FERRIES 2023: Candela eyes electrified vessels to improve public transit Waterborne transportation has long been an important mode of travel, but the environmental impact and cost of operating traditional ferries has limited its use in modern times. However, with Stockholm-based Candela's cutting-edge technology,
Russia's Black Sea Fleet Commander reported killed As a trickle of merchant ships starts to use the Ukrainian-designated "safe corridor" to its ports, the Ukrainian Navy and special forces continue to degrade Russia's naval capabilities. The most recent example
SEACOR Holdings sells U.S. harbor towing business SEACOR Holdings Inc. says its Seabulk Towing Holdings Inc. subsidiary is to sell its U.S. harbor towing operations and assets. They are being bought by two fifth-generation family-owned companies: New Orleans headquartered
Suez Canal Authority orders 10 RAstar 3200-W ASD tugs Egypt's South Red Sea Shipyard has awarded Vancouver, B.C.-based Robert Allan Ltd. a contract for the design of 10 RAstar 3200-W ASD tugs to be built for the Suez Canal Authority. These
Op-Ed: Ports as sites for security and defense By Professor Basil Germond, Chair in International Security and co-director of the Security Lancaster Research Institute and Professor Jan Bebbington, Rubin Chair in Sustainability in Business and director of the Pentland Centre,
Nexan returns to Ulstein for next generation cable layer Paris, France, headquartered Nexans is to add a third cable layer to its fleet. Like its flagship vessel, Nexans Aurora, it will be built by Ulstein Verft in Ulsteinvik, Norway, to a
Op-Ed: How the world tanker market split due to the Ukraine war By John Helmer In the war at sea between the U.S.-NATO alliance and Russia, the Russian shipping company Sovcomflot says its future has never been better. The U.S. State Department directing the
Virginia offshore wind project marks a regulatory milestone Dominion Energy reports that its Coastal Virginia Offshore Wind (CVOW) project reached a major regulatory milestone today when the Bureau of Ocean Energy Management announced that it had completed its environmental analysis
NYK to reduce methane emissions NYK participated in September as a key partner in the Methane Abatement in Maritime Innovation Initiative ("MAMII"), an initiative to reduce methane emissions in the maritime industry. More specifically, MAMII is led by Safetytech Accelerator, a non-profit organisation established by Lloyd's Register Group. Also, in its first year, the initiative has produced a methane strategy landscape report c
ICTSI in Latin America reaches a new operational milestone CMA CGM Alexander Von Humboldt arrived at Contecon Manzanillo (CMSA) in Mexico and Sociedad Puerto Industrial Aguadulce (SPIA) in Colombia, marking a new operational milestone for International Container Terminal Services (ICTSI). The 396-meter-long vessel is the first of its size in Latin America to operate on a regular basis. Its presence highlights CMSA and SPIA's ability to efficiently handle
ZIM launches direct service between WCSA and Savannah ZIM offers a new direct service between the port of Savannah and the West Coast of South America to support the growing perishables market. In particular, the direct service on the ZIM Colibri Xpress aims to take advantage of Savannah's refrigerated cargo infrastructure and partner network that can support a suite of services, such as agriculture inspections, cold treatment/retreatment services,
PSA BDP and ALISAN logistics expand presence in Türkiye PSA BDP and ALISAN Logistics, a logistics provider in Türkiye and member of the PSA Group, celebrated with a formal event the finalisation of the acquisition of ALISAN by PSA International (PSA). Earlier, PSA announced an agreement to acquire 75% of the shares of ALISAN, with the company grouped under PSA BDP, PSA's cargo solutions arm. During the evening, leaders unveiled a new ALISAN logo to hi
San Pedro Bay and Shanghai ports implement first Transpacific green shipping corridor The world's first green shipping corridor across the Pacific is taking form. According to a statement, a voluntary partnership of leading maritime goods movement stakeholders unveiled a Green Shipping Corridor Implementation Plan Outline to cut emissions on one of the world's busiest container shipping routes across the Pacific Ocean, including the Ports of Los Angeles, Long Beach, and Shanghai.
Mawani signs green deal with SIRC The Saudi Ports Authority (Mawani) has signed an agreement with the Saudi Investment Recycling Company (SIRC) in order to promote collaboration across sustainability, marine safety, and oil spill control besides setting up waste management and recycling facilities. In particular, the agreement is specifically tailored towards adopting sustainable ship waste recycling practices and strengthening r
Ship Concept 2030: Tomorrow's skillsets at sea What will crew need to be adapt at when stepping onboard a newbuild coming out of a yard in 2030? E-fuels, biogas, biofuels, fuel cells, nuclear propulsion, kite sails, rigid wing sails, Flettner rotors, air lubrication, Mewis ducts, hull antifouling, onboard carbon capture, artificial intelligence and automation - there's a huge amount of new 'stuff' ...
Fredriksen's Northern Drilling loses arbitration against Hanwha over cancelled drillships John Fredriksen's rig investment company, Northern Drilling, has lost a legal battle with Daewoo Shipbuilding & Marine Engineering (DSME), now Hanwha Ocean, over cancelled resale contracts for two ultra-deepwater drillships. In 2021, Northern Drilling terminated deals with DSME for the West Libra and West Aquila, citing delays in delivery as well as a repudiatory breach ...
Maersk Supply Service wins subsea vessel contract extension in Angola Maersk Supply Service has been awarded a contract extension for its subsea support vessel . The 2017-built ship will support various subsea operations off the coast of Angola for an additional 15 months. The vessel had previously worked for TotalEnergies. The ship's AIS data shows it is destined for the TotalEnergies-operated Dalia field located in ...
Danaos linked to further cape play Greek containership owner Danaos continues to place its bets on the dry bulk market with another move on seconhand capesize tonnage. According to brokers, the John Coustas-led boxship tonnage provider, which earlier this year acquired five capes, has snapped up Sinokor's 175.879 dwt 2009-built West Trader for about $18.8m. In July, the New York-listed firm ...
Diana Shipping wins charters for dry bulk duo Greek bulker owner Diana Shipping has entered into time charter contracts for two of its dry bulk vessels with ASL Bulk Marine and ST Shipping and Transport. The Semiramis Paliou-led owner of 41 bulkers fixed out its ultramax DSI Pyxis to Bulk Marine. The gross charter rate is $14,250 per day, minus a 5% commission ...
Seacor offloads US towage business US owner Seacor Holdings has sold harbor towing operations and assets from its Seabulk Towing subsidiary to two separate buyers, E.N. Bisso & Son and Bay-Houston Towing. The portfolio company of American Industrial Partners said the E.N. Bisso transaction includes 12 harbor tugs across ports in Florida and Alabama, while Bay-Houston is acquiring eight vessels ...
Seacon unlocks cash in fresh sale and leaseback deal Hong Kong-listed Seacon Shipping has raised fresh capital via the sale and leaseback of one of its newbuilds. The Qingdao-based shipowner and operator has sealed a deal with Bank of Beijing Financial Leasing to sell the 13,500 dwt general cargo ship for $21.25m. The vessel will deliver this month and be chartered back to Seacon ...
Subsea 7 and SLB alliance deepens ties with BP Subsea Integration Alliance, a non-incorporated tie-up between Subsea 7 and SLB's OneSubsea has penned a memorandum of understanding with UK supermajor BP aimed at forming a framework agreement for integrated subsea developments. The framework agreement would see Subsea Integration Alliance work with BP from concept selection, through the full field life cycle, to deliver "enhanced ...
CMA CGM, COSCO, Maersk, ONE sign up for transpacific green corridor A partnership between ports, carriers, and cargo owners has published an outline of a Green Shipping Corridor Implementation Plan which will accelerate emissions reductions on one of the world's busiest container shipping routes across the Pacific Ocean. As part of the historic plan, the carrier partners will begin deploying reduced or zero lifecycle carbon capable ...
Vattenfall taps DEME for Dutch wind farm work Sweden's Vattenfall has selected DEME Offshore to further strengthen the cables around the Netherlands' Hollandse Kust Zuid offshore wind farm site. Under the contract, DEME will carry out rock installation utilising its fleet of fall pipe vessels with work set to take place between the fourth quarter of 2023 and the first quarter of 2025. ...
South Korea's SK ecoplant lines up work on domestic offshore wind project SK ecoplant has landed a preferred supplier agreement for the transportation and installation of jacket foundations at the Anma offshore wind farm in South Korea. The work scope covers 38 jackets designed to accommodate 14 MW wind turbines for the 532 MW wind farm project located some 40 km west of the South Korean peninsula's ...
Ukraine's new shipping corridor gains traction Ukraine's new shipping corridor is gaining traction. Following last week's sailing from Black Sea ports of two ships carrying grain bound for international markets, another three bulk carriers have arrived in Ukraine ready to take on a combined 130,000 tons of grain and iron ore. Further ships are ready to make the voyage to the ...
TotalEnergies exercises option on Vantage drillship Vantage Drilling has seen a second priced option exercised on its drillship working offshore West Africa. TotalEnergies has opted to keep the 2013-built for 110 days, fixing it into the second quarter of 2024. Under the contract signed in June 2022, the French energy major, which has been utilising the floater offshore Namibia, has one ...
COSCO takes stake in MOL's three LNG newbuilds COSCO Shipping Energy Transportation (CSET), the oil and gas shipping unit of COSCO Shipping Group, is buying into three LNG carriers Japan's Mitsui OSK Lines (MOL) has lined up for construction at Hudong-Zhonghua Shipbuilding. The Chinese state-owned shipping giant will acquire a 49% stake in each ship set to deliver from the CSSC-affiliated yard by ...
Oaktree sells down in Star Bulk US private equity firm Oaktree Capital Management Greek has offloaded about an 8% stake in Greek dry bulk owner Star Bulk Carriers. The Nasdaq-listed operator of around 120 bulkers is buying back 10m shares from its largest investor for $18.50 apiece. The Petros Pappas-led firm is funding the deal with proceeds from vessels sold "at ...
OceanPal fixes out bulker to Five Ocean Greek bulker owner OceanPal has entered a time charter contract with Five Ocean Corporation for one of its capesize dry bulk vessels. Five Ocean hired the 171,810-dwt bulker on a gross charter rate of $14,500 per day minus a 5% commission paid to third parties. The Nasdaq-listed spinoff of Diana Shipping said that the vessel ...
Wisdom Marine sells two newcastlemaxes Lan Chun Sheng-led Wisdom Marine has cuts its exposure to the large bulk carrier segment. The Taiwanese mammoth has been temping the market for months with two 11-year-old, 208,000 dwt newcastlemaxes called Blue Horizon and Clear Horizon. The company finally agreed on a sale with Germany's Neu Seeschiffahrt paying $61m for the pair. Wisdom Marine ...
St Lawrence traffic suspended following cement carrier grounding Two tugs have been dispatched from Montreal to assist the , a cement carrier that ran aground on Sunday morning on the St Lawrence River near Cornwall in Ontario. Traffic along the river has been suspended with authorities concerned that the cement carrier has taken on water. The ship has developed a list to port. ...
Petronas, MISC and MOL to develop liquified CO2 carrier venture Malaysian energy giant Petronas, along with its shipping arm MISC, has signed a term sheet with Japan's Mitsui OSK Lines (MOL) to create a joint venture to develop liquified carbon dioxide (LCO2) carriers for carbon capture and storage projects around Malaysia. The three parties have been working on LCO2 carrier designs for many months, which ...
Carriers struggle to contain costs Container lines have seen operating costs rise since the pandemic. Reducing costs further could even lead to jobs being cut
Seafarers agree wage increases and focus on fuel transition The challenges for seafarers of the move to decarbonisation are not insignificant. The working group set up by the ITF...
Russian drone and missile strikes Odesa port, killing two Two Odesa residents were killed in Russian drone and missile strikes. The overnight comes after regional trade resumed
The week in newbuildings: Owners sign up for more crude oil tankers while cruiseship orderbook sees a boost The newbuilding orderbook for suezmax tankers and very large crude carriers has now reached 56 vessels and 22 ships respectively
TEN eyes more dual-fuel tankers after delivery of lead Equinor aframax US-listed company believed to be in discussions for methanol-capable tanker newbuildings
Gard alone accounts for vast majority of P&I club underwriting profits Shipowners seeking stability should insure with larger International Group affiliates, while smaller marine mutuals will 'continue to struggle', marine broker...
Winter rally arrives for VLCCs as Atlantic draw sees tanker rates climb Time charter equivalent rates 'back to normal' after Saudi and Russia export cutbacks saw crude inventories draw and oil-on-water volumes...
Joining the maritime industry 'is like stepping back in time' Seafarer charity head Simon Grainge is addressing the recruitment crisis head-on. It comes as industry events are beginning to ask...
Bocomm Financial Leasing's ship drawdown to exceed $4.1bn by 2023 The president of Bocomm Financial Leasing says the lessor possesses a fleet of nearly 500 vessels, ranking third in the...
Very large gas carriers smash rates records as Chinese propane demand fuels arbitrage trade Difference in price between LPG sold in Houston and Japan was $316 per tonne according to Avance Gas, with freight...
Further call to protect EU ports from ETS fallout Plans are in place to prevent carriers avoiding the Emissions Trading System tax by way of using transhipment hubs. But...
More boxships and bulkers sold for recycling as prices jump Indian recyclers are still picking up the majority of vessels being circulated for end-of-life sale, including several 'extraordinarily priced' boxships
Chinese container executives warn of slower growth The world's container shipping volumes will line up with global economic growth in the long run, Cosco Shipping executive vice-president Lin...
The week in charts: Frenzied trading grips new Shanghai container futures | Tanker values may have peaked | Marine insurance recovery continues Asset values for crude and product tankers fall, insurance premiums jump 8.3% in 2022 and new containerised futures exchange reports...
MOL, Petronas and MISC tie up to develop liquefied CO2 carriers Japan's Mitsui OSK Lines is working with Malaysian state oil giant Petronas and shipping group MISC on CO2 carriers
Seacon strikes sale-and-leaseback bulker deal with Beijing Leasing It will then bareboat charter back the dry bulker, which is scheduled to be delivered this month, for 10 years
Daily Briefing Dark fleet tanker engine failure blocks Turkish Strait traffic | Tanker values may have peaked as Greek owners avoid dark...
First green shipping corridor will connect Shanghai with Southern California Los Angeles, Long Beach and Shanghai will work with ocean carriers and an organization of cities committed to emissions reductions to develop the first-ever green shipping corridor along one of the busiest shipping lanes in the world.
Uncertain US shippers shifting freight, altering inventory strategies The BlueGrace Logistics Confidence Index indicates retail shippers with "tremendous" inventories on hand are likely to move more small shipments as the holidays approach.
Sourcing shift causes surge in South American logistics investment New forwarding and ocean services are being added to South American trade lanes as service providers move to capture rising trade growth in the region.
CSX, NS Gulf Coast rail deal with Amtrak receives federal funding The U.S. Department of Transportation will back improvements along tracks that span the ports of Mobile and New Orleans to allow freight and passenger service to coexist.
Diana and Costamare forge term deals as midsize bulker period charter assessments rise New York-listed Diana expects to make nearly $9m off latest two charters
Nova Algoma cement carrier spends second day aground after halting St Lawrence traffic Vessel was briefly refloated before running aground again
Diana Shipping forges trio of term deals as midsize bulker period charter assessments rise New York-listed shipowner expects to make nearly $9m off latest two charters
Judge slaps Alf Aanonsen's Trinity companies with default judgment in charter case Court awards treble damages, bringing total sum to $14.2m
Seafarers win 6% pay rise under International Bargaining Forum deal Four-year deal reached between employers and unions in Berlin last week
Australia-to-China coal flows push capesize bulker rates to three-month high Spot rates surge 30% in a week as import prices beat north China coal
Ships in Odesa port 'damaged' in latest Russian strike, says Ukraine Grain export facilities may be unusable after missile attack
'Most affordable': Analysts say it is time to snap up International Seaways stock Clarksons Securities likes the look of dividend capacity at Lois Zabrocky-led tanker shipowner
Container ships set for recycling in India as pricing levels top $600 per ldt But market sources caution that Sinokor deal is not indicative of current scrap prices
Russian fuel export ban leaves tanker market in limbo, says Poten & Partners Uncertainty looms for ships currently involved in Russian exports, says broker
Crude tanker seasonality is real, Clarksons' Frode Morkedal reminds investors VLCC, suezmax and aframax rates rise week over week as northern hemisphere temperatures drop
Clarksons says tanker tonne-miles growing at fastest rate since 2017 Opec cuts are dampening volumes but not distances, research chief Stephen Gordon says
VLCC rates start to pick up after 'disastrous' September, say analysts Minor rally continues as owners insist that conditions are set fair for years to come
'How it should be': Oystein Kalleklev says VLGC rates moving into LNG carrier territory Boss with foot in both camps of gas shipping says everybody is happy with record earnings
Celsius forward-fixes four methanol-ready container ship newbuildings Unifeeder steps up chartering activity
MOL and MISC form joint venture with Petronas to build CO2 carrier fleet Asian heavyweights teaming up to develop and monetise gas shipping concept
Seaspan expects first big ammonia container ship on the water from 2030 Canadian owner aiming to take its charterers on the decarbonisation journey
Ailing Greek ferry relic finally given the heave-ho onto Turkish ship recyclers Sucker-punched by cheap Russian steel imports, Aliaga's recyclers can still rely on Greek ferry sector for tonnage
Cosco Shipping Energy buys into MOL's new Chinese LNG carriers Sino-Japanese partnership deepens with new investment
Luksic family's shipping gamble pays off as fortune swells to $25bn Chilean owners of CSAV benefit from shareholding in container line Hapag-Lloyd
Russia shuns Western shipping services as its crude revenues soar Western insurance is forced out of the trade as price-capped trading recedes
Seafarers evacuated as handysize bulker burns off Indonesia Vessel hit by engine room blaze on Sunday
Ailing Greek ferry relic finally given the heave-ho onto Turkish ship recylcers Sucker-punched by cheap Russian steel imports, Aliaga's recyclers can still rely on Greek ferry sector for tonnage
Ship size is going to matter due to ammonia's limitations, designers say Naval architects argue bigger vessels will have an advantage by being able to house large fuel tanks
Insurer West of England gets credit rating boost AM Best awards London-based mutual insurer an A- rating
Petredec sells vessel to Greece's Naftomar amid soaring VLGC rates Major VLGC shipowner and trader sells one of its oldest ships as it takes delivery of six newbuildings
SITC buys seven chartered and newbuild ships in deal with chairman Yang Shaopeng Hong Kong-listed line spending $58m on expanding owned fleet
Taiwan's Wisdom Marine to downsize capesize fleet as bulker pair put up for sale Capesize segment not core to the company's business
QatarEnergy closes in on first batch of its phase 2 LNG newbuilding project Company poised to declare some of pre-reserved slots but all eyes are on which shipowners will join party
Former Wallem managing director Peter Cowling dies Popular industry executive described as a 'shipping man through and through'
Danaos linked to Sinokor vessel in new capesize acquisition US-listed container ship player said to be making its second expansion move in bulkers
Shipping man Stefanos Kasselakis wins party vote to become Greek opposition leader Entrepreneur-turned-leftist politician takes Greek Syriza party by storm
Container ships set for recycling in India as pricing levels top the $600 per ldt mark But market sources caution that Sinokor container ship deal is not indicative of current scrap price levels
Cosco Shipping leads Chinese green methanol bunker fuel initiative State-owned giant says project will also explore other green fuels for shipping
Russian fuel export ban leaves tanker market in limbo, says Poten Uncertainty over what will happen with the ships currently involved in Russian exports, says broker
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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