BITS Pilani & Gati Shakti Vishwavidyalaya sign MoU to propel collaborative efforts in education, research & innovation in diversified transportation & logistics areas
Next 4-5 weeks seen critical for global shipping & container traffic
All SCTPL candidates appearing for 2023 IICL examinations clear with distinction
Denmark announces alliance on green fuels in India
Commercial ships to anchor at Vizhinjam port from May, says Minister
A.P. Moller-Maersk & Government of Tamil Nadu enter into strategic partnership for investment opportunities in land development for logistics hubs, warehousing facilities & deployment of electric trucks
AD Ports Group closes 2023 as a year of global expansion & enhanced capacity
CMA CGM to reshuffle its services linking East Med countries, Malta & Libya
Modifications to initial auction amount in Panama Canal Neopanamax Locks
Red Sea crisis raising shipping costs; support to exporters suggested
Goods exports in FY24 seen at FY23 level despite challenges
US FMC advisory on providing public access to tariff publication systems
Operational Data of Gujarat Pipavav Port Limited for the Quarter and Nine Months ended 31st December 2023
Maersk Tankers acquires Penfield Marine Maersk Tankers has acquired Southport, Conn., headquartered Penfield Marine. Founded in2012 by Tim Brennan and Eric Haughn, Penfield describes itself as "a boutique commercial management company operating tankers around the world in
American Maritime Partnership announces new leadership team The American Maritime Partnership (AMP), the voice of the U.S. domestic maritime industry, has elected a new leadership team, with AWO's Jennifer Carpenter taking the helm as president and, in doing so,
Stena RoRo orders E-Flexer for Corsica Linea Stena RoRo has ordered what will be the first of its E-Flexer RoPax vessels to operate in the Mediterranean region. Set for delivery from Chinese shipbuilder CMI Jinling (Weihai) in the first
Empire Wind 2 rock installation contract terminated Equinor and BP's decision to "reset" the Empire Wind 2 offshore wind project (see earlier story) has led to another contract termination. As we noted in our report, the so-called "reset" decision
Port of Oakland, Parsons and partners introduce new app to improve port operations Parsons Corporation has joined the Port of Oakland, Advent eModal, Mobile Programming and key stakeholders to announce the launch of the Freight Intelligent Transportation System (FITS) at the Californian port. Since 2020, Parsons has worked closely with the Alameda County Transportation Commission (CTC), Port staff, the City of Oakland, the California Department of Transportation, and subcontrac
Leschaco announces changes at top level positions Germany-headquartered logistics service provider Leschaco announced the appointment of David Williams as the company's new Global Head of Tank Container. Williams will take the helm from his predecessor, Maximilian Nause, who will assume the role of Global Head of Sales as of 1 January 2024. David Williams brings a wealth of experience to his new position, showcasing a diverse background in vario
ZIM adds Cai Mep Port call to Asia-East Med service rotation On 8 January 2023, ZIM Integrated Shipping Services unveiled an enhancement to its ZMP service, a pivotal route linking Asia with East Mediterranean. The latest development includes the incorporation of an additional call at the Cai Mep Port in Vietnam. The revised service will be as follows: Pusan (South Korea) - Qingdao (China) - Ningbo (China) - Shanghai (China) - Da Chan Bay (China) - Cai Mep
Hanwha Ocean dismisses speculation about abandoning boxship business South Korean shipbuilder Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) has refuted media reports saying it will not accept container ship orders this year. A Hanwha Ocean official said, "We have not made any decisions such as not accepting orders for specific types of ships, such as container ships." Last year, Hanwha Ocean received orders for 17 ships, including five liquefied
Denmark and India launch green fuels alliance Denmark and India have launched the Green Fuels Alliance India (GFAI), a collaborative initiative aiming to enhance joint efforts between the two nations in the sustainable energy sector, aligning with their shared global commitment to carbon neutrality. Led by the Danish Embassy and Consulate General of Denmark in India, the alliance focusses on propelling the Green Fuels sector, particularly Gr
HMM sale will be cautiously proceeded in view of taxpayers South Korea's Minister of Oceans and Fisheries Kang Do-hyung told journalists at a New Year briefing that he does not believe there will be a "winner's curse" in selecting the Harim Group-JKL Partners consortium as the preferred bidder for the country's flagship carrier HMM. HMM's largest shareholders, the state-controlled Korea Development Bank and Korea Ocean Business Corporation, chose the Har
Port of Virginia becomes first USEC port powered by 100% clean energy The Port of Virginia is now powering all its terminals with electricity from clean resources and accelerating its goal of becoming carbon-neutral by 2040. By utilising clean electricity, the US port has effectively reduced carbon emissions by 45% per container, addressing both scope 1 and scope 2 emissions. Scope 1 encompasses exhaust emissions from equipment, while scope 2 involves emissions gen
India-US shippers hit by three rounds of hefty rate hikes in January Indian shippers are getting flooded with general rate increase (GRI) and peak season surcharge (PSS) notices as container lines attempt to maximise pricing out of the troubled Red Sea waters. MSC has just put out its third round of GRI and PSS plans for January, which together make up a total US$5,000-per-box increase for the month on the India-US trade. The Geneva-based liner, which saw one of i
Wallenius Wilhelmsen to enhance US logistics network with new Kalmar equipment Kalmar has secured a significant order from Wallenius Wilhelmsen, a major Norwegian shipping company, for four heavy electric forklift trucks, two electric reachstackers, and three heavy terminal tractors. Wallenius Wilhelmsen aims to enhance its US logistics network with this new equipment. This order, which also includes the deployment of the Kalmar Insight fleet performance management tool, wa
Maersk and Government of Tamil Nadu forge strategic partnership A.P. Moller-Maersk and the Government of the Indian state of Tamil Nadu signed a Memorandum of Understanding (MoU) at the Tamil Nadu Global Investors Meet 2024. This agreement paves the way for a strategic partnership, empowering both sides to collaboratively explore opportunities and bolster the state's expanding trade initiatives. "We have a long-standing 25-year relationship with the state of
Morgan Stanley leads $34m fundraiser at Vortexa London-headquartered energy and shipping analytics platform Vortexa has tapped private equity to raise $34m in fresh capital to speed up technology growth and the company's expansion into new international markets. Investment funds managed by Morgan Stanley Expansion Capital spearheaded the funding, with existing investors Notion Capital, Monashees, Metaplanet, FJ Labs and Communitas Capital also
Wood pens engineering deal for Trion FPU topsides UK consulting and engineering firm Wood has secured a contract from HD Hyundai Heavy Industries for detailed engineering of the topside facilities on Woodside Energy's Trion floating production unit (FPU) in Mexican waters of the Gulf of Mexico. When complete, Trion will have a production capacity of 100,000 barrels per day and connect to a ...
Maersk Tankers snaps up Penfield Marine Denmark's Maersk Tankers has acquired US pool operator Penfield Marine for an undisclosed sum, creating a crude and product tanker player that will manage around 240 vessels. The combined company will operate under the Maersk Tankers name and brand and will be headquartered in Copenhagen, with Tina Revsbech at the helm. Penfield Marine was founded ...
Energos Infrastructure buys Dynagas FSRUs on charter in Germany Energos Infrastructure a US-based liquefied natural gas (LNG) joint venture majority-controlled by Apollo-managed funds and minority shareholder New Fortress Energy has acquired two floating storage and regasification units (FSRUs) from affiliates of Greece's Dynagas. The two 174,000 cu m closed-loop FSRUs Transgas Force and Transgas Power, built in 2021, will be renamed Energos Force and ...
Petrofac wins new contract on BP's gas project offshore West Africa Offshore engineering specialist Petrofac has secured a new contract from BP to provide operations services for the Greater Tortue Ahmeyim (GTA) liquefied natural gas project in Mauritania and Senegal. The multi-million-dollar deal is for three years and covers a wide scope of services, including onshore and offshore management and supervision, provision of personnel, and equipment ...
Houthis show no sign of backing down in tense Red Sea standoff Houthi attacks against naval and merchant ships carried on over the weekend with more than one in five vessels electing to avoid the Suez Canal on routes between Asia and Europe. Yemen's Houthi militia have been targeting ships with drones and missiles in the southern Red Sea and beyond for the past two months in ...
Noble clinches drillship contract extension in US Gulf Offshore rig owner Noble Corporation has secured a contract extension from LLOG Exploration for its drillship . The New York and Copenhagen-listed firm said the Louisiana-based operator had exercised an option to add six months to the 2014-built rig's work scope in the US Gulf of Mexico. The extension should kick off in direct continuation ...
BW Catcher FPSO charter to continue past seven-year term The , owned and operated by Oslo-listed BW Offshore, will be working on the namesake field beyond its fixed seven-year term. The original seven-year base term of the contract expires on January 6, 2025, and from January 6, 2024, the contract is subject to a rolling 12-month termination right. Until such a termination notice is ...
Somalia strikes back at Ethiopia's bid for Red Sea access Landlocked Ethiopia's bid to gain access to the Red Sea via the port of Berbera has created a predictable diplomatic storm. Splash reported a week ago that Abiy Ahmed, Ethiopia's prime minister, had signed a memorandum of understanding with Somalia's breakaway region of Somaliland to lease 20 km around the Red Sea port of Berbera. ...
Unipec maintains tanker dominance New York-based brokers Poten & Partners has released its annual dirty spot chartering rankings with China's Unipec remaining the dominant force in tanker shipping. While China's Unipec was still the top player in the tanker market for 2023, the company moved 6.8% less cargo in 2023 versus 2022 and concluded 50 fewer fixtures, according to ...
TGS, PGS, SLB gear up for seismic survey offshore Malaysia Norwegian offshore seismic acquisition specialist TGS, in cooperation with its partners PGS and SLB, has announced that prefunding has been secured to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia. The seventh phase of this multi-year project off the coast of Sabah encompasses over 5,000 kilometres of new 2D seismic data acquisition, ...
India to create local P&I club India is to establish its own protection and indemnity (P&l) club, the latest part of the maritime jigsaw the Narendra Modi administration is creating in driving the country's shipping ambitions. Provisionally called India Club, the insurance entity will initially focus on covering domestic shipping, with a view to going international at a later stage. Local ...
COSCO orders VLOCs at affiliate yard COSCO Shipping has ordered two 325,000 dwt very large ore carriers (VLOCs) at its affiliated yard COSCO Yangzhou. According to Clarksons Research, the vessels will have methanol dual- fuel propulsion, will be shaft generator and scrubber fitted and are expected to deliver in 4Q 2026 and 2Q 2027. COSCO is going hard after methanol as ...
What I'd like to see happening in shipping in 2024 We asked Andrew Craig-Bennett for his wish-list for what he would like to see happening in shipping in 2024, and then we asked him to detail a reality check too. Needless to say, there's quite a divergence between the two. As I am sure you know, 'May you live in interesting times' isn't a real ...
Economou takes aim at OceanPal board Greek shipowner George Economou continues to pick a fight with the Palios family with the latest plan to oust most directors at dry bulk player OceanPal. Economou is seeking departures from five of seven current directors at the Nasdaq-listed owner of three panamaxes and a pair of capes while proposing two of his candidates for ...
Castor Maritime pockets $3.5m profit from kamsarmax sale Cyprus-based bulker and boxship owner Castor Maritime has locked in profit from the sale of the 2010-built kamsarmax picked up nearly three years ago. The Nasdaq-listed outfit controlled by Petros Panagiotidis has offloaded the 83,400 dwt for $17.5m, after buying it for $15.85m in January 2021. Castor said the deal should see the vessel delivered ...
Energos Infrastructure acquires two FSRUs from Dynagas Energos Infrastructure, a joint venture by asset manager Apollo and New Fortress Energy has acquired on two 2021-built FSRU's from...
Maersk Tankers boosts fleet to 240 ships as it buys Penfield Marine 'Our combined commercial and operational expertise will allow us to grow our presence as a commercial manager and extend our...
Containership fire claims lives of two seafarers in Houston Cause of fatal early morning blaze, which was extinguished by local fire services, is under investigation
Houthi leader tells ships to deny Israel links on AIS Houthi leader Muhammad Ali al-Houthi urged vessels to broadcast a 'no relationship to Israel' message when transiting the Red Sea...
Containership charter rates up on rising demand for extra loaders and feeder tonnage Hapag-Lloyd is said to have chartered a 3,400 teu containership for deployment from China to the Mediterranean as rerouting of...
Diversions likely to have only short-term impact on capacity The weeks leading up to February 10 will see Red Sea capacity concerns peak. But with the normal seasonal downturn...
The week in newbuildings: HD Hyundai wins VLGC double Newbuilding contracts recorded for eight bulk carriers, five tankers, six gas carriers and a trio of ro-ro cargo vessels
Pre-Chinese New Year demand fears temper Asia-Europe container rate optimism Demand from this year's pre-Chinese New Year mini-boom appears to be not as strong as expected. Concerns have arisen that...
MSC in first boxship recycling sale of the year Brokers report the sale of 30-year-old MSC Sophie to Indian recyclers in first containership recycling sale of the year. An...
Global volume growth remains subdued After two bumpy years, the fall in volume growth may now be levelling off. But despite current events in the...
The week in charts: Box freight rates rise | Red Sea activity down nearly 20% | Falling oil prices kept Greek shipowners in Russian tanker trades Iran trading fleet grows by 100 ships, tanker freight rates via Red Sea routes rise as transits decline, Shanghai's container...
US east and Gulf coast volumes rise in December despite Panama Canal disruptions US imports rose slightly in December from November, according to logistics and software provider Descartes. Despite restrictions and congestion in...
South Korean shipbuilder Hanwha Ocean to be more selective about accepting new orders The change in strategic direction is aimed at improving profitability and a sales strategy for specific vessel types will be...
Daily Briefing Red Sea war risk rates soften as insurers price in Prosperity Guardian | Box freight rates rise again as diversions...
Sinopec retains top spot among tanker charterers despite market share dip The Chinese charterer's decreased market share stems primarily from the VLCC segment, where some other major players have stepped up...
Container ship disruptions seen easing after Lunar New Year: analysts The mini-peak season ahead of China's factory holiday is causing short-term challenges for container shipping, but analysts say conditions should ease after Lunar New Year.
Border crossing reliability a hot topic in Mexico intermodal contract talks While companies that use the crossing at Eagle Pass are seeking to reassure existing and potential customers, competitors using Laredo, where no closures have occurred, are wasting no opportunity to talk up that route's relative reliability.
Should tanker operators lay a palm oil wager in 2024? Strong demand predicted, but supply is still the wild card
Insurer Coastal Marine Asia eyes expansion with new hire Expanding hull insurer has taken on one a well known figure in the world of marine insurance
Synergy and Wisdom Marine launch bulk carrier management joint venture Singapore and Taiwanese groups team up for dry cargo technical management
Zim shares plunge on reports of liner company pacts with Houthis Carriers have denied side agreements with Iran-backed rebel group in wake of report
Two seafarers die after fire on 27-year-old container ship Investigation begins into cause of blaze on Cosco-chartered, Danaos-owned container ship
Maersk Tankers chief pitches to new sectors with 'one-stop shop' tanker pools after Penfield deal Tina Revsbech says acquisition of US pool operator part of expansion programme
Ex-Vitol trader on trial in US over 'bribes' to win $500m contracts Mexican Javier Aguilar accused of bribing government officials between 2015 and 2020
Energos Infrastructure swoops for Dynagas FSRU duo in 'transformative' deal German-chartered regas units change hands as US infrastructure player steps into the spotlight
Maersk Tankers adds 83 ships to pools as it seals Penfield Marine deal Combined company will add extra crude tanker options to Maersk Tankers product pools
Maersk veteran takes up key executive role at Eyal Ofer's Zodiac Maritime New COO says he will help define next stage of giant shipowner's journey
Unipec still king of dirty spot charters as it fixes more VLCCs than rest of top 10 combined Dominance comes despite Sinopec offshoot doing 51 fewer VLCC fixtures in 2023, says Poten
New P&I club mooted as India seeks to soothe sanctions sting Mutual will first look at domestic shipping but there are plans to expand
'The gift that keeps on giving': Dorian LPG tops US shipping stock listings for 2023 LPG and the tanker sector were the year's winners, but dry bulk and container lessors finished strong
Maersk veteran Tanuj Luthra takes up key exec job with UK's Zodiac Maritime New COO says he will help define next stage of giant UK shipowner's journey
Stena RoRo adds to expanding 'green' ropax orderbook Swedish owner's 13th E-Flexer will be first delivered to the Mediterranean
OL Shipping recruits ship manager Sunil Kapoor as new partner and COO Cyprus-based line says new appointment has more than 40 years of shipping experience
'The gift that keeps on giving': Dorian LPG tops US shipping stock listings for 2023 LPG and the tanker sector were the year's winners, but dry bulk and container lessors finished strong
Norden in $70m resale deal with Greek owner as it builds up capesize fleet Danish giant is laying its hands on one of the most modern capes in the water amid rising prices
Tankers skip troublesome Red Sea as crude rates climb across three main classes Tankers joining flight from the waterway alongside liner operators
Sinokor 'gambles big' on VLCCs with first spot fixtures and talk of five-ship Frontline swoop South Korean owner is stirring up sentiment in the large tanker sector
Stink bugs: Tesla-laden car carrier refused Australia entry over 'disastrous' infestation Analyst says about 72 days lost as seafarers tried to fumigate ship
Ex-Vitol trader on trial in US over 'bungs' to win $500m contracts Mexican Javier Aguilar has been accused of bribing government officials between 2015 and 2020
Chinese shipping giant Cosco latest carrier to dodge Red Sea Significant move would pile pressure on other lines
Ex-Vitol trader on trial over $500m-worth of 'bungs' to secure oil transport deals Mexican Javier Aguilar has been accused of bribing government officials between 2015 and 2020
What is coming down the line for shipping in 2024? Takeover talk, renewals, regulations, newbuildings, oddities and one big birthday for starters
Dorian LPG rides strong fourth quarter to top US stock listings for 2023 LPG and the tanker sector were the year's winners, but dry bulk and container lessors finished strong
Greek shipowner W Marine strikes Nisshin kamsarmax deal in bulker push Athens-based company has acquired a seven-year-old vessel
Chinese shipping giant Cosco latest carrier to dodge Red Sea, say reports Significant move would pile pressure on other lines
PascoGas linked to $240m VLAC duo at HD Hyundai Heavy Company has been sitting on three berths across two South Korean shipbuilders
Norden linked to $70m resale deal with Greek owner as it builds up capesize fleet Danish shipping giant said to be laying hands on one of the most modern capesizes in the water amid rising prices
Galaxy Leader owner 'encouraged' by reports seafarers could soon be freed by Houthis Ray Car Carriers says it will meet full repatriation costs for its crew members
Torm announces bond sale to finance product tankers Danish product tanker owner to sell five-year senior unsecured bond
'We believe in shipping': broker Lightship takes $3.7m holding in Braemar Boss Sune Fladberg explains investment in UK rival
Date set for crunch Euronav-CMB.TECH merger vote Meeting to approve $1.15bn deal slated for 7 February
UK shipowner James Fisher doubles up on chemical tanker newbuildings Company has four LNG dual-fuel chemical tankers on order at China Merchants Jinling
Hoegh LNG nets charter extension for Colombian-based FSRU Cartagena-based regas unit had busy 2023 as South American country notched up record LNG imports
Panagiotidis family member snaps up bulker as Castor cashes in Cypriot owner turns a profit from selling bulker to a relative of boss Petros Panagiotidis
Unipec still king of dirty spot charters as it fixes more VLCCs than the top 10 combined Dominance comes despite Sinopec offshoot doing 51 fewer VLCC fixtures in 2023, says Poten
Flex LNG eyes bigger payday after Trafigura declines three-year charter extension CEO Oystein Kalleklev says Flex Constellation could bag up to $100,000 for term deals
Floating LNG sector finally counts down for take-off Raft of new projects queue for berth space as other prepare to kick off production
Liner giant MSC kicks off shipping's 2024 demolition derby Cash buyers say price offerings out of the Indian subcontinent are still not high enough to tempt owners to sell
Unipec still dominates dirty spot charters despite 51 fewer VLCC fixtures Sinopec offshoot still did more VLCC fixtures than the rest of the top 10 combined, says Poten & Partners
Liner giant MSC kicks off shipping's 2024 demolition derby Cash buyers say price offerings out of the Indian subcontinent are still not high enough to tempt owners to sell
As Red Sea risk spooks container shipping, tankers remain unfazed Red Sea escalation would juice tanker rates, but rates would fall if the conflict spilled into the Strait of Hormuz.
December imports surprisingly high amid Panama, Suez Canal woes U.S. imports kept chugging along, despite all the talk of supply chain problems due to Red Sea attacks and Panama's drought.
FedEx braces for 50% cut in Postal Service air contract FedEx Express faces more headwinds in its effort to improve profitability as the U.S. Postal Service prepares to drop air routes from contracted service.
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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