WETA completes four ferry clean air conversion project The San Francisco Bay Area Water Emergency Transportation Authority (WETA) and Bay Area Air Quality Management District (Air District) reports that its Gemini Class Clean Air Conversion Project has been completed, resulting
Cargo vessel completes landmark autonomous voyage Kongsberg Maritime has successfully demonstrated a range of remote and autonomous technologies on a cargo vessel operating off the coast of Norway. The test trip is seen as one of the most
Wrong size bearing led to $1.1 million OSV engine room fire An offshore supply vessel (OSV) engine room fire last year was caused when an incorrectly sized bearing led to an engine failure, the National Transportation Safety Board says. On May 27, 2022,
Drewry's World Container Index drops this week Drewry's composite World Container Index (WCI) decreased by 2% to US$1,685.32 per 40ft container this week. Source: Drewry World Container Index, Drewry Supply Chain AdvisorsThe index has dropped by 78% when compared with the same week last year. The latest Drewry WCI composite index of US$1,685 per 40-foot container is now 84% below the peak of $10,377 reached in September 2021. Additionally, it
Houston Ship Channel generates over US$900 billion economic value to the US Results from the John Martin Associates study showed that in 2022, the Houston Ship Channel generated US$$906 billion of economic value to the United States, representing a 13% increase since 2018, when the study was last conducted. Marine cargo activity at the Houston Ship Channel terminals generated US$439 billion of economic value for the state of Texas. Additionally, in 2022, the Houston Ship
MSC's Swan service reinstated to North Europe and Poland MSC's Swan service, which links main ports in China with North European ports in Benelux, Gdynia, Gdansk and Klaipeda, is being reintroduced as a standalone MSC service. The first westbound sailing from Asia will start on 9 June. MSC pointed out that the Swan service will offer one of the fastest transit times between China, the Benelux countries, Poland, and the Baltic countries. Swan will be th
DP World cut global carbon emmissions in 2022 DP World cut direct carbon emissions from its global operations by 5% last year, according to its latest Environmental Social and Governance (ESG) report, reflecting progress towards its 2040 carbon neutral target. DP World said decarbonisation is a core focus for the company, which has already committed to becoming carbon neutral by 2040 and net zero carbon by 2050 in line with the UAE's 2050 ne
World's largest container ship arrives at Port of Antwerp-Bruges World's largest container ship MSC Loreto arrived in Antwerp, Belgium to load and unload containers at the MSC PSA European Terminal (MPET) in the Deurganckdock. The mega container vessel has a carrying capacity of 24,346 TEUs, becoming the largest boxship to ever call at the port. It is 400 metres long, 61 metres broad, and there are 25 crew members on board. The ship set sail from Ningbo in Chi
Kalmar's Shanghai facility celebrates 6,000th machine Kalmar has announced the completion of its 6,000th machine, which was a reachstacker, at its production factory in Shanghai, China. The production of the machine was finished on 25 May 2023 and the reachstacker will be sent to Bodi International LLC in Mongolia. Customers, workers, Kalmar dealers throughout China and other guests celebrated the company's milestone at a special event. "Over the la
Quanzhou opens first container shipping service to Persian Gulf The Chinese port city of Quanzhou has launched its first container shipping link to the Persian Gulf, with newcomer liner Global Field Line (GFL) starting a Qingdao-Busan-Ningbo-Quanzhou (Shihu)-Nansha-Jebel Ali service on 25 May. The service uses a chartered 1998-built ship, the 1,510 TEU Star Source, which left Qingdao on 17 May and arrived at Quanzhou on 25 May. Star Source was loaded with 66
MSC changes USEC ports on Santana service Swiss/Italian container shipping company MSC has announced that its Santana service will call at Port Everglades in Florida, US instead of Port of Miami. The updated port rotation will be effective from the sailing of MSC Polaris, which will depart the Port of Haiphong on 8 June. MSC pointed out that there will be no changes in the transit times of the service after the swap of the two US East Co
ONE enhances intra-European service Singapore-headquartered container carrier Ocean Network Express (ONE) has announced the upgrade of its IBESCO (IBC) service, adding a direct call to/from the port of Gdynia in Poland. ONE expects the addition of the European port to the service rotation to enhance its coverage within the Europe region and provide customer with direct options between Poland, Scandinavia, Portugal, and other Europe
Tanzania invites global investor to take over operations at port of Dar es Salaam The government of Tanzania plans to start a process of finding a global investor to run operations of the country's major port of Dar es Salaam. According to Tanzania's Minister of Works and Transport, Makame Mbarawa, the preferred investor should meet international standards to be able to make the port more competitive. More specifically, the investor must be an international company with a prop
Upward trend for global bunker indices Global Marine Bunker Exchange (MABUX) indices turned into an upward trend. The 380 HSFO index experienced a rise of US$9.27, the VLSFO index, in turn, increased by US$9.82, while the MGO index recorded a gain of US$8.04. "At the time of writing, the market was in an uptrend," noted a MABUX representative. The Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - experien
Autonomous trial runs progress in Norway Kongsberg Maritime has demonstrated a range of remote and autonomous technologies on a cargo vessel operating off the coast of Norway. The test cruise has been named one of the most complex autonomous journeys at sea so far. The is one of the two vessels that are equipped for remote-operated and autonomous transport demonstrations for ...
Sweden's Ahlmark taps Royal Bodewes for pair of mini-bulker newbuilds Swedish owner and operator Ahlmark Lines has placed an order at Dutch shipyard Royal Bodewes for the construction of two mini-bulkers. Construction of the first vessel has already begun at one of the partner shipyards of Royal Bodewes in the Netherlands, with delivery expected in the second quarter of 2024. The second vessel will be ...
Britoil adds modern PSV Singapore-based OSV owner Britoil Offshore Services has bolstered its fleet with a modern platform supply vessel. The 2023-built DP2 PSV of Ulstein P128 design has been recently delivered and renamed . "The Britoil Journey incorporates a diesel-electric propulsion system and a range of energy-saving features, making it of unparalleled fuel efficiency," the company said. The ...
Hydrogen-powered vessel starts running Nike products inland from Rotterdam Dutch shipping company Future Proof Shipping (FPS) officially launched its first hydrogen-powered inland container ship, H2 Barge 1, in Rotterdam yesterday, claiming it is a zero-emissions vessel. The ship was retrofitted with money coming from state coffers. Earlier in the week, Nike introduced the H2 Barge 1 at its European Logistics Campus in Laakdal, Belgium. ...
Media baron Rodolphe Saadé buys La Tribune Rodolphe Saadé, at the helm of a company that made more profts last year than any other corporate in French history, is increasingly becoming a media mogul to add to his transportation background. CMA CGM, headed by Saadé, announced today it is buying La Tribune, one of France's top business titles, adding to a stable ...
RWE takes over German gigawatt-scale project German utility RWE has become the sole owner of a 1.6 GW cluster of offshore wind farms in the German North Sea by buying out its Canadian partner Northland Power in a deal worth around €35m ($37.5m). RWE has taken over Northland Power's 49% shareholding in the Nordseecluster, consisting of four sites located north of ...
Year-round Arctic voyages spark alarm NGOs have hit out at news this week that Russia will begin year-round voyages from the Arctic to Asia along the eastern section of the Northern Sea Route (NSR) from 2024, an opening of a tradelane with huge implications for the global seaborne map. Clean Arctic Alliance lead advisor Dr Sian Prior said: "If year-round ...
Ørsted and Eversource reach $625m US wind seabed rights buyout deal Danish utility Ørsted has struck a $625m deal to fully take over the uncontracted federal offshore wind lease area it jointly owns with US partner Eversource Energy. In addition to the seabed, which is in early-stage development, an all-cash transaction also includes contracts and partnerships for operational assets in the Northeast. Ørsted will take full ...
TechnipFMC secures up to $250m Shell contract in US Gulf Subsea giant TechnipFMC has secured an integrated engineering, procurement, construction and installation (iEPCI) contract for Shell's Dover development in the US Gulf of Mexico. The deal worth up to $250m will see the New York-listed firm supply the subsea tree systems in addition to the EPCI of the umbilical, riser, and flowline systems. The Dover ...
Companies must ensure they do not cut corners with the rising cost of food Christian Ioannou from marine catering firm MCTC with some important advice to improve life onboard. The recent Seafarers' Happiness Index (SHI) report has sent out an alarming warning to the industry that we must do better by our seafarers. The Mission to Seafarers published its latest report earlier this month which has revealed that happiness ...
A Flag of Convenience is one thing. A Flag of Last Resort is another Sanctions are only going to get more extensive. The past week shows that everybody in the industry - from Ulaanbaatar to...
VLSFO 14 times more likely to be off-spec sulphur in ARA than Singapore, Integr8 report shows Bunker suppliers may be struggling to find low-sulphur gasoil blending components since the sanctions against Russia, as supply from the...
CMA CGM expects downturn to continue throughout 2023 Container line is seeing a 'rapid normalisation' amid 'challenging market conditions'. The first quarter of the year is likely to...
The Lloyd's List Podcast: US lawmakers continue to look at ocean shipping Newly introduced bills, while still an early stage, cover a wide range of topics, including antitrust and alliances, data and...
Ocean Yield confirms $500m deal to buy ammonia-ready bulk newbuilds First of the ammonia-ready newcastlemaxes to be delivered in third quarter of 2024
EU leads on green fuels but strict rules may hinder production The EU is set to adopt the world's first tangible green marine fuel targets in a few months, while also...
Nearly 50 ships wait to join grain deal No ships were registered between May 4-17 in the run up to the Russia's deadline, despite applications being submitted to...
China Merchants agrees further newbuilds with Dalian Shipbuilding New tankers, including those ordered in 2021-2022, are expected to be deployed in the Atlantic market, source said
Electric vehicle transport 'no greater risk', say key ro-ro operators 'Our biggest concern is the transport of secondhand internal combustion engine vehicles,' says Captain Filip Svensson of leading vehicle carrier...
World's first electricity carrier unveiled in Japan to facilitate energy transition The world's first 'battery tanker' has been unveiled in Japan amid plans to catalyse the storage, supply, and utilisation of...
Box freight rates fail to gain momentum in May After a strong month in April, freight rates have fallen back again. But despite the slow progress, they are now...
Safety is rising up the decarbonisation agenda DNV and Lloyd's List look behind the number of casualties in the Safety Trends report to ask why accidents happen...
The case for a more holistic approach to regulation Flawed efficiency projects such as CII have sparked a wholesale review of how regulation is developed. A more iterative and...
Mission to Seafarers raises $1.3m from Japan adventure race Funds will be allocated to several key areas of Mission to Seafarers operations, with a significant portion going to its...
EU Commission approves Inmarsat sale to Viasat European Commission gives green-light to the deal after finding transaction would not raise competition concerns because the parties' market position...
Shipping's carbon ambitions suffer a serious credibility gap In the absence of any certainty regarding fuel availability, the shipping industry is laying down a multi-billion-dollar zero-carbon hedge bet...
Is there a case against prioritising shipping's zero-carbon fuel switch? Has the politicised focus on shipping's eventual fuel transition provided a pretext for inaction and deferred more immediate gains in...
PSA International makes logistics investment in Vietnam PSA's main investment in Vietnam so far is the SP-PSA International Port in Cai Mep, near Ho Chi Minh City...
Daily Briefing Why MEPC 80 will prove pivotal to industry and the future of the IMO | Uncertainty is holding back industry...
Ocean carriers' schedule reliability rose in April amid falling volumes The port congestion in Asia and North America that compromised vessel on-time performance during the pandemic began to ease last fall with declining cargo volumes, and the reliability improvements have accelerated since.
Market headwinds push CMA CGM Q1 revenue, profit sharply lower The carrier's CEO said inflation and destocking in global markets heralded a "phase of normalization" for container shipping.
CBP rules US chassis manufacturer evaded tariffs on China-sourced parts The ruling could place an additional burden on US chassis manufacturers to ensure their subcontractors are using US materials or paying duties on parts from China.
Shippers bemoan lack of progress in ocean visibility despite heavy investment End-to-end supply chain visibility remains an elusive goal for providers in a market where shippers are expecting better data quality than they have seen.
Hydrogen-driven barge debuts on Europe's inland network The drive to decarbonize European inland transport by switching freight from the road to greener alternatives took a step forward this week.
'Super' slow steaming makes a comeback as surplus capacity builds Ocean carriers are pulling all available capacity management levers to address a supply-demand imbalance that is set to widen significantly through 2024.
Dry bulk market falls for second consecutive week as owners keep ships in Pacific basin Sector should improve as China starts restocking its iron ore inventory, Seanergy chief executive says
Podcast: Container shipping follows the leaders on a variety of alternative fuel pathways The audio edition of Green Seas seeks to map out the different ways liner operators are adopting alternative fuels
Diana Shipping takes out $123m in loans to refinance existing debt New York-listed owner posts slightly lower profit for the first quarter but tops analyst estimates
Ocean Yield firms up more ammonia-ready newcastlemaxes for CMB Norwegian owner will buy eight or nine innovative vessels for charter to Belgian group
Editor's selection: Death of a shipping titan, a shadow fleet shift and millennial shipbroking A snapshot of the important and biggest stories of the week produced by TradeWinds' team of international reporters
MSC reinstates another standalone service on Asia-Europe trade Carrier reinstates liner service suspended by 2M partners during pandemic
LNG bunkering action picks up, but questions dog players Prices are down, mid-term fundamentals look positive so what's bugging owners and suppliers?
New Wallenius Wilhelmsen and Klaveness bosses make first share investments Lasse Kristoffersen and successor Ernst Meyer now have skin in the game
Ocean Yield gets 'free lunch' with Interlink bulker charter swap Norwegian owner brings in newer ships after selling 2015-built handysizes
Ocean Yield talks up owner KKR as private equity fund keeps money in the business US giant offers flexibility as no dividend paid for the first quarter
Norden buys Thorco Projects to target general cargo and breakbulk markets Danish firm Thorco Project has a network of five offices around the world
Shadow fleet-linked Gatik reshuffles ships as Indian owner is dumped by Lloyd's Register String of new management companies emerge after operator suffers flag and insurance woes
Bondholders clear the way for earlier dividends at Golar LNG New terms could also bring forward share buybacks at FLNG player
BW LPG launches search for new CFO as Ong departs with immediate effect Singapore-based shipowner says Iver Batik will fill the role on a temporary basis
Eidesvik Offshore offloads first vessel in sale of seismic survey fleet Owner has three more ships to dispose of, as it revealed a bigger loss in the first quarter
Rasmussen prepares Shearwater for $1.8bn IPO as stock value rockets Norwegian investment group has seen value of its stake in seismic shipping company shoot up
Comment: Billionaire shipowners should be judged on how they spend their global wealth Cash-rich owners could play a key role in shaping a sustainable future for maritime but will they grasp the nettle?
Top investors 'exploring options' for Singapore OSV player Atlantic Navigation Company responds to SGX regulator after unusual price movements in Singapore-listed shares
Criminalising an officer's honest mistake sends the wrong message Rather than creating fear of punishment, safety at sea would be improved if it were easier to admit mistakes and voice concerns, writes Torkel Soma of SAYFR
What to look for as logistics industry preps for back-to-school season Back-to-school season is near, and planning is underway among shippers and logistics companies.
Project44 cuts workforce, warns of changing FreightTech investor sentiment "Investors have shifted from a growth-at-all-costs mindset to focus on the path to profitability and scalable growth. No startup, not even the rocket ships of logistics technology, will be immune to these trends," says project44 founder and CEO Jett McCandless.
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