World's largest short-sea RO/RO fitted with rotor sails Luxembourg-headquartered logistics specialist CLdN reports that its RO/RO vessel the M/V Delphine has now been successfully fitted with a rotor sails wind propulsion system will return to service from Zeebrugge, Belgium, as
MSC Cruises sets date for MSC Euribia naming ceremony The naming ceremony for MSC Cruises' newest flagship, MSC Euribia, will take place in Copenhagen, Denmark, on June 8, 2023, the company announced today. As a sister ship to MSC Grandiosa, she
MOL eyes use of bio-LNG derived from cattle manure Mitsui O.S.K. Lines, Ltd. (MOL) is looking to trial the use of liquefied bio-methane (LBM) derived from cattle manure, in LNG-fueled vessels. It has signed a Memorandum of Understanding (MoU) with LBM
SpaceX launches second Inmarsat I-6 satellite Satcom giant Inmarsat's latest I-6 F2 satellite was successfully launched from Cape Canaveral, February 17, aboard a SpaceX Falcon 9 rocket. The launch saw I-6 F2 reaching a top speed of almost
Svitzer Marine Ltd enters guilty plea in crewmember death case The U.K. Maritime and Coastguard Agency (MCA) reports that Svitzer Marine Ltd. has been fined GBP 2 million (about $2.41 million) after pleading guilty to failing to operate a vessel safely and
TTB 2023 attendees to tour USS Alabama Battleship Memorial Park TTB 2023 attendees will have the chance to visit USS Alabama Battleship Memorial Park on March 8 to wrap up the conference in Mobile, Ala. Attendees who register for the tour
ABS names Panos Koutsourakis to head sustainability team ABS has appointed Panos Koutsourakis to head its global sustainability team. Koutsourakis is an 18-year industry veteran who has key industry experience with shipping companies, classification, operations, design and new construction, decarbonization
Energie 360°, TES agree on green cooperation Energie 360°, based in Zurich, Switzerland intends to deliver 100% renewable energy to its clientele by 2040. Likewise, Tree Energy Solutions (TES), a worldwide green hydrogen business, has a goal of achieving net-zero emissions by decarbonising the energy supply chain. Both businesses want to help each other achieve their goals: From 2027, TES intends to provide Energie 360° with approximately o
Rotterdam reports container decline amid higher revenue Container throughput fell by 5.5% at the port of Rotterdam in the previous year, reaching 14,455,000 TEUs. According to the Port of Rotterdam Authority, the main cause of the container volume decline is the fact that box traffic to and from Russia came to a virtual standstill after the invasion of Ukraine. "The war should work as an incentive to make Dutch and European energy and industry more re
PIL announces first digital marine fuels deal completed outside Singapore Global marine energy solutions provider and trader KPI OceanConnect, Singapore-based container line Pacific International Lines (PIL) and physical marine fuel supplier Bunker One have successfully completed their first live electronic marine fuel inventory statement for an overseas delivery through the Singapore Trade Data Exchange (SGTraDex). PIL's Singapore-flagged container vessel Kota Rakan w
Utilisation pushes freight rates down, except Atlantic, reports Sea-Intelligence Sea-Intelligence analysis shows that during the pandemic period, a mix of high demand and loss of capacity due to vessel congestion resulted in record vessel usage rates, which in turn resulted in a rise in spot rates, both of which peaked in February 2022. However, vessel utilisation has fallen significantly since then; in the case of the Transpacific, it has now returned to pre-pandemic levels,
Global bunker indices register moderate decline Over the eighth week of the year, Marine Bunker Exchange (MABUX) global bunker indices showed a moderate decline. The MGO index lost almost US$26/mt falling to US$939.4/mt, the VLSFO index decreased by around US$21/mt reaching US$672.76/mt, while the 380 HSFO index remained relatively steady at US$481.21/mt. "At the time of writing, irregular fluctuations prevailed in the market," pointed out a M
HMM and Foresys to recycle discarded mooring ropes HMM has become the first South Korean shipping company to recycle discarded nylon mooring ropes, following in the footsteps of a similar initiative started by Norwegian car carrier owner Wallenius Wilhelmsen in September 2022. South Korea's flagship carrier will work with compatriot ocean waste recycling specialist Foresys to collect and treat discarded nylon mooring ropes. HMM said that it usual
Slow start to 2023 box volumes in Melbourne Overall container traffic, full and empty boxes, at the port of Melbourne was down 6.7% in January compared with the same month last year. The total container volumes of the major Australian port reached 257,227 TEUs in the first month of 2023. Port of Melbourne reported that full overseas container imports dropped by 11.1% in January 2023, with furniture, metal manufacturing, household appliance
APM Terminals Pipavav inaugurates new warehousing facility APM Terminals Pipavav has collaborated with Contrans Logistic to build a new warehousing complex near the port of Pipavav, in the Saurashtra region in India. APM Terminals said the Multimodal Logistics Park (MMLP) will provide warehousing, storage and tailored logistics solutions and will offer connectivity with international and coastal shipping routes, access to the Indian rail network through
ZIM and HATS announce new joint venture for shipping services in Vietnam Israeli box carrier ZIM and Hai An Transport and Stevedoring Joint-stock Company (HATS) have launched Lotus Link, a new joint venture to operate domestic and regional shipping services in Vietnam. Haiphong-based HATS operates port and marine transport services including port cargo handling, warehouse leasing and shipping services. Lotus Link will also be headquartered in Haiphong and headed by H
Guyana operators order Konecranes equipment for Georgetown terminals Muneshwers and John Fernandes, port operating companies in Guyana, made a joint order for two Generation 6 Konecranes Gottwald Mobile Harbor Cranes to build up cargo handling terminals in the capital Georgetown. The cranes are scheduled to arrive in the second quarter of 2023 and they are going to be the very first mobile harbor cranes in Guyana. The two companies are working together to build a
Yilport takes over operations at Croatian port Turkey-based operator Yilport Holding continues to expand its port and terminal portfolio taking over the operations at the Port of 'ibenik in Croatia. With this latest move, the portfolio of Yilport reached 24 terminals across 12 countries. The takeover is part of YILDIRIM Group's - Yilport's parent company - acquisition of Petrokemija d.d., the largest fertiliser plant in Croatia. The port used
Port Houston reports steady container volumes in January Port Houston box traffic remained relatively steady in the first month of the year handling 319,990 TEUs, translating to a slight decrease of 1% compared with January 2022. In particular, loaded imports were down 6%, but total imports, including empty import containers, were up 5%, buoyed, according to the port, by a surge in empty containers repositioned to Houston to support a strong start in e
GasLog seals vessel sale and charter deals US-listed Greek owner GasLog has sealed a deal to sell its 2006-built LNG carrier , currently operating as a floating storage unit in Greece. In its fourth-quarter results statement, the Peter Livanos-controlled LNG shipping player said it has entered into a memorandum of agreement with an unrelated third party, with the transaction expected to be ...
Gram Car Carriers clinches three-year double Oslo-listed Gram Car Carriers (GCC) landed three-year charter contracts with a leading European operator for its 2,000 ceu vessels City of Oslo and Viking Odessa. Gram said the dals are at $27,750 per day for each vessel and add approximately $61m of future revenue to the contract backlog. The new contracts are set to start ...
Teekay Tankers takes purchase option on nine ships Canadian owner Teekay Tankers has given notice that it will exercise purchase options on nine vessels under sale and leaseback agreements. The New York-listed firm is paying $164m for the transactions that will be funded using cash on hand and executed in March of this year. Earlier this month, the company signed a term sheet ...
Saipem looks at biofuels for its vessels Italian energy services contractor Saipem has teamed up with compatriot energy firm and shareholder Eni with the aim of reducing the carbon footprint of its fleet. Under a memorandum of understanding with Eni Sustainable Mobility, Saipem will look to employ biofuels on its drilling and construction vessels, with particular attention to operations in the Mediterranean ...
Yilport earmarks $53m for Croation port upgrade Turkey's Yilport Holding has taken over the operations at the Port of 'ibenik in Croatia as part of Yildirim Group's acquisition of Petrokemija, the country's largest fertilizer plant. The port operator said it intends to turn 'ibenik, which used to operate as the main fertilizer handling port in the country, into a multi-purpose terminal, offering ...
SSY scales up offshore ambitions with Westshore swoop UK shipbroker Simpson Spence Young (SSY) has marked its entry into the offshore sector with the acquisition of Westshore Shipbrokers in Norway. Under the deal, Westshore will become part of SSY in Norway as part of the London-based brokers' wider strategy targeted at the global offshore market. Financial terms have not been disclosed. Established in ...
Splash investigation pinpoints the true scale of the shadow tanker fleet One of the most discussed, debated questions in shipping these days is the size of the so-called dark or shadow fleet, the vast array of tankers that are travelling the world's oceans under the radar, trying to avoid sanctions. To existing sanctioned countries such as Venezuela, Iran, and North Korea, a very substantial name has ...
Eidesvik forms shipowning joint venture with Reach Subsea Norway's Eidesvik Offshore has been revealed as a joint venture partner of compatriot offshore services player Reach Subsea for the ownership and operation of the subsea vessel . The two companies have formed a new entity, in which Eidesvik will be a majority stakeholder with 50.1%. The acquisition worth $29m and fully financed by the ...
ZIM makes inroads in Vietnam Israeli carrier ZIM Integrated Shipping Services Ltd. and Haiphong-based Hai An Transport and Stevedoring Joint-stock Company (HATS), announced today the launch of Lotus Link, a joint venture to operate domestic shipping services in Vietnam. The joint venture will serve the major ports in Vietnam, Ho Chi Minh, Danang and Haiphong as well as satellite provinces ...
Fugro snaps up pair of P&O Maritime Logistics' PSVs Fugro has acquired two platform supply vessels from DP World's P&O Maritime Logistics which will be repurposed to geotechnical vessels. The Dutch surveyor is adding the 2015-built and for an undisclosed sum to support the demand for its services in the growing offshore renewable energy market. "Securing long-term capacity is critical in order to capture ...
Turkish tanker cleared in Spanish pollution probe After being detained by Spain for allegedly discharging hydrocarbons in open waters of the Mediterranean, the Turkish tanker was released and cleared of any wrongdoing following an investigation at Tarragona port. The Maltese-flagged ship owned by Besiktas Shipping Group was intercepted by Spanish authorities after a discharge that extended over an area of 12.7 sq ...
Ukraine seeks changes to the Black Sea Grain Initiative Ukraine is gearing up to renegotiate the terms of the Black Sea Grain Initiative, a deal with warring foe Russia created in July last year which allows Kyiv to export grain from three Black Sea ports. Due for renewal every three months, the current deal runs out on March 18. Ukrainian officials have made it ...
Dutch boxship blaze off Latvia The crew of a Dutch-registered 1,349 teu containership called Escape have been evacuated after a fire ripped through the vessel transiting the Baltic Sea yesterday morning. All 15 crewmembers were safely rescued by another ship, the Kairit, after boarding a lifeboat just in the early hours of Wednesday morning. The JR Shipping-controlled ship was heading ...
Why dry bulk shipping does not belong to the public markets Splash columnist Pierre Aury runs the rather depressing numbers behind top listed dry bulk concerns. There are plenty of reasons for a private company to list. From the company's point of view raising capital is the main one. Being able to attract and/or retain staff with packages which include shares and/or stock options is another ...
US Department of Energy to accelerate floating offshore wind deployment The US Department of Energy (DOE) on Wednesday announced new investments in floating offshore wind development to advance offshore wind transmission planning, research and technology, and partnerships. With two-thirds of America's offshore wind resource located in deep-water areas that require floating platforms, advances are urgently required to develop a robust domestic supply chain, reduce tec
Port of Montreal to invest $335m in port infrastructure The Port of Montreal has earmarked more than C$335m in its new five-year investment plan for its infrastructure on the Island of Montreal. This investment is planned to achieve four main objectives. The port is looking to sustainably develop and maintain port infrastructure to accommodate trade growth; strengthen, optimise and streamline the Greater Montreal supply ...
Cyprus calls on Brussels to deliver on industry support New Cyprus-UK agreement is part of country's 'collaborative vision' in shipping, says shipping deputy minister Vassilios Demetriades
Russia set to be ousted from IMO Council States seeking to sideline Russia inside IMO have encouraged Liberia to bid for a spot on the ruling Council -...
Teekay Tankers beats expectations on strong spot rates Teekay Tankers boosted by global oil demand growth and a low orderbook, chief and analysts say
Performance Shipping sees strong tanker market continuing beyond 2023 'We believe that tanker market developments since the beginning of last year are sustainable through this year and beyond,' says...
Euronav attacks Saverys' 'flawed back door' takeover bid Euronav management tells shareholders that the Saverys family plan to diversify the Belgian tanker giant is an 'incoherent strategy' that...
West bounces back from tonnage exodus as UK Club also books gains Gard remains world's largest marine mutual, as both newly merged NorthStandard and London see their books shrink
Tanker newbuilds boost record-low orderbook Newbuilding contracts for medium range and aframax tankers will boost a low crude oil and products tankers orderbook
Scale of Chinese purchases of Australian coal seen as token gesture More coal is heading to China following a thawing in relations between the two countries, but volumes so far are...
Chinese shipbuilder optimistic for demand recovery Yangzijiang says its order-win strategies have steadily shifted to alternative-fuelled and dual-fuel vessels
Pacific Basin looking past headwinds in dry bulk market Although a slowing economic backdrop is negative for dry bulk shipping, demand will be supported by significant global infrastructure investment...
Carriers facing negative rates on backhaul trades Despite pulling capacity, load factors remain low. With no signs of demand returning, carriers will be earning little on backhaul...
Tech layoffs are 'opportunity for shipping to attract talent' How the maritime sector will be able to benefit from tech layoffs will depend on individual companies' initiatives, forum told
Containership crew evacuated due to fire The 1,436 teu boxship, operated by CMA CGM subsidiary Containerships, has been towed towards the port of Riga
Zim launches intra-Asia push with Vietnam joint venture Zim has long seen intra-Asia as a strong growth market. A new joint venture with a local carrier will see...
Daily Briefing NorthStandard hit by loss of Sovcomflot, Maersk and MSC vessels | Scrubber revival boosted by tanker interest | Calls from...
US proposes first offshore wind lease sale in Gulf of Mexico Proposed project is part of US government vision to deploy 30 GW of offshore wind energy capacity by 2030
Drybulk rates facing 'temporary seasonal factors', says Genco chief China's reopening and a low orderbook 'bodes well for a strengthening market throughout 2023'
K Line completes third trial use of marine biofuel Trial already conducted using marine biofuel on supramax bulker
ILWU, PMA hope to reach West Coast contract deal 'soon' The rare joint statement comes amid growing frustration among US importers and West Coast ports that more than nine months of talks have yet to produce a new labor deal, causing a shift of cargo to ports along the East and Gulf ports.
US truck tonnage levels better than expected in January An actual decrease in truck tonnage last month was masked by a seasonal adjustment to an American Trucking Associations index, but US freight volumes aren't yet on the road to recovery.
Loss of Russian trade pulls down Rotterdam container volume Europe's three biggest container shipping ports reported falling volumes in 2022, with throughput dragged lower by geopolitics, COVID-19, and economic headwinds.
GSBN, Navis partner to help exporters track ERD changes The Global Shipping Business Network is giving exporters an app that would track changes to earliest return dates across container terminals that use Navis terminal operating systems.
SC Ports ends Saturday hours at Leatherman amid slowing calls The move by the South Carolina Ports Authority to cut hours at the Leatherman terminal comes a month after Hapag-Lloyd announced it would no longer call the facility amid an ongoing labor battle.
BlueCargo will use new investment to expand container platform nationwide Rising demand from importers reckoning with the costs of detention and demurrage have fueled an $11 million investment into container management provider BlueCargo.
Operator ICTSI 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.
Performance Shipping rides tanker rate rises into profitability New York-listed tanker owner sees TCE rates surge to $40,500 per day from $13,400 per day a year earlier
Paying dividends: tankers looking up, dry bulk down but importantly not out This week's Streetwise newsletter looks at how shareholder dividends may look different depending on the sector
Renewable diesel to take a chunk out of Jones Act tanker fleet, Norton says Overseas Shipholding Group chief executive says 10 of the 43 Jones Act tankers could end up moving the biofuel
Shipowners hoping US offshore wind vessel costs come down as complexities are worked out US shipyards are building ships to support the country's offshore wind push for the first time
Positivity 'sneaks back' into dry bulk as spot rates rebound and China recovery provides hope Equities 'trade unusually high' despite downward pressure on asset prices and rates, analyst says
G7 urges low-income countries to snaffle price-capped Russian crude Group of wealthy nations claim that price cap on seaborne oil is working and hitting Russian revenue
Cheniere sees 2023 LNG supply gap at one quarter of existing global production Producer set to add 30 mtpa of new LNG before 2030 to meet anticipated global demand
UK P&I Club is upbeat after 'positive' renewal Chief executive Andrew Taylor says the club is well positioned for future challenges
Chemical tanker asset values tipped to rise as term rates hold firm Clarksons Securities argues that one-year earnings are keeping the sector ahead of historical returns
Keenly-awaited $150m car carrier cartel trial set for 2025 Consumer champion has brought case in the UK against group of carriers fined by the EU for breaking competition law
'Sticky' valuations keeping Genco Shipping out of the S&P market Boss John Wobensmith looks on the bright side, saying the market is pricing in a near-term recovery of dry rates
CapeOmega and Neptune Energy unveil new CCS project requiring 'multiple ships' First venture would see Noordkaap ship CO2 volumes from RWE's Dutch biomass plant to North Sea reservoirs for injection
Pacific Basin aims to reignite fleet growth with 'dry powder' cash position Hong Kong owner is paying out a special dividend on the back of strong underlying results
Ukraine war: Marginalised flags flourish in the shadow of emerging dark fleet Small ship registers have become a popular choice for buyers of secondhand tonnage since Russia invaded Ukraine
Skuld and West of England claim major increases after renewal Both clubs have added new members and increased the size of their P&I portfolio
Pacific Basin Shipping aims to re-ignite fleet growth with 'dry powder' cash position Hong Kong owner is paying out a special dividend on the back of strong underlying results
Product tanker roller coaster plunges downwards as MRs take 26% hit Atlantic market coming under pressure as US cargo loadings decline
Ship manager disputes Albanian tanker 'detention' in Russian oil probe MR remains anchored off coast during detailed sanctions-busting probe
Ukraine war: How Russia's invasion changed the global tanker trade, in charts The war in Russia has changed the face of shipping with longer voyages, surging rates and a plunge in cargo prices
As dark fleet sails into lax flags, more cracks emerge in shipping's international safety order A year after Russia's invasion of Ukraine, ships continue to brazenly flout the global regulatory framework
Green ship business boosts organic growth at Bureau Veritas French classification society benefited from strong demand for dual-fuel container ships
Euronav warns against CMB gaining 'back-door' control with 'biased' board Belgian owner's bosses come out swinging as war of words ratchets up ahead of crucial meeting
Zim and Hats team up to form Vietnamese liner joint venture New operator Lotus Link to start with Vietnam-flagged vessels
Planets aligned for Braemar's Reed-Sperrin in 'interesting' derivatives markets Time was right to make a move, says head of broker's new oil desk
Teekay Tankers buys nine leased ships as it charters in three more New $350m loan deal also arranged as refinancing continues
Limassol-on-Thames? Cyprus and the UK bolster shipping ties Redefining their role after Brexit and the Ukraine war, two nations pledge across-the-board maritime cooperation
SSY launches offshore broking push with takeover of Goran Rostad's Westshore London shop plotting further expansion after breakthrough deal in Norway
Eidesvik Offshore eyes expansion as it refinances debt maturity to 2026 Strong fundamentals encourage Norwegian owner to seek growth in PSV and subsea sectors
Hoegh LNG in 'active dialogue' with new projects for FSRUs Annual losses more than double as regas specialist completes 'busy' fourth quarter
Russia's war in Ukraine changes global LNG fortunes and trade map Energy security fears boost liquefaction projects but volatility threatens to disrupt shipping
'What the f***?': MSC Apollo liable for bulk carrier crash after wrong turn UK judge finds fault lies with container vessel after collision off China with FMG bulker
Container ship 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
Dutch container ship evacuated after Baltic Sea blaze JR Shipping says the crew safely disembarked the Escape that was then towed towards Latvia
The right connections: What's driving shipping to go digital Regulatory pressures have pushed shipping to go digital, but they are not the only factor
Vessel impairments set to push Jinhui Shipping to $46m full year loss Supramax specialist also blames unprecedented challenging environment in the dry bulk market
P&O Maritime to launch zero-emission cable layer for wind sector Dubai-based offshore player will rebuild an existing unit in its fleet for the new role
Rio Tinto profit slumps on weak Chinese iron ore demand But Anglo-Australia miner echo's comments made by BHP that China demand is rebounding
Eastern Pacific Shipping mulls order for up to six VLGC newbuildings worth close to $600m The Idan Ofer-controlled company currently has four VLGCs under construction at shipyards in South Korea
Gulf Coast ports post mixed results in January Cargo flow remained constant at ports in Houston and Corpus Christi, Texas, but slowed slightly in New Orleans.
Atlas Air Q4 profits fall ahead of delisting Atlas Air took a profit cut in the fourth quarter, but comparisons with 2021 weren't good because it was a record year financially.
BlueCargo raises $11M to bring visibility to drayage fees "We knew the port terminals, we understood their operations, but mostly we understood their systems and data. We thought we could be the bridge that wasn't created before that could speak both parties' languages and get containers in and out," said BlueCargo co-founder and CEO Alexandra Griffon.
Chinese cargo airline SF invests in airframe refurbishment station Express carrier SF Airlines is gaining in-house capability to upgrade airframes through a joint venture in China with ST Engineering.
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