Europe's FuelEU aims to kick start shift to greener fuels Europe's FuelEU legislation has now been adopted by the European Council and will come fully into effect from January 2025, though some requirements will come into effect from August 31, 2024. The
Alabama Shipyard wins $19.6 million USNS Comfort contract Hard on the heels of winning a $10.7 million Military Sealift Command (MSC) contract for a fleet oiler availability, Alabama Shipyard LLC, Mobile, Ala., has been awarded a $19,685,492 firm-fixed-price contract for
MARAD still seeks 10th ship for new Tanker Security Program The U.S. Maritime Administration (MARAD) has announced that nine ships have now been enrolled in the Tanker Security Program (TSP). The Fiscal Year (FY) 2021 National Defense Authorization Act (NDAA), with minor
Eastern Shipbuilding wins $257 million USACE hopper dredge contract Back in February 2022, the Corps of Engineers announced that it was at the initial stages of procuring a replacement for its then 56-year old hopper dredge McFarland and had issued a
VIDEO: NewCleo offers new options for marine nuclear propulsion In another indication that nuclear propulsion could well be a part of maritime's decarbonization strategy, London-headquartered nuclear tech start up NewCleo has signed an agreement with shipbuilding giant Fincantieri and classification society
WIMOs celebrates six years of female representation in maritime In 2017, Kasey Eckstein and Jenna Gaudet started doing business together in maritime operations. In doing so, they realized the need for an organization that catered towards female professionals in maritime operations,
ONE's MIM service adds Beira and Nhava Sheva calls Ocean Network Express (ONE) announced that its MIM service will add Beira and Nhava Sheva call on top of the existing port rotation in two cycles as follows: The original port rotation is Jebel Ali - Mundra - Mombasa - Maputo - Jebel Ali, while the new port rotation of the first cycle will be Jebel Ali - Mundra - Mombasa - Beira - Maputo - Jebel Ali. This new rotation will take effect on 8 August
"Covid period keeps distorting yoy comparisons," reports Kuehne+Nagel amid first-half US$1bn profit Switzerland-headquartered transportation company Kuehne+Nagel Group reported a net turnover of US$14.6 billion (CHF 12.7 billion) for the first six months of 2023, earnings before interest (EBIT) of approximately US$1.3 billion (CHF 1.1 billion) and earnings of US$990 million (CHF 860 million). Meanwhile, the conversion rate, which describes the ratio of EBIT to gross profit of the company, reach
Pan Ocean parent Harim to compete for HMM ownership Harim Group has thrown its hat into the ring to take over South Korea's flagship carrier HMM. The South Korean poultry business is the parent of Pan Ocean, the country's largest dry bulk shipping company that was acquired by Harim in 2015. Harim and private equity player JKL Partners submitted a joint bid on 24 July to buy the 57.87% stake in HMM held by Korea Development Bank (KDB) and Korea Oce
CMA CGM Liberty becomes first LNG-powered boxship to call Japanese port CMA CGM Group announced the arrival of the 15,000 TEU CMA CGM Liberty at the Honmoku D4 terminal in Yokohama on 24 July. This is the first time that a liquefied natural gas (LNG)-powered container ship calls a port in Japan. The French ocean carrier connects Japan and Asia to Central and South America with three e-methane-ready vessels. CMA CGM Liberty is one of the three e-methane ready LNG-powe
US-based 3PL service provider GSC acquires Pacific Northwest key player GSC, an Oakland-headquarter 3PL service provider, has announced the acquisition of MacMillan-Piper, one of the largest and most established specialty transloaders in the Pacific Northwest. In particular, with the acquisition, GSC aims to bolster its portfolio with a network of proprietary rail transload facilities, additional warehousing capacity and expanded transloading capabilities with expert
Nhava Sheva Port builds integrated rail-side capacity for double-stacked box trains Nhava Sheva Port (JNPT), India's busiest public container gateway, has announced it is in a position to handle double-stacked container freight trains out of its new integrated rail yard for all terminals in the harbour. The port has five container terminals and mixed or combined train operations have been its mainstay for inland container depot (ICD) volumes. The port authority noted that "the s
Port of Riga achieves positive financial result in 2022 Freeport of Riga Authority reported that the excess of the revenue of the Latvian port over costs reached €1.9 million (US$2.1 million) for the previous year. In 2022, Freeport of Riga increased its revenue by 14.5% to €39.22 million (US$43.32 million). According to the report, 79% of the port's revenues consisted of port dues and charges collected from ships and other revenues were rent payments
cargo-partner launches new trucking solution between China and Europe Global logistics provider cargo-partner has recently started offering full truck load (FTL) road transport via the Middle Corridor, as a supplement to the existing rail transport services on the Iron Silk Road. In particular, the company currently offers trucking services via the Caspian Sea with transit times of 22-25 days. Earlier in July, the first transport, a temperature-controlled shipment
HMM announces new GRI from North India to East Coast of South America Seoul-based ocean carrier HMM has announced a new general rate increase (GRI) for shipments from North India to the East Coast of South America (ECSA), including ports in Brazil, Argentina and Uruguay. Effective from 13 August, HMM will apply a GRI of US$200 per TEU and US$400 per FEU and high cube container. "All other ancillary charges applicable at the time of shipment will continue to be asse
ONE unveils new loop connecting Adriatic, Israel, Egypt and Greece Singapore-headquartered container line Ocean Network Express (ONE) will commence a new feeder service to link Adriatic ports, Israel, Egypt and Greece. ONE's new Adriatic Israel Butterfly Loop service (AIB) is expected to provide a new gateway for customers within the Europe and Mediterranean region. The new weekly service is scheduled to start from the port of Damietta on 16 August and will have
RST and Samskip launch first shore power green initiative Rotterdam Shortsea Terminals (RST) and Samskip have joined forces to launch Green Shore Power initiative, which aims to reduce CO2 emissions produced by vessels docked by providing new clean shore powered energy solutions. The shore power solution is the first of its kind in the Dutch ports. The celebration of this milestone event was on 21 July, where delegations from Samskip, RST, Port of Rotte
Drewry's GTO report: PSA remains at top, Chinese operators on the rise Merge & Acquisition (M&A)-led growth strategies will propel leading regional terminal operators and container shipping lines into the global terminal operator rankings next year, according to Drewry's latest Global Container Terminal Operators Ann
Nexans moves to build its third cable layer French cabling specialist Nexans is expanding its fleet with the addition of a new cable laying vessel. The newbuild, with improved design, comfort and capabilities, will add to the company's cable layers Nexans Aurora and Nexans Skagerrak when delivered in 2026. The shipyard and the price tag have yet to be disclosed, but Nexans said ...
Euroseas agrees higher rates for container vessel duo Greek boxship owner Euroseas has terminated the current charters for the Rena P and Emmanuel P container vessels, while concurrently fixing the vessels on new charters. Euroseas agreed to terminate the current charter for the 2007-built, 4,250 teu Rena P which was originally expiring in February 2025 earning a rate of $20,250 per day until ...
Signal links up with Germany's Flagship Founders on maritime tech startups Greece's Signal Group has teamed up with German venture studio Flagship Founders to jointly develop new technology startups for the maritime industry. As part of the deal, the Ioannis Martinos-controlled Signal is taking a stake in the Berlin-based Flagship Founders and will contribute data and APIs from its Signal Ocean platform to help speed up ...
Siem Offshore secures work for AHTS duo in Australia Norwegian offshore vessel operator Siem Offshore has secured a medium-term contract for two of its anchor handling tug supply (AHTS) vessels in Australia. The contract with an undisclosed major operator is for the 2010-built Siem Aquamarine and 2011-built Siem Amethyst. Siem Offshore did not disclose the value of the fixture which is set to commence ...
EU adopts green fuel law for shipping After two years of intense negotiations, the EU has agreed on the final rules for climate-neutral shipping, with the adoption of the so-called FuelEU Maritime initiative. The political agreement means that shipping will be covered by the EU's emissions trading system (ETS) from 2024 and FuelEU Maritime from 2025, with shipping companies gradually reducing the ...
RFOcean books four methanol dual-fuel chemical tankers in China London-based RFOcean has placed an order for four 6,600 dwt methanol dual-fuel stainless steel chemical tankers at Wuhu Shipyard in China. No price has been revealed, but brokers estimate the Frederik Rye-Florentz-led alternative investment and commercial management firm is paying around $80m for the quartet. The largest shipbuilding enterprise in Anhui province, which counts battery ...
Jacktel taps Maritime Asset Partners for $80m loan Norway's Jacktel has secured an $80m loan from a subsidiary of London-based ship finance boutique Maritime Asset Partners. The offshore accommodation rig owner will use the net proceeds from the financing to fully refinance the existing senior secured bonds due in December this year. The deal, maturing in December 2027, includes a monthly fixed interest ...
UK launches charter to protect seafarers' rights and welfare A new Seafarers' Charter launched by the UK government has guaranteed fair wages, proper rest periods, and suitable training for thousands of seafarers. The charter is part of the government's wider plan to protect seafarers and boost employment protections, ensuring they're paid and treated fairly - regardless of flag or nationality. This is at the ...
Hilong Marine scores $36m contract in the Middle East Hilong Marine Engineering has secured contracts with UAE-based fabricator Lamprell and Lamprell Saudi Arabia. In a deal worth $36m the subsidiary of Hong Kong-listed Hilong Holding will provide engineering construction services for an undisclosed project. The work scope includes transportation and installation of new platforms, retrofitting of existing platforms and installation of subsea pipelin
Ships pull back in wake of latest Russian attacks Ships are backing up along the western edge of the Black Sea at the entrance to the Danube and outside Romania's Constanta port amid severe uncertainty over how to proceed with exports from Ukraine after multiple Russian attacks on port locations and the decision last week to end the Black Sea Grain Initiative. Russia's decision ...
German shipbrokers join forces Two Hamburg-based shipbroking companies ARA Shipbrokers and JP Maritime Services & Broking (JPMSB) have agreed to join forces. Moving forward, ARA and JPMSB will market their sale and purchase broking services together under the ARA umbrella. ARA was founded in 2011 and is best known in the fields of containerships, MPP and coasters but also ...
COSCO and China Merchants lead growth among world's top terminal operators China's two state-backed port operators are growing faster on the international stage than other established terminal names such as PSA International and DP World. COSCO and China Merchants both saw volumes grow last year by more than 4%, cementing their place on the podium of terminal operators while their rivals in the top six all ...
CTM supramax pool expands with XT Shipping vessel XT Shipping, the joint venture between Idan Ofer and Udi Angel, has joined C Transport Maritime's (CTM) Supramax Revenue Sharing Agreement (RSA). The Israeli-based company is the second company to join the Supramax RSA this year. The first one was Forra Ultramax which joined in May. XT Shipping added its 2017-built, 61,266 dwt bulk carrier ...
No sign of major stimulus from Beijing Real estate stock prices soared today in Hong Kong and Shanghai, but dry bulk owners hoping for a big stimulus announcement from yesterday's Politburo meeting in Beijing will be disappointed with the range of economic measures outlined. China's top leaders pledged on Monday to ramp up policy support to boost domestic consumption as the economy ...
Nuclear offers shipping 'vast potential': ABS A new American study adds to the growing raft of experts signalling that nuclear could feature in shipping's future propulsion mix. American Bureau of Shipping (ABS) chose Herbert Engineering Corp (HEC) to see the impact of nuclear propulsion on the design, operation, and emissions of a 14,000 teu container vessel and a 157,000 dwt suezmax ...
Russian box volumes soar Shorn from many links with the West, Russia has still managed to welcome very solid amounts of container traffic. Box volumes at Russia's own ports have rebounded sharply, drawing in over 200,000 teu of incremental containership capacity since the end of last year, according to data from Linerlytica. Q2 Russian container volumes grew 33% year-on-year. ...
Magni Partners hammers out deal for up to six new VLCCs London-based Magni Partners has made a deal to order up to six VLCCs from New Times Shipbuilding in China for $138m per vessel. The order comes soon after one of the most famous names in Norwegian maritime Tor Olav Trøim said that Magni Partners, his private investment vehicle, would order VLCCs. During a speech at ...
Eastern Pacific Shipping enters green energy agreement with China Power Idan Ofer-controlled Eastern Pacific Shipping (EPS) has signed a Framework Cooperation Agreement (FCA) to collaborate on the production of green energy and renewable fuel solutions with China Power International Development Limited. Under the agreement, EPS and China Power will cooperate to advance the development and adoption of energy solutions for the maritime industry, including green ...
Octopus Energy to invest $20bn in offshore wind by 2030 Britain's Octopus Energy is to invest $20bn through its generation unit in offshore wind by 2030. The investment will go towards the generation of 12 GW of renewable electricity a year, enough power for 10m homes. Octopus is targeting projects all over the world, with a focus on Europe and already has several deals in ...
Yangzijiang Financial buys into chemical tanker pair Singapore-listed Yangzijiang Financial Holding has splashed over $30m to pick up stakes in two chemical and product tankers and entered into an agreement to co-charter eight eco MRs. Yangzijiang Maritime Private Equity Fund, a sub-fund managed by Yangzijiang Financial's subsidiary GEM Asset Management, has invested $19.5m in 26,200 dwt RT Star and $12.64m in 19,999 ...
Savannah box volumes remain soft through June Port of Savannah volumes were down 17.8% through June compared with the same period last year, which was its best...
Panama Canal Authority to maintain draught restrictions and limit vessel transits Extended dry season in the Canal Watershed have led the Panama Canal Authority to extend the latest draught restriction of...
Danube drone attacks fail to dent trade but shipping security concerns are rising Lloyd's list Intelligence vessel-tracking data indications no significant increase to existing congestion along the Danube route
Signal and Flagship Founders link up to expand work with maritime start-ups Coalitions are important to access opportunities and extend network reach, says Signal's Nikolas Pyrgiotis
Rise in oil prices and refining margins 'doubly positive' for tankers Crude oil price gains support tanker sentiment, especially with even steeper gains for diesel and gasoline prices, analysts say. Meanwhile...
Vopak to collaborate with Australian green ammonia project Vopak agreed to collaborate with Australian hydrogen producer H2U to focus on potential green ammonia exports to Japan and South...
Greek tanker exodus from Russia trades lifts freight premiums but drives rates lower Suezmax and aframax rates decline, as oil price cap breach diverts tankers into mainstream trades
UK licence suspension of Indian Ocean floating armouries leaves 3,000 weapons in limbo Decision leaves each ship 'rendered with immediate effect an unauthorised vessel-based armoury' with the fate of weapons and equipment on...
Logistics giants look to improved second half of 2023 DSV upgrades guidance as outlook improves. K+N expects volume improvements but no peak season
Greek shipowners hail CEM Hubs as first maritime decarbonisation deal to involve all stakeholders 'We are only at the beginning', says UGS president Melina Travlos, calling for the initiative to be widely supported across...
LEOs bring attractive benefits but beware shortcomings The LEO connection cost has significantly reduced during the past year as digital technology and crew welfare had made use...
UK Club announces loss prevention appointments Thomas Miller-managed marine mutual strengthens department
Container prices struggle to recover despite peak season optimism Carriers are urged to withdraw more capacity from the market should they want to further shore up freight rates and...
Containership charter periods fall as rates remain under pressure Brokers report relatively high levels of fixture activity although liner operators are increasingly seeking short charter periods in an uncertain...
Rotterdam bunker sales drop in second quarter despite higher HSFO demand Marine fuel sales dipped at Rotterdam over April-June, while LNG bunkering activity picked up owing to competitive pricing
Zodiac grows chemical tanker fleet with newbuilding quartet from Japanese shipyard Newbuildings will boost the stainless steel chemical tanker fleet of London-headquartered shipowner to 16 vessels
Oil being removed from FSO Safer 'In the absence of anyone else willing or able to perform this task, the United Nations stepped up and assumed...
Carriers set to join global terminal operator top table Carrier diversification and merger and acquisition activity are increasing the number of global players in the terminal sector. Leading operators...
HMM's owned fleet scores high in IMO's CII rating Results have been verified by Korean Register's greenhouse gas emission reporting system, 'KR GEARs'
China Merchants Port Holdings appoints Feng Boming as chairman Feng left Cosco Shipping in April last year and joined China Merchants Group as a vice president
Industry 'cannot afford to ignore' nuclear propulsion says ABS chief An ABS-commissioned study by Herbert Engineering that modeled the impact of nuclear propulsion on a 14,000 teu boxship and suezmax...
Daily Briefing EU and US struggling to match sanctions rhetoric with enforcement | Early signs of change as oil cap price breach...
New Jersey port stakeholders say state police ready for oversight task Maritime employers expect New Jersey State Police oversight of longshore hiring in the state will be easier and less burdensome than it was under the soon-to-be dissolved Waterfront Commission.
Major forwarders riding out slow return of traditional freight markets The CEOs of DSV and Kuehne + Nagel, shrugging off heavily distorted year-over-year comparisons, described their second-quarter results as "solid" and reflective of the evolving normalization of the air and ocean markets.
LTL carrier TForce Freight moves closer to new contract with Teamsters Teamster local leaders endorsed a new five-year pact with LTL carrier TForce Freight, while the union eyes talks with Yellow.
UPS, Teamsters reach deal on tentative five-year contract, averting possible strike A tentative agreement removes the threat of a disruptive strike that would have roiled supply chains, giving UPS Teamsters several weeks to vote on the new contract.
ILA chief calls for global union fight against port, maritime automation The president of the International Longshoremen's Association says automation and new technology are an existential threat to union members and other maritime employees worldwide.
Nexans to build 'most technologically advanced cable layer ever' to target US and Europe New vessel will build on the 2021-built Nexans Aurora, which was constructed at Ulstein Verft in Norway
Webber on ESG: Eagle Bulk wasn't the only shipowner winged by consolidation concerns Analyst releases full 64-company tables and talks trends in evaluation of environmental, social and governance performance
Failure to launch: What next for bulker markets as Chinese economic growth disappoints? The world's biggest importer of dry bulk commodities pledged to up governmental support for its economy on Monday
Cruise ships have not been banned from Amsterdam, industry group says City council moves to keep passenger ships out of city centre, according to Cruise Lines International Association
NYK Line locks in fresh contract with Mitsubishi Corp arm for LNG newbuilding Shipowner adds its seventh vessel to trading house's burgeoning fleet designed to ship US volumes
Delfin Midstream pushes out planned FID on first FLNG unit to October But company says second floater set to be sanction shortly afterwards based on signed offtakers to four vessel offshore port
Green fuels enabler: New EU law to cap shipping's carbon intensity clears final hurdle After adoption by European Council, FuelEU Maritime will mandate gradually increasing cuts to greenhouse gas emissions in bid to boost green fuels adoption
Salvage teams start pumping oil from decaying supertanker UN chief hails critical step to preventing 'colossal' environmental catastrophe
Ulrik Kriete steps down from ASSC after passing of founder Bertram Rickmers Departure of loyal lieutenant leaves management of Hamburg-firm firmly in hands of sixth generation
Oldendorff, H-Line sell in busiest capesize S&P scene since March Brokers suspect Greeks and South Koreans behind high-profile deals for relatively modern pair of big bulkers
GenPro in talks over providing alternative fuel options to shipowners Ship supply broker says decarbonisation does not just mean looking at its own supply chain
Maria Theodosiou reveals how ship supply broker GenPro is charting a green route for shipowners Cypriot procurement company publishes first sustainability report and takes aim at the supply chain
Oldendorff Carriers targets growth in South America as cargo volumes rise Bulker giant told TradeWinds it sees a growing dry-cargo market on both sides of the continent
Siem Offshore inks charters for two AHTS for work in Australia Kristian Siem company has found strength in the Australian market as of late
Russia's second supersize FSU arrives on site as Arctic LNG 2 unit moves off Milestone sailaway gets underway for next up liquefaction project
Safety fears for sunken container ship as typhoon approaches Taiwan Slow progress on recovering empty containers as weather set to significantly worsen
Fincantieri and RINA mull nuclear option in cooperation agreement Shipping powerhouses from Italy say nuclear energy can be one way to hit decarbonisation targets
DNV partners with UAE to set up Middle East's first shipping decarbonisation centre Plans are to launch the maritime centre at the beginning of 2024
HMM fleet gets green light for CII emissions Nearly all fleet of 67 ships will clear emissions hurdle
Container volumes at Russian ports surge as new operators pile in Russian trades draw in 100 ships providing additional container capacity
Fincantieri, Rina mull nuclear option in cooperation agreement Shipping powerhouses from Italy say nuclear energy can be one way to hit decarbonisation targets
DNB's Jorgen Lian tweaks price targets for tanker trio and still expects '6-digit' VLCC rates Euronav and Frontline saw price targets drop, while DHT's was raised - but the analyst says all are an attractive entry point for investors
'We will have a lot of fun': German shipbrokers forge partnership in sale and purchase ARA Shipbrokers and JP Maritime look to develop synergies across different shipping segments
West urges China to 'expel' tankers involved in sanctioned North Korea oil trades Evidence shows vessels have sought 'refuge' off China's eastern coast
NYK, Cargill team up in wind propulsion test on kamsarmax bulker Wingsail producer Econowind to equip 10-year-old vessel with wind-assisted propulsion unit
Wah Kwong, CSSC (Hong Kong) and China Gas ink order for first LNG duo Trio turn to Dalian Shipbuilding Industry Corp for first newbuildings and secure 2027 delivery slots
Russia tanker exodus hits rates on Atlantic trades Mainstream shipowners withdraw after Russian barrels top $60 price cap
Vale now boasts all-female Singapore chartering team as Michael Gardiner quits mining giant Gardiner leaving the Brazilian company for new role as internal promotion made to replace him
JP Morgan linked to MR tanker order at Guangzhou Shipyard International Banking giant said to have ordered methanol-powered product carriers against charter contracts from TotalEnergies
WFW, DNB reveal their role in mammoth Vroon Group restructuring The $900m transaction was the first of its kind, say the lawyers and bankers who worked on it
MJL Bangladesh places rare newbuilding order in South Korea Company opted for newbuilding due to price hike in secondhand vessel market
'We will have a lot of fun': German shipbrokers forge sale and purchase partnership ARA Shipbrokers and JP Maritime look to develop synergies across different shipping segments
Eastern Pacific teams up with China energy firm on renewable fuel solutions Singapore-based shipowner says both companies will tap into their relevant expertise to develop green ammonia and methanol fuels
MARAD says prompt responses important after lawmakers' rebuke Biden Administration's maritime agency responds after Republican-led committee complains of lack of responsiveness
Georgia Ports' fiscal year volumes slide nearly 7% A decline in loaded import volumes pulled the Georgia Ports Authority's overall 2023 volumes lower.
Zim downsizing its container ship fleet as demand disappoints After rapidly expanding its fleet during the boom, ocean carrier Zim is backpedaling and shedding ships.
UK startup One Air launches cargo service with 1 jumbo jet A new London-based airline called One Air has begun commercial freighter service. The odds for survival may be daunting unless it can expand beyond a single aircraft and the market improves significantly.
LAX airport picks developer for transformational cargo project Los Angeles International Airport has partnered with former NBA superstar "Magic" Johnson and others on planning a wholesale redevelopment of its extensive cargo facilities.
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