White House releases statements on strikes on Houthi targets Those who were wondering what would happen in response to continued Houthi defiance in continuing attacks on merchant shipping, despite formal international warnings, got their answer today as reports came in of
VIDEO: Icon of the Seas arrives in Miami The new holder of the "world's largest cruise ship" title, Royal Caribbean International's 7,600 guest Icon of the Seas, arrived in Miami for the first time yesterday. Taller than the Eiffel Tower,
Tanker grabbed by Iran has sanctions-busting background This morning, the United Kingdom Maritime Trades Office reported that a vessel had been boarded, when 50 miles northeast of Sohar, Oman by 4-5 armed unauthorized boarders wearing black masks and black
Gale force winds led to liftboat L/B Robert tilt The National Transportation Safety Board has issued its report on a November 2022 incident in which, two days after its crew had evacuated it, the liftboat L/B Robert listed (tilted), incurring damage
Types of Containers, Which One Does My Merchandise Require? Containers are the most used transport units in world trade. There are many goods that are transported by ship and of very diverse types and, with the appearance of the container in the mid-20th century; the majority of cargo began to be transported in containers. The container has been evolving and over time new units have been designed that adapt to almost any nature of merchandise or type of c
HPA and HEnW collaborate on Hamburg port decarbonisation Hamburg Port Authority (HPA) and Hamburger Energiewerke (HEnW) are joining forces to spearhead the decarbonisation efforts in the Port of Hamburg. Their collaborative venture, "Erneuerbare Hafenenergie Hamburg GmbH," aims to enhance the presence of renewable energies like photovoltaics and wind power within the German port while developing innovative renewable energy solutions. The new company wi
Greek tanker boarded in Hormuz Strait A Greek-owned shipping company has lost contact with the crew of its tanker which was last contacted at 6:30 this morning, (Greece time), after armed men were reported to have boarded the vessel off the coast of Sohar in Oman. The UK Maritime Trade Operations (UKMTO), which reports incidents to seafarers and maritime companies, said that four to five armed and masked men boarded St Nikolas and co
ICTSI charts course for sustainable future International Container Terminal Services, Inc. (ICTSI) said it is taking steps towards a more sustainable future by committing to achieve net zero greenhouse gas (GHG) emissions for its Scope 1 and 2 emissions by 2050. Christian R. Gonzalez, ICTSI executive vice president, compliance officer and chief sustainability officer, stated, "Our commitment to decarbonisation targets marks an important s
DP World to develop new ports, terminals and economic zones in India UAE-based DP World has signed multiple Memorandums of Understanding (MoUs) worth approximately US$3 billion with India's Government of Gujarat, covering the development of new ports, terminals and economic zones, aiming to support and strengthen trade in the Indian state. The signed agreements underscore DP World's commitment to facilitating trade in Gujarat by developing: Multi-purpose deep-draf
Russia-bound ships immune from Houthi attacks Ships involved in the niche Far East-Russia trade appear to be unperturbed by Houthi attacks, as the vessels have enjoyed uneventful transits through the Red Sea. In a post on X (formerly Twitter), Houthi leader Mohammed Ali Al-Houthi said ships crossing the Red Sea should broadcast the message "We have no relations with Israel" on their automatic identification systems (AIS). Al-Houthi said one
Sea-Intelligence sees major short-term impact of Red Sea crisis on container capacity The ocean carriers find their service networks extremely volatile and prone to rapid alterations, as the Red Sea crisis is still ongoing and the developments are changing daily. The transit times will logically increase with the round of Africa routing and it will be a bit more than a week longer from Asia to North Europe, and up to two weeks longer into the Mediterranean. "Whilst this is certain
Port of Antwerp-Bruges reports box volume decline, announces strong investments in coming years The Port of Antwerp-Bruges faced another year of challenges in 2023, marked by geopolitical tensions and a slowdown in global economic growth, causing a great impact on industrial production and trade flows. The Belgian port saw 12.5 million TEUs in the previous year, translating to a 7.2% decline from 2022 figures. However, Port of Antwerp-Bruges said it has achieved a positive development in it
WEC Lines launches new direct service between UK and Morocco Starting this month, shipping operator WEC Lines is launching a direct service connecting Agadir in Morocco with the Port of Liverpool in the United Kingdom. This initiative provides a fast and environmentally friendly alternative for importers of fresh produce, eliminating the need for overland trucking. "There's a gap in the market here for wholesalers and supermarkets that want a choice for ho
PSA Mumbai achieves two million TEU milestone in 2023 PSA Mumbai, located in Maharashtra's Jawaharlal Nehru Port (JNP) in India, handled over two million TEUs in 2023, marking a remarkable 30% year-on-year growth. Benefiting from its strategic location and top-notch facilities, PSA Mumbai had a record-breaking year, managing over 2,000 container rakes and facilitating the docking of 834 ships. Renowned for its ability to handle large vessels, PSA Mu
Jumbo Offshore secures Guyana FPSO work Jumbo Offshore Installation Contractors, part of the Dutch Jumbo Group, has been awarded a contract by floater expert Modec for the pre-installation of the mooring spread of the FPSO Errea Wittu offshore Guyana. Modec was authorised to proceed with the engineering, procurement, construction and installation (EPCI) scope for the FPSO in May 2023, following a ...
COSCO and Fratelli Cosulich JV buys Italian logistics firm Trasgo COSCOS, the joint venture between China's COSCO Shipping and Italy's Fratelli Cosulich, has acquired the entire capital of the Novara-based trucking and logistics player Trasgo. Established in 1981, Trasgo boasts 14 warehouse facilities with almost 300,000 sq m and over 320 trucks and handling units. The company offers transport, warehousing, customs operations, cargo handling, trade ...
Tufton Oceanic scores sizeable profit on sale of tanker duo Tufton Oceanic Assets has scored a significant profit on the sale of two 2008-built product tankers. The London-listed fund has offloaded the Hyundai Mipo-built 37,300 dwt MR1s Dinah and Pluto for a total of $41.75m. The Dinah was bought from Ridgebury Tankers in February 2020 for $13.25m, while the Pluto came from Offen Claus-Peter in ...
QatarEnergy signs for eight Q-Max LNG giants Super busy Chinese shipyards are now accepting orders as far out as 2029. Middle Eastern liquefied natural gas (LNG) producer QatarEnergy has signed a contract with Hudong-Zhonghua Shipbuilding for the construction of eight supersize LNG carriers. The next step in the state-owned company's massive shipbuilding program will see the CSSC-affiliated yard build Q-Max units with ...
DeepOcean beefs up its digital offering through btwn acquisition Norwegian subsea services player DeepOcean has strengthened its offering within digitalisation and automation through the acquisition of a compatriot digital transformation company btwn. The Oslo-based company has snapped up all shares in btwn from the company's employees for an undisclosed amount. Btwn - pronounced "between" - specialises in replacing manual processes with automated solutions, w
EPS firms up ammonia newcastlemax options Idan Ofer's Eastern Pacific Shipping (EPS) has lifted its orderbook of ammonia dual-fuel newcastlemax bulkers in China. The Singapore-based shipowner has firmed up orders for four additional 210,000 dwt units at CSSC Qingdao Beihai Shipbuilding, taking its order tally at the yard to 10. The order follows six ships booked last year set to deliver ...
Tanker boarded near Strait of Hormuz in latest Middle East shipping chaos The United Kingdom Maritime Trade Operations (UKMTO) reported this morning that a number of "unauthorised" people wearing military-style black uniforms and masks boarded a ship in the Gulf of Oman, with TankerTrackers.com able to confirm the ship in question is the , formerly known as Suez Rajan. "This is the vessel that was seized by ...
Orders for methanol engines outpace LNG for the first time Shipping's rapid transition to alternative fuels took a significant twist last year with methanol-powered engine orders becoming the most popular alternative choice. The latest stats from DNV's Alternative Fuels Insight platform have shown that orders for methanol-powered ships saw a sharp increase in orders in 2023 with 138 which puts it at the top spot, ...
Ukraine's exports top Black Sea Grain Initiative era Ukraine is exporting more grains today than it did during the period it had signed up to the United Nations-brokered Black Sea Grain Initiative, a pact that came to a halt last July. According to Kyiv-based Spike Brokers, Ukraine exported 4.8m tons of food in December via its alternative Black Sea corridor which hugs its ...
Maersk opts for rail solution to combat Panama drought Reflecting the ongoing water situation in the Panama Canal, Danish carrier Maersk has amended its OC1 service, operating between Oceania and the Americas. The vessels that utilised the Panama Canal before will now omit the Panama Canal and use a land bridge that utilises rail to transport cargo across the 80 km of Panama to ...
Sif and Ballast Nedam create offshore wind decom JV Offshore foundations specialist Sif and Dutch-based construction and engineering company Ballast Nedam have signed a memorandum of understanding (MOU) to develop a joint venture offshore wind decommissioning company. Although it will take several years before a significant number of wind farms have to be dismantled, Ballast Nedam and Sif are convinced that they must prepare ...
Wah Kwong expands shipmanagement operations to Genoa Hong Kong shipping giant Wah Kwong has revealed it has expanded its shipmanagement operations to Italy with the acquisition of a Genoa-based shipmanagement company. Venture Shipmanagement Europe is the name of the new Wah Kwong subsidiary with offices in the heart of Genoa. The Hing Chao-led shipping company now has offices outside Hong Kong in ...
Poland welcomed into the European Community Shipowners' Associations The Polish Shipping Association has joined the European Community Shipowners' Associations (ECSA), becoming the body's 21st full member. The Polish Shipping Association brings together the Polish Shipowners' Association (ZAP) and the Polish Shipping Companies Association (PZPZ). Marcin Talwik, representing the Polish Shipping Association, said ECSA membership gave his members the chance to streng
Shipping's environmental priorities this year Dr Simon Bullock writes for Splash today, with analysis from researchers at the Tyndall Centre, University of Manchester, on shipping's green goals in 2024. 2023 was a year of savage and unrelenting climate disasters, further reinforcing the increasingly urgent need for far greater action to cut global greenhouse gas emissions. This was acknowledged at December's ...
US and UK launch strikes against the Houthis Update: Houthi leader has vowed retaliation, saying the militants are targeting American-British military sites and bases. Russia has calls for UN Security...
Sovcomflot continues corporate reshuffle as it creates another sanctioned tanker entity Sovcomflot has been moving its fleet around new corporate entities and finding new flagging arrangements for its tankers, in the...
Vehicle carrier operators pick up bill for Red Sea diversions Reduced volumes from longer voyages and increased bunker expenses will persist in first quarter, says Höegh Autoliners chief executive
ETS tax compliance rests on definition of 'shipping company' 'There will be disputes about this. It's inevitable,' says WFW partner
Safe Bulkers adds ninth newbuild with kamsarmax order Safe Bulkers has ordered another kamsarmax, its ninth ship on order. The bulker is slated for delivery in 2026
Erik Thun grows newbuilding orderbook with more MPVs and product tankers Swedish shipowner has added two 5,100 dwt multi-purpose ships and a pair of 7,999 dwt ice-class tankers to bring its...
Ningbo-Zhoushan rolls out intelligent guided vehicles in automation drive Each IGV can save more than $70,000 in annual labour costs, according to developer Fabu Technology
Cosco acquires Italian logistics firm Trasgo Trasgo provides end-to-end solutions across sectors, serving goods including automotive parts, fast-moving consumer goods, electronics, food and beverage, and furniture
Changing lanes: Longer voyages and extra port calls help carriers limit capacity influx As a steady flow of newbuildings on the water drove supply growth above demand last year, container shipping lines looked...
Türkiye, Bulgaria and Romania sign Black Sea mine clearance deal Ukraine vice-president claims success for country's unilaterally declared shipping corridor
Wah Kwong transforms to face future challenges Under the Venture Shipping umbrella, Wah Kwong aims to make its mark as a medium-sized vessel dry bulk operator by...
DP World to invest $3bn in India's Gujarat state DP World says the latest deals underscore its commitment to facilitating trade in Gujarat, one of the fastest-growing Indian states
MOL takes majority stake in Japanese offshore wind company The tie-up will help MOL expand into the offshore wind industry by combining Hokutaku's experience in wind power generation maintenance...
Iran confirms it was behind tit-for-tat seizure of tanker off Oman The suezmax ST Nikolas, formerly known as Suez Rajan, has been at the centre of a year-long dispute that ultimately...
Daily Briefing Owners can now refuse Red Sea orders barristers believe | US and UK shoot down 18 Houthi drones and missiles...
SC Ports requests study to deepen channel leading to North Charleston Terminal The dredging would be part of a multifaceted project to expand the terminal's capacity from 500,000 TEUs to 2.5 million TEUs within the next decade and allow it to handle ships of any size.
Soft seasonal spot gains deflate US truckload expectations for rebound Shipper-paid spot rates rose only marginally in December and are likely to stay close to the bottom established over the last six months, absent a sharp increase in demand.
New Jersey warehouse demand ebbs amid consumer spending slowdown Along with vacant warehouses, tenants that want to downsize or move through subleases are also adding to supply.
Minimal capacity growth to keep MPV/HL rates above pre-pandemic levels With capacity restricted, global MPV/HL rates are expected to rise again starting in the second quarter of 2024.
Stronger intermodal service in H2 leads to high customer satisfaction: survey The Journal of Commerce's biannual Intermodal Service Scorecard found customers were more satisfied with their domestic intermodal service in the second half of 2023 even as railroads handled more containers in the back half of the year.
US and UK reportedly prep strike as Houthis defy warning with another missile Britain's cabinet convened to discuss Red Sea crisis as maritime security firm points to navies, not merchant ships, as target of recent attacks
Torm prices $200m unsecured bond in support of LR2 acquisitions Danish owner taps market at 8.25% to partly finance SKS Greentankers buys
The US invited those with claims to the Suez Rajan's seized cargo to come forward. No one showed Federal lawyers are seeking default judgment after $74.7m sale of Iranian crude
Shipping law firm hit by record fine over missing dirty money checks Clyde & Co is punished for the second time in seven years after admitting shortfalls in anti-money laundering controls
Black Sea states team up to clear drifting Ukraine mines Deal between Turkey, Romania and Bulgaria comes after Ankara's refusal to let through UK minesweepers destined for Ukraine
Iran confirms tit-for-tat seizure of Greek-owned suezmax tanker The former Suez Rajan is in the hands of the Islamic Republic after its owner cooperated with US authorities
George Economou wastes no time moving to shake up Genco boardroom Greek tycoon is seeking 'improved value' as he views 'Genco's lagging performance'
Wind assist pioneers storm into the new year with dozens of ships Installations are set to double in 2024 but still low in terms of fleet size
WTIV rates soar past $320,000 but owners cautious on new orders, Clarksons says Questions over wind farm investment decisions and turbine size are limiting contracting at shipyards
Somali pirates set for new attacks after breaking six-year hijack drought Annual IMB report raises concerns after the first attack off Somalia for six years
Merhi's Pelagic cautious on Red Sea after Ardmore attack close to its LR1 tanker Shipowner had a vessel just 3.5 miles away from Ardmore Encounter when it was targeted by Houthis
Going, going, gone! How shoppers missed Eagle Bulk's winter sale This week's Streetwise explains why Wednesday was a key date in the M&A game, while a deal moves forward minus a certain US bank
New ship investment company Alpha Omega Marine emerges with first buy And it is an ultramax bulker with trader Cargill as charterer
Cyber attacks: Are shipowners a richer catch than their vessels for hackers? Hacking ships is hard, DNK's Irene Philipps says, but going after suppliers is easier
Black Sea states team up to clear drifting Ukraine war mines Deal between Turkey, Romania and Bulgaria comes after Ankara's refusal to let through UK minesweepers destined for Ukraine
VLGC rates may have much further to fall, Joakim Hannisdahl warns Shipping investor says US-Asia price differentials do not support current elevated earnings
RCL firms up $226.4m container ship quartet at Chinese shipyard CSSC emerges as yard selected for Thai shipowner's order
Maersk shuns Panama Canal in favour of 'land bridge' Container line trying to mitigate the impact of reduced ship transits
Tufton Oceanic sells oldest tankers for hefty profit Fund offloads two MRs while stretching charter on another
Capesize rates suffer historic plunge as unemployed tonnage builds in Atlantic Average rates for sector drop 20% in a day even as Pacific market shows signs of life
Greek software firm Harbor Lab breaks into India with Great Eastern deal Digital maritime player is taking the next step, winning big clients in new markets
Masked gang board Greek-owned tanker between Iran and Oman Suez Rajan, now St Nikolas, was at the centre of dispute involving seizure of Iranian oil by US
Red Sea effect to hit Hoegh Autoliners' bottom line as shares plunge Norwegian car carrier working to offset by cargo repricing
Darren Maupin's Pilgrim Global rivals Angeliki Frangou as biggest Navios Maritime shareholder Ireland and US-based funds add 6% to holding in giant Greek owner
Fires, collisions and oil spills: 50 tanker incidents shine a light on shadow fleet risk Average age of ships leaving Russian ports has increased sharply, report says
DHT reveals big jump in VLCC spot earnings for first three months US owner's tankers averaging $56,300 per day so far in 2024
RCL firms order for $226.4m container ship quartet at Chinese shipyard CSSC emerges as yard selected for order from Thai shipowner
Safe Bulkers ratchets up newbuild campaign with latest kamsarmax order Polys Hajioannou clocks up 16th bulker order in the past three years
Hunter Group raises $12m to finance VLCC charter comeback Norwegian investment company issues 70.9m shares at NOK1.75
Plaintiff in SwissMarine arrest case backs down and sets bulker free Commodity Care withdraws petition for arrest shortly after rice producer files defence alleging wrongful arrest
BW Offshore rejects Sohmen-Pao's BW Energy mandatory offer Independent directors join BW Energy board in turning down Singapore parent's bid
Prolonged Red Sea crisis could result in significant profits for liner firms, says HSBC However, Hong Kong bank says rates will collapse back to December levels if the situation is resolved quickly
UN Security Council adopts resolution demanding Houthis halt Red Sea attacks Russia abstains saying text of resolution should not set a precedent and that it gives legitimacy to US-led task force
Arrested SwissMarine bulker set free by Gujarat High Court Plaintiff withdraws petition for arrest shortly after rice producer filed defense alleging wrongful arrest
Wah Kwong opens up ship management base in Italy as fleet grows Hong Kong group follows London office with another European operation
Wah Kwong's Hing Chao wants to enable 'future ships' as bulker business expands Hong Kong group eyeing growth for its three divisions
Golar FLNG unit arrives off BP's Mauritania-Senegal gasfield But floater heading to Canary Islands to await major's completion of project infrastructure
Chinese-owned product tanker languishes under arrest in Singapore ES Right held by two Asian marine services companies against joint claim of $607,000
Capesize rates suffer historic one-day Atlantic plunge as unemployed tonnage builds Average rates for sector plunge 20% in a day even as Pacific market shows signs of life
Maersk to use freight rail to circumvent Panama Canal amid drought Maersk has opted to bypass the drought-stricken Panama Canal and use rail to transport cargo across Panama.
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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