Key Bridge response operations deal with weather challenges The Unified Command responding to the collapse of Baltimore's Francis Scott Key Bridge was continuing to coordinate operations Wednesday, despite challenging weather conditions that included severe thunderstorms and high winds. Trained crews,
VIDEO: Metal Shark's new Prowler interceptor is autonomous and semisubmersible Jeanerette, La., headquartered boat builder Metal Shark will use next week's Sea-Air-Space event to debut the Prowler, a versatile military craft that combines multiple technologies to meet the current and near-future warfighting
Ship owner and master fined after pilot ladder breaks Here's another incident underscoring the importance of pilot ladder maintenance. The Australian Maritime Safety Authority (AMSA) reports that, acting on its behalf, he Commonwealth Director of Public Prosecutions (CDPP) has successfully prosecuted
Container traders anticipate rise in disruptions and increase in container prices in the Wake of Baltimore Bridge Collision In the aftermath of the Baltimore Bridge collision, supply chain professionals are anticipating price hikes, as indicated by a significant rise in sentiment for container price increases. A rebound of freight volumes into the US this year, coupled with the bridge incident and the ongoing challenges in the Red Sea as well as the Panama Canal is expected to strain key US ports in the short term. Th
DB Schenker launches onboard courier service DB Schenker, a major global logistics service provider, has unveiled a new standardized product tailored to a growing market segment: Customers now have the option to utilize the exclusive onboard courier (OBC) service, guaranteeing swift and reliable express air transport to and from any destination worldwide. This latest addition caters specifically to customers requiring urgent courier solutio
Bunker indices show moderate upward trend During the 14th week of the year, there was a moderate upward trend observed in the Marine Bunker Exchange (MABUX) global bunker indices. The 380 HSFO index saw a rise of US$6.91 to US$553.09/MT. The VLSFO index climbed by US$8.49, reaching US$696.13/MT. Additionally, the MGO index experienced an increase of US$10.14, surpassing the US$900 mark and reaching US$901.39/MT. "At the time of writing,
Duvenbeck introduces e-fulfilment services The logistics firm Duvenbeck has entered the e-fulfilment industry, inaugurating a new fulfilment centre in Böblingen, Germany near Stuttgart earlier this year. This facility is dedicated to processing online purchases, offering a comprehensive range of services tailored to the needs of Internet stores and online marketplaces. With Duvenbeck, online merchants now have access to a one-stop solutio
ONE refreshes Adriatic service Singapore-based box line Ocean Network Express (ONE) has announced an update to its Adriatic Feeder Service (AIB) in the Mediterranean region. "The service rotation has been redesigned to continue to offer seamless connections to the Asia-Mediterranean network," said ONE in a statement. "The updated AIB service will be expected to provide a reliable and quality assured transport solution as well
Maersk names second methanol-enabled vessel in Japan In a ceremony conducted in Yokohama, Japan on 4 April 2024, the world's second large methanol-enabled container ship was officially named "Astrid Maersk". The vessel marks the second installment in Maersk's series of 18 large methanol-enabled vessels, slated for delivery between 2024 and 2025. This innovative fleet is poised to make a substantial contribution to the company's net-zero targets and
CMA CGM partners with automobile giants on electric van venture CMA CGM Group announced its participation as a founding member of the innovative electric van venture, Flexis SAS, alongside Renault Group and Volvo. The partnership unveiled on 22 March marks a significant step towards sustainable transportation solutions. Through its energy investment fund, PULSE, CMA CGM has secured a 10% ownership stake in Flexis SAS. Additionally, the company expresses keen
Demand shocks drive ship recycling to lowest level in 20 years Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. A combination of strong demand following a series of market shocks and low order books have kept older ships operating for longer than usual. During the first quarter of 2024, only two million deadweight tonnes (DWT) ship capacity were recycled. This marks the ninth co
Eight missing after SITC boxship collides with Chinese fishing trawler A ship operated by SITC Container Lines collided with a Chinese fishing trawler off Hainan Island, China just after midnight local time on 3 April, leaving eight persons missing after the trawler capsized. The Panama-flagged ship, 1,032 TEU SITC Danang had just departed China's Qinzhou port and was on its way to Ho Chi Minh City, Vietnam, when the accident happened around 12.15 am local time. The
DP World and Brazilian railway operator to build new terminal at Santos DP World has joined forces with Brazilian railway operator Rumo to build a new terminal at the Port of Santos to handle 12.5 million tonnes of grains and fertilizers per year. The total investment for the construction of this state-of-the-art facility, according to Rumo's estimations, reaches US$500 million, which will be financed through a combination of Rumo's resources, loans, and potential pa
CMA CGM to retrofit 100 vessels at Damen's European facilities French liner operator CMA CGM will send around 100 of its vessels to the European facilities of Damen Shipyards for significant modifications, which are expected to deliver fuel efficiencies of more than 10%. The upgrades will take place at Damen Shiprepair Dunkerque (DSDu) in France and Damen Shiprepair Amsterdam (DSAm) in the Netherlands, which between them have some of Europe's largest dry doc
TIPC upgrades container terminals in Kaohsiung Container Terminal 7 of the port of Kaohsiung, which started operations in May 2023, is expected to increase the annual container handling capacity of the Taiwanese port by 6.5 million TEUs, according to Taiwan International Ports Corporation (TIPC), which is now focussed on the upgrade of two other box terminals. TIPC has now shifted its attention to Port of Kaohsiung's 3rd and 5th Container Ter
Baltimore rerouting not impacting broader ocean operations or rates so far: Freightos Analysis Salvage crews have already started working to clear the wreckage from last week's bridge collapse in Baltimore. Despite this task's complexity and obstacles in the way, the US Army Corp of Engineers estimates it will take weeks, not months, to restore full access to the port. Teams will first work to open a temporary channel allowing easier access for recovery vessels and restoring some commercia
AD Ports Group partners with General Company for Ports of Iraq AD Ports Group has entered into a preliminary agreement with the General Company for Ports of Iraq (GCPI). This agreement outlines the establishment of a joint venture aimed at developing Al-Faw Grand Port and its associated economic zone, along with potential future expansions. Additionally, the agreement encompasses the possibility of investment, management, and operation of ports, economic zon
Buying Property in Portugal: Where to Start? Portugal has a strong case for real estate investment, especially in its capital city of Lisbon, given its fascinating history, lively culture, and breathtaking scenery. This city offers a vibrant market for both experienced and inexperienced investors because of its stunning architecture and multicultural atmosphere. Investing in Lisbon real estate can result in significant earnings that offer m
UK vs US - A Comprehensive Comparison There is a lot of conversation and interest around the subject of living in the UK vs the US because every country has advantages and peculiarities that have a huge impact on work, leisure, and lifestyle. While working abroad increase its popularity, making comparisons among countries became everyday topics.This comparison explores the subtleties of daily life, cultural differences, and the overa
Port of Antwerp-Bruges marks first methanol bunkering with Ane Maersk The first large methanol-powered deep-sea vessel, named 'Ane Maersk', made its inaugural call at the Antwerp port, docking at the MSC PSA European Terminal (MPET). During its port stay, the vessel underwent its first bunker operation in European waters, receiving 4,300 tons of green methanol and 1,375 tons of biodiesel (B100). This successful bunkering operation signifies a significant milestone
US targets Emirati shipmanager and 13 vessels in latest round of Iran-related sanctions The US has imposed sanctions on a United Arab Emirates-based shipmanager and 13 vessels linked to its role in shipping commodities on behalf of Iran's military. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) said Thursday that Dubai-based Oceanlink Maritime facilitated shipments of unspecified Iranian commodities on behalf of Iran's Armed ...
DP World teams with Rumo for new $500m grain and fertiliser terminal at Brazil's Santos port Dubai-based terminal operator DP World has partnered up with Brazilian railway operator Rumo to build a grain and fertilizer terminal at the Port of Santos in Brazil. The new terminal, estimated to cost about $500m, will handle 9m tonnes of grains and 3.5m tonnes of fertilizers a year. Construction is expected to take 30 months, ...
Golden Energy Offshore finds work for PSV duo Norway's Golden Energy Offshore Services (GEOS) has won new short-term contracts for two of its platform supply vessels (PSVs). The two platform suppliers in question are Energy Swan and Energy Partner. The clients were left undisclosed but were described by the company as "first-class international charterers." Until recently, the Energy Swan has been busy under ...
Saudi Aramco suspends deals for Borr and Arabian Drilling jackups Two more offshore drillers have received a contract suspension for jackup rigs in Saudi Arabia. The latest ones are Borr Drilling and Arabian Drilling. Borr Drilling said in an Oslo Bors filing that it received a notice of temporary suspension of operations for its Arabia I working in Saudi Arabia. The fleet status report states ...
DeepOcean lands long-term deal with Equinor Norwegian offshore contractor DeepOcean has sealed a frame agreement with Equinor for marine services on both offshore renewables and oil and gas fields. The agreement is valid for four years, with options to extend it for up to four more years, and covers subsea intervention and repair contingency for subsea pipelines, structures, and high voltage ...
Sapura Energy awarded subsea services contract by Shell Malaysian offshore services provider Sapura Energy has been awarded a contract to provide pan-Malaysia underwater services for the Petronas group of companies and petroleum arrangement contractors. The company said in a stock exchange filing that its subsidiary Sapura Subsea Services had won the contract from Shell that will run until January 30, 2029. The value ...
Precious Shipping sells ageing supramax in fleet renewal push Thai dry bulk player Precious Shipping has continued its fleet renewal push with the sale of a 2013-built supramax. The Khalid Hashim-led listed owner is shipping out the 53,857 dwt Wikanda Naree for $13.66m. The vessel built at Hindustan yard in India is expected to change hands by April 8 this year. Precious Shipping said ...
Ship recycling hits 20-year lows Ship recycling of bulkers, tankers, and container ships has dropped to the lowest level in 20 years over the past two years, according to the world's largest international shipping association BIMCO. The organisation claimed that only 2m dwt ship capacity was recycled during the first quarter of 2024. This marks the ninth consecutive quarter with ...
Salvors wait for improved weather in Baltimore Appalling weather conditions are set to ease in the coming days making salvage operations at Baltimore port easier. One of the operations set to get underway will be to start taking undamaged cargo off the Dali, the 9,962 teu ship on charter to Maersk that hit and destroyed the Francis Scott Key bridge last week. ...
Safeen Feeders vessel joins Stena Sonangol suezmax pool AD Ports Group's shipping arm Safeen Feeders has joined the Stena Sonangol suezmax pool, a joint venture between Swedish shipowner Stena Bulk, and Angola's state-run oil company Sonangol. The 2011 Hyundai Heavy-built 158,600 dwt Safeen Elizabeth, picked up from Ridgebury Tankers about a year ago, has recently joined the pool in Kalundborg, Denmark. "We believe ...
Washington seeks new ways to deescalate Red Sea shipping crisis The US is trying a new carrot-and-stick approach in its dealings with the Houthis in Yemen. On the one hand, the US military is claiming its attacks on Houthi installations are working, reducing the group's capabilities to attack merchant ships in the Red Sea and the Gulf of Aden lately. Meanwhile, the American diplomatic line ...
ADES gets suspension notice for five jackups in Saudi Arabia Oil and gas driller Advanced Energy Services (ADES) has mutually agreed with its client in Saudi Arabia to temporarily suspend operations on five of its 33 offshore jack-ups operating in the country for up to 12 months. One of the suspended rigs will be deployed to work on a recently awarded $94m campaign for PTTEP ...
Dyna-Mac scores largest ever contract Dyna-Mac has landed the largest ever contract in the company's history, taking its orderbook to a record S$896m ($663m). In a series of contracts with project deliveries stretching to 2026, a well-known maker of FPSO, FSO and FSRU topside modules said it had secured an order from an undisclosed client involving a record tonnage and ...
Swedish gigawatt-scale offshore wind farm receives key environmental permit A potential 5.5 GW offshore wind farm project in the Swedish Economic Zone has been granted a Natura 2000 permit by the County Administrative Board of Gotland. The wind farm, dubbed Aurora, consisting of up to 370 turbines with a maximum height of 370 m is being proposed outside the islands of Gotland and öland ...
CMA CGM earmarks 100 ships for upgrades French liner giant CMA CGM has tapped Damen Shipyards Group to modify around 100 of its ships. The modifications are aimed to deliver fuel efficiencies of more than 10%. The upgrades will take place at Damen Shiprepair Dunkerque (DSDu) and Damen Shiprepair Amsterdam (DSAm), which between them have some of Europe's largest drydocks. The key ...
PGS scores 4D survey contract in Northern Europe Oslo-listed seismic player PGS has won a 4D contract in Northern Europe for an independent energy company. The company is scheduled to mobilise its Ramform Tethys vessel for the survey in late April. The project will have a total duration of approximately 30 days. "We are very pleased with this contract award, marking the start ...
Giant new Iraqi port touted as alternative gateway to Europe Abu Dhabi's AD Ports Group has entered into a preliminary agreement with the General Company for Ports of Iraq (GCPI) to establish a joint venture to develop Al-Faw Grand Port and its economic zone. The agreement also encompasses the potential investment, management, and operation of ports, economic zones, and related infrastructure in other cities in ...
Baltimore port aims for limited traffic restoration this month after bridge disaster The reopening plans could be affected by adverse weather or 'changes in the complexity of the wreckage,' cautioned USACE Commanding...
MSC faces potential $63m FMC fine for actions during supply chain crisis Allegations arose during the supply chain crisis that container shipping lines took advantage of the situation. The FMC Office of...
US sanctions 13 tankers and LPG carriers ferrying Iranian commodities Latest round of Ofac actions sees 13 ships, all linked to operator Oceanlink Maritime DMCC, blacklisted for shipping Iranian commodities...
Danish military closes shipping strait over missile fault The Danish military has closed the Great Belt Strait to air and sea traffic owing to a risk that a...
Delay cover will pick up bill for Baltimore waits... for minority that have it 'Always accessible' and 'reachable on arrival' warranties may come into play on voyage charters, lawyer adds
Russian crude exports defy G7 price cap during March Average prices of Russian crude grades have exceeded the $60 per barrel cap for nine of the past 10 months...
Iran's oil exports sail to record post-sanctions first quarter as second Panama-flagged tanker exodus gets under way Preliminary figures from UANI showing that Tehran shipped more oil in the first quarter than in any equivalent period since...
Maersk bunkers first deepsea methanol vessel in Antwerp-Bruges Ane Maersk is the first ocean-going containership that can burn methanol. Halfway through its inaugural voyage, it has topped up...
Scrapping hits the rocks as demand stays strong Scrapping was expected to have returned to historical trends by now. But a combination of strong demand and low orderbooks...
Euroseas scores higher charter deal for newly retrofitted boxship Latest retrofit aims to reduce consumption by 25% - equivalent to a reduction of 8,800 tonnes of CO2 a year
The Alliance pauses service restart on Red Sea disruptions Container lines, with few exceptions, have resolved to rerouting to avoid the Red Sea. But such disruptions are still being...
HMM and SIPG sign agreement on green marine fuel bunkering Shanghai International Port Group previously signed MOUs with Maersk, Cosco Shipping and CMA CGM for green methanol bunkering
Daily Briefing Capesize correction gathers steam as spot rates and FFAs fall | Baltimore bridge collapse vessel owners could still claim general...
Vessel reports 'electronic interference' in Middle East Gulf The United Kingdom Maritime Trade Operations has reported an unusual incident of electronic interference in the Middle East Gulf. The...
Red Sea attacks pull idle containership capacity back to pandemic levels Carriers signed multi-year charters during the supply chain crisis. A key question for ship lessors is: Will Red Sea disruptions...
FMC unit seeks $63 million fine against MSC for alleged shipping law violations The recommended fine, which requires approval from an FMC judge, aims to rebuke the world's largest shipping company for alleged multiple violations around detention and demurrage billing.
BNSF testing terminal fluidity measures ahead of appointment system rollout The railroad is gathering information on how to streamline the flow of trucks through terminals ahead of launching an appointment system later this year at three key hubs.
Ports in Europe, Asia strengthen multifuel bunkering ambitions Demand for alternative fuels is set to rise exponentially as huge numbers of dual-fueled ships are delivered over the next two years while major hubs are rapidly developing their green bunkering capabilities.
Asian air cargo block space sold out for 2024 as e-commerce fills export capacity The air freight market is off to a strong start this year with volume out of Asia up 11% in the traditionally slow first quarter while rates rose steadily through March.
Journal of Commerce rankings: Top 40 truckload carriers still weak after 2023 plunge The largest truckload carriers increased revenue 40% from 2020 through 2022, but their rocket ran out of fuel last year amid tumbling spot market prices, lower contract rates and falling fuel surcharges.
How was Genco Shipping's John Wobensmith rewarded in a leaner year for dry bulk? New York-based dry bulk owner lays out compensation details for executives and directors
US pressures Iranian military revenue with sanctions against Dubai ship manager and 13 vessels VLCC accused of carrying out ship-to-ship transfer with sanctioned NITC vessel
Greek owner Benelux Overseas exiting VLGC market with $43m deal Kostas Angelou-led company has been a very busy player on the S&P and newbuilding markets for gas carriers
Shipping needs a 'global standard' to measure life-cycle emissions Credibility is threatened if life-cycle assessment (LCA) are not assessed properly, argues Deltamarin
'Electronic interference': Rare cyber attack targets ship off coast of Iran Security source says incident is probably beyond Houthi capabilities
British cleantech firm gets venture capital funding for wind propulsion trials GT Green technologies wins backing from OnePlanetCapital, along with investment from Carisbrooke Shipping
Cypriot owner EDT builds fleet with MPSV from Israeli government Island Offshore also offloaded PSV in strong secondhand market
Baltimore bridge tragedy puts fuel contamination in shipping spotlight While cause of deadly accident remains unknown, industry experts say fuel quality is an ongoing problem
Ship designer sued after vessel vibrations caused cracking, ITIC reveals UK insurer covered naval architect in complex case involving an oil and gas ship
Brokers and scientists hit out at unintended consequence of key shipping emissions law IMO 2020 rules on sulphur emissions are having an unintended consequence in the world's oceans
Navios and bulker giants head pack as shipping tracks S&P 500 in first quarter This week's Streetwise takes a look at the winners and losers for shipping stocks in the first quarter
Andreas Martinos firm Minerva Marine sells aframax tanker after newbuilding orders Major Greek owner Andreas Martinos is parting with one of his oldest crude carriers
Precious offloads second bulker in 2024 as it drives fleet renewal Thai-based shipowner confirms disposal of 11-year-old supramax bulker built by yard in India
'Teslas of the seas': The ammonia-fuelled vessels poised for their debut But green fuel supply and infrastructure of incoming zero-emission fuel will likely take years to go global
Stena and Sonangol add new member to 'more open' suezmax tanker pool Middle East owner contributes 2011-built ship to operation numbering around 20 vessels
Red Sea crisis pushes tanker tonne-mile demand to all-time high in March LR2s capitalising the most from Red Sea disruption, Fearnley Securities believes
Drought-hit Spanish region rules out shipping in water on tankers Government of Andalusia says recent rains have improved reserves
Greek shipowner E Nomikos plays both sides of bulker S&P game Low-profile panamax specialist shakes out its oldest vessel to replace it with a five years younger unit
Color Group calls in five banks for $65m bond issue Cruise ferry owner will hold bond investor meetings from today
Andi Case's pay nears £12m at Clarksons as overall bonus pot grows CEO and finance chief Jeff Woyda not waiving bonuses this year due to record profit
Shipping is headline news and investors are opening their wallets as they wake up to opportunity Baltic Exchange CEO Mark Jackson believes new investor indices will help attract more money to shipping markets
Nova Marine Carriers banks tidy profit from quick bulker asset play Swiss bulker player flips Tsuneishi Cebu-built vessel four months after acquiring it
Scottish ferry fiasco claims second chief executive scalp CalMac CEO is the latest casualty in a long running saga involving the construction of two new ferries
ZeroNorth opens up in Japan to spearhead Asian sustainability drive Danish platform wants to strengthen ties in huge market
FMC fears glut of container fee disputes after Baltimore bridge collapse Federal regulators are bracing for a surge in container late fee complaints as ocean carriers and shippers process alternate routing options following the collapse of the Francis Scott Key Bridge.
Postal Service's air cargo shift to UPS makes everyone a winner The U.S. Postal Service picked UPS to replace FedEx as its primary partner for moving parcels by air, but analysts say FedEx actually comes out ahead by losing the business.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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