MoPSW aims to expand shore power infra at Major Ports
Supply chain realignments position India, SE Asia as leading manufacturing hubs, beyond China
Relaxation in the provision of submission of 'Bill of Export' as evidence of export obligation discharge for supplies made to SEZ units in case of Advance Authorisation
Unifeeder introduces 'GreenBox' to facilitate lowering of Scope 3 emissions
DP World becomes ICC top tier partner to deliver cricket at every level
More effective inventory management urged to reduce supply chain risk
Houthis attack shipping again
Moody's sees India's GDP growth at 6.8 pc in 2024
China unveils domestically developed large LNG carrier
Adani Ports Mundra handles record 17.62 million tonnes in May
Reduced discharge at Haldia berth due to maintenance
DP World provides new finished vehicle solution for essential Mexico-US trade route
AD Ports Group & Economic Development Board of Madagascar ink MoU to explore development of ports, maritime & logistics
CMA CGM Rate Restoration Initiative 4 (RRI04) from North Europe & the Mediterranean to/via USA, Canada & Mexico
NXT's new cable laying vessel will be methanol fueled Danish-headquartered power cable designer, manufacturer and installer NKT has named its second cable laying vessel NKT Eleanora, meaning "shining light." Under construction by Fincantieri Group member Vard to a design by Norway's
Industry task force wins double AiP for ammonia-fueled containership design A design for an ammonia-fueled containership has been awarded Approval in Principle by classification societies ABS and Lloyd's Register (LR). The design has been developed by a cross-industry task force led by
MSC joins Ship Repair USA next week in New Orleans For a second year in a row, the Military Sealift Command (MSC) will be hosting several presentations aimed at shipyard and ship repair yard suppliers-both OEMs and non-OEMs alike-at Marine Log's Ship
Wiernicki: "Are you ready for FuelEU Maritime?" "FuelEU Maritime comes into force in precisely 211 days. Are you ready?" That was the question that ABS chairman and CEO Christopher J. Wiernicki posed as he launched the Posidonia 2024 event
CMA CGM applies new PSS from Asia to La Reunion CMA CGM announced the implementation of a new Peak Season Surcharge (PSS), which will be effective from 1 June 2024 (loading date). This surcharge applies to shipments originating from Asia (including China, Taiwan, Hong Kong & Macau SAR, South East Asia, South Korea, and Japan) destined for La Reunion, a French department in the Indian Ocean. The surcharge will remain in effect until further not
PhilaPort names new European representative After 27 years of dedicated service, Lutz Ehrhardt has decided to retire from his role as PhilaPort's representative in Europe. Based in his hometown of Hamburg, he served as The Port of Philadelphia's liaison with ocean carriers, shippers, and government officials in one of the world's largest shipping markets. "Now enough is enough and it's about time for the next generation to take over," stat
Inchcape Shipping Services takes over Grieg Logistics Inchcape Shipping Services, a global leader in port agency and marine services, announced the successful acquisition of Grieg Logistics AS from the Grieg Group. This strategic move underscores Inchcape's dedication to providing top-quality operations and exceptional personnel in every port. Under the new ownership, Grieg Logistics will continue to operate under its existing name for a transitiona
COSCO switches 16,000 TEU quartet to run on methanol COSCO Shipping Lines has announced that it will switch four 16,000 TEU newbuildings to be dually fuelled with methanol, from conventional fuel. The company said this is in line with its plan to comply with the global goal of achieving decarbonisation in 2050. As a result, the price of the newbuildings will be increased from US$620 million to US$734 million. For reference, Clarksons' data shows th
KEZAD Group and NMDC Energy sign US$100 million deal for new manufacturing facility Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the largest operator of integrated and purpose-built economic zones, has signed an agreement with NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), to establish a new manufacturing facility in KEZAD. The 50-year lease agreement, signed at the Make It In The Emirates Forum 2024, involves an investment of US$100 million by NMDC Ene
GEODIS, L-Acoustics open regional distribution centre in Singapore GEODIS, a leading global logistics provider, and L-Acoustics, a top name in premium professional sound, have opened a new regional distribution centre in Singapore. This marks L-Acoustics' first Asian Pacific distribution centre, demonstrating the manufacturer's dedication to this strategic and expanding market. "Our mission is to strengthen our ties with clients, creating a hub from which we can
Pioneering Virtual Container Freight Futures Trading Competition: An Exclusive Interview with BANDS Financial and Linerlytica BANDS Financial and Linerlytica launch the first virtual container freight futures trading competition exclusively for companies and executives in the container shipping sector along the Asia-Europe route. In an interview with Antonis Karamalegkos, Managing Editor of Container News, Johnson Leung, Director of Linerlytica, and Tiger Shi, CEO of BANDS Financial, discussed the competitive landscape,
Evergreen enhances fleet monitoring with Carrier Transicold's technology As one of the world's leading shipping lines, Evergreen Marine Corp. is enhancing its operations by equipping 7,000 of its 40-foot high cube refrigerated containers with Carrier Transicold's Lynx Fleet solution. Carrier Transicold, a division of Carrier Global Corporation and a global leader in intelligent climate and energy solutions, provides this advanced technology. Lynx Fleet allows for remo
How to Use Telematics for Real-Time Monitoring and Accident Prevention in Freight Trucks Vehicular telematics combines GPS, wireless devices, black box technologies and onboard vehicle diagnostics to record and transmit vehicle-related data. This technology streamlines logistics for freight companies and bolsters driver safety on a systemic and interpersonal level. In prior decades, telematics was predominantly known for its basic speed and location-tracking capabilities and dashcam
Port of NYNJ and U.S. Army Corps announce major investments The Port Authority of New York and New Jersey has announced a comprehensive investment package in partnership with the U.S. Army Corps of Engineers to enhance navigational safety and efficiency at the East Coast's busiest container port. These investments aim to significantly improve the safety and efficiency of the Port of New York and New Jersey, fostering the growth of a national economic powe
Diana Shipping fixes out bulker to Aquavita International New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Aquavita International for one of its vessels. Aquavita chartered the 2013-built, 81,150 dwt post-panamax bulker Electra for a gross charter rate of $14,000, minus a 5% commission paid to third parties, for a period until a minimum of October 15, ...
Capital Product Partners orders six dual-fuel medium gas carriers Greek owner Capital Product Partners has continued its expansion into the gas sector with the order of six dual-fuel medium gas carriers (MGCs). The total value of the order is $756m but includes the price of the previously ordered four liquified CO2 multi-gas carriers. The deliveries are expected to happen between the first quarter of ...
Banaszkiewicz's FIS acquires bulker broker GR8 Chartering John Banaszkiewicz-led of freight and commodity futures broker Freight Investor Services (FIS) has announced the acquisition of GR8 Chartering Hellas at the Posidonia event in Athens, Greece. According to a statement by FIS, the acquisition will bring GR8 Chartering's expertise in physical shipping into the group and increase its presence in Greece which is one ...
Stena Sonangol Suezmax Pool grows with Hammonia Reederei addition The Stena Sonangol Suezmax Pool, a joint venture between Stena Bulk and Angolan state-owned energy company Sonangol, has added a vessel from German ship management company Hammonia Reederei to the pool. Hammonia's 2020-built 156,000 dwt crude oil tanker Aura M has joined the pool's fleet which up to now has stood at 19 vessels which ...
Future fleet developments in the spotlight at Capital Link Future fuels, newbuilding moves, and how to improve the ships of today were at the fore in the opening panels at this year's gathering of shipping heavyweights at Capital Link the first of the big conferences in Athens as part of Posidonia Week. The event was officially opened by Greek shipping minister Christos Stylianides followed ...
U-Ming to step into LNG sector and increase fleet to 100 ships Taiwanese shipowner U-Ming Marine Transport has revealed a long-term strategic goal during a shareholders meeting of owning a fleet of 100 vessels with a total deadweight tonnage of over 10m tonnes. This would mean a considerable addition to the 72-strong fleet which includes capesize, panamax, post-panamax, supramax, ultramax, cement carriers, VLCCs, VLOCs, and CTVs for ...
Adani Ports wins Tanzania concession The rapid transformation of the quayside at Tanzania's largest city is set to shake up trading patterns in East Africa. Following DP World's concession win last October, a consortium led by India's largest port operator Adani Ports has also just been given the nod to develop a terminal at Dar es Salaam Adani has been ...
New ammonia-powered 3,500 teu feeder design revealed The two classification societies ABS and Lloyd's Register have awarded approval in principle (AiP) for a new ammonia-fueled 3,500 teu containership design. The new design has been developed by A. P. Moller-Maersk, MAN Energy Solutions, Deltamarin, Eltronic FuelTech, ABS, and LR - led by the Maersk Mc-Kinney Møller Center for Zero Carbon Shipping. The design ...
More shipyard capacity needed to meet green targets: ABS More shipyard capacity will be required in the coming decade, both for newbuilds and retrofits, according to an influential new magazine published at Posidonia in Athens today. Class society ABS released its 150-page 2024 Outlook today, the sixth in an annual series that gives readers a comprehensive picture of the world fleet moving forward. New ...
Havila Shipping bags three-year MPSV extension with Reach Subsea Norwegian offshore vessel owner Havila Shipping has secured another charter extension from compatriot offshore contractor Reach Subsea for the multipurpose support vessel (MPSV) Havila Subsea. The 2011-built vessel has been under contract with Reach Subsea since October 2021. The original deal was set to expire at the end of 2023 but was extended until the ...
One more semisub heading for the scrapyard The trend of sending old drilling rigs to the scrap yard continues. After Dolphin Drilling sold two of its rigs for scrap in quick succession, offshore drilling rig owner Constellation sold one of its rigs for scrap as well. Constellation said in its first quarter financials that its subsidiary which owns the 1983-built Olinda Star ...
OPEC+ extends oil output cuts into 2025 Members of OPEC+ agreed over the weekend to extend most of their deep oil output cuts beyond 2024. The decision was aimed at shoring up the market amid weak global oil demand, high interest rates, and rising US production. The cuts include 3.66m barrels per day of reduced output, which were due to expire at ...
ADNOC L&S buys Navig8 in a deal worth over $1bn ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company, has announced an agreement to acquire 80% of UK-based tanker owner and pool operator Navig8 for AED3.8bn ($1.03bn). Under the terms of the agreement, ADNOC L&S will acquire the remaining 20% ownership in 2027 for a ...
Egypt and Brazil look to enter the ship recycling sector New final destinations for ships are opening up with both Egypt and Brazil looking to get into the ship recycling sector. Egypt's transport ministry has signed a memorandum of understanding with El Wehda Industrial Company to develop a shipbreaking yard at Damietta Port as part of the government's bid to be less reliant on imported ...
Maersk debuts the FFF The company that brought world shipping the EEE containership has now debuted the FFF. Maersk is replacing its existing bunker fuel surcharges - the bunker adjustment factor (BAF) and the low sulphur surcharge (LSS) - with a new combined fossil fuel fee (FFF) effective from July 1. The Danish carrier said the move was made ...
Scrubber technology for ammonia-fuelled ships unveiled at Posidonia HD Korea Shipbuilding & Offshore Engineering, the holding company of South Korea's largest shipbuilder, has unveiled new technology at Posidonia in Athens that reduces toxic gas emissions from ammonia fuel to nearly zero. Ammonia-fuelled vessels are being developed by shipbuilders all over the world, however, the key has always been how to safely eliminate the ...
What happens when the Houthis stop shooting Andrew Craig-Bennett gives his take on shipping and the Middle East. Well, isn't life just wonderful! We have, for most practical purposes, one of our forebears' favourite things, a Suez Canal closure! Just when the freight markets ought to be heading downwards, we are having a splendid time, because this closure has now gone on ...
Economou takes Seanergy battle to the next level as he pushes for board shakeup Things are heating up again between Greek capesize specialist Seanergy Maritime and fellow shipping magnate George Economou. Just as his pursuit for board seats at bulker players Genco and OceanPal had ended, Economou came out with two nominees to the Seanergy board, the latest of moves on the Stamatis Tsantanis-led company. Economou, who owns nearly ...
300,000 extra teu added to record liner orderbook Hot on the heels of X-Press Feeders' order for four methanol-ready containerships at Shanghai Waigaoqiao Shipbuilding, other owners are returning to China for more newbuild tonnage as rates continue to rise to the next highest level seen outside container shipping's boom during the covid pandemic. Seaspan is ordering boxships following a massive newbuilding campaign in ...
Vanhui Shipping signs for ultramax newbuilds Vanhui Shipping has moved to expand its dry bulk fleet with a pair of ultramaxes at Jiangsu Haitong Offshore Engineering Equipment. The Hong Kong-based outfit has contracted 63,500 dwt units for delivery in the first half of 2027 at an undisclosed price. The company is listed with six bulkers, and it ordered newbuilds last time ...
Subsea 7 seals $1.25bn pipelay support vessels deal in Brazil Oslo-listed Subsea 7 has landed a new billion-dollar deal with Petrobras by fixing four pipelay support vessels (PLSVs) from 2025. The contracts with a combined value of over $1.25bn cover the PLSVs Seven Rio, Seven Cruzeiro, Seven Sun and Seven Waves. All ships have a history of operating on deepwater developments for Brazil's state-owned oil ...
Maersk hikes guidance again as congestion and spot rates mount A common refrain among analysts and investors is that container shipping lines have been far too conservative in their 2024...
Capital Product Partners agrees acquisition of 10 Marinakis gas carriers Nasdaq-listed partnership plans to part-fund the $756m purchase price using $182.5m in proceeds from recent boxship sales
Charleston boxship backlog blamed on infrastructure work, server outage A backlog of boxships waiting to enter the port of Charleston has swelled in recent weeks amid infrastructure improvement project...
Tankers are getting older - and could get a lot older in the years ahead The goal of decarbonisation is that the tanker fleet age should fall and ships should become more fuel-efficient and emit...
Dark fleet practices threaten industry integrity, Lloyd's told Cluster of warning signs should be seen as red flags by marine insurers, Wiese Bockmann contends
Houthi Red Sea horror recounted as missile shrapnel misses master's head by centimetres Norwegian insurer DNK has provided fine detail of the attack, one of 21 ships struck by Houthis in the Red...
Posidonia preaches pragmatism in the absence of a green premium The early headline theme from the shipping industry's Posidonia biennial has been a warning that a shift away from conventional...
A spoofer's guide to sanctioned gas trades The commercialisation of Automatic Identification System data in recent years and the increased access to vessel location data means sanctions...
Week in charts: Desperate shippers push box rates higher | Soaring newbuilding prices outpace dry bulk market | Seafarers kidnapped in Gulf of Guinea Shippers' efforts to beat congestion are driving spot rates up, newbuilding prices for bulkers continue to escalate, and two seafarers...
Inchcape acquires Grieg Logistics to expand port services portfolio Inchcape Shipping says the acquisition would strengthen its capabilities in shipping, raw materials, energy and governmental services
The week in newbuildings: Tanker orders rise almost 40% year-on-year The tanker sector has contributed the lion's share of newbuilding contracts so far in 2024, with 35% of orders attributed...
Mandatory green fuel supply rules needed in EU states as projects at risk Lobby group identified 17 e-fuel projects that could supply shipping with up to 1m tonnes by 2030
Standard Chartered grants its first ship-based transition loan for Chinese market to CCB Leasing This is the first loan of its kind in China's financial leasing market, the bank said
Economou backs pioneering GreenSeas digital platform Leading Greek shipowner emerges as 50% partner in Evident, the first Hong Kong SFC-licensed platform for alternative assets
Seafarers kidnapped in Gulf of Guinea The master of a general cargoship and its chief engineer have reportedly been kidnapped in an incident very similar to...
World Shipping Council welcomes mandatory lost container reporting Masters will have to notify nearby ships, the nearest coastal state and the relevant flag state about lost containers under...
HD KSOE touts ammonia scrubbers and leak detector amid rising eco-fuel demand Products unveiled by South Korean builder HD Korea Shipbuilding & Offshore Engineering in Athens include an ammonia exhaust gas cleaning...
Seacon signs sale-and-leaseback deal with Bank of China for handysize bulker Seacon has a total newbuilding capacity of more than 1m dwt
Adnoc Logistics & Services buys tanker operator Navig8 in $1.5bn deal The Abu Dhabi state-owned oil company will purchase 80% of Navig8 now for $1.04bn and the remaining 20% in 2027...
Frangou flaunts diversity as durable Navios aims to stick around Change from single-sector model to a diverse shipping company was an example of a venerable company's ability to learn lessons
Ammonia-powered containership approved by class societies The project involves big hitters from across the shipping industry, including Maersk, MAN, Deltamarin and Lloyd's Register
Daily Briefing Soaring newbuilding prices are outpacing the dry bulk freight market | Singapore battles port congestion as Red Sea crisis snarls...
Umas rebrands as green transition needs evolve After nearly 10 years working to prove shipping must go green, London-based Umas wants to help companies do it in...
Maersk upgrades earnings guidance amid bullish market fundamentals The container shipping market has been roiled by the ongoing ship diversions around southern Africa that are now causing congestion to build at key load ports in Asia as carriers curtail or blank services amid port omissions.
UPDATE: Charleston working through lingering vessel backlog Container ships are anchoring outside both southeast US ports due in part to a project in Charleston that will shut one berth at the Wando Welch Terminal until the fall.
Baltimore import bookings rebound as port's full ship channel to reopen soon Evergreen Marine's neo-Panamax service from Asia will start making regular calls to Baltimore by mid-July, and the port's container terminal is ready to start receiving imports.
High water levels close Rhine River to barge traffic after flooding rains The Rhine is one of the most important commercial waterways in Europe and its closure is pushing traffic to the road and rails where there is limited capacity.
Container market hearing echoes of pandemic-era dynamics: analyst With vessel capacity tight and freight rates on the rise, there are several market dynamics that emerged during the pandemic that are already beginning to play out once again, writes Lars Jensen.
India-Europe carriers see strong rate gains for early peak season bookings Spot rate quotes secured by forwarders from major carriers for sailings near the end of June are up between $500 to $600 per container on average from levels seen for the first half of the month.
Resurrected Convoy app gaining traction among small carriers, brokers: Flexport The post-pandemic resilience of small fleets has been attributed in part to driver reliance on apps like the one Convoy built, which Flexport purchased last November.
Demand fears put Europe's emissions targets at risk: clean energy group The huge investment required to produce green fuels for the shipping industry needs to be underpinned by certainty over demand, which suppliers are not yet seeing, according to the European climate activist Transport & Environment.
George Economou rains scorn on Seanergy's party as proxy threat intensifies Greek tycoon's Sphinx says Stamatis Tsantanis has rejected requests for direct discussion
New hot spot for Russian oil transfers emerges off Morocco Three aframaxes and VLCC gather off coastal city of Nador after Greek naval action
Maersk adds $3bn to forecast as rising demand and Red Sea meet port congestion Danish shipping giant now expects to be cash-flow positive for 2024
Capital Product Partners scoops up 10 gas ship newbuildings in $756m energy transition play Greek owner drops medium-sized vessels and CO2 carriers into US-listed entity
Sanctions produce carbon, Hing Chao warns amid downcast views of war and peace The multipolar world leads to conflict and shipping stands to lose, Hong Kong owner warns
Adnoc L&S chief explains Navig8 megadeal stealing the show at Posidonia Captain Abdulkareem Al Masabi says $1.5bn swoop fits multiple strategic needs
Slow tanker and S&P market? How about no tanker S&P market Brokers report no sale-and-purchase deals last week as high rates and asset values persist
Avance Gas slashes share par value to reward investors in Norwegian 'tax prison' CEO Oystein Kalleklev explains logic behind move rubber-stamped at shareholder meeting
Chinese giant works on $1bn sale of boxship and car carrier fleets Owner wants to focus on tankers, bulkers and gas
By George: Economou blitzes Capital Link with views on nukes, wars and investment bankers He's a tech guy in a T-shirt, but the tycoon's thoughts tend to return to shipping
BP ships first Dangote jet fuel cargo to Europe on Greek MR tanker Chios Navigation's Doric Breeze due in Rotterdam this month in groundbreaking shipment
More to come: Okeanis saving millions per year after tanker lease refinancings Analysts expect handy savings from suezmax renegotiation soon
Fast-growing Oil Brokerage set to plant flag in Athens after Posidonia debut Brokerage will open shop in Greece this year
Under-invested handysize tanker sector heading for 'major supply crunch', warns Gibsons UK broker says ageing fleet is becoming a problem for major charterers
Methanol tops new fuelling choice table for May Figures for alternative fuelled vessel orders show 55% rise on first five months of 2023
Nigerian ports shut down in open-ended national strike action Major unions unite in protest over level of minimum wage
Bulker owners foresee 'severely undersupplied' market in near future Smaller vessels may step into the breach where capesize tonnage runs short, one shipowner believes
Moller-Maersk team advances new design of ammonia-fuelled container ship Approval in principle granted by ABS and LR for Maersk Mc-Kinney Moller Center-led project
John Banaszkiewicz's FIS snaps up new Greek bulker broker GR8 Chartering Freight and commodities giant takes over Athens shop founded last year by former Arrow and Lightship staffers
BSM brings in V.Group ship management boss Bjoern Sprotte for sustainability drive New recruit will report to CEO Ian Beveridge on development of ESG strategy
Zero margin for error: head of London Greeks calls for 'safe' decarbonisation steps Harry Fafalios insists the IMO should remain shipping's sole arbiter and doubts the EU can regulate the industry
Green shipping fuel projects at risk as shipowners take stock Transport & Environment study finds Spain is centre of proposed green shipping fuel projects while Greece has none
Grieg Group sells Norway's biggest ship agency operation to Inchcape Shipping Services Norwegian shipowner hives off company operating domestic terminals
Greece's Kourtesis brothers boost LPG bet with more newbuildings and secondhand buys Family company Sea Hawk signs second contract with Japanese shipyard and acquires pair of secondhand vessels
Ioannis Alafouzos: 'We have not seen any alternative fuel that is either available or very promising' Major Greek owner reflects on his thinking over ordering modern but conventionally fuelled tankers
Stena Sonangol pool confirms new suezmax partnership with Hammonia Reederei German owner's Aura M joins expanding Swedish-Angolan tanker operation
Alexander Hansson splashes $1.4m on Nordic American Tanker shares Move tightens family's grip on suezmax owner run by director's father
HD KSOE shows off new ammonia scrubber for next-generation vessels Big reveal of new 'carbon zero' technology for ammonia-fuelled vessels
Laurent Cadji-led Union Maritime plots investment in Bar Technologies WindWings will be deployed on 34 newbuildings as UK shipowner in talks to acquire significant equity in compatriot company
Precious Shipping places first newbuilding order in a decade Thai bulker owner has booked four ultramax vessels
Braemar grows with lead decarbonisation 'dynamo' and opens new Seoul office Brokerage expands into South Korea as it snaps up Joey Ng from Fortescue
U-Ming looks to enter LNG and offshore wind sectors as it plots 100-ship fleet Taiwanese shipowner currently owns 72 ships
Seafarers kidnapped from cargo ship in West Africa pirate hotspot, says security firm Incident happened off Equatorial Guinea, scene of another kidnapping in January
Navig8 tanker fleet and pool business taken over by Adnoc L&S in $1.5bn swoop Transaction is a dealmaker's dream as confirmation comes as shipping gathers in Greece for Posidonia
UMAS and UCL Energy Institute chart independent courses University College London shipping research team to focus on academics while UMAS concentrates on commercial consultancy
Nikolas Pateras interview: Over-optimism, magic wands and how he is looking to set an example for rivals Founder of the world's largest independent feeder ship fleet urges major liner companies to start removing older tonnage
Posidonia in pictures: Nikolas Martinos raises a glass to 'strong shipping markets' as parties spring to life As Posidonia kicks offf with owners feelling bullish and hunting opportunity
'I will probably have to clone myself': Gigantic Posidonia is bursting at the seams Athens and Piraeus are being swamped with visitors for record-breaking Greek shipping event
Indonesia's Andhika Lines in rare scrap sale as panamax bulker offloaded Markets continue to lack sales candidates as strong trading conditions make owners reluctant to sell
FMC breaks down questions on new detention, demurrage rule While the FMC's revision to the detention and demurrage rule went into effect last week, the industry is left with a lot of questions. The commission provided us answers in this exclusive Q&A.
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