NES wins key WindKeeper SOV contract Turkey's Cemre Shipyard has awarded Norwegian Electric Systems AS (NES) a contract to deliver energy design, and smart control systems for the two innovative WindKeeper Service Operation Vessels (SOVs) ordered at the
Ammonia-fueled bulker design gains ClassNK AiP ClassNK has issued an Approval in Principle (AiP) for a large ammonia-fueled 210,000 DWT bulk carrier design jointly developed by Mitsui O.S.K. Lines, Ltd. (MOL) and Mitsui & Co., Ltd. The vessel's
Alaska wins big in FTA ferry funding awards The U.S. Department of Transportation's Federal Transit Administration (FTA) yesterday announced the recipients of $384.4 million in federal funding for ferries programs, with the Alaska Marine Highway System accounting for a whopping
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Drewry's World Container Index drops Drewry's composite World Container Index fell 2% this week to US$2,046.51 per 40ft container. The Drewry WCI composite index is now already 80% down from the top of US$10,377 in September 2021. It is 24% less than the 10-year average of US$2,694, showing a return to more normal costs, but it is 46% more than the typical 2019 (pre-pandemic) rate of US$1,420. Furthermore, the year-to-date composite
Unit45 and H.Essers develop new diesel-electric reefer Unit45, based in Rotterdam, has developed a new diesel-electric reefer in collaboration with its client H.Essers, which is a Belgian logistics solutions provider. This newly developed diesel-electric reefer was designed with a 900-litre tank, making it 100 litres larger in capacity than the previous version. In addition, the reefer, which features a motor manufactured by Thermo King, has low fuel
Bilbao Port Authority seeks tenders for new container terminal construction The board of directors of the Bilbao Port Authority has unanimously approved the call for a public tender for the building and operation of a box terminal on the central quay of the Spanish port. The central quay is the last large area of the port of Bilbao for which a concession can be awarded. The process is carried out in two stages. The first phase, which is completed, has resulted in an oper
ONE purchases green fuel for Freightliner's UK rail service Ocean Network Express (ONE) has purchased GD+ fuel to cover 100% of the fuel volume required for the new intra-UK service of Freightliner from Southampton to Crewe. The first service started its journey on 17 January 2023 and after Crewe, the train was going to continue its rotation to Freightliner Coatbridge terminal in Scotland, using an electric locomotive, making this one of the greenest rail
FMC reports over 200 charge complaints against ocean carriers since June The US Federal Maritime Commission (FMC) decided to issue a Supplemental Notice of Proposed Rulemaking (SNPRM) that addresses issues commenters raised in response to the unreasonable refusal to deal or negotiate with respect to vessel space accommodations proposed (Docket 22-24) rule issued last September. In fact, the Commission has received more than 200 charge complaints since the Ocean Shippi
Maersk to integrate Hamburg Süd and Sealand Maersk has announced its intention to unify its brands by integrating Hamburg Süd and Sealand. The Danish shipping company believes that by integrating the aforementioned firms into the Maersk brand, it will be able to ease its customers' logistical difficulties. "We realise that our current brand structure doesn't reflect the way our customers have their supply chain structured, and the need the
Paranagua's Container Terminal breaks annual box record exceeding 1.1 million TEUs TCP (Terminal de Conteineres de Paranagua), the operator of the Paranaguá Container Terminal, South America's largest box terminal, ended 2022 with its highest movement in history with 1.16 million TEUs. The record container throughput, translating to a 5% increase compared with the previous year's results, was achieved in a year of record operational productivity and investments aiming to better
India gears up to build US$5 billion container transhipment project off Bay of Bengal Island India is stepping up efforts to counter other established South Asian hub ports, such as Sri Lanka's Colombo, Singapore and Malaysia's Port Klang, which dominate the subcontinent transshipment activity. In a strategic move, New Delhi has cleared a long-contemplated plan to build a dedicated container transshipment terminal at a more strategic port location -- Galathea Bay of Great Nicobar Island
Maersk Supply Service secures major deal for FPSO work in Brazil Maersk Supply Service will start to collaborate with TechnipFMC, after signing an assignment agreement for the comprehensive towing and mooring campaign of Petrobras's Búzios 6 Project (seventh module of Búzios), offshore Brazil. The project will be carried out over almost two years. Moreover, the scope covers the pre-installation of the mooring system and hook up of the FPSO P-78, which will be
Intra-Italy railway line resumes operations amid Yilport's ongoing investments in Taranto terminal The operator Yilport San Cataldo Container Terminal (SCCT) SpA has recently handled the first train commodities since the railway line's reactivation at Taranto's Molo Polisettoriale in southeastern Italy. The intermodal goods train ran on the Bari - Taranto route and was operated with the railway operator GTS and the support of the railway company Mercitalia Shunting & Terminal. Therefore, trade
Port of Rotterdam and STC International organise energy transition management training From 20 to 23 March, the Port of Rotterdam Authority and STC International will host the Port Energy Transition Management Programme in Rotterdam. During this training session, port personnel will learn about the newest energy transition insights as well as the role that ports play in this process. The course is part of various training programmes organised by the Dutch port and its partners. Rot
AB Equipment becomes distributor of Konecranes Lift Trucks in New Zealand AB Equipment, a heavy equipment dealer, is the distributor of Konecranes Lift Trucks throughout New Zealand from 1 December 2022. "Becoming the distributor for Konecranes Lift Trucks in New Zealand enables us to offer our customers greater choice and further strengthen our leadership position in forklifts and access equipment," commented Peter Escott, CEO of AB Equipment. AB Equipment is now able
DOF's board proposes new debt restructuring plan The board of directors of debt-laden offshore vessel owner DOF has decided to submit a new proposal for a restructuring plan to the reconstructor and its financial creditors. The plan, which has already received support from DOF's largest shareholder, Møgster Offshore, with a 31.6% stake, would see the current shareholders left with 3.75% of DOF ...
Moreld Apply awarded significant Aker BP contract Norwegian oil and gas engineering, procurement, construction and installation (EPCI) player Moreld Apply has won a contract from Aker BP for the Edvard Grieg topside modification, which forms part of the Utsira High tie-backs project. The contract, described as significant by the Stavanger-headquartered company, will see the required topside modifications for Solveig Phase 2, Troldhaugen ...
Maersk to consolidate brands Maersk is moving towards a single, unified brand that will see shipping lines Hamburg Süd and SeaLand as well as newer acquired brands like Senator and LF Logistics discontinued and integrated into Maersk. "We believe that by integrating these into the Maersk brand, we will be able to ease logistical difficulties, whilst also offering more ...
Borr Drilling issues $400m bonds for debt refinancing Tor Olav Trøim's Borr Drilling has placed two bond loans to refinance an older convertible due to mature in May this year. The Norwegian jackup rig owner has raised $250m in senior unsecured convertible bonds and another $150m in senior secured bonds. The convertible has a fixed half-yearly interest rate of 5% and matures in ...
Taylor Maritime secures rare early 2024 delivery slot at Japanese yard The Buttery family has used its many decades of relationship-building in Japan to secure a very early delivery berth at a top-tier yard. In a Q4 trading update today, London-listed Taylor Maritime Investments (TMI) revealed it had contracted a 40,000 dwt bulk carrier newbuild in Japan delivering in Q1 next year, something the Ed Buttery-led ...
Fredriksen lifts Euronav stake to 24.99% John Fredriksen has spent the week amassing more Euronav shares via various investment vehicles to the point where he now owns just 0.01% less of the tanker giant than his rivals, the Saverys family. In total, Fredriksen has amassed another 4.785m shares this week taking his total holding to 24.99%, suggesting there are plenty more ...
Freightos celebrates NASDAQ launch Hong Kong-based freight booking platform Freightos started trading on the NASDAQ yesterday under the ticker symbol CRGO after merging with a special purpose acquisition company (SPAC), saying the move will raise more than $80m to fund its growth strategy. Zvi Schreiber, the founder of Freightos commented, "If you are a patient investor who appreciates how ...
RightShip launches ports taskforce Melbourne-based vetting giant RightShip has launched RightPORT, a ports and terminals taskforce covering ESG, safety, sustainability, and crew welfare issues worldwide Yucel Yildiz, ports and terminals manager at RightShip, said: "RightShip's ambition is a zero-harm maritime industry. With more than 40 ports already taking advantage of the ESG solutions provided by RightShip, this announcement fo
MarineTraffic teams with Shipeezi Shipeezi and MarineTraffic have entered into a strategic partnership that will bolster shipment visibility, management and predictability for customers across the supply chain and moving industry at a global scale. The agreement brings together the Shipeezi platform which serves as a horizontal integrator for the supply chain and moving industry and the MarineTraffic Visibility for ...
MOL showcases ammonia-powered newcastlemax design Mitsui OSK Lines (MOL) and Mitsui & Co have received approval in principle (AiP) from ClassNK for the design of a large ammonia-powered bulk carrier. MOL and Mitsui jointly determined the size and specifications of the vessel, and both companies entrusted Mitsubishi Shipbuilding for the design of the vessel. The AiP covers a 210,000 dwt ...
Port Authority of Bilbao moves forward with new container terminal The Port Authority of Bilbao has issued an invitation to tender for the construction and operation of a maritime container terminal on the central quay of the Port of Bilbao in northern Spain. The central quay is the last large area of the port for which a concession can be awarded. One phase of the ...
An urgent appeal to the shipping community: Help the UN avert catastrophe in Yemen War-torn Yemen could soon face environmental degradation of a degree as large as any witnessed in recent decades. Shipping will...
Yemen risk assessment: Direct threat to shipping remains low but collateral damage hazards remain Yemen borders one of the world's most important maritime chokepoints, with more than 22,000 passings through the Bab-el-Mandeb Strait last...
Asset-light Maersk Tankers prepares for product tanker spike Commercial manager of 150 vessels forecasts demand for product tankers to rise by 9% this year, much faster than the...
FMC says charge complaint process proving a success More than 200 charge complaints have been filed with the commission since the enactment of the Ocean Shipping Reform Act...
Boxship orders favour alternative fuel options Container shipping lends itself most readily to adopting new fuels. More than two-thirds of newbuildings will be capable of using...
Tanker asset values remain firm due to Russia trades and negligible orderbook Demand for secondhand tankers for potential Russian business has remained strong into the New Year despite a softening in freight...
Significance of scale lies behind OSM Thome merger While he awaits approval for the new venture, Finn Amund Norbye reveals why shipmanagement is in a strong place, why...
Fredriksen matches Saverys' stake in Euronav as board battle looms Fredriksen's share purchases were previously being described as opportunistic investments, now his actions are being seen as unpredictable
Hafnia chief says investor appetite for tanker stocks is strong The company is not focusing on secondhand acquisitions, given that it bought more than 40 ships during the past two...
Hamburg Süd to go as Clerc stamps mark on Maersk Days after announcing the dissolution of the 2M alliance, Maersk is making more major changes. Move will see the removal...
Pacific Carriers to study methanol as alternative low-carbon fuel for fleet ABS will evaluate the means and impact of retrofitting a PCL vessel with a propulsion system powered by methanol, as...
Mitsubishi Heavy Industries joins CO2 feasibility study in Japan Partners plan project for separation, capture, ship transportation and storage of carbon dioxide emitted from the materials industry and other...
Daily Briefing 2M split driven by strategic differences between Maersk and MSC | Maersk's new business strategy won't work, says Drewry |...
Former Swedish Club intern returns as chief executive Nordberg pledges to strengthen financial position after S&P downgrade, and may look for alliances and partnerships with rivals
Online booking platform Freightos raises $80m after merger deal Freightos lists on the tech-heavy Nasdaq amid a slowdown in global trade
MOL gets approval for ammonia-powered bulk carrier Mitsubishi Shipbuilding is working on design of the vessel
US LTL carriers look past downturn by expanding for next rebound The promise of economic improvement in the second half of this year and 2024 has LTL trucking companies adding terminals, doors, and services despite the current slowdown.
Consistent vessel service key to Port NOLA cargo recovery: officials After a 2022 in which skipped calls dragged down volumes at the Port of New Orleans while neighboring Gulf Coast gateways saw booming import growth, officials are hoping a return to steady vessel schedules will help entice shippers back to the port.
Investors fuel drayage software provider PortPro with $12 million in funding Investors see drayage as an area rife for technological improvement, with software provider PortPro the latest startup to secure funding to empower port truckers.
NY-NJ marine terminals offering up more data to improve truck flow Last year's container surge prompted a harder look at information sharing for container availability and port operations, which New York-New Jersey marine terminals are responding to with new data.
Freightos goes public on NASDAQ in first measure of logistics tech value Freightos' public listing on the NASDAQ will be the first test of how public investors value one of the more prominent logistics technology companies to emerge over the past decade.
Sealand, Hamburg Sud names to disappear in broad Maersk rebranding Maersk's move to integrate brands comes days after the carrier and Mediterranean Shipping Co. announced plans to end their 2M alliance and the recent appointment of a new A P Moller - Maersk executive board that starts work on Feb. 1.
Project cargo outlook brightening for Port of New Orleans Even as breakbulk volumes ebb from their pandemic highs, several mega-projects planned for South Louisiana are expected to keep project cargo moving at the Port of New Orleans.
Capesize bulker rates drop by a third while Asia celebrates Chinese New Year Market for smaller bulkers moved sideways over past seven days
Product tankers continue rate slide in spite of increased activity Plenty of red in the market as the vessels continue their slow start to 2023
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'Buy the weakness:' Jon Chappell on why tankers still have a long way to run
When science speaks on scrubbers, shipping should listen and seek solutions The march of global environmental rules is towards reducing emissions into the air as well as the sea
Lowest CII rating to hit ship values and charter options, warns MPC Capital's Rychly New measure will focus owners' minds on energy efficiency, German executive believes
Croatia rejoins ECSA to cope better with tighter shipping rules Regulatory upheaval prompts Adriatic shipowners to close ranks again with their European peers
New Fortress Energy snaps up Alpha Gas newbuilding in long-term deal Another 2024-delivering newbuilding disappears from the menu
Maersk confirms ship sale to MSC as part of 'continuous fleet review' Danish owner says capex and capacity discipline remains a key focus area
Editor's selection: What next for Maersk and MSC after 2M split? Fredriksen ups Euronav stake TradeWinds rounds up the biggest and best stories of the week
Deutsche ReGas plans second FSRU to boost German terminal capacity Macquarie Capital and its regas specialist arm WaveCrest planning to work with developer of new Lubmin facility
Russia looks to crude export spike as new ban looms EU is reportedly discussing a price cap of $100 for diesel and other premium products
MPCC linked to sale of veteran container ship that has dropped $46m in value Chinese interests are said to be behind the purchase
Eight confirmed dead and nine missing after Chinese cargo ship sinking Many of the rescued seafarers failed to regain consciousness
BRS reveals change at the top as Gilbert Walter takes over as CEO Long-serving broker replaces Francois Cadiou, who will remain chairman
The 'dark fleet' is an accident waiting to happen. Here's why With ever-more traders reaping rewards on illicit trades, the chances of a major spill or collision keep rising
NYK Line adds one more LPG/ammonia VLGC newbuilding Japanese shipping giant has now contracted five gas carriers that can carry both LPG and ammonia
Eight confirmed dead and nine still missing after Chinese cargo ship sinking Many of the seafarers rescued from the Jin Tian failed to regain consciousness
Sundt family sells chunk of Hunter after banking VLCC sales cash Siblings cut their stakes in shipless Norwegian company to 2%
TMI snaps up rare 2024 delivery window for Japanese handysize newbuilding Owner says the move is part of a limited renewal strategy
Euronav in limbo as Fredriksen equals Saverys family's blocking stake Tycoon spends another $74m on rival tanker owner's stock, leaving Belgian company in a three-way stand-off with management and CMB owners
Singapore competition authority to examine Hanwha's bid for DSME Initial concerns raised about LNG carrier production and storage facilities for offshore plants
MOL presses ahead with ammonia-fuelled newcastlemax bulker ClassNK has issued approval in principle for 210,000-dwt ship design
Singapore to require listed shipowners to reveal exact pay of CEOs SGX to also clampdown on lengthy directorships which 'inhibit board renewal and progress on board diversity'
MOL sees car carrier spaces easing up but sector still facing tonnage shortage About 15% of global car carrier fleet was trimmed due to Covid pandemic
Sanctions effect begins: Crude tankers forced onto longer voyages Russian crude restrictions are having the predicted effect on tanker trades, soaking up more vessel capacity as sailing distance lengthens.
Revisiting 2004 vessel accidents that turned deadly 2004: The capsizing of two vessels rocks the project cargo industry.
Air France-KLM doubles order for Airbus A350 freighters Martinair, with the help of parent company Air France-KLM, is buying four new freighters from Airbus.
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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