Danube suffers vessel build-up | EC unveils European...
Hapag-Lloyd enters Brazil feeder market amid cabotage deregulation Forwarders in Brazil say Hapag-Lloyd's entrance into the feeder market through a joint venture will inject competition amid an easing of the country's cabotage rules.
Carrier, broker failures solidifying US truckload spot pricing floor US truckload shippers are showing more "sensitivity" to supply and service issues, supporting a new spot market pricing floor but not giving rates much lift, according to trucking and logistics executives.
US Court of Appeals probes FMC fact-finding in Evergreen detention case The case of TCW Trucking v. Evergreen could set a precedent for whether the US Federal Maritime Commission can penalize ocean carriers for charging detention and demurrage fees during weekends and holidays when a port is closed.
Export rebound, manufacturing imports keeping Gulf Coast volumes afloat Amid a down year overall, Gulf Coast port volumes are holding up thanks to petrochemical exports, as well as growing imports related to energy projects and specialized manufacturing in the region.
Rising capesize bulker market suggests China may restock iron ore inventory, analyst says Tight supply may also be causing sector buoyancy, Baltic Exchange analysts note
Special report: Shipyards face up to a world of challenges TradeWinds reporters Lucy Hine, Irene Ang, Adam Corbett, Ian Lewis and Eric Priante Martin look at why decarbonisation is key as pricing, labour shortages and inflation shape the battle for business; how China is going high-spec to leave rivals in its wake; and how Fincantieri is setting sights on net-zero cruise ships Read the articles in full via the links below
Editor's selection: Industry unites on green shortcut, Venezuela's tanker boost and Berge's Bulk's 'Marshall Plan' TradeWinds pauses to look back at some of the big stories this week
Castor Maritime gets extra six months to turn its US share price around Nasdaq grants shipowner more time to boost stock to above $1
Castor Maritime given another six months to turn share price around in US Nasdaq exchange grants shipowner more time to boost stock back above $1
Venezuela deal could boost suezmaxes and aframaxes, but not for a while It will take time for Venezuela to claw back crude production before impact on tankers will be felt, analysts say
Seafarer injured as Liberian bulk carrier damaged by sea mine in Danube canal Footage shows no hull breach after the incident
Dynagas FSRU starts charter to Deutsche ReGas as Germany juggles regas vessels But unit is being chartered out as an LNG carrier before it starts regas role
Odesa grain shipments start to pick up as port recovers Safe passage of ships is encouraging more exports after attacks
Market breather: tanker bulls 'grazing in the fields' for now, Baltic Exchange says Consultant Urs Dur says there is much to make the sector nervous on the macroeconomic front
Equinor and Stealth Maritime investigate death of seafarer on LPG carrier Norwegian charterer reveals accident on Greek vessel
Wilhelmsen's new energy chief Wang leaves Astrocast board due to 'policy changes' Satellite company says executive has resigned after two years as a director
Marine insurers back UK shipping analytics start-up CetoAI Seed funding will allow company to develop software to spot machinery breakdown risks early
Europe to forge ports alliance to combat 'tsunami of cocaine' Measure is part of a new road map to take on organised crime gangs bringing in cocaine on vessels
US forecasts record corn crop, boosting prospects for dry bulk shipping 'Any increase in grain movements is good' for bulkers, even if it means greater Panama Canal traffic, shipowner says
Maersk embarks on historic methanol retrofit for container ship at Zhoushan Xinya Ceremony held to confirm pioneering work that will take place next year
Gulf of Mexico oil shipping zone resilient in 2023 amid challenges on US east coast Global warming is accelerating strengthening of Atlantic hurricanes, says study
Maersk signs up for first ever container ship methanol retrofit at Zhoushan Xinya Ceremony held to confirm pioneering work that will take place next year
Atlantic hurricanes getting stronger more quickly due to global warming Key oil shipping zone in the Gulf of Mexico has been less affected in 2023 than other areas of the US Atlantic coast
From Norway's ski lifts to start-up, Seefleet offers tech solutions to old-school broking business Eirik Leid began developing the software as a side project, ultimately attracting clients ranging from brokerages to shipyards
d'Amico Dry Cargo scores one-year deal for kamsarmax bulker above market assessments Berge Bulk hires Medi Egadi at $15,500 per day
Ports seen as 'key node' in UK's cross-sector efforts to decarbonise freight transport Maritime freight's green transition could require £75bn in investment, mostly on land
Fredriksen drilling rig firm to appeal Hanwha arbitration loss Oslo-listed company said it will also have to issue fresh equity to fund and appeal process
From ski lift to start-up, Seefleet offers tech solutions to old-school broking business Eirik Leid started building the software on the side, eventually nabbing clients from brokerages to shipyards
Hyundai Heavy boss SY Park puts his foot down on pricing Yard also targeting overseas facilities in order to lower costs and source labour
Healthy backlog offers respite to Japan amid consolidation Many yards are sold out until the end of 2027 but ground is being lost to Chinese and South Korean rivals
Chinese shipbuilders dive deeper into high specification vessel markets Competitive prices and early delivery slots have lured shipowners away from South Korea and Japan
d'Amico Dry scores one-year deal for kamsarmax bulker above market assessments Berge Bulk hires Medi Egadi at $15,500 per day
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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