Rauma shipyard lays keel for first of four corvettes Finnish shipbuilder Rauma Marine Constructions (RMC) today laid the keel of the first of the four Squadron 2020 project multi-role Pohjanmaa-class corvettes that it is building for the Finnish Navy. The keel
Denmark will ban scrubber water discharges The Danish Ministry of the Environment said today that, from July 1, 2025, the discharge of exhaust gas scrubber water from ships will be prohibited in waters up to 22 kilometers (about
Pelagic Partners invests in two high-end 2021-built PSVs Limassol, Cyprus, based vessel owner and shipping fund manager Pelagic Partners reports that it has successfully completed an investment in two state-of-the-art platform supply vessels (PSV) that will see it partner with
Due diligence needed for maritime tech adoption to minimize risk with digital transformation Rapid technological change, complex regulation and competitive pressures are driving digital transformation in the shipping industry. But navigating a confusing software landscape can be difficult and sound decision-making is essential to minimize innovation risk, according to OrbitMI. Industry spending has soared in recent years on intelligent process automation solutions geared to boosting effi
Aggregate Industries to significantly invest in Port of Liverpool facility Aggregate Industries (AIUK) has unveiled a significant investment plan to meet the growing demand for cementitious products in the UK construction sector. The company has announced the construction of a new 'super shed' at the Port of Liverpool, owned by Peel Ports Group, the UK's second largest port operator. This expansive new import facility, one of the largest in Europe, will enable the stora
Platform operators launch digital sea and inland port networking initiative Platform operators Portbase and RheinPorts have launched a ground-breaking project in a joint initiative to digitally connect the maritime and inland port communities. The two parties aim to optimise the flow of data between the seaports in the Netherlands and the inland ports on the Rhine. The Port of Rotterdam, duisport and Port of Switzerland are supporting this project as shareholders and act
Global Bunker Indices experience modest decline during week 15 During the 15th week of the year, the Marine Bunker Exchange (MABUX) global indices saw a slight downturn. The 380 HSFO index dropped by US$3.26 to US$550.73/MT. Similarly, the VLSFO index decreased by US$3.08 to US$699.08/MT and the MGO index experienced a minimal decline of US$0.30 to US$906.07/MT. "As of the time of writing, there wasn't a discernible trend in the global bunker market," stated
Port of Klaipeda makes history with inaugural ship-to-ship LNG bunkering operation The Port of Klaipeda achieved a historic milestone with the successful completion of its first ship-to-ship LNG bunkering operation. On 9 April, the LNG tanker "Avenir Aspiration" transferred 326 m³ of liquefied natural gas to the 170-meter-long CMA CGM container vessel Containerships Aurora. This event signifies a significant advancement in maritime services within the key Lithuanian transportat
EU tanker import tonne mile demand up 12% as ships avoid Red Sea area "In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for EU tanker imports. Now, attacks on ships in the Red Sea area have caused average sailing distances to increase a further 16% and tonne mile demand to increase 12% despite falling volumes," stated Niels Rasmussen, Chief Shipping Analyst at BIMCO. During the
Global Ports strengthens Petrolesport operations with new terminal equipment Global Ports, Russia's major port and terminal operator, has purchased three reachstackers and eight terminal tractors for its multipurpose marine terminal Petrolesport in the Big port of Saint Petersburg. The reachstackers were produced by China-based SANY equipment manufacturer and the terminal tractors were supplied by Chinese commercial vehicle manufacturer SHACMAN. Two of the reachstackers h
Normalising market challenges Transpacific contract negotiations Mainline operators have lost half of the gains seen during the early days of the Red Sea crisis, and this is placing the market in shippers' favour during Transpacific contract negotiations, according to the Baltic Exchange's latest report. Writing in the report, Vespucci Maritime CEO Lars Jensen noted that the pace of rate declines on the Transpacific and Asia-Europe lanes is slowing down, for n
Svitzer Europe appoints new Chief Commercial Officer Svitzer Europe, a global towage provider, has appointed Sara Gerdner Kalle as its new Chief Commercial Officer, effective from 1 April 2024. With nearly 25 years of experience in the logistics and supply chain industry, Sara Gerdner Kalle brings extensive expertise and strategic insight to her new position. "The opportunity to join Svitzer as the CCO for Europe was incredibly appealing due to the
Port of Valencia unveils bidders for new terminal construction The Port Authority of Valencia (PAV) has announced the four Temporary Joint Venures (TJVs) that have submitted bids for the tender for the execution of the works for the container terminal in the northern expansion of the Spanish port. The TJVs are: Acciona Construcción, SA - Jan de Nul nv - Grupo Bertolin, SAU Dragados, SA - Rover Maritime, SL - Torrescamara y Cia de Obras, SA - Dredging Interna
US container imports remain stable, with several potential global challenges to be seen In March, US container import volumes saw marginal growth compared to February, edging up by only 0.4% to reach 2,145,341 TEUs. However, TEU volumes experienced a significant increase of 15.7%, compared with the same month last year, and marked an even larger increase of 20.6%, compared with pre-pandemic levels in March 2019. Notably, the impact of the Chinese Lunar New Year might have obscured e
Box volumes increase at Georgia Ports amid ongoing expansion projects The Georgia Ports Authority (GPA) reported 436,000 TEUs in March, marking an 18.5% surge in trade compared to the same month last year. "With double-digit growth in the first quarter, we're excited about where we're going and thankful for the continued trust our customers place in Georgia Ports. No other port in the country can match Savannah's efficient operations, thanks to our GPA employees an
Maersk's former seafarers turn innovators with groundbreaking project for fresh water delivery from ships to ports A team of three Maersk employees, who are former seafarers, decided to undertake an innovative project that could store and deliver fresh water from vessels to ports, aiming to provide a solution for fresh water scarcity faced by regions all over the world. Cargo ships undertaking global trade are equipped with fresh water generator systems that produce clean drinking water by distilling sea wate
Maersk ship dodges Houthi missile United States forces have shot down an anti-ship ballistic missile that Houthi rebels allegedly fired at a Maersk ship in the Gulf of Aden. The US-flagged 2,500 TEU Maersk Yorktown was being escorted by the US Navy as it carried out feedering between Oman and Djibouti. US Central Command said that the ABSM was shot down at 3 am Yemen time on 9 April. It said, "The ASBM was likely targeting the MV
DryDel Shipping adds kamsarmax bulker to its fleet Greek bulker player DryDel Shipping has expanded its fleet with a 2015-built kamsarmax bulker. The 81,841 dwt Beluga, formerly the Nord Beluga, was delivered in Singapore to DryDel Shipping on Wednesday. It has been known for some time that the vessel has been bought for $27m but the buyer was described by brokers as an ...
Dolphin Drilling agrees $40m private placement Semisub rig owner Dolphin Drilling has raised NOK432m ($40m) via a private placement of some 72m shares. The company said in Oslo filing the net proceeds would be used to secure adequate runway towards having three out of the four rigs back in operation as well as to provide contingency related to uncertainty about the ...
Synnøve Seglem steps up to CEO role at Knutsen OAS Shipping Synnøve Seglem has stepped up to the CEO role at Norway's Knutsen OAS Shipping. Local media reports Seglem has taken over from Nils Kristian Strøm who is retiring after about 11 years at the helm and more than 20 years at Knutsen in various senior positions. Seglem, who joined Knutsen as a project engineer in ...
Baltimore bridge investigation targets ship's electrical failure Investigators in Baltimore are focusing on the Dali's electrical power system and its circuit breakers and have called in the ship's builder, Hyundai Heavy Industries from South Korea, with a preliminary report on this year's most high-profile shipping accident set to be released in the first week of May. Jennifer Homendy, chair of the National ...
Denmark bans scrubber discharges Denmark's government has joined the growing list of countries taking action against open-loop scrubbers, having reached a "broad political agreement" to ban the discharge of washwater from scrubbers into its waters, starting next year. The ban that covers ships with open-loop scrubbers out to 22 km from the Danish coasts comes into force on July ...
Geneva Dry Dialogues: Propel Marine Established in 2018 and headquartered in Western Australia, Propel Marine has built a strong name for itself as a go-to in Asia-Pacific for marine surveying, project cargo management, marine warranty surveys, inspection, and audit with operations now spanning major Australian ports, extending across the Tasman Sea to New Zealand, and reaching key global maritime centres ...
D'Amico buys MR product tanker for $43.5m Italian owner d'Amico International Shipping has agreed to buy the 50,000 dwt MR product tanker Amfitrion for a consideration of $43.5m. The acquisition was made by the Italian firm's Irish subsidiary, d'Amico Tankers. The vessel was built in 2017 by Samsung Heavy Industries Ningbo in China. According to the Equasis database, the tanker is managed ...
Boxship fleet upgrades stir debate The CMA CGM Arctic, a giant 15,264 teu containership, only made its maiden voyage out of the docks of Hyundai Samho shipyard in South Korea in June 2022, and yet it is already being penned in for a drydocking. The 366 m long ship (pictured) is one of the first of around 100 vessels ...
New maritime security firms emerge on the back of 'worrying' return of Somali pirates Similar to 15 years ago during the last Somalia piracy cycle, new maritime security companies are emerging. A total of 33 incidents of piracy and armed robbery against ships were recorded around the world in the first three months of 2024, an increase from 27 incidents for the same period in 2023, according to the ...
Maersk unveils novel way ships can deliver fresh water to parched ports Three Maersk employees, all former seafarers, have come up with a system to deliver fresh water from vessels to ports. The project optimises an existing fresh water generation system onboard container vessels to further store and deliver it in tank containers to ports and regions facing scarcity of fresh water. Fresh water scarcity is an ...
Detained Rostock ship raises knotty sanctions questions The detained Atlantic Navigator II shows what happens when sanctions clash
Coalition calls for greater transparency on methane slip data in LNG engines One T&E representative argues that betting on LNG 'a complete trap', and if more data about methane slip was available...
Marine insurance premiums won't hit opcosts, Drewry predicts P&I clubs approach underwriting balance, while H&M insurers still slugging it out for market share
Ammonia bunkering coming to Norway and California The project at Fjord Base in Norway has been called a 'milestone' for ammonia as a source. Elsewhere, MAN Energy...
Maersk completes China's first ship-to-ship methanol bunkering in Shanghai Danish shipping giant carried out the landmark bunkering for its second methanol-powered containership Astrid Maersk, which is due for delivery...
Travlos calls on EU to safeguard shipping for public benefit Shipping panel at Greek political and economic summit underlines role of industry in preserving EU's competitiveness and security
Protest group threatens supply chain disruption The war in Gaza and actions in Yemen have seen protests against events in the region. One group is now...
Bangkok port's newest relocation attempt unlikely to materialise Pollution reduction cited as the main reason behind relocation, but other private terminals nearby could make any move redundant
Daily Briefing Cansi chief seeks united front with Japan on shipbuilding amid US reshoring push | Baltimore bridge collapse owners liability limitation...
Economic indicators point to slow growth in US freight demand A rebound in the US Freight Transportation Services Index is the latest of several indicators pointing to stronger seasonal freight activity, but excess capacity is diluting the impact of demand.
South Korea plans $4 billion program to double container ship capacity The government's latest move to increase the size of the national fleet has reportedly led HMM to reevaluate its own five-year expansion plan to invest around $11 billion, including funds for new vessels.
India-US ocean rates continue steady retreat from Red Sea-induced boost Still, more capacity is on the way for India-US shippers, with Ocean Network Express due to start its new West India-USEC standalone connection in late May.
NWSA unveils incentive program to boost carrier, rail and terminal performance The $11 million program that seeks to boost schedule reliability and volumes comes as the Seattle-Tacoma gateway saw its share of US imports from Asia decline year over year in February.
US import surge comes amid restocking, but puts port fluidity in the crosshairs The import strength goes beyond restocking, showing the impact of a recovery in housing and the US manufacturing resurgence, writes Peter Tirschwell.
Opec: Oil demand remains robust despite price rises Producer group maintains growth predictions until the end of 2025
Rare deal takes Costas Dellaportas firm DryDel into ice-class bulker space Acquisition of former Norden vessel boosts Greek firm's owned and ordered fleet to 21 ships
DFDS to deploy fleet of battery electric ferries in the English Channel Initial pair will be in service by 2030 along with additional vessels running off ammonia and methanol
'Extremely poor picture': Lloyd's of London slated over 'inadequate' environmental and human rights oversight Nearly half of large Lloyd's members scored lowest rating in sustainability report
Trafigura enters talks to lock in crude and product cargoes for a decade at French refinery Trader's joint venture with Entara enters into talks to buy Fos-sur-Mer plant
Hafnia denies buying TRF MR tanker duo it operates in chemical pool Owner says it has not acquired vessels reported sold by brokers
Secondhand tanker market players in 'euphoric state' as deal flow accelerates, Greek brokers say Allied Shipbroking argues money is best invested in modern assets currently
London lawyers Mike Lax and Stuart Dench jump ship to Hannaford Turner Legal experts had joined Rosling King in 2021 as part of a merger deal
K Line, NS United and Itochu named as owners of ammonia-fuelled bulker First of MAN Energy Solutions' new engines set to be installed in 2025
Exit shocks Copenhagen: Michael Bonderup leaves bulker operator BaltNav Line Lund Clausen is stepping in as partner at the handysize specialist
Union Maritime drives deeper into LR2 tanker market to extend $1.2bn newbuilding push Laurent Cadji explains investment in tanker segment and efforts to cut emissions
Synnove Seglem steps into top job at family's Knutsen OAS Shipping Deputy boss takes over as managing director as Nils Kristian Strom retires
Paschalis Diamantidis extends dry bulk push with kamsarmax bulker buy Greek shipowner pays below market levels to acquire his fourth bulk carrier
MOL and Hitachi Zosen team to trial methane slip solution on LNG-fuelled coal carrier While LNG fuel can reduce carbon emissions, methane slip remains an issue, says MOL
Svitzer Europe hires Maersk commercial chief to drive digitalisation Svitzer's owner AP Moller-Maersk is in the process of spinning off the company
Evangelos Marinakis scores healthy profit on product tanker sale to d'Amico International Shipping After a string of in-the-money purchase option buys, Italy's only listed shipping company expands with third-party vessel
Then there were none: Fractal fleet fractures after UK blacklisting blow The fleet of 26 vessels at the start of 2024 are now under five different management companies
'Kill' the IPO: Trading giants Vitol, Mercuria and Trafigura pledge to stay private Top bosses ask why they would contemplate public listing when lenders are throwing money at them already
Houthi attacks open Red Sea as Russian oil shipment corridor as Western and Chinese owners pull back Main targets of attacks reroute vessels while others continue to move through zone, says Windward
MOL and Hitachi team to trial methane slip solution on LNG-fuelled coal carrier While LNG fuel can reduce carbon emissions, methane slip remains an issue, says MOL
Harry Vafias' C3is to slash share count by 99% to keep Nasdaq listing Reverse stock split will be carried out in the US on Thursday
Greek shipowner Ion Varouxakis breaks into tankers as Prodigy inks newbuildings Deal sees former FreeSeas chief executive move into the product market
'New normal': Stolt-Nielsen shares on the rise after strong first quarter Chemical tanker owner's stock shoots up after positive response to results from analysts
Euronav paid out nearly $6m in severance as Saverys family cleared out bosses Annual report shows big termination awards to former CEO Hugo De Stoop and finance chief Lieve Logghe, among others
Hanwha Ocean floats unusual tender for early delivering VLCC berths Shipbuilder takes a unconventional approach to filling two unexpectedly vacant slots, but will buyers bite?
Five banks win battle to fund vessel electrification drive in Singapore Maritime regulator says it will now look into alternative financing solutions beyond debt financing
US hedge fund founder slams Euronav and Frontline tanker megadeal Alexander Saverys responds by saying victory in legal battle over merger collapse was not a foregone conclusion
Klaveness Combination Carriers sees rates hit all-time highs fuelled by tanker focus Better than expected bulker market also keeps Cabu caustic soda ships at strong levels
Qatar scoops lion's share of first quarter LNG carrier newbuilding orders More Q-Max vessels are expected but other players are due to join the mix in 2024
Thenamaris shows who is boss in well above market value sale of supramax bulker Chinese owner reportedly pays around $2m above estimated market value for Seaboss
Singapore set to showcase 'flying' hybrid marine transportation technology City-state to play host to domestically designed Wing-in-Ground effect craft and Swedish hydrofoiling electric ferry
Singapore's first-movers making electric vessel dream a reality Penguin and Pyxis power ahead with global dreams in Singapore
DOT launches mapping project to guide government spending on freight The government's long-awaited National Multimodal Freight Network has finally kicked off with a two-month request for information to help map out facilities and routes.
Cargo airline sends new Boeing 767 freighters directly to storage It's not a great return on investment to acquire an aircraft and immediately ground it because demand is soft. But that's what Saltchuk Aviation and its Alaska-based subsidiary Northern Air Cargo have done.
Tips for navigating the coming capacity correction We may be months away from a national market shift, but the time to start planning for it is now.
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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