Could glass bubbles be the key to the success of future LH2 carriers? Hydrogen technology is seen as key to the future of clean energy and shipbuilders and designers are increasingly turning their attention to creating the liquid hydrogen (LH2) carriers that will be essential
Steve Nevey chosen as new head of Washington State Ferries Washington State Secretary of Transportation Roger Millar has announced that Steve Nevey will serve as assistant secretary for the Washington State Ferries Division, succeeding Patty Rubstello, who is stepping down as head
Strategic Marine delivers StratCat 27 CTV to Taiwan operator Singapore shipbuilder Strategic Marine has delivered a hybrid-ready StratCat 27 CTV to Prosperous Wind Shipping, a Taiwan affiliate of Pacific Radiance Ltd. Set to start operation for Prosperous Wind at Taiwan's Yunlin
OSG's Sam Norton: "We've stuck the landing!" "It would be appropriate to state that we have 'stuck the landing' with our fourth quarter performance," said Sam Norton, president and CEO of Tampa, Fla., headquartered Overseas Shipholding Group, Inc. (NYSE:
Norway's BOA Group orders two new Damen ice class ASD tugs Damen Shipyards Group is to deliver two newbuild ice class ASD tugs to Trondheim, Norway, headquartered BOA Group later this year, Though the contract was signed just last month, on February 20,
CMA CGM adjusts Empty Equipment Imbalance Surcharge from Turkey to Spain In response to evolving regional developments, CMA CGM has adjusted its Empty Equipment Imbalance Surcharge (EEIS) from Turkey to Spain. Effective from 15 March 2024 (loading date) until further notice, the EEIS will be applicable within the IntraMed region, with origin from Turkey (excluding Mersin & Iskenderun) and destined for Spain Med. Also, this surcharge will apply to dry (including specia
TNPA commits funding to revitalize Durban Port roads The Port of Durban's road infrastructure is facing mounting pressure due to a surge in truck traffic, prompting Transnet National Ports Authority (TNPA) to allocate US$12.5 million (R233 million) for road rehabilitation in key container handling port areas - the Container and Maydon Wharf, as well as the liquid bulk Island View precinct. As a vital contributor to the South African economy, the Po
Red Sea challenges boost charter rates Analysts and brokers are continuing to report charter rates spiralling upwards as carriers look to plug gaps in their diverted Asia to Europe services as rates, which were falling decisively in early December, make a rapid rebound. Linerlytica's charter index increased 5% last week with the larger sizes getting the biggest boost as supply was limited. "Maersk and CMA CGM have been particularly ac
Hapag-Lloyd teams up with Ankeri Solutions in "transformative" partnership German shipping company Hapag-Lloyd has entered into a contract partnership with Ankeri Solutions, an innovative software firm specializing in maritime sustainability solutions. This strategic alliance aims to bolster Hapag-Lloyd's bold decarbonization agenda by harnessing their longstanding relationship and leveraging Ankeri's advanced toolset. In response to the pressing call for eco-friendly s
Valencia Port Authority proceeds with second solar plant on East Dock The Port Authority of València (PAV) is steadily proceeding with the construction of its second solar photovoltaic plant, situated on the rooftop of the vehicle silo within the VTE concession area on the East Dock. Already visible at the Spanish port's base, this installation commenced in March 2023 and is anticipated to conclude in the final quarter of the current financial year. The primary obj
Port of Brisbane inks 10-year lease deal with DSV Port of Brisbane has finalized a 10-year lease deal with DSV Air & Sea, a global leader in transport and logistics. The agreement entails the construction of a warehouse and container hardstand spanning 48,000 square meters on the Fisherman Islands. This new facility at Fisherman Islands will serve as a centralized location for DSV, consolidating its Brisbane-based road and sea freight operations
HD Hyundai partners with Neptune Lines for EPLO services on four car carriers HD Hyundai Marine Solution has inked a deal with Greek operator Neptune Lines Shipping and Managing Enterprises to deliver Engine Part Load Optimization (EPLO) services for four car carriers. Teaming up with Accelleron, HD Hyundai Marine Solution launched the EPLO service, securing its initial order for one vessel in October of the previous year. While marine engines are typically designed for op
Maersk revises PSS from Far East to East Coast South America Maersk has announced a revision of its Peak Season Surcharge (PSS) for shipments from Far East Asia to East Coast South America for all dry containers. The updated surcharge will be effective from 15 March until 31 March 2024. Origin Destination Effective Date All 20 Dry All 40 Dry 45hdry Brunei, China, Hong Kong, Indonesia, Japan, Cambodia, Korea South, Laos, Myanmar (Burma), Malaysia, Philippin
ZPMC dismisses US politicians cybersecurity allegations China-based port equipment manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) responded to recent allegations claiming that its machines could pose a cybersecurity threat to the United States. The largest port crane manufacturer in the world said it "always strictly adheres to the laws and regulations of relevant countries and regions and has been operating in compliance with the applicable la
Singaporean bulk carrier hit by Houthi missiles in mistaken identity Houthi rebels have apparently fired at a Singaporean-owned bulk carrier after mistaking it for a US ship. The 2012-built Singapore-flagged Supramax vessel, Propel Fortune, was hit by two anti-ballistic ship missiles around 3.55pm Yemen time on 8 March, but avoided being hit. The Maritime and Port Authority of Singapore told local media that the ship and its 26 crew members escaped without any dam
Cargo ship smuggles cigarettes into Kaohsiung on pretext of repairs Taiwanese prosecutors have charged nine persons who allegedly tried to smuggle 2,000 boxes of duty unpaid cigarettes through Kaohsiung port. In an announcement released on 8 March, it was disclosed that around 6 pm local time on 31 December 2023, a Togo-flagged cargo ship, Shun Feng, had entered the Taiwanese port from Hong Kong, on the pretext of seeking maintenance and repair at a nearby shipya
Port of New York and New Jersey handles over 660,000 TEUs in January The Port of New York and New Jersey experienced a strong start to the year with increased total volume and auto shipments. In January, total volume rose 3.4% compared to the same month last year, reaching 667,346 TEUs (368,099 containers). Additionally, auto shipments saw a significant surge, with 35,302 autos handled in the first month of the year, translating to a 22.1% increase over January 20
Gram Car Carriers refinances 2015-built vessel with $41m loan Norway's Gram Car Carriers has agreed to refinance the 6,700 ceu with a leading Japanese bank at competitive terms. The new $41m loan has a duration matching the current charter for the 2015-built carrier ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR +4.26% under the previous lease financing ...
Benelux Overseas adds to gas carrier orderbook in China Benelux Overseas of Greece has firmed up a contract for the construction of one more midsize gas carrier in China. Brokers in Athens are reporting Kostas Angelou's firm taking an option at Huangpu Wenchong for a third 48,000 cu m vessel for delivery in 2027. Last November, Benelux commissioned the CSSC-affiliated yard to build two ...
Perdana seals charter deals with Dayang Malaysian OSV player Perdana Petroleum has struck a deal to charter out two vessels to fellow contractor Dayang Enterprise. The Bursa Malaysia-listed company said its subsidiary Perdana Nautika had won contracts for an anchor handling tug and supply (AHTS) vessel and one accommodation work barge worth about $2.9m for the firm period of the charters. ...
Russian crude exports seen peaking as sanctions hit home Efforts by regulators in the US, Britain and the European Union to engage more directly with shipowners and service providers linked to Russian oil exports are paying off with clear signs demand for Russian crude is cooling as sanctions tighten. Over the past six months, authorities in the West have started to clamp down ...
Gulf Marine Services pens first part of two-phase deal in the Middle East London-listed liftboat operator Gulf Marine Services (GMS) has signed the first of a two-phase contract for one of its vessels operating in the Middle East. The two phases of the new deal, according to the liftboat operator, are set to last four years. GMS also received a letter of award relating to the second phase ...
ZPMC responds to American cybersecurity concerns The world's largest port crane manufacturer, Shanghai Zhenhua Heavy Industries (ZPMC), has denied claims from US politicians that its equipment poses a cybersecurity threat. A US congressional probe found questionable communications equipment on Chinese-built ship-to-shore cranes at American ports including cellular modems that could be remotely accessed, according to a report carried in the Wall
Sanko sells last ship One of the most famous names in Japanese shipowning history, Sanko Steamship, has let go of its last ship. The three-year-old, 82,000 dwt, Tsuneishi-built has fetched just under $42m from an undisclosed Greek account. Top management at Sanko told the Japan Maritime Daily in February that the company would exit shipowning, putting this last ship ...
Ukraine sets war-time grain exports record More than 1,000 merchant ships have transited Ukraine's seven-and-a-half-month-old grain corridor in the Black Sea, making the new export channel more productive than the earlier United Nations-backed Black Sea Grain Initiative. Ukrainian seaborne grain exports rose by 30% year-on-year in February to 5.4m tonnes, the highest level since the start of the conflict two years ...
Swire Bulk sells its two oldest ships Broking reports show Singapore's Swire Bulk has let go of its two oldest ships. Swire Bulk, which boasts one of the youngest fleets among major bulker owners, has sold the Lintan and Liangchow - both 39,800 dwt and built in China in 2015 - in an en bloc deal to Global Meridian for a total ...
Saverys goes on the offensive to address Wall Street critics Euronav chief enters the 'lion's den' to confront sceptics and the negative reactions on his bold vision for the company...
Interest in ESG greatly diminished among US investors Interest in ESG among US investors has declined over the past year and a half, forum hears, as shareholder returns...
More consolidation on the cards for shipping's digital tech sector ZeroNorth chief Søren Meyer has more acquisitions in his sights as shipping's once-fragmented tech sector accelerates its consolidation
Containership charter market strengthens on scarcity of prompt tonnage Charter rates for feeder and sub-panamax tonnage have shown the biggest gains in the past week
Shippers wary of Gemini reliability promise Maersk and Hapag-Lloyd's hub-and-spoke network model promises much. But the challenge will be in the execution, and convincing customers
Turkish oil storage terminal stops accepting Russian oil on reputational risk Türkiye became third-biggest importer of Russian oil since the invasion of Ukraine, after the US and the EU embargoed Russian...
Gang warfare disrupting Haiti ports Major carrier pulls calls and advises owners to consider diverting cargoes in transit elsewhere, as P&I correspondents warn of descent...
The week in charts: Third-party spoofing hits Black Sea traffic | Record volumes of Russian oil shipped | Crude tanker newbuilding orderbook remains at historic lows Saudia's Red Sea box port traffic decimated by Houthi attacks, bulk carriers divert in record numbers from Red Sea and...
The week in newbuildings: Orders valued at $3bn signed Ordering activity continues to be dominated by bulk carriers and tankers, although several high-value contracts were reported for the gas...
US east coast labour contract looms large for shippers Shippers should send their cargo early, ahead of the ILA labour contract expiration in September, and establish west coast lanes...
Chinese demand props up Russia oil exports amid Western pressure Some recently sanctioned tankers are currently located in or near Chinese waters. Two of them called at ports in China...
Red Sea rerouting sees no change in boxship sizes Larger ships provide better slot costs on the longer route to Europe. But the size of vessels on both European...
Iran allows crew on board seized Greek tanker St Nikolas to be swapped The fate of the tanker formerly known as Suez Rajan, which has been embroiled in a long-running tit-for-tat series of...
Dozens of drones shot down after Houthis target bulker Propel Fortune Along with the dry bulker, several US destroyers were also targeted in a massive drone attack in the Red Sea...
Daily Briefing Black Sea shipping hit by rising Russian GPS jamming | Container shipping has no capacity for another crisis | Schacht:...
ZPMC denies cranes pose cyber risk after US investigation finds unauthorised devices ZPMC says it takes the US concerns seriously, but asserts its cranes do not pose cyber security risks to ports
IPI wave building in Southern California while Pacific Northwest lags: analyst If the Southern California inland point intermodal surge continues into the "danger zone," then importers might do well to consider taking advantage of alternative routings in the Pacific Northwest and Western Canada, says analyst Larry Gross.
Southeastern Freight Lines adds to regional LTL terminal network amid growth push The South Carolina-based company has nearly doubled the number of doors at a Kentucky service center, the latest in a series of expansions planned in the US LTL sector.
Freight interests clash with California regulator over emissions mandates Marine terminals, truckers and warehouse operators say the state must be mindful of the large costs and ambitious deadlines it is imposing on the freight transportation sectors to reduce emissions.
US retailers upgrade H1 import forecast despite global shipping disruptions In a sign of confidence in consumer demand, Global Port Tracker expects US imports for the first six months of the year will be up 7.8% compared with the first half of 2023.
Rotterdam volume decline a buffer against any Red Sea container surge: CEO A potential spike in vessel arrivals and volumes once the Red Sea crisis is resolved would be similar to the disruption caused by a regular winter storm in the North Sea, according to the head of Europe's biggest container port.
TPM24: Capacity balance on major trades can weather Red Sea 'challenge': analyst The crisis has been a logistical headache for container lines, but overcapacity in their fleets is enabling them to cover the loss of effective capacity being used up by the longer transits around southern Africa, Lars Jensen told TPM24.
Saverys enters 'lion's den' to push back against Wall Street doubters Euronav chief executive fires back at analysts who criticise opposition to Frontline merger
Michael Parker cure for shipping's years-long slump in global capital markets The Citi lender tells Capital Link conference some news that could cheer his investment-banking counterparts
Vafias family firm Brave Maritime shifts bulker S&P focus with latest deals As capesize values soar, the Vafias family's private shipping arm turns its attention to smaller bulker sizes
Ports in sinking Gulf Coast face biggest threat from rising sea levels Study is the latest highlighting the impact of climate change on major centres that are vital for shipping
US tanker owners set for Biden drilling boost, says OSG boss Sam Norton Overseas Shipholding Group says New York-listed company set for boost from Alaskan volumes
Silver lining: Genco sells capesizes for $10m more than deal it terminated Quick resale of bulker pair shows strength of secondhand market
Samos Steamship tied to lucrative suezmax sale after newbuild surge An 11-year-old, high-spec Japanese crude carrier is said to have fetched up to $68m
CMA CGM's Red Sea return is generating fresh uncertainty for shippers French container line's decision in February to resume Red Sea shipments is introducing new question marks
Greek newbuilding hunger holds strong with tankers in high demand Up-to-date statistics compiled for London Greek association confirm Hellenes' leading role in keeping shipyards busy
Overseas Shipholding Group doubles fourth-quarter profit with smaller fleet New York-listed tanker owner reveals it purchased suezmax for $20m before major refit
Neu Gas Shipping plots how to use cash pile to go after new generation of VLGCs 'in a big way' Company considers growth path in LPG sector having harvested cash from single veteran vessel
Analysts need bigger 'toolkit' to explain increasingly complex market spikes, Clarksons says Researcher Trevor Crowe says shifts in momentum involve many more factors than was the case 20 years ago
Gibsons says VLCCs set to profit as pressure grows on Russian shipments But broker argues suezmaxes and aframaxes will be the big losers as tankers return to mainstream markets
New Greek AI bunker platform launched as Schoeller and Baseblue team up Fuelink operation provides a one-stop shop for data management and value chain optimisation
Schoeller and Baseblue team up to launch new Greek AI bunker platform Fuelink operation provides a one-stop shop for data management and value chain optimisation
Spain's biggest shipowner Elcano sells capesize brace in hot market Diversified, traditional player grasps opportunity to sell a pair of 19-year-old capesizes, brokers report
Iran frees seafarers from seized Greek tanker that escalated Red Sea crisis Repatriation of 17 crew members began on Sunday as replacements were brought in
Evangelos Marinakis dives into midsize gas carrier newbuildings in fresh energy play Greek shipowner orders quartet in China while talks roll on in South Korea for more tonnage
Clarksons hikes rate forecasts as bulkers make strongest start to year since 2010 Analysts say capesize earnings $11,000 higher than initial forecasts for first quarter
Nordic American Tankers cashing in on Red Sea crisis Owner secures $70,000 per day for trip to Singapore from Europe
New Gaza maritime corridor opens with first food aid shipment EU, UAE and US backing sea route from Cyprus to supply food for starving in Gaza
Cash and capability: How former shipbroker Tim Jones is driving fresh growth at historic German shipowner Neu Shipping president to tap into mining projects, newcastlemaxes and freight trading to grow fleet
Shipping stock rally drives BW LPG and MPC Container Ships into major Oslo Bors index BW LPG and MPC Container will be included in the OBX index after close on 15 March
Iran frees seafarers from seized Greek tanker which escalated Red Sea crisis Repatriation of 17 crew members started on Sunday as replacements were brought in
Cash and capability: How shipbroking legend Tim Jones is driving fresh growth at historic German shipowner Neu Shipping president to tap into mining projects, newcastlemaxes and freight trading to grow fleet
Greek shipowner Benelux adds third LPG carrier to newbuilding series Greek shipping company has a total of three 48,000-cbm LPG ships on order at CSSC Guangzhou Huangpu Wenchong
Editor's selection: Houthi attacks claim seafarer lives, celebrating International Women's Day and George, the governance cop Which stories have been setting the news agenda this week?
Navigating the complexity: Artificial, intelligent, but not always AI Maritime machine learning market is worth $3.5bn and growing
Shipping Corp of India sells elderly product tanker for recycling Mumbai-based shipowner says goodbye to tanker built in the late 1990s
ATL bulker arrested in India heads for Brazil while court case continues Chinese shipowner took 11 days to post security for German boxship owner's collision damage claim
Tighter sanctions and stronger tanker rates hurting Russian crude exports, says Poten Broker believes Putin may have to cut prices further
Amerijet Chief Commercial Officer Eric Wilson abruptly departs Ongoing efforts to stabilize finances at Amerijet appear to have cost Chief Commercial Officer Eric Wilson his job.
Airbus' distinctive new airline ready to haul whale-size loads Airbus for years has operated whale-shaped cargo jets to support its manufacturing operation in Europe. Now it has dedicated a portion of its fleet to haul extra-large shipments for external customers.
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