New DIA report details effects of Houthi attacks on international trade The U.S. Defense Intelligence Agency (DIA) has released a new report detailing how Houthi maritime attacks have affected international trade and are supported by an expansion of military capabilities with help from
DOF Group in $1.1 billion agreement to acquire (most of) Maersk Supply Goodbye Maersk Supply, hello Maersk Offshore Wind ... and a bigger DOF Group fleet. Maersk Supply Service, which is a subsidiary of A.P. Moller Holding, announced on Tuesday that it is forming
Kongsberg introduces new underwater mountable thruster with permanent magnet motor Kongsberg Maritime has added a new size of underwater mountable thruster, with a 3.7-meter propeller and 4.2 MW power output , to its range. Suited to a range of vessels including drill
HJ Shipbuilding & Construction to install 34 cranes at Busan New Port HJ Shipbuilding & Construction (HJSC) announced that its construction division won the contract for the Busan New Port West Container Terminal Phase 2-6 Transfer Crane Installation Project. This project follows Busan New Port Pier 7 (Phase 2-5), which became South Korea's first fully automated terminal upon its opening in April. The multinational constructor was also involved in Phase 2-5 of the
CMA CGM implements peak season surcharge from South America East Coast to Europe Marseille-based box line CMA CGM announced a Peak Season Surcharge (PSS) from 1 August to 31 December 2024 (loading date). The surcharge applies to dry cargo (standard and special equipment) originating from Brazil (excluding Fortaleza, Manaus and Vila do Conde), Argentina, Uruguay, and Paraguay, and destined for North Europe, Scandinavia, the Baltic, East Mediterranean, West Mediterranean, and N
Bearing AI expands AI-powered deployment planner to tramp shipping Following the success of its Deployment Planner for liner shipping companies, Bearing AI, a provider of cutting-edge operational solutions, has introduced a set of powerful new features tailored specifically for tramp shipping companies. Unlike liner operators, tramp shipping companies handle one-time contracts between ports of loading and discharge, complicating the optimization of emissions per
Duvenbeck expands in Bavaria with Erich Haslbeck acquisition The logistics company Duvenbeck is enhancing its presence in Bavaria by acquiring the operations of Erich Haslbeck, a freight forwarding company headquartered in Niederviehbach near Dingolfing, Germany, effective 1 July 2024. Founded in 1971, the Haslbeck family business specializes in factory traffic for the Bavarian automobile industry and provides freight forwarding and logistics services for
Chinese ports handle 133 million TEUs in 2024 so far From January to May 2024, Chinese ports handled a container throughput of 132.8 million TEUs, marking an 8.8% increase year-on-year. During the same period, Shanghai Port's container throughput reached 20.9 million TEUs, reflecting an 8.6% year-on-year rise, while Ningbo Zhoushan Port handled 15.8 million TEUs, a 6.5% year-on-year increase. Beibu Gulf experienced the highest increase in container
MSC's market share now at 20% as fleet nears 6 million TEUs MSC now has a market share of 20%, as its aggressive newbuilding drive and ship purchases placed the largest liner operator's fleet at just under 6 million TEUs. Alphaliner's report stated that MSC's fleet now stands at 837 ships of 5.98 million TEUs, putting the Swiss-Italian operator "one big ship delivery" away from hitting the 6 million TEU mark. These include 539 owned ships of nearly 3 mill
Port of Virginia enhances access to Indian Sub with last-out vessel call Exporters using the Port of Virginia now have a new route to access the expanding Indian Subcontinent market through a standalone vessel service, with Virginia as its final port of call on the United States East Coast. The service, named the WIN (West India North America) service and operated by Ocean Network Express (ONE), recently commenced operations with its inaugural call at the Port of Virg
SLS Bucharest Intermodal Terminal selects Navis Cloud TOS and DSP for new intermodal facility SLS Bucharest Intermodal Terminal, a logistics and transport operator under FAN Courier ownership, has recently opened Romania's first intermodal terminal within an industrial park. This new initiative is a key component of the company's medium and long-term growth strategy, which was announced in 2020 following its integration into the FAN Courier portfolio. The investment, valued at nearly US$2
Houthi failures lead to VHF harassment Houthi attacks on shipping have been widespread and deadly but not always accurate, according to security firm Dryad Global, which reports a new tactic by the Yemeni group that involves harassing crew via VHF radio. According to Dryad Global, the Antigua & Barbuda flagged container ship Rotterdam Trader was threatened via VHF while transiting the Gulf of Aden, 75 nautical miles southwest of Aden
C.H. Robinson expands into Southeast Asia with new office in Philippines Global logistics provider C.H. Robinson is expanding its footprint in the Asia-Pacific region by opening a new office in the Philippines. This strategic move aims to enhance support for the country's burgeoning logistics and transportation sectors, aligning with the company's commitment to delivering customized services in key global markets. The Philippines, known for its robust economy and proj
CEVA Logistics accelerates growth with integration of Bolloré Logistics CMA CGM's subsidiary CEVA Logistics announced a new organizational structure designed to enhance customer access to its comprehensive global logistics services. This includes capabilities across air, ocean, ground, and rail transport, as well as contract logistics, finished vehicle logistics, project logistics, and customs solutions. Following the recent acquisition of Bolloré Logistics by CMA CG
More rate increases expected soon, though signs congestion is easing Ex-Asia ocean rates were stable last week, but prices already at highs for the year are expected to climb further as we enter the typical peak season months and congestion - though less severe than in recent weeks - remains an issue at some major hubs, with several carriers announcing significant July Peak Season Surcharge increases or GRIs. Scarce container space from China to India has some imp
Maersk adjusts Far East peak season surcharges Maersk has decided to adjust the Peak Season Surcharge (PSS) for Indonesia, Malaysia, Singapore, Vietnam, Cambodia, Thailand, Myanmar (Burma) and Laos to Congo, effective from 3 July. The tariff levels are as follows: Origin Destination Rate basis Container Currency Rate Indonesia / Malaysia/ Singapore / Vietnam/ Cambodia / Thailand / Myanmar(Burma) / Laos Congo, Dem. Rep. of Per container ALL_20
Onne Multipurpose Terminal handles largest boxship in Eastern Nigeria Onne Multipurpose Terminal (OMT), operated by International Container Terminal Services, Inc. (ICTSI) in Nigeria, recently handled Kota Cempaka, the largest container vessel in Eastern Nigeria. Operated by Pacific International Lines (PIL), the 300-meter vessel with a capacity of 6,660 TEUs loaded and unloaded a total of 2,000 TEUs during its stop at OMT. PIL intends to regularly deploy vessels o
MSC announces East-West service network adjustments Swiss/Italian container line MSC will adjust its new standalone services, Swan and Britannia aiming to enhance its network. Swan service will become Swan-Sentosa to provide a new corridor for Eastbound cargoes to and from Southeast Asia. The new pendulum service will include additional westbound calls in Qingdao and Busan, while there will be no change in its current Northwest Continent rotations
HHLA launches first hydrogen-powered port logistics test field in Hamburg Hamburger Hafen und Logistik AG (HHLA) has inaugurated the first test field for hydrogen-powered port logistics and the corresponding hydrogen refuelling station at the Port of Hamburg in Germany. Located at the Container Terminal Tollerort (CTT), this test field represents a significant milestone in the journey toward decarbonizing logistics. In collaboration with partner companies from the Clea
6 Reasons Why It's Worth Hiring A Personal Injury Attorney in Asheville It's widely known in the legal field that insurance companies want to settle your claim for as little money as possible or even deny your claims to save the company money. Reports from the American Association for Justice show that initial settlement offers are usually 40% lower than the final settlement achieved with legal representation. Injured people often run into complications when dealing
Vitol grows LNG bunker fleet with time charter and new orders Switzerland-based commodity trading giant Vitol has expanded its LNG bunker fleet via a time charter deal with Avenir LNG and an order for two vessels at the CIMC Sinopacific Offshore & Engineering shipyard in China. The time charter with small-scale liquified natural gas player Avenir LNG was for the company's first 20,000 cu m LNG bunker ...
HMM fires back in legal battle with Samsung Electronics America HMM, South Korea's flagship carrier, has gone on the attack in its bid to rebut overcharging claims levelled by Samsung Electronics America. Having lodged cases with the Federal Maritime Commission (FMC) in Washington DC against COSCO, OOCL, SM Line and ZIM, Samsung Electronics America went after HMM last month, claiming the carrier imposed around 96,000 ...
Transka Tankers books MR1 newbuilds at Wuhu Turkey's Transka Tankers has set out to expand its fleet with MR1 newbuilds in China. The shipping unit of Akbasoglu Holdings has signed for four 40,800 dwt product carriers at Wuhu Shipyard for delivery in 2027. No price has been divulged for the SDARI-designed 180-m-long newbuilds which meet the EEDI Phase 3 requirements. Transka's fleet ...
Fredriksen's SFL splurges $1bn on containership newbuilds John Fredriksen's SFL Corporation has joined the rush for containership newbuilds with an order worth around $1bn. The New York-listed diversified shipowner has confirmed a deal for five 16,800 teu vessels at China's New Times Shipbuilding with deliveries expected in 2028. The newbuilds will be LNG dual-fuel and cost about $200m apiece. Once delivered, the ...
Guinea bauxite exports to China smash records helping fuel hot cape market Capesize rates cracking past the $30,000 a day mark in recent days are in no small part down to the record amounts of bauxite heading from West Africa to China. Bauxite is primarily used as the main source of aluminium. It is the only minor bulk that tends to be shipped on capesizes. The US ...
US gives all clear to ninth offshore wind project The US Department of the Interior has approved the Atlantic Shores South offshore wind energy project - the country's ninth commercial-scale offshore wind energy project approved under the current administration. With today's approval, the US has approved more than 13GW of clean energy from offshore wind energy projects, enough to power nearly five million homes. ...
N-Sea takes over compatriot survey vessel provider Geo Plus Dutch subsea services specialist N-Sea Group has acquired the Groningen-based survey vessel provider Geo Plus. Geo Plus operates a fleet of five highly specialised survey vessels, which are currently operating on long-term projects in Europe and the Middle East. The fuel-efficient vessels are capable of conducting all types of geophysical surveys and inspection activities. Currently, ...
SIRE 2.0 to go live on September 2 The Oil Companies International Marine Forum (OCIMF) has confirmed that its digitalised Ship Inspection Report Programme (SIRE 2.0) is scheduled to go live on September 2 and become the standard tanker inspection tool for the marine industry. The move to SIRE 2.0 will mark the end of the phased transition to the updated, enhanced and ...
Japanese press ahead with landmark hydrogen-powered tanker In Japan, a project to develop the world's first tanker powered by liquefied hydrogen is pressing ahead. ClassNK has issued an approval in principle (AiP) for a design concept of a small hydrogen-fuelled oil tanker with an electric propulsion system developed by domestic tanker owner Uyeno Transtech, Yanmar, and Mitsui E&S Shipbuilding. The ship was ...
Saverys moves ahead with Euronav rebrand to CMB.TECH One of the most famous names in European tanker circles is set to fade from view. Shareholders have approved plans to change the name of Euronav to CMB.TECH with the brand switch scheduled for October 1. The decision to change names comes after a protracted takeover saga between the Saverys family, who control CMB.TECH, and ...
Capacity repositioning to east-west trades sends India-Middle East rates soaring NVO sources who spoke with the Journal of Commerce noted that carriers active on the regional trade lane have pulled tonnage out of the short-haul market for redeployment to China-centric longer-distance services.
Loading worries drive early peak season frenzy on eastbound trans-Pacific Some shippers still raw from two years of pandemic disruption are willing to pay thousands of dollars more to ensure they secure slots and equipment on container ships, writes Journal of Commerce Executive Editor Mark Szakonyi.
CEVA integrating Bolloré, restructuring company to unlock product verticals The CMA CGM subsidiary is centralizing its organizational structure following a string of high-profile and expensive acquisitions, making use of its critical size in key product sectors.
Post-COVID market shocks challenge long-held container shipping truisms It was only when assets stopped circulating that ocean carrier profits took off, thanks to containers stranded on idle ships that lined up outside of congested ports during the worst of the pandemic disruption.
Angelicoussis suezmax tanker lifts first Senegal crude cargo for Shell Initial barrels produced last month at Woodside offshore project
Top Braemar bosses see pay drop as shareholders mount bigger rebellion against executive reward policy James Gundy and Tris Simmonds took home less as bonuses fell for 2023/2024, annual report shows
'Beginning of an upcycle': DOF signs $1.1bn deal for Maersk Supply after nine months of talks Combined company will sell vessels opportunistically
Fratelli Cosulich hails 'second-best year ever' despite profit plunge Drop of 42% in net profit follows two seemingly unbeatable years
'Champion of the little guy' challenges the established order in Wall Street standoff Divide was perhaps never clearer than at this year's Marine Money Week in New York
Swire Group eyes investment in newer ships after bulker sales Container ship and dry cargo group says 2023 was a year characterised by declining rates
DOF 'kills two birds with one stone' after striking $1.1bn Maersk Supply takeover Fearnley Offshore analyst Jesper Skjong says owner has pulled off a coup with acquisition of younger fleet
'Milestone': John Fredriksen's SFL confirms $1bn LNG boxship order backed by 10-year charters Boss Ole Hjertaker says deal shows commitment to cutting carbon footprint
Sanctions sting sees shadow fleet tankers swinging at anchor Cluster of blacklisted carriers gather off Baltic port of Ust-Luga as Russia trade weighs moves by regulators
Vitol orders two LNG bunker vessels at CIMC Sinopacific Offshore & Engineering Top bunker supplier makes first move into owning vessels supplying LNG as a marine fuel
Charity opens new mission to help seafarers affected by Red Sea diversions Maritime charity Stella Maris' new mission will provide pastoral care for bereaved crew members
Schulte Group branches into emissions management with launch of Ocean Opt German ship manager taps into demand for emissions tracking, reduction and compliance
Red Sea diversions pushing tankers into 'unfamiliar' places as demand jumps Deadweight demand for tankers is roughly three times higher than cargo growth, MSI said
Purus and Bluewater working on fleet of storage vessels for ammonia and hydrogen Partners want to be one-stop shop for clean energy distribution
Thanassis Laskaridis breaks into new area of product tanker market with five-ship newbuilding deal China's Penglai Jinglu has won multiple newbuilding contracts for its steadily expanding MR2 portfolio
AP Moller forms new wind shipping company after market upturn spurred Maersk Supply sale Maersk parent keeps its interest in renewables while offloading oil and gas-linked business
Start-up Folk Maritime eyes fleet expansion with Bahri ship management deal Red Sea feeder service brings in Saudi Arabian giant to help acquire more ships
Greeks in the frame for aframax tanker deal after Idan Ofer ruled out Did Greek buyers outbid Eastern Pacific on the Pusaka Java?
Dorian LPG upgraded to buy as DNB tips 'robust VLGC freight market to persist' DNB Markets raises target price to $52 from $48.10 per share
Container ship fleet hits 30m teu as deliveries and orders surge Peak of deliveries may have passed, but fears over 100 pending orders remain
Turkish delight as Bosphorus shipping scene steals limelight Record crowds gather at the 6th Bosphorus Ship Brokers Dinner
John Fredriksen-backed DOF Group buys Maersk Supply Service for $1.1bn AP Moller to hold 25% of combined Oslo-listed company
CSL Group wins Australian transshipment contract worth nearly $400m Canadian company will initially use existing vessel while purpose-built ship is under construction
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