Finnlines RO/RO and RoPax fleets to get XGIT-FUEL hull coatings Grimaldi Group member Finnlines is to apply XGIT-FUEL, an innovative graphene-based hard foul release hull coating, across its RO/RO and RoPax fleets Starting with a first vessel in 2022, Finnlines has already
Pressure grows for Baltic wide ban on scrubber water discharges The pressure for a Baltic wide ban on the discharge of wash water from ships' exhaust gas cleaning systems, or scrubbers, is growing. And advocates of the Baltic ban have hopes that
VIDEO: Key Bridge salvors are tackling a challenge of epic scale New video and imagery released by the unified command show the scale of the challenge that the Key Bridge salvors face. In the current phase if the operation, salvage crews have been
Ocean rates leveling off, but remain elevated on Red Sea impacts Overall, the ocean container market has settled into a new routine that avoids the Red Sea due to Houthi attacks which continued this week. Though significant backlogs, congestion and equipment shortages seen during the first few weeks of the crisis have dissipated, adjustments have resulted in some moderate but ongoing disruptions. Some West Mediterranean ports, for example, are now being used a
Long term rates edge up globally as Red Sea conflict continues to cast uncertainty across the market: Xeneta Ocean freight container carriers are treading a fine line between risk and reward during new contract negotiations as the market remains gripped by uncertainty in the Red Sea, according to new data on the Xeneta Shipping Index (XSI®). The latest data released by Xeneta shows the Global XSI® (the average rate of all valid long-term contracts in the market) remained fairly flat in April at 154.3 po
ZIM renews strategic partnership with ArrowSpot Systems ZIM Shipping Lines has announced the extension of its contract with ArrowSpot Systems, a provider of end-to-end cargo monitoring solutions, for another five years. ArrowSpot's 24/7 control center is now an integral part of ZIMonitor service, which offers proactive remote tracking, monitoring, and control for reefer containers carrying sensitive, high-value cargo. ZIMonitor is powered by ArroWatch
Hapag-Lloyd partners with IKEA for cleaner shipping Hapag-Lloyd and IKEA Supply Chain Operations have entered into a cooperation to decarbonise container shipments from Asia. From March 2024 until February 2025, both companies have agreed to use Hapag-Lloyd's highest product option for biofuels "Ship Green 100", which relies on waste- and residue-based biofuel instead of conventional marine fuel oil. The expected result for IKEA during this period
Rotterdam to improve logistics security Before 1 July 2024, the leading container shipping lines and ship agents in Rotterdam will ensure that all customers with container cargo from North America are integrated into the Secure Chain. After this date, they will cease issuing PIN codes to this customer group. Import containers will exclusively be released through the Secure Chain, ensuring both security and reliability. This protocol ha
Sapura and Paratus JV lands $1.8bn PLSV contract with Petrobras Seabras Sapura, a Brazilian joint venture between Malaysian offshore player Sapura Energy and Paratus Energy Services, has secured contracts with Petrobras for a full fleet of six pipelay support vessels. The contracts worth $1.8bn are for three years, starting on different mobilisation dates according to each of the PLSVs, with the longest dated contract going ...
Performance Shipping expands orderbook with LR1 tanker in China Greek tanker owner Performance Shipping is expanding its fleet with a fourth newbuild in China. The Nasdaq-listed company has contracted Jiangsu Yangzijiang Shipbuilding Group for a single LR1 chemical/product carrier, adding to its orderbook of three 114,000 dwt LNG-ready LR2 tankers booked at CSSC-affiliated Shanghai Waigaoqiao Shipbuilding. The 75,000 dwt ship, costing around $54.1m excluding
Avance Gas extends VLGC deal by one year Oslo-listed very large gas carrier (VLGC) specialist Avance Gas has extended the variable time charter for one of its vessels. Avance Gas said that the charter for the 2015-VLGC Chinook which was supposed to expire in July 2024 would be extended by one year. According to the company, the end of the extended deal with ...
London P&I Club takes NorthStandard man as new CEO The London P&I Club has announced that Ian Gooch will be stepping down from the role of chief executive officer after 15 years as CEO and 21 years as a director of A Bilbrough & Co, the company that manages the Club. Ian Gooch will be succeeded by James Bean who will be arriving from ...
Shipping making billions by using scrubbers to run on heavy fuel oil, study claims Emissions from scrubber discharge have caused pollution to the Baltic Sea corresponding to socio-economic costs of more than EUR 680m ($732m) between 2014 and 2022, according to a new study. A new study from the Chalmers University of Technology in Sweden showed that the shipping companies' investments in the much-discussed technology, where exhaust gases are ...
Vintage capes find new owners In dry, the capesize market stands out with a string of transactions, with vintage capes being the primary target for buyers of secondhand bulker tonnage. Prices are firming as rates are again on the rise. Five capes between 15 and 20 years of age were sold in the last 10 days. Last week saw OceanPal, ...
Noble gets extension for UK jackup New York and Copenhagen-listed offshore rig owner Noble Corporation has secured more work with BP for its 2003-built jackup rig Noble Innovator. The UK supermajor has exercised an option to add one well to the work scope of the ultra-harsh environment unit operating in the UK sector of the North Sea. The contract extension kicks ...
Sohmen-Pao to spin off oil and gas business Singapore maritime conglomerate BW Group is separating its offshore oil and gas company BW Energy from its shipping businesses as part of a corporate restructuring. The Andreas Sohmen-Pao-led Group owns nearly 75% of BW Energy following a mandatory offer to purchase shares from its FPSO specialist BW Offshore. The spinoff will not involve any change ...
TotalEnergies taps Wood for UK North Sea decarbonisation work UK engineering firm Wood has been awarded a new decarbonisation contract by TotalEnergies' UK arm to support flare gas recovery in the North Sea. The 23-month contract, part of the Elgin-Franklin Flare Gas Recovery System Project, follows Wood's successful completion of a field study and front-end engineering design and includes the coordination of operations, procurement, ...
Senegal's O3S orders Incat Crowther-designed FSV from Penguin Marine engineering company Incat Crowther and Singapore shipbuilder Penguin International have been hired to design and construct a new 36-metre fast supply vessel (FSV) for O3S - Oil Senegal Support Services The new vessel will be capable of transporting 28 service personnel as well as 20 tonnes of cargo at speeds of up to 33.5 ...
45-year-old livestock carrier barred from entering Ireland A 1979-built livestock carrier has entered the Mediterranean, cruising aimlessly around southern Europe, awaiting new orders having been barred from entering Ireland. The Sarah M was due to arrive at Greenore port on Ireland's northeast coast on April 30 to collect cattle for export. However, the ship had recently been classed with the Russian Maritime ...
Massive floods cause chaos in southern Brazil Floods that have killed at least 85 people in Brazil's Rio Grande do Sul have completely halted operations in three ports as well as put a stop to nearly all logistical operations in the state. According to the Civil Defense of Rio Grande do Sul, over 130 others are still missing, over 19,000 people have ...
ITF highlights Bulgarian 'ship of shame' The International Transport Workers Federation (the ITF) continues to identify shocking cases of crew mistreatment, wage theft, and deplorable conditions aboard ships operating in Australian waters, with the latest example in Mackay Harbour involving the Eleen Sofia, run by Ellen Marine from Bulgaria. The 2008-built supramax is currently under arrest by the Australian Border Force ...
Regulating the 'staggering' shadow fleet too fast could cause global economic shock To unwind the shadow fleet of tankers too quickly could cause a severe global economic shock, a new report has warned. The grey tanker fleet - as tracked by brokers BRS - has grown in size by 17% this year to number 787 units, equivalent to 8.5% of total tanker capacity. With more large ships ...
Influential report suggests seaborne trade volumes are set for significant decline A new report by analysts at influential Danish Ship Finance will make for uneasy reading for shipowners and shipbuilders alike, suggesting that seaborne trades will decline through to 2050 and the age-old correlation with global GDP growth is increasingly redundant. "Throughout history, seaborne trade volumes have increased in parallel with global economic growth. This long-standing ...
DP World buys Laos dry port operator Terminal operator DP World has completed the acquisition of Savan Logistics which operates the Savannakhet dry port in Laos, in the country's first special economic zone. Situated on the west end of the 1,450km-long East-West Economic Corridor - linking Laos, Cambodia, Myanmar, Thailand, and Vietnam - the 140,456 sq m dry port is utilised by ...
The economic and commodities outlook from Geneva As metaphors go to highlight today's tortuous trading environment, the fact that the Economic and Commodities Outlook session kicked off Friday's Geneva Dry conference with an empty seat on stage was rather apt - Shamika Sirimanne, director of the UN Trade and Development's division on technology and logistics, was snarled up in traffic just outside ...
Widening arbitrage fuels VLGC rate recovery from winter lows The propane price differential between the US and Asia continues to widen, a boon for VLGC freight rates. However, analysts...
Shipping's crystal ball: The low-demand, low-rate, high-cost 2050 scenario Danish Ship Finance believes structurally declining demand and continued high newbuilding costs will force shipping to embrace more long-term contracts...
EU tentatively targets Russian LNG Latest round of EU sanctions will target LNG transhipment operations, but will stop short of restricting Russian gas imports amid...
Namibia's Walvis Bay could become key green bunkering hub The project will export ammonia to Europe alongside acting as a green bunkering hub, which Port of Antwerp-Bruges International chief...
Houthis' east Mediterranean threat should be taken with pinch of salt Attacks have so far been concentrated in the southern Red Sea and Gulf of Aden. Accurately targeting vessels far away...
Evergreen markets 25-year-old boxships for HKC recycling Evergreen is marketing a 1999-built, post-panamax and a 1,164 teu containership for Hong Kong Convention recycling sale. Evergreen's last ships...
Shipping missing out on greater efficiency gains Danish Ship Finance once again called for a voyage performance index, as the bank suggests the industry is missing out...
Baltic Sea scrubber pollution cost society €680m, study estimates Researchers in Sweden estimated the cost of marine ecotoxicity damage from the discharge of scrubber water in the Baltic Sea...
Baltimore casualty may top pool scheme coverage limit, Gallagher warns Next year's P&I general increases expected in line with inflation, but Dali incident could have lasting impact on reinsurance levy
The week in newbuildings: Top-tier containership operators plan more orders Evergreen and Cosco are said to be at advanced stages in ordering additional containership newbuildings in China
Brazil's Porto Alegre port underwater Floods and landslides have killed 55 people in the state of Rio Grande do Sul, Brazil, as well as closing...
Week in charts: Colombo cashes in on Red Sea rerouting | Neopanamax locks' thirst for fresh water | Iran's oil exports robust in April but sanctions may yet bite Colombo is benefiting from disruption in the Red Sea at the expense of ports in Saudi Arabia, a study has...
Maersk justifies more rate hikes amid analyst doubt on Asia-Europe capacity loss While tensions in the Middle East remain unresolved, carriers are pushing for a new round of freight rate increases
Fortescue completes ammonia-powered sea trial in Singapore FFI Green Pioneer concluded a fuel trial in March, representing the first-ever ammonia bunkering operation
Bosporus Strait closed as bulk carrier runs aground One of the world's busiest shipping channels is closed to traffic in both directions after a 81,623 dwt bulk carrier...
Daily Briefing Guyana raises rogue registry warning as sanctioned tankers falsely fly its flag | MSC fires back at FMCs astonishing and...
ITF calls out Dubai tug operator for 'worst case of serial seafarer abandonment ever seen' Amid an alarming rise in seafarer abandonment cases, the ITF is accusing Dubai tug operator Middle East Marine of 'systemic...
Union Pacific wants changes to rail crew rules linked to border crossings US rail unions have opposed measures that would allow Mexican crews to take trains across the border because they are reluctant to relinquish jurisdiction on transits within southern Texas.
Tepid US consumer confidence keeping clothing imports on the rack Clothing imports are rebounding in 2024, but retailers will likely wait for clear signs of demand growth to bring in additional product after a double-digit percentage drop last year.
Lower ocean, air rates weigh on DHL Global Forwarding despite volume growth Group CFO Melanie Kreis would not comment on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea.
Outlook for US freight economy remains cloudy despite early import surge A rise in US imports is fueling optimism, especially among ocean carriers, but manufacturing's malaise is tempering hopes for a broader transportation recovery.
CMA CGM turns to tech provider to boost invoice accuracy for key accounts The auditing initiative between the carrier and software vendor OpenEnvoy was kickstarted by CMA CGM's ZEBOX technology incubator, which connects startups with entrenched logistics partners.
Odfjell delivers profit record that it expects to break in the second quarter Chemical tanker operator benefits from tighter market after Red Sea diversions
Capesize market reach a six-week high as rates rocket in the Atlantic Market is back in full swing after the Orthodox Easter holiday
Tailwind snaps up third chemical tanker from Transportation Recovery Fund Stainless steel vessel reportedly changes hands for $32.5m
All change as FSRUs shift around to boost Germany's import capacity One regas unit is moving to new location as another limbers up to begin work
Mols Linjen turns to Swedish battery maker in electrification push Danish ferry group continues roll out of efforts to electrify fleet
All change in Germany as FSRUs shift around to boost country's import capacity One regas unit starts move to new location as another limbers up to start work
Owners of Houthi-hijacked car carrier demand release of 'forgotten' crew Vessel has been held since start of military campaign against shipping six months ago
Greece's Performance Shipping adds LR1 tanker to newbuilding slate Product carrier size is less popular than the bigger LR2s, but order numbers are ticking up
Klaveness Combination Carriers sees product tankers weakened by unwinding of Red Sea disruption next year But Norwegian company believes support could come from a stronger crude vessel sector
Product tanker orderbook at highest level for eight years, Greek broker says Xclusiv figures also show bulker ratio topping 9% against existing fleet
KCC sees product tankers weakened by unwinding of Red Sea disruption next year But Norwegian combination carrier company believes support could come from a stronger crude vessel sector
Viking Line and Gasum test customer pays model for bio-LNG Passengers are buying into initiative but it may take longer for freight to sell concept to their clients
NYK begins turning old cargo lashing belts into low-carbon fuel Japanese owner will recycle out-of-date cargo equipment into greener bunkers
Oil company bosses cleared in tanker pollution case linked to Iranian crude Supreme Court finds there was no crime related to waste handling in Quintero in 2018
'Green shipping on demand': Viking Line and Gasum roll out bio-LNG pay-as-you-go charges Passengers are buying into initiative but it may take longer for freight to sell concept to their clients
Maersk expects 20% capacity loss on Asia-Europe route in second quarter due to Red Sea crisis Danish shipowner says disruptions have caused ripple effects across other container freight routes
Philly Shipyard looking at Hyundai Heavy Industries tie-up as US Navy turns to Asia for fresh yard capacity Aker Capital yard has worked with the South Korean builder before
CargoMetrics keeps the train moving with environmental product rollouts Boston firm unveils two offerings designed to measure vessel carbon output, alongside one specifically tailored for the EU's Emissions Trading System
Key player in NorthStandard merger jumps ship to become new boss of London Club Bean takes over from departing CEO Ian Gooch later this year
Targeting 'enormous' tanker shadow fleet with fresh sanctions could spark global economic shock 'Staggering' size of growing fleet running sanctioned oil cargoes poses tough choices for regulators
ESL Shipping falls to loss as port strikes and bulker sale impairments take toll Volumes shrink for Baltic Sea specialist due to exceptionally harsh winter
First known ship transfer of Russian oil spotted in Red Sea waters Bloomberg tracked two vessels involved in export of crude to India
Two shipping lawyers among seven partner promotions at Watson Farley & Williams Valerie Lee and Dora Ying step up the legal ladder at UK-headquartered firm
WinGD's confirmed ammonia dual-fuel engine orderbook reaches 10 with latest win AET tanker pair represents first 62-bore orders for engine maker
Master reports double blast close to ship off Aden Houthis have launched drones and missiles for six months in support of Palestinians in Gaza
Peter Dohle heirs snap up shares in London-listed shipbroker Braemar Filing reveals German clan's Minna Invest has taken 3% stake
Avenir LNG inks charter deal on first of two fresh newbuildings Second vessel is 'speculative' play as demand shortfall for LNG bunker vessels looms
'Loitering' Russian-trading tankers poised to return to oil transfer hotspot after Greek navy disruption Broker BRS says halting ship-to-ship transfers is likely only temporary
Andi Case's pay packet hits the headlines as Clarksons pay vote looms Mainstream media sitting up and taking notice ahead of latest crucial vote on remuneration policy
Video shorts and whistleblowing apps: How tanker owner Ardmore is focusing on safety tech Irish tanker owner using MarinePALS micro-video and a safety reporting app to ensure safety does not get boring
Product tanker orderbook at highest level for eight years, Greek broker says Xclusiv figures also show bulker ratio topping 9% against existing fleet
'Loitering' Russian-trading tankers ready to return after Greek naval exercises Broker BRS says halting of ship-to-ship transfers is likely only temporary
Tanker strength drives rates to record level at Klaveness Combination Carriers Norwegian owner will keep operating majority of Cleanbu capacity in wet markets
Precious Shipping banks near five-fold increase in first-quarter profit Thai shipowner confirms one of its vessels was stranded in Baltimore by bridge collapse
Proxy firms line up against Clarksons in pay vote as Andi Case's pay packet hits the headlines Mainstream media sitting up and taking notice ahead of latest crucial vote on remuneration policy
Vasilis Bacolitsas-led Sea Pioneer doubles MR tanker newbuilding orders Greek shipowner has quartet on order at K Shipbuilding
Aloha Air Cargo to cease Los Angeles-Honolulu freighter service Aloha Air Cargo has decided to close its Los Angeles-Honolulu lane, effective June 1, because of weak demand, FreightWaves has learned. The route is marketed by Aloha, which signs customers [...]
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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