Boskalis orders a methanol-ready megahopper Two leading Dutch players are again pushing dredge technology forward. Following an extensive design phase that began in 2020, Boskalis has signed a contract with Royal IHC for a giant methanol-ready trailing
New CBO report takes a hard look at Navy shipbuilding plans The Congressional Budget Office (CBO) has released its latest analysis of U.S. Navy shipbuilding plan costs. Not for the first time, the CBO report finds costs would be higher than the Navy
Cargotec receives orders totalling US$963 million in 2023 Q3 Cargotec received orders of US$963 million in the third quarter, which was influenced by delayed client decision-making. In Q3, sales climbed by 6% and totalled US$1.16 million. Furthermore, at the end of the period, the order book was US$3.23 million. The operating profit was US$147 million, representing 12.7% of sales. The operating profit includes US$9.5 million in items influencing comparabil
Samsung Heavy Industries develops device to minimise container losses South Korean ship builder Samsung Heavy Industries announced this week that it has developed a device to reduce the large-scale falling of containers into the sea. The device, called Special Structure Anti-Container Loss (SSA-CL) secures the containers to the vessel, lowering the risk of many boxes falling into the sea due to severe weather conditions, such as high waves or gusty winds. The Inter
Ex-Maersk Honam to convert to methanol Maersk Line is continuing with its strategy of transitioning its fleet to methanol with the announcement that one of its H-Class vessels, Maersk Halifax, formerly Maersk Honam , will be converted to green fuel next year. Zhoushan Xinya Shipyard at Ningbo-Zhoushan has been contracted to carry out the three-month conversion work on the 15,282 TEU Maersk Halifax in the middle of next year, with the
Global bunker indices continue moderate downward trend Marine Bunker Exchange (MABUX) global prices resumed again a moderate downward trend. The 380 HSFO index fell by US$7.27, the VLSFO index lost US$8.68 and the MGO index declined by US$8.38. "At the time of writing, the market continued to move moderately downward," pointed out a MABUX official. Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - saw a slight reduction,
APM Terminals appoints new chief operating officer Olaf Gelhausen will join APM Terminals as chief operating officer (COO) on 15 November 2023. He will be in charge of all COO duties, including Global Operations, Asset Management, Automation, Project Execution, Asset Design and Engineering, LEAN, Decarbonization, and Procurement. Gelhausen comes to APM Terminals from Brose, where he was a member of the Executive Board and was in charge of the com
ONE launches new Indian Ocean Mediterranean service Singaporean container line Ocean Network Express (ONE) announced the new Indian Ocean Mediterranean service (IOM). This new product connects India, Pakistan and the Middle East with the Mediterranean region and is expected to provide customers with an enhanced service coverage for this area. According to the company, the new IOM service is expected to provide a reliable and quality-assured transp
Revolutionizing History: The Role of 3D Printing in Modern Museums How Are Museums Using 3D Printing? Museums have always been at the forefront of preserving and showcasing history, culture, and art. As technology progresses, these repositories of knowledge continuously adapt to offer more interactive and immersive experiences. One technology that's making waves in this space is 3D printing. Let's explore how the 3d printing museum revolution is changing the way
APM Terminals, DP World join forces to accelerate decarbonisation of ports and terminals Two of the largest container port and terminal operators in the world, APM Terminals and DP World, announced an initiative to accelerate decarbonisation of the world's terminals through the widespread electrification of container handling equipment (CHE). The new initiative is grounded in research showing the tipping point for battery-electric CHE can be reached within the next 2-8 years with the
Supply constraints continue in more pockets, but how low is the demand? The addition of St. Lawrence's Seaway to the map of disruptions has added yet another key pocket of constraints. The Panama Dilemma has been continuing with fewer vessels approved to pass through the locks, despite a priority for container vessels. The ongoing strikes in the St. Lawrence Seaway, may not impose a long drag until mid-2024 as the Panama situation might. Talks have apparently resumed
2028 is earliest for overcapacity absorption: Sea-Intelligence The market is heading into a traditional downcycle, as 2023 is seeing significant excess capacity being delivered, and in all likelihood, the same will happen in 2024, according to the latest Sea-Intelligence report. According to the Danish maritime data analysis firm, the question remains of when the current and overcoming overcapacity market will balance again. In their latest report, the analy
COSCO SHIPPING Ports reports over 35 million TEUs and US$360 million revenue in third quarter COSCO SHIPPING Ports' total throughput increased by 4.1% year-on-year to 35.6 million TEUs in the third quarter of 2023, while, the equity throughput increased by 2.7% year-on-year to 11.4 million TEUs. Moreover, the total throughput from subsidiaries decreased by 3.4% to 8.25 million TEUs. Additionally, the revenue of the Chinese port operator increased by 2.7% year-on-year in the third quarter
DP World calls on MUA to return to bargaining table DP World has urged the Construction, Forestry, Maritime, Mining and Energy Union (CFMEU)'s Maritime Union of Australia (MUA) to return to the bargaining table following the latest announcement of additional industrial action stretching into November. The discussions between the parties were set for 17-19 October but did not bring results, and as a result, the union declared an escalation of actio
Israel will compensate any ships damaged during its war with Hamas Aware of the risks to its supply chains from ships diverting from its risky coastline, Israel has said it will compensate any ships that are damaged in its waters due to the ongoing war with Hamas. Vessels calling at Israel already face the highest war risk surcharges anywhere in the world with the exception of ...
Clipper CEO outlines plans to add 100 ships One of Denmark's most famous shipowning brands is readying to head back to previous glories, announcing plans to add 100 ships to its fleet. Speaking with Borsen, a Danish business daily, Amrit Peter Kalsi, the CEO of Clipper Group, has outlined plans to more than double the size of his fleet in the coming years, ...
Malaysia detains tankers over illegal STS operation A not-for-profit, non-partisan organisation United Against Nuclear Iran (UANI) has identified two vessels conducting an illegal ship-to-ship (STS) transfer of Iranian crude. UANI posted a satellite image on the X platform - formerly Twitter - of the Honduras-flagged 27-year-old 300,361 dwt tanker Artemis III and the Panama-flagged 19-year-old 159,106 dwt Ocean Hermana conducting STS transfer ...
Valaris seals funds for two Saudi JV jackup newbuilds New York-listed offshore driller Valaris and its partner Saudi Aramco have secured financing for the first two newbuild jackup rigs. ARO Drilling, an equal joint venture between Valaris and Aramco, has entered into a $359m term loan with a syndicate of local Saudi Arabian banks to finance the deliveries of rigs named Kingdom 1 and ...
APM Terminals and DP World call on port peers to electrify box handling equipment Two of the world's largest terminal operators have joined forces to highlight the urgent need for ports to electrify container handling equipment, a niche segment of the global supply chain that is responsible for up to 15m tons of carbon dioxide emissions per year. APM Terminals and DP World have announced an initiative to accelerate ...
Statkraft buys 21GW of offshore wind projects in Sweden Norway's largest utility Statkraft has acquired Sweden-based Njordr Offshore Wind, a joint venture between Njordr and Vindkraft Värmland, and its portfolio of early-stage offshore wind power projects. The portfolio includes nine projects located in the Swedish part of the Western Sea, the Baltic Sea, the Bothnian Sea, and the Gulf of Bothnia. The total potential ...
Taking the market pulse in Monaco The Maritime CEO Forum held at the Monaco Yacht Club again pulled in the industry's big guns earlier this month. Splash Extra's special correspondent reflects on an event that mixed the upbeat with the cautious. It's time to start thinking about 2024. As we enter the glide path towards the end of 2023, Maritime CEO's ...
Vintage VLCC sold It has been a month since the last vintage VLCC was reported sold. Now, a new deal is in the making involving a 318,000 dwt rusty workhorse named Timmus. Sources tell Splash that the ship has been sold for around $31m. The 21-year-old tanker has changed hands for the fifth time in three years. In 2020, the ship was named Seaways ...
Harren unveils new shipmanagement brand The German shipmanagement sector is in flux with mergers imminent and a new brand coming up. German owner Harren Group yesterday launched Harren Ship Management offering comprehensive shipmanagement services - both technical and crew - for all major vessel types, including heavylift and multipurpose vessels, tankers, bulkers, container vessels and offshore wind. Harren Group managing ...
Seawings fly through latest tests Airseas, a French provider of kite style wind propulsion systems for the maritime sector, has announced that its latest sea trials have revealed projected fuel and emissions reductions of 16% based on a normalised transatlantic voyage. These projections are based on traction data collected during the validation of automated dynamic flights of the Seawing, where ...
Dorian LPG unveils revenue spike in robust VLGC market Preliminary figures released by Dorian in a market update point to TCE revenues of $142.5m-$144.5m, outpacing the previous quarter by...
International Group five-year underwriting deficit hits $1.5bn, broker reveals Gallagher predicts continued increases in P&I premiums for next three years
Maersk's green methanol supplier to receive Danish subsidy European Energy will supply green methanol for Laura Maersk in 2024 as part of an offtake agreement between Maersk
Ocean Yield acquires suezmax with eight-year charter to NAT Ocean Yield has taken on a new suezmax, having ordered four long range one tankers in August and refinanced bond...
Capesize rates plummet below $20,000 per day China's improved conditions and the issuance of new sovereign bonds may bring better outlook for the dry bulk sector, analysts...
Bulker owners' body urges industry to keep safety at top of agenda Improvements in bulk carrier safety 'spectacular' compared with 'dark days' of 1980s and 1990s
Steamship cashback cancels out 2024 price rise Parallel announcements expected other International Group affiliates as P&I niche gears up for renewal deadline next February
Welcome to the shipping coalface Everyone with a well-paid desk job in white-collar shipping services should be properly grateful to the workforce that keeps the...
Bosporus Strait to close for maritime parade A sea parade to celebrate the 100th anniversary of the Turkish Republic is the cause of the closure
Malaysia detains two VLCCs suspected of unauthorised STS of Iranian crude Authorities are investigating the ships for engaging in STS transfers without permission and unauthorised anchoring, while two masters are face...
Lebanon war risk rates double as fears grow that fighting will spread Price hike low in cash terms, but significant as an indicator of growing concerns for merchant vessels in Middle East
Box lines push through rates rise Carriers have announced severe service cuts in recent weeks. Rates took a sharp turn up in response, but the impact...
Navigator welcomes Houston-based Janette Marx to board as director David Kenwright set to step down Navigator's longest-serving independent director David Kenwright is set to step down after 16 years on the company's board. Meanwhile, Janette...
Daily Briefing Cost of insuring bulkers up 40% in four years, says Baltic Investor Indices | Box terminal giants join up to push...
Georgia tells Supreme Court ILA ruling could jeopardize plans for third ocean terminal The Georgia Ports Authority plans to open a third ocean terminal in Savannah in 2030 and says updating its current hybrid labor model to an all-union workforce could cost the port $600 million in its first operating year.
Hub Group says it lost shippers because of uncompetitive rates Hub Group said its intermodal business trailed competitors in the third quarter despite a mini-peak that developed in Southern California in September.
Secure microservices architecture with K8s Why Kubernetes is an ideal orchestration platform to get the most out of microservices architecture
'No vacancy' signs up on trans-Pacific as e-commerce demand absorbs air cargo capacity A month ago, no one was predicting a peak season for air cargo on the trans-Pacific, but finding space from China to the US has become difficult as e-commerce demand heats up.
Port of Montreal labor talks head to mediation at longshore union's request While neither side has made public its terms for a new collective bargaining agreement, sources familiar with the talks say the union is looking for a 20% increase in wages over four years and a faster seniority path for dockworkers.
Forward Air says considering canceling Omni Logistics merger The apparent change of heart from Forward management comes as Forward activist investors opposed to the $150 million deal try to oust the company's chief executive.
US LTL carriers gaining freight and hiking rates, but real recovery is elusive Less-than-truckload freight once hauled by Yellow is being "reallocated" among carriers, and rates are rising, but an underlying economic impetus for a surge in LTL demand is still missing.
Capesize bulker sector drops 37% as weak demand gives rise to bear market Average spot rates for smaller bulkers fall modestly as demand meets tonnage oversupply, Baltic Exchange analysts note
Container index rises 10% in a week as liner operators cut Asia-to-Europe capacity Operators plan to implement general rate increases on 1 November
Ocean Yield buys sixth Nordic American suezmax to back fleet renewal Vessel is a CM Lemos tanker that US owner has just agreed to acquire
Vafias keeps buybacks coming with extra $10m target for StealthGas Greek LPG carrier company now has authorisation to repurchase $25m of its own shares
Herbjorn Hansson's NAT leads charge as suezmax tanker rates spike Founder talks up latest fixtures as crude carrier numbers improve again
Container shipping 'car crash' predicted in 2024 followed by years of overcapacity The prospect of container markets reaching a balance this decade is increasingly slim
Karpowership inches forward on first South Africa LNG import project Company wins environmental approval for its FSRU-powership Richards Bay application
Navigator brings in Janette Marx as longest-serving director David Kenwright resigns Recruitment expert becomes third woman on board of LPG carrier owner
Veteran VLCC changes hands - yet again - in volatile secondhand market The Timimus has been sold five times since International Seaways got rid in 2020
Greece's EuroDry unveils NRP partnership in latest fleet expansion US-listed bulker player co-funds ultramaxes with help from Norwegian partners and Greek bank
Kirby boosts profits despite coastal fleet downtime and river delays New York-listed tug and barge owner's shares beat analyst consensus in third quarter
MOL teams up with Japan's Cosmo Oil on carbon shipping Partners will look at capturing refinery emissions in Japan and vessels suited to ship to storage
Say goodbye to Phoenix Tankers and hello to MOL Energia The Singapore company will be adding LNG carriers and other ship types to its fleet
Israel to compensate owners for ships damaged in Hamas war Tax authority says payments will be made for domestic or overseas vessels
Dorian LPG reveals huge revenue jump as brokers tip VLGC rate rises US-listed owner delivers positive trading update in record markets
Russia and DP World forge venture to send container ships through the Arctic Deal announced just after a controversial boxship used the route in the Russia-China trade
Broker Gallagher predicts a 'manageable' P&I renewal for shipowners Latest report suggests protection and indemnity rate increases will range between 5% and 7.5%
Supercycling: Cleaves bullish on rates as it starts Scorpio Tankers coverage Investment bank also believes asset values could continue to climb
Greece's EuroDry unveils partnership with NRP in latest fleet expansion US-listed bulker player co-funds ultramaxes with help from Norwegian partners and Greek bank
Hoegh Autoliners '100% full' but not seeking chartered ships Finance chief Per Oivind Rosmo says the company is happy to wait for newbuildings
Green steel: 'Classic' capesize cargoes evolve as steel industry seeks to slash emissions The changing demands of steelmakers in China, India and Europe are shifting trades
Integr8 Fuels launches bunker trading desk in Brazil Bunker supplier also looking to help local clients tap alternative fuels such as biofuel and LNG
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