K-Line opts for NAVTOR 24/7 global fleet monitoring and support solution Japanese shipping giant K-Line (Kawasaki Kisen Kaisha Ltd.) has signed an agreement with NAVTOR that will see the Egersund, Norway, headquartered technology company supply its NavFleet solution as a cornerstone of the
Kirby christens first plug-in diesel hybrid electric towboat in U.S. On August 25, Kirby Inland Marine christened the first plug-in diesel hybrid electric towboat in the U.S., the M/V Green Diamond, on the water in Channelview, Texas. Following the ceremony, the vessel
Brunvoll Mar-El electrical propulsion picked for new fast ferry operation Norway's Fjord1 and Brødrene Aa have selected Brunvoll Group subsidiary Brunvoll Mar-El as the system integrator and electric propulsion systems supplier for three fast ferries that Fjord 1 will operate on city
Zelensky: Second ship safely out of Odesa A second ship has used the temporary safe corridor sponsored by Ukraine to leave the port of Odesa and reach Romanian waters, according to a post on X (formerly Twitter) by Ukrainian
SM Group reverses HMM takeover dream Samra Midas Group, parent of HMM's compatriot peer SM Line, has U-turned on its plan to acquire the state's interest in South Korea's flagship container carrier. It is understood that SM Group did not submit a bid for HMM when entries closed on 21 August, even though its founding chairman Woo Oh-hyun was the first to make known his intention to acquire the company. HMM came under state control in
Simon Lembke appointed as new member of DAKOSY Board Simon Lembke has been appointed by the Supervisory Board to the Board of Directors of DAKOSY AG, effective 1 September 2023. Lembke will begin his new post on 1 September 2023, with substantial expertise and many years of experience in the DAKOSY business areas of data centre management, community systems, and customs applications. "For more than 40 years, we have successfully mastered all new te
Port of Savannah enhances its box handling capabilities with four new electric cranes The Port of Savannah acquired four Super Post-Panamax ship-to-shore cranes on 24 August increasing the crane fleet at Garden City Terminal to 34 machines following the retirement and recycling of four older cranes. The all-electric cranes were designed by Konecranes of Finland and came on the vessel BigLift Barentsz. When fully assembled, two of the cranes will stand 90 meters tall and the other
Maersk Supply Service to cut over 100 jobs as it streamlines operations Danish offshore energy contractor Maersk Supply Service is scaling down its business, with over 100 workers impacted by the move. The Lyngby-based firm acquired by A.P. Moller Holding for $685m in March said it will no longer take on new turn-key solutions projects as it plans to focus on offshore wind and offshore support vessels. ...
Absolute zero-focused North Star to power vessels using offshore wind As one of the companies committed to absolute zero emissions, OSV operator North Star Shipping has made one more step towards making that a reality with a new partnership with Maersk's offshore charging solution provider, Stillstrom. The two signed a Memorandum of Understanding (MoU) to accelerate the adoption of offshore charging and vessel electrification technologies ...
South Korea takes the next step forward in autonomous shipping The shipping industry has taken another important step towards the era of unmanned ships with the delivery of an LNG-powered capesize bulk carrier in South Korea fitted with artificial intelligence (AI)-based machinery monitoring and safety systems. The 180,000 dwt , built by Hyundai Samho Heavy Industries for compatriot shipowner H-Line, is claimed to be the ...
Hayfin pounces on TRF suezmax Hayfin Capital Management has been linked to a suezmax tanker buy from US owner Transportation Recovery Fund (TRF), whose shipping business is run by Fearnleys-linked TRF Ship Management in Oslo. Multiple brokers reported the UK-based shipping investor paying between $67m and $68m for the built by New Times Shipbuilding in 2016. The ship was part ...
Wild weather and export bans have global rice trades at boiling point The global rice trades are in severe flux with floods wiping out crops in northern China and top exporters instituting de facto export bans. India, the world's top rice exporter, has put out export bans and export taxes on all varieties of rice, citing food security concerns, while neighbour Myanmar, the world's seventh-largest rice exporter ...
Boskalis adds to offshore energy fleet Dutch offshore contractor Boskalis has expanded its offshore energy fleet with the acquisition of the 2009-built pipe-laying vessel from TechnipFMC's UK arm. The pipe-layer, to be renamed the Boka Ocean, is currently in the Port of Rotterdam being prepared for the modification to a cable-laying vessel. No financial details have been disclosed. According to Boskalis, ...
Lamprell wins NPCC contract UAE-based fabricator Lamprell has secured a contract from National Petroleum Construction Company (NPCC), part of National Marine Dredging Company (NMDC), to build five jackets for an oil and gas project in the Middle East. The project scope consists of the fabrication, painting and load-out of jackets and boat landings with an optional scope, which includes ...
Hanwha Ocean completes DSME rebranding Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering (DSME), said Sunday that it completed the rebranding process at its Geoje shipyard in South Gyeongsang Province, almost three months after Hanwha Group took over the cash-strapped Korean shipbuilder in May. The yard's four gigantic orange cranes are now adorned with Hanwha Ocean's new logo (pictured). DSME, ...
DP World cements position in Gujarat with $510m joint investment The Gujarat coastline on India's west coast is getting increasingly crowded with boxport developments. Adani Group has had a presence in the state for many years and now Dubai's DP World is entering the area, coming to an agreement with Deendayal Port Authority, formerly the Kandla Port Trust, to develop a 2.19m teu greenfield site. ...
Shell taps Seatrium for Gulf of Mexico FPU work Singapore's Seatrium, formerly known as Sembcorp Marine, has signed a Letter of Intent (LOI) with oil major Shell to carry out construction work on the Sparta project in the US Gulf of Mexico. Sparta is a deepwater development in the US Gulf of Mexico, some 170 miles off the coast of Louisiana measuring around 4,300 ...
Second stranded ship sails from Odesa On Sunday, a second merchant ship, carrying steel products to Africa, safely reached Romanian waters after leaving the Ukrainian port city of Odesa through a temporary Black Sea corridor. Earlier in August, Kyiv announced it had created a new maritime humanitarian corridor to allow the many ships stuck since war began 18 months to get ...
Economou swoops in for major position in Performance Shipping Greek shipping mogul George Economou has picked up a major stake in fellow tanker owner Performance Shipping. In a regulatory filing to the US Securities and Exchange Commission (SEC), Andreas Michalopoulos-led Performance Shipping said Economou's investment vehicle, Sphinx, a subsidiary of Maryport Navigation, had acquired around 1.03m shares for $1.48m, corresponding to a 9.5% stake ...
Solvang signs for two more VLGCs Norwegian gas shipowner Solvang has added to its orderbook at HD Hyundai Heavy Industries by exercising an option for the construction of two more 88,000 cu m LPG carriers. In a regulatory filing last week, the holding company of the South Korean yard, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), said the European owner ...
BW Offshore refinances Catcher FPSO Oslo-listed BW Offshore has secured a $200m financing package for its floating, production, storage and offloading vessel operating in UK waters. Andreas Sohmen-Pao's owner of six FPSOs said the three-and-a-half-year facility, has been used to refinance its existing senior loan for the Catcher unit. The new loan is priced at a margin of 225 basis ...
K Line rolls out ChatGPT at offices across Japan Shipowner Kawasaki Kisen Kaisha (K Line) has outlined how it is now using artificial intelligence tool ChatGPT for operations at home in Japan. Specifically K Line has decided to use AIplicity Chat powered by ChatGPT across K Line offices in Japan based on the Azure OpenAI Service which Microsoft offers on its Azure cloud. K ...
Cruiseship breaks free from moorings in Mallorca, hits tanker Massive storms across the Spanish island of Mallorca saw the Britannia, the flagship in the P&O Cruises fleet, break free from its moorings yesterday morning and drift across port, hitting the starboard side of a moored tanker called . MV Britannia @pandocruises breaks its moorings in @portdemallorca Palma in a #storm 27 Aug 2023Appears to ...
AMA Capital Partners and asset manager ABL form strategic partnership Boutique transportation and energy-focused investment bank AMA Capital Partners forms strategic partnership with privately-held ABL, which manages over $5bn in...
Overseas Shipholding Group repurchases 3.77m shares in off-market transaction Tampa-based US-flag owner repurchases nearly 3.8m shares in an off-market transaction with Cyrus Capital Partners, while eyeing more share repurchases...
Nordic American Tankers eyeing 'historically strong' third quarter US-listed Nordic American Tankers says geopolitical realities, trade fragmentation, and tight supply of suezmax tankers offer 'a set of interesting...
Economou takes 9.5% stake in Performance Shipping George Economou has taken a 9.5% in Nasdaq-listed Performance Shipping, reasoning that its undervalued shares make it an attractive investment
China Merchants poised for methanol-powered VLCC order as tanker profits surge Chinese owner sees tanker supply tightness persisting, but warns of risks such as speculative ordering and economic crisis
Second merchant ship departs Ukraine using new corridor Lloyd's List Intelligence data shows the ship is about 11 hours away from Istanbul, Turkey. AIS destination suggests it is...
Daily Briefing Russia-linked tankers return to mainstream oil trades | Carrier diversification strategies called into question | Capesizes slump below $10,000 per...
Carriers urged to cut more capacity ahead of China's October Golden Week Carriers will likely need to suspend more services and must act quickly, if they want to shore up freight rates...
ABF's LTL shipments, pricing jump after Yellow collapse ArcBest less-than-truckload (LTL) subsidiary ABF Freight is taking on additional volume and raising rates as a broad realignment of the US LTL sector gains speed.
NVOs chase market share or margin in demand downslope Supply overcapacity coupled with mediocre freight demand has the top 25 trans-Pacific non-vessel-operating common carriers deciding whether to chase lower margin business or suffer volume losses.
Sliding steel demand weighs on MPV sector Weak construction and manufacturing demand, inflation fears and continued economic uncertainty are weighing on global steel volumes, a key commodity for multipurpose vessels.
Domestic container fluidity will pick up when volume rebounds: Schneider Schneider believes once demand picks up for rail transportation, the intermodal industry can return to pre-pandemic levels of productivity for containers.
OSG buys back another $15m in shares from Cyrus Capital New York-listed tanker owner has repurchased almost 17m shares in past 15 months
Yang Ming strikes settlement deal to end bitter dispute with foods shipper Both sides ask to keep secret a deal that could end a container shipping dispute
Capesizes may gain $10,000 per day as Brazil ore exports to China rise, Clarksons Securities says Fleet utilisation may rise 2% if Vale produces extra 15m tonnes of ore, according to Clarksons Group investment arm
Clarksons Securities takes down Eagle Bulk price target but stays bullish on scrubber edge Dry bulk recovery remains elusive, but Connecticut shipowner is well positioned and making money even in continued low market
Jinhui Shipping posts second-quarter loss as supramax dry bulk market loses steam Market pushed downward by higher inflation and interest rates and eased port congestion, Hong Kong-based owner says
Revenue surge delivers NAT another profit as third-quarter bookings signal more to come Net income sinks from first quarter but reverses loss from a year earlier
Grindrod Shipping sells two more bulkers after cash payout US and South Africa-listed bulker owner is shedding two vessels to Greek shipowner Thanassis Martinos
Amazon-backed Amogy set to reveal mystery Norwegian owner behind first vessel Brooklyn ammonia-to-power outfit is nearing the deployment of a tugboat equipped with its system
Australian LNG plants' strike threat goes up a notch on workers' vote Fresh shockwaves rattle already jittery gas markets
Expat Greek ship investor's excursion into politics catches on Distressed asset maestro Stefanos Kasselakis is now making a political investment in Greece's ramshackle main opposition party
Nicolas Saverys' fresh bid to take Exmar private launches today but offer pricing holds Shipowner's interests say bid price 'adequately reflects the fair value' of company amid speculation over potential shareholder resistance
Grindrod linked to two more ship sales after cash payout approval US and South Africa-listed bulker owner said to be shedding two vessels to a Greek shipowner, possibly Thanassis Martinos
JP Morgan doubles down on product tanker newbuildings Banking giant has four methanol dual-fuel 50,000-dwt MR tankers on order at GSI
P&O Cruise ship collides with Elcano tanker after moorings snap Passengers reportedly set to remain onboard P&O flagship while damage assessments are made
Another stranded ship manages to escape war-torn Ukraine Bulker that changed hands during captivity in Odesa is now heading for Africa
Air lubrication pioneer Silverstream builds out leadership team Catriona Savage joins as chief technology officer as London firm completes C-suite expansion
Hong Kong's Courage back in the market for secondhand tonnage Shipowner says second-hand dry bulk market has softened and buying opportunities have emerged
Rebound in trans-Pacific container shipping rates has stalled Asia-U.S. spot shipping rates have pulled back after a strong run-up, implying peak season may have passed its peak.
Florida lawmakers present $30M to Jaxport for new container cranes The Florida Legislature is providing $30 million for two new ship-to-shore cranes that Jaxport says will let more cargo move efficiently through the Port of Jacksonville.
Florida seaports brace for Idalia's impact Florida's ports and Eastern freight railroads are preparing for Tropical Storm Idalia's arrival.
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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