GD Electric Boat gets $1.3 billion Virginia-class contract mod In good news for the submarine industrial base, Groton, Conn.- headquartered General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it has been awarded a $1.3 billion
MOL plans to build LNG carrier with Wind Challenger sails Japan's Mitsui O.S.K. Lines, Ltd. (MOL) is planning to build a 174,000 cubic meter LNG carrier fitted with Wind Challenger sails and has now received an Approval in Principle (AiP) from ClassNK
African Development Bank funds US$135 million to Comoros The Board of Directors of the African Development Bank Group has approved a US$135 million funding package for the Union of the Comoros, marking its largest-ever investment in the Indian Ocean archipelago. This funding aims to support a significant maritime and regional trade initiative. The Maritime Corridor and Regional Trade Facilitation Project (PACMFCR) will focus on extending and modernizin
Effective Ways to Improve Community Health and Wellness Community health and wellness play a pivotal role in the overall well-being and quality of life of any society. Addressing health at the community level involves a holistic approach, encompassing not just medical interventions but also educational programs, environmental improvements, and policies that support healthy lifestyles. To effectively enhance community health, it is essential to adopt s
Why is the UK Scale-up Visa One Of The Best Options to Recruit Staff For Container Companies?: The Main Pros The United Kingdom is experiencing a skills shortage across different industries that could impact the country's economic growth. However, UK-based container businesses that are growing rapidly but struggling to find skilled staff can hire international talent with the UK Scale-up Visa . The UK ports industry, where the container shipping business is domiciled, is one of the largest in Europe, an
New China-Philippines service calls at Mindanao Container Terminal The Philippines' Mindanao Container Terminal (MCT), operated by International Container Terminal Services Inc. (ICTSI), recently received the inaugural call of SITC's new China-Philippines Express 7 (CXP7) service. This new service addresses the growing export volume of fresh produce such as pineapples and bananas from Bukidnon, offering exporters in Mindanao a transportation solution, and improv
DP World selects Pledge for carbon cutting metrics DP World has selected Pledge to accurately measure the impact of its Modal Shift Programme (MSP), which financially incentivises cargo owners to switch from road to rail for freight transport from the Port of Southampton to railheads within a radius of 140 miles. The programme also aims to address the current under-utilisation of the United Kingdom's rail freight network. DP World aims for 40% ra
IMO unveils 'insider threat' toolkit to strengthen maritime security International Maritime Organization (IMO) has introduced a new toolkit designed to enhance the maritime industry's ability to tackle evolving 'insider threats', referring to risks posed by maritime employees who might be involved in or facilitate security incidents due to ignorance, complacency, or malicious intent. For terrorists and organized crime groups seeking to exploit security weaknesses
Futures show more downside to freight rates in 2025 Shanghai container futures trades suggest that Asia-Europe freight rates could fall further in 2025, after appearing to have peaked now. On 5 August, the index points of the EC2408 (August contract) closed at 5,627, while the EC2410 (October contract) closed at 3,585 points, losing 3% and 9%, respectively, from 29 July. The EC2504 (April 2025 contract) stood at 1,961 points, while the EC2506 (Jun
New Orleans announces major progress on key infrastructure projects The New Orleans Public Belt Railroad (NOPB) has announced significant progress on two key infrastructure enhancement projects: the Transloading Industrial Park and the Claiborne Yard expansion. Located off Jourdan Road in New Orleans East, the NOPB Transloading Industrial Park will facilitate more efficient freight movement between truck and rail into America's heartland. In addition, owned by th
CMA CGM revises Med-US rates CMA CGM has announced that effective from 1 September 2024, a rate restoration initiative will be introduced to tariff or service contract rates for all cargo under the following scope. This initiative will apply to shipments from/via La Spezia (Italy), Adriatic, Black Sea, Cyprus, Greece, Türkiye, Lebanon, North Africa and Morocco to the US East Coast, US Gulf and all inland destinations reached
GB Railfreight launches new intra-UK rail service Major UK rail freight provider GB Railfreight (GBRf) has launched an intra-UK daily rail service between the Port of Felixstowe and Widnes. Port of Felixstowe is the largest container port in the United Kingdom, while it also has the country's busiest intermodal rail freight facility with services to 17 inland destinations. The port has three rail freight terminals and tries to help cut supply ch
Japan's export and import Q2 indices show gradual improvement, still in negative territory Japan's exports and imports remained in negative territory in the second quarter of the year, but showed improvement compared to the previous quarter, according to a survey by NX Logistics Research Institute and Consulting. The Tokyo-based think tank, affiliated with the Nippon Express (NX) group, anticipates similar trends for the third quarter, with continued negative figures but further improv
Port of Tanjung Pelepas sets record with over 1.1 million TEUs in July In July, Port of Tanjung Pelepas (PTP), operated by MMC Group and APM Terminals, has set a new milestone by handling 1,115,181 TEUs in a single month. This achievement surpasses the port's previous record of 1,077,747 TEUs set in May this year. "Our ability to achieve this record-breaking performance without any congestion solidifies PTP's role as an indispensable link in the global supply chains
COSCO SHIPPING issues first flat rack e-bill of lading for vehicle customer COSCO SHIPPING Specialized Carriers announced the successful issuance of its first flat rack Electronic Bill of Lading from China to Mexico for its customer ChanganAutomobile. "This milestone marks a significant step forward in the digitization of the shipping industry," pointed out COSCO. Last week, COSCO SHIPPING Grace transported vehicles using flat racks that were designed and manufactured by
Hapag-Lloyd introduces new PSS from Egypt to Americas Hamburg-based ocean carrier Hapag-Lloyd announced that a Peak Season Surcharge (PSS) will be implemented for shipments from Egypt to Central America, the Caribbean, and the West Coast of South America. This surcharge will be effective from 20 August 2024 and will remain in place until further notice. For regulated countries (Colombia, Ecuador, Puerto Rico, US Virgin Islands), the surcharge will b
Kronospan acquires major cargo terminal at Port of Riga In early July, SIA Kronospan Riga, a subsidiary of the Kronospan Group, a wood-based panel manufacturing company, acquired KS Terminal, the fourth-largest cargo terminal in the Port of Riga. This acquisition establishes SIA Kronospan Riga as the sole shareholder of KS Terminal, enhancing its operations in Northern Europe and creating strategic growth opportunities for the Latvian terminal. By lat
University of Miami researcher to power cargo vessels with 'windfall' technology A University of Miami researcher is developing wind-powered cylinders aiming to propel existing cargo ships, lessening the shipping industry's dependence on fossil fuels and cutting greenhouse gas emissions. "What's old is new again," claims GeCheng Zha, a professor of aerospace engineering and director of the Aerodynamics and Computational Fluid Dynamics Lab at the University of Miami College of
CMA CGM updates peak season surcharge from Spain Med ports to Latin America CMA CGM announced that effective from 24 August until further notice, its peak season surcharge (PSS) from Spain Mediterranean Ports to West Coast of South America, West Coast of Central America, Mexico, East Coast of Central America and Caribbean will be updated. The surcharge from the French ocean carrier, which is applicable on short term contracts only, will now be €375 (US$410) per dry conta
Bulker owner United Maritime branches out into offshore sector with newbuild investment Nasdaq-listed Greek bulker owner United Maritime has marked its entry into the offshore support segment with an investment in newbuild energy construction vessel (ECV). The Stamatis Tsantanis-led spinoff of Seanergy Maritime has acquired a minority stake in a Norwegian-based vehicle that will see the ECV earmarked for offshore wind and subsea markets delivered in the ...
Sea1 Offshore taking Viking Supply Ships AHTS fleet under management Norwegian offshore vessel operator Sea1 Offshore has announced it would be signing management agreements for all six anchor handler vessels owned by Viking Supply Ships. Viking Supply Ships currently owns the Magne Viking, Odin Viking, Loke Viking, Njord Viking, Brage Viking, and Andreas Viking AHTS vessels The company believes that the transfer of the vessel ...
Taiwan awards 2.7GW to five projects in latest offshore wind round Taiwan's Ministry of Economic Affairs (MOEA) has revealed the winners of the latest offshore wind tender round which were awarded 2.7 GW in total generation capacity. The country's authorities revealed that five projects were among the winners of the offshore wind auction, named Round 3.2. The chosen projects were Shinfox's 700MW Youde, Synera Renewable Energy's ...
Tokyo Gas invests in floating wind farm off Portugal Japan's natural gas provider Tokyo Gas has made an investment in the WindFloat Atlantic operational floating offshore wind farm in Portugal. The wind farm is operated by Windplus, a majority-owned subsidiary of Ocean Winds. This investment is a new collaboration between Tokyo Gas and Ocean Winds, who are already co-shareholders of Principle Power, a floating ...
GasLog Partners readies LNG carrier sale and leaseback deal GasLog Partners is set to strike a sale and leaseback deal for one of its tri-fuel diesel-electric (TFDE) LNG carriers. The Peter Livanos-controlled company said in its second-quarter earnings release, it had been pursuing an agreement for an unnamed vessel, without disclosing further details. "While no definitive agreement has yet been reached, the agreement is ...
Supply chain chaos grips Bangladesh in wake of PM's resignation Supply chain chaos across Bangladesh, the world's third-largest exporter of clothing, has created the longest berthing delays anywhere across the globe. Some 50 ships are queuing in a 25 nautical mile stretch outside Chattogram port (see map below) following weeks of protests, curfews, internet outages, all of which culminated yesterday in the resignation of Sheikh ...
Precious Shipping eyes further sales of ageing bulker tonnage Precious Shipping is looking to offload more vintage tonnage as fleet renewal push at the Thai dry bulk player presses ahead. "We hope to sell a few more of our older, smaller handy sizes, as well as a few non-eco engine supramaxes, during the second half of this year," the Khalid Hashim-led listed owner said ...
COSCO Shipping orders four asphalt carriers for $98m China's COSCO Shipping Specialized Carriers has ordered four 9,000-tonne special liquid cargo ships at Mawei Shipyard, a subsidiary of Fujian Shipbuilding. These four vessels were ordered through its Hong Kong-based wholly-owned subsidiary COSCO Shipping Investment Development and will be used for asphalt transport. The total investment is around $98m while the price of a single ...
Fredriksen firms up Dalian VLCC brace John Fredriksen's Seatankers Management has added to its VLCC newbuilding series in China, with two options called at Dalian Shipbuilding Industry Co (DSIC). The order follows on from six firm 307,000 dwt scrubber-fitted tankers at $120m each, with slots secured for an additional pair, which has now been firmed up. The eight newbuilds are slated ...
Car carrier hit by massive fire a year ago readies for new life in China A year on from a devastating fire which killed one crewmember, the car carrier formerly known as Fremantle Highway is being prepped to head from The Netherlands to new owners in China. Dutch authorities have reversed an earlier decision, which had denied current owner Koole Contractors an export permit as the ship - now renamed ...
Wison New Energies to build another construction yard in China Wison New Energies and the Qidong municipal government of China's Jiangsu province have signed an investment agreement to construct the company's new yard for offshore facilities. The yard, which will be built in the Qidong Lusi Port Economic Development Zone, is some 98 km from the company's Shanghai headquarters and only 85 km away from ...
Oceaneering wins Aker BP contract Oilfield services provider Oceaneering has secured an inspection, maintenance, and repair (IMR) support services contract with Norwegian operator Aker BP. The Houston-based outfit's Norwegian subsidiary will be in charge of the contract set to last up to seven years, if all options are called. The initial three-year firm period will see Oceaneering mobilise in August ...
Three seafarers held by the Houthis for the past 261 days hit by malaria The Philippines' Department of Migrant Workers is busy working to free crew held in the Middle East with news that some of the seafarers held there have been suffering from malaria. Iran has seized a number of ships passing through the Strait of Hormuz in the past year with many crew held for months. The ...
University of Miami professor seeks funding for new form of wind propulsion A researcher from the University of Miami College of Engineering is seeking funding to build a prototype of a new form of wind propulsion for ships. GeCheng Zha, a professor of aerospace engineering and director of the Aerodynamics and Computational Fluid Dynamics Lab, has developed nonrotating cylinders, developed with co-flow jet technology similar to what ...
United Maritime diversifies with offshore newbuilding stake Dry bulk 'momentum' helps Nasdaq-listed company return to black in second quarter
Ukraine calls on governments to help investigate Russian grain smuggling Ukraine calls on International Maritime Organization member states to help investigate Russia's expanding and evolving Crimea export operations, which now...
Euroseas posts best quarter in recent years With a newbuilding programme winding towards a close, the company is evaluating further investment opportunities
Show us where the biofuels are, IMO told The IMO should share information on GISIS on where biofuels can be bought to help the owners find lower-carbon options...
Arctic Council 'virtually meaningless without Russia': LMA's Roberts Neil Roberts, the head of marine and aviation at the Lloyd's Market Association, describes the insurance sector's view of a...
Seanergy buys another capesize after record second quarter Greek owner sees continuing market strength based on low orderbook
Danaos increases backlog to $3.2bn as charterers 'rush' to secure boxships Dry bulk diversification contributes to Greek owner's revenues and bottom line, partly compensating for slight dip from containerships
Höegh Autoliners calls for green shipping regulatory support upon receiving first ammonia-ready newbuild Höegh Autoliners' chief operating officer Sebjorn Dahl tells Lloyd's List he is not worried about securing sufficient clean ammonia to...
Containership charter rates plateau during 'lazy' period Despite the seasonal lull, charter rates are displaying resilience across most size segments, says Braemar
Cosco Shipping Specialised Carriers orders four asphalt tankers at Fujian Mawei With an ageing fleet and strong tonne-mile growth, asphalt shipping has seen rising rates, the company said, noting that high-margin...
'Nonsensical results'; states slam Unctad over IMO carbon price report Unctad defended its findings pointing to relatively lower GDP impact from scenarios including a global shipping levy
Seoul taps Indonesia manpower to fill shipbuilding jobs amid worker shortage With the establishment of the manpower centre in Indonesia, local workers will receive training in Korean language and shipbuilding technology...
Daily Briefing Russia's once grand Arctic LNG project limps towards a dark fleet start-up | Shipping shares fall sharply amid widespread Wall...
Port of Virginia launches expanded rail yard at Norfolk International Terminals The $83 million project, which took two years to complete, adds another 455,000 TEUs of annual on-dock rail capacity at NIT.
STG shifting from drayage carrier to broker after New Jersey legal challenge The intermodal logistics provider said it will change its business model as state and federal laws make it more difficult to classify drivers as independent contractors.
Transload demand from Southern California expected to pop in Q3: analyst The percentage of import TEUs arriving in Los Angeles and Long Beach and departing as domestic transloads should rise significantly in the third quarter, analyst Larry Gross says.
US truckload carriers cutting deeper into fleets, capacity Large truckload providers have been jettisoning trucks at an historic pace in an imbalanced market, but they are making more efficient use of their remaining trucks.
Bangladesh's supply chains grind to a halt amid political upheaval The crisis has surfaced on the heels of recent capacity expansions from major liners, particularly Maersk and Mediterranean Shipping Co., to tap booming apparel exports and associated input material inflows from China.
NS implementing reservation system for container drop-offs from Sept. 4 Norfolk Southern believes a mandatory reservation system for trucking companies bringing containers into its terminals will improve fluidity and prevent congestion from building.
Asset management titan adds Braemar to UK companies fund and builds 5% stake Moves give Schroders the fourth largest stake in UK shipbroker
Maritime charity commits long-term funding to support Ukrainian seafarers Baltic Exchange Charitable Foundation and UK P&I Club step up to provide urgent financial support
US shipping stocks start rebound as broader markets embrace 'Turnaround Tuesday' A recovery likely was to be expected, but market is still seeking direction
Seanergy and spin-off United Maritime land $93m in finance for five bulkers Leases and loan backed by three capesize bulkers and two panamaxes
Danaos puts newbuilding orders on hold with the world 'not at its best' After booking 20 newbuildings worth about $1.8bn over the past two years, John Coustas takes a breather
Euroseas posts highest profit in years on strong container markets and ship sale US-listed boxship owner looks forward to interest rate cuts to keep the global container trade humming
Christen Sveaas consolidates offshore vessel management in cost-cutting move Agreement brings together two Kistefos-controlled companies
United Maritime pivots to offshore sector as it snaps up a stake in energy construction vessel Greek owner is also chartering in an aframax tanker
Tanker market given little room to run as Middle East continues to simmer Freight rates rose and have stayed high following Houthi attacks
United Maritime pivots to offshore sector as it snaps up energy construction vessel Greek owner is also chartering in an aframax tanker
Corrupt shipping insiders under pressure as IMO pledges tough action Regulator lists series of tactics to root out bad actors within shipping companies
Capesize owner Seanergy hikes dividend payment after best second quarter in its history Pure-play owner of large bulkers benefits from higher charter rates on its vessels
Petrobras shipping wing Transpetro moves forward on 25-vessel newbuilding haul LPG carriers and MR tankers are on the menu for Petrobras shipping arm
Exceptional profit for car carrier owners can't last forever, says Hoegh Autoliners chief Tariffs and newbuilding deliveries will take their toll on the vessels' six-figure rates, he said
Tanker market given little room to run as Middle East continues to run hot Freight rates rose and have stayed high following Houthi attacks
SeaLead hires ex-Hanjin boss to drive transpacific push New investors continue management shake-up at fast-growing liner
Insurance costs for energy carriers fall as competition intensifies Baltic measure of daily insurance costs shows year-on-year decline for tankers and gas carriers
QatarEnergy eyes extra $5bn hit of LNG carrier newbuildings Chinese and South Korean yards in line up for supersize and conventional tonnage
Shipping shares spring back after global stock market shock Asian and European equities show signs of life after historic selldown on Monday
Singapore's Golden Pacific sells product tanker to Middle East interests Bravely Sincerity is the latest of nearly 200 small clean tankers transacted in this year's hot sales market
Elite Tankship strikes $18.9m newbuild tanker charter with Glencore's ST Shipping Singapore-based operator has taken LR2 on long-term charter for 12 months
Israel slaps first-ever shipping sanctions on Iran's dark tankers as tensions soar Measures target tankers said to be involved in the secret fundraising operation for militant groups
Danaos adds single boxship newbuilding to $1.8bn fleet expansion plan John Coustas-led company secures five-year charters for a dozen newbuildings fetching up to $50,000 per day
Shipbroker SSY hires new alternative fuel chief in low-carbon projects push Decarbonisation expert joins from Wartsila
Cosco Shipping orders four newbuildings worth $98m Shanghai-listed company projects it can recover the newbuildings investments within 12 years
Greek anti-drugs officers seize cocaine hidden in container ship banana cargo Seizure from refrigerated containere follows joint operation with US authorities
LNG bunker vessel smash could have proved fatal. Here's why and what we can learn Design review of tank locations needed for collision impact
Fujian Highton Development breaks into kamsarmax bulker segment with Wilmar trio Bulker company acquired three Chinese-built 82,000-dwt vessels from Wilmar for $57.3m
Clarksons eyes 'quick' and 'nimble' growth backed by huge cash pile Andi Case and Jeff Woyda weigh up how Clarksons might set cash resources to work
Flow of senior seafarers taking land-based jobs drying up, says Bureau Veritas New skills needed to promote shipping's green drive, says classification society
Singapore's Golden Pacific sells product tanker to Middle East interests Bravely Sincerity is the latest of nearly 200 small clean tankers transacted in this year's hot sales market
Precious Shipping looks to offload more surplus tonnage as profit surges Thai bulker owner says supply-demand balance is likely to mean market volatility
Firm prices favour Fortune Ocean Shipping bulk carrier sales Brokers remarked on 'notably firm' price for the kamsarmax
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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