VIDEO: Bonnie G fuel removal gets underway The response to the Bonnie G grounding incident is making progress off Cyril E. King Airport, in Saint Thomas, U.S. Virgin Islands with fuel removal starting. The 195-foot Vanuatu-flagged RO/RO cargo vessel,
New Windward Offshore consortium orders 2+2 CSOVs Windward Offshore has placed an order for two hybrid, green methanol ready, commissioning service operation vessels (CSOVs) with Fincantieri's Norwegian-headquartered Vard subsidiary that includes an option for two additional vessels. The first
FERRIES 2023: Renewable diesel as a ferry decarbonization tool At FERRIES conferences, we talk a lot about various fuel options for ferry operations. One fuel for ferries that we haven't explored in detail-at least not lately-is renewable diesel. At FERRIES 2023,
Siemens Digital Logistics selects BlueBox Systems tracking solutions Siemens Digital Logistics is the new customer for BlueBox Systems, a developer of intelligent air freight tracking solutions. In particular, with immediate effect, data provided by BlueBox Systems is integrated into the logistics platform AX4 of Siemens Digital Solutions. Therefore, BlueBox Systems enables more than 500.000 AX4-users a fast and easy access to its high-quality airfreight data from
Intellian and Inmarsat ink deal for next-generation maritime safety terminal development Intellian Technologies, a provider of satellite communications technology and solutions, and Inmarsat Maritime, a Viasat business, have inked a Memorandum of Understanding (MOU) for the creation of a next-generation GMDSS safety terminal for use on Inmarsat's ELERA L-band network. The new safety terminals will serve as the standard Inmarsat Maritime product for the next-generation Fleet Safety se
Hapag-Lloyd installs tracking devices on 700,000 containers Hapag-Lloyd has announced the installation of its 700,000th tracking device, describing it as "an important moment on its path to creating the world's largest smart container fleet". On Monday (23 October), at the company's headquarters in Hamburg, Germany's Federal Minister of Digital and Transport, Dr Volker Wissing, personally installed the device on a container. Wissing stated, "Digitalisatio
Port of Rotterdam reports container decline in 2023 so far The Port of Rotterdam has handled 10.2 million TEUs in the first nine months of 2023, translating to a 7.2% decline compared with the same period last year. Additionally, the Dutch port has moved 329.9 million tonnes, compared to 351 million tonnes in the same months in 2022. "Global demand for freight is still lower than in 2022 as a result of inflation, limited economic growth, geopolitical ten
Cyclone threat closes Oman's Salalah Port Salalah Port, Oman's major cargo gateway and a notable transshipment hub for the West Asia region, halted operations yesterday (22 October) until further notice in the wake of a severe storm heading towards the southern part of the country. According to the latest weather reports, Cyclone Tej is expected to make landfall along the coast late on 24 October or early 25 October. According to contain
Container trade trends tricky to assess Covid-19 and Russia's invasion of Ukraine have affected container shipping, but have made it more difficult to determine growth dynamics, according to Clarksons' latest weekly report. Particularly, as mature economies regress, growth is focused on Asia and emerging markets. Container trade grew by around 4% year-on-year in the second half of 2020, powered by pandemic-induced bottlenecks and e-com
ONE accelerates digitalization by carrying out e-BDN adoption trial Ocean Network Express (ONE) is accelerating its digitalization efforts with the latest successful trial with Shell, with assistance from the Maritime and Port Authority of Singapore (MPA), for the adoption of the electronic Bunker Delivery Note (e-BDN). The e-BDN trial, which used Angsana Technology's digital bunkering technology, took place on 9 September 2023, in the Port of Singapore. As part
Port of Oakland partners with state and Japanese trade officials to cut shipping emissions Port of Oakland leaders joined the Port Decarbonisation & Green Shipping Corridor Symposium in order to discuss the important work being done to reduce greenhouse gas footprints globally and locally. Port of Oakland executive director Danny Wan addressed port industry colleagues on the latest projects being implemented at Oakland to significantly cut carbon emissions from port and maritime shippi
Mawani and SGP sign agreement for logistics park construction The Saudi Ports Authority (Mawani) and Saudi Global Ports (SGP) have inked a deal to build a fully logistics park spanning over 1 million m² at King Abdulaziz Port in Dammam, with an investment nearing one billion Saudi Riyals (US$266 million). Eng. Saleh bin Nasser Al-Jasser, Saudi Arabia's Minister of Transport and Logistics Services and chairman of the board of directors of the Saudi Ports Aut
CyberLogitec starts providing data integration services via SmartLink CyberLogitec, a subsidiary of EUSU HOLDINGS that is a provider of maritime, port/terminal, and logistics technologies, has announced the launch of offering Data Integration services via SmartLink, in line with the current industry trend of transitioning to online trade transactions via blockchain-based electronic bill of lading processes. According to CyberLogitec, when firms start on automation
DP World signs 30-year concession with Tanzania Ports Authority to operate Dar es Salaam Port DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) in order to operate and modernise the multi-purpose Dar es Salaam Port, connecting Tanzania and the wider region to global markets. The concession to operate and modernise the Dar es Salaam Port was awarded to DP World with the primary target of optimising the port's operations to improve transport and logi
From LA to Shanghai, ports, cities and box lines partner to reduce emissions Concerns about climate change have prompted businesses all around the world to reconsider their shipping tactics. Companies in the supply chain industry are changing their procedures to satisfy demand as customers become increasingly interested in sustainable solutions. A partnership of leading maritime goods movement stakeholders, including the Californian ports of Los Angeles and Long Beach and
NWSA boosts TEU volumes in September Container volumes at the US ports seem on an upward trend with the Northwest Seaport Alliance (NWSA) reporting the highest monthly total so far this year in September. Similarly, the port of Long Beach on the West Coast of the United States announced the best September in history in terms of box volumes. "Consistent vessel arrivals along with increased intact intermodal rail volumes led to the st
Kuehne+Nagel opens new air logistics hub in France Kuehne+Nagel France has inaugurated a new air logistics hub at the heart of Cargo City at the Paris Charles de Gaulle airport. The hub has a capacity to handle 300 air freight pallets a week. Its processing surface is 2.5 times larger than the previous space and has direct access to runways. Moreover, Kuehne+Nagel continues to increase its healthcare cargo capacities in Paris by dedicating 4,500
Finding it hard to talk Steven Jones, founder of the Seafarers Happiness Index, on the worrying trend among seafarers who are finding it hard to properly talk with each other. One of the common threads of the Seafarers Happiness Index has long been the strength of the bonds between those at sea. Over the years, crews have spoken at length ...
Castor ships out pair of panamax bulkers Cyprus-based bulker and boxship owner Castor Maritime is selling two of its panamax dry bulk ships for an aggregate of $20.55m. The Nasdaq-listed owner, with a current fleet of 20 vessels, is offloading the 20'1-built Magic Sun and the 2008-built Magic Phoenix for $6.55m and $14m, respectively. Both vessels are expected to be delivered to ...
Diana Shipping makes offshore wind vessels play New York-listed Greek bulker owner Diana Shipping has signed a term sheet to take part in a joint venture that is expected to own and operate offshore wind vessels. In the initial phase of this collaboration, the jv entity has ordered two commissioning service operation vessels (CSOVs) from Norwegian shipbuilder VARD with an option for ...
PSA's SGP inks $267m Saudi logistics zone deal The Saudi Ports Authority (Mawani) and Saudi Global Ports (SGP), a subsidiary of Singapore's port operator PSA, have signed an agreement for a new integrated logistics zone spanning over 1m sq m at King Abdulaziz port in Dammam. SGP, which operates two container terminals at King Abdulaziz port, will invest nearly SAR1bn ($267m) in the ...
Saipem taps Petrofac for North Sea decommissioning work UK offshore services firm Petrofac has won a new multi-million-pound deal with Saipem to support the decommissioning of a platform in the UK sector of the North Sea. Under the contract, the companies will work as an integrated team to prepare and remove the 20,000-tonne topside using the Saipem 7000, one of the largest semisub ...
Chevron buying US oil company Hess for $53bn US oil major Chevron announced has entered into a definitive agreement with compatriot Hess Corporation to acquire all outstanding shares of the company in an all-stock transaction valued at $53bn. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The acquisition consideration is structured with 100% ...
Frangou closes Navios Holdings take private deal with sweetened offer Angeliki Frangou has sealed a deal to take US-listed logistics company Navios Maritime Holdings private. Frangou, via its affiliate N Logistics Holdings Corporation, is paying $2.28 per share it does not already own - a premium of about 43% to the closing price of Navios Holdings's common stock on September 12 - the last trading ...
Intellian and Inmarsat developing next-gen maritime safety terminal Satellite communications tech provider Intellian Technologies and Viasat-owned Inmarsat Maritime have signed a Memorandum of Understanding (MoU) for the development of a next-generation global maritime distress and safety system (GMDSS) terminal. The new safety terminals will become the standard Inmarsat Maritime product for the next-generation fleet safety service and will be designed for operat
No suezmax newbuild slots left in China for 2026 London-headquartered broker Gibson is reporting that there are now no suezmax newbuild slots left in China for 2026. "As a result," Gibson stated in a recent report, "we are seeing a number of owners spar with the Korean/Japanese yards on what pricing can really be achieved for deliveries across 2026." In South Korea, yards would ...
Røkke gets onboard Solstad Offshore refinancing Norwegian offshore shipping company Solstad Offshore has struck a refinancing deal, which will see the establishment of a new parent company controlled by Kjell Inge Røkke-dominated Aker. Oslo-listed Solstad said in a filing that an agreement has been reached with Aker, AMSC, DNB and Eksfin for NOK9.7bn ($879.5m) worth of loans to fully refinance the ...
Chinese iron ore inventories slip below 100m tons Iron ore port stocks in China have slipped to below the 100m ton mark for the first time since September 2020, but an armada of big bulkers heading from Brazil and Australia suggests this low point will pass quickly. Inventories of iron ore peaked in February 2022 at 144m tonnes and have been unwinding ever ...
Strike shuts down St Lawrence Seaway St Lawrence Seaway workers began strike action on Saturday night just before midnight after negotiations failed to reach a satisfactory agreement. Canada-based union Unifor said that it "made the difficult decision to go on strike" and walked off the job at 13 Canadian locks. A 72-hour strike notice was officially filed on October 18, and ...
Record volume of cases rain in at the Federal Maritime Commission The Federal Maritime Commission (FMC) in Washington DC is having to handle a record number of cases. The latest complaint comes not from a shipper but from China's BAL Container Line, which has taken SSA Marine Terminal to task over its decision to levy congestion surcharges. "Complainant alleges these violations arose from an assessment of ...
Chinese boxship becomes focus of Baltic pipeline damage probe A Chinese containership is at the centre of a Finnish inquiry into possible sabotage of the Balticonnector gas pipeline linking Finland and Estonia. Earlier this month, a subsea gas pipeline and a telecoms cable connecting the two countries over the Baltic Sea were damaged, in what Finnish investigators said may have been a deliberate act. ...
PGS wins transfer fees dispute over data license agreements An English arbitration tribunal has ruled in favour of Norwegian seismic player PGS regarding a dispute over transfer fees under several data license agreements. In 2022, PGS recorded revenues of approximately $30m of transfer fees relating to a change of control event under several data license agreements, where the amount was still not agreed with ...
Winners and losers from lifting of sanctions on Venezuela Suezmaxes and aframaxes look set to be the beneficiaries of last week's announcement that the US will ease sanctions on Venezuelan oil, though analysts remain divided on whether the development is good news for the tanker sector as a whole. The US has issued a six-month license authorising transactions in Venezuela's oil sector after Venezuelan ...
Vincent Toe stepping down from Yangzijiang Financial CEO role The chief executive officer (CEO) of Singapore-listed Yangzijiang Financial, Vincent Toe, has decided to leave the company in six months' time on an effective date of April 24, 2024. Toe will remain at the helm for the next six months to provide continuity during the transition period and ensure the smooth running of the company's ...
Chinese-built capes commanding big numbers A rare finding has emerged in this weekend's broker reports that are still filled with cape sales, creating an atmosphere where positivism rules. This week, Chinese-built tonnage is being sold at the same level as Japanese-built tonnage was sold at the beginning of the month. The cape deal of the week was completed by Greek owner Alassia ...
Stonepeak buys Textainer Infrastructure investor Stonepeak is spending big to take over container lessor Textainer. Textainer investors will receive $50 a share in cash, valuing the company at about $2.1bn. Factoring in Textainer's debt, the deal is worth about $7.4bn. The move follows on from the news in April when Toronto-based Brookfield Infrastructure Partners bought Triton International, the ...
DP World takes over the running of Tanzania's largest port DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernise the multipurpose Dar es Salaam port, the country's largest port, in a deal that has been making headlines for months. DP World will initially invest more than $250m to upgrade the port and the investment could increase ...
Yangzijiang Financial CEO resigns after two years Singapore investment manager Yangzijiang Financial Holding says its CEO is leaving after two years. It is axing its chief investment...
Strike shuts St Lawrence Seaway Workers at 13 Canadian locks of the St Lawrence Seaway began a strike on Sunday as negotiations with St Lawrence...
Singapore to choose lead developer for ammonia power plant Singapore's energy and port authorities have shortlisted six consortia in plans for a power plant fuelled by ammonia
Higher Indian coal imports could boost capesize trade Capesize rates could continue to rise until the end of the year on the back of falling coal inventories at...
Inaccurate or contradictory fuel consumption data risks CII disputes Non-EU shipowners face difficulties in starting EU ETS operations due to a lack of detailed guidance
United Maritime closes in on Chinese leasing deals for veteran capesizes As well as bypassing the Poseidon Principles, the deal also reflects Chinese leasing companies' willingness to provide more 'flexibility' as...
Extra premiums for Israel marine war risk kick in Underwriters quoting case by case, with discounts sometimes available for shorter stays and some suggesting low enquiry
P&I insurer warns on fraudulent seafarer medical certificates Medical examination certificate scheme is designed to ensure crew meet higher standard of fitness than regulatory minimum
Container market to face overcapacity until 2028 at earliest Box shipping has entered one of its cyclical phases of overcapacity. Lessons from the past indicate it will not dissipate...
The week in charts: Bulk carrier values rising | Rough waters ahead as carriers try to restore rates | EU ETS tax explainer Box lines will look for any opportunity to lift profitability, vessel turnover at Israeli port of Ashdod slows, containership asset...
Frangou clinches deal to acquire Navios Holdings South American logistics is main focus for company that will now be taken private, but Navios entity also owns a...
Rotterdam bunker sales at three-year low in third quarter The world's second-biggest bunkering hub recorded a sharp fall in marine fuel sales, with very-low sulphur fuel oil posting the...
Russia targets Odesa port in overnight drone strike The Kremlin's forces continue to target Odesa while Ukraine works to normalise trade at its Black Sea ports
DP World wins Dar es Salaam concession Tanzania has been seeking outside investment to improve its logistics infrastructure. Deal will see DP World take over four berths...
Daily Briefing A little less conversation, a little more action please | Limited Venezuela crude output tempers tanker upside | Zim imposes...
Automakers resort to shipping cars in containers amid ro/ro capacity shortage Ports in the US are reporting an unusual spike in the number of cars crossing their docks in containers, rather than via roll-on/roll-off vessels.
Trans-Pac ships tapping Lázaro Cárdenas amid Panama draft limits Mexico's second-largest port is being added as regular and irregular call to trans-Pacific services due to draft restrictions and increasing availability of intermodal rail.
Rotterdam container volume decline continues through Q3 A weak regional economy in which increasing demand for services is cutting into consumer goods spending, high inflation and rising geopolitical tensions are dragging on containerized trade through Europe's largest port.
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 versus 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.
'Performing well': Matson expects earnings to slide, but not as far as analysts predict Container liner operator expects third-quarter profit to fall by half
US holiday shipping rush 'already baked in' for liner operators, retail guru says US consumers change shopping behaviour due to pandemic, National Retail Federation's Matthew Shay says
Tycoon Kjell Inge Rokke takes over Solstad Offshore in $875m refinancing with DNB and AMSC Aker group chief will have 57% of new company created to solve challenging debt restructuring questions
Diana Shipping enters offshore wind vessel sector through joint venture Two CSOV newbuildings ordered from Fincantieri's Norwegian shipbuilder Vard
Marine underwriters put growing Ukraine-Russia war risk into perspective CJC managing associate says Ukraine conflict is a turning point
Alassia NewShips Management sells sole capesize in rising market Greek player fetches juicy price for one of its oldest bulkers, right after ordering a batch of smaller ones
Angeliki Frangou pays extra to secure take-private deal for Navios Holdings Company controlled by CEO now paying 43% premium to share price before transaction was announced
World shipbuilding leaders meet for the first time since Covid China hosts so-called JEKU meetings for state of the industry talks
CM Lemos tanker identified as Herbjorn Hansson NAT's latest suezmax buy in $72m deal Transaction comes as Greek company accelerates its entry into LR2 product tankers
CM Lemos tanker identified as NAT's latest suezmax buy in $72m deal Transaction comes as Greek company accelerates its entry into LR2 product tankers
Braemar brings in banker Danny Siew to expand corporate finance foothold in Singapore UK shipbroking group says experienced financier has handled asset-backed financing, S&P and restructuring deals during long career
Trafigura adds extra liquidity in $2.7bn Asian refinancing with banking group A total of 30 financial institutions agree new revolving credit facility and term loans
Evergreen teams up with Copenhagen Infrastructure Partners to explore hydrogen-based fuels for its fleet Taiwanese shipowner makes major move down the road to decarbonising 200 ships
Clarksons to list £2.5m in new shares for employee reward schemes UK shipbroker says up to 100,000 shares will be issued to staff from time to time
Italy's UniCredit seeks stake in Greek shipping lender Alpha Alpha Bank has found a new strategic partner in what could be a transformative deal
P&I broker Wilson Europe calls for underwriting discipline ahead of renewal Mutual insurers' results are improving, but there is still work to be done says Julian South
Clarksons to list £2.5m of new shares for employee reward schemes UK shipbroker says up to 100,000 shares will be issued to staff from time to time
Italy's UniCredit moves to buy stake in major Greek shipping lender Alpha Bank has found a new strategic partner in what could be a transformative deal
Thenamaris suezmax reportedly heading for Israel's Red Sea port after closure of Ashkelon Traders report government can still bring in oil shipments despite disruption caused by war with Hamas
P&I broker Wilson Europe calls for underwriting dicipline ahead of renewal Mutual insurers' results are improving, but there is still work to be done says Julian South
Evergreen teams up with CIP to explore hydrogen-based fuels for its fleet Taiwanese owner makes major move down the road to decarbonising 200 ships
BW Epic Kosan logs bigger profit as J Lauritzen and others launch take-private offer Trading update replaces full financial report with LPG carrier set to disappear from Oslo bourse
PGS to bank $40m in London arbitration award over disputed data deals Norwegian shipowner has second arbitration case ongoing
Tycoon Kjell Inge Rokke takes over Solstad Offshore in $875m refinancing with DNB and American Shipping Aker group chief will have 57% of new company created to solve challenging debt restructuring questions
Two shipowners shortlisted for Poland's first FSRU newbuilding Some famous floating regasification names miss out on business
Tycoon Rokke takes over Solstad Offshore in $875m refinancing with DNB and American Shipping Aker group chief Kjell Inge Rokke will have 57% of new company created to solve challenging debt restructuring questions
RCL shifts old container ships onto ship breakers ahead of newbuilding deliveries Old Shipping Corp of India product tanker sold in August also heading for Alang under the Tanzanian flag
Stonepeak snares container lessor Textainer for $50 per share Deal for US-listed company concluded at over 40% premium to Friday's closing price
RCL shifts old container ships onto shipbreakers ahead of newbuilding deliveries Old SCI product tanker sold in August also heading for Alang under the Tanzanian flag
CEO set to leave Yangzijiang's Singapore-listed ship leasing arm Company has also removed chief investment officer roles for China and Singapore
Kuehne+Nagel deploys private freighters to Taiwan for chip industry The semiconductor industry is a new vertical that logistics provider Kuehne+Nagel has identified as a growth area. Toward that end, it is using two large freighters it controls to transport shipments from Taiwan to Europe.
Amerijet turns tables on Korean Air for opposing commercial permit Amerijet, a mid-tier cargo airline based in Miami, is trying to block a startup operator of business jets owned by Korean Air from gaining flight access to the U.S. because it says the Korean flag carrier is undermining its expansion into Korea.
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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