Rusty Murdaugh resigns as Austal USA president Austal USA says that Rusty Murdaugh has resigned as its president, effective today. Murdaugh was named president in Sept. 2021 (after being named acting president in February 2021 when former president Craig
Tier IV tug Jane McAllister arrives in Virginia McAllister Towing's Tier IV tug Jane McAllister has arrived in the Port of Virginia. The 93 foot long by 38 foot beam vessel is equipped with 3516E Tier IV Caterpillar engines producin
How to Write a Good Documentation in 2023? Do you want to learn the right way to write documentation in 2023? A lot of people think that documentation is dead these days. Some of them even say that it might not be trendy or relevant! But that is not the case! However, we must understand that writing and keeping up with documentation is decreasing daily. If this is too difficult for you to get started with you can always get started with a
International Logistics Mastery: A Game Plan for E-commerce Success As an e-commerce entrepreneur, international logistics is one of your biggest challenges. Getting products from your warehouse to customers worldwide requires a game plan considering market research, partner selection, optimized inventory management , customs compliance and documentation, flexible shipping solutions, warehouse optimization, technology integration, risk mitigation, localized custo
Port of Eden recreated in cutting-edge shipping simulator The Port of Eden currently exists in a cutting-edge shipping simulator 537 kilometres southwest of its real-life location, allowing marine pilots to improve their abilities, test scenarios, and conduct contingency training in a virtual setting. Marine pilots from the Port Authority of New South Wales participated in two-and-a-half days of rigorous training at the Maritime Simulation Centre at the
MSC enhances Israel Express Service through new VSA MSC announced the reinforcement of the Israel Express restarting a partnership with ZIM under a vessel sharing agreement. Starting end of August 2023, the enhanced Israel Express service will operate with 5 vessels of 6700 TEUs nominal capacity, of which 3 will be operated by MSC. The updated rotation will be, London Gateway - Rotterdam - Hamburg - Antwerp - Le Havre - Ashdod - Haifa - Damietta -
Port of Auckland announces performance bonus The recent announcement of Port of Auckland's FY23 financial results confirmed the strong recovery in financial performance, that resulted in the almost doubling of the dividend to Auckland Council for the year. So, in order to recognise this, Port of Auckland has paid a one-off Company Performance Bonus (CPB). "We're delighted that we can share the great results of the company with our people. T
Port of Melbourne appoints new CFO The Port of Melbourne announced Leigh Petschel's appointment as the organization's new chief financial officer. Petschel will join the Port on 13 November after serving as chief financial officer and vice president at Monash University since mid-2021. Prior to joining Monash, Petschel worked for Transurban in Australia and North America as a general manager and vice president. In addition, given
Sea-Intelligence analysis: Shortage of blanks in Golden week Sea-Intelligence reports that we are currently 5 weeks away from the Chinese National Holiday known as Golden Week, and carriers may turn to blank sailings to manage supply as a result of a significant drop in demand. "Source: Sea-Intelligence.com, Sunday Spotlight, issue 629" "However, no significant capacity reductions have been reported by carriers this year," stated Alan Murphy, CEO of Sea-In
King Abdullah Port welcomes back MSC giga container vessel King Abdullah Port recently welcomed MSC Irina, the world's joint-largest cargo ship with a capacity of 24,346 TEUs. Earlier, the port handled the same container ship for the first time in May 2023, further solidifying its position as a major trade hub at the crossroads of three continents. Furthermore, the port welcomed two of the world's largest cargo ships, MSC Tessa and MSC Gemma. These vesse
COSCO Shipping Ports announced decreased revenue for first six months of 2023 COSCO Shipping Ports Limited announced interim results of the Company and its subsidiaries for the 6 months ended 30 June 2023. More specifically, total throughput increased by 2.2% year on year to 64,572,872 TEUs, equity throughput increased by 1.3% year on year to 20,751,365 TEUs. Also, revenue decreased by 2.2 % year on year to US$688.9 million, while gross profit also decreased by 2.0% year o
CMA CGM applies new PCS in Mersin CMA CGM has announced a new Port Congestion Surcharge (PCS) from the port of Mersin to several destinations worldwide due to current delays in the Turkish port. The French carrier said that a surcharge of US$100/TEU will be implemented on dry, hazardous and reefer containers that will be transported from/to the Mediterranean, Adriatic, North Africa (including Morocco) & Black Sea to/from Mersin.
MISC and Samsung Heavy showcase floating CO2 storage unit concept Malaysia's top shipping line, MISC, and South Korean shipbuilder Samsung Heavy Industries (SHI) have completed a conceptual design for a floating CO2 storage unit with the aim of enhancing the efficiency of the carbon capture and storage (CCS) value chain within the maritime industry. The floater, designed with a total storage capacity of 100,000 cu ...
Transocean wins $222m drillship contract in India Switzerland-headquartered Transocean has secured work from India's Oil and Natural Gas Corporation (ONGC) for its ultra-deepwater drillship. The New York-listed operator of 37 rigs has fixed the 2009-built unit for a 21-month campaign starting in the first quarter of 2024. The rig is currently operating for Reliance Industries on a dayrate of $169,500, which ...
Furetank and Wärtsilä tackle methane slip Swedish shipowner Furetank has partnered with Finish technology group Wärtsilä to co-develop and test technologies showing the potential of halving the methane slip in LNG-fuelled ships. Running ships on LNG and liquefied biogas (LBG) compared to conventional fuel oil delivers emissions reductions of CO2, NOx, SOx and harmful particles, but methane, which is a more ...
ADES readies Saudi IPO Oil and gas driller ADES International has announced plans to proceed with an initial public offering (IPO) on the Saudi Exchange. The company, backed by Saudi Arabia's sovereign wealth fund, said the public share sale will comprise around 338.7m ordinary shares, resulting in a free float of 30% after the sale of a mix of ...
Of science friction and chocolate fireguards For his latest monthly column, Pierre Aury picks out two numbers - 43 and 75 - as a source of inspiration. This month numbers have provided some inspiration. And no we are not going to be debunking some numerical myths, nor are we going to make a case about the fact that if numbers, allegedly, ...
Golden Energy Offshore seals new PSV deal with Repsol Norway's Golden Energy Offshore Services (GEOS) has secured more work from Repsol Norge for its 2005-built large platform supply vessel . A new contract has been secured in direct continuation of the current charter, which started in 2021 for a firm period of one year plus a total of one year of options. The extension, ...
Carrier operating margins fall into single digits for first time in 3 years There's good news and bad news in the lead article in this week's report from Alphaliner, the leading container publication from brokers BRS. First, the good news. Analysing Q2 results for the nine global carriers who publish their earnings before interest and tax (EBIT) shows that volumes bottomed out in the first quarter "The first ...
Ships caught up in Gabon military coup Movements in and out of Gabon have been closed down after a group of senior military officers announced a coup following the country's presidential election result. Operations at the Libreville port have halted and no vessels have entered or departed the port since the coup announcement, according to maritime security consultancy Ambrey. "The port authority ...
Panama Canal solutions sought Solutions for the current and potential future water-saving restrictions imposed by the Panama Canal Authority (ACP) forms the lead story in the August issue of Splash Extra. The article explores what the canal's administrators can do physically to improve water security on the crucial marine highway, as well as examining alternative shipping arrangements for the ...
RWE emerges as sole winner as first US Gulf of Mexico offshore wind auction draws limited interest The first ever auction of offshore wind development rights in the Gulf of Mexico ended on Tuesday, with just one of three available areas sold for $5.6m. German utility RWE placed the highest bid to secure the rights to develop more than 100,000 acres off Lake Charles, Louisiana. The lease area RWE provisionally won will ...
Hapag-Lloyd excluded from second round of HMM bid process Hapag-Lloyd has been excluded from the second round of bidding for HMM, South Korea's flagship carrier. Multiple sources in South Korea report that Hapag-Lloyd, the only foreign bidder for HMM, has been ruled out of the privatisation process by state creditors Korea Development Bank (KDB) and Korea Ocean Business Co (KOBC). "Selling HMM to Hapag-Lloyd ...
'Critical work remains': UN renews FSO Safer crowdfunding campaign With the first phase complete in a mission to avoid a catastrophic environmental tanker disaster in the Red Sea, the United Nations is crowdfunding once again to get a decrepit vessel sent for safe recycling. Carrying over 1.1m barrels of oil, the FSO was abandoned off Yemen's Red Sea port of Hudaydah after the civil ...
Shipping preps for regular Panama Canal disruption The Panama Canal Authority (ACP) has been urged to expedite long-held plans to buy neighbouring public lands to expand its watershed area to combat future droughts that have the potential to vex global supply chains. Draft and transit restrictions at the waterway - and resulting ship queues - have dominated the shipping news agenda this ...
The crisis communications playbook The mantra of all crisis communications is to tell it all, tell it early, tell it yourself. If you don't get out there first, and tell your story as openly and candidly as possible, you're going to be on the back foot from the start. It's key that you're in control of the story as ...
August 2023 Review Ships backing up at one of the world's key maritime chokepoints will become the norm with officials at the Panama Canal Authority warning last week that water-conserving measures will be in place for at least the next 10 months. Faced with an unprecedented drought this year, combined with the onset of the El Niño weather ...
China's holiday from growth harms tanker prospects Let's face it, the economic data from China this year has made grim reading. Imports, exports, purchasing managers indices, youth unemployment, foreign direct investment, manufacturing output, real estate investment and returns, urbanisation, consumer spending and inflation are all pointing in the wrong direction. The more President Xi aggregates power to himself and a small coterie ...
Dry bulk learning not to be so reliant on China Weak Chinese macroeconomic data are a cause for concern in bulk carrier markets, though there are glimmers of light in the darkness. China imported a record 576.14m tonnes of iron ore in the first half of 2023, a 7.7% year-on-year increase. Satellite tracking firm Kpler says August imports could be 108.5m tonnes. Any growth in ...
More resilient, less efficient works for container shipping Increasingly one reads about multinational corporations spreading their supply chains around the world, or creating parallel supply chains to cater for different markets, e.g. one for China and one for the US. A recent study by investment bank Pictet suggests that many corporations will aim to be "more resilient in a multipolar world, even if ...
Analyst Abstract Tankers The tanker orderbook is growing, but still remains historically low. A total of 232 tanker orders have been placed this year, according to Xclusiv Shipbrokers, with orders placed this year making up 50% of the orderbook. During the first eight months of 2023, 57 aframax/LR2s, 69 MR2s, 40 suezmaxes and 11 VLCCs have been ...
'Buyers see something on the horizon which economists cannot' In dry bulk, brokers Gibson note that many buyers have elected to ignore the lacklustre freight market and "bite the bullet" with their acquisition plans. The majority of the vessels being reported sold are less than 12 years old, which would indicate that vessels of this ilk are hitting the "sweet spot" for buyers, Gibson ...
Next generation green newbuilds The impact of the revised strategy to decarbonise the global shipping industry adopted by the International Maritime Organization (IMO) will be felt by the industry for decades to come. Shipbuilding is probably the sector looking at the most drastic changes from 2030 onwards when the first target is set to come into force. In July, ...
Welcome to the multi-fuel universe Fuelling ships is about to take on many new layers of complexity that will change marine fuel procurement beyond recognition, Sandi Ennor, chief executive of US bunker brokerage Transparensea Fuels, tells Splash Extra. The energy transition will require shipowners and operators to make more considered decisions about potentially multiple new fuels - based on the ...
Ships paying top dollar for Panama Canal transits, says Avance Gas Avance Gas said the average August slot fee for northbound Panama Canal transits was $844,000 on top of regular fees...
Shipping on hold as Gabon coup shuts down operations The coup in Gabon has temporarily trapped at least four ships after military officials closed the country's borders, but the...
Taiwan clash would pose unprecedented accumulation risk for marine insurance, industry warned 'No clear answers' on who would pay for 'nightmare' dark fleet oil spill, IUMI president Denèfle admits
Category 3 hurricane Idalia makes landfall in Florida Hurricane Idalia made landfall in the Big Bend part of Florida as a category 3 storm. Vessel operations are suspended...
WMU President Maximo Mejia seeks better balance among students After 25 years on the World Maritime University faculty, Mejia retains oversight of the teaching programme. However, most of his...
Hapag-Lloyd's bid for HMM hits roadblock Benefit to South Korean maritime and container shipping sectors said to be a key factor in assessing potential buyers for...
Containership charter rates continue to decline Regional feeders have been the most affected by recent rate falls having dropped by almost 25% in the past three...
Panama Canal seeks to reassure market Despite a long queue of vessels, the Panama Canal Authority says it is still open for business. But while container...
Russian fertiliser exports boost tonne-mile for bulkers Russia has been shipping fertilisers to China, India and Brazil in a trade flow shift away from Europe, boosting tonne-miles...
Wan to replace Andaloro as PSA BDP chief Move comes after Singapore-based port giant PSA International spent more than a year to integrate BDP, which it bought in...
Cosco eyes terminal assets in Vietnam and Thailand But new deals will not come easy and will likely require joint venture partners, given the complexities in acquiring controlling...
Cosco Shipping Holdings shares rise on buyback plan The dividend amounts to nearly half of Cosco Shipping's net profit attributable to shareholders for the first six months
Daily Briefing Family demand answers over seafarer's disappearance on board dark tanker | More ageing containerships head for recycling | South Korea...
Jaxport, Savannah closed; Charleston halts vessel moves as Idalia moves ashore Ports along the southeast coast of the US were experiencing various stages of disruption after a major hurricane made landfall on Florida's west coast.
Poor IT strategy over the years contributed to Yellow's demise: analyst An LTL carrier such as Yellow is an extremely complicated business, and similar to the railroads, the enterprise software it used was developed internally - often over decades - because there was no "off-the-shelf" solution, writes analyst Ted Prince.
Hopes for import rebound on trans-Pacific shift toward pre-Chinese New Year US retailers historically stock up for the spring season and top off inventories following winter holiday depletion and before the Chinese New Year, but forwarders and carriers admit there's no guarantee this time around.
Jaxport closed, Savannah halts vessel operations as Idalia moves ashore Ports along the southeast coast of the US were experiencing various stages of disruption after a major hurricane made landfall on Florida's west coast.
KNOT Offshore reports 'strong performance' but slashes $49.6m from value of two tankers New York-listed shuttle tanker owner delivers higher revenue as non-cash impairments hit bottom line
In brief: Offshore market lifts Havila Shipping revenue but bottom line turns red First-half profit improves despite red numbers in the second quarter
Summer slumber: Middle East slowdown trumps Atlantic activity as VLCCs hit 12-month low But slump comes at an expected time, as refineries carry out annual scheduled maintenance
Clarksons Securities cuts outlook for Golden Ocean shares but stays positive Clarksons investment banking arm expects bulker owner to have lower near-term earnings
Panamax bulkers benefit from grain volumes from east coast of South America as charterers 'cave in' Delays at Panama Canal are also allowing owners to charge higher rates
Golden Ocean thinks bauxite trade growth could soon offset seasonal lull in iron ore Seasonality in the capesize market could become less volatile if seaborne bauxite volumes continue to grow as expected, shipowner said
Offshore market lifts Havila Shipping revenue but bottom line turns red First-half profit improves despite red numbers in the second quarter
Ro-ro owners need to retool training regimes around fire safety, experts say Increasingly high-profile electric vehicle fires prove new approaches to onboard firefighting are needed
MISC Berhad and Samsung Heavy move forward with floating carbon storage unit Shipowner and yard secure approval in principle from DNV for a new breed of vessel. Step forward the FCSU
Port of Savannah suspends ship operations as Hurricane Idalia threatens direct hit Storm briefly strengthens to Category 4 before hitting northern Florida's Gulf Coast
Green Seas: Wind-propelled shipping meets spaceport supply chain Unique vessel will use wingsails to reduce emissions to move launcher parts to French Guiana
Container peak season may have already 'peaked' as freight rates ease Rates drop on transpacific due to ebbing demand and expanding fleet
No swift end expected to Turkey's Ceyhan crude shipment dispute, brokers say Talks with Iraq are continuing as aframax and suezmax owners look on in hope
No regulatory 'red flags' for Cadeler as Eneti merger stays on track BW Group company expects smooth progress towards unification with Scorpio Group shipowner
Buyers line up as VLOC giant Polaris Shipping is put up for sale China's Cosco Shipping has shown interest in buying the company to boost its bulk business
Hapag-Lloyd fails to make HMM bidding shortlist, reports claim German line had been one of four potential buyers for South Korean owner
Eastern Pacific dives on huge LPG and ammonia carrier newbuilding quartet Pioneering shipowner one of first with a new ship type - say hello to VLACs
Cosco tops liner profit rankings as Zim sinks to the bottom Operating margins reveal wide gap between best and worst performing carriers
Eidesvik reverses $31m of ship impairments in improving offshore markets Oslo-listed owner sees profit jump after reassessing book values of the fleet
Salvage team leaves decaying supertanker after clean-up FSO Safer set for green scrapping as Boskalis unit heads for home
Wavelength: The Greek Dream? How 'silly season' has brought radical politics to maritime Greek ship investor's move into left-wing politics is raising eyebrows but he is not alone
Moller-Maersk feedership bunkers green methanol in Rotterdam in European first Feedership makes final stop off on world tour before its planned September naming ceremony in Copenhagen
Samsung Heavy Industries hints at Russian LNG carrier contract cancellation Market interest is also focused on three vessels for Russia at Hanwha Ocean
Australian LNG plants' September strike date rocks nervous gas markets Gorgon and Wheatstone operator Chevron said industrial action not necessary for agreement to be reached
BW LPG 'working diligently' towards US listing in early 2024 Outgoing boss Anders Onarheim gives guidance on time frame for New York debut
Departing BW LPG boss Onarheim vows 'not to ask difficult questions' Tributes paid to outgoing CEO as he pledges not to make life awkward on future conference calls
Russia's Rosneft sees first-half profits rise despite production cuts Kremlin tax changes make trading environment more challenging for country's oil giant
Panama Canal: Avance Gas reports booking turmoil and costly slot auctions as delays rise Transits being reduced due to draft restrictions during drought
Gabon closes shipping down after post-election coup Calls in and out of the country halted as military officials claimed to have seized power
Beks pounces on Japanese-built capesize bulker in growth campaign Istanbul-based company's mixed fleet swells to 17 bulkers and 25 tankers
ASL Marine back in black as it works towards exiting SGX watch list Singapore offshore player looks to expand its ship repair capacity in Singapore with additional dry dock
Avance Gas logs record profit and says rates still rising for VLGCs John Fredriksen-controlled VLGC specialist optimistic for even stronger second half of 2023
PSA unveils new management team for logistics arm Singapore terminal operator recruits from within for top job at PSA BDP
US closes ports across Florida's Gulf Coast ahead of major hurricane State's busiest port among those required to halt marine operations as Idalia threatens to become Category 3 storm
Panama Canal restrictions are rerouting LPG shipping flows Persistent congestion and higher delays at the Panama Canal could lead to lasting changes in global LPG shipping flows.
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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