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MARCH 4, 2024

Prime Minister emphasises strength of Indian economy & its potential Railways continues to excel in freight movement Baltic Exchange Market Report (1 March 2024) CONquest 2024 - Business Forum & Northern India Multimodal Logistics Awards to bring together some of the best in the fraternity this Wednesday in New Delhi Schedule reliability drops again in January 2024 MPS is a leading importer of fresh fruits & vegetables in Middle East from SAARC, Far East, Gulf, Mediterranean & Africa DPA Chairman inaugurates new Admin Building on port's 60th Foundation Day Genre and species of salvage PM dedicates to nation & lays foundation stone of infrastructure projects at Syama Prasad Mookerjee Port Several countries want to trade in rupee with India, says FM Ban sought on export of low-grade iron ore fines NYK Group acquires UK-based delivery platform business for e-commerce operators India's export growth seen remaining higher despite Red Sea crisis Indian Navy safely escorts Castle Ships' vessel through Red Sea

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MARCH 4, 2024

Ankara's rail hub: links to all Turkish ports ICTSI's financial discipline pays off More belly capacity in less than three months Automated future at Sines Seaports appoints interim MD Ukraine/Turkey extend visas for goods transport Building a European transport network A strategic partnership for cargo handling A promotion and a recruitment Granting access to CPKC facilities EV battery regulations required 50 vessels, one alliance Jetblue Cargo enhances air cargo operations "Curiosity of the Day" More space to tranship rail cargo at Vladivostok JBHT: changing of the guard Combining forces on roads in Asia Pacific P&O Ferries charting a cleaner course

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MARCH 1, 2024

High transpac rates good news for carriers as new contract talks loom Ceva beaten to the punch as Wincanton accepts GXO takeover bid Cost of 'land bridge' alternative to Panama Canal too high for carriers Bangkok, Colombo and Dubai see major shift in cargo from sea to air K+N profits tumble as market 'normalises', but eyes expansion in Asia Boeing safety woes add to US aviation sector supply chain troubles EU ETS could be a new trading market for 'a bit of a gamble' DSV's Neom JV in Saudi Arabia comes under 'human rights' scrutiny

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MARCH 1, 2024

Unity Ukraine war risk insurance now covers all non-military cargo Marsh McLennan (NYSE: MMC) has announced a major expansion of its Unity Ukraine war risk insurance facility. Launched in November 2023 to support Ukrainian exports of grain and other critical food supplies HAV Design to design zero-emission autonomous ferry quartet for Fjord1 Norway's HAV Design has won a contract to design and develop four newbuild, zero-emission autonomous ferries for ferry operator Fjord1. To be built at Turkey's Tersan Shipyard, they will operate on the

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MARCH 1, 2024

SC Ports bolsters rail capacity to support port-reliant enterprises Through collaboration with rail partners and support from state officials, South Carolina Ports (SC Ports) aims to enhance rail capacity across South Carolina to effectively manage the increasing demand for goods in the state's economy. The development of the upcoming Navy Base Intermodal Facility in North Charleston is progressing smoothly. Set to debut in July 2025, this cargo facility connecte Unpredictable movement in MABUX prices worldwide During the ninth week of the year, Marine Bunker Exchange (MABUX) global indices exhibited irregular fluctuations without a discernible pattern. The 380 HSFO index experienced a marginal decline of US$0.32, slipping to US$519.50/MT. On the opposite direction, the VLSFO index increased by US$1.42 to US$674.96/MT, while the MGO index saw a decrease of US$4.84, falling to US$904.54/MT. "Currently, t Empty container movements surge by 20% Utilizing data from Container Trade Statistics (CTS) on the movement of full containers between regions, Sea-Intelligence estimated the corresponding trends in empty container movements. Empty container volumes, when compared to 2019 levels to mitigate the effects of pandemic-related volatility, have consistently stayed around a 20% increase in the past few months. "Source: Sea-Intelligence.com, Hapag-Lloyd increases rates from North Europe and Mediterranean Hapag-Lloyd has unveiled new ocean tariff rates for shipments from North Europe to destinations including India, Pakistan, the Red Sea, and the Arabian Gulf. The updated rates will apply for 20' and 40' dry containers, as well as high cube equipment. This adjustment will take effect for sailings commencing on 14 March and will remain valid until further notice. US$ per 20' dry container From* To* Asian ports eye Gemini Cooperation potential impact Key Asian ports that have been ostensibly excluded from Gemini Cooperation are monitoring the potential impact once the Maersk-Hapag-Lloyd tie-up starts in 2025. Taiwan's main container port, Kaohsiung, is not among the ports listed in Gemini Cooperation's service line-up, and in a recent interview with local media, Taiwan International Ports Corporation's Kaohsiung branch's CEO, Wang Chin-jung, German box ports' hinterland rail freight on uptrend The German Federal Logistics and Mobility Office (BALM) conducted an extensive analysis on the evolution of container transportation via water and rail over an extended period. As per the analysis, rail-based container transport in Germany witnessed a significant surge of approximately 86% from just under 4.2 million TEUs to around 7.7 million TEUs between 2005 and 2022. This notable increase was Emirates Shipping Line strengthens its Far East/Middle East service network Emirates Shipping Line (ESL) has announced the introduction of its new COSMOS (CMX) service and the enhancement of its existing GALEX (GLX) service aiming to optimize transit times and increase frequency between the Far East and the Middle East. The port rotations of ESL's services will be as follows: COSMOS: Shanghai (China) - Ningbo (China) - Da Chan Bay (China) - Jebel Ali (UAE) - Sohar (Oman) Ankara's new intermodal terminal commences operations The initial stage of the Ankara Port Baskent OIZ Eti Logistics Ankara Intermodal Terminal has been launched, boasting a container capacity of 500,000 TEUs and a dry bulk capacity of 20,000,000 tons. Additionally, this development includes the inauguration of a railway connection and a 700-meter platform, facilitating the successful launch of train operations at the terminal. This new hub is expec Klaipeda Port announces tender for offshore wind marshaling harbour development To accommodate the development of the two Lithuanian wind farms, as well as other projects in the Baltic Sea, Klaipeda Port announced an international tender for the reconstruction works of quays and dredging of the first stage. The director general of the port authority Algis Latakas said, "With favorable conditions for the development of offshore wind farms and numerous wind farm projects in pr PSA Sines receives six new automated RTG cranes Portugal's terminal operator PSA Sines initiated its journey towards fully automated yard operations with the arrival of six new fully automated Rubber Tired Gantry Cranes (aRTGs). These cranes will complement the existing twenty-nine-yard cranes, empowering PSA Sines to enhance its operational capacity. Expected to bolster productivity and safety while advancing sustainability objectives, these

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MARCH 1, 2024

Trio looking to develop hybrid wind-solar project offshore Italy Offshore floating photovoltaic (OFPV) specialist SolarDuck, Italian asset manager Green Arrow Capital, and compatriot developer New Developments have agreed to collaborate on the development of a 120MWp OFPV farm integrated with 420MW of floating offshore wind. The project will use SolarDuck's elevated platform technology that allows PV panels to be deployed in significant wave heights ... Berge Bulk orders ammonia-ready newcastlemax pair in China The leading newcastlemax builder in the world, CSSC Qingdao Beihai Shipbuilding, has bagged another order for a pair of ammonia-ready bulk carriers. James Marshall-led Berge Bulk has gone to northeast China, signing for a pair of 210,000 dwt newbuilds, estimated to cost $80m each. Earlier this week, Splash reported fellow Singapore owner Eastern Pacific Shipping ... Grindrod offloads another handy bulker Grindrod Shipping has continued its ship divestment campaign, with another handysize unit set to exit the fleet. The Singapore-based bulker owner is selling the 2012-built for $11.7m. The 28,200 dwt ship built at Imabari should be delivered to an unnamed buyer by March 21, the company said. In January, Grindrod sold the 2007-built handy IVS ... Lidl's Tailwind crowned fastest-growing boxline in the world The fastest growing containerline fleet in the world in percentage terms is a brand better associated with low-cost goods on the European high street. While other retail chains have pulled back from chartering in ships since the covid pandemic waned, Tailwind Shipping Lines, owned by the parent of Germany's Lidl supermarket chain, has doubled down, ... Mermaid Maritime sets up joint venture in Vietnam Thailand's Mermaid Maritime, via its subsea services unit, has established a joint venture company in Vietnam with local marine contractor Tan Cang Offshore. The Singapore-listed company said the new company, called Tan Cang Mermaid Subsea Services, will be involved in remotely operated vehicle (ROV) services, vessel chartering and transportation and installation support services. The business ... Helix bags Talos decommissioning deal in US Gulf New York-listed Helix Energy Solutions has penned a five-year deal with Talos Energy for offshore decommissioning work in the US Gulf of Mexico. The Houston-based firm said the agreement covers normal course abandonment of offshore wells, pipelines and platforms. Helix's Louisiana-based unit, Helix Alliance, will use derrick barges for structure removals, liftboats for plug and ... The Chinese digital octopus spreading its tentacles through smart port ambitions Andre Wheeler carries a warning today about China's LOGINK digital platform. As the world of shipping has moved towards smart ports, China has quietly been strengthening its position of power over global trade via its data aggregation platform that has been embedded into port and terminal operating systems. Initially, the level of data exchange and ...

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MARCH 1, 2024

The IMO is speaking softly on greenhouse gases. The time may come to use the big stick Substantive regulatory measures should be the last resort. But last resorts are sometimes unavoidable The mess of EU ETS compliance: 'No pub, no beer' The EU has added a compliance burden without the regulatory framework for companies to comply with it. Lack of charter... Grimaldi expands capacity on Igoumenitsa service Brindisi-Igoumentisa service 'an essential bridge' for transport between Italy and Greece Kuehne+Nagel profits fall as market normalises A 'persistently challenging' environment characterised 2023. But earnings remain far above pre-pandemic levels Hafnia in the dark as Danish authorities confirm sanctions investigation 'We do not carry Russian oil', insists product tanker giant Hafnia, as the Danish Business Authority presses ahead with an... Yara inks binding agreement to buy green ammonia The long-term offtake agreement covers a yearly volume of 100,000 tonnes of green ammonia compliant with EU regulations Container rates slide as parties head into negotiations Carriers and shippers will meet in Long Beach next week to begin negotiating this year's transpacific contracts. Discussions are expected... Is shipping's decarbonisation revolution about to start slow steaming? The shipping industry and governments are attempting to negotiate the most difficult and controversial details of a global greenhouse gas... RightShip GHG rating emerging as emissions benchmark amid CII concerns RightShip's efforts to remove the influence of power-limitation tools for its greenhouse gas rating has boosted the popularity of the... Shipmanagers can now agree to take on ETS liability, but remain reluctant The way the EU decides which entity is the 'shipping company' responsible for surrendering carbon credits is still not clear... Pacific Basin pins hope on demand despite profit slump Pacific Basin sees net profit plunge on weak dry bulk market and global volatility Daily Briefing Red Sea crisis deals blow to Piraeus' standing as East Med's transhipment king | Shipping prepares for its first dance...

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MARCH 1, 2024

MSC reinstates India-USEC 'Indusa' string amid now-routine Red Sea diversions The capacity reinstatement is also a boon for Indian shippers facing intermittent void calls and longer transits as they try to maximize exports ahead of the current fiscal year closing on March 31. Modest economic hit from Red Sea disruption obscures larger shipping changes Even as the industry seemingly adjusts to the new status quo of routing ships around southern Africa, there's significant -- yet less apparent -- changes afoot in container shipping, writes Journal of Commerce Executive Editor Mark Szakonyi. Overland Saudi container transits gain traction amid Red Sea diversions The prospects of trucking goods from the eastern coast of Saudi Arabia's to the trade hub of Jeddah on the Rea Sea looks increasingly more favorable amid soaring ocean spot rates and few signs that southern Red Sea security will be restored soon.

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MARCH 1, 2024

Tanker owners are their own worst enemy in VLCC rate 'grind', Frontline boss says Lars Barstad says tanker companies should not be competing against each other as charterers play their cards well Several injured in Red Sea 'security incident' on stricken Rubymar Ten days after missile attack, vessel becomes scene of more violence Editor's selection: CMB hungry for big bulkers, Fredriksen's Frontline payback and Robert Yildirim's unusual hobby... What has been making the news this week? Sanctions heap pressure on Urals-hauling shadow fleet Mounting campaign by G7 powers likely to hit Urals trade but leave Far East unaffected, says Vortexa 'Eyebrows raised' at unusually low price for car carrier sold by Hoegh Autoliners Veson Nautical analyst Andrea de Luca says the buyer of Hoegh Chiba may have got the better deal Eagle Bulk beats profit and earnings forecasts in 'final' quarter as a public company Stamford owner confirms sale of two 2009-built supramaxes for $29.1m VLCC rates fall back to earth to kick off March after big rally The largest tankers are only slightly ahead of where they started February, despite rates topping $80,000 per day during the month New Fortress starts up its FSRU-based Santa Catarina terminal in Brazil After a long delay, company doubles up by adding two facilities in same week Seafarer 'pass-the-parcel' leaves crew vulnerable to exploitation India says it has charted more than 200 cases in which recruited seafarers end up on the wrong ship Insurance broker Marsh expands Black Sea war risk collaboration with Ukraine New private-public insurance facility will be expanded to include all critical export cargoes Major steelmaker hints at shipping exit after en-bloc bulker sale Izmir Demir Celik shakes out all the vessels it bought when entering shipping 15 years ago There's a catch as owners compete to 'get feet wet' on VLCC orders, Lars Barstad says But Frontline boss has been too busy integrating new Euronav ships to focus on newbuildings Container giants face trillion-dollar price tag on 2050 net-zero target AlixPartners' study says boxship emissions are 'dangerously high and climbing' Altera confirms sale of $280m fleet of super-large anchor-handlers to Boskalis UK-based group wants to focus on FPSOs, shuttle tankers and carbon capture Hanwha Ocean clarifies its ownership of sanctioned Arc7 LNG newbuilding Shipbuilder says 'incorrect' information was published on the Pyotr Kapitsa which has since been amended DFDS engages banks to sell new senior unsecured bonds Danish ferry owner to issue bonds in Norwegian kroner Atlas Maritime clinches record three-year charter for modern aframax Owner Leon Patitsas sees Phillips 66 fix a 2023-built aframax at a level and duration nowhere on the record Rokke's refinancing deal costs drag on Solstad Offshore earnings Administrative expenses rise and impairment charges contribute to quarterly loss 'Constructive outlook' as newbuilding and secondhand activity increases, Ocean Yield's Rode says S&P company playing an instrumental role in owners' fleet renewals, boss argues Ultrabulk closes in on ammonia-fuelled vessels order after ship sales Contracts for new vessels expected to be signed this year, Danish operator says 'Crazy' billionaire boxship investor Robert Yildirim is buying football clubs for fun CMA CGM backer gets a kick out of purchasing teams in Europe, Africa and South America Havila Kystruten's new finance chief joins from Kistefos' Norgas Carriers Oslo-listed cruise company also hires new marketing chief Berge Bulk signs ammonia-ready newcastlemax order in China Shipowner returns to newbuilding market after a six-year hiatus Low-profile Greek player MPP Carriers nears the 10-ship mark Linked to a Ukrainian-born shipping entrepreneur, Athens outfit has been quietly scooping up bulkers on the secondhand market Fredriksen-backed Edda Wind sells first ship but others hit by technical trouble Vessels taken out of service with gangway problems Ultrabulk closes in on ammonia-fuelled bulker order after ship sales Contracts for new vessels expected to be signed this year, Danish operator says How 'crazy' billionaire boxship investor Robert Yildirim is buying football clubs for fun Wealthy CMA CGM backer is buying football clubs in Europe, Africa and South America Shipping proves more profitable than Pizza Hut and Taco Bell at Thoresen Thai Thai company says shipping and offshore accounted for 71% of its net profit in 2023 Uni-Asia leverages high asset prices to offload older bulkers Singapore-listed company says shipping markets have normalizing as factors such as port congestion ease post pandemic Berge Bulk inks ammonia-ready newcastlemax bulk carrier order in China Contract marks company's return to the newbuilding market after a six-year hiatus

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MARCH 1, 2024

Kuehne+Nagel operating profit cut 50% in 2023 Kuehne+Nagel is the largest logistics company in the world, but it wasn't immune to downward market forces in 2023. Red sea disruptions among critical supply chain risks in 2024 Houthis, the Lunar New Year, drought in the Panama Canal, an impending potential strike and the upcoming election mean rough seas in 2024. Here's how shippers can protect themselves. Restocking boosts January US port activity The CEO of the Port of Long Beach boss cited restocking ahead of the Lunar New Year as the driver for import growth in January.