Bollinger starts building ULA's new SpaceShip ULA (United Launch Alliance) has a next generation Vulcan rocket. With lot of work already lined up for the rocket, ULA is building a new RO/RO ship, called SpaceShip to carry the
GAO reports on problems plaguing top Coast Guard shipbuilding programs The deliveries of the Coast Guard's Offshore Patrol Cutter (OPC) and Polar Security Cutter (PSC) lead ships are delayed by almost four and five years, respectively. Additionally, the OPC and PSC cost
Container ship deliveries hit new record of 1 million TEUs "In 2023, 2.3 million TEU of container ship capacity was delivered, beating the former all-time high by 37%. Year-to-date another record has been set as more than 1 million TEU has already been delivered during the first four months of the year, an increase of nearly 80% compared to the previous record," says Niels Rasmussen, Chief Shipping Analyst at BIMCO. As ship recycling has so far only reti
What Are Sales Bookings? The term "sales bookings" is a crucial concept in the lexicon of business and finance, functioning as an early indicator of revenue. It represents commitments made by customers to purchase a company's products or services, often documented before an invoice is issued or revenue is realized. This forward-looking metric provides a glimpse into the health and potential growth of a business and offer
Philippine Ports Authority hands over ICPC to VCT The Philippine Ports Authority (PPA) officially handed over the management and operation of the Iloilo Commercial Port Complex (ICPC) to Visayas Container Terminal (VCT) in a ceremony on 6 May 2024. The event was attended by officers of PPA, VCT and International Container Terminal Services, Inc. (ICTSI), together with stakeholders from Iloilo industries and representatives from shipping line SIT
Maersk launches New Zealand service Maersk has announced the introduction of an upgraded service offering to support logistics requirements covering New Zealand and the Islands. Commencing on 17 May from the port of Tauranga, the new NZPAC network will offer improved service frequency with a fixed day, weekly service from New Zealand (Tauranga, Auckland) to Fiji (Suva, Lautoka) and Samoa (Apia). The Danish ocean carrier said the up
Hapag-Lloyd, CMA CGM update Far East Service Hapag-Lloyd and CMA CGM will make changes in their joint service, Far East Service (FE9), replacing the Port of Singapore with the Port Klang on the eastbound rotation. The updated service rotation will be Rotterdam, Netherlands -> Southampton, UK -> Antwerp, Belgium -> Le Havre, France -> Port Klang, Malaysia -> Qingdao, China -> Shanghai, China -> Ningbo, China -> Yantian, China. The new rotati
MSC ship enters Baltimore to evacuate containers One of MSC's ships has become the first vessel to call at Baltimore Port's Seagirt Container Terminal since the Francis Scott Key Bridge collapsed on 26 March. Alphaliner's report stated that the 2,797 TEU MSC Passion III, which is deployed to the Swiss operator's Philadelphia Express service connecting Philadelphia to Bahamas' Freeport, Moin, Colon and Cristobal, made an ad hoc call to Seagirt t
Shift in box lines' strategy to owned tonnage Liner operators have been increasing the proportion of owned to chartered ships in their fleet as the Covid-19 pandemic made them cash-rich amid rising charter costs, according to Alphaliner's report. MSC has been the most striking example of a carrier favouring vessel owner ship at the expense of chartering, having bought the most ships among operators since 2020. MSC has ordered 88 newbuildings
Maersk applies new peak season surcharges from Asia to Africa Maersk has announced new peak season surcharges (PSS) from China, Hong Kong and Taiwan to several African destinations. Effective from 6 May, the Danish ocean carrier will implement the following PSS from China and Hong Kong to Senegal, Guinea, Mauritania, Gambia, Liberia, Sierra Leone, Cape Verde Island and Mali, and effective from 25 May, Maersk will implement the same PSS from Taiwan to the af
cargo-partner expands air freight solutions from Amsterdam and Brussels Global logistics provider cargo-partner now offers seamless air freight solutions from Amsterdam, Netherlands and Brussels, Belgium to key locations across Europe, Asia, the Americas and South Africa. cargo-partner has expanded its air freight offering to provide daily and weekly services from key airports across Belgium and the Netherlands to destinations worldwide, aiming to ensure timely deliv
What Can an eCommerce Development Company Do for You? Business owners in all industries often find themselves too busy with a lot of tasks, ranging from financial management to making strategic decisions. Especially solopreneurs may find it difficult to manage all aspects of their online business, which is where an eCommerce development company can step in to provide help. How can they help an online store owner grow and improve their business? What
Porto Itapoá sets new monthly container record Porto Itapoá set a new monthly record in April, moving 107,475 TEUs, and surpassing the previous record of 106,565 TEUs set in October 2023. Felipe Fioravanti Kaufmann, Director of Business Development and Customer Experience at the Brazilian port, believes these numbers confirm the growing importance of the Terminal as a logistics option for the market. "We were the private terminal that grew th
Port of New York and New Jersey surpasses 2 million TEUs in first three months The Port of New York and New Jersey handled 701,648 TEUs in March bringing the first quarter total volumes to 2,001,449 TEUs, translating to a 12% percent growth from the same period in 2023. This increase in volume is due to manufacturing restarting overseas following the Lunar New Year holiday, according to the Port Authority of New York & New Jersey. Imports rose by 23.5% in March totaling 353
ICTSI increases first-quarter revenues amid stable box volumes Global port and terminal operator International Container Terminal Services, Inc. (ICTSI) reported 3.1 million TEUs in the first quarter of 2024, retaining relatively the same container volume as the previous year's first quarter. Additionally, the company reported revenues of around US$640 million, translating to an 11% increase from the same period last year, while its earnings before interest,
BG Freight Line unveils new green vessels BG Freight Line has unveiled its greenest ships that will help its customers reduce their carbon emissions. The four new ships will use a state-of-the-art scrubber to catch CO2 and sulphur particles and will have increased cargo capacity that will result in a lower carbon footprint per container. They are also equipped to handle biomethanol, allowing them to be powered by this sustainable fuel so
Efficient shipping using Bulk Bags and Liners The shipping industry moves lots of goods every year. They transport things like liquids, food, chemicals, and animals. This means they need to be careful when moving large amounts of material. They choose special containers and bags for this. Two common materials used are bulk bags (also called FIBCs) and liners. The bulk bag industry is expected to grow from $3.1 billion in 2023 to $5.2 billion
New CEO at London P&I Club after 15 years The London P&I Club has announced that Ian Gooch will be stepping down during the year from the role of Chief Executive Officer after 15 years as CEO and 21 years as a Director of A.Bilbrough & Co., the Company that manages The London P&I Club, a marine mutual liability insurer in the United Kingdom providing Protection and Indemnity (P&I) insurance for the global shipping industry. Subject to re
Leading port operators to significantly invest in Chittagong Bay Terminal project AD Ports Group will invest around US$1 billion in the under-construction Bay Terminal in the port city of Chittagong, Bangladesh. A four-member team of the Dubai-based port group is scheduled to visit Bangladesh on 13 May to discuss the investment project with the Chittagong Port Authority (CPA). The two sides are expected to sign a memorandum of understanding on the investment plan on 16 May. A
Boxship sales reach levels not seen since 2022 Clarksons' April report said that secondhand boxship sales reached a two-year high in the first quarter of 2024, with 241,000 TEUs changing hands. The world's largest shipbroking group said that sales activity was pronounced in the 8,000 TEU to 12,000 TEU size range, accounting for 40% of all capacity sold. Clarksons remarked, "Buyers in the Far East and Europe have scrambled to lock-in much soug
International Seaways swells LR1 orderbook US tanker owner International Seaways has expanded its orderbook of LR1 newbuilds in South Korea to six vessels. The New York-listed firm said it had declared options for two additional scrubber-fitted LNG-ready 75,000 dwt product carriers for delivery in the third quarter of 2026. The Lois Zabrocky-led owner and operator of 81 ships contracted four ...
New chief executive for Stainless Tankers Stainless Tankers of Norway is set for a leadership change later this year. The Oslo-listed outfit backed by UK-based Tufton Investment Management will be headed by Tufton's chief executive, Andrew Hampson, after Alex Karakassis steps down on June 30. "I would like to pass on my sincere thanks on behalf of the entire board for ...
Christen Sveaas takes over as Siem Offshore chairman Norwegian investor Christen Sveaas has taken the reins at Norwegian OSV player Siem Offshore. Sveaas has become the chairman of the Oslo-listed company following the exit of its founder and now ex-chairman, Kristian Siem. The tycoon, via his investment vehicle Kistefos, bought into Siem Offshore in May 2022, becoming the company's second-largest shareholder with a ...
Costamare-backed Neptune Leasing expands into Asia Harris Antoniou-led Neptune Maritime Leasing has expanded its operations into Asia and appointed a leading man for the region. The maritime leasing platform hired former ABN AMRO man Chih Keong Kwek as the director of origination in Asia with a base in Singapore. "We are pleased to announce the expansion of our services to Asia ...
Flex LNG's new charter ensures full fleet charter coverage for 2024 John Fredriksen-backed Flex LNG has won a new time charter agreement with an undisclosed client for one of its LNG carriers. The client, described only as a large Asian LNG importer, hired the 173,400 cu m LNG carrier Flex Constellation for 312 days. The charter began on Monday, May 7, and will last until the ...
Diamond Offshore seals deal to market three drillship newcomers Diamond Offshore has secured rights to market three new 7th-generation drillships. The Houston-based drilling contractor has sealed a deal with the owner of West Dorado and West Draco (Pictured) to market the rigs in Brazil, Latin America, West Africa, Malaysia, and Indonesia. The rigs were picked up from Samsung Heavy Industries last year by Eldorado ...
Two more MSC ships targeted by the Houthis Two more boxships belonging to Mediterranean Shipping Co (MSC) were attacked by the Houthis yesterday with Splash estimates now suggesting the number of merchant ships targeted in the region since November last year is closing in on 100 ships. The MSC Gina and MSC Diego - both around 4,000 teu in size - were targeted, ...
Intermarine makes dry bulk debut US MPP operator Intermarine has moved into the dry bulk segment with the launch of Intermarine Bulk Carriers. The newly founded business will commercially manage six bulkers from parent Harren Group with a combined 350,000 dwt. Forging ahead, the Houston-based outfit, part of the JSI alliance, will offer MPP vessels as well as ECO OHBS ...
Seadrill nets new deals worth $128m for drillship tandem Offshore rig operator Seadrill has won one new contract and one contract extension for two of its drillships. The West Capella secured a one-well contract in South Korea, with an estimated duration of 40 days, valued at approximately $32m. The deal includes a mobilisation fee of around $10m but excludes fees for additional services. The ...
Olympics fever sweeps across CMA CGM and Marseille Having taken Chinese president Xi Jinping to a snowy peak in the Pyrenees yesterday, Emmanuel Macron makes his way to Marseille today where Olympics fever is set to step up a gear with the arrival of the official flame. CMA CGM, as official logistics partner for the games, which kick off in 79 days, has ...
Cambodia presses ahead with canal project linking the capital with the Gulf of Thailand Cambodia is pressing ahead with a canal that will cut its reliance on Vietnamese ports. The 180 km Funan Techo Canal has Chinese backing and will connect Phnom Penh Autonomous Port with Kep and the Gulf of Thailand (see map below). The $1.7bn canal would begin at the Takeo Canal of the Mekong River, pass ...
IKEA selects Hapag-Lloyd for biofuel shipments Hapag-Lloyd has entered a cooperation with IKEA to use biofuel for shipments from Asia in a year's trial period, something the Scandinavian retail giant estimates will slash CO2 emissions by around 100,000 tonnes. IKEA's goal is to reduce the relative GHG emissions from their product transportation by 70% by 2030 and to only use zero ...
Making data actionable: Geneva Dry workshop has plenty of advice After the first session of the inaugural Geneva Dry conference chewed over digital efficiency drivers across the dry bulk supply chain, the second session of the day followed a similar - digital - path and looked at how large amounts of shipping data could be turned into actionable solutions. The session was opened by its ...
Use the US Navy's MBSE approach to prevent another Baltimore bridge disaster Dr Corren McCoy, chief data strategist at G2 Ops, an engineering and cybersecurity firm, writes for Splash today. The containership disaster that caused the collapse of the Francis Scott Key Bridge in Baltimore raises serious questions about how to make maritime systems around the world safer. While authorities have publicly ruled out a "deliberate act", ...
Two engineers face US prison sentences for dumping oil off Greek tanker Two ship engineers face potential prison time in the US for violating pollution laws. The US says the two admitted...
Panama Canal rebound continues as transits rise again in April An increasing number of VLGCs are transporting US LPG to Asia via the neopanamx locks, while the panamax locks are...
Age is just a number? Seaways' older MRs generating strong rates as company handily beats expectations International Seaways sailed to another strong quarter, handily beating analysts' expectation. The company's older MR tankers generated strong earnings and Seaways...
'Euronav 2.0' bolsters dividend payout as transformation continues The new incarnation of Euronav has reported its first quarterly results as a diversified shipowner focused on sustainable-fuel newbuildings. There...
Big vehicle carrier orderbook is needed, says Wallenius Wilhelmsen's Kristoffersen 'Market analysts are concerned at the substantial orderbook which is approaching 40% of fleet capacity on the water. Our view...
Döhle family takes Braemar stake Investors cite 'attractive' valuation for London tanker shop, as it bounces back from probe into historic tax payments and share...
Record boxship capacity already delivered in 2024 A low demolition rate means the world's container fleet has already grown significantly in 2024, on top of growth recorded...
Shell to sell Singapore refinery to Glencore joint venture Shell's Pulau Bukom refinery is an important bunker fuel supplier for the Singapore market
Tianjin lures owners with cheaper yuan loans for foreign flag ships The dollar income must be paid to special-purpose vehicles' accounts, subject to China's foreign exchange regulation
Cosco insists on exclusivity status despite Peru terminal backlash Cosco Shipping Ports has proposed the Peruvian government to open an 'institutional dialogue channel to resolve the controversy'
Gooch steps down at London P&I Club 'Time is right to step aside,' says chief executive
Torm steps back from sale and purchase market after flurry of deals Torm chief executive Jacob Meldgaard is comfortable with the company's fleet composition following the expansion of its LR2 fleet and...
Weather holds up US floating pier operation to deliver aid to Gaza Construction of the piers are complete, but rough seas have prevented them from being towed into position off the coast...
Strong tanker and bulker rates boost Adnoc first-quarter revenues Adnoc Logistics & Services continued its fleet expansion strategy with new LNG carrier orders, after it took delivery of four...
Two MSC vessels the target of missile attacks in Gulf of Aden Several MSC ships have been targeted in the Red Sea and western Indian Ocean in recent weeks, alongside the hijacking...
Daily Briefing EU tentatively targets Russian LNG | Maersk justifies more rate hikes amid analyst doubt on Asia-Europe capacity loss | Baltimore...
Strong consumer spending drives another import upgrade from US retailers The National Retail Federation has once again increased its forecast for imports into the 2024 peak shipping season, saying consumer spending remains strong despite geopolitical turmoil and stubbornly high inflation.
MPV carrier Intermarine broadens focus to bulk shipping The Houston-based company expands to 30 vessels as it takes on management of six Harren Group bulkers and adds two more MPV ships to its fleet.
US import dynamics illustrate mobility, and volatility, of IPI: analyst Changes in container volumes arriving in a particular port are driven by general economic conditions affecting the overall level of imports and the choice of that port as the import gateway for inland regions, writes analyst Larry Gross.
Vancouver works through rail dwell woes while warily eyeing labor talks Terminal operators in Vancouver are bracing for a possible strike by railroad conductors and engineers later this month just as the terminals are beginning to experience reduced rail container dwell times.
Import demand, weather strains already stretched shipping system The strains to the extended container shipping system amid the ongoing Red Sea disruption are showing again, largely due to higher-than-expected demand in Europe and the US for Asia imports.
IKEA signs up to use Hapag-Lloyd's green shipping product The Sweden-based home furnishings giant expects the green transport option to reduce CO2 emissions from its Asian imports by 100,000 tonnes.
Shipbroker Ifchor Galbraiths plots expansion of new tanker desk in Singapore Veteran broker Bruno Bai explains how merged company is looking to match the best of East and West at Asian tanker stronghold
Genco Shipping bests George Economou in recommendation of key advisory group Greek magnate has 'failed to articulate a compelling case for change' in proxy fight
Genco Shipping reports in-line earnings and another dividend in stronger first quarter Fixtures in current quarter firm slightly to top the $20,000 per day mark
Ardmore buys back product tanker duo from lease financier CMB New York-listed shipowner also extends contracts on chartered-in trio
International Seaways talks about the 'problem' with its older MR tankers Management also dishes on the LR1 newbuildings headed for profitable South American trade
Revealed: Which listed dry bulk owners are outshining the charter market and who is falling short This week's Streetwise looks at why public owners may be doing better in freight markets than financial ones
First cargo from New Fortress FLNG unit delayed until June New York-listed company says repairs to vessel's damaged cold box will be completed by the weekend following pipe blowout
Nakilat fleet boosted to 105 LNG carriers with nine QatarEnergy QC-Max vessels Middle East producer puts a name to ownership of remaining newbuilding giants
Stena Line goes for additional decks to improve ro-ro efficiency Additional deck adds 30% to cargo capacity and meets future efficiency requirements
'Hard to be negative': Euronav targets $1bn in new contracts before 2025 CEO Alexander Saverys bullish about markets on earnings call - barring container ships
Ardmore Shipping reports bigger-than-expected profit as second-quarter numbers show strength MR product tanker rates expected to rise to $40,500 per day in the second quarter
International Seaways tops earnings bets with another strong quarter Diversified New York tanker outfit churns out another big dividend while pursuing fleet renewal
Odfjell shares rally as owner revels in shipping disruptions and record quarterly result Chemical tanker owner's first quarter earns rave reviews from analysts
Red Sea and Panama squeeze pushes d'Amico International Shipping profit higher Chief executive Carlos Balestra di Mottola says supply and demand favour long-term fundamentals
'Solid pricing': Torm eyes secondhand tanker deals with newbuildings off the menu Danish boss says company likes to do secondhand business, but newbuildings will not be ordered
AG&P LNG set to tap market for LNG commissioning cargo for Vietnam terminal Company being approached by 'multiple developers' to provide FSRUs
Seafarers face jail after admitting dumping oily waste from Greek tanker in US Engineers from Avin International's Kriti Ruby could also be fined after offences in New Jersey
Bumper Belships payout 'positively surprises' analysts as owner beats estimates Supramax and ultramax owner comfortably surpassed estimates, despite an Ebitda miss
'Trifecta of bearish news for dry bulk': Himalaya Shipping stock downgraded Newcastlemax owner has boosted its monthly dividend for April
How Emanuele Grimaldi banked a handsome payday from Gram takeover as part of 'lucky' car carrier investments Italian shipowner discusses how a swoop by Gianluigi Aponte had a positive impact on his own finances
Houthis may now 'have a taste' for maintaining profile on world stage, Torm chief says Jacob Meldgaard less confident of seeing a swift end to attacks on ships
Scrubbers on ships have caused €680m in toxic damage, study claims Research adds weight to argument for ban on open-loop scrubber use
Christen Sveaas takes over as chairman at Siem Offshore after fleet split After ousting Kristian Siem, magnate takes control of board
MPC Capital lifts bottom line 58% on back of Zeaborn deal Company completes acquisition of German ship manager and eyes green shipping opportunities
Wallenius Wilhelmsen sold out of ships amid tight car carrier market Oslo-listed owner earning higher rates as contract renewals continue
Tufton boss Andrew Hampson takes over at Stainless Tankers as CEO Alex Karakassis quits Oslo-listed owner says company is in good hands with experienced executive from big backer
Flex LNG hoists 'sold out' sign for 2024 as it fixes redelivering vessel Asian charterer snaps up five-year-old, two-stroke ship in one-year deal
Avance Gas extends VLGC deal as spot rates spike from Middle East Gulf John Fredriksen company adds another year to charter with energy major
EU sanctions come into sharper focus for Russian LNG Member states to discuss proposals including vessel targets
Adnoc L&S raises 2024 revenue forecast on back of strong first quarter Middle East giant reports strong revenue growth for all ship types except gas carriers
Torm reveals tanker sale as profit soars in product market set fair for three years Danish product owner bullish on medium-term prospects due to fundamental changes in refining capacity
Newcastlemax sales boost 2020 Bulkers first-quarter fortunes Further gains from the sales will be recognised next quarter
Euronav logs massive $495m profit as it reports bulker and boxship earnings for first time Saverys-controlled tanker owner completed CMB.Tech takeover and banked huge ship-sale gains in first quarter
Costamare leasing arm expands in Asia with former ABN Amro man Neptune Maritime Leasing sets up shop in Singapore with veteran corporate banker Chih Keong Kwek
Belships reveals Lighthouse price tag and hikes dividend payouts Results shed more light on Lighthouse Navigation transaction announced last week
Intermarine to manage Harren Group bulkers as it jumps into dry cargo trade Company says move will open up completely new markets and customer groups
Capesize market hits six-week high as rates rocket in the Atlantic Market is back in full swing after the Orthodox Easter holiday
Major Maersk container ship order stalls as Evergreen inks contract in China after yard beauty contest Taiwanese company is ordering methanol dual-fuel feeder vessels
Intermarine to manage Harren Group bulkers in move into dry cargo trade Company says move will open up completely new markets and customer groups
LPG carrier newbuilding orders continue to set new records, says Clarksons The cost of a newbuilding VLGC has increased by over 50% since early 2021 to $118m
Start-up Nautisense launches from Singapore incubator to offer deep AI in maritime Company's MantaMind can be deployed in the cloud, on a tablet, on a ship or in the office
ABX pilots win back Amazon business with power of positivity ABX Air's pilots union is out of Amazon's doghouse, resulting in an improved labor agreement and a contract to fly 10 freighters.
New shipping routes highlight growing Asia-to-Mexico trade Global ocean carriers are targeting the growing trade from China to Mexico with new express services.
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