VIDEO: South Brooklyn Marine Terminal transformation kicks off Equinor today broke ground on construction at the South Brooklyn Marine Terminal (SBMT), formally kicking off the revitalization of the historic port facility into a hub for offshore wind on the U.S.
VIDEO: Baltimore's Federal Channel now fully restored to original operating dimensions UPDATED: As part of the Unified Command response to the collapse of the Francis Scott Key Bridge, the U.S. Army Corps of Engineers and U.S. Navy Supervisor of Salvage and Diving today
Ventus Marine orders Z-bow hulled CTV quartet Singapore-headquartered Ventus Marine, a subsidiary of PSA Marine, has signed a contract with aluminum shipbuilder Strategic Marine for the construction of four BMT-designed 27-meter Z-bow hull crew transfer vessels (CTVs). In addition
SRSA inks MoU with the Khaled bin Sultan Living Oceans Foundation The Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with the Khaled bin Sultan Living Oceans Foundation to explore collaboration in sustainable marine protection and recreational marine tourism activities. The MoU was signed by SRSA CEO Mohammed Al-Nasser and Princess Hala bint Khaled bin Sultan Al-Saud, president of the Khaled bin Sultan Living Oceans Foundation. Th
Houthis alleged hits on three ships Houthis continue to step up their attacks on ships in the Red Sea and have claimed assaults on three ships this week, including one Maersk boxship, Maersk Seletar. Houthi spokesperson Yahya Saree alleged that the Iran-backed rebel group had fired anti-ship ballistic missiles at Handysize bulk carrier Vantage Dream and a ship called Roza in the Red Sea. Ship databases show there are now two in-ser
Hapag-Lloyd launches new service linking Türkiye to the Red Sea Hapag-Lloyd has announced a new service connecting Western Türkiye with the Red Sea, which is expected to start in mid-June. From 15 June 2024, the German ocean carrier will introduce its new Türkiye Red Sea Express (TRE) with the following port rotation: Istanbul, Türkiye - Izmit, Türkiye - Aliaga, Türkiye - Jeddah, Saudi Arabia - Aqaba, Jordan - Istanbul Below, Hapag-Lloyd has noted the first p
Los Angeles Harbor Commission approves US$2.6 billion budget The Los Angeles Harbor Commission has approved a US$2.6 billion budget for the City of Los Angeles Harbor Department for the fiscal year 2024/25. "This year's budget takes a prudent approach that carefully balances revenues and expenses and sets up the Port well for the future. Most importantly, the plan will allow us to stay the course and follow through on many strategic priorities and industry
CMA CGM upgrades NWUK and SCUK services CMA CGM has announced significant enhancements to their NWUK and SCUK services, which connect Spain via the port of Bilbao with Ireland, the UK, and the Netherlands. These improvements will take effect from 21 June 2024 and aim to serve clients better while demonstrating CMA CGM's commitment to expanding and strengthening its short-sea door-to-door services across Europe. To ensure unmatched sche
Overcoming Writer's Block in College Benefits of Studying in the USA College students often suffer from writer's block, defined as an inability to produce new written material, which can be both unsettling and stressful when deadlines loom large. A variety of factors, including worry, perfectionism, lack of creativity, or physical exhaustion, could contribute to writer's block. Recognizing what causes it is the first step in breaking it; once you understand its so
Vantage Drilling plots Oslo IPO Offshore drilling contractor Vantage Drilling is considering listing on the stock exchange in Oslo this year. The Dubai-based firm with offices in Houston and Singapore has hired DNB Markets as manager and listing advisor and Schjødt as Norwegian legal counsel. Further updates on the process will be provided in due course, the company said. Established ...
Brazilian deepwater driller lists in Oslo A Brazil-headquartered offshore drilling player has surfaced under a new name on the Norwegian public market. Ventura Offshore, which acquired Brazilian deepwater drilling firm Petroserv earlier this year, has listed its shares for trading on the Oslo Stock Exchange. The Guilherme Coelho-led company has already raised $170m via private placement to partly fund the deal ...
UAE investor takes over Danish Ship Finance United Arab Emirates investor Magellan Capital has sealed a deal to buy lender Danish Ship Finance (DSF) for an undisclosed sum. Magellan, set up by Abu Dhabi-based Hassan El Ali after he sold offshore support vessel owner and operator Zakher Marine International (ZMI) to ADNOC Logistics & Services, is buying the majority of Danish Ship ...
Ventus Marine orders crew transfer vessels at Strategic Marine PSA Marine unit Ventus Marine has contracted four crew transfer vessels (CTVs) at Singapore-based shipbuilder Strategic Marine for work in the European and Asian offshore wind sectors. The 27-m-long CTVs, designed by BMT, are scheduled for delivery by the end of 2024 onwards, with two managed by PSA Marine's partner Njord Offshore in Europe while ...
Well-to-wake study makes the case for ammonia A new study suggests that greenhouse gas (GHG) reductions of up to 61% are now achievable from using ammonia as a marine fuel, depending on the marine technology employed. This figure is compared with the emissions of current oil-based marine fuels measured from well-to-wake (WtW). The study was carried out by Sphera, a provider of ...
$20,000 a box? Spot rates on Asia-Europe ready to eclipse pandemic highs A leading container consultancy has warned shippers of the very real prospect of spot rates surpassing $20,000 per feu on the Asia-Europe tradelane. Rates have leapt dramatically over the past month across the board to highs never experienced outside the pandemic era. "The container market remains very tight with healthy demand, constrained vessel capacity, out-of-position ...
Noble Corp makes offer to buy Diamond Drilling Offshore drilling giant Noble Corporation has made an offer to acquire US offshore rig owner Diamond Drilling. Noble will acquire Diamond Drilling in a stock plus cash transaction in which the latter's shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock or $600m total ...
Ocean Installer sold to Moreld Norwegian private equity group HitecVision is selling marine construction contractor Ocean Installer to another company it sold earlier this year. Offshore energy and marine services business Moreld, owned by McIntyre Partners consortium, will be taking over Ocean Installer for an undisclosed sum. Moreld, which provides services to a range of blue-chip clients such as Equinor, ...
Globus Maritime sells its oldest bulker Nasdaq-listed Greek dry bulk owner Globus Maritime has sold its oldest vessel as it makes room for fresh tonnage to join the fleet. The Athens-based firm is shipping out the 2005-built panamax Moon Globe for $11.5m before commissions. The 74,400 dwt vessel is set to be delivered to an unaffiliated third party in or around ...
Chios Navigation books tanker newbuilds in South Korea Caroussis family-controlled shipowner and operator Chios Navigation has moved to bolster its tanker fleet with a pair of MR newbuilds in South Korea. Brokers report the company has contracted Hyundai Vietnam Shipbuilding for conventionally fueled, scrubber-fitted 50,000 dwt units. The newbuilds are delivering in the fourth quarter of 2027 at just above $100m, according to ...
Citing Russia's shadow fleet, Finland calls for greater oil spill response resources in the Baltic Littoral states along the Baltic are upping their campaign to take action against Russia's so-called dark fleet of ageing tankers transiting the region. Finland has called for the European Union to buy a vessel ready to handle oil spills in the northern part of the Baltic. Finland's Transport and Communications Ministry said oil spills from ...
Seadrill to delist from Oslo in September Offshore rig owner Seadrill has decided to delist its shares from trading on the Oslo Stock Exchange. The Simon Johnson-led company has received approvals from its shareholders, and the exchange, with delisting set for September 10 of this year. Seadrill returned to public markets in Oslo and New York after emerging from bankruptcy protection in ...
Teekay Tankers offloads oldest suezmax Teekay Tankers has continued to dispose of its vintage tonnage, with the latest deal struck for its oldest suezmax. S&P databases show the New York-listed owner and operator, which had a suezmax and and aframax held for sale at the end of Q1, sold the 2005-built 160,000 dwt Seoul Spirit for $34.5m. The buyer of ...
Great Eastern Shipping snaps up another MR in renewal push Indian owner Great Eastern Shipping has continued its product tanker fleet renewal programme with the acquisition of a 2013-built MR. The Mumbai-listed diversified owner said the unnamed 49,990 dwt ship should deliver by the end of September at an undisclosed price. Great Eastern has been busy rejuvenating its tanker fleet this year with several deals ...
Three ships hit by the Houthis over the weekend Three ships caught on fire after being hit by projectiles off Yemen over the weekend. An Antigua-flagged general cargo ship called Noorderney was struck by a missile 83 nautical miles southeast of Aden and caught fire on Saturday. The fire was later contained. A second missile was sighted but did not hit the ship. Persons ...
TS Lines orders four boxships in Shanghai Taiwan's TS Lines has signed for a much telegraphed order for four boxships. Splash reported last month on a letter of intent - now firmed up - with Shanghai Waigaoqiao Shipbuilding (SWS) for two methanol dual-fuelled 14,000 teu ships and two 7,092 teu vessels. The ships comes with scrubbers with brokers suggesting the prices are ...
Secondhand prices remain firm with tankers showing strong growth This week's broking reports show that prices continue to be firm despite a slowdown in sales. The Japanese-owned cape, Cape Keystone, a 2011 vessel delivered from Hyundai Heavy in Korea, has been sold for $32.5m. The last comparable sale is from early May. Then Danish mammoth Norden was reported selling the same-aged Nord Ferrum, a ...
'If you torture the data long enough, it will confess to anything' Pierre Aury on all the new tech and systems attempting to make shipping more efficient. The Geneva Dry 2024 conference was the occasion to hear from a number of panels about how new technologies and systems - all cloud-based, and all, of course, harnessing the endless power of AI and/or big data - could help ...
Ofac sanctions captains for first time since 2020 Four shipping companies and two vessels have also been added to the sanctions list as Washington continues the fight to...
Indian Register of Shipping completes purge of US-sanctioned tankers Nearly 40 tankers have been kicked out of IRS, which had taken on more than 170 Russia-trading ships over the...
Container charter rally continues with rates and periods still climbing "The prevailing positive sentiment continues, with widespread agreement that favourable trading conditions could persist throughout the year," says Braemar
Week in charts: Panama Canal transits stalled in May | Container rates approach pandemic peaks | Russian Urals crude price falling Water levels in the Panama Canal are rising despite stalling transit numbers, elevated freight rates has shippers anxious and Brent...
Shipping is stuck in the '70s on charterparties, says Torvald Klaveness' chief Greener shipping practices need to be written into charterparties to make them a reality. But shipping is stuck in the...
DFDS to sell non-core Denmark to Norway service for $58m World's largest operator of shortsea ro-ro services says sale of Denmark to Oslo service is due to limited freight volumes...
Wine, cotton and fishmeal all make hazardous cargo list List was compiled by the Cargo Integrity Group, which said it would publish guidance on how to handle the 15...
'Much improved' financial performance at London Club Sharp drop in combined ratio will ease debut of new chief executive
Houthis use missiles and drones to strike two ships in Red Sea Both vessels caught fire but proceeded to Djibouti. No casualties were reported
The week in newbuildings: Evergreen ties up second methanol-fuel newbuilding series Taiwan's Evergreen Group has confirmed signing newbuilding contracts for six methanol dual-fuel feeder containerships at China's Huangpu Wenchong, for subsidiary...
Finland calls for pollution response vessel as oil spill worries mount The European Maritime Safety Agency has nine pollution response vessels stationed around Europe, but the nearest one to the Gulf...
A tale of three offerings: The nine-figure equity sales of Dorian, Zim and Torm Strong share pricing has given Dorian LPG an opportunity to raise cash by selling common equity. It simultaneously gave private...
Daily Briefing Singapore escrow agents feel the heat as focus on tanker sales intensifies | Ukraine's seaborne trade faces uncertain outlook |...
Somalia-based piracy menaces vessels rerouted away from Houthi threats Security forces preoccupied with Houthi attacks in the Red Sea and an increase in Indian Ocean shipping thanks to ongoing route diversions has created an opening for Somali pirates.
Increased consumer spending drives latest upgrade for US import growth: retailers The Global Port Tracker has again increased its forecast for US imports through September, with the National Retail Federation pointing to retailers stocking up to meet the rising demand of consumers.
Threat of Canadian border agent strike delayed, but not dead Shippers need to consider contingency plans for truck shipments crossing the US-Canadian border in case Canada's Customs and Immigration Union calls a strike this week.
Samsung FMC complaint alleges thousands of inaccurate fees assessed by HMM The volume of complaints filed to the US maritime regulator against shipping lines and forwarders has surged since OSRA-22 became law.
Capacity oversupply keeps India-US East Coast rates in decline The continuing rate softness comes as some carriers prepare to implement peak season surcharges ranging from $500 to $750 per container on Indian loads to the East Coast, mostly from June 15.
ILA halts talks over new contract until Maersk, APM clarify port IT projects The International Longshoremen's Association said it has called off talks for a new six-year labor agreement due to automation efforts at Maersk-operated marine terminals.
Political will and an economist's eye: How the Panama Canal is prepping for the next water crisis Economist and Panama Canal administrator Ricaurte Vasquez Morales sets out his mission to deliver 'flow and rhythm' to shipping customers
Pessimism and Posidonia sends VLCC rates plunging towards year-low Broker Gibsons says downbeat tanker mood is likely to carry over into this week
War, pandemic and economic crisis: Ian Gooch on 15 years as head of London P&I Club CEO says mutual is in a good place after rebuilding job following pandemic and economic crisis
'It was just crazy': Greek broker Drossos Skottis reflects on Posidonia Head of shipbroking house Optima opens up on a busy Posidonia and his firm's expansion plans
Gibson Shipbrokers appoints new Asia gas chief as it eyes new business areas Brokerage grows its green shipping, ammonia and CO2 activities with Singapore-based BW name
Altera considers appeal after Norwegian fine for illegal ship scrapping Shuttle tanker owner could pay $747,000 after police probe
Six-digit charter rates are back as CMA CGM pays over $100,000 per day Liner operators are again paying astronomical rates for short periods
'New' product tanker demand from Nigerian refinery exports could be mirage, broker Gibsons warns UK company analyses a changing market with a lot of moving parts
Greek owner Golden Energy ups suezmax tally at DH Shipbuilding Owner adds third vessel as suezmax orderbook reaches seven-year high
London P&I Club rebounds to profit before leadership change Chief executive Ian Gooch signs off final figures after profitable investment and underwriting year
On the spot: Alexander Saverys tackles questions on takeover spoils and Euronav's future as a public company Belgian shipowner opens up on outcome of titanic takeover tussle and if he will keep reshaped tanker company listed
Rederi Gotland moves into Norway and Denmark with $58m deal for DFDS cruise ferries Swedish owner snaps up assets operating between Oslo and Copenhagen
Magellan Capital buys controlling stake in Danish Ship Finance Deal has been struck to sell a 97% stake in the shipping financier
Marios Iliopoulos buys AEK Athens football club from Dimitris Melissanidis Controversial Greek passenger ship owner assumes the leadership of one of the country's top teams
Idan Ofer sells $106m of Zim shares as he hedges another chunk Deal sees Israeli billionaire's stake cut to 16.5%.
Peter Livanos-controlled EcoLog plans to build large-scale liquefied CO2 business Greek owner nets approval in principle for its 40,000-cbm liquefied CO2 carrier design from ABS
HMM and Ikea agree to use biofuel for cargo shipments from Asia Major South Korean line signs up Swedish retail giant to low-carbon service into the Mediterranean
Step-up blacklisting to hit Russia shadow tanker fleet, says think-tank KSE Institute says G7 coalition needs to act as flag states have failed to act on sanctions
Ammonia can offer up to 61% cut in shipping carbon emissions, study says Society for Gas as a Marine Fuel claims first over line with well-to-wake study of emerging marine fuel
Growing risk: V.Group boots 30 dark fleet tankers off management books UK group has also turned down other vessels due to sanctioned business
Wallenius Wilhelmsen pledges no change to dividends despite $929m equity hit Norwegian car carrier giant makes accounting changes over partner Hyundai's shareholding option in Eukor
Evergreen and TS Lines sink almost $1bn into series of container ship newbuilding orders Evergreen orders feeder ships as TS Lines goes for larger vessels
Finland urges EU to buy pollution response ship to deal with Russian shadow fleet Transport ministry wants vessel on standby in case of spills in the Baltic Sea
Gunmen approach crude tanker off Yemen as Houthis step up aggression against shipping Vessel increased speed as small boat drew nearer
'Relentless' sanctions could hit revenue, admits Russian tanker giant Sovcomflot Sanctioned Russian owner's CEO says western pressure makes it difficult to work
Andreas Sohmen-Pao's Hafnia pushes for shake-up in Oslo Stock Exchange trading Shipowner urges Norwegian exchange to open up US-dollar trading amid sharp and sustained fall in kroner
US-listed Globus Maritime raises cash from ship sale and finance deals Feidakis family company sells its oldest ship and enters into a sale-and-leaseback transaction for its newest
Former Maersk veteran appointed top gun at Denmark's biggest defence firm Svitzer, Maersk Oil and Maersk Tankers alumnus continues to be in demand
Harald Fotland says Odfjell is laser-focused on doing 'what it's good at' Bergen owner and operator once had a sprawling operation it has since pared down
Tiny orderbook has Odfjell customers considering older tonnage Owner has chemical tankers built for 40 years of trading, but only now are charterers willing to consider the older ships
George Economou signs up tankers and LNG carriers for Lloyd's Register efficiency analysis Fleet of TMS Tankers and TMS Cardiff Gas to undergo decarbonisation assessment
Industry needs standards for class-ready notations, says WinGD boss Confusion arises as shipowners make claims to be ready for e-fuels despite differing levels of technology investment
Iino Lines confirms order of VLGC for charter to chemicals player Borealis Japanese owner says vessel will be first large gas carrier of ice class 1B
Cargojet enters charter deal for Chinese e-commerce Cargojet will fly planeloads of e-commerce goods from China to Canada several times per week as part of a direct-to-consumer logistics operation.
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