TTB 2024: America's first hybrid electric towboat While innovations in tugboat design to make them greener and more powerful have made headlines more so than inland towboats, some towboat operators aren't too far behind. Taylor Dickerson, who is vice
Korea's KT Marine goes to Damen for fast delivery of fast ferry Damen-built fast ferries have become an increasingly common sight in South Korean waters in recent years and now Damen is adding to that number. It has signed a contract to build a
NTSB makes new call for crewmember personal locator devices The National Transportation Safety Board is urging vessel owners and operators to provide each crewmemberwith a personal locator device. This latest NTSB call for the use of devices such as personal locator
Lawmakers to Biden: Prioritize U.S. maritime A bipartisan group of lawmakers, led by Senator Mark Kelly (D.-Ariz) and Rep. Mike Walz (R. Fla), have written President Biden urging him to prioritize U.S. maritime and strengthen U.S. maritime power
WIMOs 3rd annual clay shoot set for March 21 The Women in Maritime Operations (WIMOs) organization is hosting its third annual clay shoot event on Thursday, March 21 from 8 a.m. to 4 p.m. at Providence Plantation in Rosharon, Texas. This
Weeks Marine wins $62 million USACE contract Dredging contractor Weeks Marine Inc. has been awarded a $62,055,622 firm-fixed-price contract for harbor deepening and widening. Work will be performed in Irvington, Ala., with an estimated completion date of Jan. 30,
Mexican Navy opts for Thordon solution to cut waterjet cavitation damage The Mexican Navy has awarded Thordon Bearings a second major contract for the supply of its water-lubricated SXL wear rings for retrofit installation to the waterjet propulsion nozzles on 25 interceptor patrol
AkzoNobel: 10 years of Intersleek 1100SR data demonstrate big fuel and CO2 savings AkzoNobel says that real world performance data gathered from ships coated with its International brand's Intersleek 1100SR fouling release coating indicate that, in the ten years since its release, it has cut
Q&A: Meet the women behind Royal Barge Fleeting Marine Log (ML): First off, tell us about Royal Barge Fleeting and how it got started? Jessica Branham (JB): I was approached by a member of Cummings Marine Board of Directors in
NYK partners with Japan Coast Guard on maritime data open platform On 26 January, NYK announced its agreement to share oceanographic data, including wind direction and speed gathered by NYK-operated vessels, with the Japan Coast Guard through Ship Data Center's IoS Open Platform (IoS-OP) services. Furthermore, IoS-OP serves as a collaborative platform for data sharing within the Japanese maritime industry, specifically focusing on vessels operated by Japanese sh
Maersk revises peak season surcharge from Far East Asia to East Coast South America Danish ocean carrier Maersk is revising the Peak Season Surcharge (PSS) for Far East Asia to East Coast South America for all dry containers, effective from 14 February. The revised tariff levels are as outlined below: The post appeared first on Container News .
Noatum completes Sesé Auto Logistics acquisition AD Ports-owned Noatum, which leads the company's logistics cluster operations, successfully closed the acquisition of Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé, for a total purchase consideration €81 million (US$88 million). The acquisition, which was approved by all relevant European regulators and closed today (31 January), solidifies Noatum's c
HAROPA Port increases financial figures amid container drop The maritime traffic at the HAROPA Port complex in France reached 2.63 million TEUs in 2023, translating to 81.3 million metric tons, reflecting a decrease of 4.5% compared to the previous year's figures. Additionally, HAROPA Port's liquid bulk traffic ended the year at 41.2 million metric tons, experiencing a positive uptick of 5%. On the other hand, solid bulk traffic faced a decline of 11% to
Regulatory economics changing structure of boxship industry Braemar shipbrokers said it is expecting new orders for vessels as the ageing panamax fleet increases and carriers respond to new carbon regulations and look to reduce their exposure to an increasingly volatile charter market. According to Braemar researcher Jonathan Roach, some 25% of the panamax fleet is currently over 20 years old, and that figure is set to increase to 40% by 2027. "As contain
Peel Ports Logistics secures vessel agency deal with Drax Peel Ports Logistics has recently inked a contract to serve as the shipping agency for Drax, a renewable energy specialist, facilitating the arrival of biomass-carrying vessels at the Port of Liverpool in the United Kingdom. This partnership aims to support the transportation of renewable fuel to Drax Power Station in North Yorkshire. Peel Ports Logistics, as the designated service provider, welc
Port of Rotterdam appoints new director for container segment Starting 1 March, Hanna Stelzel will assume the position of Director Containers within the Commercial department at the Port of Rotterdam Authority. In her new role, she will oversee all activities related to the container chain at sea, in the port and hinterland. Succeeding Hans Nagtegaal, Stelzel, with a background in the German automotive industry, logistics, and digitalization, has been with
Delay in negotiations cast doubt on HMM sale Aspersions have been cast on the sale of HMM to the Harim Group-JKL Partners consortium after negotiations with the South Korean flagship carrier's state-controlled shareholders stalled. Container News understands that agreement on the sale terms was supposed to have been reached on 23 January, but this has been postponed to 6 February. On 18 December 2023, Harim-JKL was chosen as the preferred b
NYK initiates construction of in-house biofuel testing facility On 29 January, NYK conducted a groundbreaking ceremony at a Chiba Prefecture site, marking the commencement of the construction of a test engine facility dedicated to assessing the safety and viability of biofuels for accelerated practical application. The installation of the test engine is scheduled for completion in June. Over the next three years, NYK Group will conduct combustion tests to ana
Port of Corpus Christi appoints new Chief Financial Officer Cindy Bertolami has been named the new Chief Financial Officer (CFO) of Port of Corpus Christi, succeeding Kent Britton, who took on the role of Chief Executive Officer (CEO) in September. Having served as the director of Finance for four years at the Port of Corpus Christi, Bertolami brings over two decades of financial leadership experience to her new position. She has been serving as the Inter
Neptune Lines doubles order tally for dual-fuel car carriers in China Greek vehicle carrier owner and operator Neptune Lines has added more vessels to its newbuild series at Fujian Mawei shipyard in China. The Craig Jasienski-led firm has contracted another pair of LNG dual-fuel 4,200 ceu shipsfor delivery in 2027 after signing up for the first two units under the so-called Genesis Project in September last ...
TEN confirms modern tanker buys New York-listed Greek owner Tsakos Energy Navigation (TEN) has confirmed an acquisition of five modern tankers covered by Splash earlier this month. The deal with an undisclosed value, which TEN intends to fund with cash on hand and bank finance, includes a pair of 2023-built LNG dual-fuel LR2s, a 2019-built "super-eco" suezmax and two scrubber-fitted ...
NYK seals LNG newbuild charter with JERA Japanese shipping line Nippon Yusen Kaisha (NYK) has sealed a long-term charter deal with compatriot JERA for one of its LNG carriers under construction in South Korea. The Tokyo-headquartered behemoth has fixed a 174,000 cu m unit scheduled for delivery from Hyundai Samho Heavy Industries in 2027. The deal is the eleventh LNG carrier charter ...
Euronav sells fleet data analytics platform to ZeroNorth Belgian tanker giant Euronav has sold its Fleet Automatic Statistics and Tracking (FAST) platform to Danish vessel optimisation brand ZeroNorth. FAST collects advanced high-frequency data in real-time from sensors across Euronav's fleet. The Saverys family-controlled company has implemented the FAST platform across its fleet, using ship reporting, voyage optimisation, and ship optimisation using
QatarEnergy dishes out $6bn worth of contracts for Al-Shaheen expansion Middle Eastern oil and gas producer QatarEnergy has awarded engineering, procurement, construction and installation contracts worth $6bn for the next development phase of its Al-Shaheen oilfield, to boost production by about 100,000 bpd. The award is part of the Ruya project, the third phase of Al-Shaheen's development since North Oil Company, a joint venture between ...
UK company to build first-ever tidal energy plant in Southeast Asia Energies PH has signed a deal with UK-based marine offshore renewables specialist Inyanga Marine Energy Group to build Southeast Asia's first-ever tidal power generation plant. The site will be at the remote Capul Island of Northern Samar in the Philippines, along the San Bernardino Strait, a location chosen specifically for its strong marine currents. The EPC ...
Construction of largest US offshore wind farm set to begin after clearing final hurdle The US authorities have given the final two major federal approvals required for the start of construction work on Dominion Energy's 2.6 GW Coastal Virginia Offshore Wind (CVOW) project, the largest approved offshore wind project in the US so far. The Bureau of Ocean Energy Management (BOEM) provided its final approval of CVOW's Construction and ...
CMA CGM readies methanol retrofits CMA CGM has signed up a series of containerships for a methanol dual-fuel revamp in China, joining the likes of Maersk, COSCO and Hapag-Lloyd. The French carrier has earmarked its conventionally-fuelled 9,300 teu ships for the project at CSSC Qingdao Beihai Shipbuilding. The world's third-largest liner ordered its first six methanol-powered boxships at Dalian Shipbuilding ...
Industry heavyweights weigh in on Red Sea security solutions for shipping Arsenio Dominguez, the new secretary-general of the International Maritime Organization (IMO), has called for a "multi-faceted" solution to the ongoing Red Sea shipping crisis. Assuming the top post at the London United Nations body at the start of this month, Dominguez has been thrust into an international shipping crisis on the scale of the pandemic ...
New gas shipowner beckons from Jacksonville US-based investment firm Nebula Energy has bought a majority stake in Singapore-based Atlantic Gulf & Pacific Company (AG&P) LNG and has its sights set on forming a new shipowning firm for the transport of the chilled fuel. According to the Singapore company, Nebula Energy will be investing $300m in AG&P LNG to fast-track LNG terminal ...
Global Maritime acquires Spanish engineering specialist Iberian Offshore Norwegian marine and offshore consultancy Global Maritime is expanding its footprint into the emerging Spanish offshore wind sector with the acquisition of Madrid-based engineering specialist Iberian Offshore. Founded in 2015, Iberian Offshore specialises among other things in the fixed-bottom offshore wind industry, including foundation and monopile design. The Stavanger-based firm said the rece
New shipping registers raise concerns They are more than 9,000 km apart, in separate continents, both are landlocked, but the backwaters that are Laos and Eswatini have one common link - new shipping registers. The Splash Extra lead today carries an investigation into the Indian companies establishing shipping registries and classification societies around the world to accommodate ships with murky ...
Exporter suggests plan to resolve stranded livestock carrier problem After the animals spent almost a month aboard the livestock carrier Bahijah, a plan to handle the animals has been presented to Australian authorities. The 2010-built, 7,900 dwt livestock carrier, registered to Israeli-based Bassem Dabbah Shipping and operated by Korkyra Shipping, left Australia on January 5 and on January 16 diverted from its route due ...
Iraq seen replacing Russia as India's top source of crude India has pivoted back to Iraq for its crude oil supplies with Russian imports held up by the Red Sea shut-in as well as the threat of US sanctions. Data from Kpler shows India has been importing a record 1.3m barrels per day from Iraq this month. Russia had become India's top supplier of crude ...
Mid-sized tankers in vogue: McQuilling McQuilling Services has published its latest five-year forecasts for the tanker trades with the American firm favouring prospects for mid-sized tankers this year over the bigger ship types. The 196-page, 27th edition of McQuilling's Tanker Market Outlook contains a five-year spot and time charter equivalent (TCE) forecast through to 2028 for eight vessel classes across ...
Biofuel sales triple in Singapore Biofuel sales more than tripled last year in Singapore, the world's dominant bunkering hub, with more than 500,000 tonnes sold. Analysts at shipbroker Eastport Maritime expect biofuel sales to double in Singapore through 2025. Singapore is by a considerable distance the world's largest bunkering hub, selling more than three times as much fuel overall than ...
Landlocked shipping registers make a comeback The Indian backers of the world's newest shipping flag are in discussions to create another registry, with both nations sharing the geographical distinction of being landlocked. The Eswatini Maritime Affairs and International Ship Registry was formed as a private company in Singapore three months ago, and is responsible for registering ships to the southern African ...
African flags and the Russian war machine In close to 24 years of covering this industry, a constant head-scratcher has been the outsourcing of national shipping registries, an oft corrupt practice that quite literally lets unpleasant folks get away with murder. Over the years, the likes of Cambodia and landlocked Mongolia have made headlines for their shockingly lax approach to ship registration. ...
January 2024 Review Shipping came to terms this month with the fact that the Red Sea exodus is here to stay for a considerable time. Reacting to Israel's war in Gaza, the Houthis of Yemen - backed by Iranian intelligence and hardware - have targeted around 40 merchant ships in the last three months with drone and missiles, ...
Tankers enjoy a very happy new year The Middle East continues to be a vital part of the global oil market, both in terms of production from nations in the region, and a bottleneck in global seaborne oil supply chains. In December OPEC+ announced that it would trim production further, reducing the amount of seaborne exports of crude oil from the region. ...
A typical January for dry bulk The situation in the Middle East has affected bulker operations with shipbroker Braemar reporting that about 60 fewer capesize bulkers sailed from the Atlantic into the Indian Ocean via Suez in the four weeks to January 14 compared to the previous four weeks, while 60 capesizes sailed via the Cape of Good Hope in the ...
Financial salve for logistical headaches saves Q1 for containers UNCTAD said on January 26 that Suez Canal transits were down 39% in the two months to January 19 and that overall freight tonnage shipped via Suez was down 45%. Container shipments through the canal were down 82% in the week to January 19 compared to four weeks earlier. THE Alliance announced on January 25 ...
Analyst Abstract Tankers The tanker vessel class most impacted by the Red Sea diversions is suezmax, likely leading to a spike in earnings. However, if the Red Sea crisis is prolonged charterers may well look to parcel two suezmax cargoes onto one VLCC. Diverting via the cape adds about 4,900 nautical miles to the voyage and over ...
Tanker sales tank Year-on-year bulker activity increased this January, with a total of 47 bulkers sold so far, compared to 42 in January 2023. Values across all bulker sectors rose. "Spot rates are at historical highs for this period," pointed out Rebecca Galanopoulos Jones, a senior content analyst at VesselsValue. For example, capesizes are up by around 270% ...
Are seafarers ready to handle tomorrow's fuels? As shipowners, managers, and engine suppliers turn more and more to new fuels, the need for adequate crew training to work on such vessels varies very widely across different fuel types. Experts tell Splash Extra that very few seafarers have undertaken training in the handling of alternative fuels with LNG as the exception to the ...
Alliances: the blatant cartel? At a time where global alliances are in flux, Alison Cusack, a lawyer from Melbourne-based Cusack & Co, weighs in. The frustration many have with alliances (consortiums etc) is that the market power seems overwhelming at the disadvantage of the humble
US slaps sanctions on Iranian commodity sellers and Burmese shipping line The US has announced fresh sanctions under separate programmes, with shipping enterprises supporting Burma's military and sellers of Iranian commodities...
Somali pirate attacks add to Red Sea confusion Several incidents of reported Somali piracy have added to security concerns in the Horn of Africa, while the Houthis continue...
ZeroNorth buys Euronav's fleet data analytics platform ZeroNorth's 'data flywheel' is growing, this time with the additional high-frequency data insights developed in-house by Euronav
TEN confirms acquisition of five modern Viken tankers Quintet includes pair of one-year-old LNG-powered dual-fuel LR2s
Sea Legend emerges from opaque empire dabbling in growing Sino-Russia trade A previously unheard of Chinese start-up Sea Legend has garnered media attention for its bold entrance into the Red Sea...
Polar ruling could impact right of owners to refuse Red Sea orders Houthi verbal threats - or even multiple drone and missile attacks - do not give automatic entitlement to divert round Cape...
The week in newbuildings: VLCCs and ammonia carrier orderbooks get further boost Newbuilding contracts for a total of 21 vessels in the containership, dry cargo, gas, offshore, passenger ferry and tanker sectors...
Tanger Med seeing no signs of congestion from diversions Tanger Med volumes rose to record highs again last year. It is now looking to expand again, after handling 95%...
Neptune Lines doubles dual-fuel orderbook Series of 4,200 ceu vessels will help owner reduce carbon intensity, as well as increase cargo intake by 36% compared...
Shippers warned to press pause on contract negotiations With rates plateauing and services being restructured peak disruption from the rerouting of shipping could be nearing an end. Shippers...
CMA CGM joins list of carriers tying up methanol-fuel conversions World's third-largest containership operator joins Cosco and Maersk in booking conversions of existing conventional-fuel containerships to operate on methanol fuel...
Green methanol can save fleets up to $55m under FuelEU pooling in 2030s, says LR FuelEU penalties to start from around $217,000 per vessel in 2025 for non-compliance, unless ships reduce GHG intensity by 2%...
MOL forecasts full-year profit to plummet more than 70% Profit from containerships business decreased sharply due to drops in spot and term contract freight rates
Wärtsilä sales reach all-time high on increased newbuild activity Leading medium-speed marine engine designer expects a better demand environment in 2024 compared with last year
Container shipping caught in crosshairs of superpower tussle Growing complexity of supply chains necessitates strategic adjustments, including better multimodal transportation service and enhanced efficiency
Red Sea disruptions impact Asian bunker market fundamentals Supply tightness caused by requirements for greater amounts of bunker, as more vessels divert away from the Suez Canal. Price...
Daily Briefing First Asia-bound Russian oil cargoes seen loaded on VLCCs to avoid Red Sea risks | Cansi to introduce new criteria...
ONE swings to losses despite liftings growth ONE noted the Red Sea crisis has led to 'an instant tonnage shortage', but said prolonged stagnation means cargo demand...
Ocean rate surge reflects uncertainty around cost of Suez diversions: MSC An executive for the carrier said he expects liners and shippers will eventually adjust to the lengthier transits around southern Africa but acknowledged it will take time before rate volatility subsides.
As industrial freight lags, more LTL carriers look to ports to boost business Trucking companies such as Averitt are seeking more diversified freight and deeper connections to customers through transloading.
UPS to explore 'alternatives' for Coyote Logistics, announces layoffs UPS CEO Carol Tomé, who was on UPS's board of directors at the time of the 2015 Coyote acquisition, acknowledged UPS did not fully appreciate how cyclical truckload and intermodal brokerage was at the time.
Pre-Lunar New Year rush, Red Sea disruption boost Asia-Europe air rates, demand A seasonal push to get shipments out of Asia before factories close for the Lunar New Year may be masking a switch to air from disrupted ocean networks.
NY-NJ port chief sees delays, but no congestion, from Suez diversions While off-schedule ships are periodically crowding marine terminals, the port is not seeing any major impact from the longer transits as vessels reroute around southern Africa, Bethann Rooney said.
Hapag-Lloyd reports Q4 loss on falling rates, Red Sea disruption The oversupplied container shipping industry, falling rate levels and the need to divert around southern Africa for much of December contributed to a sharp drop in the carrier's revenue and profitability.
CMA CGM inks deal to lock in green fuel supply at Middle East bunker locations The carrier is the latest to partner with an alternative fuel supplier as the fast-growing dual-fuel order book puts producers of green energy under pressure to rapidly scale up supply.
ExxonMobil homes in on shipyard for shuttle tanker newbuilding slots Energy major sets aside berth space, but which shipowner will scoop the prize?
'Fake': Houthis claim attack on ship that turns out to be medevac instead Militant group's spokesman alleges strike on 'American merchant ship'
Houthis claim attack on second JP Morgan-linked ship CMA CGM-operated container ship hit with 'naval missiles'
Neptune Lines' Travlos bumps up newbuilding programme adding two car carriers Greek shipowner's expansion sees company ink more newbuildings at Fujian Mawei Shipyard
Neptune Lines' Melina Travlos bumps up newbuilding programme, adding two car carriers Greek shipowner orders more ships at Fujian Mawei Shipyard
'Money talks': Carbon costs driving boom in shipowners' transition spend, Wartsila's Roger Holm says Marine president explains that investment now will save money later
NYK inks 11th long-term charter with JERA for LNG newbuilding Shipowner locks away another vessel from its huge cache of on-order LNG carriers
Tsakos Energy Navigation confirms big-ticket swoop for five modern Viken tankers Greek company lays its hands on 'super eco' aframaxes, LR2s and a suezmax
UK sanctions efforts 'disturbing' as Russia evades price caps Expert tells British parliamentary committee that Europe running out of ideas for new measures targeting Russia
Taylor Maritime Investments forecasts strong improvement in 'finely-balanced' bulker market Ed Buttery-led owner sees fundamentals lining up in owners' favour over next two to three years
Somali pirates using hijacked fishing boats to launch attacks, shipping warned Captured vessels being used as motherships to extend the reach of Somali pirate attacks
Purus Marine lifts VLEC newbuild tally UK owner now has three on-order ethane carrier newbuildings fixed against charter deals
Product tanker rates now so high some traders no longer moving cargoes, Gibson says Something has to give in terms of either freight costs or commodity prices, broker believes
Norwegian sovereign wealth fund adds tanker and gas giants to $3bn shipping portfolio in record year Norway's fund buys Dorian LPG, NAT, Scorpio and Teekay Tankers in 2023
World shipping fleet expands with high newbuilding activity and historically low scrapping Clarksons Research reveals the statistics driving changes in the world fleet
Red Sea tanker traffic falls after Houthi missile strike on Marlin Luanda Fire on board Trafigura-chartered vessel leads to more operators avoiding the Suez Canal route
Red Sea crude tanker traffic falls further after Houthi missile strike Fire on board the Marlin Luanda has seen more operators shift from the Suez Canal route
Two piracy groups on the prowl in Indian Ocean, warns UKMTO New guidance comes as attacks and suspicious approaches of merchant vessels and fishing boats multiply
Saudi Arabian state shipping company Bahri sees profit slide on weaker VLCC rates But Saudi state shipowner saw an increase in gains from investments in other companies
Is 'striking back' the best way to tackle the Houthi menace to shipping? Biden administration faces pressure for action amid Red Sea and Gulf of Aden crisis but US strikes are what Houthis want
NYK inks eleventh long-term charter with JERA for LNG newbuilding Shipowner locks away another vessel from its huge cache of on-order LNG carriers
Iranian 'spy ship' and sanctioned VLCC sent for scrap as shadow fleet demolition sparks into life First hints suggest shadow fleet vessels are being sent to the beaches
Outcome of ransom talks on hijacked bulker key to future of Somali piracy, says EU The bulker Ruen has been held for more than a month after being seized in a piracy attack
ONE takes action in wake of Red Sea shipping crisis and Panama Canal drought Giant liner operator slides into loss in the third quarter but slightly ups full-year profit guidance
Harim's $5bn HMM takeover under pressure as alliance and bond questions emerge Sources in South Korea say sticking points remain with clock ticking towards new deadline
Euronav sells fleet data platform to expanding ZeroNorth Danish optimisation service also adds Saverys family-controlled owner to client list
Frontline's VLCCs 'still hold the key' to earnings, DNB says Tanker owner's first-quarter guidance will be main focus in report
Secondhand container ship deals plunge as enormous newbuilding pipeline hits But Alphaliner says recovery in asset prices is possible due to Red Sea rerouting
Wartsila targets 2025 for launch of pure hydrogen ship engine Finnish technology group sees demand for its shipping services growing this year
DNB's shipping loan book shrinks 9% Norwegian lender's total shipping loans fall to $3.2bn
Pair of piracy groups on the prowl in Indian Ocean, warns UKMTO New guidance comes as attacks and suspicious approaches of merchant vessels and fishing boats multiply
CMA CGM selects shipyard to retrofit neo-panamax container ships to run on methanol MAN's methanol dual-fuel engine will be used for conversion project
Norway's largest bank DNB sees shipping loan book shrinks 9% Norwegian lender's total shipping loans fall to $3.2bn
MOL third-quarter profit falls almost 60% on weaker liner trades Japanese owner makes little reference to the impact Red Sea crisis is having on the liner market
Chevron pulls plug on Red Sea passage for Kazakh oil heading to Asia Oil major says tankers carrying Central Asian nations' crude exports will take the long route via South Africa
Carnival confirms Red Sea diversions for 12 cruise ships US-listed cruise giant says diversions will impact its financial performance for the 2024 full year
Buttery's TMI in 'strong position' after cutting back debt, Kepler says London-listed bulker owner now has Japanese-built fleet with low average age
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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