Self-unloading bulker grounded twice, which proved expensive In its second recent report on a Great Lakes bulker grounding incident, the National Transportation Safety Board has released its findings on an April 2023 incident in which the 1973-built, 667-foot-long, self-unloading
Höegh Aurora claims crown of world's largest, greenest, PCTC Three years after launching its Aurora Class design, Norway's Höegh Autoliners yesterday took deliver of the first vessel in the class, Höegh Aurora. Built at the China Merchants Heavy Industry shipyard in
West Coast ocean rates slide on easing demand, increasing capacity Ocean rates out of Asia were stable last week for most lanes, with prices remaining at about their mid-July highs for the year. But reports of forwarders and shippers having greater ease securing allocations and spot bookings, and projections for arriving US imports to start declining in September are contributing to expectations that rates will start decreasing in the coming weeks. Prices from A
Bernhard Schulte Shipmanagement joins SEA-LNG coalition Bernhard Schulte Shipmanagement (BSM), an integrated maritime solutions provider, has joined the SEA-LNG coalition, bringing its extensive LNG operational experience to the group. BSM, the world's largest third-party ship manager of gas carriers, oversees more than 100 gas carriers, including over 50 LNG carriers, and nearly 30 LNG dual-fuel ships. BSM ensures all its vessels meet International S
Port of Hueneme and STAX Engineering unveil emissions reduction system The Port of Hueneme, a key hub for international trade and a pioneer in environmental stewardship, unveiled an innovative partnership with STAX Engineering, a leader in maritime emissions capture and control. This collaboration marks a significant advancement in emissions reduction within the maritime industry through the introduction of a state-of-the-art emissions capture and control system. Th
Ukrainian grain imports surge by 123% at Port of Valencia The influx of grain and cereals from Ukraine to the Port of Valencia continues to surge. During the first half of 2024, the arrival of these products at the Valencian docks has increased by 123% compared to the same period in the previous year, more than doubling the traffic. From January to June 2024, a total of 661,861 tonnes of grain and cereals from Ukraine arrived at the Port of Valencia, up
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Mexico can be US West Coast alternative as volumes soar An anomaly has arisen in container shipping data as US West Coast imports from Asia saw rates falling on fears of a US recession, while US dockers' strikes on the East Coast and the election have raised fears of further disruption. Xeneta chief analyst Peter Sand, however, considers Mexico a viable alternative for US imports, claiming that Mexican ports have already shown they can handle the incr
Weathernews secures extended partnership with Saga Welco Weathernews, a global provider of weather intelligence solutions, announced the signing of a new long-term TFMS (Total Fleet Management Solution) contract with Saga Welco, a major international shipping company. This agreement strengthens a partnership that has lasted over 19 years. Saga Welco, renowned for its expertise in transporting forest products, breakbulk, project cargo, and bulk cargoes,
Kaiko Systems launches new advanced Vessel Health Map Kaiko Systems has launched the Vessel Health Map, a new tool designed to monitor and provide a comprehensive overview of a vessel's condition. Utilizing color-coded visualizations and 3D models, the Vessel Health Map simplifies extensive inspection data into clear, actionable insights, offering a complete picture of the vessel's health. Kaiko Systems emphasized that all areas of the main shipping
US volumes break 2.5 million TEU mark in July; Imports from China set record high According to Descartes Systems Group's latest Global Shipping Report, July container volumes into the United States were the third highest on record, eclipsed only by the first- and second-highest volumes in May 2022 and March 2022, respectively. Despite the increased volume in July, port transit time delays showed little impact with largely negligible improvement or decline. "The August update o
ONE opens new office in Morocco Ocean Network Express (ONE) will launch a new office in Morocco on 1 September, aiming to enhance its presence in the African market. Ocean Network Express Morocco will be a joint venture between Ocean Network Express Pte. Ltd and Universal Shipping. The new ONE joint venture will operate from Casablanca and Tangier, offering shipping services and digital solutions to customers in Morocco. "To en
2M announces changes in Asia - North Europe service network 2M alliance, including Maersk and MSC, has decided to revise its Asia-North Europe network, with the updated services taking effect from the 32nd week of the year. The service updates aim to improve the alliance's network by introducing new port calls and addressing ongoing congestion in Europe while maintaining competitive transit times between Asia and North Europe. Below are the revised rotati
Container ship newbuilds reach post-Covid high Boxship newbuilding orders have burst back into life as the Red Sea crisis has caused freight and charter rates to reach levels not seen since the Covid-19 pandemic. Clarksons stated that 89 container vessels, amounting to 1.2 million TEUs, have been commissioned in June and the first half of July, the highest run-rate since the pandemic-induced boom, when 910,000 TEUs of new ships were ordered o
Port of Virginia completes US$83 million rail yard expansion Virginia Port's newly expanded central rail yard is now fully operational, marking the successful completion of a project that enhances the port's rail capacity to 2 million TEUs annually. According to Stephen A. Edwards, CEO and Executive Director of the Virginia Port Authority, who spoke at the inauguration ceremony, this expansion improves the port's connectivity to key Midwestern population a
India now depends on Russia for 40% of its crude oil imports During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of 1,000% compared to 2021, before Russia invaded Ukraine," stated Niels Rasmussen, Chief Shipping Analyst at BIMCO. The increased import of Russian oil has contributed to a higher average sailing distan
Yilport unveils new container berth and yard at Puerto Bolívar Türkiye-based port and terminal operator Yilport announced the inauguration of Container Berth #6 and a new container yard at Puerto Bolívar in Ecuador on 31 July 2024. The total investment of over US$400 million represents the first step in an ambitious phase of strategic development aimed at enhancing the operational capacity of the Latin American terminal. Alfredo Jurado von Buchwald, Regional
Alba Wheels Up International appoints new CEO Alba Wheels Up International, a customs brokerage and international logistics service provider, has announced the appointment of Luis Eraña as the company's new Chief Executive Officer. Eraña succeeds Damien Stile, who will now serve as Co-Chairman of Alba Wheels Up International. "I'm very excited to be joining Alba as the organization really intensifies the velocity of its growth engine for cus
SAAM Terminals cuts CO2 emissions by over 10,500 tons through renewable energy usage SAAM Terminals facilities in San Antonio, Antofagasta, San Vicente, Corral and Puerto Montt reduced their carbon footprint by 41% compared to 2021 by utilizing renewable energy for 100% of their electricity needs. SAAM Terminals operates port terminals in San Antonio, Antofagasta, San Vicente and Corral and manages a logistics centre in Puerto Montt. Through the use of renewable energy, SAAM Term
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Maersk raises full-year financial guidance after improved Q2 results A.P. Moller - Maersk said it is continuing to "build momentum" in the second quarter of the year, reporting volume growth across all segments, while the EBIT margin reached 7.5% compared to 1.4% in the first quarter. Maersk noted increased profitability in the Ocean segment, strong growth in Logistics & Services, and outstanding performance in the Terminals sector. However, the Danish company rep
Danaos adds fifth newbuild to Dalian series Greek owner Danaos has bolstered its newbuilding orderbook, adding one more vessel to its 9,200 teu series at Dalian Shipbuilding Industry Co (DSIC). The Nasdaq-listed boxship tonnage provider and capsize bulker player disclosed in its quarterly earnings report it now has five ships contracted at China's state-run yard, three of which should deliver in 2027 ...
BlueFloat Energy reveals site for Taiwan's first floating wind farm Spanish developer BlueFloat Energy has revealed the site location of its Winds of September Phase 1 project to participate in the upcoming floating Demonstration Program set to be launched by the Taiwanese government later in 2024. The Winds of September Phase 1 project, in development since 2021, will involve the installation of up to 12 ...
Seanergy seals another capesize buy Greek capesize specialist Seanergy Maritime has revealed its second purchase this year that will take the company's fleet to 19 ships. The Stamatis Tsantanis-led listed owner and operator has picked up a 2012-built 181,400 dwt unit for delivery in the third quarter of this year. The ship matches the description of the Koyo Dock-built Sea ...
Ørsted pioneers Dutch offshore wind drone deliveries Danish offshore wind giant Ørsted has used heavy-lift cargo drones (HLCD) for the first time in a campaign at the Borssele 1&2 offshore wind farm. The company said that this endeavour would see a heavy-lift cargo drone transport cargo from a vessel to all 94 wind turbines in what it claims is a world's first. ...
Court pulls permit for NextDecade's US LNG export terminal A ruling by the D.C. Circuit Court has revoked NextDecade's permit issued by the Federal Energy Regulatory Commission (FERC) for its Rio Grande LNG export terminal in Texas. In a case put in front of the court, the Sierra Club, the City of Port Isabel, the Carrizo/Comecrudo Tribe of Texas, and Vecinos para el Bienestar ...
Eastern Pacific orders supersized ethane carriers Idan Ofer's Eastern Pacific Shipping (EPS) has placed a landmark order for ultra large ethane carriers (ULECs) in China. According to multiple shipbuilding sources, the Singapore-based diversified owner has booked six 150,000 cu m vessels at Jiangnan Shipyard, marking a world's first for this ship type, with more orders for similar units on the horizon. ...
Maersk fleet plans show huge divergence with rival MSC The world's top two containerlines are charting opposing courses as they ready to go their separate ways from next year. Mediterranean Shipping Co (MSC) now has a fleet in excess of 6m teu, commanding a 20% share of the global operated container fleet while Maersk, which was the largest liner in the world through to ...
New England given $390m grant for offshore wind infrastructure upgrades New England has been awarded a $390m federal grant to upgrade the infrastructure connecting offshore wind farms to the electric grid. The Massachusetts Department of Energy Resources submitted the Power Up New England project on behalf of all six New England states - Maine, Vermont, New Hampshire, Massachusetts, Connecticut, and Rhode Island. It is a ...
Malta replaces Greece as Europe's hotspot for ship-to-ship transfers of Russian oil Malta has emerged as the top European destination for ship-to-ship (STS) transfers of Russian oil in the wake of the Greek navy's decision to deter such activities in the Laconian Gulf. Since May 1, citing military exercises, the Greek navy has put out of bounds an area in international waters southeast of the Peloponnese islands, ...
SHI signs exclusive supply deal with Equinor for floating wind project South Korean company Samsung Heavy Industries (SHI) has signed an exclusive supplier agreement with Norwegian energy giant Equinor for the construction of floating substructures for wind power facilities. Under the agreement, SHI will also be integrating towers and power turbines to the floating substructures. Equinor aims to secure the Firefly Offshore Wind Project which the ...
IMO seeks to address risk to shipping of insider threats The International Maritime Organization has launched a new toolkit designed to help shipping respond better to ever-evolving insider threats. Insider threat refers to the risk that arises from a maritime employee carrying out or enabling a security incident, either through a lack of awareness, complacency or maliciousness. For terrorists and organised crime groups who are ...
Panama Canal inches back to normality The Panama Canal Authority (ACP) has upped the maximum authorised draft allowed for vessels transiting the larger neopanamax locks by 30 cm to 14.94 m as it gets back to normal operations following more than a year of drought-linked difficulties. The canal increased daily transits to 35 slots on Monday with plans to get to ...
How to manage fuel and freight price risks Gus Majed, the CEO of the Paratus Group, addresses the risk management gap in the global bunker fuel and freight markets. The global bunker fuel market, consuming approximately 3.5m barrels per day, alongside the global freight market, with a staggering 900m dwt in dry and wet tonnage, plays a critical role in the world economy. ...
Lloyd's-backed marine insurer issues Blue Card for LNG carrier making first call at US-sanctioned Russia project Maritime & Mutual Insurance Association (NZ) Ltd, a New Zealand-based, Lichtenstein-headquartered marine insurer provided cover, according to the vessel's flag...
Maersk to 'balance the bet' with LNG backtrack on future fuels 'There is a need for us to hedge some of the bets that we're making on technology and not taking...
Time to change the narrative on third-party shipmanagement, says Columbia's O'Neil As ship operations face growing complexities, the relationships between shipowners and management companies is becoming more sophisticated. As such, Columbia...
India ramps up crude imports from Russia in the wake of sanctions Aframax and suezmax vessels make up the majority of ships delivering Russian crude to India, with ships discharging in India...
IMO warns of shipping security threats from rogue staff The IMO has published guidance on reducing the risk of security threats by corrupt or disgruntled staff
Early peak season cements solid first-half box numbers Shipper frontloading and the emergence of an early peak season boost volumes tally, as liner sector achieves growth in the...
Japan Club brings down combined ratio in face of sliding yen Figures for outflux of tonnage now confirmed
Extended Red Sea disruption returns Maersk to profit and delays overcapacity-led downturn Maersk executives floated a possible return to slow steaming to offset higher fuel costs from rerouting around the Cape of...
China's Wison New Energies to build new yard in Jiangsu province As well as the new yard, the offshore marine company will also leverage its partner's manufacturing facility
Port of Virginia rail project expands capacity The $83m development is part of a wider $1.4bn Gateway Investment Plan being undertaken at the port in Norfolk, Virginia. This...
Panama Canal increases draught limit again The canal has been slowly easing restrictions on the draught limit of vessels that can transit its locks and is...
US imports smash past 2.5m teu Import volumes across the US in July surpassed both 2021 and 2022 levels for the first time this year, reaching...
Oregon shipbuilder Gunderson Marine & Iron airs leadership and ownership transition Dee Burch has acquired all shares in Gunderson Marine & Iron and has assumed the role of president. The Portland...
Maersk unveils massive newbuild programme amid fleet competition pressure Maersk confirms pivot to bio-LNG - a fuel type the carrier had previously dismissed - amid slower-than-expected green methanol production...
Daily Briefing Ukraine calls on governments to help investigate Russian grain smuggling | How Red Sea crisis breathed new life into boxship...
US shippers resisting truckload rate hikes amid ongoing market softness Economic indicators and mid-year reports show contract truckload rates still trending downward, with a truckload recovery proving to be slow going.
Short-term US industrial real estate market clouded by uncertainty: JLL In a new report, industrial real estate firm Jones Lang LaSalle said fundamentals such as absorption of warehouse and distribution space, vacancy rates, deliveries of new properties and subleasing activity slowed in the second quarter.
Lag in higher contract rates to drive second-half profitability: Maersk CFO The carrier believes the ongoing disruption in the Red Sea is now "entrenched" and will not change for the rest of the year.
Maersk CEO says port strike along US East, Gulf coasts is 'highly unlikely' Vincent Clerc instead expects the ILA and maritime employers to extend the current deal while talks continue rather than shutting down terminals when the contract expires at the end of September.
Cosco Shipping Bulk newcastlemax order spurs expansion at Jiangsu Hantong Chinese shipbuilder adding capacity as fresh deals flow in
Star Bulk Carriers doubles profits in first earnings since landing Eagle takeover Second-quarter earnings come in slightly below analyst forecasts
Genco Shipping sells off last 'small' capesize and pays 20th straight dividend New York-based bulker owner reports in-line earnings for second quarter
Costly double bulker grounding down to bad company advice, probe finds Operator's draught guidance was lacking when it came to highlighting safety factors and minimum under-keel clearances
Frontline tanker ships out first Utapate crude as Nigeria aims to boost exports Suezmax delivers new grade to Repsol as two more cargoes lined up
Maritime heads call on UK to make decarbonisation plan top priority 'We don't want to be left behind,' says UK Chamber of Shipping
International Seaways earnings miss linked to aframax pool preparations for TMX cargoes New York owner's latest venture with Ultranav of Chile has required some advance work
'Big blue' boosts green shift: Maersk closing in on orders for 50 to 60 new ships Around 25% of Maersk fleet will be equipped with dual fuel engines in five years
Gianluigi Aponte's MSC shopping for newbuildings at Chinese shipyard World's largest container line is adding to its fleet of new vessels
India finding cheap crude in Russia as new trading patterns solidify When rich countries shunned Russian crude, India saw an opportunity
GFI and Pilot launch plan for new small-scale LNG terminal in Mexico Companies team up on bunkering and transshipment hub project Salina Cruz LNG
George Economou payment plunges OceanPal to second-quarter loss 'Other operating loss' declared by the company refers to a reimbursement paid to activist shareholder
Sinokor dives into Scorpio Group MR pool with tanker quartet South Korean owner finds a new home for vessels as they redeliver from charters with energy major
Is Christen Sveaas set to merge offshore ventures Viking Supply Ships and Sea1? Speculation rises around Sveaas companies following management deal
Glencore ditches plans to sell coal business as fossil fuels remain cash cow More steelmaking mergers and acquisitions could be looming
International Seaways posts earnings miss as it guides for lower spot rates New York owner saw TCE rates tumble year on year and weaken into current market
Methanol pioneer Maersk hedging its bets on green fuels, admits boss Vincent Clerc Danish giant has inked orders for 800,000 teu of dual-fuel tonnage this year
FertiStream hires new shipping man to build freight trading book Previous incumbent in the position left abruptly in April
Living like it's 2017: Dorian LPG explains why an $84m shares sale made sense Chief financial officer Ted Young opens up to TradeWinds on the move for fresh funds
Cosco Shipping orders asphalt and bitumen carriers worth $98m Shanghai-listed company projects it can recover the newbuildings investments within 12 years
Africa's largest mining and infrastructure project to generate demand for 170 capesize bulkers UK law firm has been advising government of Guinea on massive infrastructure deal
Living like it's 2017: Dorian LPG explains why an $84m shares sale sale made sense Chief financial officer Ted Young opens up to TradeWinds on the move for fresh funds
Gibsons brokers planning big fundraising drive to build 'school of hope' in Kenya UK shop committed to boosting future prospects in Nairobi slum
Navios Partners linked to second sale of product tanker in quick succession South Korean-built sister ship pair with similar histories are expected to emerge with Asian interests
Global stock shock: Five factors for shipping investors to digest US recession risk, interest rates, geopolitics and possible Chinese stimulus offer unclear demand outlook
Australia's Venice Energy seeks investor for LNG FSRU import terminal Developer says success of project will depend on the backing of a partner with skills, track record and financial strength
Ardmore has firepower to pull off opportunistic tanker buys, analysts say Irish owner's debt and breakeven levels are falling, Clarksons Securities notes
First cargo leaves Russian Arctic LNG 2 plant on shadow ship LNG carrier heads into Norwegian waters amid talk of AIS data manipulation
Management shake-up at Yang Ming sees veteran president and youngest chairman appointed Taiwanese liner promotes a veteran of 40 years, days after naming new chairman
Shipping braced for Israel-Lebanon flare-up as tankers skip tinderbox region BRS says just four tankers are in Lebanese waters as tensions escalate
Five factors for shipping investors to digest as global stock market fears troll under the bridge US recession risk, interest rates, geopolitics and possible Chinese stimulus offer unclear demand outlook
Stainless Tankers eyes profit boost with full fleet now in Womar pool Tufton-backed chemical tanker outfit rakes in $4.5m in profit in the second quarter
VLCC scrubber retrofits pay off despite narrowing of bunker price gap, Gibson says Big tankers can still gain a rate advantage of $5,000 per day, broker calculates
Panama Canal hikes maximum draught for third time in weeks Rainy season allows further traffic normalisation in key Central America waterway
Adnoc L&S stays hungry for growth after splashing over $5.8bn on expansion in first half Middle East shipowner says these investments are already paying off as it reports a 31% jump in net profit
VLCC scrubber retrofits pay off despite narrowing of bunker price gap, Gibsons says Big tankers can still gain a rate advantage of $5,000 per day, broker calculates
Panama Canal hikes maximum draft for third time in weeks Rainy season allows further traffic normalisation in key Central America waterway
Maersk quarterly profit halves amid rosier full-year outlook Profit decline was largely down to lower Ebit for the quarter
Crew of car carrier seized by Houthis struck down by malaria Philippines government says several crew members experiencing significant health issues
Nakilat grows its gas ship fleet to 114 vessels in 'milestone year' Company adds 40 LNG carriers and VLAC newbuildings in six months
Maersk quarterly profit halves amid optimistic outlook for the year
Australia's Venice Energy looks to secure investor for LNG FSRU import facility Developer says success of project will depend on the backing of a partner with skills, track record and financial strength
Nakilat proposes dividend after reporting $228m first-half profit Qatari gas shipping giant says newbuilding contracts placed during the period will boost its fleet to 114 ships
Profit down at tanker player FSL Trust as it continues to seek new direction Company says focus is on securing accretive investments as existing fleet winds down
Dubai's 'hot maritime hub' lures five-strong team from Watson Farley & Williams Top firm has disputes and finance personnel in the Gulf city
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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