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JUNE 10, 2024

APSEZ bags five-year O&M contract for container terminal at Kolkata's Syama Prasad Mookerjee Port India aims to strengthen strategic engagement with IMO Baltic Exchange Market Report (7 June 2024) Kenshine Group launches LCL consolidation services Bahri concludes participation at Posidonia 2024, showcasing world class capabilities and solutions India's retail market seen at $2.2 trn by 2030: Report Call for country to diversify agri export basket India awards 412,000 tonnes of green hydrogen manufacturing tenders MSC launches Carioca standalone service connecting Asia to South America East Coast US FMC seeks public comments on new Maersk & Hapag-Lloyd cooperative agreement Suez Canal Authority extends validity of certain rebate circulars NHAI invites Global Expression of Interest for implementation of GNSS-based electronic toll collection in India

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JUNE 10, 2024

Craiss expands international services Resilinc appoints first chief AI officer Volumes and rates from Mesa and Apac still rising Lagos-Kano rail line reopens for traffic Bertling's airfreight additions UIRR strengthens leadership A shortage of skilled labour in maritime sector Re-certified and ready to go Two more Gamas for cross-border transports A taste of Thailand Good news for ammonia-powered ships Transporting humanitarian aid to Gaza "Curiosity of the Day" Copper shifted from road to rail Joining the French cold chain MSCAA family mourns Larry Cox New MSC loop links Asia with Liverpool

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JUNE 7, 2024

Spot rates ex-China set to hit five figures - high street prices will rise, warning Maersk reports 'substantial delays' after Czech rail crash Wan Hai and Cosco launch more transpacific services as rates soar Healing SATS at 52-week highs - worth a look Second bridge disaster averted, as Baltimore prepares to reopen shipping channel FMC's new rules on D&D don't address 'the elephant in the room' Asia-Mexico box services up, while rail plans focus on different border points Liverpool wins direct Asia call with MSC's new Britannia service Pall-Ex Group - crowd-sourced integration begins A Q&A with Lothar Moehle: 50 years in logistics Supply chain talent crisis - from frustration to career paths via learning Why America needs the Jones Act

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JUNE 7, 2024

VIDEO: Ingalls Shipbuilding prepares for hurricane season With NOAA predicting an above-normal 2024 Atlantic hurricane season, shipyards along the U.S, Gulf and Atlantic coasts have been stepping up their preparatory efforts. This week, HII's Ingalls Shipbuilding division in Pascagoula, Dutch Dredging orders new 2,300 cubic meter TSHD Sliedrecht, Netherlands, headquartered Baggerbedrijf de Boer - Dutch Dredging BV has awarded Royal IHC a contract for the design and construction of a custom-built trailing suction hopper dredge (TSHD) with a hopper

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JUNE 7, 2024

Containers rolled as spot rates climb to dizzying heights Container rates continue to soar with shippers increasingly anxious about cargoes being rolled. The Shanghai Containerized Freight Index (SCFI), out today, was up by another 140 points to 3184.87, its highest level since August 2022, while Drewry's composite World Container Index, published yesterday, jumped 12% to $4,716 per feu, up 181% compared to the same ... Consortium proposes $2bn port development in Vietnam A consortium consisting of Vietnamese State Capital Investment Corporation (SCIC), Hanoi-based Geleximco Group, and Ho Chi Minh City-based International Transportation and Trading (ITC) plans to build a cargo port in Ba Ria in southern Vietnam. The cargo port, with an estimated cost of VND 50.82trn ($2bn), will be done in two phases. According to the ... Dali owner hires lobbyists in Washington to quash changes to America's Limitation on Liability Act of 1851 Concerned about the immense scale of damage claims coming its way, the owner of this year's most infamous ship has hired lobbyists in Washington to try and ensure American politicians do not tinker with the country's liability laws. Citing federal lobbying records, the Baltimore Sun is reporting that Grace Ocean, the Singapore-based owners of the ... UK to miss 2030 offshore wind goal by 18 years, study claims The UK-based Institute for Public Policy Research (IPPR) stated in a new paper that the country will miss its 2030 offshore wind target by an entire generation, at the current pace of installation. The think tank said that the UK was also currently missing out on thousands of jobs and billions for the economy due ... All eyes on AI We quiz top names on what tech breakthroughs the industry might see in the coming 12 months in the concluding chapter of our shipmanagement magazine. Digitalisation is no breakthrough anymore, says Tim Ponath, CEO of Germany's NSB Group, but it has by far not yet reached the end of its effectiveness. Artificial Intelligence and other ... Idan Ofer cuts ZIM exposure Kenon Holdings, controlled by major shipowner Idan Ofer, has sold 5m shares of Israeli carrier ZIM as well as entering into a collar to potentially sell a further 5m shares. Following the official 5m share sale for $110.6m, Kenon's stake falls from 20.6% to 16.5%. The collar transaction has a two-year term with settlement either ... Russia and China to form Arctic liner Russia is pressing ahead in a project with the Chinese to make all-year container shipping voyages along the Northern Sea Route (NSR) possible. Rosatom, which oversees the NSR, and China's NewNew Shipping are forming a joint venture to develop a fleet of five ice-classed boxships which will work all year round. NewNew has already completed ... Transocean to take full ownership of Transocean Norge semisub A joint venture between Swiss-based offshore driller Transocean and UK investment platform Hayfin Capital Management owns the 6th generation harsh-environment semisubmersible rig Transocean Norge. The offshore driller owns 33% of the joint venture while Hayfin owns the remaining 67%. Earlier this week, Transocean entered into a non-binding letter of intent with certain funds managed and ... GTT readies to start selling new gas containment system The world's dominant gas containment system provider for the LNG shipping industry is ready to start selling a new kit. France's GTT has got all the necessary approvals for its NEXT1 LNG cargo containment system, officially sealed at this week's Posidonia event in Athens, and the technology is now ready for commercial deployment. GTT NEXT1 ... Noble wins $177m drillship extension from Murphy Oil Offshore drilling giant Noble Corporation has secured more work for its drillship Noble Stanley Lafosse in the Gulf of Mexico. Arkansas-based oil and gas exploration firm Murphy Oil has exercised its option to drill five additional wells in the Gulf of Mexico. This extension is expected to span one year and has an estimated contract ...

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JUNE 7, 2024

Dark fleet tankers shipping sanctioned Russian oil set fresh record over May The percentage of tankers insured with the 12 clubs that comprise the International Group of P&I Clubs was 37%, measured... Attacks on shipping 'unacceptable', say Greek owners Owners are ready to invest in technology to help reduce carbon footprints, but this hinges on the ability of others... Türkiye's oil imports from Russia hit all-time high with record crude volumes Turkish diesel exports to EU countries slowed in May after reaching an all-time high in March Tacoma, New York and Long Beach drive continued US container import growth The latest figures from Descartes show healthy growth among US container imports, with the vast majority of goods still entering... Singapore escrow agents feel the heat as focus on tanker sales intensifies Analysis of collated bank transactions obtained by Lloyd's List shows that Theo Sioufas has handled a string of transactions in... Bulker reports suspicious approach off Mogadishu The incident took place just over 100 nm from where Basilisk was boarded two weeks ago, as is 'likely' by... ProMarine signs agreement to underwrite for Allianz Products to include marine hull, protection and indemnity, general liability and employer's liability Stop trying to make future fuels not happen The debate on measures already agreed is not going to be reopened, whatever certain shipowners were telling themselves at Posidonia... Bridge over troubled waters The two countries' interests appear increasingly aligned as shipping grapples with a raft of huge challenges, including the climate crisis... The Lloyd's List Podcast: Has shipping replaced ambition with pragmatism? Is the outbreak of pragmatism at Posidonia this year a genuine shift towards a more realistic conversation and a long... Asian container ports the most efficient in the world Big movers in the annual efficiency report included Visakhapatnam, India, which broke into the top 20 from outside the top... Ukraine's seaborne trade faces uncertain outlook Ukraine has successfully reinstated it maritime trade, tonnage is available and shipowners are willing to sail the Black Sea. But... Decarbonisation is in a 'valley of death' In an interview, the chief technology officer of the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping says the industry... Russia and China to form Arctic container line The agreement comes amid growing interest in the northern sea route from China and gives the Chinese government a role... Seven injured in explosion at Sanoyas shipbuilding plant in Osaka Seven employees were injured but remained conscious, no fatalities reported Panama Canal transits stalled in May but water level is slowly rising Rhetoric on the Panama Canal has taken a major positive turn. Authorised draught is up, reservation slots have increased and... TS Lines orders largest boxships yet amid surging rates Company now has six ships - two 14,000 teu and four 7,000 teu - on order, all with CSSC's Shanghai... Daily Briefing Shippers cry foul again as container rates approach pandemic peaks | Subsidies a must for EU emissions regulations to hit...

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JUNE 7, 2024

US trucking hiring falters in May on low freight demand Last month's actual trucking employment gain was lower than expected, as the US economy added more jobs in service industries such as hospitality and healthcare. Project cargo as measured by volume means greater pull on capacity Often oddly shaped or very heavy, project cargo does not necessarily consume all the deadweight space on a given vessel. Saia still benefiting from Yellow's collapse as US LTL market resets Saia's 18.6% year-over-year gain in LTL shipments in May underscores the ongoing impact of Yellow's bankruptcy, while larger ODFL reports smaller "Yellow-free" gains in volume. Ocean disruption modal shift puts air cargo on course for solid 2024 Cargo owners battling to find space on ships filled by an unseasonal demand surge are taking all available air freight capacity out of Asia, the Middle East and India, with rate levels rising accordingly.

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JUNE 7, 2024

Teekay said to sell oldest suezmax tanker as values hover near nine-year high Canadian tanker owner's nearly 19-year-old ship worth three times estimated demolition value Editor's selection: Big deals and major lessons from a Posidonia touched by tragedy These are some of the best stories coming out of a huge week for shipping at Posidonia Wavelength podcast: Dark dangers of the shadow fleet and Panama Canal's plans to get more water Speakers at the TradeWinds Shipowners Forum begin raising safety alarm over the ageing dark fleet Blank Rome adds new shipping partner Luke Reid from K&L Gates Law firm says recruit will boost team in new Boston office Paradise Navigation appoints Matthew Los as it targets expansion Matthew Los takes over leadership role with brief to open company to third-party management TradeWinds brings together queens and kings of Posidonia at beach party Queens of Posidonia event aimed to bring together women and people new to shipping at an informal party Shipbroker dies in road accident during Posidonia week Italian shop says sale and purchase broker will leave a void that it cannot describe Dorian LPG prices share offer as investors send $2bn stock down 10% Market reacted negatively to announcement of big share issue on Wednesday Russia's Sibur seals fresh LPG carrier charters after Navigator deals expire UAE and Turkish owners said to have stepped in to boost exports from Ust-Luga Fleet capacity still 'limiting factor' for car carrier owner Hoegh Autoliners Norwegian company reports stable performance in May as contract business share rises Chios Navigation expands fleet with tanker and bulker newbuildings Low-profile Caroussis family doubles its orderbook to six vessels with deals at Hyundai Vietnam and Imabari Russian exports from Yamal LNG rise as EU mulls sanctions Center for High North Logistics figures show transshipments off Kildin Island are underway Risk, technology and safety: Why class society is staying mum on future fuels Owners can not expect classification societies to make all their fuel choices for them, says Paillette Palaiologou USTC sets up $7.3m fund to help Danish village hit by waste landslide Tanker and bunker group explains how it will help residents of Olst after environmental disaster Russia's Novatek moves 200 workers to Zvezda yard in bid to complete Arc7 LNG carriers Russian gas producer combats staff shortages to get its hands on much-needed ships Chinese shipowner EGPN ramps up orders for chemical tankers Company pockets $8m profit from bulk carrier it bought a few months ago Russia and China strike fresh deal to drive year-round container shipping through the Arctic Agreement with NewNew Shipping includes joint venture to design and build ice-class boxships Great Eastern strikes again with deal to buy MR tanker after earlier sale Indian owner says its fleet is operating at nearly full capacity Stefanou brothers snap up Laskaridis panamax trio in all-Greek deal Siblings continue bulker push with fresh buying burst that brings their fleet to 30 ships Greek shipowner Performance fixes LR2 tanker to trading giant Trafigura Owner takes short-term cover to keep product carrier free for later in the year Himalaya to boost dividend payments as last newbuilding joins fleet Norwegian owner will have 12 'state-of-the-art' newcastlemaxes in operation this month Chinese shipowner EGPN ramps up chemical tanker newbuilding orders Company pockets $8m profit from bulk carrier it bought just a few months ago Second Sinokor-linked ship detained in UK over failed PSC inspection South Korean shipowner has now had three tankers stopped for safety failings in European ports this year GTT ready to roll with new LNG cargo containment system Bureau Veritas and Lloyd's Register give approvals for latest membrane offering