Two Turkish-owned ships hit in Russian attack on Kherson Video posted on social media shows flames racing through the superstructure of a 3,943 dwt, 1980-built general cargo ship, the Tuzla, yesterday, after a Russian attack on the Ukrainian port of Kherson.
Susan W. Dio joins Kirby board Houston-headquartered Kirby Corporation (NYSE: KEX), the largest tank barge operator in the U.S., has appointed Susan W. Dio to its board, effective January 24, 2023, expanding it to ten directors, nine of
MSC and Maersk will end 2M alliance In a move that will cause few tears to be shed by those who think the liner shipping industry is far too cosy, anyway, container shipping giants Mediterranean Shipping Company (MSC) and
FTA grant puts more NY Waterway ferries on the path to all-electric operation U.S. Senators Bob Menendez and Cory Booker (both D-N.J.) said yesterday that a total of $11,298,010 million in federal transportation grants is being made to two New Jersey ferry operations through the
Historic methanol bunkering operation carried out in Sweden The methanol-powered Ro-Ro and passenger vessel Stena Germanica became the first non-tanker vessel in the world to be bunkered with methanol ship to ship at the Port of Gothenburg in Sweden on 24 January. Until now, Stena Germanica has been bunkering methanol solely from trucks. "The key to success is working together over the full value chain to find a pragmatic and safe approach for implementin
Hapag-Lloyd buys share in India's terminal and inland transportation service provider Hapag-Lloyd signed a binding agreement today (25 January) to acquire a 35% stake in J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate. Furthermore, the German shipping company inked a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd's shareholding to 40%. The contracting
CMA CGM introduces new rail service in Indonesia French carrier CMA CGM has announced a new rail service solution for export cargo from Semarang and Surabaya in Indonesia to worldwide destinations via the Jakarta gateway with an intermodal transit time of one day. The company noted that the new offering, which is expected to commence in February, will provide coverage of Jababeka and Cikarang dry port in less than one day for cargo exports and
Investigation for Beirut explosion resumes, top security officials charged Judge Tarek Bitar reopened suddenly the investigation of the 2020 Beirut explosion and charged top security officials, according to Reuters, with the charges remaining unspecified yet. On 4 August at the port of Beirut in Lebanon, an explosion killed 200 people and injured thousands. The decision was made on Monday 23 January, more than a year after the investigation was frozen due to political o
Boxship demolitions hit 17-year low in 2022 due to record rates Just six container ships were sold for recycling in 2022, as historically high freight rates saw demolitions sink to a 17-year low. Alphaliner's latest report released today (25 January) stated that the six scrapped vessels totalled just 10,600 TEUs. Boxship demolitions in 2022 were lower than the 16,500 TEUs scrapped in 2021, and a drastic decline from the nearly 200,000 TEUs recycled in 2020. R
Microsoft and Overhaul partner on supply chain visibility projects Overhaul, a software-based company launched in 2016 and headquartered in Austin, Texas, is a supply chain visibility provider and one of Microsoft's new partners on its tools, Microsoft Supply Chain Center and Microsoft Supply Chain Platform, aiming to improve visibility, predictability, and resilience for global, multimodal supply chains. According to Forrester, a worldwide market research organ
Deployed capacity drops sharply in CNY 2023 Five weeks ago, Sea-Intelligence analysed the scheduled East/West capacity for the four-week 2023 Chinese New Year (CNY) period. The results have shown that the 2023 CNY capacity is going to be higher than in past years, despite the slowdown in demand. Sea-Intelligence's analysts noted that carriers will be able to bring capacity back in line with the historical levels. Source: Sea-Intelligence.c
Maersk and MSC to terminate 2M alliance in 2025 2M alliance will no longer exist after two years as its members, MSC and Maersk, have mutually agreed to terminate its partnership in January 2025. In a joint statement, the chief executive officers of Maersk and MSC, Vincent Clerc and Soren Toft, commented, "MSC and Maersk recognise that much has changed since the two companies signed the 10-year agreement in 2015. Discontinuing the 2M alliance
General cargo ship sinks off Japan's coast, nine crew missing Thirteen crew members were rescued on 25 January from the general cargo ship Jin Tian, which sank in the East China sea, while the other nine seafarers remain missing at the time of writing. The cargo ship with a carrying capacity of 9,784 tonnes DWT sank some 75 nautical miles south of Jeju island, South Korea, on the morning of 25 January around 02:25 (Seoul time), while it was sailing from Van
Boxship overturns and sinks in Iranian port The 1989-built container ship Anil capsized and sank in Asaloyeh port in Iran on 24 January during cargo operations and as a result, several containers fell at sea and were afloat in the harbor. The official IRNA news agency reported the vessel overturned because boxes were configured incorrectly at the port's dock No. 9. According to Maritime Bulletin, the twelve crew members of the boxship are
Hapag-Lloyd takes stake in India's J M Baxi Ports & Logistics Germany's Hapag-Lloyd continues to expand its terminal portfolio with an ownership stake in one of India's leading private terminal and inland transport service providers, J M Baxi Ports & Logistics. The Hamburg-based liner is buying 35% of the business from a Bain Capital Private Equity affiliate and has also struck a deal with J M ...
Steimler stepping down at NYK Group Europe Svein Steimler, president and CEO of NYK Group Europe, is retiring after 27 years with Japan's Nippon Yusen Kaisha (NYK). Before joining NYK in 1996, the Norwegian shipping veteran had worked for a number of shipbroking and shipowning companies, including for fellow shipowner magnate John Fredriksen. Former Stena Rederi CEO Carl-Johan Hagman, who also served ...
Diana Shipping offloads ageing capesize for $15m New York-listed Greek bulker owner Diana Shipping has sold its 2005-built capesize for $15.08m to an unaffiliated third party. The Marshall Islands-flagged 180,200 dwt bulker, VesselsValue estimates as worth $15.77m, will change hands by February 28, 2023. The ship has been on charter with Koch Supply and Trading's Singapore-based chartering arm Koch Shipping since February ...
AD Ports links up with leading Turkish steel producer Abu Dhabi's AD Ports Group has signed a memorandum of understanding with Tosyali, one of Turkey's largest private steel producers, to collaborate on a broad range of shipping, logistics, ports, and freight forwarding services. The deal includes the potential for joint investment in new port facilities to support Tosyali's export operations. AD Ports said the ...
Socatra lines up MR2 tanker for rotor sail treatment French shipowner Socatra has contracted Finnish marine wind propulsion system designer Norsepower for the retrofit installation of two rotor sails on the 2022-built MR2 tanker . The 50,000 dwt ship, currently on charter with TotalEnergies, will be fitted with two 35'5 m units in Q4 2023 or Q1 2024. Norsepower said the installation should allow ...
Atlantica Shipping bolsters offshore fleet Oslo-based diversified shipowner Atlantica Shipping has expanded its offshore fleet with an addition of a 2005-built platform supply vessel . The 3,300 dwt medium-sized PSV, formerly known as Energy Scout was picked up from Golden Energy Offshore Services (GEOS) for $6.45m and delivered in Aberdeen earlier this month. Fearnley Securities acted as the sole arranger ...
TechnipFMC scores Petrobras subsea deal worth up to $500m Subsea giant TechnipFMC has won a master services agreement worth up to $500m with Petrobras in Brazil. The three-year contract with option to extend for a further two years will see the New York-listed company provide life-of-field services to support its installed base offshore Brazil. The contract covers installation, intervention, and maintenance of both equipment ...
DOF wins long-term AHTS contract in Brazil Norwegian offshore vessel owner and operator DOF has won a long-term charter contract from Brazil's Petrobras for one of its anchor handling tug supply vessels. The 2010-built , owned by DOF's Norskan Offshore unit, has been fixed for four years with Petrobras holding an additional one-year option. The contract should start in the third quarter ...
Liner alliances up in the air as MSC and Maersk give separation notice Liner shipping is ready for an immense scrap as it braces for a downturn with the fabric of its alliance structure now under severe strain. Maersk and Mediterranean Shipping Co (MSC), the world's two largest containerlines, have confirmed widespread rumours, announcing today they have mutually agreed to terminate, effective January 2025, the 2M alliance, one ...
Integrated Wind Solutions adds to CSOV orderbook Awilco affiliate Integrated Wind Solutions (IWS) has booked two more two walk-to-work commissioning service operations vessels (CSOV) at China Merchants Industry Holdings for delivery in Q2 2025. The latest order, worth €105m ($114.2m), will take the IWS fleet to six identical Skywalker class vessels, with options secured for an additional two CSOVs. Meanwhile, changes to ...
Top of the cycle round the corner for car carriers After a record 2022, earnings for car carriers are close to topping out ahead of an "armada" of newbuilds due to come on stream from next year, according to new analysis from VesselsValue. By the end of 2022, VesselValue's one-year time charter index for 6,500 ceu ships had climbed by 200% to a record $103,000 ...
More work for Eneti's Seajacks vessels Monaco-based owner and operator of offshore wind vessels Eneti announced that its subsidiary Seajacks has landed new contracts and extensions for its self-propelled jackup vessels. Two new contracts worth between $5.7m and $7.1m have been secured for one of the NG2500-class vessels. The work is in Northwest Europe and will keep the unit busy for ...
Livestock carriers to be auctioned in Singapore Upon the application of unsecured creditor KPI OceanConnect, the Singapore High Court has appointed Deloitte as liquidator of Cattle Line Two, the company which owns two long idle livestock carriers, the Barkly Pearl and Diamantina. The ships will now be put up for auction. Talks are ongoing with secured creditor UOB, a local bank, over the ...
Splash Extra: Tokyo switches off the JOLCO tap Japanese Operating Lease with Call Option financing structures, known as JOLCOs, will soon become unavailable to foreigners seeking newbuild finance in a set of tax reforms to be unveiled by the government in Tokyo, according to today's lead story in the January edition of Splash Extra. The loss of JOLCO finance comes at a time ...
PGS picks up its first offshore wind contract Oslo-listed seismic player PGS has won its first wind farm site characterization project, marking its entry into the offshore wind market. The survey will cover two European wind farm sites, both of which are in the development phase. PGS said it would mobilise a 3D vessel for the project in early April 2023, with the ...
Gothenburg celebrates landmark methanol fuelling moment The rapid rollout of landmark methanol fuelling moments continues with news from Sweden where the world's first methanol ferry, the , has become the first non-tanker to successfully complete ship-to-ship methanol bunkering. The operation took place earlier this week at the port of Gothenburg with fuel provided by Methanex Corporation. "As the world's largest producer ...
Chinese ship grounds on the edge of Japan's largest coral reef A Panamanian-flagged general cargo ship grounded early yesterday morning in stormy waters on the edge of Japan's largest coral reef to the far south of the country. The Chinese-owned, 13,567 dwt lost power between Ishigaki and Kohama Island in Okinawa Prefecture on Tuesday morning. The Japanese coast guard were able to airlift the 19 crew ...
Former Lebanese PM faces homicide charge over Beirut port blast Former Lebanese prime minister Hassan Diab has been charged with homicide with probable intent over the devastating Beirut port explosions in 2020 that killed at least 218 people. Tarek Bitar, a Lebanese judge investigating the explosions, has also charged Abbas Ibrahim, chief of Lebanese General Security, state security director Major General Tony Saliba, and former ...
Up to 9 feared dead as ship sinks off South Korea Up to nine crew are feared dead after the Hong Kong-flagged 6,551 dwt general cargo ship sank in icy, windy waters between South Korea and Japan early this morning. South Korean and Japanese coast guard vessels and aircraft as well as two commercial ships have been combing the area south of Jeju Island today, managing ...
JOLCOs face changes Another important tranche of Asian ship financing is coming under pressure. The Japanese government has announced plans to tinker with the country's Japanese Operating Lease with Call Option financing structures, known as JOLCOs, a market which had been fast expanding, fixing more than $4bn in deals last year. In recent years, the number of cross-border ...
Be patient when it comes to maritime tech We cast our net wider than ever for Splash's annual maritime tech preview this month - hence the decision to split it into two: breakthroughs and disappointments. Condensing the thoughts and opinions of more than 100 respondents was not an easy task, but if I was to strip out the key takeaways from the experts ...
January 2023 Review More extraordinary twists and turns were registered in the Euronav takeover saga. As it stands today, Euronav's largest shareholder, the Saverys family, wants to fire the full board, and the board itself is suing the second largest shareholder, John Fredriksen, after he pulled the plug on the tanker merger plans with Frontline earlier this month. ...
Tankers: Janus has two faces Oil prices have ticked up slightly in January with Brent moving from around $85 to $87 in the first three weeks of January and WTI rising from around $76 to $81 over the same period. As Asia celebrates Lunar New Year, oil futures are ticking upwards as traders bet on Chinese demand picking up as ...
Crouching capesize, hidden rabbit If any shipping market is going to be affected by Lunar New Year, the bulk carrier freight market is it. Brokers reported markets to be "eerily quiet" with minimal fixing activity in the days leading up to the holidays. There is nonetheless hope that a recovery in Chinese economic activity - particularly urbanisation - will ...
Back to the future for containers Has the container shipping freight market bottomed out finally? One way to think about it is to look at consumer spending habits. These are holding up remarkably well in the US where the labour market is firm and Main Street is doing rather better than Wall Street where bank layoffs are biting hard. In Europe ...
Analyst Abstract Tankers The beginning of 2023 has seen the wet market wobble as the BCTI has lost around 66% within the 20 first days of January and the BDTI has also fallen about 25% in the same period. "Lots of voices of concern are rising about the wet market, and the tanker S&P market, but panic ...
Ice is nice Ice-class tankers led the way this month with stunning prices paid for any available tonnage, regardless of age. Thenamaris's 2007-built Seamagic aframax reportedly conjured a magical $47m out of the hat. In a comparable deal to show how much the price has gone up for ice-class tonnage, in late November Thenamaris sold another ship with ...
Avangrid appeals approval of power purchase agreements for Commonwealth Wind project On December 30th, the Massachusetts Department of Public Utilities (DPU) denied Avangrid's request to renegotiate the power purchase agreements (PPAs) it had agreed to in May 2022. Avangrid had claimed that, without concessions from the electric distribution companies (EDCs), the project was economically unviable. The company has now filed a notice of appeal to challenge the ...
New report lays out road map for comprehensive US offshore wind supply chain The Business Network for Offshore Wind, the National Offshore Wind Research & Development Consortium (NOWRDC), the National Renewable Energy Laboratory (NREL) and several other organisations have released a report, A Supply Chain Road Map for Offshore Wind Energy in the United States, that identifies how the US can develop the domestic supply chain required to achieve ...
GMT Hull portfolios well behind decarbonisation trajectories Scores for insurers worse than scores for banks, say sources, but highlight differences in methodology that they say make direct...
Will box shipping's big break-up bring heartbreak to the sector? The latest iteration of alliance partnerships emerged during a period of strain. The demise of its largest power couple could...
GasLog launches merger bid for GasLog Partners Merger would create a combined fleet of 38 LNG carriers
Hapag-Lloyd acquires stake in Indian terminal and logistics firm Hapag-Lloyd continuing to deliver on its strategy to expand its terminal footprint with the acquisition of a substantial stake in...
Asian crew changes get tougher as China ends zero-Covid policy Ending of China's zero-Covid policy creates logistical nightmare, according to Intermanager
US investment manager moves into LNG bunkering Seaside LNG has a 50% ownership stake in a liquefied natural gas liquefaction facility in Jacksonville, Florida, and a 100%...
Boxship charter periods shorten as rates face pressure for larger tonnage Charter periods have averaged six to seven months since the fourth quarter of 2022, compared to 26 months in the...
Steimler to step down from NYK Svein Steimler was a trailblazer in opening up Japanese shipping to European management. He will be replaced by former Stena...
Cargoships damaged during attacks on port of Kherson Two general cargoships were hit in Kherson during an attack
Forwarders urged to understand and address emissions Forwarders are under pressure to show efforts made to lower their carbon emissions. BIFA hopes to make this easier for...
Oaktree reduces stake in tanker owner Hafnia Shareholding reduced to 4.97% after successful private placement of 25.2m shares
Two dead after cargoship sinks off Japan, nine people missing A distress signal from the 2010-built vessel, which was carrying timber, was received late on January 23
NorthStandard will overtake Gard, says Roppestad Norwegian marine mutual giant does not attach importance to top slot, and impending merger of two British entities should spur...
2M alliance to end as Maersk and MSC part ways 2M emerged at a time of crisis for container shipping. Its two members are now large enough to go it...
Guangzhou shipyard gets PCTC orders from BYD and H-Line The four newbuildings will be equipped with LNG dual-fuel propulsion systems
Daily Briefing IMO number declared invalid after fatal explosions on UK-insured tanker linked to vessel identity fraud | Vehicle carrier orderbook hits...
Kirby appoints former BP Shipping chief to board Appointment reflects company's commitment to 'ongoing board refreshment and focus on adding diverse perspectives and experience', says chairman
Freightos goes public on NASDAQ in first measure of logistics tech value Freightos' public listing on the NASDAQ will be the first test of how public investors value one of the more prominent logistics technology companies to emerge over the past decade.
MSC, Maersk to end 2M Alliance amid divergent strategies on ocean capacity The move raises questions whether the carriers will seek new alliance partners, potentially setting off another round of musical chairs involving the other two networks, THE Alliance and the Ocean Alliance.
US spot flatbed capacity rising as housing starts, manufacturing decline Demand for flatbed trucks on DAT Freight & Analytics' spot load boards is at a seven-year low for January, creating excess capacity that is keeping pressure on rates.
Hapag-Lloyd buys large stake in Indian ports operator J M Baxi Hapag-Lloyd's focus on port-to-port shipping includes pursuing ownership stakes in marine terminal operations, with the acquisition of a 40 percent share of Indian ports operator J M Baxi the latest example.
WiseTech makes US drayage play with acquisition of Envase WiseTech Global, owner of the most widely used forwarding software product, has acquired a prominent vendor of drayage management software, capping a year of takeovers for the company.
Maersk, MSC to end 2M Alliance in 2025, citing 'individual strategies' The move raises questions whether the carriers will seek new alliance partners, potentially setting off another round of musical chairs involving the other two networks, THE Alliance and the Ocean Alliance.
Shippers allege smoking on board caused fire and cargo damage on bulker Three US companies have filed several lawsuits against Chinese firms an a US port operator over damaged goods
Diana Shipping sells oldest capesize bulker for $15m New York-listed owner now has nine capesizes that were built between 2007 and 2022
Norsepower secures second tanker rotor sail deal Finnish wind propulsion pioneer has retrofitted six vessels over the past decade
FuelEU 2% green fuels sub-quota for shipping too low say lobbyists Brussels-based Transport & Environment (T&E) agues for exemption on smallest shipowners to be dropped
Svein Steimler to retire after 27 years at NYK, remain active with Knutsen and port ventures Former Stena Rederi chief executive Carl-Johan Hagman will take over his role leading NYK Group Europe
Best time to buy ships is 'when nobody would lend you money', Tsakos says Greek owner argues that it also helps to have no competition around when expanding a fleet
Idan Ofer vehicle Kenon Holdings trims position in liner giant Zim Outfit has pulled back since March but remains largest holder in New York-listed operator
MSC snaps up what was once world's biggest boxship from Maersk Iconic 9,600-teu Sovereign Maersk changes hands for undisclosed price
Livanos launches $398m bid to complete private buy-backs of GasLog LNG firms Regulator filing says the offer is for $7.70 per share, including a $2.33 per share dividend
Greek and German shipowners in talks as maritime agenda heats up Heads of powerful associations 'see eye to eye' on major issues
Svein Steimler to retire after 27 years at NYK, remain active with Knutzen and port ventures Former Stena Rederi chief executive Carl-Johan Hagman will take over his role leading NYK Group Europe
Container ship scrapping hit 17-year low in 2022 but owners now have no choice Alphaliner believes there is no other option than recycling for many ships in weaker markets
Older car carriers more than double in value as Hoegh and Ofer cash in VesselsValue details remarkable rise in secondhand prices as market booms
Worn extension cable caused huge fire on NSC bulker in Sweden Accident probe recommends action is taken to resolve 'ambiguities' around bringing distressed vessels into port
Euronav silent as S&P interest swirls around world's second-biggest tanker Industry sources report talk around potential sale of ULCC Oceania, three months after disposal of sister ship Europe
Polembros offloads its oldest crude carrier at a juicy price Another day, another profitable tanker sale by a Greek owner
Awilco-backed IWS orders more CSOVs and plots $35m share sale Offshore wind vessel owner adds to orderbook as it seeks extra funds to finance fleet
MSC and Maersk to disband huge 2M liner alliance in 2025 Biggest container carriers to go their own way after roller coaster ride for box freight markets and as strategies diverge
Breakpoint: MSC and Maersk to disband huge 2M liner alliance in 2025 Biggest container carriers to go their own way after roller-coaster ride for box freight markets as strategies diverge
Koch extends deal for 2020 Bulkers newcastlemax for up to 18 months Tor Olav Troim-backed owner reveals third new charter deal this month
Boxes float free as container ship capsizes and sinks in Iran Mysterious vessel named as the Anil is also listed as an LPG carrier in some shipping databases
US doubles down on sanctions warnings over record Iran oil exports State Department cites crackdown on Chinese companies in 2022 in new warning for traders
Eight seafarers missing and nine unconscious after cargo ship sinks off Japan Coast guards rescue 13 crew members from the Jin Tian, but fears remain over their condition
Atlantica Shipping starts 2023 with another PSV acquisition Oslo owner builds up offshore fleet following MR and feeder container ship disposals
Turkish cargo ship hit by missile in Ukraine The incident is reported in Kherson, a port outside the scope of the UN-led Black Sea Grain Initiative
Private equity player Oaktree offloads chunk of tanker giant Hafnia in a private sale US fund cashes in again as higher product tanker rates drive share price up
Bangladesh's HR Lines ditches newbuildings for secondhand container ships Regional liner company buys feeder ships from Maersk and SITC International
BYD and H-Line Shipping order PCTCs at China's Guangzhou Shipyard International State-owned Chinese shipyard has a total of 19 PCTC newbuildings on its orderbook
Handysize bulk carrier order rush helps fill hungry Japanese yards Devaluation of the yen against the greenback appears to have encouraged owners to order
BYD and H-Line Shipping order PCTCs at China's Guangzhou Shipyard International The state-owned Chinese shipyard has a total of 19 PCTC newbuildings on its orderbook
Safety blitz helps Singapore shipyards slash worker deaths Government advises companies not to skip on investments in safety or staff wellbeing
Kirby adds former BP Shipping head Dio to board of directors Houston company adds longtime shipping executive to its 10-member board
Eneti scores up to $13m in new contract revenue on three wind units Contracts for work in northwest Europe come on heels of December announcement on first WTIV newbuilding
Swimming against SPAC tide, Freightos goes public on Nasdaq FreightTech startup Freightos is raising money through a public offering rather than seeking venture capital.
How will Maersk-MSC split redraw container shipping landscape? Speculation is swirling on how the end of a global container shipping alliance will affect ocean carriers and cargo shippers.
Hapag-Lloyd acquires stake in Indian terminals, logistics provider "Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets," Hapag-Lloyd CEO Rolf Habben Jansen said.
Lessons from the 1994 Puerto Rico oil spill 1994: Those involved in response to the 600,000-gallon spill reflect on their efforts.
Air Canada names in-flight chief Turner to lead cargo Air Canada is sticking with a Canadian, Jon Turner, as cargo chief after two Americans in that position left in recent years.
Container shipping shake-up: Maersk, MSC terminating 2M in 2025 Shipping services around the globe will be reconfigured after the top two carriers end their vessel-sharing agreement.
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