IAPH joins Indian ports at the Indian Maritime University's first International Ports Conclave
CCTT and FFFAI jointly host 'India-And-World' Business Forum in Mumbai
WIZ Freight announces appointment of Jaspreet Singh as new Chief Commercial Officer, India
Maersk's Q1 results in line with expectations amid ongoing Red Sea disruptions
China's share in India's imports has been rising
CSMIA's cargo operations thrive in FY 2024 with 6% year-on-year growth, driven by 10% rise in international volumes
Exporters seemingly facing problems as B'desh eats cargo space through Delhi airport
Change seen in fronthaul & backhaul air freight corridors due to Middle East conflicts
Global air cargo tonnages return to growth
Acceptance of Electronic Certificate of Origin (e-CoO) issued by the issuing Authority of Korea under India-Korea Comprehensive Economic Partnership Agreement after implementation of India-Korea Electronic Origin Data Exchange System (EODES)
Container shipping market impacted by uncertainty in the Red Sea
VIDEO: Cunard's new Queen Anne arrives in Southampton Carnival Corporation's British luxury brand Cunard welcomed the newest addition to its fleet, Queen Anne, to its home port of Southampton, April 30, ahead of departing on its maiden voyage to Lisbon
Chouest expands its subsea capabilities with ROVOP acquisition The Cut Off, La., headquartered Chouest group has acquired Aberdeen, Scotland, headquartered ROVOP, a leading remotely operated vehicle (ROV) company that was previously a portfolio company of Bluewater Private Equity. With the
Jamaica orders 22 Metal Shark surface interceptor vessels Jeanerette, La., headquartered boat builder Metal Shark reports that it has booked a contract to build twenty-two welded-aluminum high-speed surface interceptor vessels for the Jamaica Defence Force (JDF). JDF has selected the
MABUX global bunker indices show stability During the 18th week, the MABUX global bunker indices remained relatively stable, lacking a clear directional movement. The 380 HSFO index experienced a modest increase of US$7.20 to US$557.55/MT compared to the previous week. Conversely, the VLSFO index continued its downward trend, decreasing by US$6.51 to US$687.76/MT. Similarly, the MGO index saw a decline of US$5.28 to US$870.80/MT. "At the
cargo-partner extends HHLA Pure partnership for CO2-neutral transport cargo-partner, the international transport and logistics provider has once again demonstrated its commitment to sustainability by prolonging its partnership with the HHLA Pure program for another year across its branches in the Czech Republic, Slovakia, and Hungary. Initiated in 2023, the collaboration between cargo-partner and the HHLA Pure program aims to cultivate climate-neutral transport cha
CMA CGM applies new PSS from Asia and India to Mauritius Marseiile-based ocean carrier CMA CGM has notified its customers of a forthcoming Peak Season Surcharge (PSS) effective from 15 May until further notice. The surcharge will be applicable for shipments originating from China, South East Asia, North East Asia, and India East Coast (including Kolkata, Cochin, Ennore, Haldia, Kattupalli, Krishnapatnam, Karaikal, Chennai, Paradip Garh, Tuticorin, and
Maersk reports Q1 results in line with expectations despite Red Sea crisis Maersk's first-quarter performance aligned with the company's expectations, reflecting a notable earnings rebound from Q4 2023. The positive results were propelled by Terminals' solid performance and a confluence of factors including increased demand and the ongoing Red Sea crisis, according to the statement. With these conditions anticipated to persist through the latter half of the year, Maersk
How to Find the best Shipping Container Hire Companies in Melbourne Navigating through the vast array of shipping container hiring services in Melbourne can seem daunting. Yet, finding a service that truly aligns with your storage necessities is vital. In this updated article, we unveil the distinctive features of superior shipping container hire services and guide you in selecting the ideal onsite storage units for your objectives. Characteristics of Premiere Sh
Höegh to temporarily deploy Australia-bound FSRU to Egypt Höegh LNG, Australian Industrial Energy (AIE), and Egyptian Natural Gas Holding (EGAS) have signed an agreement to deploy the FSRU Hoegh Galleon to Egypt. The FSRU will be deployed to support energy security in Egypt. The unit will be located in Ain Sokhna for a likely period of 19-20 months, after which it will be ...
Solstad Offshore wins new deals for four vessels worth $72m Norway's Solstad Offshore has won several deals in the offshore energy market with a combined duration of around 600 days, including mobilization and demobilization, valued at NOK 800m ($72.1m). The Normand Baltic CSV will be busy in the offshore wind market in Asia. It was awarded a minimum 70-day firm contract for cable repair support ...
Chouest Group expands ROV offer with ROVOP buy US-based Chouest Group has acquired ROV services provider ROVOP. With this acquisition, the company alongside its subsea service company, C-Innovation, will control a fleet of over 100 ROVs and 6 autonomous underwater vehicles (AUVs). The US firm said that bringing ROVOP under the company's umbrella not only expands its service offerings but also provides ROVOP ...
Copenhagen Infrastructure Partners and Uniper form hydrogen partnership Danish fund manager Copenhagen Infrastructure Partners (CIP) and Düsseldorf-headquartered energy company Uniper have teamed up to work on the production, transport, and marketing of green hydrogen from the HØST PtX Esbjerg project to Germany. Powered entirely by renewables, HØST PtX Esbjerg will produce up to 140,000 tonnes of green hydrogen per annum for use in ...
Equinor taps Subsea 7 and One Subsea for work on Wisting, Bay du Nord projects The Subsea Integration Alliance, a non-incorporated tie-up between Subsea 7 and SLB's OneSubsea, has inked a new long-term collaboration agreement with Norways energy giant Equinor. According to the companies, the new agreement enables early information sharing and other collaborative benefits critical to unlocking subsea projects by making them economically viable. This will also enable the ...
US sanctions four shipping firms among nearly 300 suppliers linked to Russia The United States has placed sanctions on more than 280 individuals and entities linked to Russia with four of them being shipping companies working on the Arctic LNG 2 project. With this massive-scale sanction wave, the US targeted Russia's future energy, metals, mining, and export capacity as well as sanctions evasion and circumvention - all ...
Fredriksen becomes top investor in Edda Wind Shipping tycoon John Fredriksen has become the top investor in offshore wind vessel owner Edda Wind after Norwegian shipowner Østensjø sold all its shares in the company for NOK 521.8m ($47m). Following the transaction, Østensjø - which held shares through its subsidiary Østensjø Wind - does not hold any shares or rights to shares in ...
Yinson Production closes $1.3bn financing for Agogo FPSO Singapore-based Yinson Production has agreed a limited recourse term loan facility of up to $1.3bn for the pre- and post-delivery financing of the Agogo FPSO. The financing is provided by a consortium of 13 lenders, including international banks and institutional investors, and will be utilised during the construction of the FPSO. The financing comprises three ...
Maersk raises profit outlook fuelled by Red Sea turmoil Danish liner giant Maersk has lifted the lower end of its full-year guidance as it expects the robust box market amid Red Sea disruptions to continue into the second half of the year. The Copenhagen-based shipping and logistics group said its first-quarter profit of $208m on revenue of $12.4bn against last year's $2.3bn and revenue ...
Trafigura orders ammonia dual-fuel gas carriers Commodities giant Trafigura has contracted four ammonia dual-fuel midsize gas carriers at HD Hyundai Mipo Dockyard in South Korea. The vessels will carry LPG or ammonia, with the first delivery due in 2027. One of the world's largest charterers, with around 400 ships under management, said the latest order was part of the company's commitment ...
Inaugural Geneva Dry launches The global dry bulk shipping community has converged in Switzerland this week for today's grand opening of the first Geneva Dry, a conference designed to be the annual summit for shipping's largest sector. Myriad parties on the sidelines of Geneva Dry organised by trading houses, shipowners, port agents, tech firms and brokers have given the ...
Mercuria seals VLCC newbuilds Mercuria Energy Trading has signed up for a fresh pair of very large crude carriers in China. The Swiss trader and charterer has struck a deal worth $240m with China State Shipbuilding Corporation for the construction of one owned and one chartered-in VLCC newbuild. The 300,000 dwt ships will be conventionally fueled and built at ...
Inland vessel breaks and sinks during loading operation The inland vessel Courage broke on Wednesday morning while loading sand at an excavation area on the Waal river near Deest in the Netherlands. The bow and the stern were still visible above the water while the middle part of the vessel was completely under water. Videos and photos of the vessel show that the ...
Pair of six-year-old LNG carriers primed for scrapping having never traded Two six-year-old, 174,000 cu m Korean LNG carriers have anchored in the layup waters of Labuan in Malaysia having remarkably never entered the gas trades thanks to faulty containment systems. South Korean media suggest the SK Shipping vessels - the SK Serenity and SK Spica - are now likely to be sold for scrap. Last ...
Mainstream tanker charterers consider relaxing their 'under 20' rule A new report from broker Braemar suggests mainstream tanker charterers might relax their 'under 20' rule over the coming couple of years as rates remain heightened and the tanker fleet ages to levels not experienced this century. Braemar analysis shows a full 18% of the world tanker capacity is likely to be over 19 years ...
China back as Australia's top coal client Further signs that the trade spat between China and Australia has come to a close. In 2020, China placed trade restrictions on several Australian exports in response to the Australian government calling for an inquiry into the origins of covid. In late March, following negotiations and a thawing of Australia-China relations, one of the last ...
Competition or collaboration? Dry bulk sector addresses low-carbon challenges ahead Reducing carbon emissions from shipping will test operators' adaptability and willingness to embrace the demands of their customers, writes Vasileios Gkikas, director of business development and global lead for dry bulk at class society, ABS. The challenges facing the dry bulk market are a microcosm of the broader struggle facing the industry - and will ...
Iran's oil exports robust in April but sanctions may yet bite The US has sanctioned 25 tankers and four LPG carriers year to date owing to Iran links. These measures have...
Changes afoot in Mexico and Canada, the largest crude exporters to US Gulf The recent drop in Mexican crude exports looks likely to be brief, but a new refinery will dampen exports more...
New UK economic crime law affects shipping companies everywhere, lawyers warn The UK's Economic Crime and Corporate Transparency Act is expressly worded to have extraterritorial effect. Big multinational shippers could choose...
High freight premiums to ship Russian crude supercharge profits for sanctioned trades Freight assessments from Argus Media highlight challenges facing Western regulators in enforcing the G7 price cap on Russia's oil and...
EU ETS and Red Sea crisis swell Maersk bunker bill in first quarter Maersk introduced a €23 per dry teu ETS surcharge on the east Asia to north Europe route during the first...
Maersk remains cautious on capacity outlook Capacity shortages and strong demand have propped up freight rates and will do so for another quarter. But beyond that...
Fredriksen becomes largest shareholder of offshore wind vessel owner Edda Wind was founded by Østensjø, which says it has 'mixed feelings' about selling its remaining stake in the offshore...
Trafigura returns to HD Hyundai Mipo with new order for ammonia-fuel gas carriers Commodities trading giant Trafigura has penned newbuilding contracts for four ammonia dual-fuel liquefied petroleum gas carriers, which will also be...
Huanghai Shipbuilding bags first tanker order amid spike in newbuild demand Brokers report each medium range tanker cost $50m, a five-year peak
Lloyd's Register funds maritime human rights project Human Rights at Sea is seeking greater visibility on its Geneva Declaration on Human Rights at Sea, including adoption by...
Former Guangzhou port bosses ensnared in China anti-graft sweep Shake-up in Guangzhou port's top management is part of broader results from Beijing's anti-graft drive, which has impacted many public...
Maersk lifts outlook on Red Sea disruption Higher demand and freight rates have led Maersk to raise the lower end of its guidance for the full year...
Daily Briefing Parallel fleet of dark tankers shipped just over half of Russian oil in April setting fresh record | Nitrous oxide...
US HHG imports await housing recovery after two-year tumble Elevated mortgage rates and inflation continue to drag down new home construction and remodeling activity, two of the major drivers of US household goods imports.
HMM plans for THE Alliance revamp with SM Lines trans-Pacific slot deal The tie-up is part of a wider move by individual members of THE Alliance to broaden their respective networks and maintain alliance commitments without adding a replacement carrier to succeed Hapag-Lloyd.
US HHG imports await housing recovery after two-year tumble Elevated mortgage rates and inflation continue to drag down new home construction and remodeling activity, two of the major drivers of US household goods imports.
Decline in US truck shipments, rates lowering truck market's floor: U.S. Bank Continued year-over-year contraction in truckload shipments and shipper spending in the first quarter means the next pricing upswing is likely to be slow, rather than sudden.
Tidewater delivers profit growth 'nicely above' offshore vessel giant's expectations US company sticks to forecast for revenue growth in 2024
Frisky Thursday for the capesize market as Pacific freight rates and futures jump up Futures market saw big gains on Thursday as suddenly everything started to look a little more rosy
Foremost injects youth into fleet with NYK-chartered newbuilds after string of sales Latest newbuilding deliveries, outfitted for biofuels, bring fleet age to five years
Viking Holdings' market cap nears $12bn after upward march from IPO Two days on the New York Stock exchange has translated into nearly $1.51bn in additional market value
Insurer of Baltimore bridge set to 'pay out $350m' over Dali disaster Experts say the anticipated payment will be the first of many following the 26 March bridge collapse
Hoegh LNG FSRU heads to Egypt as sub-charter with Australian project agreed Regas vessel set to stay on site for up to 20 months
CMB.Tech venture to develop Africa's first hydrogen-powered vessel Move is part of project to develop green hydrogen plant in Namibia for small ships
Trading giant Vitol sues shipowner for $3m over 'contaminated' cargo Commodities trader blamed leaking valves for the losses in oil shipment to Mauritius
Kristian Siem-backed Subsea 7 alliance gets the inside track on huge Equinor oilfields Kristian Siem-backed company and joint venture strike deal with Equinor
Swedish Club reports thirtyfold increase in paperwork to meet Russia oil cap demands Protection and indemnity provider reports impact of changes
Red Sea crisis to shield Maersk profit for next two quarters, says Vincent Clerc Even if the disruption lasted years, overcapacity would eventually humble the market, says liner CEO
Shipping lender NRP strikes $6.9m financing deal with US owner to fund cruise ship purchase Premium Maritime Credit Fund signed bilateral senior secured facility
Red-hot tanker newbuilding prices cool as momentum 'takes a breather' BRS says momentum in new ship values is slowing, but secondhand market has upside
Rare aframax fixture emerges as Canada opens Trans Mountain pipeline Suncor said to have booked first tanker to ship crude using new Vancouver berths
Pay slashed at Shell's chartering arm Stasco as profit falls UK accounts reveal oil group's trading and shipping management division hurt by higher tax in 2023
Methanol trumps LNG as the alternative fuel of choice for newbuildings this year First ammonia-fuelled vessel orders are starting to roll in
Yildirim tanker blamed for 'biggest ever spill' in Spanish enclave port The K Onset reported to have leaked up to 30,000 litres of fuel oil in Ceuta
Greek shipowner Coral back in dealmaking mode as it snaps up DSD product tanker Five-year-old product carrier becomes the youngest vessel in the Coral fleet
Maersk guidance 'disappoints' analysts and investors as shares tumble in early trading DNB, Fearnleys and Handelsbanken have 'sell' recommendations
Australia awards feasibility licences for first offshore wind projects Twelve potential projects off Victoria could start delivering up to 25 gigawatts within a decade
Analysts and markets digest Maersk first quarter financial report as shares take a tumble in early trading DNB, Fearnleys and Handelsbanken have sell recommendations
Belships in the money on leased newbuilding armada as values rise, Clarksons says Norwegian operator has a fully-financed play on a positive bulker market, according to analysts
Trafigura takes the plunge on ammonia fuel with order for four gas carriers Hyundai Mipo to build low-carbon vessels for delivery from 2030
Private equity investor Wayzata to sell International Seaways shares banked as part of $232m fleet sale US investor files to offload stock worth about $12m as first ships are delivered
John Fredriksen becomes biggest owner of Edda Wind as Idan Ofer and Wilhelmsen inject fresh cash Norwegian shipowner will control around one-third of the company following stock purchase
KOBC taps bond investors for $600m to fund South Korean owners' newbuilding plans Government body establishing itself as a frequent issuer in the global bond market
Maersk raises profit forecast with Red Sea disruption to last all year First-quarter results in line with expectations, giant Danish owner says
Tsakos Energy Navigation suezmax sale shows upward prices for old tonnage Nineteen-year-old tanker said to have fetched $2.5m more than identical sister ship sold four months ago
Repair bill dispute lands MR2 products tanker under arrest in Singapore Seizure of the Green Land has dragged on for almost two weeks despite a small claim amount
Seacon opens up on near $700m tanker drive and casts eye towards gas sector Chinese owner has been busy in the first year since floating and more deals could soon be in the works
Australia awards feasibility licenses for first offshore wind projects Twelve potential projects off Victoria could start delivering up to 25 gigawatts within a decade
Two capesizes linked to Lila Global sold to Chinese buyers Dubai-based firm has flipped at least one vessel for profit
Shipping addiction and meditation: How a fourth generation owner was inspired to reinvent a vast business Chairman Chavalit Frederick Tsao leads a transformation towards a sustainable, purpose-driven business model at Tsao Pao Chee Group
Seacor Marine's quarterly loss swells as operating cost rise outpaces revenue growth Day rates still rising for Houston shipowner's offshore supply vessels
Air Canada abandons plans for two Boeing 767 converted freighters Air Canada said Thursday it changed its mind about investing in two widebody freighters and will rely on its growing passenger fleet to increase cargo capacity.
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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