DPIIT signs MoU with NCAER for developing detailed framework for assessment of logistics cost in India
Guidelines for verification under CAROTAR 2020, of the Country of Origin Certificates (COO) issued under various Preferential Trade Agreements (commenly also referred to as Free Trade Agreements-FTAs)
Transpac to NAWC sees reliability improvement
DGTR initiates anti-dumping probe into import of Chinese lift guide rails
Implementation of Sea Cargo Manifest & Transshipment Regulations extended
Tea exports up 33.29 pc in 2024
DCIL wins INR 156 cr. order from Cochin Port
Dynamics of Awards under Art. 13 and 14 of 1989 Salvage Convention and SCOPIC
Baltic Exchange Market Report (5 July 2024)
Rice exporters feel the heat amid container shortage
Hornblower Group completes its restructuring Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reported on July 3 that it has successfully completed its financial
US CBP approves Indiana's first container port for Chicago metropolitan area US Customs and Border Protection (CBP) has approved Ports of Indiana-Burns Harbor's proposal to establish the first international sea cargo container terminal on Lake Michigan. According to a statement, this would create the only all-water container route for ocean vessels to serve the greater Chicago metropolitan area via the Great Lakes. The Burns Harbor terminal, located in northwest Indiana w
BTP restores berth operations ahead of schedule Brasil Terminal Portuário (BTP) has announced the reopening of cargo loading and unloading operations at its Berth 1. This follows the successful completion of a challenging engineering project, completed in under five months. Earlier this year, on 19 January, BTP had temporarily suspended container movement at Berth 1 due to a mooring line incident involving a docked vessel. According to BTP CEO
Piraeus Port Authority reports strong revenues and profits in 2023 Piraeus Port Authority (PPA) has announced the successful completion of its Annual General Meeting of shareholders held on 4 July 2024 via teleconference. All agenda items received majority approval, including the Annual Financial Statements and the Dividend Distribution for fiscal year 2023 (covering 1 January 2023, to 31 December 2023). The proposed gross dividend amount of €1.34 per share, rec
Container port snarls now nearing Covid highs Global container port congestion is now around 9 million TEU, close to the peak of 9.6 million TEU seen during the Covid-19 pandemic, according to a Clarksons report. The world's largest shipbroker said in a report that the Red Sea crisis, which has seen container vessels detouring round the Cape of Good Hope, has added circa 12% to TEU-mile demand. Clarksons analyst Trevor Crowe wrote: "It has b
Yang Ming starts sustainable biofuel initiative for net-zero by 2050 Starting this year, Yang Ming Marine Transport Corporation has begun fuelling its fleet with sustainable biofuel, a step towards its sustainable development strategy, achieving net-zero emissions by 2050, and offering low-carbon transportation services to its customers. Furthermore, the 11,000 TEU container ship YM Together recently became the first foreign-flagged vessel to bunker biofuel in Sou
DP World and Zhejiang Seaport forge partnership to enhance Dubai-China routes DP World and Zhejiang Seaport Group have announced a new partnership aimed at enhancing port logistics and shipping routes between Jebel Ali Port in Dubai and Ningbo-Zhoushan Port in China. "We are pleased to sign this agreement with Zhejiang Seaport Group. This strategic collaboration aligns with our vision of expanding our presence in China and working with like-minded partners to strengthen tr
Maersk announces updates on peak season surcharges worldwide Maersk has announced updates on its peak season surcharges (PSS), which will take effect from mid-February. The Danish ocean carrier is decreasing the PSS from China, Hong Kong and Taiwan to Kenya for all types of containers. Origin Destination Charge Basis Container CUR Levels China, Hong Kong China, Taiwan China Kenya Per container All 20 DRY US$ 150 China, Hong Kong China, Taiwan China Kenya P
Port of Rotterdam Authority supports Curaçao industrial zone redevelopment The Port of Rotterdam Authority will assist in the revitalization of lands owned by the state-owned company Refineria di Kòrsou (RdK). According to the statement, these lands, aside from their traditional uses, will host a variety of new sustainable economic activities designed to endure in the future. At the request of RdK, the Port of Rotterdam Authority will assign a manager for this initiativ
APM Terminals Moin cuts reefer inspection time by tenfold At APM Terminals Moin, a newly established reefer inspection express lane enables trucks to swiftly pass through a meticulously optimized inspection process for empty reefers destined for farm deliveries in just four minutes. This enhanced procedure has nearly eradicated waiting times, eliminated reworks, and significantly reduced transportation costs. "With hundreds of employees trained in Lean
How Do You Know When Someone Stops Sharing Their Location on iPhone Location sharing on iPhones has become a feature for people, enabling friends and family to stay connected and ensure each other's well-being easily. How can you tell if someone has stopped sharing their location with you? Whether it's due to choices or technical glitches, recognizing the signs and understanding the process can help avoid confusion and also you can track Android from iPhone . Let
COSCO launches maiden voyage of Transpacific service On 24 June, COSCO's SEA3 route successfully embarked on its maiden voyage with the Xin Fei Zhou departing from the port of Yantian in China. The ship carried 7,400 TEU of home appliances and e-commerce goods bound for the port of Long Beach in the United States. Four days later, the Hong Kong-flagged container vessel OOCL London set sail from Xiamen to Long Beach, marking the commencement of the
US lawmakers mull port fee to fight China's shipbuilding dominance A union proposal seeking to blunt China's growing dominance in the maritime, logistics and shipbuilding sectors is finding bipartisan support among U.S. Congressional lawmakers, based on remarks made at a recent U.S. House of Representatives committee hearing . The Congressional hearing, as well as the unions' petition before the U.S. Trade Representative (USTR), reflect a growing concern among l
Interview with Cathy Stephenson, Managing Director of Wärtsilä Water & Waste In the rapidly evolving maritime industry, staying ahead of stringent regulations and leveraging advanced technology is essential. Cathy Stephenson, Managing Director of Wärtsilä Water & Waste, emphasizes the importance of exceeding legislative requirements amid increasing environmental scrutiny. Speaking with Container News Managing Editor, Antonis Karamalegkos, at Posidonia 2024, Stephenson env
CMA CGM implements new peak season surcharges from India to Africa French ocean carrier CMA CGM has informed its customers about an upcoming Peak Season Surcharge. Starting from 15 July 2024 (gate-in date) until further notice, the surcharge will apply to cargo originating from India's ports in Mundra, Cochin, Mangalore, Nhava Sheva, and Tuticorin destined for South Africa. The surcharge will be US$500 per 20' container and US$300 per 40' container for dry cargo
Diana Shipping secures NYK Line charter extension at bumper rate New York-listed Greek bulker owner Diana Shipping has won an extension for the time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its newcastlemax vessels. NYK Line chartered the 2012-built, 206,104 dwt newcastlemax bulker Los Angeles for a gross charter rate of $28,700, minus a 5% commission paid to third parties, ...
Golar LNG bags 20-year deal for FLNG deployment in Argentina Tor Olav Trøim-backed floating liquefied natural gas specialist Golar LNG has entered into definitive agreements with Pan American Energy for a 20-year deployment of an FLNG vessel in Argentina. The FLNG project will monetize Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale ...
Prosafe in line for UK North Sea flotel work Offshore accommodation vessel specialist Prosafe has lined up more work in the UK North Sea for one of its flotels in a potential deal worth between $26m and $37m. The Oslo-listed owner and operator of six accommodation units and one tender support vessel has received a letter of intent from Ithaca Energy for the charter ...
Ocean Yield enters LNG segment Norwegian owner and sale and leaseback player Ocean Yield has marked its entry into the liquefied natural gas trade through a buy-in into France's Geogas LNG. The KKR-owned firm is taking over the interests from infrastructure fund CVC DIF, formerly DIF Capital Partners, which according to its website held a 31% stake in Geogas LNG, ...
Eastern Pacific seals 18,000 teu newbuild series Singapore-based Eastern Pacific Shipping has sealed a deal with China's New Times Shipbuilding for up to 12 LNG dual-fuel containership newbuilds. The Idan Ofer-controlled shipowner, with one of the largest newbuilding programmes, has contracted eight firm 18,000 teu vessels with options for four more. The order follows the news of John Fredriksen's SFL Corporation signing ...
Gard reveals alarming suicide at sea stats A new study by Norwegian insurer Gard shows that a worrying 11% of crew fatalities recorded on its insured fleet in the five years between 2019 and 2023 were due to suicide. "This is a worryingly high number and we believe that the actual number could in fact be much higher due to underreporting," Gard ...
Effiage to construct electrical substations for world's first artificial energy island French civil engineering construction company Eiffage has won an EPCIC contract from the Belgian national electricity transmission network operator Elia Transmission to build four alternating-current electrical substations on Princess Elisabeth Island. The contract was won through its Belgian arm Eiffage Métal subsidiary Smulders, in a consortium with HSM Offshore Energy and Iv-Offshore & Energy.
The Captain's Table seeks new tech champions The Captain's Table, the leading global pitch competition designed for startups in the maritime and logistics industry, is now accepting applications for its sixth cohort. The Hong Kong-based platform is now inviting founders with groundbreaking solutions that support the future of maritime and logistics, with a primary focus in the areas of environment, social impact, ...
New head of E&S Tankers appointed E&S Tankers, a joint venture of Stolt-Nielsen subsidiary Stolt Tankers and Germany's John T. Essberger Group, has appointed Malte Willer as its new managing director. Willer will take over from Jan Eghøj, who is leaving the company by mid-August. "Malte Willer has a strong knowledge of the European chemical tanker market and together with the ...
Shelf Drilling pens $68m jackup deal in Denmark Oslo-listed offshore driller Shelf Drilling has secured a new contract for one of its jackup drilling rigs for work offshore Denmark. The company won a 17-month deal for the Shelf Drilling Winner rig which will work for the Danish arm of French energy major TotalEnergies. The contract value for the firm period is approximately $68m, ...
Incoming Labour government must nix oil and gas windfall tax and allow offshore licensing, OEUK says Industry body Offshore Energies UK (OEUK) has congratulated Labour leader Keir Starmer on his party's win in the general election but has also expressed its concerns regarding the future of the country's offshore industry. Earlier this morning, it was announced that the UK's Labour Party officially won more than the needed 326 seats in the ...
Angelicoussis selects Singaporean yard for major retrofit programme Singapore's number one shipyard, Seatrium, has secured a favoured customer contract with Angelicoussis Group, Greece's largest shipowner. The two-year contract with a one-year renewal option includes the refit of 10 to 15 vessels per year comprising LNG carriers, tankers and bulk carriers. Seatrium and Angelicoussis already have a strong relationship, having delivered over 70 retrofits ...
Making data actionable: Context, value, and measuring ROI Marcura's director of strategic customer partnerships, Sigrid Teig, reflects on what she learned on stage at this year's Geneva Dry. In the rapidly evolving maritime industry, leveraging data intelligently is no longer just a strategic advantage-it is a necessity for growth and maintaining competitive edge. This was the central theme of the recent panel discussion ...
US court orders FMC to review Evergreen demurrage ruling An appellate court ruled the US Federal Maritime Commission erred when it solely applied its "incentive principle" to a detention case involving container carrier Evergreen Line.
New Singapore berths opening as congestion, ship delays ease The opening of the first of three new container berths last week at the Tuas mega container terminal is part of a larger effort to shift operations away from the city center.
High-flying air cargo market heading for 'hot' peak season Shippers that have not yet arranged air freight capacity out of Asia for the fourth quarter could be in for an expensive ride, according to Xeneta.
Pandemic 'wakeup call' hones shipping for Red Sea disruption: CEVA CEO Shippers and carriers are better prepared to deal with large-scale disruptions following the supply chain chaos of the COVID-19 pandemic, according to CEVA Logistics CEO Mathieu Friedberg.
Weak US manufacturing outlook is headwind for H2 truckload market recovery Demand fundamentals do not signal a substantial uptick in trucking volumes for the second half of the year, meaning a strong bull market pricing cycle will have to wait, writes analyst Jason Miller.
TriumphPay targets market share milestone for growing payments network The company believes shippers will benefit from a payments network it has created to help brokers and carriers bill shippers accurately before an invoice is sent out.
Sea1 Offshore completes vessels-for-shares deal, seals debt refinancing Company has made payments on two loan tranches, lifted covenant restrictions
MSC forks out $330m for 14,000 teu newbuilds novated from BAL Container Line Chinese line will bag close to $50m on sale of two neopanamax newbuild contracts
Departing E&S Tankers boss Jan Eghoej sets sights on shipping return Danish executive looking forward to more time at home as he plots next industry move
Golar LNG shares rocket as investors digest 'years-in-the-making positive catalyst' Stock hits new high as analyst sees $50 share price by year's end
Wavelength podcast: A billion-dollar offshore deal, the boxship bonanza and concerning seafarer safety stats Consolidation in the offshore supply vessel sector, container ships are still in vogue but seafarer safety stats show cause for concern
Boost for tankers as Ecuador restarts export pipeline after force majeure OCP outlet had been shut for 16 days following erosion damage caused by storms
Greek bank credit rating boost opens up further lending capacity for shipping From generalist lender National Bank to specialist shipping boutique ABBank, Greek banks will see their funding costs fall
Golar inks deal to send FLNG unit to massive Argentina shale project The 20-year project intends to use the FLNG Hilli vessel
Ocean Yield breaks into LNG by taking piece of NYK and Geogas newbuilding fleet Deal to buy infrastructure fund CVC DIF's stake is a first for S&P specialist
'Goodbye for now': Outspoken analyst Amit Mehrotra reflects on a decade of lessons in shipping This week Streetwise catches up with the researcher as he bolts from Deutsche Bank to UBS
Big jump in container freight rates raises spectre of Covid-level boom Fears grow as congestion builds and price rises spread into intra-Asia trades
Greek VLCC and suezmax heading to Norway as Equinor imports record amount of West African crude Maran Tankers and Nereus Shipping vessels moving cheaper oil to Mongstad refinery
Europe bans cargo ship that skipped repair call on 36 deficiencies Paris MOU bans the Hayriye Ana after it left the Italian port in defiance of agreed conditions
Deval family outfit buys the fourth and last bulker from Maestro Shipping Maestro Shipping has exited the dry bulk business as Devbulk extends growth effort
First-half capesize S&P deals hit record high powered by Chinese and Greek buyers Far Eastern players dominate acquisitions in what has been an unprecedented period for big bulkers
VLCCs numbers build off Saudi Arabia as rates to China fall to year-low Greece's Signal Group says more spot relets are arriving at Ras Tanura in 'struggling market'
Spanish owner set to snatch TotalEnergies LNG bunker vessel job Energy major pencils in up to two more specialised ships at the Chinese yard
Nuclear energy could be as transformational to shipping as shift from sail to steam, says LR Class society says refuelling schedules could be as long as 30 years
'Worryingly high number': Gard raises alarm on seafarer suicide rate Norwegian insurer says that under-reporting could mean the numbers are higher
Extended Red Sea crisis sees Fearnley Securities hike container ship market view Investment bank upgrades liner industry, betting on Red Sea effect spilling over into 2025
Braemar awards bosses free stock options in wake of rebellion over pay Chief executive James Gundy and others given incentive to stick around at UK broker
MPC Container Ships, Stolt-Nielsen and Odfjell lead Oslo shipping stock rally Oslo Bors Shipping Index soars 47% in first half
Joakim Hannisdahl says his shipping fund 'exceeding expectations' two years on from Cleaves split Norwegian investor retains bets on tankers and bulkers after 37% rise in value of Gersemi Shipping Fund
Greek mega-owner signs 'landmark' ship repair pact with Seatrium of Singapore Angelicoussis Group commits to repairing large number of its vessels at Seatrium's repair yards over the next two years
Louis Dreyfus signs up for two offshore vessels at Singapore's Strategic Marine Crew transfer vessels will work in the renewables sector
Unlocking digitalisation power requires vision, says RaaLabs Digital tools are not simply a box an owner slaps on a ship, chief executive Ari Marjamaa argues
Hurricane Beryl likely to impact South Texas on Monday Ports prepare for Hurricane Beryl's impact as the storm moves through Mexico and toward South Texas.
Red Sea attacks still taking toll on global chemical shipping industry Ongoing attacks on vessels in the Red Sea by Yemen's Houthis continue to disrupt shipping lanes in the chemical industry's supply chain.
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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