Navy thwarts another Houthi hijacking attempt Following the hijacking of the car carrier Galaxy Leader, which is owned by a company associated with Israeli business man Rami Ungar, attacks on ships with Israeli ties by the Iranian-backed, Yemen-based
Lhyfe to construct green hydrogen production site in French port Lhyfe, a global player in the production of renewable green hydrogen for transportation and industrial applications, has won Nantes Saint-Nazaire Port's call for proposals (AMI) launched at the end of 2022 to construct a green hydrogen industrial production and distribution site in Montoir-de-Bretagne (Loire-Atlantique). The call for proposals, issued on 21 November 2022, concerned the availabili
Japan-US container exports near 55,000 TEUs in October Japan's container exports to the United States reached 54,409 TEUs in October, translating to a 7.9% increase over the same month in 2022. On the other hand, they fell 10% from the previous month's figures. Direct exports accounted for 36,181 TEUs, representing a 25% year-over-year increase, while transshipment exports declined by 15% to 18,228 TEUs. Containers transshipped in South Korea plunged
Wan Hai Lines opens new agency office in Maldives Wan Hai Lines launched an agency office in Maldives to increase the efficiency and quality of customer service in light of the significant local demand in Indian inland and South Asia. The ongoing economic stimulus strategy will aid in the revitalisation of the domestic economy, and domestic demand is likely to rise considerably, according to the Taiwanese ocean carrier, which feels optimistic ab
DP World cuts carbon emissions in UAE using renewable energy This year, DP World reduced its carbon footprint in the United Arab Emirates (UAE) by almost 50% by utilising renewable energy from the Dubai Electricity and Water Authority (DEWA). So far this year, DEWA has issued over 200,000 International Renewable Energy Certificates (I-RECs) to DP World. These ensure that the power consumed is produced from renewable sources, with each equating to one megaw
Are carriers sailing into 2024 bloodbath? Diving freight rates have inevitably led to plummeting carrier Q3 returns and the outlook for the full year is bleak while next year's expectations have sunk well below the waterline. Volatility in carrier earnings is a concern with Alphaliner reporting that Q3 carrier returns had diminished to 1.5%, well below the 2019 average of 2.4% and with pre-Covid margins averaging -0.2% in the ten years b
Suspected drone attack on Israeli-owned container ship The 2022-built, 15,264 TEU container ship CMA CGM Symi was hit by a suspected Iranian drone in the Indian Ocean, according to an American defense official. The vessel, which is sailing under Malta's flag, was suspected to have been targeted by a triangle-shaped, bomb-carrying Shahed-136 drone while in international waters, and according to AP report , the drone exploded, causing damage to the box
ONE announces new service to link West India with North America Singaporean box line Ocean Network Express (ONE) will launch its new West India North America (WIN) service connecting India's west coast and the United States East Coast. The new WIN service will offer a weekly route from Hazira, Nhava Sheva and Mundra to New York, Norfolk, Savannah and Charleston. The service will also call at Damietta, Algeciras and Jeddah, which offers further connection to M
Wärtsilä to supply advanced simulators to new Finnish maritime training facility Technology group Wärtsilä will supply its latest simulator technology for a new maritime training centre in Finland. The order has been placed by South-Eastern Finland University of Applied Sciences (Xamk) and the Joint Authority of Education of Kotka-Hamina Region (Ekami) and was booked by Wärtsilä in November 2023. The simulator will be installed in Xamk's new campus in Kotka, Finland, where al
Safe Bulkers sells 2015-built kamsarmax New York-listed Greek dry bulk owner Safe Bulkers has entered into an agreement for the sale of an eight-year-old bulker. The company sold the 2015 Chinese-built, 82,000 dwt kamsarmax at a gross sale price of $26.6m and an estimated forward delivery in January to February 2024. According to Safe Bulkers president Loukas Barmparis, the "attractive" ...
Genco confirms capesize play US dry bulk owner Genco Shipping & Trading is pressing ahead with its fleet renewal programme, having confirmed recent reports of two modern capesize additions and the exit of an older non-core unit. The New York-listed firm has taken delivery of the 2016-built scrubber-fitted Genco Reliance and Genco Ranger splashing out around $86m for the ...
Fugro takes full control of SEA-KIT International Dutch surveyor Fugro has reached a binding agreement for the acquisition of the remaining shares in uncrewed surface vessels (USVs) specialist SEA-KIT International. The transaction is expected to be completed before the end of 2023, subject to customary closing conditions. SEA-KIT will continue to provide clients with high-quality USV products for cost-effective operations with enhanced ...
Octopus Energy buys stake in English offshore wind farm Octopus Energy's generation arm has bought a 12.5% stake in the 660MW Walney Extension wind farm offshore England. Situated in the Irish Sea off the coast of Barrow-in-Furness amongst a cluster of offshore wind farms, the wind farm produces clean energy for nearly 600,000 homes using its 87 turbines. It has been operational since 2018. ...
Boa unveils new semisub heavy lift barge design Norway's Boa has revealed its in-house design for future semi-submersible heavy lift barges. Boa is targeting the selection of a shipyard within 2024 while the first barge will be in operation in 2026. The barges will be able to handle requirements from any industry or segment requiring heavy loads, large footprints, and extreme submersing depths. ...
One dead, 12 missing as cargo ship sinks off Greek island A major rescue operation was launched over the weekend after a cargo ship with 14 crewmembers sank in the rough seas off the coast of Lesbos island in Greece. The Comoros-flagged ship sank 4.5 nautical miles southwest of Lesbos early on Sunday. According to the Greek coastguard, five cargo ships, three coast guard vessels, air ...
Chaotic scenes in the Red Sea as Israeli-linked ships are targeted In chaotic scenes not seen since the 2011 peak of the Horn of Africa piracy crisis, global merchant shipping faced a weekend of terror wrought by Houthis, Iranians and the reemergence of pirates off Somalia. At the centre of all attacks have been ships with links to Israel, and the incidents of the past 72 ...
ICBC Leasing in for kamsarmax newbuild at Chengxi Chinese leasing house ICBC Financial Leasing has tapped compatriot Chengxi Shipyard to build one kamsarmax bulk carrier. Brokers at Clarksons report the 82,000 dwt vessel will deliver from the CSSC-affiliated yard in 2026. Chengxi has been very active with multiple newbuildings booked in the past couple of months. The shipbuilder has sealed over 30 newbuilding ...
Van Oord nominates new chief executive Dutch marine construction firm Van Oord has nominated Govert van Oord as the new chief executive officer (CEO) of Van Oord. This means the company's leadership will go from the 4th to the 5th generation of the Van Oord family. The formal appointment will happen at Van Oord's annual general meeting of shareholders on April ...
Benelux Overseas books gas carrier newbuilds in China Benelux Overseas of Greece has signed up for the construction of two midsize gas carriers in China. Brokers in Athens have linked Kostas Angelou's firm to a pair of 48,000 cu m units at CSSC-affiliated Huangpu Wenchong. The first ship is due for delivery in October 2026, while the second one will follow in the ...
Sea Pioneer signs for up to four MR tankers at K Shipbuilding Greek owner Sea Pioneer Shipping has contracted up to four MR product tanker newbuilds at South Korea's K Shipbuilding. Industry sources say the Vasilis Bacolitsas-led company paid around $45m per 50,000 dwt ship, with two firm deliveries in 2025 and options for two more vessels attached to the deal. Brokers at Allied said the early ...
Two tankers join Caspian Integrated Maritime Solutions fleet Abu Dhabi's AD Ports Group with KazMorTransFlot (KMTF), the national shipping company of Kazakhstan, fully-owned by the national Kazakhstan oil company KazMunayGas (KMG), has announced the acquisition and commencement of operations of two vessels designed for the transportation of Kazakhstan's oil across the Caspian Sea. The two oil tankers have been named Liwa and Taraz ...
K Line car carrier completes landmark roundtrip using autonomous navigation system A Kawasaki Kisen Kaisha (K Line) car carrier has completed a 1,600 km roundtrip voyage across Japan using an autonomous navigation system as part of the Meguri 2040 fully autonomous ship project administrated by the Nippon Foundation. The Hokuren Maru No. 2 went back and forth between the ports of Hitachi and Kushiro. The autonomous ...
Singapore's first fully electric cargo vessel launched Singapore's first fully electric cargo vessel has taken to the waters. Developed for Yinson GreenTech's marinEV brand, the Hydromover features swappable batteries, has zero emissions, and can reduce operational costs by up to 50% compared to a conventional vessel. The lightweight, 18.5 m long Hydromover can carry up to 25 tonnes of cargo. Eirik Barclay, ...
Capesize earnings hit 18-month high Capesize earnings have hit an 18-month high, according to Baltic Exchange data, reaching $31,671 per day. Iron ore exports in...
Israeli shipowners set to pay more for Red Sea war risk cover after attacks Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week
Genco fleet renewal continues with $43m capesize acquisition Acquisition of the 2016 built Genco Reliance adds to a previously announced acquisition of a 2016-built capesize, both scrubber-fitted
IEA warns of carbon capture pitfall Inconceivable volumes of carbon capture and storage would be needed to align with 1.5°C policy targets, IEA argues
The week in charts: Container freight rates remain weak | Caspian fleet grows | First Greece-owned tankers return to load Venezuela oil Monthly LA/Long Beach volumes continue above pre-pandemic levels, UK-owned ship facilitates first international export from Russian occupied Mariupol, and Maersk...
Container freight market unlikely to revive before 2025 Slower steaming can absorb some capacity by requiring extra ships on loops. But absent significant scrapping, lay up will need...
Israel-linked shipping re-routes as Yemen threat escalates Pirates or Houthis? The identity of the attackers who boarded Zodiac-owned Central Park over the weekend remains unclear. But the...
Ukraine seeks defence reinforcements from partners to protect Black Sea corridor More than 5.6m tonnes has been exported under Ukraine's self-managed route with analysts saying it is now more effective than...
The week in newbuildings: Tankers abound Greek shipowners have been particularly active in ordering medium-range and long range two product tankers, while two gas carrier operators...
K Line ship completes test voyage with autonomous navigation system Japanese company says the system can navigate routes and steer to avoid collisions
Earnings pressure driving seafarers to pay to get work, says charity Filipino seafarers are still paying illegal recruitment fees to get work. Causes could include competition for jobs, lack of training...
No easy fix for Panama Canal congestion Short-term measures are being taken to save water, where possible. But there is no simple or answer to the long-term...
Fire-damaged MSC post-panamax boxship sold for recycling The 8,034 teu MSC Rita is the largest containership to have been sold for recycling since the normalisation of container...
Daily Briefing China floats idea of mega port to rival Singapore | Geopolitics and dark shipping to dominate IMO assembly | Danish...
Control of US LTL capacity in 2024 hangs on sale of Yellow terminals An auction of Yellow's 174 owned terminals is scheduled for Tuesday, with winning bids to be disclosed on Friday while a separate battle continues over 149 leased terminals.
ONE readies India-US East Coast service as part of 2024 network rollout The carrier is looking to expand beyond its two current services jointly offered with other liners with a standalone service meant to take advantage of the growing shift in sourcing from India.
Maersk offloads remaining position in Hoegh Autoliners $169m share sale AP Moller-Maersk still holds a seat on owner's board of directors
Capesize bulker market jumps 13% in a day to reach six-week high amid Atlantic tonnage shortage Futures market also progresses on Monday as sector continues robust upward trend
Podcast: Tackling the rainfall crisis that's crimping the Panama Canal Audio edition of Green Seas interviews the head of the canal authority's water department about short and long-term solutions
Safe Bulkers sells kamsarmax as it phases in Phase 3 newbuildings Bulker owner sells vessel for almost $4m over market value
Cost of EU carbon allowances to be included in capesize freight assessments Market agreed that cost of carbon should be included in freight for voyages between South America and Europe from 1 January
Future fuels: Biofuels are a starting point on the path to zero emissions but the future is less certain Questions over sustainability, cost and availability hang over the clean fuel
Performance Shipping logs slight earnings dip as day rates declined in third quarter Athens tanker company grows revenue as fleet expanded at the end of 2022
Winter tanker upside could be weakened by incoming Opec+ decision VLCC rates could see a $22,000 swing, depending on the supply decision this week
Swire Projects kick-starts 'semi-liner' transpacific sailings for project cargo New service comes in response to rising demand for semi-regular breakbulk and project-cargo transport avoiding the Panama Canal
Clarksons says Chinese yards winning most orders as consolidation keeps prices high Analyst Trevor Crowe calculates that shipbuilders' forward cover is now second only to the 2009 boom
Swire Projects kickstarts 'semi-liner' transpacific sailings for project cargo New service comes in response to rising demand for semi-regular breakbulk and project-cargo transport avoiding the Panama Canal
EU envoy vows to ramp up crackdown on Russia sanctions busters Sanctions envoy David O'Sullivan said member states have assured him that enforcing sanctions is a priority
Eni's Tango FLNG unit set to start tow to Congo site Floating LNG production unit shown offloaded from heavy lift vessel in Angola
Panama Canal launches 'special auctions' for ships stuck in queues But analysts do not see a priority shift from LNG carriers and boxships
HMM slaps emissions scheme surcharge of up to $67 on boxes South Korean owner joins other big lines in seeking to pass on 'significant' cost of European levy
Dorian LPG linked to single giant ammonia carrier order at Hanwha Ocean Okpo-based shipyard secures its second VLAC order as demand for the vessel type mounts
Future fuels: Bio-LNG counts down to liftoff as European regulations loom Volumes growing but remain pricey to owners come to terms with the cost of decarbonisation
Van Oord appoints fifth generation owner Govert van Oord as new CEO Dutch shipowner will nominate current dredging boss to replace long-serving Pieter van Oord
Fugro gets full ownership of autonomous tech firm SEA-KIT UK company has made a name as a leading uncrewed vessel developer
Bulkers stuck as Sierra Leone closes port following armed clashes Capital shut down and borders sealed after attack on prison and barracks
Greece's first FSRU heads out to site from Singapore GasLog's long-planned regas baby emerges from Seatrium's yard following its conversion
MSC consigns fire-damaged container ship to the scrap heap Only a handful of container ships and bulkers were sold into recycling markets over the past week
Rem Offshore scoops charters for seven ships worth more than $140m Age Remoy company locks in rates in strong offshore markets
Clarksons poaches Leme Chartering brokers to spearhead Brazilian dry bulk drive Team of four joins UK giant in Rio de Janeiro as global footprint grows
Aegean Shipping turns to Cosco to build its first ice-class tankers Cosco HI Yangzhou is the Greek owner's favourite shipyard in China
Fire on OSV highlights dangers of remote Southern Ocean operations, Australia says Accident report says crew fatigue and watchkeeping practices contributed to incident on the MPV Everest in 2021
Harland & Wolff takeover bid for Scilly Isles ferry firm rejected UK shipbuilder says there is a clear strategic, operational and financial rationale for the acquisition
Latitude Brokers reveals new hires as it expands Singapore P&I division Marine insurance broker's Hong Kong office also has new team member as it moves into the superyacht realm
Caspian Integrated Maritime buys two 'state-of-the art' Damen-built tankers Joint venture's newly acquired tanker pair to operate shuttle service in the Caspian Sea
Singapore debuts first 'zero emission' electric cargo vessel Vessel will serve as a 'living lab' for ship designers and operators, says builder
White House gives Flexport shoutout for sustainable aviation fuel The White House recently publicized Flexport for facilitating purchases of sustainable aviation fuel because of the California connection to Asia-Pacific trade and sustainability, although the program isn't particularly novel.
Zim container ships divert as threat to Israel-linked vessels mounts There has been a surge of attacks and threats targeting Israel-linked ships, including one incident where the U.S. Navy came to the rescue.
Biden administration announces massive logistics plan The Biden administration has announced a huge plan to tackle issues plaguing the U.S. supply chain that covers several cross-government partnerships.
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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