"Dead admiral" appears in new videos It now appears that Ukrainian Special Operations Forces were unduly overoptimistic in their assessment that Admiral Viktor Sokolov, the commander of the Russian Black Sea Fleet, was among those killed in a
BOEM postpones GoM oil and gas lease sale The Bureau of Ocean Energy Management (BOEM) yesterday announced that it is postponing Gulf of Mexico Outer Continental Shelf Oil and Gas Lease Sale 261, which had been set for today, September
ABS and Asiatic Lloyd eye ultramax conversion to methanol fueling In yet another sign of the growing interest in methanol as a marine fuel, ABS and Asiatic Lloyd Maritime LLP, a member of the AL Group, have signed a joint development project
Maritime Partners swoops on Maersk Line Limited subsidiary Within weeks of announcing it was to acquire the nine Jones Act tankers owned by Oslo-listed AMSC ASA (the company formerly known as American Shipping Company), Metairie, La., headquartered Maritime Partners LLC
BlueBox Systems provides supply chain visibility for highly regulated pharmaceutical shipping The pharmaceutical industry transports cargo worth more than a trillion dollars each year. Air freight is important in this since it allows for transportation over long distances in the shortest amount of time. According to a report, a steady and functional supply chain is critical for sensitive cargo requiring regulatory approval. The most important aspect is complete visibility. However, visibi
Maritime sector at pivotal decarbonisation moment, says UNCTAD Shipping has reached a decisive moment in the green transition process with the UN trade body UNCTAD calling on the industry to establish a global regulatory framework, adopt a market-based measure (MBM) and provide financial support for developing countries. In its latest Review of Maritime Transport 2023, published today (27 September), UNCTAD said that a "just and equitable transition" to a de
MSC changes California terminal on Transpacific Sentosa service MSC has announced that it will make a terminal change on its Sentosa service, which connects Asia with the West Coast of the United States. Specifically, the vessels of the world's largest container carrier will call at the WBCT of the port of Los Angeles, instead of Long Beach (TTI). This change will be effective in November with the Liberia-flagged container ship MSC Audrey. "There will be no c
Port of Corpus Christi Ship Channel Improvement Project advances to final phase The United States Army Corps of Engineers (USACE) has awarded Callan Marine, the fourth and final contract of the Port of Corpus Christi Ship Channel Improvement Project (CIP), signalling the completion of a national infrastructure initiative that will make the ship channel the most improved waterway along the United States Gulf Coast from Texas to Florida. The federal government and the Port of
COSCO Energy and COSCO Bulk issue first eBLs with GSBN Global Shipping Business Network (GSBN) announced that COSCO SHIPPING Energy Transportation (COSCO Energy) and COSCO SHIPPING Bulk (COSCO Bulk) have joined the consortium as members and successfully issued the first electronic bills of lading (eBL) for energy transportation and bulk shipments. COSCO Energy is a corporation that specializes in the transportation of energy, such as oil and natural
Global Freight Monitor: Dry bulk strength hinges on continued China imports Higher fuel price to last and put pressure on shipping margins: The Brent price has risen 26% since July. The HSBC Oil & Gas team expects the market to remain tight due to Saudi Arabia's cut, which could last until end-April 2024, and continued strength in China's demand, which reached an all-time high of 16.7mbd in July (see: Saudi cuts extended; raising forecasts, 22 Sept 2023). Similarly, the
Interview with Dror Levy, VP of customer success at WaveBL Dror Levy, VP of customer success at WaveBL, spoke to Container News about the digitalization process of the shipping industry. He explained the difficulties that companies may face during the digital transition, pointed out the role of WaveBL in this process and shared the company's vision for the next years. How do you see the digitization process of the shipping industry? What are the next ste
CN analysis: Demand pressure continues to stall rate recovery on trades out of India With the exception of trades to Europe and the Mediterranean, container freight rates out of India have seen no noticeable recovery signs for carriers, according to the latest market analysis by Container News . On the westbound India-Europe trade, average short-term contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) or Rotte
COSCO announces digital supply chain platform for automotive industry During the launch ceremony of the 2023 North Bund International Shipping Forum, COSCO SHIPPING announced the success of the automotive industry's digital supply chain platform provided by the company itself. The purpose of the 2023 North Bund International Shipping Forum themed "Openness, Cooperation, and Innovation, Co-building a New Landscape of Global Shipping & Aviation" is to make the compan
Vessel upsizing pushes more Neo-Panamax units to mid-haul lanes More and more Neo-Panamax container ships in the 13,000 to 16,550 TEU capacity range are being cascaded into North-South trades as more Megamax ships in the 23,000 to 24,000 TEU range are delivered and alloted to Asia-Europe lanes, said Alphaliner today (27 September). Fifteen (circa 24%) of the 62 Neo-Panamax newbuildings hitting the water this year have been assigned to North-South services fro
Kuehne+Nagel, Capgemini join forces to create supply chain orchestration service offering Kuehne+Nagel and Capgemini have entered into a strategic agreement to create an industry-leading supply chain orchestration service offering to provide end-to-end services across the supply chain network. The new deal is the first of its kind in the market and combines Kuehne+Nagel's logistics management and execution expertise with Capgemini's state-of-the-art Intelligent Supply Chain Operations
Maritime Partners buys US-flag tanker business from Maersk Line Maritime Partners, a provider of maritime financing solutions primarily focused on Jones Act vessels, has announced that on 20 September, one of its managed funds acquired Norfolk, Va.-based US Marine Management (USMMI) from Maersk Line, Limited. USMMI is engaged in chartering US flag tanker and military support vessels, owned and operated by USMMI, to the Military Sealift Command, a division of
ICTSI's Ecuadorian business unit achieves 135 million tons of cargo milestone Contecon Guayaquil (CGSA), International Container Terminal Services, Inc.'s (ICTSI) Ecuadorian business unit operating the Libertador Simon Bolivar Container and Multipurpose Terminal, celebrates the achievement of handling 135 million tons of cargo since starting operations at the Port of Guayaquil. According to the global port operator, the achievement is a testament to the Port of Guayaquil's
Port of Savannah handles over 410,000 TEUs in August In August, the Port of Savannah handled 413,300 TEUs, a decrease of 28% from August 2022 with intermodal traffic accounting for 21.6% of all containers. Furthermore, Georgia Ports Authority (GPA) reported 61,300 units of vehicles and machinery in Roll-on/Roll-of
Diana Shipping books methanol-powered kamsarmaxes at Tsuneishi New York-listed Greek bulker owner Diana Shipping is back ordering ships with a deal for two methanol dual-fuel kamsarmaxes. The Semiramis Paliou-led company has signed a letter of intent to order, through Japanese trading house Marubeni Corporation or its unaffiliated guaranteed nominee, a pair of 81,200 dwt ships at Tsuneishi Zhoushan shipyard in China. Subject ...
Sapura Energy scores $300m Angolan offshore platform deal Malaysian offshore services provider Sapura Energy has signed a contract for the provision of offshore transportation and installation services contract in Angola from Azule Energy. The contracts, worth approximately MYR 1.4bn ($300m), were won by Sapura Energy's wholly-owned subsidiaries Sapura Offshore, Sapura Energy DMCC, and Sapura Energy Engineering & Construction. The contract scope of work
Britoil snaps up 30 offshore vessels in Vroon restructuring Singapore-based OSV owner Britoil Offshore Services has acquired 30 offshore vessels as the Dutch shipowner finalised its financial restructuring. The deal also included supporting offices in Singapore and Genoa. The remaining vessels have been picked up by Norway's Golden Energy Offshore Services (GEOS), while the Dutch-based Rederij Groen took over two OSVs. Vroon said the ...
New owner looking to repair and flip fire-burnt car carrier Freemantle Highway Netherlands-based Koole Contractors has become the new owner of the fire-damaged car carrier Fremantle Highway. Koole Contractors will not be repairing the ship and getting into the car shipping business but will be looking to repair the ship and sell it to a willing customer. According to Dutch media reports, Koole made several agreements with ...
Jinhui Shipping picks up ultramax for $20.4m Chinese bulker operator Jinhui Shipping and Transportation has returned to buying mode shortly after disposing of its oldest vessel. The Oslo- and Hong Kong-listed company has snapped up a 2014-built ultramax paying around $20.4m. Brokers reported in June that the 63.800 dwt ship was sold to an unnamed buyer for about $23.5m. Jinhui said it ...
QatarEnergy signs $3.9bn deal for 17 LNG newbuilds in South Korea Middle Eastern liquefied natural gas producer QatarEnergy has kicked off the second phase of its massive shipbuilding program by signing a contract with South Korea's HD Hyundai Heavy Industries (HHI) for the construction of 17 LNG carriers, one of the largest single ship orders in history. The deal, valued at $3.9bn, will see the newbuilds ...
Equinor gives go-ahead for $3.8bn investment in Rosebank offshore oil field Norwegian energy major Equinor and its partner Ithaca Energy have taken the final investment decision to progress Phase 1 of the $3.8bn Rosebank development on the UK Continental Shelf. The Rosebank field, which is the largest undeveloped field in the UK, is located around 130 kilometres northwest of Shetland in approximately 1,100 metres of water ...
China debuts new container size China has debuted a new-sized container, albeit one that is unlikely to take to sea. China Railway Group's 50 foot containers will be used on the nation's intermodal express trains. By Splash estimates, there are now eight different length containers trading around the world - 10 ft, 20 ft, 30 ft, 40 ft, 45 ft, ...
Golden Energy Offshore flips one of recently acquired Vroon ships Norway's Golden Energy Offshore Services (GEOS) is set to cash in on one of the recently acquired vessels from Vroon. The Oslo-listed, Alesund-based owner has agreed to sell the 2016-built subsea support vessel (SSV), for €15m ($15.85m). A deal with an undisclosed buyer is subject to satisfactory vessel inspection and is expected to close in ...
Hapag-Lloyd earmarks seven ships for mid-life upgrades Seven 2011- and 2012-built 8,004 teu Hapag-Lloyd sister boxships have been earmarked for major mid-life upgrades. Alphaliner reports that the seven ships will all have around 1,000 teu in extra capacity added with the first ship already in a drydock in Denmark. The ship surgery sees the ships' superstructures cut in half and a prefabricated ...
Fizzy projections for nascent seaborne CO2 trades: Splash Extra The nascent liquefied carbon dioxide seaborne trades form the lead in the September issue of Splash Extra with experts in the field suggesting as many as 50 newbuilds will be ordered by 2030. Elsewhere in the subscription title there's regular markets commentary including analysis of the underreported tanker tax issue facing owners in Nigeria, while ...
New decarbonisation survey identifies gulf between frontrunners and conservatives A new survey by the Global Centre for Maritime Decarbonisation (GCMD) and Boston Consulting Group (BCG) shows that most shipowners and operators see decarbonisation as a must, but data shows that major differences appear in their approach and urgency. The same can be said when it comes to adopting green fuels. To incorporate views from ...
MSC selected to help revive Spain's rail freight operator Mediterranean Shipping Co (MSC), the world's largest container line, has beaten rivals including CMA CGM and Maersk to be selected as the winning partner to help revive Spain's national rail freight operator Renfe Mercanias. Renfe, Spain's state-run rail operator, has finally chosen a private partner in a new attempt to revive its freight unit with ...
Subsea 7 in line for $750m contract Oslo-listed offshore engineering and services provider Subsea 7 is set to be awarded a new contract estimated to be worth over $750m. The company said Wednesday it had received a client recommendation to execute, subject to consortium partners' approval, a major subsea contract. Subsea 7 will book the deal in its subsea and conventional business ...
St Lawrence traffic resumes as grounded cement carrier is refloated Marine traffic resumed along the St Lawrence river yesterday after a cement carrier was successfully refloated having grounded near Cornwall in Ontario early on Sunday morning. Two tugs were able to shift the NACC Argonaught within two hours yesterday morning. The ship has been moved to Lake St Francis for further inspection with repairs to ...
Maersk Line sells US-flag tanker business to Maritime Partners AP Moller-Maersk's American subsidiary, Maersk Line, has sold its government contracting division US Marine Management (USMMI) to Louisiana-based Maritime Partners. Virginia-based USMMI charters US flag tanker and military support vessels to the US Navy's Military Sealift Command and is involved in the operation and maintenance of US government-owned vessels. The company currently operates five U
Ukraine grain shipping insurance facility debuts Insurance broker Miller has unveiled a marine insurance facility for Ukrainian grain exports, backed by the government in Kyiv. Ukraine has been using a new corridor heading south which hugs close to its shoreline from three Black Sea ports to shift its grain exports in the wake of Russia deciding to walk away from a ...
Shipping of carbon dioxide readies to go mainstream Busy shipyards will need to find space to build half a century of liquefied carbon dioxide (LCO2) carriers between now and the end of decade as the shipping of CO2 goes mainstream. Currently there are just four small vessels capable of carrying LCO2, of which only one was purpose built, the other three being converted ...
Shipping's long tail cause for concern in meeting green goals Shipping's long tail is going to be the stumbling block to achieving decarbonisation goals. While the container and gas shipping sectors are comparatively consolidated giving them access to greater capital for the green transition, the dry bulk and tanker segments remain hugely fragmented and it is these myriad one-, two-, three-ship strong companies around the ...
September 2023 Review One of the biggest operators of large bulk carriers in the world will remain in Korean hands with Woori Private Equity Asset Management Co selected as the buyer of Polaris Shipping in a deal that also sees HMM, the country's flagship, and state-run Korea Ocean Business Corporation (KOBC) come onboard as minority investors. The whole ...
Tankers face a taxing time in Nigeria As Russia and Saudi Arabia continue their policy of driving up prices by withholding oil from the market, the ripples are spreading more widely including at home. Russia has temporarily banned exports of gasoil and diesel as domestic prices have been spiralling. That's because refiners have been exporting to more profitable export markets, causing shortages ...
Dry cargo is finally back on track China's iron ore imports so far in 2023 have exceeded the record set in 2021 with imports from Australia up by around 2.5%, from Brazil around 7% and from Canada around 4%, offsetting falls in imports from South Africa of around 5.5% (no BRICS loyalty premium for South Africa there). Chinese steel mills reported low ...
Containers face severely deteriorating conditions Peak season should be here but the momentum that built up in container shipping rates in August evaporated in September. Analysts at Linerlytica report that sentiment "continues to deteriorate" and that freight rates are falling despite shipping lines blanking increasing numbers of sailing. Freight rates are back to 2018 levels on many routes with the ...
COSCO bulk divisions embrace electronic bills of lading Electronic bills of lading (eBL) for energy transportation and bulk shipments are now happening with COSCO's bulk divisions joining the Hong Kong-headquartered blockchain platform Global Shipping Business Network. Traditionally, both bulk and energy shipments have relied heavily on letters of indemnity (LOIs) as proof of shipment ownership to authorise cargo release to the consignee in ...
John McLaurin to step down at the Pacific Merchant Shipping Association After 28 years there's going to be a change at the helm of the Pacific Merchant Shipping Association, a body that acts on behalf of liners and terminals on the US west coast. John McLaurin has announced his intention to retire early next year. He is set to be replaced as PMSA president by Mike ...
Will a reversal of fortunes position shipyards for the era of decarbonisation? After three torrid years of low profitability, a combination of falling costs and rising prices put yards on a stronger footing, writes Stuart Nicoll from Maritime Strategies International. The current newbuilding cycle is proving remarkably persistent, with demand for containerships and LNG carriers consistently exceeding expectations over the last year. MSI's Q3 shipping market reports ...
Ship Concept 2030: Are cargo owners doing enough to drive change? Who will drive the ship changes coming up? Splash takes a look at what customers are doing. For Khalid Hashim, the veteran managing director of Thai-listed dry bulk owner Precious Shipping, the way to ensure shipping goes green rapidly is with three regulations - a carbon tax, a hard stop to any fuel-burning ships delivered ...
Retail pendulum swings as New York volumes fall in August East coast's largest port sees volume fall 24.1% below last August, which was its strongest month on record, but also...
Quality of life and safety at sea top priorities for US seafarers US Maritime Administrator Ann Phillips spoke to Lloyd's List during London International Shipping Week
SSY's Adland slams EU ETS The EU ETS will 'almost certainly' increase overall emissions and risks becoming a tax grab without a clear path for...
Diana Shipping orders methanol dual-fuel bulkers in China Greece-based owner will pay $46m each for vessels due in four years' time
MAN to deliver first ammonia engine in late-2024 First two-stroke dual-fuel ammonia engine is set for delivery at the end of next year. Full commercial release will take...
Bulker carrier values stabilise following summer dip Capesize bulk carriers remain highly sought after, with the smaller segments also seeing increased interest again, says Braemar senior shipping...
Alex Vullo to head Gallagher P&I practice Broker's book quadruples over past decade
Baltic Dry Index hits year-to-date high China's demand for raw commodities used in shipbuilding, auto manufacturing and renewable energy is said to support dry bulk imports
CMA CGM boosts methanol boxship orderbook by adding eight mid-sized vessels at China's SWS Deal underlines CMA CGM's further bet on the alternative fuel, seen as a strong contender to be shipping's next carbon-neutral...
Ship finance: Where next? The lending climate has eased up, according to leading professionals in the niche. But do not expect a return to...
Larger box tonnage moves to north-south trades Newbuildings are increasing the average size of the boxship fleet. Carriers are now deploying larger tonnage to alternative trades
Maritime trade sees slow recovery but faces decarbonisation challenges Shipping faces multiple challenges as it resumes growth following the pandemic. Balancing supply and demand while decarbonising fairly will be...
Daily Briefing Miller open to enquiry on Ukraine war risk cover | Flood of newbuilding capacity bites at boxship charter market |...
Inland23: US trucking costs rising amid weak demand Rising labor costs - both behind the wheel and at the warehouse, elevated diesel prices and cross-dock scarcity in major cities are making it more costly to run transportation networks, attendees at the Journal of Commerce's Inland Distribution Conference were told.
Norfolk Southern expands Florida service through deal with FEC The Class I railroad said it and Florida East Coast Railway are looking to take more trucks off the road with the additional intermodal service offering.
New Shanghai contract fails to budge skeptical carriers on container futures The concept of widespread use of a hedging tool continues to face an uphill battle within the container sector years after it was introduced, especially among carriers whose buy-in is considered essential to confer legitimacy on the fledging market.
Montreal's uncertain mega-project opens window for Halifax, Saint John Halifax and Saint John are expanding their container terminals as Class I railroads see an opportunity to serve major inland destinations from the Eastern Canadian ports.
Baltic Dry Index hits 11-month high as capesize bulkers continue to soar Average spot rates for smaller bulkers also push Baltic Dry Index upward
Jefferies lowers container ship charter rate outlook as 'hard part begins' for operators Container lines face challenge of propping freight rates as newbuildings loom, analyst Omar Nokta says
Growing leasing giant Maritime Partners closes $600m financing with new and existing lenders Deal with Atlas SP, Bank of America and Deutsche Bank follows major tanker transactions
Diana Shipping dives into methanol-fuelled bulkers with $46m order for two kamsarmaxes New York-listed shipowner last ordered a newbuilding in January 2014
Jinhui strikes to buy UAE ultramax after selling veteran supramax Hong Kong owner snaps up a 2014-built bulker from Kenneth Fjeld and GV Surajh venture
Auctioned Morfini tanker attracts wide interest, despite legal row Greek buyer is believed to have swooped on 14-year-old product carrier
Green Seas: Advertising complaints fuel debate over cruise's LNG sustainability claims Newsletter on the environment and the business of the ocean talks to Opportunity Green and Carnival Corp after environmental group targets cruise advertising
A 'royal' appointment: Sir Timothy Laurence becomes patron of IMRF Princess Anne's husband takes over from former IMO chief Efthimios Mitropoulos
UN backs levy on carbon emissions to pay for soaring decarbonisation costs Trade and development body warns that low-income nations are at risk of losing out in the drive to green shipping
QatarEnergy inks 17 slots at HHI as it fires gun on Phase 2 of huge LNG newbuilding project LNG producer confirms almost $4bn worth of berths at single yard
Vroon completes $1bn restructuring as it sells 30 offshore ships to Britoil Dutch owner also offloads two management offices to Singapore group as it focuses on core operations
Neu Seeschiffahrt seals Wisdom newcastlemax buys and is hungry for more Hamburg-based bulker owner plans to expand its tonnage in the coming months
UN report outlines soaring costs of decarbonising shipping Trade and development body warns that low-income nations are at risk of losing out in green drive
QatarEnergy inks 17 slots at HHI as it fires gun on Phase 2 of huge LNG newbuilding project LNG producer confirms almost $4bn worth of berths at single yard
Seacor Holdings sells off US tug fleet to domestic rivals Seabulk subsidiary will continue to operate Caribbean assets
Speculation swirls about next steps for S&P supremo Sebastian Davenport-Thomas Former Braemar shipbroker may remain off the radar for months
Big-name Greek owner singles out inflation as biggest risk to shipping at TW Athens forum Major bulker, tanker and gas carrier owners discuss geopolitics, decarbonisation and inflation at TradeWinds Shipowners Forum
MSC brought in to revive Spain's state rail freight company Cooperation deal could see subsidiary Medlog assume management control
Russia's new shadow shipping dynasty sets up shop in Dubai Nearly half of 'shadow fleet' tankers involved in the Russian trade are registered in the UAE, says report
Alexander Varvarenko's Shipnext secures 'substantial' Belgian grant for AI project Cargo platform will use money to strengthen its predictive analytics for shipbrokers
Golden Energy Offshore offloads subsea support unit acquired in Vroon deal SSV sold for €15m at 'substantial profit'
Stolt-Nielsen profit tipped to rebound in fourth quarter as chemical tanker rates rise Third quarter will see dip after recent market weakness, Fearnley Securities forecasts
Broker Miller offers war risk insurance for Ukraine grain shipments New facility is backed by vessel tracking technology and Ukraine state
Shots fired as bulker fails to stop during drugs raid off Ireland Arrests made as veteran vessel Matthew boarded by naval forces
WinGD zeros in on first commercial ammonia engine delivery Discussions shifting from yards and engine makers to shipowners, charterers and fuel producers
Monjasa welcomes more trainees as it expands programme to Athens and Shanghai Danish fuel and tanker group takes on new recruits for the sixth year running
Resurgent offshore vessel markets approaching 10-year peak, Clarksons says Recovery for oil and gas support ships is well-set, but inflationary dangers lurk
Maritime Partners acquires AP Moller-Maersk's US-flag tanker arm Deal comes hot on the heels of acquisition of Jones Act tanker fleet from AMSC
Secondhand S&P market primed for Japanese sale-leaseback revival The cheap yen and plenty of liquidity should help refinancing deals get off the ground, shipbrokers say
Port Houston sees falling container traffic in August Cargo volumes were a mixed bag for Gulf Coast ports in August, with Corpus Christi and New Orleans reporting gains, while Houston saw a 20% decline in container shipments.
WestJet adds new cargo route to Havana WestJet Cargo and Lufthansa Cargo are connecting new cities to their narrowbody freighter networks.
August volumes fall 28% from year-ago highs at Port of Savannah The Georgia Ports Authority reported a dip in August volumes at the Port of Savannah. But volume increases for rail traffic and roll-on/roll-off cargo were bright sports for GPA last month.
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