McAllister receives new Low Emission Class tractor tug On the heels of its 160th anniversary this year, New York headquartered McAllister Towing received the M/V Grace McAllister tugboat from Maine shipyard, Washburn & Doughty. The tug is equipped with 3516E
Heddle Shipyards rebrands as Ontario Shipyards Canada's Heddle Shipyards, which operates three shipyards on the Canadian side of the Great Lakes, has rebranded. On January 1, it became Ontario Shipyards, saying that the name change has been made
Houthis put on warning: Now what? Yesterday saw growing international concern over the situation in the Red Sea as Houthi attacks on merchant ships caused more vessels to avoid the area and sent ocean freight rates soaring. While
AWO and Vane Brothers Rick Iuliucci to keynote TTB 2024 Capt. Rick Iuliucci, vice president of Baltimore, Md., based Vane Brothers Company, and American Waterways Operators (AWO) Chairman of the Board and Chairman of the AWO Sustainability Task Force, will keynote Marine
Equinor and BP announce a "reset" of Empire Wind 2 Back in November 2023, the New York State Public Service Commission denied petitions submitted by Empire Offshore Wind, Beacon Wind, Sunrise Wind and the Alliance for Clean Energy New York, Inc. (ACENY)
Seabourn adds Starlink to the champagne and caviar SpaceX continues to add satellites to its Starlink galaxy and maritime customers of all kinds for the low earth orbit (LEO) satcom technology. These include Carnival Corporation's ultra luxury cruise and expedition
Standing out in a sea of maritime events As 2023 neared its close, Marine Log finished up its conference calendar by drawing a record attendance for its long running FERRIES event with over 250 attendees-60 of them ferry operators. While
Recent workboat deliveries have enhanced fuel efficiencies in mind Coming off the heels of the International Workboat Show last month, one thing is certain: an emphasis on green operations was all over the showroom floor. Workboats, including patrol and pilot boats-the
ECSA names its first female president The European Community Shipowners Association (ECSA) has appointed its first female president. Karin Orsel stepped into the role for a two-year term on January 1, succeeding Philippos Philis on the conclusion of
CMA CGM to reshuffle its services connecting East Med, Malta & Libya Introducing enhanced strategies for the Intramed market, the CMA CGM - Short Sea Lines Division is excited to reveal the reshuffling of their TULYB and GTL services, effective from WEEK 2&3, covering services between TURKEY | GREECE | CYPRUS | LEBANON | MALTA | LIBYA. The revamped TULYB configuration is tailored to cater to the North Turkey - Egypt - Libya markets, ensuring swift and direct conne
BIMCO appoints new deputy secretary general Stinne Taiger Ivø, who currently serves as BIMCO's director of Contracts and Support, is set to assume the role of deputy secretary general at BIMCO starting 1 January 2024. Ivø, who joined BIMCO in early 2022 to lead the Contracts & Support department, oversees the development of contracts and clauses for the shipping industry in collaboration with industry representatives. Additionally, the Sup
Charter rates for large boxships jump in response to Red Sea diversions In response to the shortage of ships resulting from Red Sea diversions, tonnage providers have jacked up charter rates, particularly for larger vessels that are the workhorses of long-haul routes. As of 21 December 2023, Clarksons' Containership Timecharter Rate Index stood at 67 points, down 32% from the beginning of the year, but 18% above levels in 2019, the year before the Covid-19 pandemic.
Wisdom Marine ship stable off Alaska after suspected lithium-ion battery fire Nearly a week after a fire in its cargo hold, a general cargo ship owned by Taiwan's Wisdom Marine remains anchored in Broad Bay, near Alaska's Dutch Harbor, said the US Coast Guard on 2 January. Around 4.40 am (local time) on 28 December 2023, the crew on the 2012-built 13,663 dwt Genius Star XI alerted the US Coast Guard to fire in the cargo hold. At the time, Genius Star XI was 225 miles south
Carriers sought to up market share despite challenging 2023 The year 2023 saw a race involving mainline operators' market positions, according to Alphaliner. Mediterranean Shipping Company overtook Maersk as the world's largest container carrier in January 2022 and the gap between the two has widened by 1.12 million TEU over the past year. MSC now operates 5.61 million TEU of vessels and has consolidated its pole position with its massive orderbook of 122
EU ETS boost from Red Sea conflict Carbon trading in the maritime sector was launched on 1 January, but the effects of the EU Emissions Trading System (EU ETS) have been amplified by the critical nature of the Red Sea attacks. Last month's missile and drone attacks on vessels transiting the narrow Bab al-Mandeb straits, where the Red Sea meets the Gulf of Aden and the Indian Ocean, have forced many vessels to divert onto the much
Maersk Broker changes brand after 110 years Maersk Broker, the global shipbroking arm of A.P. Moller-Maersk, has successfully completed a management and employee buyout from the Mc-Kinney Møller family, its longstanding private owners. The rebranding announcement, disclosed by Maersk Broker on 29 December 2023, marks a significant shift in ownership for the subsidiary established in 1914. "The owners and the Board of Directors have for som
AD Ports Group boosts financial figures in 2023 Over the first nine months of 2023, AD Ports Group experienced a remarkable 116% YoY revenue increase reaching US$2.2 billion with EBITDA growing by 30% YoY to nearly US$590 million and net profit rising by 14% YoY to approximately US$290 million. The year also witnessed significant financial strides as AD Ports Group invested in future growth, securing a US$2 billion corporate facility with a sy
Harald Solberg steps down as chief executive of Norwegian Shipowners' Association Harald Solberg has decided to step down as chief executive of the Norwegian Shipowners' Association. Solberg will leave the organisation founded in 1909 which counts around 160 members after six years at the helm to take over The Federation of Norwegian Industries. The association's board, led by Synnve Seglem, the deputy CEO of Knutsen OAS ...
European shipowners elect first female president Karin Orsel has been named the first female president of European Community Shipowners' Associations (ECSA). Orsel started her two-year term on January 1, 2024. She succeeds Philippos Philis, who has held the position since January 2022. At the same time, Mikki Koskinen joined ECSA as the new vice president. Orsel became a shipowner and maritime ...
Vitol consolidates shipping activities into Singaporean company Switzerland-based commodity trading giant Vitol has consolidated all its shipping activities into a Singapore-based company. The company is named Vitol International Shipping and will be led by Kit Kernon, Vitol's head of shipping. Vitol International Shipping will be the new name for Mansel which is Vitol's Singapore-based shipping company. There will be no change to ...
Seacoast Shipping buys MPP vessel for $6m India's Seacoast Shipping Services has purchased a 10,300-dwt multipurpose cargo vessel for $6.1m. The company bought the 20-year-old vessel named , built by Japan's Higaki Zosen Koura. The acquired ship is currently located at Qatar Port where it is undergoing inspection and necessary procedure for a flag change and the process is anticipated to be ...
Researchers devise new method for autonomous ship path-following performance Researchers from the Korea Maritime & Ocean University have developed a new method for the path-following performance of autonomous ships. In a new study, researchers investigated the path-following performance of maritime autonomous surface ships (MASS) using a free-running computational fluid dynamics model. Their findings can help ensure safer autonomous navigation with reduced propulsion powe
Avenir agrees time charters for LNG bunker tandem Small-scale liquified natural gas player Avenir LNG Limited has executed new time charter agreements for two of its LNG bunker vessels. Avenir's affiliate Future Horizon - a joint venture between Avenir and MISC - signed a new two-year time charter agreement with Petronas trading arm PETCO Trading Labuan Company for the 7,500-cu m Avenir Advantage. ...
Grieg takes majority stake in Danish lifecycle assessment firm ReFlow Norway's Grieg Green, the ship recycling expert of Grieg Maritime Group, has picked up a majority stake in Danish lifecycle emissions analysis specialist ReFlow. ReFlow has developed a digital platform that allows businesses in the maritime value chain to document products' carbon footprint and "make greener and data-driven decisions", from raw material and equipment procurement ...
Kristian Gerhard Jebsen picks new chief executive Shipping group Kristian Gerhard Jebsen Skipsrederi (KGJS) has made a change to its leadership by announcing Ørjan Lunde as its new chief executive officer. Lunde took over the CEO role on January 1 from Geir Mjelde who has been the head of KGJS since June 2019. Mjelde will remain with the company in a transitional ...
Equinor, BP cancel Empire Wind 2 power supply deal Equinor and BP have opted to terminate a deal to sell power to New York state from their proposed Empire Wind 2 offshore wind farm due to inflation, interest rates, and supply chain disruptions. Equinor said that the two partners signed an agreement with the New York State Energy Research and Development Authority (NYSERDA) to ...
Spot box rates rocket amid Red Sea shipping crisis Drewry has published its keenly awaited first box spot rate details of the year, with the Red Sea shipping crisis sending rates rocketing. The UK consultancy skipped a week during the festive period, so today marks the first publication of the World Container Index since December 21, a period of time that has seen a ...
TechnipFMC lands new contract in Brazil worth more than $1bn Offshore contracting giant TechnipFMC has been awarded work by Petrobras on the Mero 3 project in Brazil's pre-salt field worth more than $1bn. The New York-listed firm will provide design, engineering, manufacture, and installation of subsea equipment, including manifolds, flexible and rigid pipes, umbilicals, power distribution, as well as life of field services for the ...
Dyna-Mac acquires Exterran Offshore Singapore-based fabricator Dyna-Mac has penned a share purchase agreement to acquire all the total issued and paid-up share capital in Exterran Offshore for $8.25m. The move will see Dyna-Mac secure access to Exterran Offshore's yard facilities of about 4.5 hectares along Gul Road, which will provide additional fabrication capacity for its current and future projects. ...
Bahri, Norden and the World Economic Forum latest names to agree to speak at Geneva Dry The roster of speakers for the inaugural Geneva Dry continues to make headlines for the calibre of names agreeing to take to the stage. Designed to be the annual global summit for the dry bulk shipping community, the event now boasts an extraordinary mix of shipowners, trading companies, miners and tech providers, all due to ...
Military action against land-based targets in Yemen moves a step closer A coalition is moving closer to taking military action against land-based targets in Yemen after more than 20 merchant ships have been targeted in recent weeks in the waters of the southern Red Sea. Houthi strikes via drones and missiles at merchant shipping, backed by Iranian firepower and intelligence, in the wake of Israel's war ...
The shipping news you might have missed over the past fortnight December 18 was the last issue of Daily Splash, our free newsletter. In the intervening 17 days, the Splash editorial team has been updating the site regularly with the shipping news agenda showing no signs of slowing down during the festive season. Key maritime developments you might have missed over the past couple of weeks ...
New marine insurance firm launches in London Tom Fulford-Smith and Charles D'Alton, the founders of Latitude Brokers, have created a new shipping insurance entity called Ai Marine Risk, having sold their old company to Filhet-Allard Maritime three years ago. BP Marsh, a London-based venture capital investor, has acquired a 30% shareholding in Ai Marine Risk. Ai Marine Risk is a London-based managing ...
Just 10 sites worldwide have methanol bunkering facilities For all the clamour surrounding methanol as shipping's future fuel, there remains very limited sites worldwide with available bunkering for the in vogue fuel. New research issued this week from Clarksons Research shows there are just 10 sites worldwide offering methanol bunkering, with another 11 under development. By contrast, for LNG, the other leading alternative ...
Golden Ocean makes Lars-Christian Svensen permanent CEO Golden Ocean Group has made Lars-Christian Svensen permanent chief executive after he stepped up from the chief commercial officer role in June last year to become interim head of the John Fredriksen-backed dry bulk player. "The board is delighted to have appointed Lars-Christian Svensen, who has demonstrated his abilities serving as interim CEO. We are ...
Avance Gas banks $27m on sale of ageing VLGC Oslo-listed very large gas carrier (VLGC) specialist Avance Gas has offloaded its 2008-built Venus Glory for $66m in a deal that is expected to generate a gain of about $27m once the ship changes hands. The Øystein Kalleklev-led owner will deliver the Daewoo-built 83,700 cu m ship to an unnamed buyer in February or March ...
COSCO signs for six tanker newbuilds COSCO Shipping Energy Transportation (CSET) has placed an order for the construction of six tankers spread between two shipbuilding units of Cosco Shipping Heavy Industry. The listed oil and gas shipping arm of COSCO Shipping Group has tapped Yangzhou COSCO Shipping Heavy Industry to build three aframaxes for about $289m. All three 114,200 dwt ships ...
Louis Dreyfus Armateurs selects shipyard for wind-assisted roros backed by Airbus charter French family-owned shipowner Louis Dreyfus Armateurs (LDA) has selected China's Wuchang Shipbuilding to build three roro vessels which will serve Airbus, the world's biggest planemaker as part of its renewed chartered fleet. Under the deal, announced last October, LDA is to build, own and operate three modern, low-emission sips, supported by wind-assisted propulsion. The ships ...
Valaris scores $519m drillship contract with Petrobras Offshore driller Valaris has secured a long-term contract from Petrobras for its drillship Valaris DS-4 to work on the upcoming Buzios program offshore Brazil. The New York-listed firm has fixed the 2010-built floater for 1,064 days in a deal worth around $519m, including mobilisation fees and additional services. The contract should start late in the ...
DOF wins MPSV contract extension Norwegian offshore vessel owner DOF has bagged a contract extension from Prime Energy Resources Development for the 2012-built MPSV Skandi Hawk. "This is a substantial contract extension with an estimated value of over $60m. It builds on the successful partnership between our team in APAC with Prime Energy and the Malampaya field since production commenced ...
Fred Olsen Windcarrier seals Polish offshore wind deal Norwegian offshore wind installation player Fred Olsen Windcarrier has been awarded a contract with Ørsted and PGE for the Baltica 2 project in Poland. The company will carry out the installation of wind turbines utilising one of its special purpose-built jackup vessels during 2027. The Baltica 2 offshore wind farm is one of the largest ...
Ocean Installer secures work offshore Angola Ocean Installer has been revealed as a consortium partner with Oceaneering in a significant contract from TotalEnergies Angola and its partners in Block 17 to carry out the transportation and installation work for the life extension project of the Girassol FPSO, which has been producing since 2001 to 2031. Ocean Installer will utilise its in-house ...
Houthis answer US-led coalition threat with first launch of drone vessel in Red Sea Less than a day after a US-led coalition of 13 nations issued a threat to the Houthis, the militants launched...
Red Sea activity down nearly 20% after containership exodus Most shipping through the Red Sea continues despite the Houthi attacks, although an increase in passes around the Cape of...
IMO's upper targets should be considered as 'absolute minimum' Shipping needs to cut emissions by 26% in seven years to hit its 2030 target, as the industry's emissions have...
Liberia-flagged bulk carrier boarded off Somalia - Ambrey UKMTO reports five to six armed persons have boarded a merchant vessel southeast of Eyl, Somalia, which Ambrey identified as...
Falling oil prices kept Greek shipowners in lucrative Russian tanker trades Tankers from the dark fleet keep a key role in facilitating oil exports, exceeding 40% of ships tracked for a...
P&I clubs taking soft stance in renewal round 'Compared with the previous three renewals, the mood is more conciliatory, which is helpful. It is still not a full-blown...
South Korea asks shipping companies to steer clear of Red Sea Lloyd's List Intelligence data shows that none of HMM's Asia-Europe boxships are present in or heading to the Red Sea...
Essberger plans future fleet in centenary year Dr Eberhart von Rantzau, joint managing partner at family-owned shipowner John T Essberger, says the company is studying a fleet...
Maersk Red Sea halt prompts more Cape diversions Many more originally Suez Canal-bound ships are now marked 'to be announced', with 54 such vessels still to confirm their...
Daily Briefing Dark fleet operator Radiating World Shipping Services moves to evade UK sanctions | Reports of Houthi missiles fired on Malta-flagged boxship...
3PL Kenco expands warehousing reach in key US markets The acquisition of The Shippers Group gives Kenco greater distribution capacity and underscores resilient demand for space and integrated logistics services despite a weak freight market.
US chassis demand tepid amid ample units, additional manufacturers Chassis lessors must work quickly to be prepared to unstack units when the international intermodal market rebounds.
Rerouted Asia-Europe voyages to cause space, equipment shortages Difficulties in finding vessel capacity and empty containers as ship voyages are extended will join rising rate levels on the growing list of supply chain issues faced by shippers.
Ocean carriers playing catch up in reducing risk of lithium-ion fires on ships The shipping industry, while acknowledging the batteries are here to stay and can't be banned as cargo, is lagging behind in coming to terms with risks that remain poorly understood.
Avenir LNG locks in multi-year deals with Petronas and New Fortress Energy units Another pair of specialist LNG carriers finds a home as shortfall looms
Pirates strike again? Armed gang board bulk carrier off Somalia, says security specialist Vessel targeted in area linked to a resurgence of piracy in recent weeks
Dry stocks 'defy gravity' to rise on counter-seasonal surge in capesize rates Clarksons analysts see iron-ore market supportive of atypical January movement
Rewards trump risk for CMA CGM as liner giant continues to run Red Sea gauntlet Despite attack, French carrier is among dwindling lines willing to sail through the troubled region
Avenir LNG locks in multi-year deals for two ships with Petronas arm Another pair of specialist LNG carriers finds a home as shortfall looms
Clarksons hails 'hugely significant' year for shipping industry decarbonisation Green Technology Tracker details newbuilding orders involving alternative fuel capable vessels in 2023
Color Line switches to biofuels to slash emissions by 85% Ropax operator switches two vessels to locally sourced low-emission fuels
Crime gangs face clampdown at European ports as cocaine seizures surge EU decision-making body vows action after smugglers target terminals throughout the bloc
Hunt on for new Norwegian shipping chief after Harald Solberg steps down Outgoing CEO will take over The Federation of Norwegian Industries
What can history tell us about how George Economou's flutter with Genco will evolve? This week's Streetwise examines another move on a listed bulker company by Greek shipowner George Economou
ABN Amro hires Danske Bank analyst to drive Nordic shipping services Dutch bank recruits former equity analyst and shipbroker
Suez Canal LNG shipments halved in December amid Red Sea attacks Sector's 2023 market dynamics unfold as biggest importers and exporters of year emerge
Norwegian owner KGJS names new chief executive after Geir Mjelde steps down New CEO is an internal hire with experience at Odfjell Drilling and the bank Nordea
Tanker rates soar on 'red hot' Red Sea routes as owners embrace danger zone Traffic holds up across the sector as owners fix vessels on case-by-case basis, says Braemar
Norwegian owner KGJS names new CEO after Geir Mjelde steps down New boss is an internal hire with experience at Odfjell Drilling and Nordea
Grieg snaps up software house stake to ramp up life-cycle emissions offering Move on start-up gives Norwegian company a broader cradle-to-grave sustainability offering
Tanker major KOTC plotting half-billion dollar newbuilding spree Owner is looking to order VLCC and gas carrier series
'Perfect storm': Fearnley Securities hikes Klaveness Combination Carriers target price Estimates raised on the back of robust fundamentals in product and dry markets
Norwegian owner KGJS hires new chief executive after Geir Mjelde steps down New CEO is an internal hire with experience at Odfjell Drilling and the bank Nordea
MSC container ship cleared of blame in collision with trawler Report finds fishing vessel was not maintaining a proper lookout and failed to heed warning signals
Clarksons hails 'hugely significant' year for 'shipping industry decarbonisation' Green Technology Tracker details newbuilding orders involving alternative fuel capable vessels in 2023
Grieg snaps up software house stake in bid to ramp up lifecycle emissions offering Move on software company Reflow gives Norwegian company a broader cradle-to-grave sustainability offering
Norwegian shipowner KGJS hires new chief exec New CEO is an internal hire
MSC container ship cleared of blame in collision with fishing vessel Report finds trawler was not maintaining a proper lookout and failed to heed warning signals
Shipping 'blind spots' revealed by global tracking study Satellite-based imagery highlights scale of activity on the world's oceans
'Bring all pressure to bear': Houthis put on notice as Red Sea violence escalates A chorus of international condemnation seems to presage more robust action against rebel group
NTSB report clears MSC container ship of blame in fishing vessel collision Report finds trawler was not maintaining a proper lookout and failed to heed warning signals
$1bn solution: How AI is helping Japanese giant MOL fight risk of electric vehicle fires Prominent shipowner fortifies fire-prevention measures by tapping into AI to create solutions
Tanker newbuilding orders pile up as shipowners bank on long-term boom Mid-size crude carriers and product tankers lead the way as Russian reshuffle and new refineries entice owners
Seatrium bags first contract of 2024 with repeat Shell FPU deal Latest project is an enhanced version of two earlier FPUs built for oil major by Singapore yard group
West Coast shipping rates surge as Red Sea fallout goes global The combination of Red Sea detours and Panama Canal restrictions is having a knock-on effect: higher Asia-West Coast rates.
FedEx pilots face pay cuts, buyouts as contract talks resume FedEx Express wants to compensate for a surplus of pilots by lowering guaranteed pay and offering severance packages once a new labor contract is reached. Meanwhile, mechanics are agitating to unionize.
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