Ulstein Verft launches first of two Olympic CSOVs Ulstein reports that the first of two advanced offshore wind construction service and operation vessels under construction for Norway's Olympic Subsea ASA has been launched from the dock hall at its Ulstein
EuroGreen Maritime wins Equinor charter for four new super green product tankers Nantes, France, headquartered EuroGreen Maritime SAS (EGM) reports that it has secured a seven-year charter agreement with Equinor ASA for four state-of-the-art MR IMO II product tankers, each fitted with a pair
VIDEO: Salvors remove first containers from Dali As the U.S. Army Corps of Engineers works towards its target of restoring full access to the Port of Baltimore by the end of May, the Unified Command responding to the incident
Kalmar to supply six hybrid straddle carriers to French box terminal Cargotec-owned manufacturer Kalmar has entered into a contract with Med Europe Terminal in Marseille, France for the provision of six Kalmar hybrid straddle carriers. This significant order was recorded in Cargotec's order intake for the first quarter of 2024, while the delivery of the machines is scheduled for the fourth quarter of 2024. "We are constantly striving to improve our environmental p
King Abdul Aziz Port handles over 2.3 million TEUS in 2023 Located on the Arabian Gulf coast, King Abdul Aziz Port in Dammam achieved record-breaking throughput in 2023 and early 2024. The port handled 2,305,811 TEUs in 2023, marking a 13.10% increase compared to 2,038,787 TEUs in 2022. Additionally, it set a new record in March 2024 by managing 289,787 TEUs, highlighting the strength of its infrastructure and its ability to accommodate and manage growin
Valencia receives bids for new container terminal construction Port Authority of Valencia (PAV) has received four tender bids for the execution of the container quay works in the northern extension of the Spanish port. These bids are the ones that have been quantified on the platform at 1 p.m. on 5 April, when the deadline for receipt of bids closed. Next Tuesday, 9 April, the authority will proceed to the opening of envelope 1 of each of the proposals submi
Evergreen suspends Haiti calls amid security concerns Due to the escalating security concerns in Port-au-Prince in Haiti and the heightened levels of street violence, Evergreen has decided to suspend all calls at the port until conditions improve. Consequently, the Taiwanese ocean carrier will also stop receiving new bookings to or from Haiti until further notice. "Under the current situation in Haiti, we suggest our clients consider the potential i
GEODIS launches new Container Freight Station in Singapore GEODIS, a global transport and logistics services provider, has opened its new Container Freight Station (CFS) in Singapore, which is located within the Keppel DistriPark free trade zone. The station is expected to serve as an international hub and a key node within the highly secure GEODIS Road Network, which connects major air hubs and seaports in Southeast Asia and China. The new CFS offers a
APM Terminals Buenos Aires appoints new managing director Manuel Delgado has assumed the position of managing director at APM Terminals Buenos Aires T4 in Argentina starting from 1 April 2024, following his tenure as deputy managing director since July 2023. Additionally, he will become a part of the Leadership Team for the Americas region. With over 25 years of leadership experience in banking, capital markets, corporate finance, and mergers & acquisit
WiseTech Global acquires Finnish provider of electronic customs and freight forwarding services WiseTech Global, the developer of logistics software CargoWise, has announced its acquisition agreement with Aktiv Data, a Finland-based provider of electronic customs and freight forwarding solutions. "With many years of customs and compliance product development in Finland, Aktiv Data provides a proven and sophisticated electronic customs solution that we will offer to CargoWise customers, maki
Maersk opens new warehouse in Sri Lanka A.P. Moller - Maersk inaugurated its brand new warehouse in Sri Lanka at Wattala, spread over 9,300m². Present at the inauguration were Vikash Agarwal, Managing Director of Maersk South Asia, Biju Ravi, Head of Maersk Sri Lanka, Dr. Parakrama Dissanayake, Deputy Chairman & Managing Director of Aitken Spence PLC, and other leaders. "Our new warehouse in Sri Lanka represents a strategic milestone i
Port Everglades receives new container cranes Port Everglades officials, partners, and elected representatives inaugurated three new Super Post-Panamax container gantry cranes. Standing tall at 53 meters, these cranes are poised to elevate the operational efficiency of the South Florida port to new heights. Presently, Port Everglades ranks among the top 25% of ports globally for operational efficiency, as per the latest Container Port Perfor
MSC faces financial penalty of over US$63 million relating to reefer overcharges Mediterranean Shipping Company is facing a fine of at least US$63 million after the US Federal Maritime Commission (FMC) accused the world's largest liner operator of contravening the Shipping Act. The quantum of the penalty was disclosed after the FMC commenced investigations in August 2023, after several of MSC's customers disputed a substantial amount of charges, including for detention and de
Hapag-Lloyd, the most reliable ocean carrier in February Following a period of uncertainty following the Red Sea crisis, a sense of stability has emerged in the ocean carrier schedule reliability, particularly with the normalization of round-Africa routes, according to a recent report by Sea-Intelligence. This trend is reflected in the February 2024 global schedule reliability score, which saw a month-on-month improvement of 1.7% points reaching 53.3%.
Konecranes takes over German crane and service supplier Finnish port equipment manufacturer Konecranes has acquired the business of German crane and service supplier Kocks Kranbau with the value of the purchase, which was closed in April, remaining disclosed. Kocks Kranbau GmbH was established in early 2023 following the insolvency of the parent company Kocks Ardelt Kranbau GmbH, a port and shipyard crane manufacturer. Kocks Kranbau's main operations
CMA CGM announces "rate restoration" from North Europe and Med to North America CMA CGM is implementing Rate Restoration Initiative 4 (RRI04) for shipments from North European and Mediterranean ports destined for the United States, Canada and Mexico, as well as inland destinations accessible via these ports. Commencing 1 May 2024, unless otherwise specified, a Rate Restoration Initiative 4 (RRI04) will be enforced on tariff or service contract rates for all cargo within the
Canada's CSL buys half of Peak Group to expand market footprint Canadian owner CSL has acquired 50% of Norway's Peak Group, joining shortsea operations in Northern Europe and assets within the coastal and offshore shipping sectors. The new partnership, called Peak CSL Group, will aim to deliver marine logistics solutions for industrial clients across Europe. Under the Peak CSL Group banner, the company is positioned to ...
EuroGreen Maritime seals deal with Equinor for methanol dual-fuel product tanker newbuilds French shipping company EuroGreen Maritime has landed a seven-year charter deal for four MR product tankers newbuilds with Norwegian energy major Equinor. The vessels, worth more than $250m in total are scheduled for delivery from Wuhu Shipyard in China starting in the first half of 2026 through 2027. They will serve Equinor's products trade and ...
Cadeler firms up long-term vessel deal with Ørsted Denmark-based Cadeler has inked a firm long-term vessel deal with compatriot utility Ørsted for one of its wind farm installation newbuilds. Under the agreement, the BW Group and Scorpio-backed shipowner will provide Ørsted with a hybrid-design unit capable of installing both foundations and turbines. The Ørsted deal dates back to October 2022, when the duo ...
Gearbulk signs for up to four bulkers in China Norwegian open hatch bulker owner Gearbulk has contracted up to four ammonia and methanol-ready 82,300 dwt newbuilds and CSSC Huangpu Wenchong Longxue shipyard in China. The contract covers two firm vessels, with delivery in the first half of 2027 and an option for a further two units. The ships will be operated by G2 Ocean ...
Sanctions and drones take their toll on Russian oil exporting machine Further signs are emerging of how sanctions combined with Ukrainian drones are causing serious problems for the Russian oil exporting machine with advice issued today on how Washington could reduce the size of the so-called shadow fleet further. Research carried out by Craig Kennedy, who runs the Navigating Russia substack, suggests the shadow fleet is ...
Niels Josefsen to step down at Lauritzen Bulkers Niels Josefsen is stepping down as chief executive of Danish handysize player Lauritzen Bulkers. The Copenhagen-based outfit said Josefsen has decided to retire allowing him to spend more time with his family and friends and on personal interests. The company's board has launched the search for the next CEO, but Josefsen will remain in his ...
Containers offloaded from stricken boxship in Baltimore Salvage crews on Sunday began removing containers from the deck of the containership that crashed into and collapsed the Francis Scott Key Bridge in Baltimore. The removal of the containers from the deck of the Dali would continue this week as weather permits, according to a statement from the Key Bridge Response Unified Command. Crews ...
Arkas signs for four boxship newbuilds in China Turkey's largest boxship operator, Arkas, has signed a contract in China for four ships that will take its fleet past the 100,000 slot mark. The 4,300 teu sister ships will be built at Guangzhou Wenchong Shipyard and are costing $240m in total. The vessels will deliver in the first half of 2028, another sign of ...
Houthis claim to have attacked ship in the Indian Ocean The Houthis claimed over the weekend to have widened their area of operations, saying in a televised address they had targeted three merchant ships as well as US frigates, including one attack in the Indian Ocean. Security consultants however have not confirmed the attacks and there is a history of the Houthis overstating the success ...
One dead and several injured in Pemex platform fire At least one person has been killed and several others are injured in a fire that erupted on the Pemex-operated Akal-B oil platform in the Gulf of Mexico. Pemex said on Saturday the fire broke out at 16.48 hrs local time in the area where the pipelines that handle gas are located, adding that it ...
APM Terminals lodges case to block ICTSI's Durban port contract APM Terminals has lodged a case at the Durban High Court in an attempt to block an Asian port operator rival from taking over a terminal in the city, South Africa's largest container facility. Manila-headquartered International Container Terminal Services (ICTSI) was meant to have taken over the running of Durban Container Terminal (DCT) Pier 2 ...
PGS bags large 3D seismic deal Norwegian seismic acquisition specialist PGS said Monday it had secured a letter of award for a large 3D contract offshore South Atlantic margin. Under the contract with an undisclosed multiclient company, the Oslo-listed outfit will utilise a Ramform Titan-class vessel for the survey, expected to last up to 300 days. Mobilisation is scheduled to start ...
X-Press Feeders readies for methanol-powered future in the Baltic Feeder giant X-Press Feeders has signed a memorandum of understanding (MOU) with six European ports to speed up the provision of green fuels, particularly methanol. The agreement will focus on north Europe, with ports covered including Antwerp Bruges, Tallinn, Riga, Klaipeda and Finland's HaminaKotka and Helsinki. "This landmark agreement signifies a joint commitment to accelerate ...
Aker Solutions awarded contract by OKEA Norway's Aker Solutions has won the engineering, procurement, construction, installation and commissioning (EPCIC) contract for the Brasse tieback project for OKEA. Brasse is an oil and gas field located 13 kilometers south of the Brage platform in the Norwegian North Sea. The field will be developed as a subsea tieback to Brage and will ...
Containerised fuel cell power generator project presses ahead Norway's TECO 2030 has received an approval in principe (AIP) from DNV for a containerised fuel cell power generator (FCPG) for use onboard oceangoing applications. The power generator system can seamlessly integrate with a ship's main switchboard, offering power generation while emitting nothing but warm water and air. Tore Enger, TECO 2030's CEO, said the ...
Pan Ocean behind pricey tanker order at Hyundai Mipo Pan Ocean has been named as the owner of high-priced product tanker newbuilds at a competitor yard in South Korea. Brokers at Clarksons have identified the Harim Group-controlled diversified owner of more than 100 ships behind the order for a 50,000 dwt quartet at HD Hyundai Mipo. HD Korea Shipbuilding & Offshore Engineering, a holding ...
Eagle Bulk shareholders green light Star Bulk takeover Shareholders of US-based Eagle Bulk Shipping have voted in favour of a proposed merger with Greek dry bulk giant Star Bulk Carriers. The New York-listed company said holders of approximately 65% of its outstanding shares backed the deal, which will see them receive 2.6211 shares of Star Bulk common stock for each share of Eagle ...
Kristian Siem seals nine-vessel deal to exit Siem Offshore The founder of Siem Offshore, Kristian Siem, is leaving the company and stepping down as chairman by letting go of 35% of his shareholding in exchange for nine vessels. Founded in 2005, Siem Offshore lists 26 OSVs in its fleet, which will now be split according to current ownership. The company's second-largest shareholder is Norwegian ...
Shearwater agrees $700m refinancing Norway's Shearwater Geoservices, the world's top seismic vessel player, has completed the refinancing of its long-term debt. The Bergen-based firm has issued a five-year $300m senior secured first lien bond and executed a new $300m five-year bank loan with net proceeds used to repay previous debt. It has also established a $50m revolving credit and ...
Euronav-FourWorld saga not over as US fund files another claim FourWorld Capital has come back at Euronav with another legal complaint, this time asking a Belgium court to declare the...
BW LPG pulls trigger on dual listing in New York BW LPG has submitted a registration statement to US regulators for listing its shares on the New York Stock Exchange...
Economou accuses Genco of 'purposeful evasion' as he targets board chair for removal Billionaire George Economou's contentious return to the US capital markets continues. Ahead of Genco's annual meeting, he is upping the...
Finnlines installs shore power on three vessels Finnlines said the project will help it to decarbonise its fleet and reduce the environmental impact on port communities. But...
Mistakidis takes control of Greece's AB Bank Small Greek bank has 80% of its loan book in shipping market
South Korea vows to double container fleet capacity by 2030 Fleet expansion plan puts spotlight on South Korea's largest container shipping line HMM and could require an almost doubling in...
Officers at RFA vote to strike on pay Union appeals for further talks to avert walkout
Capacity deployment remains unstable on main lane trades Red Sea rerouting and other disruptions are playing havoc with vessel deployments. The unstable environment could leave carriers at risk...
Attica confirms €1bn yard programme over 10 years Recent merger with Anek helped group to largest profit in many years
Denmark's Green Marine to back to methanol bunkering and trading in Shanghai A methanol trading platform will be established in Shanghai to manage price fluctuations and help physical transactions
Week in charts: GPS jamming sees ships show up at airports | Russian crude exports defy price cap | Ship carrying Russian timber held in Rostock GPS jamming in the Mediterranean has surged recently, the G7 price cap imposed on Russian oil has been exceeded in...
Türkiye's Arkas orders four new panamax boxships Arkas plans to renew some of its 50-strong fleet in a bid to reduce emissions and better comply with new...
Japan Club sees tonnage exodus Fifth consecutive year of general increases is heavy burden for members, IG's only Asian affiliate says
APM Terminals steps up port efficiency drive as new alliance launch looms Better productivity at transhipment hubs will improve throughput for the entire network and bolster resilience against continuous disruptions, port operator's...
Houthi attacks resume as boxship targeted US Central Command also confirmed it had intercepted inbound anti-ship missiles as activity in the region heats up again
Container volumes tread water despite monthly surge Box volume data showed healthy growth in the first two months of 2024. But the long-term trend line remains stagnant
The week in newbuildings: Orders valued at $3bn signed Bulkers and tankers continue to dominate newbuilding ordering activity as shipowners invest in more fuel-efficient tonnage during strong freight markets
Daily Briefing War zone location jamming sees more ships show up at airports | MSC faces potential $63m FMC fine for actions...
March job gains for trucking signal rebalancing in US freight markets US trucking companies hired more workers than expected last month as stronger manufacturing and service sectors are beginning to generate more freight.
India sourcing boom drives US import container growth Growing US import volumes and market share from India coupled with a surge of investment from major big box retailers and manufacturers, suggests a tipping point for connecting ocean trades and the country.
Top US retailers set Asia service contract floor significantly higher Carriers in the eastbound trans-Pacific have concluded 2024-25 service contracts with several of the largest US retailers at rates that are significantly higher than in last year's contracts as carriers leveraged today's relatively high spot rates.
Iraqi Persian Gulf port project moves forward as backers push Red Sea alternative The UAE's AD Ports Group and the Iraqi government have signed a preliminary agreement to develop the Al-Faw Grand Port, its economic zone and freight-supporting infrastructure.
BW Group has New York state of mind with third company coming to town's stock exchange BW LPG to become largest VLGC owner listed in US stock markets
Zodiac Maritime, Fortescue and more pile cash into green fuel project Tree Energy Solutions scoops up €140m to fund hydrogen-based green fuels projects
Stena Line expands outside Europe in €49m Morocco deal Swedish passenger ship operator acquires Greek-held minority stake in Tangiers-based ferry firm
George Economou turns up heat on Genco Shipping and its chairman Greek magnate says New York bulker owner has been 'hostile' to his demands
Vitol's still-enormous profit dips as energy commodity volumes rise meets price slump Trading giant moves more LNG and gasoil as crude slips
Atlantic VLCC rates sink to three-month low as Venezuela cancellations add further pressure Outlook becomes more bullish as oil prices point to production rises
JP Morgan tied to $270m Equinor charters for new methanol-fuelled product tankers Investors linked to US bank said to have scooped big deal, but question marks have been placed over profitability
EuroGreen Maritime scoops Equinor business for product tanker quartet Methanol-fuelled, wind-assisted vessels will feature battery technology, cutting emissions in excess of IMO's 2030 targets
'More pain to come': Product tanker rates feel the squeeze as build-up of empty vessels hurts market Ships ballasting to the Middle East is weighing on the market
Baltimore bridge crash ship crew set sights on salvage away from spotlight Crew welfare and the image of shipping are in the spotlight as crew remain on stricken vessel
Golar LNG appoints Federico Petersen as new chief commercial officer Fresh hire to home in re-contracting of existing FLNG unit and 'growth ambitions'
BW Group-backed Cadeler signs long-term agreement with Orsted for $345m offshore wind vessel Danish owner will handle both foundation and wind turbine installation
Investment in alternative fuelled-newbuildings surges by over 50% in first quarter DNV decarbonisation head says investment in vessels that can burn ammonia is 'on the rise'
Maersk resumes Panama Canal transit service as rainy season approaches Danish carrier reinstates service suspended in January
Hope fades for Indian cadet lost from Transpetrol tanker in Pacific Owner and crew provider Wilhelmsen Ship Management express sadness as family seeks answers
Direct hit on vital Russian oil pipeline halts tanker loadings in Azov Ukraine says it blew up vital link in port
Libyan state shipowner GNMTC tied to big-ticket tanker buy from Samos Steamship Libyan company said to be splurging $79m on three-year old, Greek-controlled aframax
Lauritzen Bulkers CEO Niels Josefsen exiting after five years in hot seat Bulker operator's boss retiring after five years in the hot seat
Ukraine trade: Greek bulker becomes largest ship to call in conflict zone Greek bulker has left port of Pivdennyi, Ukrainian government says
Huaxia Financial Leasing inks ultramax bulkers at New Dayang Shipbuilding Chinese leasing company orders eight newbuildings against charters to Sumec Ocean Transportation
Gearbulk orders up to four 'Pulpmax' ammonia bulkers for G2 Ocean pool Owner will contribute Chinese-built vessels to joint venture with Grieg Maritime Group
Cocaine weighing 212 kg found hidden on ship by Brazilian divers Joint operation with navy found eight packets weighing 212 kg below the waterline
Eight feared dead after SITC-chartered ship and fishing vessel collide Chinese authorities fail to find crew members after accident off Hainan province
Baltimore clean-up: Salvors move first containers to free stricken Dali in painstaking operation Opening shipping the lane and removing debris are key priorities in the coming weeks, say officials
Teco 2030's fuel cell in a box wins DNV approval Approval in principle for fuel cell system that includes full energy management
Shipowner Arkas splashes $240m on first newbuilding order in eight years Company is expanding into intermediate container ship segment with quartet to be built in China
Gianluigi and Rafaela Aponte beat Ofers and John Fredriksen to top shipping's rich list Joint owners of MSC Group are worth a combined $66bn
Torvald Klaveness expands Asian reach with new office in Japan Haruki Chua will spearhead the Tokyo dry bulk operation
Saverys family tightens Euronav grip as fresh deals push buyback total to $123m Saverys family continues to increase ownership of tanker company
Norden strikes pool deal with Pertamina as two tankers added to fleet MRs sold in December end up in Pertamina's fleet and Norden's pool
Billionaire ex-Glencore trader buys Greek shipping bank in which Tsakos family is a major investor Investor agrees to become top shareholder in Aegean Baltic Bank
Danaos scraps container ship following fatal fire that killed two seafarers The third Greek vessel sold for demolition this year was a total loss
German owner Leonhardt & Blumberg books first product tanker order with methanol-ready pair German owner has added to its fledgling tanker market presence
Sinokor scores hefty scrap price for container ship heading to Bangladesh Lucrative deal comes despite cash buyers reporting an overall softening in South Asian recycling sector
Red-hot oil market Namibia offers new opportunities for VLCC and suezmax owners Region potentially boasts one of the top 10 global oil discoveries this century
Global Ports Holding seals 50-year deal to manage Liverpool cruise port London-listed company to takeover terminal from local council that has been running it since 2007
Greek ferry firm Attica sells ropax to Iliopoulos amid bumper profit Merger with smaller rival Anek Lines catapults Attica's net income to 16-year-high
HuaXia Financial Leasing inks ultramaxes bulkers at New Dayang Shipbuilding Chinese leasing company orders eight newbuildings against charter to Sumec Ocean Transportation charter
Sinokor scores hefty $600 per ldt scrap price for container ship heading to Bangladesh Lucrative deal comes despite cash buyers reporting an overall softening in South Asian recycling sector
How Singapore's 'big picture brilliance' is powering innovation City-state has become a transformative force for maritime by investing in 'invisible returns'
Namibia offers new opportunities for VLCC and suezmax owners, says Gibson Region potentially boasts one of the top 10 global oil discoveries since the turn of the century
Container owner Leonhardt & Blumberg orders methanol-ready product tankers First tanker newbuilding contract for the German owner
Demand shocks keeping aging fleets afloat, argue shipowners Ship recycling has fallen to its lowest level in 20 years, per a recent report by the Baltic and International Maritime Council.
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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