Airbus ship heads for Mobile, powered by suction sails The decision by Airbus and Louis Dreyfus Armateurs (LDA) to install Norsepower rotorsails on their three next-generation newbuilds is just one part of the story on how the two are looking to
MSC containership struck by Houthi missile An MSC containership has become the latest vessel to be damaged in a Houthi attack. U.K. Maritime Trade Operations today issued a report at 1500 UTC on an incident 91 nautical miles
Ingalls completes acceptance trials of final Flight I LPD Huntington Ingalls Industries (NYSE: HII) reports that its Ingalls Shipbuilding division has successfully completed the acceptance trials of amphibious transport dock Richard M. McCool Jr. (LPD 29), the final Flight I LPD
CMA CGM applies PSS from Indian Sub, Middle East Gulf, Red Sea and Egypt to US CMA CGM has announced the implementation of a new Peak Season Surcharge (PSS) starting from 20 March, until further notice. This surcharge will apply to all types of cargo originating from the Indian Subcontinent, Middle East Gulf, Red Sea and Egypt to the US East Coast and US Gulf. The surcharge amount will be US$1,000 per unit. If you liked this post, please consider donating The post appeared
Port of Virginia opens wider channel for giga container ships Port of Virginia's wider shipping channel is now operational for accommodating the two-way passage of ultra-large container vessels (ULCV), resulting in a reduction of up to 15% in the time these vessels spend at berth. The widening of the channel is a component of the port's strategic infrastructure investment plan totalling US$1.4 billion, aimed at enhancing efficiency, accommodating larger car
Port of Long Beach unveils two new fireboat stations On 1 March 2024, officials commemorated the opening of two newly constructed fireboat stations at the Port of Long Beach. These stations mark a significant improvement in the Long Beach Fire Department's ability to respond to emergencies both on the water and on land, providing enhanced safety for ships, cargo, and waterfront personnel. Known as Fireboat Station 15 and Fireboat Station 20, these
What is a Parcel Locker in an Apartment Building? Parcel Locker in an apartment building - this is an automated system of mailboxes for receiving and sending mail, as well as various goods. This device is designed to provide convenience to residents and improve mail delivery efficiency. Typically, Parcel Locker is installed in public areas of an apartment building, for example, in entrances or garden areas. What is a Parcel Locker? As a rule, a
CMA CGM, Shanghai International Port Group extend Terminal Stevedoring Agreement French shipping company CMA CGM and the terminal operator Shanghai International Port Group (SIPG) jointly held a strategic Terminal Stevedoring Agreement (TSA) extension signing ceremony on 28 February in Shanghai, China. The cooperation between the two parties has yielded positive results over the recent years, according to the statement, and several achievements have been made in areas such as
Schedule reliability insights: CMA CGM climbs to the top Sea-Intelligence has released the 150th edition of the Global Liner Performance (GLP) report, featuring schedule reliability data up to and including January 2024. "Source: Sea-Intelligence.com, GLP Report, issue 150" Amidst the ongoing Red Sea crisis, global schedule reliability witnessed a decline, with a month-on-month drop of -5.1 percenta
Samskip and Cochin Shipyard begin zero-emission container vessel construction Samskip, a provider of global logistics solutions, and the market-leading shipyard Cochin Shipyard in India have commenced the construction phase of their next-generation zero-emission shortsea container vessel, the Samskip SeaShuttle. "When it comes to sustainability, we believe in transparency, setting goals and taking responsibility. Yesterday, at our event, we introduced our Sustainability Co
CMA CGM and Nike forge agreement for sustainable shipping solutions Nike, a global leader in the apparel and sportswear sector, has recently forged an agreement with French ocean carrier CMA CGM to purchase eco-friendly biofuel for a part of its maritime shipping needs. This strategic move signifies a significant step towards decarbonizing Nike's supply chain. Beginning 1 July 2023, until 31 May 2024, Nike plans to utilize sustainable biofuel for transporting 36%
Kalmar to deliver first electric mobile equipment fleet for ITC in Australia Cargotec-owned Kalmar has finalized a deal with Intermodal Terminal Company (ITC), an Australian operator, to provide six Kalmar Electric Reachstackers and two Kalmar Electric Empty Container Handlers. These machines will be deployed at ITC's upcoming Somerton Intermodal Terminal in Melbourne, Victoria, a multipurpose terminal currently under construction. This contract, which also encompasses a
HMM and Hellmann cooperate to reduce Scope 3 emissions HMM has collaborated with Hellmann Worldwide Logistics to manage Scope 3 emissions by implementing the Green Sailing Service, a low-carbon transportation solution aimed at reducing carbon emissions. This initiative empowers the decrease of carbon footprint and tackles Scope 3 emissions with efficiency. The methodology behind this service is guided by PwC Korea. "We are delighted to experience one
Contrasting period for container spot and contract markets - Way forward outlook The latest quote by the Drewry World Container Index (WCI) voiced the correction in spot prices after the massive 138% swing in 6 weeks witnessed between 15 December 2023 and 30 January 2024. The WCI registered a 5% loss for the week, and at US$3,493 ended at a six week low. But in February though, the index lost over 8% with the primary laggards being the China- Europe and China-Mediterranean tr
Container carriers face US$1.4 trillion decarbonisation bill US consultancy AlixPartners has said in its 2024 report that container shipping has very high carbon dioxide emissions, and the liner industry has to spend US$1.4 trillion to achieve carbon neutrality by 2050. Targeted investment and conversion to alternative-fuel propulsion systems will be inadequate to achieve the mandated 20% reduction by 2030, but net zero by 2050 remains within reach-barely-
ICTSI's Manila terminal rebrands International Container Terminal Services, Inc. (ICTSI)-owned Manila Harbor Center (MHC) has unveiled a new name, logo and website as part of a strategic rebranding initiative. MHC, the largest and busiest international bulk and breakbulk operations in the Philippines, has rebranded to Manila Multipurpose Terminal. ICTSI took ownership of the Manila Multipurpose Terminal in 2021. Under ICTSI's ma
CMA CGM implements new rates from Europe to Latin America and Carribean French shipping line CMA CGM has unveiled updated Freight All Kinds (FAK) rates, effective from 1 April 2024, from Europe to Latin America and the Caribbean. The following rates will be applicable for shipments from North Europe and the Mediterranean to destinations in the Caribbean, Central America, West Coast South America, and East Coast South America, except Mexico. Amounts in € (Euros) - Fro
CMA CGM moves to Augusta port in Sicily CMA CGM Group has announced it will move its activities from the Italian terminal in Catania, Sicily to the nearby port of Augusta, as the local Port Authority, covering Catania, Augusta and Pozallo, has decided to terminate container activity at the Catania terminal and relocate all activity for all container carriers to their terminal at Augusta. This transition will be effective at the end of
Capital Product Partners continues boxship sell-off US-listed Capital Product Partners has offloaded three more containerships as it works towards becoming an LNG carrier pure-play. The Evangelos Marinakis diversified owner is selling the 2015-built 9,300 teu Akadimos and the 2008-built 5,100 teu sister vessels Fos Express and Seattle Express. In November last year, Capital Product Partners announced plans to buy 11 LNG ...
Western Bulk appoints interim chief executive Norwegian dry bulk operator Western Bulk Chartering has appointed board member Ørjan Svanevik as interim chief executive officer. Svanevik, the former director and chief operating officer at John Fredriksen's Setankers Management, joined Western Bulk's board last August. He will keep his position as he takes over from Hans Aasn�s following the news of his stepping ...
World's largest floating solar project to become part of OranjeWind The Nautical Sunrise consortium partners are looking to create the world's largest offshore floating solar (OFS) power installation offshore the Netherlands. Research and development on the OFS systems and the components of the €8.4m ($9.1m) project, supported by €6.8m from the Horizon Europe programme, has already started. The project will enable the large-scale deployment and ...
Diana Shipping charters out ice-class panamax to Louis Dreyfus New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Louis Dreyfus Company Freight for one of its ice-class panamax bulkers. Louis Dreyfus hired the 2014-built, 77,525 dwt bulker. The gross charter rate is $13,900, minus a 5% commission paid to third parties, for a period of a minimum ...
New benchmark set with sale of Norwegian VLCC The sale of a Norwegian-flagged VLCC has set a new benchmark as tanker values continue to climb. The Korean-built, eight-year-old 299,998 dwt has been sold to undisclosed interests for $98.5m. The ship was owned by Norwegian heavyweights, Awilco and TRF. According to Clarksons Research, the firm price shows that values for semi-modern tonnage are up ...
Rubymar's sinking poses 'major environmental crisis' in the Red Sea The Red Sea shipping crisis has entered a new chapter with the sinking of the bulk carrier early on Saturday morning. The insurance situation regarding the Lebanese-owned, Greek-managed, Belize-registered ship remains unclear. The vessel has become the first constructive total loss since the Houthis from Yemen started their campaign against merchant shipping five months ago ...
Joint investigation points to identity of tug owner involved in Tobago oil spill In the hunt to find the owners of a tug and a barge responsible for one of the Caribbean's worst oil spills in recent years, a joint investigation carried out by Bellingcat and the Trinidad & Tobago Guardian has laid the finger of blame on a Panama-registered company called Melaj Offshore. According to Bellingcat, a ...
Record TPM opens as 'difficult' transpacific contract negotiations get underway The fortunes of the container market will become clearer this week as close to 4,000 delegates descend on Long Beach for the 24th edition of TPM, the sector's top annual event. The summit, which runs from Sunday to Wednesday, brings together lines and shippers to hammer out contracts and comes at a time where container ...
Trafigura inks debut VLCCs order One of the world's largest charterers Trafigura is addressing the market shortage of modern supertanker tonnage by signing up to build its first VLCCs. The Singapore-headquartered global commodities trader has contracted Jiangsu New Hantong Ship Heavy Industry in China for the construction of two 319,000 dwt crude carriers, delivering in July and September of 2026. ...
Secondhand ship prices and sales volumes scale heights Secondhand tanker and bulker prices are at highs not seen for more than a decade, with owners scrambling for all available tonnage, pushing secondhand prices close to newbuild levels. According to Clarksons Research, secondhand tanker prices are at a 15-year high, while secondhand bulk carrier prices are at close to the peak experienced in the ...
Marinakis books pricey LNG carriers Evangelos Marinakis' Capital Group has been revealed as the owner behind a high-priced order for four liquefied natural gas carriers at Hyundai Samho Heavy Industries. Korea Shipbuilding & Offshore Engineering (KSOE), a holding entity overseeing the shipyards of South Korea's conglomerate HD Hyundai, announced the deal with an undisclosed shipowner for 174,000 cu m units ...
Meadway Bulkers returns to Japan for more orders Greek owner and operator Meadway Bulkers has strengthened its shipbuilding programme at Japanese shipyards with two handysize bulk carriers at Namura. The George Dellaportas-led outfit has revealed a pair of 40,050 dwt units with delivery in the first quarter of 2026 for an undisclosed price, adding to another 40,000 dwt newbuild set to join the ...
Ray Car Carriers splurges $268m on pair of Korean newbuilds Ray Car Carriers has boosted its orderbook with two more newbuilds contracted in South Korea. The Abraham Rami Ungar-controlled owner has returned to Hyundai Mipo Dockyard in Ulsan for a 7,500 ceu pair, delivering by May 2028. The order worth about $268m follows four 7,700 ceu LNG capable units booked last year, with delivery due ...
Live Animal Export: An experimental double take as the Bahijah tries again Dr Lynn Simpson, a well-known former live export veterinarian, on the long journey ahead for thousands of animals heading from Australia to Israel via the west coast of Africa. This past weekend the Dareen rounded Yemen within missile range, then passed the Rubymar as she slid under the sea
Houthis unlikely to halt Red Sea attacks despite ceasefire, former US Secretary of Defense says 'Good reason to doubt the Houthis' word', former CIA director and US Secretary of Defense tells Journal of Commerce TPM...
MSC ship hit in latest Houthi attack Liberia-flagged, 2,169 teu containership MSC Sky II is the latest victim of Houthi attacks. Militants continue to target commercial ships in...
Capital Product sheds more boxships as it doubles down on gas shipping First four disposals expected to swell owner's cash kitty by about $81m
Yildirim: I told Jacques Saadé box lines must work together Metals, ports and shipping tycoon Robert Yildirim's 2011 rescue of CMA CGM paid off handsomely in the past two years...
Global Ship Lease remains unfazed by uncertain box market outlook Legacy charters from container market supercycle and recent tightening of supply and demand help US-listed owner to strong fourth quarter...
The week in charts: Alternative-fuel newbuilding orders decline | Red Sea crisis pains Piraeus | War halves Ukraine's maritime trade | Container rates slide A slowdown in liner alt-fuel orders has led to commodity carriers making up the greater share of newbuilding orders in...
The week in newbuildings: Dry cargo carriers and tankers dominate Newbuilding contracts for 24 dry cargo carriers, 16 tankers and four vehicle carriers recorded in the past week, all at...
Stephenson Harwood hires two partners from Ince & Co Middle East New recruits specialise in dispute resolution
US fund takes legal fight against CMB's Euronav takeover to Belgium US fund FourWorld Capital Management, which recently bought a 2.4% stake in Euronav and is seeking a settlement from CMB...
Record volumes of Russian oil shipped outside the West's reach after sanctions crackdown Just 39% of tankers calling at Russian ports over February had marine insurance with the International Group of P&I clubs...
Marsh expands Ukraine facility to cover all non-military cargoes Arrangement allows underwriters to quote extra premiums at steep discount to market rates while still making a commercial profit
Hanwha completes HSD Engine takeover to boost green marine propulsion Hanwha Group says the acquisition will let the conglomerate offer broader services from shipbuilding to engine production, and to strengthen...
VLCC recovery could be at risk on ordering rush, Poten cautions While VLCC rates are expected to remain strong in until 2025, the future market will not be smooth sailing
Daily Briefing Is shipping's decarbonisation revolution about to start slow steaming? | The mess of EU ETS compliance: 'No pub, no beer'...
Slync's technology finds new home in consulting group led by industry veteran The saga of embattled technology vendor Slync may have reached a final chapter with its technology assets being acquired by a consulting group that works with importers and exporters.
Growing project backlogs a silver lining for EPCs amid mixed profit results Four EPC majors -- Fluor, KBR, TechnipFMC and Worley -- reported double-digit growth in order backlogs and say they are optimistic about continued revenue momentum into 2024.
Driven by shipper needs, land rush reconfiguring US LTL sector, terminals Changing shipping requirements and competitive pressures are reshaping US less-than-truckload networks and LTL terminals themselves at an unprecedented rate.
Global Ship Lease sees term charter appetite growing amid Red Sea crisis Larger ships could find two- to three-year contracts as freight rates rise
The deal that wasn't: Scorpio not a seller of tanker quintet Confusion appears to drive market chatter in wake of earlier Wayzata deal
Capesize spot rates climb to 11-week high as Australia and Brazil iron ore volumes surge Miners feast on slimming tonnage, but futures lose steam in backwardated market
Dragnis family firm Goldenport returns to capesize segment as market sizzles Diversified Greek shipowner picks up a 13-year-old vessel as bulker S&P surges
Anxious about ammonia: BW LPG chief cautious on gas shipping's hot ticket newbuildings CEO notes growing orderbook for specialist ships and questions what will happen if ammonia projects do not materialise
Fire on container ship targeted by twin Houthi rocket strike Crew fighting fire on MSC Sky II after rocket hits accommodation block
Capital Product Partners offloads container ship trio as sell-off extends Boxship divestments form part of Marinakis-controlled company's ongoing transformation into an LNG pure-play
Houthis attack damages container ship south of Yemen Vessel was reported to have been hit during voyage to Dijbouti
Svitzer brings in former Torm executive as 450-strong fleet prepares to split from Maersk Towage giant also adds former banker Michael Nass Nielsen to strengthen top team
Sanctions squeeze leads Russia to surprise cuts in crude exports Opec+ countries say they will continue their oil cuts into the second quarter of 2024
IMO offers support as ship sunk by Houthis sparks pollution fears Questions remain over whether pollution containment operation will be practical or safe
Airbus-chartered Louis Dreyfus Armateurs ship gets suctions sails The Ville de Bordeaux has three Bound4Blue suction sails installed in Spain
Clarksons wargames Middle East twists as uncertainty stalks shipping UK broker has mapped out various scenarios as Middle East crisis continues
Nigeria's giant Dangote refinery seeks term deal for tanker to bring in crude Facility near Lagos tenders for three-month contract, with three months of options
Stephenson Harwood boosts Middle East presence with addition of seven-strong Ince law team UK-headquartered firm brings in Mohamed El Hawawy, Khurram Ali and others from collapsed rival
'Euphoria' grips dry cargo S&P as spending hits highest level since global financial crisis Secondhand deals abound as strong freight market fuels shipowner confidence
Gunvor fined $661m over Petroecuador corruption scandal Senior official at state-backed oil company was paid off with 18-carat gold watch
VLCC mega-deal paying off for Frontline with $3bn value in sight for ex-Euronav vessels John Fredriksen company already $250m in the money on deal to add 24 modern tankers
CMA CGM bid for Wincanton hits the buffers after board backs rival offer French carrier left ruing its logistics options after higher offer from US-based GXO
World's first absolute zero-emission container ship set to be ordered by start-up Dannielle Southcott founded Veer with a vision to revolutionise container shipping
VLCC mega-deal paying off for Frontline with $3bn value in sight for ex-Euronav tankers John Fredriksen company already $250m in the money on deal to add 24 modern tankers
Tsakos tied to shuttle tanker order at SHI backed by contract with oil major Greek shipowner is said to have ordered the conventionally fuelled high-spec crude carrier against charter
Clarksons eyes growth in all regions around 'powerhouse' London, says Andi Case Clarksons boss outlines plans for expansion in 2024
Turkish shipowner Manta takes top dollar on lucrative LPG carrier asset play Mid-sized carrier said to be changing hands after doubling in value in just five years
Tsakos tied to shuttle tanker order at Samsung backed by charter with oil major The Greek shipowner is said to have ordered the conventionally fuelled high-spec crude carrier against charter
Ex-Shell shipping boss Grahaeme Henderson launches 'golden rules' safety coalition Former Shell executive steering Together in Safety's campaign to save seafarer lives
Western Bulk names ex-Seatankers man as new interim chief executive Interim chief executive has long experience within corporate finance
MAN Energy Solutions set to deliver first ammonia engine this year CEO Uwe Lauber is not expecting green ammonia supply to scale up before 2030
Poten warns of VLCC ordering surge with shifting oil demand dynamics in Asia Broker says shift in Asian oil demand a key factor that could impact demand for larger tankers
Major Euronav investor intensifies fight against Saverys takeover 'Event-driven' investment adviser FourWorld now wants CMB to raise its bid on Euronav shares in Belgium
Dubai's International Shipping & Logistics sends panamax bulker for recycling Pakistan grabs ISL Star, while India and Bangladesh buy up industry minnows to get tonnage on the beach before Ramadan
MOL Chemical Tankers completes $400m takeover of Fairfield Chemical Carriers MOLCT now controls a fleet of 117 chemical tankers
Dubai's International Shipping & Logistics sends panamax bulker for recycling Pakistan grabs ISL Star while India and Bangladesh buy up industry minnows to get tonnage on the beach before Ramadan
Poten urges caution following VLCC newbuilding order surge Broker says change in focus of oil demand growth in Asia among factors that will impact demand for larger tankers
Does artificial intelligence put maritime jobs at risk? Efficiency will help shipping professionals focus less on repetitive tasks and more on things that matter, experts say
UPS adds twin-bay maintenance hangar at Worldport hub The UPS maintenance division is moving into a new hangar, capable of supporting 747 jumbo jets, at its global air hub in Louisville, Kentucky.
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