With CLIA reporting passenger volume climbing, cruising marks new milestones One key take-away from the just-released Cruise Lines International Association (CLIA) 2024 State of the Cruise Industry report: 2023 passenger volume reached 31.7 million- surpassing 2019 by 7%. Against that backdrop, all
CMA CGM applies new peak season surcharge in Gambia French ocean carrier CMA CGM has announced the following Peak Season Surcharge (PSS) implementation in Gambia, which will take effect on 15 April for all shipments and on 10 May for US and Latin America ones. Origin range: All origins except Far East, Turkey & Egypt Destination range: Gambia Cargo: Dry Amount: US$300 / €280 / GB£ 240 per unit Payable with freight Origin range: Turkey Destination
Maersk enhances ME2 service, expanding operations to North Europe Danish container line Maersk has unveiled upgrades to its ME2 service, extending its operations to North Europe. The ME2 service, formerly turning in the Mediterranean (Algeciras and Tangiers), is undergoing expansion. This revamped service will broaden its reach from West India into North Europe. The revised ME2 rotation will be as follows: Jebel Ali (United Arab Emirates) - Mundra (India) - Jaw
Singapore's EU ETS liabilities of €330 million can accelerate green shipping initiatives Singapore-registered vessels will be required to contribute a significant €330 million (US$355 million)m share of Asian shipping's total emissions liabilities under the EU ETS, underlining the importance of the Lion City as a key maritime hub for both global trade and decarbonization, according to OceanScore. The Hamburg-based maritime technology firm's modelling analysis shows that 5.5 million E
Hapag-Lloyd implements reefer surcharge from India to Arabian Gulf German ocean carrier Hapag-Lloyd has announced the implementation of a Peak Season Surcharge (PSS) for shipments from India to Arabian Gulf Ports. The surcharge will apply to all sailings starting from 20 April 2024 and will remain in effect until further notice. Here are the details of the PSS: 20' Reefer Container: US$100 40' Reefer Container: US$200 The geographical scope of this PSS is as fol
NWSA introduces cargo and service incentive program in Seattle and Tacoma Harbours The Northwest Seaport Alliance (NWSA) launches a comprehensive cargo and service incentive program, with a focus on enhancing international container rail cargo volumes and refining service delivery within the Seattle and Tacoma harbours. With an allocated budget of US$11 million, the program aims to boost intermodal cargo volumes, enhance vessel schedule reliability, and expand marine terminal o
Dachser introduces new LCL services between Rotterdam and Asia Dachser has decided to expand its air and sea freight division, introducing new fixed Less-than-Container-Load (LCL) connections linking the port of Rotterdam to several ports across Asia, all with scheduled departure times. Starting from late 2023, the German logistics company has been establishing weekly LCL export routes from Rotterdam to ports such as Shanghai, Nhava Sheva, and Dubai (serving
ClassNK approves NYK Line's 3D design drawings of multi-purpose container ship ClassNK has approved the basic design drawings of a multi-purpose container carrier developed by Nippon Yusen Kabushiki Kaisha (NYK Line) utilizing 3D models. This milestone marks the world's first ocean-going ship to complete the basic design process, including class approval, solely through 3D drawings from the conceptual design to the basic structural design, during the initial stages of ship
Veson Shipping Market Outlook: Chinese economy's recovery, elevated interest rates and ongoing political tensions add to an atmosphere of uncertainty Veson Nautical, which delivers maritime freight management solutions, said there are several elements of unpredictability affecting the shipping market forecasts for the second quarter of 2024. The Chinese economy's recovery currently teeters on instability, casting a shadow of uncertainty over the industry due to China's pivotal role as a major demand driver. Elevated interest rates in Western e
Astrid Mærsk's first-ever green methanol bunkering in China Maersk marked a significant achievement with the arrival of the large methanol-enabled vessel "Astrid Mærsk" at Yangshan Port in Shanghai. This milestone event signifies the inaugural green methanol bunkering alongside cargo and bunkering operations in China, facilitated through collaboration with the Shanghai International Port Group (SIPG). As Maersk commemorates a century of serving China's fo
Arkas Line breaks newbuilding hiatus with four-ship order in China Turkish box carrier Arkas Line has ordered four 4,300 TEU container ships at China's CSSC Huangpu Wenchong Shipbuilding. Arkas said the total contract value is US$240 million and the ships are expected to be delivered between February and August 2028. The company said, "Built as an eco-designed new generation ship, the ships will support Arkas' sustainability strategy by reducing carbon emissions
Wärtsilä ANCS introduces revolutionary radar system Wärtsilä ANCS, a division of the technology group Wärtsilä, has unveiled the NACOS Platinum Solid State X-Band Radar, a groundbreaking radar system set to redefine safety and reliability standards in marine navigation. Engineered with cutting-edge solid-state transceiver technology, this system boasts a compact housing and gearbox, eliminating the necessity for conventional magnetrons. This desig
Renowned economist predicts decline of large container vessels in future trade landscape The large container vessels might become increasingly obsolete, according to the renowned economist, historian and journalist Marc Levinson, in a future trading landscape, where trade is more fragmented and regionalised, involving shipping over shorter distances, and the volume of product shipped grows more slowly due to advances in technology. "I don't think that these enormous vessels are reall
Dachser buys European food logistics provider German logistics firm Dachser is strengthening its network for food transport and storage in Europe with the acquisition of Brummer, the partner in the European Food Network for the transport of temperature-controlled food between Germany, Austria, and neighboring countries. Dachser will buy Brummer Logistik GmbH in Germany and Brummer Logistic Solutions GmbH & Co KG in Austria in a purchase enco
APM Terminals Gijón handles largest container ship in port history This month, APM Terminals Gijón successfully managed the arrival of the largest container ship ever to visit the Port of El Musel on Spain's northern coast. MSC Katyayni, measuring 275 meters in length and 40 meters in width, docked at the terminal for a total of 33 hours, during which 740 containers were loaded and unloaded. Enhancements made to the terminal to accommodate larger vessels will bo
German owners invest in 'Google Search' for shipping Berlin-based Flagship Founders has spun off its fifth startup which is developing an AI-powered information retrieval and management platform for the shipping industry. The company, called Sealenic, has already partnered with three shipping companies - Reederei F. Laeisz, Fairplay Towage, and Harren Ship Management. All of them are already testing the solution in their operational ...
Shelf Drilling jackup wins $81m extension from Equinor Oslo-listed jackup rig pure-play Shelf Drilling has won a contract extension from Equinor for one of its rigs. Equinor extended the contract of the Shelf Drilling Barsk jackup for operations at the Gudrun field located in the Norwegian Continental Shelf. The firm term of the extension is two wells with an estimated duration of 254 ...
Handy bulker prices remain firm Sales in dry bulk are easing in line with the cooling of the Baltic Dry Index, which has dropped by around one-third since mid-March. However, in one segment - the handy one - prices continue to stay firm. Japanese heavyweight Orix Corp is reportedly cashing in, selling the 37,100 dwt, Saiki-built Susanoo Harmony for $29.5m, ...
Havila takes full control of Volstad Maritime Family-owned investment company Havila Holding has taken full ownership of Norwegian vessel owner and operator Volstad Maritime after buying the rest of the stocks it did not own. Havila Holding has been the majority owner of Volstad Maritime through Sæviking AS. The company saw the acquisition of the remaining shares as having potential for future ...
Transpacific container contracts 'substantially below' initial asking rates The first batch of transpacific contracts are concluding for the May 2024-April 2025 period with analysts at Jefferies reporting Asia-US west coast rates are understood to be in the $1,400 to $1,500 per feu range, up from $1,200 per feu to $1,300 per feu last year. These agreements compare to current spot rates above $3,000 ...
Stena Drilling scores drillship contract in Morocco Stena Drilling, the Aberdeen-based business of Sweden's Stena, has signed a contract for up to two wells offshore Morocco. London-listed Energean has booked the 2009-built drillship Stena Forth, following the farm-in to Chariot's acreage offshore the North African country. The sixth-generation dual-activity harsh environment rig, which has been working for Shell in the Egyptian sector ...
Panama Canal Authority warns restrictions will remain in place throughout 2024 The Panama Canal Authority (ACP) has claimed that the tide has turned in its ongoing battle to get back to normal operations, following a debilitating year of drought-induced cuts to drafts and transits. "Current forecasts indicate that steady rainfall will arrive in late April and continue for a few months. If this remains the case, ...
Levels of depression and anxiety increase among Ukrainian seafarers Seafarer charity Stella Maris is warning that Ukrainian seafarers are experiencing increased levels of loneliness and depression amid fears of conscription if they return home as the war enters its third year. Stella Maris regional port chaplains in the UK for Southampton and Southern ports, Charles Stuart and Gregory Hogan, who make multiple daily ship ...
Ex-head of Guangzhou port under investigation Li Yibo, the former chairman of Guangzhou port, has been placed in custody by anti-graft authorities, with Chinese finanacial newswire Caixin reporting the port operator is investigating construction projects carried out during Li's tenure. Li was detained at the start of this month. On April 3, Shanghai-listed Guangzhou Port said Li had resigned for "personal ...
Hafnia shares start trading in New York Shares in Hafnia, the world's largest product tanker company, commenced trading on the New York Stock Exchange (NYSE) yesterday, to go alongside an existing listing in Oslo for the BW-controlled company. Shares closed in New York down 45 cents on Hafnia's opening day to end Tuesday on $7.47. "Listing on the NYSE opens new possibilities ...
Three reasons why shipping transactions have not yet been digitalised Torgeir Willumsen, resident partner at Simonsen Vogt Wiig in Singapore and founder of Assentiri, establishes the unique peculiarities of shipping that make the digital transition so tricky. In an era where digital transformation has revolutionised many industries such as banking and real estate, the maritime sector stands as a notable exception. Like an old man ...
Panama Canal finally begins to rebound after drought-driven dive Despite positive momentum in March, neopanamax locks transits were 18-20% below levels in the same month in 2022 and 2023...
US forces intercept missile launched at US-flagged Maersk boxship as Houthis claim more strikes US Central Command said it 'successfully engaged and destroyed' an anti-ship ballistic missile launched by the Houthis on Tuesday towards a...
'Could they? Yes. Will they? Probably not': Doubts over Iran's Strait of Hormuz threat An Iranian navy chief said Iran could close the Strait of Hormuz as he pledged to 'punish Israel' for a...
Cansi chief seeks united front with Japan on shipbuilding amid US reshoring push Secretary-general of China's shipbuilding association has shrugged off concerns about potential US investigations into Chinese shipbuilding, arguing the sector's substantial...
Baltimore bridge collapse owners liability limitation bid has strong chance As Britain's most famous 20th-century judge Lord Denning once ruled, limitation of liability is 'not a matter of justice' but...
Former Guangzhou port chairman detained in misconduct probe Guangzhou port has been reviewing projects carried out during Li's tenure
Regional chokepoints helped Monjasa boost bunker sales in 2023 Monjasa said its annual bunker sales of 6.5m tonnes made it the seventh-biggest global supplier
Zim gains ground as newbuildings are delivered Zim has gained a place in the top 10 box carrier rankings. But with a large number of charter vessels...
Türkiye restricts exports to Israel over Gaza war Israel was among 15 biggest export markets for Türkiye in 2023 with total shipments worth more than $5bn
Daily Briefing Resilient US economy continues to buoy container shipping demand | IMO carbon pricing rules could face WTO challenge | Large shippers...
Spectacle of shipping disruptions overshadows manageable impact to cargo The shipping industry's ability to overcome physical disruptions such as the Port of Baltimore's closure shouldn't lull it into complacency because growing geopolitical threats could provide new obstacles that can't be as easily managed, writes Journal of Commerce Executive Editor Mark Szakonyi.
Sustained demand for e-commerce to lift 2024 air cargo market: forwarders Chinese e-commerce marketplaces are rapidly expanding their global reach as strong demand from online shoppers in the US and Europe drives up air freight volumes and keeps transport capacity tight.
Shift to eBLs would mean big cut in carbon emissions: study The study, commissioned by the Global Shipping Business Network, comes amid a commitment by nine of the top 10 global ocean carriers to only use electronic bills of lading by 2030.
Norfolk expands hours to handle cargo volumes shifted from Baltimore The US DOT has also offered some relief, granting an exemption that permits truck drivers to work an additional two hours of drive time beyond federal limits if the cargo is connected to the Port of Baltimore closure.
Electric power systems become focus of Dali bridge collision probe Hyundai working with investigators to look closely at engine room electronics
Aframax spot market rebound in the Atlantic becomes 'gift that keeps on giving' for suezmaxes Busy activity levels empty Atlantic of aframaxes and bigger cousins get in on the action
Houthis confirm strike attempt on Maersk ship and targeting of MSC vessels Yemeni militant group has not directly hit a commercial ship since 23 March
Norden chief executive digests flurry of high-profile staff exits Departures bring 'opportunities' for others in the organisation, Jan Rindbo tells TradeWinds
Capesize market shows fresh glimmer of hope as fixing activity finally stops rates rout Fixing activity has been steady, which is being borne out in the numbers - at last
Evangelos Marinakis scores healthy profit on product tanker sale to d'Amico International After a string of in-the-money purchase option buys, Italy's only listed shipping company expands with third-party vessel
Podcast: Time to buy into the EU carbon credit rollercoaster? Prices are ticking up after falling to lower-than-expected levels. Where will it go from here?
Stolt-Nielsen extends tanker life to 30 years despite new orders, CEO Udo Lange says Norwegian group's boss tells earnings call that not cutting costs on maintenance down the years has been key
Podcast: Time to buy into the EU carbon credit roller coaster? Prices are ticking up after falling to lower-than-expected levels. Where will it go from here?
Exhausted Ukrainian seafarers trapped at sea amid fears of being called up to fight Tensions mount for Russians and Ukrainians working on the same ships, says seafarer charity Stella Maris
Private equity-backed Golden Energy Offshore gets contracts worth $10.8m for three PSVs
Robert Bugbee rolls out red carpet as Michael Skov joins $10bn product tanker club in New York As Wall Street welcomes Mikael Skov's Hafnia to the Big Apple, Scorpio Tankers' Bugbee channels his inner Bob Marley
Panama Canal bosses attack drought delay 'myths' as ship slots increase Waterway authority says there is no vessel bottleneck and transits could normalise next year
MSC to 'vigorously defend itself' against 'excessive' $63m fine sought by US regulators Carrier facing Federal Maritime Commission allegations of unfair billing charges
Tankers in pole position as crises and economic woes trigger uncertainty in shipping Veson Nautical says multiple factors will affect markets in coming months
Tanker owners on alert as Iraq plots reopening of oil pipeline subject to regular sabotage attacks Broker BRS warns sabotage attacks by Kurds could resume unless payment dispute resolved
Cleaves shipping fund staying 'overweight' on clean tankers as Red Sea disruption deepens seasonal trends Norwegian investment bank reiterates belief in product sector bet if disruption continues
Provaris signs hydrogen terminal deal in Rotterdam as new ships progress Australian pioneer signs up to bring green fuel into GES facility
Swiss trader Mercuria Energy plots LNG expansion as huge profit rolls in Trader and charterer said to have doubled its usual earnings in volatile markets
'Long-term upcycle': Tanker stocks a buy with value in product and VLCC markets, says Fearnleys Norwegian broker sees best risk-reward in VLCC owners
Saevik family company Havila takes over offshore vessel owner Volstad Maritime Combined group will have fleet of 20 ships with deal coming more than six years after Havila first bought a stake in compatriot
Winning and Thenamaris drive bulker dealmaking to 17-year high in frantic first quarter Greek and Chinese players dominate bulker acquisitions in what has been a super-active quarter for capesizes
Google Search for shipping launched by German shiptech venture capital firm Start-up Sealenic will be trialled onboard vessels ahead of general launch later in the year
US shoots down Houthi missile 'likely' targeting Maersk container ship off Yemen 'Imminent threat' repelled by the USS Mason, US military says
Navigator carries out first ship-to-ship ammonia transfer with StealthGas Owner says breakthrough operation took place over 11 hours off South Africa
Fund manager Pelagic teams up with Borealis Maritime to expand offshore fleet Diversified Cypriot fund's maritime exposure grows to 26 ships
European owners give reborn Chinese shipyard a leg up with MPP and stainless steel chemical tanker orders Candler Schiffarht signs up for MPPs and Mercurius Shipping orders stainless steel chemical tankers
Norway's Color Group raises $84m in bond refinancing Cruise ferry owner will pay coupon of three-month Nibor plus 3%
Offen Group strikes rare ship sale in $50m deal with CMA CGM Demand for larger container ships sees French liner operator exercise purchase option in tight market
Iran threatens to shut down vital Strait of Hormuz shipping route as tensions flare Naval chief Alireza Tangsiri cites concerns over alleged Israeli presence in UAE and attack on Syrian consulate
Stolt-Nielsen says chemical tanker rates at record levels as profit rises Norwegian group also notes some contract volumes are down due to geopolitical disruption
Union Bulk co-founder makes shock exit from bulker operator Commercial chief left without notice before Easter, TradeWinds understands
'All the small things' fuel Torm's decarbonisation efforts Preventative maintenance down to toilet suction have helped Danish operator make big strides
Seafarer well-being platform Bigyellowfish moves to Singapore to tap vibrant tech ecosystem Chief commercial officer Linda Sorensen says platform needs to evolve to address increasingly complex seafarer issues
Macquarie's Corio looks to Port of Acu for Brazilian offshore wind base Company is aiming to develop five offshore projects totalling up to 6 GW
Singapore expands global innovation outreach through incubators, accelerators and venture studios Popular programmes see start-ups from around the world bring new tech talent to city-state
Decline in Delta Air Lines' Q1 cargo revenue has silver lining The air cargo market's upturn helped Delta Air Lines in the first quarter, but revenues were still lower than in 2022.
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