Newport News Shipbuilding delivers first Columbia-class stern Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division has delivered the stern of the first Columbia-class ballistic missile submarine stern to General Dynamics Electric Boat. Transported on GD Electric Boat's Bollinger-built 400-foot-long
Maersk switches OC1 Panama Canal services to rail "land bridge" While continuing Houthi attacks are having a devastating effect on Suez Canal containership traffic, natural forces, namely drought conditions, are taking their toll on container traffic through another vital maritime artery. Maersk
Deltamarin awarded design contract for new Airbus ships Turku, Finland, headquartered Deltamarin has been selected to design the three wind assisted RO/RO vessels that France's Louis Dreyfus Armateurs (LDA) will operate under a charter from Airbus. The aircraft manufacturer is
Navies swat down Houthi missile onslaught The U.S. Navy and the U.K. Royal Navy have shot down a barrage of Houthi missile and drone attacks launched towards international shipping lanes in the Red Sea by Houthis this morning,
Valenciaport initiates construction of third solar power plant The Port Authority of Valencia (PAV) and Valencia Terminal Europa (VTE), a Grimaldi Group company, officially inked an agreement about the establishment, operation and maintenance of the photovoltaic infrastructure being constructed on the rooftop of the vehicle silo within the VTE concession on the East Dock. Mar Chao, president of Valenciaport, and Antonio Crespo, director of Valencia Terminal
APM Terminals completes land purchase for Suape terminal APM Terminals Suape has completed the purchase of approximately 500,000m², the latest stage in the development of a fully electrified terminal which is expected to boost trade, employment and development in Brazil's northeast. With the finalisation of the purchase of land at the Governador Eraldo Gueiros Port Industrial Complex (Suape), Pernambuco, plans to commence operations in the second quart
Houthi's choice: renounce Israel calls or face attacks Houthi leader Mohammed Ali Al-Houthi has sent a message to vessel operators that the Houthi military will not target any vessels that confirm they will make no Israeli port calls. Al-Houthi told the BBC, "Any country that gets involved with the US-led coalition to protect Israeli ships will lose its maritime security and will be targeted." In a social media message, Al-Houthi had told carriers th
Hapag-Lloyd increases rates from Indian Sub and Middle East to North America Hapag-Lloyd announced a General Rate Increase (GRI) / General Rate Adjustment (GRA) for cargo transported in 20' and 40' dry, reefer and special containers, including high cube equipment, from the Indian Subcontinent and the Middle East to the United States East Coast, West Coast, and Gulf Coast, as well as Canada. This GRI/ GRA applies to all containers gated in full beginning 10 February 2024 a
Maersk charters ships from ONE and Wan Hai due to "insufficient" fleet Maersk Line, which had not been as aggressive as its rivals in ordering newbuildings, is now finding itself short of Neo-Panamax ships as more vessels are rerouted round the Cape of Good Hope . It has now transpired that Maersk Line has chartered the newly built 15,000 TEU ONE Focus from Ocean Network Express (ONE), in addition to the 13,100 TEU Wan Hai A12 that the Danish operator fixed from Tai
CMA CGM applies new peak season surcharges from Far East Asia to West Africa Central CMA CGM has announced a new Peak Season Surcharge (PSS) that will be in effect from today (10 January) until further notice. The surcharge of US$150 per TEU will be applied from Far East ports (North, Central, and South China, as well as Hong Kong SAR, North East Asia, and South East Asia) to West Africa's Central Range (Nigeria, Côte d'Ivoire, Benin, Ghana, Togo, and Equatorial Guinea). The Fren
BIMCO: Record deliveries could push container fleet above 30 million TEUs in 2024 "In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEUs, beating the previous record from 2015 when 1.7 million TEUs were delivered. The 2023 record is now likely to be beaten already in 2024," stated Niels Rasmussen, chief shipping analyst at BIMCO. As 2023 saw a relatively low level of container ship recycling, new ships entering the fleet caused an 8% ri
Kalmar secures contract for 20 straddle carriers at Port of Montevideo Kalmar has finalized a deal with Terminal Cuenca del Plata (TCP), a joint venture between Katoen Natie (80%) and the National Port Authority ANP (20%), to deliver 20 Kalmar hybrid straddle carriers for use at Terminal Cuenca del Plata in the Port of Montevideo in Uruguay. This order was recorded in Cargotec's Q4 2023 order intake, with the machines expected to be delivered in the thrid quarter of
Safe Bulkers boosts kamsarmax orderbook in Japan New York-listed Safe Bulkers has continued its newbuilding push with a deal for yet another kamsarmax in Japan. The 82,000 dwt ship, a sister vessel to several Safe Bulkers newbuilds, has been designed to meet the Phase 3 requirements of the Energy Efficiency Design Index and also comply with the NOx-Tier III regulations. "Consistent with ...
BW Offshore rejects Sohmen-Pao's offer for oil and gas player BW Energy Floater specialist BW Offshore has said no to a mandatory offer made by parent company BW Group to buy shares of affiliate company BW Energy. BW Group has on November 29, 2023, purchased 250,000 shares in BW Energy for NOK 23.7717 ($2.3) per share via an all-or-nothing order placed with a bank. Following this, BW ...
Leadership change at Fred Olsen Windcarrier Norwegian offshore wind installation player Fred Olsen Windcarrier has appointed Haakon Magne Ore as its new chief executive officer. Ore will take over from Alexandra Koefoed on March 1, following a transition period, the company said. He joins the company from Fred Olsen & Co where he currently serves as director and vice president of ...
Economou nominates two directors to Genco board Greek shipowner George Economou has nominated two candidates for election to the Genco Shipping & Trading board of directors at the US dry bulk player's next annual general meeting. Economou, who owns a 5.4% stake in the New York-listed Genco via his affiliate GK Investor, has proposed Randee Day, president and CEO of maritime consultancy ...
Wood to modify BP's ETAP topsides to receive Murlach oil UK consulting and engineering firm Wood has been awarded a contract to deliver topside modifications supporting BP's latest subsea tieback in the UK North Sea. Wood will deliver engineering, procurement, construction, and commissioning services to enhance the central processing facility of BP's Eastern Trough Area Project (ETAP) production hub in the central North Sea. Financial ...
Erik Thun again turns to Ferus Smit for four more newbuilds Sweden's Erik Thun has ordered four more new vessels, two multi-purpose dry cargo vessels and two coastal tankers. They will be built by Shipsveerf Ferus Smit in the Netherlands. This order brings the current orderbook from the shipbuilder up to 14 vessels and Erik Thun's current orderbook up to 15 vessels in total. The contract ...
Houthis fire their greatest barrage of weapons to date in the ongoing Red Sea shipping crisis The Houthis launched their largest attack so far yesterday evening. According to the US military the "complex attack" consisted of 18 attack drones, two anti-ship cruise missiles, and one anti-ship ballistic missile. They were all shot down through efforts of F/A-18 aircraft from the US aircraft carrier Dwight D. Eisenhower, three US destroyers and one ...
Turkey's PascoGas books VLAC pair at HD Hyundai Heavy Turkey's PascoGas has been placed behind a deal for two very large ammonia carrier (VLAC) newbuilds at HD Hyundai Heavy Industries. The Istanbul-based owner has tapped the South Korean yard for an 80,000 cu m pair worth over $120m each, according to brokers. Established in December 2019, PascoGas is listed with three midsize gas carriers, ...
Clarksons offshore index pushing towards all-time high in 2024 Offshore oil and gas markets continued to strengthen in the past year, with the Clarksons offshore index rising to multi-year highs. The cross-segment rate index which tracks rig, OSV, and subsea dayrates rose by a further 27% in 2023 to a multi-year high of 106 points. For comparison, it hit 45 in 2017, 114 in ...
More than one boxship newbuild delivering every day this year Liner shipping has entered 2024 in unexpected rude health thanks to the massive diversions away from the Red Sea soaking up tremendous capacity and putting spot rates at highs not experienced ever before outside of the covid era. Nevertheless, the liner industry will have to contend with another record deluge of new deliveries, which could ...
Norden bulks up with fifth cape Denmark's Norden has strengthened its dry bulk portfolio with the acquisition of a modern capesize. The Jan Rindbo-led owner and operator has forked out over $70m to purchase the 2023-built from Greece's Transmed Maritime. The 182,300 dwt ship delivered from Japan's Namura in October is the company's fifth cape since it marked its entry into ...
South Africa seeks emergency external help to remedy dire situation across the nation's ports The dire situation at South Africa's ports, which have some of lowest productivity levels in the world, has seen the authorities seek external help. Transnet National Ports Authority, which oversees the country's top ports, is seeking terminal operators to come in for a period of three years to close what it describes as "port operational ...
Valaris rakes in over $1bn in new rig deals Offshore driller Valaris has been awarded a batch of new contracts and contract extensions, with an associated contract backlog of approximately $1.14bn. In the floater department, Valaris won a two-year contract extension with Anadarko Petroleum in the U.S. Gulf of Mexico for Valaris DS-16 drillship, starting in June 2024 in direct continuation of the existing ...
ZIM rolls out container tracking devices The world container fleet is increasingly becoming smart. Israeli carrier ZIM is the latest to announce a significant investment in tracking devices across its dry van container fleet. ZIM invested in tacking specialist Hoopo Systems two years ago and yesterday announced it has tapped Hoopo to place its solar-powered devices on much of its box ...
Oxford University study shows how green ammonia could be rolled out to shipping across the world Researchers from the University of Oxford have published a study in Environmental Research: Infrastructure and Sustainability claiming that green ammonia could be used to fulfil the fuel demands of over 60% of global shipping by targeting just the top 10 regional fuel ports. The researchers looked at the production costs of ammonia which they said ...
Maersk opts for Panama 'land bridge' amid canal woes Due to severe drought conditions restricting vessel drafts and transits, Maersk is recalibrating its OC1 service between Oceania and the...
Economou moves to shake up Genco board with nomination of two candidates George Economou is looking to shake up Genco's board to address its 'lagging performance'. Less than two weeks after revealing...
Russia oil exports uninterrupted by escalation in Houthi attacks Red Sea vessel activity is down 28% over past seven days reflecting containership exodus around the Cape of Good Hope...
Red Sea attacks prompt 2m teu drop in Suez boxship traffic Liner capacity through the Suez down some 60% across the New Year period, as carriers show unified response to Houthi...
Vehicle carrier operators divided over Suez route as more ships divert via South Africa Cosco, K Line, NYK and Grimaldi are still utilising the Suez Canal for vehicle carriers bound to and from Europe...
Owners can now refuse Red Sea orders, barristers believe Disagreements between owners and charterers already apparent, with KCs working on opinions for shipowner clients
Marinakis and Fredriksen clinch VLCC slots at Dalian Move by brace of big names calls attention to hopes of tight market when new tankers hit the water
Boxship fleet set to hit 30m teu this year The aggregate capacity of the global boxship fleet will have doubled in less than a decade. The same cannot be...
Chinese EV giant BYD begins operating chartered car carrier The electric vehicle manufacturer, which has surpassed Tesla to become the global leader in sales, has taken a firm step towards...
Cosco Shipping Holdings forecasts 78% profit drop for 2023 amid challenging market The company attributes the decline in profit to weak demand and falling freight rates
Antwerp-Bruges throughput falls on economics and geopolitics pressures A year and a half on from the merger of the two ports, volumes remain constrained. But market share increases...
India plans P&I insurer Reports suggest entity will be domestically focused in the first instance but could go on to seek international business
Singapore to participate in Operation Prosperity Guardian Singapore has been a member of the 39-nation Combined Maritime Forces since 2009 and had previously deployed assets when it participated...
Daily Briefing Sino-Russian boxships continue using Red Sea despite Houthi threat | Dark fleet safe haven Gabon flags 18 Sovcomflot tankers after...
Capesize rates suffer historic Atlantic market plunge as unemployed tonnage builds Average rates for sector plunge 20% in a day even as Pacific market shows signs of life
'Watch this space': US and UK ramp up talk of 'consequences' for Houthi attacks Britain's defence minister says sweeping Tuesday attack shows Iran-backed militants 'are not listening'
Capesize rates suffer historic Atlantic rates plunge as unemployed tonnage builds Average rates for sector plunge 20% in a day even as Pacific market shows signs of life
George Economou wastes no time moving to shake-up Genco Shipping boardroom Greek tycoon is seeking 'improved value' as he views 'Genco's lagging performance'
Fred Olsen Windcarrier brings in new CEO to replace Alexandra Koefoed Haakon Magne Ore from Fred Olsen & Co takes up new position at start of March
BW Offshore rejects Sohmen-Pao's BW Energy takeover offer Independent directors join BW Energy board in turning down Singapore parent's bid
New IMarEST CEO seeks seat at the table to shape shipping's future Chris Goldsworthy takes top job with promise to strengthen institute's voice in policy circles
Euronav tied to sale of world's second biggest tanker Chinese entities emerge as new owners of the ultra-large crude carrier
BW LPG's Niels Rigault cashes $1.8m in stock options after exit Former commercial head sells shares in world's largest VLGC owner
Shipping major MOL snaps up wind turbine company Hokutaku as renewables bet grows Giant Japanese shipowner makes another investment in offshore wind sector
Arrow sets up new energy arm as it targets oil derivative broking Shipbroker aims to move into green fuels and carbon business while eyeing tanker expansion
Big-name insurers RSA and Brit team up on project cargo cover Partnership has $285m of capacity ready to insure for industrial sectors
BW Offshore rejects Sohmen-Pao's takeover offer for BW Energy Independent directors join BW Energy board in turning down Singapore parent's bid
Indiana Jones (no, not that one) detained in UK with cracked hull MOL car carrier also on the detention list for December
Vessel calls likely to be disrupted as Ecuador declares state of emergency Outbreak of violence leads to curfew in South American nation
Marinakis and Fredriksen line up VLCC orders totalling $1.3bn - split on fuel choices Capital Maritime & Trading opts for LNG while Seatankers sticks with scrubbers
Golden Ocean share price soars as Pareto upgrades assessment to 'buy' Bulker owner upgraded with target price of $13
VLGC spot rates suffer shock 21% drop as gas price differentials weaken Correction comes a day after brokers talked up sector's fundamental strength
Erik Thun swells orderbook to 15 vessels with latest newbuilding swoop Swedish owner books four more vessels at Shipsveerf Ferus Smit
Indian Register pushes Mishra up the ladder to become joint managing director Former head of operations becomes joint managing director
Maersk container ship pollution incident sparks political row in Spain Clean-up taking place on beaches as Galicia accuses central government of knowing about spill for two weeks
Cargo insurers will back Red Sea transits, says Patrizia Kern-Ferretti Breeze chief says underwriting capacity will be there to back the trade amid ongoing attacks on shipping
Clyde & Co braced for new fine over anti-money laundering rule breach Company admitted inadequate anti-money laundering checks before $50m shipping deals
Maersk Supply cashes in three anchor handlers after asset prices double Values have shot up for the three very large offshore vessels offloaded by Danish owner
BWLPG's Niels Rigault cashes in $1.8m on stock options after exit Former commercial head sells shares in world's largest VLGC owner
Clyde& Co braced for new fine over anti-laundering rule breach Company admitted inadequate anti-money laundering checks before $50m shipping deals
Greek shipowner Celestyal Cruises purges old vessel from fleet Market sources say Celestyal Olympia has gone to Turkish interests
SwissMarine bulker arrested over demurrage battle down the charter chain Legal fight involves dispute over cargo carried on another Greek-owned vessel
Greece's Celestyal Cruises purges old cruise ship from fleet Market sources say 1984-built Celestyal Olympia has gone to Turkish interests
Houthis launch flurry of drones and missiles in 'complex attack' on Red Sea shipping lanes US military says dozens of merchant vessels were in shipping lane as coalition responded to incident
Singapore to deploy personnel, but no ships to support Red Sea task force UK government has also announced that another naval vessel will be sent to the region
Comment: How worried should shipping be about the resurgence of Somali piracy? Measures remain in place to tackle a resurgence in criminality on the high seas
Chinese trader Comerge books debut newbuildings in groundbreaking order for shipyard Comerge Shipping inks two methanol-fuelled kamsarmax bulk carriers at state-owned Chengxi
'Coalition forces responding' after flurry of drones seen off Yemeni port Target unknown as warships reportedly 'engage' in incident off Hodeidah
Cargo airline Amerijet in distress sale, terminates 6 aircraft leases New owners have taken control of troubled Amerijet, which is scuttling several aircraft leases and laying off more workers to preserve cash.
Container lines had rough Q4 before Red Sea-driven rate rebound The upsurge in rates due to ship diversions did not come soon enough to rescue container lines' fourth-quarter results.
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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