DeepOcean has big plans for Island Offshore vessel after major conversion Mystery solved. Oslo-headquartered subsea specialist DeepOcean is the company taking Island Offshore's Island Condor on a long-term charter that will commence in the third quarter this year after the vessel emerges from
Chevron appoints new general manager for marine business Chevron, one of the major energy companies in the world, announced the appointment of Ayten Yavuz as the new general manager for its Global Marine Products business. With an extensive background spanning several years in both the industry and the company, Ayten Yavuz brings a wealth of experience and expertise that will play a crucial role in advancing and expanding Chevron's projects, according
Strike action in Germany to cause inland transportation issues The Trade Union of German Locomotive Drivers GDL will go on strike from 10 to 12 January. "GDL members at Deutsche Bahn AG, Transdev and City Bahn Chemnitz have been asked to stop work from 10/01/2024 at 02:00 a.m. to 12/01/2024 at 06:00 p.m. The work suspension at DB Cargo begins on 09/01/2024 at 06:00 p.m.," said a statement. The locomotive drivers of METRANS are not organised in the GDL, while
ZIM to deploy tracking devices on its containers ZIM Integrated Shipping Services has entered into an agreement with Hoopo Systems for the extensive deployment of advanced tracking devices across its dry container fleet. According to the company's statement, this move positions the Israeli ocean carrier at the forefront of technological innovation. "We are delighted to witness the fruition of our investment in Hoopo's unique technological solut
Maersk Tankers takes over Penfield Marine to create large-scale crude and product tanker company Maersk Tankers has completed the acquisition of Penfield Marine, creating a large-scale crude and product tanker company offering pool partners and cargo customers a wider range of services. The newly merged entity will manage approximately 240 vessels, including around 45 vessels owned by affiliated companies. The transaction was completed on 2 January but the two parties have not disclosed any
OOCL revenues plunge in 2023, amid solid container growth COSCO-owned Orient Overseas Container Line (OOCL) has seen a huge 49% decrease in its fourth quarter revenues, compared to 2022 Q4, reporting US$1.62 billion. In the same period, OOCL's total liftings increased by 7.2% and the loadable capacity increased by 9.1%, while the overall load factor was 1.5% lower than in the same period in 2022. As a result, the overall average revenue per TEU decrease
Maersk announces new peak season surcharges worldwide Maersk has unveiled new peak season surcharges worldwide, which are going to take effect in January and February. The Danish ocean carrier is introducing a Peak Season Surcharge (PSS) as per the below table with the effective date of 8 January, excluding Vietnam and Taiwan. The surcharge from Vietnam to West Africa will be effective on 18 January and the surcharge from Taiwan to West Africa will
80% of all container ships on Suez route divert to Cape of Good Hope The number of container vessels that have re-routed via the Cape of Good Hope due to the Red Sea crisis has risen to 354 units as of 7 January, according to the latest Linerlytica report, translating to 4.65 million TEUs or 16.4% of the global fleet. This number also accounts for 80% of all the boxships moving between the Atlantic/Med basins and the Indian Ocean. The number will continue to grow
PSA Mumbai achieves milestone as India's first box terminal running on 100% renewable energy PSA Mumbai has marked a significant milestone in its commitment to reducing emissions by becoming India's first container terminal fully powered by renewable energy. The commissioning of its 7.8MW solar farm in collaboration with O2 Power is an important achievement. Scheduled for expansion to 10MW by June 2024, the solar farm is set to meet more than 75% of PSA Mumbai's electricity needs. The re
Fire on boxship in Houston kills two seafarers, injures one Two seafarers died and another crewman was hurt after a fire broke out in the engine room of the 2,174 TEU container ship Stride. COSCO Shipping Lines had chartered Stride from Danaos Corporation to operate a service connecting the US port Houston with Guatemala, Honduras and Colombia. The service, launched in June 2021 to target reefer cargoes, is jointly operated with CMA CGM, which contributes
Air Liquide partners with Porthos for innovative CO2 capture and storage initiative Air Liquide has revealed plans to construct a carbon dioxide (CO2) capture facility, utilizing its existing hydrogen plant in the port of Rotterdam. The company will employ CryocapTM, an advanced technological solution for CO2 capture that relies on a cryogenic process. The captured CO2 will be transported via the Porthos infrastructure and securely stored in depleted gas fields beneath the seabe
Port of Tanjung Pelepas appoints new CEO Mark Hardiman will be the new chief executive officer (CEO) of Port of Tanjung Pelepas (PTP), the major container port of Malaysia. Hardiman, who has served the role of CEO at Port of Salalah in Oman, will replace Marco Neelsen, who steps down from the role after seven years. Commenting on his new role, Hardiman said, "I am honoured to be part of PTP, an established regional transshipment hub wit
Port of Long Beach appoints new division directors The Long Beach Board of Harbor Commissioners approved the appointment of directors in two divisions of the Port of Long Beach, the Program Management Division and the newly established Central Procurement Services Division. Monique Lebrun, who has been serving as the Port's assistant director of Program Management since December 2022, is set to ascend to the role of director of Program Management
COSCO halts shipping to Israel, Israeli media reports Chinese container giant COSCO has decided to suspend shipping to Israel, according to Israeli financial news website Globes. The report did not include any more details about the reasons that led COSCO to that decision. The Chinese shipping company, which is the fourth largest box carrier in the world, has not confirmed the decision yet. The post appeared first on Container News .
CMA CGM reshuffles service linking Türkiye, Adriatic, Malta and Libya CMA CGM - Short Sea Lines Division has announced the reshuffling/merge of its TMX 3 and ADRINAF services, effective from the second week of the year, between Türkiye, Adriatic, Malta and Libya. The French company said the revised weekly service will address the Adriatic market to/from worldwide and will enable to maintain a sustainable maritime bridge between North Türkiye and the Adriatic region
Port of Tanjung Pelepas and Mitsui sign deal for 48 electric RTG cranes The Port of Tanjung Pelepas (PTP), a joint venture between the MMC Group and APM Terminals, signed a deal with Mitsui E&S for the acquisition of 48 electric rubber tyre gantry cranes. The signing ceremony, held at PTP on 20 December 2023, involved PTP CEO Marco Neelsen and Mitsui's general manager of the sales department in the logistics systems division Atsufumi Takahashi. Both parties aim to es
Diana Shipping secures charter extension from Cobelfret New York-listed Greek bulker owner Diana Shipping has extended the time charter contract for one of its post-panamax bulkers. Diana Shipping agreed on an extension for its 2012-built, 98,697-dwt dry bulk vessel with Cobelfret. The original deal for the bulker started on November 10, 2022. The charter was supposed to fix the vessel to Cobelfret ...
DeepOcean emerges behind Island Offshore's OSV conversion deal Norwegian contractor DeepOcean has emerged as the charterer of Island Offshore's 2014-built Island Condor which is set for conversion into a battery-powered construction support vessel. The vessel, expected to further bolster DeepOcean's subsea offering within offshore renewables and oil and gas, will be converted at Myklebust Yard and delivered in September 2024 as Island Ocean. ...
Nakilat orders six gas carrier newbuilds in South Korea Qatari LNG shipping giant Nakilat is expanding its fleet with six gas carrier newbuilds at Hyundai Samho Heavy Industries in South Korea. The Doha-based shipowner has placed orders for two 174,000 cu m LNG carriers and four 88,000 cu m LPG/ammonia carriers. Nakilat said the ships will feature the latest technologies, showcasing advanced environmentally friendly ...
HitecVision sells offshore services player Moreld to McIntyre Partners Norwegian private equity group HitecVision has sold offshore energy and marine services business Moreld Group to UK's McIntyre Partners for an undisclosed sum. Moreld, which provides services to a range of blue-chip clients such as Equinor, Vår Energi, Aker BP, Total Energies, Shell, ExxonMobil and Chevron, had an estimated combined revenue of $484m in 2023. ...
Naval assets - including from Iran - build up in the Red Sea More nations - including Denmark, Pakistan and Sri Lanka - are sending naval assets towards the Middle East as pressure grows on the Houthis to rein in their attacks on merchant shipping in the southern Red Sea and the Gulf of Aden. Of concern, however, are a trio of Iranian naval ships that have started ...
Noble's strong January start continues with new jack-up deal Offshore driller Noble has been awarded a contract with Wintershall Noordzee for the harsh environment jack-up rig to plug and abandon two wells in the Danish North Sea. Noble said via its social media channels that the contract had an estimated duration of 60 days, with an expected start in April. The rig is completing ...
Besiktas targets more product tankers Besiktas Shipping is one of many family-owned Turkish owners throwing cash on the table, bidding primarily for millennium-aged tankers. The Kalkavan family-run outfit was behind seven MR transactions throughout 2023, while sources say it's still in the market for more ships. The active owner has just touched the 30-ship mark for the first time this ...
Port of Tanjung Pelepas names new chief executive Port of Tanjung Pelepas (PTP), Malaysia's busiest transshipment hub, has appointed Mark Hardiman as its new chief executive officer. Hardiman, a former CEO at Port of Salalah in Oman, takes over from Marco Neelsen, who steps down from the role after seven years at the helm. "I am honoured to be part of PTP, an ...
NGM Energy sells suezmax to Pertamina Greek owner NGM Energy, one of the most active Greek owners in sale and purchase, is on the move, starting the year with a sale. Broking sources tell Splash that the Moundreas family has offloaded the three-year-old, New Times-built Bella Ciao. The 157,000 dwt sized suezmax is noted to have sold for $80m, a firm price. Pertamina, Indonesia's ...
Two dead, one injured in boxship fire at Port of Houston Two crew members died, and another was injured when a fire broke out onboard the 2,174 teu containership moored in the Port of Houston. The Port Houston Fire Department responded to a report of a fire onboard the vessel docked at the Barbours Cut Container Terminal. Two ship crew members lost their lives, and another ...
UAE cracks down on Cameroon flag Ships flagged with Cameroon face restrictions when calling in the Middle East. The United Arab Emirates has added the Cameroon flag to its growing list of flag states it has a dim view about. Unless Cameroon-flagged ships are classed by a member of the International Association of Classification Societies (IACS) or by the Emirates classification ...
The crewing Hunger Games Carl Martin Faanessen, CEO of Manila-based Noatun Maritime, has some advice for those looking to sign crewing contracts this year. We are not big on fancy graphics and season greetings here in Noatun. We keep it quiet, preferring instead to
Nakilat inks orders for six gas carriers at Hyundai Heavy Qatar-listed giant Nakilat has ordered four VLGCs capable of carrying ammonia and two LNG carriers from South Korea's Hyundai Samho...
Ships change course in Red Sea amid multiple drone reports Several ships have changed course in the Red Sea amid multiple reports of drone activity about 50nm off Al Hodeida...
Trafigura-led JV backs global adoption of mass flow meters Mass flow meters are mandatory for all bunker deliveries in Singapore, while Rotterdam and Antwerp-Bruges will make them mandatory in...
Dark fleet safe haven Gabon flags 18 Sovcomflot tankers after US imposes sanctions The African nation employs a UAE-based private company to run the registry, with 98% of all tonnage with Gabon now...
Sino-Russian boxships continue using Red Sea despite Houthi threat Claims that Chinese ships are more easily avoiding Houthi attacks remain unproven. However, reports of Cosco recently suspending services to...
VLCC rates surge on US Gulf activity After a softer period in December, earnings for very large crude carriers have surged. Rates have been buoyed by increased...
Limited trade rebound in 2024 ahead of a decade of fragmentation This year will see a modest improvement in fortunes for global trade. But geopolitical pressures will mean changing patterns and...
Greek owners top 2023 chart for new orders Allied research shows more new orders than secondhand deals across the dry bulk, tanker, container and gas sectors during the...
Taiwanese shipbuilder CSBC to raise $63m amid heavy losses CSBC aims to diversify its portfolio after years of significant losses
Stena RoRo adds 13th 'E-Flexer' newbuilding backed by Corsica Linea charter Swedish ro-ro cargo and passenger ferry tonnage provider has added an additional vessel to its flexible ro-pax series, nine of...
Red Sea diversions could add up to $1m per voyage in ETS costs Red Sea disruption to add up to $1m to ETS bills for certain containerships, as faster speeds and longer distances...
Port of Tanjung Pelepas gets new chief executive Hardiman was previously CEO at Oman's Port of Salalah. Like his predecessor, he has also spent part of his career...
Daily Briefing Diversions likely to have only short-term impact of capacity | Containership charter rates up on rising demand for extra loaders...
Ships change course in Red Sea after flurry of missiles seen off Yemeni port Target unknown as warships reportedly 'engage' in incident off Hodeidah
Liberty Green moves into digital space with Renewable Strategy deal Deal shows opportunities beyond hard assets in offshore wind
May the force be with them: Papalekas' Yoda ratchets up holding in Capital Product Partners Cyprus-based firm has wasted no time in doubling down on its support of Evangelos Marinakis' LNG plans
RifLine to continue as tonnage provider after Kalypso collapse But winding up of Italian liner operation was for the best, owner says
Turkish engineer killed after boiler explodes on chemical tanker Helicopter rescue called off after seafarer dies on Besiktas-managed vessel
Nakilat confirms VLAC quartet and LNG duo in $1bn move Qatar's gas shipping company finally jumps into fleet renewal and expansion
Law firm Clyde & Co admits anti-money laundering failures over ship purchase deals Shipping specialist apologises after failing to carry out full due diligence checks during four-year relationship with unidentified client
Floating LNG sector finally counts down for takeoff Raft of new projects queue for berth space as other prepare to kick off production
Boxship bellwether OOCL posts dramatic drop in fourth quarter revenue Cosco-owned Hong Kong line reveals figures showing the container slump continued towards the end of 2023
Profiteering? Container lines hike surcharges as carriers reroute to avoid Red Sea terror Carriers cite higher carbon tax costs but some analysts question whether charges are already excessive
Offshore vessel rates set to hit all-time highs, says Clarksons Sector poised to enter uncharted territory as orderbook remains low
Norwegian shipowner EGD extends Brann football sponsorship to women's team Norwegian company's name will feature on both male and female players' shorts this year
Besiktas product tanker fleet bulges with yet another MR buy Turkish player's expansion campaign is characteristic of keen buying appetite on the Bosphorus
Norway's EGD extends Brann football sponsorship to women's team Shipowner's name will feature on female players' shorts this year
Stena's liquidity hits $2.2bn as it predicts better annual profit Swedish shipowning group says strong trading continued in fourth quarter
Coastal Marine Asia eyes expansion with new hire Expanding hull insurer has taken on a well-known figure in the world of marine insurance
Gasum poised to offer e-methane to maritime from 2026 Nordic company has ambitious plans to advance new business on renewable fuel
'Fake news': Israel-linked shipowner shoots down Indian Ocean missile strike claims Security sources also sceptical of claims made in Iranian media that two vessels were targeted near Maldives
John Fredriksen's Seatankers cashes in PSV pair in profitable sale to Fugro Dutch buyer will convert former resale duo into geotechnical vessels
UAE crackdown extends to fresh flag state popular with shadow fleet owners Cameroon increased tonnage rapidly in 2022 as new owners turned to smaller registers
Red Sea crisis spurs smaller bulker owners to follow capesizes out of trouble spot Braemar charts the change in trading routes as attacks intensify
Greece and China lead the way as shipowners splash $51bn on S&P deals in 2023 2023 was still the third busiest year on record for secondhand sales
Aframax tankers face dent in crude supply as Libya halts production at key oilfield No oil heading to Zawiya terminal since Sunday
Methanol and LNG battle for top spot as the future fuel of choice for shipowners Class society DNV crunches its numbers on alternative fuelling choices in past 12 months
Cutting fuel consumption not enough to meet new EU rules, warns broker Alibra London shop tries to lessen the confusion for owners over new decarbonisation measures
VLGC owners enjoy strong start after best ever year Brokers say vessels still earning up to $137,000 per day from the US
BW LPG commercial head Niels Rigault steps down CEO Kristian Sorensen takes commercial role in the interim
Greek shipowner Moundreas banks huge profit with suezmax tanker sale to Pertamina International Greek owner estimated to have earned about $25m on a single deal with expansion-hungry shipping unit
Cash-rich SFL only gets hold recommendation by Fearnley Securities Coverage re-initiated with $11.50 target price
Pertamina International inks huge deal for 15 product tankers at Hyundai Mipo State-owned company is paying $700m for the contract
'Super' cold snap spurs icebreakers into action as decade-busting winter bites Baltic Long harsh winter expected as Finnish and Swedish icebreakers on full deployment
Oil major Pertamina inks huge deal for 15 product tankers at Hyundai Mipo State-owned company is paying $700m for the
Bunker sector 'rife with questionable practices' needs radical change, says Frontline, Trafigura-backed report White paper written by Adrian Tolson calls for greater transparency in shipping fuel deals
'Robust' S&P volumes fall from 2022 peak as Greece and China drive deals 2023 was still the third busiest year on record for secondhand sales
Aframax tankers face dent in crude supply as Libya halts production at key oil field No oil heading to Zawiya terminal since Sunday
Greek shipowner Moundreas banks huge profit with suezmax tanker sale to oil major Greek owner estimated to have earned about $25m on a single deal with expansion-hungry Indonesian oil major
Suez diversion impact on container sector 'short term', says Deutsche Bank But another researcher says current disruption has bought pressured liner operators some time
Mark Hardiman takes over as CEO at Malaysia's busiest container port New Tanjung Pelepas boss replaces outgoing incumbent Marco Neelsen
Qatar rejects strikes on Houthis as US official says threat to shipping 'has to stop' Blinken makes no mention of potential for US military action
Vortexa raises $34m in funding round led by Morgan Stanley arm Company claims to have doubled its valuation since Series B funding round in 2021 and is close to turning profitable
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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