NTSB: Speed a factor in a costly collision between a Z-drive tugboat and a VLCC The National Transportation Safety Board has issued its report on a January 22, 2023 incident in which the azimuthing stern drive, or Z-drive, tugboat Mark E Kuebler, owned by Bay-Houston Towing Co.
First of six new fast commuter ferries starts service in Hong Kong Now in operation with Hong Kong's Sun Ferry Services Company Limited, the 44.8 meter, 500 passenger Xin Ming Xhu VIII, is the first of six new Incat Crowther designed fast commuter ferries
EBDG's CHAMP barge will be Wärtsilä powered In a move to cut vessel emissions in U.S. ports, Seattle, Wash., based naval architecture firm Elliott Bay Design Group (EBDG) has entered into a collaboration agreement with Wärtsilä that will see
ICTSI nears 13 million TEUs in 2023 In 2023, International Container Terminal Services, Inc. (ICTSI) handled a consolidated volume of 12,749,214 TEUs, marking a 4% increase compared to the 12,216,190 TEUs handled in 2022. The rise in consolidated volume was primarily driven by the contribution of Manila North Harbour Port (MNHPI) in Manila, Philippines, effective from September 2022, alongside enhanced trade activities and the intr
CMA CGM introduces new local port charges in Indonesia French shipping line CMA CGM has announced new local port charges in Indonesia, set to take effect from 15 March 2024 (date of loading in the origin ports) until further notice and until 10 April 2024 for shipments to the United States. This charge will apply to both imports and exports and will apply to all types of cargo. The amount of the new charge will be US$15 for 20-foot containers, US$20
Port of New Orleans container-on-barge service marks new record The Port of New Orleans (Port NOLA) marked 20,500 container moves by barge during the calendar year 2023, which is the highest since starting the service in 2016 with the Port of Greater Baton Rouge and Ingram Marine Group. The partnership represents the largest container-on-barge network in the United States with connectivity to the nation's heartland. Container-on-barge moves containers by wate
Kalmar secures electric equipment deal with APMT to enhance LA terminal Kalmar, a part of Cargotec, has entered into an agreement with APM Terminals Pier 400 Los Angeles to deliver two new Kalmar electric AutoStrads and upgrade two existing hybrid straddle carriers. These additions and modifications will contribute to APM Terminal's US$60 million electrification initiative. The significant order was recorded in Cargotec's Q1 2024 order intake, with the pilot program
Singapore and Australia sign green and digital shipping corridor deal During the 9th Annual Leaders' Meeting in Melbourne on 5 March 2024, the Prime Ministers of Singapore and Australia signed a Memorandum of Understanding (MoU), which formally establishes the Singapore-Australia Green and Digital Shipping Corridor (GDSC). The MoU, inked by Chee Hong Tat, Singapore's minister for transport and second minister for finance, and the Hon Catherine King MP, Australian m
Freeport of Riga Board elects new chairman and vice-chairman During the latest Freeport of Riga Board meeting on 1 March, Sandis Steins was elected as the chairman of the Freeport of Riga Board, with Liene Priedite-Kancevica chosen as the vice-chairman of the Board. Steins, who holds a Master's degree in economics, brings extensive experience in managing large enterprises and state capital companies, having served in various managerial roles in organizatio
Weak demand puts paid to talk of empty box crisis Fears that there is a looming empty repositioning crisis in Asia have subsided as weak demand and the continued growth in capacity have combined to see rates slide in the post-Chinese New Year period. Hong Kong analyst Linerlytica reported that the "freight rate correction has gathered pace," as "carriers failed to defend their pre-Chinese New Year gains." According to Linerlytica the SCFI had lo
Samskip boosts Baltic Sea connections Samskip advanced its strategic development in the Baltic Sea region by expanding service capacity and incorporating the port of Klaipeda into its network. This extended service builds upon the earlier introduction of Samskip's dedicated Baltic Sea shortsea service in November 2023. As part of its expanded Baltic Sea service, Samskip will enhance capacity by deploying two 803 TEU container vessels
Port of Rotterdam enhances security for import-container chain Starting 31 March 2024, import containers arriving at the port of Rotterdam from Latin America will exclusively be released through the Secure Chain, ensuring both security and reliability. This new operational approach establishes a closed logistics system involving only recognized and authorized parties. The implementation of the Secure Chain is one aspect of a collaborative effort between publ
A Beginner's Guide To Financing Your Import/Export Business Venturing into the world of import/export businesses can be both exhilarating and daunting. The thrill of connecting markets, cultures, and products across borders offers immense potential for growth and profitability. However, the backbone of any successful import/export operation lies in its financial management and strategy. That said, this guide aims to walk beginners through every step of th
Maersk offers global toy manufacturer Bandai Namco logistics solution in Mexico A.P. Moller-Maersk has formed a partnership with renowned toy manufacturer Bandai Namco with a distribution centre to handle its supply chain and logistics operations in Mexico City. Situated strategically in the northern region of the city, this facility acts as a crucial hub for preparing deliveries to all of Bandai's clientele throughout Mexico. This collaboration grants Bandai access to a lar
Houthis hit MSC vessel in Gulf of Aden with missile An MSC-owned container ship was attacked by Houthi rebels while crossing the Red Sea on 4 March. According to the US Central Command, the 1999-built, 2,169 TEU MSC Sky II was attacked 91 nautical miles southeast of Aden, Yemen, around 2.15 am (Yemen time). UK Maritime Trade Operations (UKMTO) said, "The master reports the vessel is clear of the area and is proceeding to its next port of call. The
Container shipping alliance landscape: Dominant OCEAN Alliance extension leaves THE Alliance stranded The extension of cooperation among OCEAN Alliance partners has established a framework for the operation of major container lines in the coming years. As CMA CGM, COSCO, along with its subsidiary OOCL, and Evergreen will remain under the OCEAN Alliance umbrella until 2032 and Maersk has already announced its upcoming partnership with Hapag-Lloyd, effective from February 2025, the members of THE A
India seizes Pakistan-bound cargo from CMA CGM boxship India has seized cargo from a CMA CGM container ship bound for the port of Karachi, which India claims could be used in Pakistan's nuclear weapons programme. In January, two advanced Computer Numerical Control (CNC) machines manufactured by Italian company GKD were seized by Indian customs at Mumbai Port and will remain in Indian custody, according to Indian media sources. India said that officia
Melbourne's VICT proceeds with expansion project Victoria International Container Terminal (VICT) recently completed Phase 3A of its expansion project. With the expansion of VICT, supersized ships can now sail directly into Port Phillip and dock at VICT, the only terminal in Melbourne capable of receiving them. This translates to faster turnaround times, improved efficiency, and ultimately, a competitive edge for Australian businesses, accordin
Georgia Ports Authority reports over 450,000 TEUs in February In February, the Georgia Ports Authority (GPA) handled 451,670 TEUs, marking a rise of 56,880 TEUs or 14.4% from the same month in the previous year. The loaded import containers surged by 19% to reach 219,000 TEUs, while export loads saw a 10% increase totalling 121,930 TEUs. "I'd like to thank our customers for making Savannah the premier gateway into the U.S. Southeast for global commerce. The
CMA CGM drops Wincanton pursuit French carrier CMA CGM has decided to drop its bid for British logistics firm Wincanton amid a rival takeover bid. On Tuesday, CMA CGM's CEVA Logistics said it would not increase its takeover offer after being outdone by US-based warehousing firm GXO Logistics. Last week, the owner of Clipper Logistics logged a bid under which ...
Genco rejects Economou's board nominees US-listed bulker owner Genco Shipping & Trading has rejected Greek shipowner George Economou's two nominees to its board, saying that their additions would not be in the best interest of the company or its shareholders. The John Wobensmith-led player with more than 40 ships in its fleet said Tuesday that Randee Day, president and CEO ...
Ocean Technologies Group acquires Danish regulatory compliance platform Consolidation within the maritime tech space has continued with London-based Ocean Technologies Group (OTG) acquiring Danish software company DanDocs, which specializes in regulatory compliance. Established by Ronni Palmqvist, DanDocs is best known for its flagship digital MarineRegulations portal, which offers a comprehensive collection of marine rules and regulations, both onshore and onboard.
SSY sets up agricultural commodities unit UK shipbroking group SSY is bolstering its footprint in the commodities sector with the launch of a dedicated agricultural derivatives sales and execution business. The London-headquartered outfit said the new desk of its SSY Futures commodities division will initially focus on grains, oil seeds and soft commodity derivatives. The operation will be headed up by ...
Inpex taps Fugro for Abadi LNG marine survey deal Japanese oil and gas major Inpex has awarded Fugro a marine survey contract for the Abadi liquefied natural gas (LNG) project in Indonesia. Fugro will perform geophysical and geotechnical surveys needed to support front-end engineering design for offshore production facilities, the submarine pipeline to the onshore LNG terminal, and the CO2 injection infrastructure. Financial details ...
Hafnia buying back five ships Product tanker giant of Singapore's BW Group, Hafnia, has revealed a series of vessel repurchases on the back of record profit for the second consecutive year. The Oslo-listed owner and operator of about 130 ships has exercised options to buy back five tankers tied to lease financing. The Mikael Skov-led firm is taking back ownership ...
Kim Heng and Mansam team up on offshore wind projects Singapore offshore vessel operator and marine engineering player Kim Heng is expanding its footprint in the offshore wind services sector via a new partnership. The company's subsidiary, Kim Heng Marine & Oilfield has entered into a memorandum of understanding with Melbourne-based Mansam to work together on offshore wind farm as well as other offshore projects. ...
Houthis move to tighten grip on Red Sea shipping Emboldened by their first ship sinking the Houthis are now insisting any ships entering their territorial waters need to obtain a permit. Ships will have to obtain a permit from Yemen's Houthi-controlled Maritime Affairs Authority before entering Yemeni waters, Houthi telecommunications minister Misfer Al-Numair claimed yesterday. Yemeni waters extend halfway across the Bab al-Mandab strait, ...
Hanwha Ocean wins Qatari LNG carrier orders Qatar Energy's fleet expansion scheme proceeds apace with a contract signed this week for 12 LNG carriers with Hanwha Ocean, the Korean yard formerly known as Daewoo Shipbuilding & Marine Engineering. Prices and delivery schedules have yet to be revealed. Last month, another Korean major yard, Samsung Heavy Industries, won an order from Qatar Energy ...
Floatel secures more options for Equinor-bound vessel Oslo-based accommodation vessel specialist Floatel has secured an optional contract with energy major Equinor for accommodation and support services at the Oseberg field centre. The optional deal is connected to the recently awarded contract for the. The 2010-built vessel will provide accommodation and support services at the Åsgard B facility on the Norwegian Continental ...
NYK unveils how it plans to get its car carriers to comply with new Californian emissions rules A giant black pipe will be inserted into the funnels of Nippon Yusen Kaisha (NYK) car carriers calling at ports in California from next year. NYK has contracted American firm STAX Engineering to use its emissions capture and control technology to recover exhaust gases from ships at berth in response to the California Air Resources ...
Nike ties the knot with CMA CGM on biofuels American sportswear giant Nike has contracted French liner CMA CGM to use sustainable biofuel for a part of its maritime transport for a trial 11-month period. Nike will use sustainable biofuel for the transportation of 36% of its volume with CMA CGM during the trial, claiming it will reduce CO2 emissions by 25,000 tons. "Collaborating ...
MOL seals charter for Korean LNG newbuild Mitsui OSK Lines (MOL) has signed a long-term charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker (TLT), a wholly-owned subsidiary of Tokyo Gas. This is the eighth contract, following a time charter contract for seven LNG carriers that were signed for TLT. The 174,000 cu m vessel will be built at Hanwha ...
Sastry rebrands Arise Shipping & Logistics Arise Shipping & Logistics has rebranded as Adhira Shipping and Logistics (ASL) following the full takeover of the company by its CEO, Pappu Sastry. ASL, best known for its African mining logistics expertise, offers a range of services including land logistics, project management, port management, barging and transshipment, shipping services and niche commodity trading. "Many ...
Contractual issues arising from EU ETS implementation explained Helen Barden and Mark Smith from NorthStandard answer questions arising from the first months of Europe's Emissions Trading System being applied to shipping. Several issues were left unanswered as the European Union's Emissions Trading System (EU ETS) was applied to shipping from the beginning of this year, but answers to those questions are becoming apparent. ...
US investor raises another obstacle for CMB's takeover of Euronav Funds managed by FourWorld Capital Management have filed another complaint regarding Compagnie Maritime Belge's (CMB) offer to purchase all outstanding ordinary shares of Euronav, this time with the Market Court in Belgium. With this new complaint, FourWorld is looking to put a stop to CMB's Belgian mandatory offer for all shares of Euronav. This comes ...
Cargo owners urged to pay up for energy transition now Lower carbon fuels are available to shippers who want to reduce their emissions. But few are prepared to pay the...
Sunken Rubymar's only UK link was its disputed insurance cover Yemeni Houthis sank the Belize-flagged bulker Rubymar on the basis of data that wrongly linked the Lebanese owners to a...
ITIC launches Brexit workaround subsidiary, Kirk confirms Marine mutual ends fronting arrangement with UKNV and sets up independent affiliate
Genco rejects Economou's board picks US bulker owner Genco rejected George Economou's two nominations to its board, saying they would not be in the interest...
Orca AI has eyes on autonomous navigation Orca AI's SeaPod system provides extra sets of eyes to masters while its algorithms know to warn them of danger...
Cosco ships continue to brave Red Sea despite Houthi threat Move comes as weekly bulker transits through the Bab el Mandeb Strait fall to their lowest level since the Red Sea...
Mitsui OSK and Allianz sue Volkswagen over Felicity Ace blaze Casualty caused by lithium-ion battery on Porsche vehicle, plaintiffs contend
Fixed premium P&I insurer Hydor acquires CMS UK company will maintain office in Chelmsford
Strong freight markets continue to reduce ship recycling candidates Recent ship recycling sales include a 25-year-old panamax bulk carrier and a 33-year-old, 1,300 teu containership. However, supply remains limited...
Singapore and Australia ink pact to develop green shipping corridor Agreement adds to some 40 similar initiatives signed over the past two years, which have yet to translate into actual...
Daily Briefing Record volumes of Russian oil shipped outside the West's reach after sanctions crackdown | Yildirim: I told Jacques Saadé box...
Shipping faces new reality: wars, protectionism, and threats to freedom of navigation Rough seas ahead for shipping as world approaches 'global danger' not seen in decades, forum hears
Boxship overcapacity threat may not be as bad as feared The ordering spree of the past three years has left container shipping facing the spectre of overcapacity again. But there...
Gemini Cooperation is a closed club, says Habben Jansen The Gemini Cooperation will create a new network model for box shipping. If it works, it will provide better reliability...
TPM24: Industry veteran sees little value in ocean carriers integrating logistics services Otto Schacht, who's worked for Hapag-Lloyd and Kuehne+Nagel, said forwarders will remain vital to the industry thanks to a high degree of customer service.
TPM24: Time for shippers to step up and pay for green ocean services: executives Increased demand from cargo owners for expensive low-carbon transport options is essential to the development and production at scale of alternative fuels, TPM24 attendees were told.
IMC Logistics buys California drayage provider American Pacific The purchase of American Pacific gives IMC two new locations in California as US imports from Asia increase after a lackluster 2023.
ODFL sees LTL pricing rising faster than US freight demand The second-largest US less-than-truckload provider reported a slight increase in shipments in February, and improving US manufacturing may herald stronger demand ahead.
TPM24: Carriers' Red Sea rates 'a loan, not a gift': Sea-Intelligence CEO As soon as regular transits resume through the Suez Canal, ocean rates will fall and container shipping's endemic overcapacity will return, Alan Murphy told TPM24 attendees.
TPM24: UP, BNSF confident relaunched Houston intermodal services will succeed The railroads say more vessels calling Houston translates into heavier volumes that will help intermodal services from the port gain traction this time.
TPM24: Red Sea diversions could force rethink of inventory strategies: ONE's Nixon While the extended transit times around southern Africa are currently manageable, the diversions, combined with a trend toward slower sailing speeds, will require stock holding levels to be raised, TPM24 attendees were told.
TPM24: Hapag-Lloyd CEO understands 'skepticism' over Gemini reliability vow The "twining" of Maersk and Hapag-Lloyd in the Gemini partnership will significantly improve vessel schedule reliability thanks to a hub-and-spoke strategy, Rolf Habben Jansen told TPM24.
TPM24: Economist sees US, global growth accelerating past recession fears Fiscal "loosening" ahead of interest rate cuts is spurring growth, but inflation remains a threat, S&P Global chief business economist Chris Williamson told TPM24.
TPM24: Former CIA chief says maritime trade under threat from global instability The global order of the last several decades that fostered growth in container shipping is largely over, leading to a risky world for supply chains, Robert Gates told TPM24.
Economou sues Tsantanis over his Seanergy Maritime super-voting powers Lawsuit complains CEO bought 49.99% voting control on $487m in assets for $250,000
LNG-fuelled shipping fleet crosses 500-vessel mark, DNV says Container ship that will use ammonia as fuel added to database in February
Lloyd's of London claims gains on diversity and inclusion Historic London insurance market says it is making progress on the representation of diverse groups
Genco Shipping rejects George Economou board nominees and hires one of its own New York owner taps Rio Tinto veteran to new seat, citing months-long search
Aramco and Inmarsat team up to trial first maritime 5G network MoU gives chance to link satellite service provision with 5G IoT networks in harsh Gulf environment
Ocean Yield banks $75m after tapping bond market Shipowner's perpetual callable hybrid bond 'oversubscribed', says sale-and-leaseback specialist
Heogh Autoliners hauls in cash to help fund ammonia-fuelled newbuildings Norwegian car carrier owner believes money from state-backed fund will cover a good chunk of the equipment
SSY Futures moves into agricultural commodities with three new hires Expansion follows success of broker's iron ore derivatives offering
Norwegian marine insurer Hydor on the acquisition trail as it buys UK outfit Latest deal follows the takeover of EF Marine last year
Alexander Hansson splashes $1m on Nordic American Tanker shares after fourth-quarter profit dip Son of CEO and founder Herbjorn Hansson now has a $10m slice of suezmax specialist
Hafnia sees Red Sea disruption adding demand for an extra 160 MR tankers Tanker giant says full effects of Houthi attacks on tonne-miles have yet to be felt
In pictures: Firefighters battle blaze on MSC ship hit by Houthi missile MSC Sky II targeted by two Houthi missiles which started a fire on board the boxship
Sanctioned shipowner Fractal shuffles management of tanker fleet after UK crackdown Equasis database shows nearly half of the fleet has gone to Turkey and other UAE-based managers
Hanwha Ocean confirms 12 LNG newbuildings linked to QatarEnergy Phase 2 tally now at 52 berths but more Q-Max vessels are expected to raise this to over 60
Experts weigh 'disruptive elements' in countdown to shipping's next EU carbon law FuelEU Maritime is latest shake-up in greenhouse gas reduction measure in shipping's regulatory framework
Panama Canal profits from disruption as tanker owners pay top dollar at drought-hit waterway A drop has been noted so far in 2024, but prices remain higher than historic levels
'Completely unjustifiable': MPC Container Ships boss Constantin Baack brands Red Sea a no-go zone for shipowner Hamburg-based shipowner says it will not go to trouble spot as health and safety crew is more important than anything else
Catalogue of errors blamed for collision between cargo ship and Navigator LPG carrier UK accident report critical of conduct on both vessels following October crash off Denmark
Maran Gas Maritime LNG carrier books in for containment system repairs Vessel is undergoing work on two of its Mark III membrane-type cargo tanks
CMB slams US fund's dual court bid to halt Euronav takeover Saverys family company alleges FourWorld started US action to get its hands on confidential documents for previously undisclosed Belgian lawsuit
Gasum dives in with Nordic Ren-Gas to up its e-methane supplies Renewable fuel can be liquefied and used for maritime transport, energy company says
Narendra Modi waves off first tanker from new $5bn ONGC oilfield Energy company hails 'historic' achievement at Krishna Godavari deepwater block that will boost supply
Atlas scores record three-year charter for modern aframax Owner Leon Patitsas sees Phillips 66 fix a 2023-built aframax at a level and duration nowhere on the record
Catalogue of errors blamed for cargo ship smashing into Navigator LPG carrier UK accident report critical of conduct on both vessels following October collision off Denmark
Mitsui OSK Lines locks away LNG newbuilding to Japanese utility Shipowner says this is eighth deal concluded with Tokyo Gas Co's shipping arm
MSC ship struck by Houthi missiles arrives in Djibouti for damage assessment A fire caused by the strike on MSC Sky II has been put out
Hunter Group bosses grab big slice of new shares in oversubscribed offering Erik Frydendal, Lars Brynildsrud and Sujoy Seal add to holdings in latest deal
Cyber eyes safeguarding shipowners: How digital detectives are infiltrating crime gangs targeting the high seas Being a fly on the dark web means being able to see when shipowner data is up for sale
Narendra Modi waves off first tanker from new $5bn ONGC oil field Energy company hails 'historic' achievement at Krishna Godavari deepwater block that will boost supply
NorthStandard upbeat after S&P Global ratings boost Recently merged P&I club retains its A rating under influential ratings agency's new assessment criteria
Greek shipowner Chemnav ramps up tanker newbuilding programme The company will be taking delivery of three MR tankers in 2025
J Lauritzen eyes fresh investments after hiring new director Industry veteran Anders Bruun will work with company holdings
International S&L plans to scrap panamax bulker, but says no deal done yet Dubai-based company says reports by brokers that a deal has been done are premature
Hunter Group bosses grab big slice of new shares in over-subscribed offering Erik Frydendal, Lars Brynildsrud and Sujoy Seal add to holdings in latest deal
Christian Sveaas turns up the heat on Kjell Inge Rokke in battle for Solstad Offshore Investment firm remains quiet after indicating it was thinking about suing
QatarEnergy strikes 12-strong LNG carrier deal at South Korean shipyard Phase 2 tally now at 52 berths but more Q-Max vessels are expected to raise this to over 60
Twelve-strong LNG carrier MOU confirmed by Hanwha Ocean linked to QatarEnergy Phase 2 tally now at 52 berths but more Q-Max vessels are expected to raise this to over 60
'Tonnage crunch': BRS explains why the world needs more MR1 tankers Niche market could be a nice little earner for those brave enough to contract new vessels
Houthis offer 'safe pass' permits for ships as attacks continue MSC Sky II continues on its voyage after fire put out by crew following twin missile strike
Capesize resale premiums smash 10-year high on bullish dry bulk outlook 2024 has seen a dramatic divergence between resale and newbuilding prices, with resale contracts commanding a notable premium
Private equity backing boosts Idwal's inspection push UK company has been looking at ways to make ship inspections work for shipowners
Hafnia posts record profit for second straight year as it talks up tanker prospects Boss Mikael Skov optimistic about long-term fundamentals beyond Red Sea disruption
Singapore and Australia agree to collaborate on green corridor Tie-up brings together world's largest bunkering port and a key producer of green marine fuels
Infiltrating the dark web to give shipowners peace of mind Being a fly on the dark web means being able to see when shipowner data is up for sale
Philip Shapiro hands reins to next generation of Liberty Maritime leaders Josh Shapiro named chief executive while sister Brooke rises to executive vice president
Stronger charter rates boost profit at resurgent Nam Cheong Malaysian OSV specialist continues gradual recovery on the back of improving offshore market
Eastport Maritime's twist on a Chinese tradition creates monster bash Event draws more than 80 charterers and shipowners from the chemical, vegetable oil, biofuel and gas sectors
The Houthis sank a ship. But their attacks may be less disruptive for now Rates are still high and ships are still rerouting, but global supply chains appear to be adjusting to restricted Red Sea trade.
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