Francine impacts U.S. GoM oil and gas production As communities along the Louisiana coast brace for the expected impact of Hurricane Francine, the storm has already impacted U.S. Gulf of Mexico offshore oil and gas operations, with production shut-ins and
VIDEO: Candela electric foiling boat makes record breaking Baltic crossing In another breakthrough for electric foiling vessels, a Swedish team from Candela last week set a world record by driving a hydrofoiling Candela C-8 between Stockholm, Sweden, and the Finnish autonomous region
US container ports anticipate busy September According to the Global Port Tracker report from the National Retail Federation (NRF) and Hackett Associates, US major container ports are anticipated to experience another busy month in September, with a potential labour strike at East Coast and Gulf Coast ports looming. In July, the US ports tracked by Global Port Tracker handled 2.32 million TEUs, marking an 8.1% increase from June and a 21% r
NWSA handles largest boxship at Tacoma Harbor The 16,592 TEU container vessel Maersk Alette arrived at Husky Terminal in Tacoma on 4 September, becoming the largest vessel to call the Northwest Seaport Alliance's (NWSA's) South Harbor. The boxship is also the first dual-fuel vessel capable of sailing on green methanol to have called the gateway. Kristin Ang, Port of Tacoma Commission President and Co-Chair of NWSA, said, "We offer our congra
Chinese seaborne dry bulk imports up 6% despite economic challenges So far in 2024, China has increased its inventories of iron ore, coal and grains, which has been a positive demand driver. Iron ore inventories in Chinese ports have seen a notable jump from 122 million tonnes at the start of the year to 154 million tonnes on 5 September. Coal inventories have increased to improve energy security and compensate for weaker mining, while low soya bean prices have e
AD Ports invests US$114 million in new cranes at Congo and Angola terminals AD Ports Group has awarded contracts exceeding US$114 million to Shanghai Zhenhua Heavy Industries (ZPMC) for the supply of six ship-to-shore (STS) cranes and 17 hybrid rubber-tyred gantry (RTG) cranes. These cranes will be deployed at AD Ports Group's terminal projects at the New East Mole Terminal in Pointe Noire, Republic of the Congo, and Noatum Ports' Luanda Terminal in Angola. "We are pleas
Maritime security threats in Red Sea and Gulf of Guinea The maritime security landscape in the Red Sea and Gulf of Guinea (GoG) is marked by escalating threats and vulnerabilities. Recent Houthi attacks in the Red Sea have underscored the growing risks posed by relatively inexpensive and hard-to-detect drones. These drones, alongside anti-ship missiles and loitering munitions, have become central to Houthi tactics, targeting commercial vessels navigat
First electric boat successfully crosses Baltic Sea A group of Swedes set a world record by driving a hydrofoiling Candela C-8 between Stockholm and the Finnish autonomous region of Åland, marking the first time an electric boat has crossed the Baltic Sea and made the journey between the two countries. They even returned the same day - at 95% lower costs than a fossil-fuel-powered boat. "The aim was to demonstrate that zero-emission sea travel is
US Presidential Debate: Trump's tariffs to cause rate spike - with consumers picking up the cost Donald Trump's proposed import tariffs would see the cost of shipping goods by ocean increase in a repeat of the market spike seen during his first term as US President. Trump defended his trade policy during last night's Presidential Debate, which includes blanket tariffs of up to 20% on all imports and additional tariffs of 60% to 100% on goods from China. However, data released by Xeneta - the
Guardians of the Seas: Drones and Unmanned Vehicles Safeguarding Container Vessels As global instability and hostile threats intensify, the need for enhanced protection in shipping trade has become critical. Emerging technologies, such as autonomous systems and advanced surveillance, are set to play a pivotal role in safeguarding vessels, ensuring safe passage through increasingly dangerous waters. We tasked an Artificial Intelligence (AI) system to generate an image of a conta
APM Terminals CEO calls for port revitalization to support renewable energy growth At a panel discussion organized by the World Economic Forum in Gothenburg, Sweden, APM Terminals CEO Keith Svendsen emphasized the urgent need to revitalize port ecosystems to support greater adoption of renewable energy. He highlighted APM Terminals' current achievement of operating on 40% renewable energy and reaffirmed the company's ambitious goal of reaching 100% by 2030, positioning it as a
Safetrans ship set to be largest to cross Northern Sea Route Safetrans Line-owned Panamax vessel Flying Fish 1 is set to become the largest container ship to traverse the Baltic-China Northern Sea Route (NSR), when the 4,890 TEU ship arrives in China at the end of the month. The ship beats the previous record set by Yangpu Newnew Shipping's 3,534 TEU NewNew Star earlier this month. Safetrans received approval to operate Baltic-NSR services early this year.
ICTSI to build new box terminal in the Philippines International Container Terminal Services, Inc. (ICTSI) is advancing environmental sustainability with its new terminal project in Bauan, Batangas, Philippines. Scheduled for completion by 2028, the Luzon International Container Terminal (LICT) will be the largest privately funded marine terminal investment in the country and the second largest container facility in the Philippines, after the Man
Vizhinjam port challenges Colombo's dominance in Indian Ocean transshipment market As reported by Container News , India's new container transshipment hub at Vizhinjam is progressing rapidly, with Mediterranean Shipping Co. (MSC) emerging as a likely long-term customer. Thanks to its strategic location and deep draft, Vizhinjam is anticipated to challenge Sri Lanka's Colombo Port for a share of the region's transshipment volumes. Container News has conducted an in-depth analysi
Container market braces for ILA strike on US East Coast Ocean spot rates from Asia to North Europe and the Mediterranean decreased further last week. Prices are now more than 20% below their highs reached in July, and likely mark the early close to a peak season that started early too. Red Sea diversion-driven longer transit times and delays at Asian origin ports motivated shippers to start ordering early, and import volumes from Asia likely peaked in
Kalmar equips DP World Southampton with hybrid straddle carriers Kalmar has finalized an agreement with long-standing customer DP World Southampton to supply an additional 14 hybrid straddle carriers for the British container terminal. This order was recorded in Kalmar's Q2 2024 order intake, with delivery expected in the second quarter of 2025. DP World Southampton, located on the south coast of the United Kingdom, is a key port for many of the world's leadin
Kongsberg Discovery selects new Manager for North America Sandeep Sandhu was appointed as General Manager for Kongsberg Discovery Canada in August 2024. In his new role, he oversees Kongsberg Discovery's operations in both Canada and the United States. Sandeep Sandhu was appointed as the interim general manager of KUTL, now known as Kongsberg Discovery US, LLC, in July this year. The main office is located in Lynnwood, Seattle, and houses approximately
Girteka expands sustainable logistics with intermodal rail network integration Girteka, traditionally a road transport company with a fleet exceeding 6,000 trucks and 7,000 trailers, has made intermodal rail services a key part of its business strategy. These services offer an eco-friendly and efficient alternative for long-distance full truckload (FTL) deliveries, aligning with the company's sustainability and efficiency objectives. Intermodal rail transport is one of the
Maersk Tankers set to launch chemical tanker pool Denmark's Maersk Tankers has revealed that it would be starting up a new chemical tanker pool from the beginning of next month. Maersk Tankers said in a social media post that the new pool, named Maersk Tankers Chemicals, would launch on October 1. "Supported by existing partners and drawing on our extensive experience and expertise with ...
Japanese firms to develop next-gen vertical-axis floating wind turbines A consortium of Japanese firms has been selected to conduct a feasibility study on large-scale floating vertical-axis wind turbines. The consortium, consisting of Albatross Technology, Electric Power Development, Tokyo Electric Power Company, K-Line, and Sumitomo, will undertake the study as part of the New Energy and Industrial Technology Development Organization's public call for projects to ...
Tech developed to save crew overboard A tragic 40% of all man-overboard incidents from merchant ships results in fatality, with more than 1,000 people falling overboard annually, according to studies carried by the UK's Marine Accident Investigation Branch (MAIB). Analysis shows that crew have, on average, under 11 minutes to recover a crewmate who has fallen overboard into cold water before ...
Projects looking for second chance in New York's next offshore wind solicitation After the New York State Energy Research and Development Authority (NYSERDA) cancelled three projects from its third solicitation round in April, two were submitted again for the state's fifth offshore wind solicitation. In October 2023, NYSERDA provisionally awarded three offshore wind projects - Attentive Energy One, Community Offshore Wind, and Excelsior Wind. The authority also ...
OFAC adds more ships to sanctions list The US Treasury's Office of Foreign Assets Control (OFAC) has added nine more ships to its extensive shipping sanctions list. The vessels in question are accused of shipping weapons from Iran to Russia. The ships - all Russian-flagged - are the Boris Kustodiev, Port Olya-3, Port Olya-4, Kompozitor Rakhmaninov, Omskiy-103, Omskiy-119, Vafa, Vafa-1 and Zakamsk. ...
OKEA taps Archer for platform drilling services in Norway Norwegian offshore service provider Archer has won a platform drilling contract with compatriot oil and gas company OKEA. The new contract has an initial estimated value of NOK 850m ($78.6m) over a firm five-year period and includes an additional two-year optional period. Archer will provide comprehensive platform drilling services, including workover and drilling operations, well ...
Transocean clinches $232m drillship deal with BP Swiss-based offshore drilling giant Transocean has won a 365-day contract for one of its ultra-deepwater drillships. The contract was awarded by energy major BP to the 2022-built Deepwater Atlas which will work in the US Gulf of Mexico. The contract also includes a 365-day option. The program is expected to begin in the second quarter ...
What keeps shipowners up at night? The latest ICS Barometer Report published by the International Chamber of Shipping would suggest geopolitical instability and cyber attacks are acute worry points for shipping (see chart below). The survey of over 100 global maritime industry leaders over a three-year period analyses year-on-year shifts in sentiment on pivotal issues ...
Maritime artificial intelligence market nearly triples in size over past year New research by British consultancy Thetius estimates that the maritime artificial intelligence (AI) market has nearly tripled in size in the space of just one year and is now valued at $4.13bn, with a projected five-year compound annual growth rate of 23%. The 29-page report, commissioned by Lloyd's Register, highlights six critical areas of AI ...
Arkas signs for two more 4,300 teu ships in China Turkey's Arkas Line has extended its series of boxship orders in China. Alphaliner is reporting the liner operator has signed for two more 4,300 teu ships at Guangzhou Wenchong Shipyard, taking its tally of this newbuild type to six at the southern Chinese yard. The latest pair will deliver in 2027. No price has been ...
South African authorities battle oil spill from MSC ship South African authorities suspect the 22-year-old, 6,492 teu MSC Apollo containership was responsible for an oil spill at Algoa Bay on Saturday afternoon. Bad weather in the intervening days has made investigations and clean-up operations difficult with the South African Maritime Safety Authority (SAMSA) unable to specify the scale of the spill. Efforts are underway ...
What is not acceptable onboard Steven Jones, founder of the Seafarers Happiness Index, seeks solutions to the latest shocking data about life at sea. The recent announcement that the Poseidon Principles are set to expand their remit has been greeted with cautious optimism. There will likely have been many nodding to the concept of banks looking beyond carbon concerns to ...
Panama Canal bounces back, buoyed by boxships, VLGCs and bulkers Now that reservation slots and draught levels are back to normal, the Panama Canal is wooing back ship traffic. More...
US sanctions two LPG carriers as it targets Hezbollah-linked network The US continued to target shipping operations related to terrorist financing Wednesday with designations that included two small LPG carriers...
TEN hikes dividend amid 'encouraging signs' for long-term business TEN has exercised two purchase options for a pair of previously leased suezmax tankers
Hanwha Ocean worker death raises safety concerns This year, four subcontractors have died at the Geoje shipyard. Korea Metal Workers' Union claimed that inadequate safety measures and...
UK sanctions 10 'shadow fleet' tankers shipping Russian oil The UK has announced its third round of shipping sanctions, targeting 10 tankers it says are part of Russia's 'shadow...
Shanghai container freight futures rebound amid shaky optimism Investor sentiment improved as quotes from key carriers this week show signs of freight rates stabilising, but the drop in...
MSC boxship could be cause of oil leak, South African authorities say MSC Apollo has been anchored in Algoa Bay since September 5 after a voyage from Singapore to Durban and was...
China-affiliated ships running Red Sea gauntlet more frequently Growing confidence in the safety of China-owned ships is encouraging some shipowners to undertake Red Sea voyages and others to...
Bunker firm owner launches tanker company The new company has a fleet of 44 vessels mostly comprising of smaller tankers and bunker barges, as ships previously...
The dark fleet is good for mainstream tanker markets, say owners Tanker owners say they follow all relevant rules and hope the dark fleet will 'end up as razor blades'. But...
'Very limited' scope for Red Sea refusals despite Houthi onslaught, Norton Rose Fulbright argues Attacks on shipping have been going long enough for owners and charterers to know what they are getting into
Scrubber-fitted boxship fleet exceeds 40% for first time As the introduction of more scrubber-fitted newbuildings has surged since January there has been a significant improvement in the price spread...
Australian port worker strike 'imminent' Dockworkers in Brisbane, Melbourne and Port Kembla voted for industrial action, including overtime bans and slowdowns, as well as stoppages...
Updated: New Lloyd's Open Form default clause published Drafters hope to reverse declining use of standard salvage contract
LNG carriers' owners not concerned by growing orderbook Despite the high cost of newbuildings, owners are still making 'good money' from shipping LNG and voyages are only going...
Blueprint for Europe's economic overhaul reinforces need for shipping investment The pivotal role that Europe's shipping sector plays in supporting the bloc's energy, food and supply chain security has been...
Baltimore bridge collapse could push up marine reinsurance rates, S&P warns 'The P&I sector itself is very stable. The question we would have now - and maybe the market would have...
Sharp expansion seen in maritime AI market Data-driven, condition-based maintenance and port management were highlighted as being prime among six critical areas AI was being applied to...
Hutchison to offer shore power at two Rotterdam containership terminals Hutchison Ports ECT Rotterdam boxship terminal to be equipped with shore power to reduce Rotterdam's CO2 emissions by 35,000 tonnes...
The curious case of an Iran-linked gas carrier anchored off Houston In a rare occurrence, an Iran-linked VLGC newbuild has been anchored off Houston since June. Its operators say they received...
Ship recycling volumes remain muted but notable upturn in bulk carrier and tanker scrap sales Seven bulk carriers and three containerships were recycled in August, but no tankers have arrived at recycling beaches since May...
Daily Briefing Gemini carriers join MSC in offering Red Sea contingency plan | Operational challenges to linger for 'at least three months'...
Rates from India to US, Europe in rapid retreat amid cooling demand As supply-demand dynamics rapidly shift back to the shipper side, all general rate increases and peak season surcharges that have failed to take off since early August are now being pushed to October.
Anxious White House weighing options as ILA contract deadline nears As the threat of a US port strike approaches, the Biden Administration must walk a particularly precarious line: Don't upset union voters ahead of the presidential election while protecting the economy and an image of responsible economic stewardship.
'Perfect storm' pushes market toward Q4 reefer equipment shortages Seasonal demand for reefer containers on the north-south trade lane, combined with a surge in Brazilian beef exports, could lead to equipment scarcity by year's end, market watchers say.
'Brace for impact' warning as air cargo heads into historic peak season Eight straight months of double-digit volume growth in global air freight markets has kept freighters full and flying at peak utilization, and continued demand is expected to outstrip available capacity through Q4 and beyond.
Tsakos Energy Navigation shares jump by 7% as shipowner 'rewards shareholders for staying' New York-listed tanker and LNG carrier owner rules out buybacks as dividend hike fuels stock price jump
US targets Hezbollah by slapping sanctions on pair of LPG carriers Treasury labels vessels as assets of Lebanese militant group
November's US election unlikely to bring clarity on LNG permitting export pause Broker and consultant paints bleak picture on fallout from Biden's permitting stop on LNG projects
UK sanctions 10 Sovcomflot ships in new Russia crackdown Britain says three tankers have transported oil worth more than $5bn since Ukraine invasion
Guyana's star rises in tanker markets. It even has its own 'VLCC season' Typically suezmax-focused market is increasingly turning to larger vessels for part of the year
Initial cooldown cargo finally arrives at Golar LNG's Gimi FLNG unit LNG carrier moors alongside jetty at BP-led Mauritania and Senegal-based project
Nautilus International's Mark Dickinson elected president of UK Trade Unions Congress First general secretary of Nautilus International to assume position since 1958
Green Seas: A decarbonisation measure everyone (in container shipping) can agree on In this week's Green Seas newsletter, we want to know why liner operators are so aligned on one decarbonisation policy proposal
Vale buoys capesize outlook by adding 10m tonnes of iron ore to production guidance Iron ore miner now expects to produce up to 330m tonnes this year
Capesize rates remain resilient after hitting two-month high Tight supplies and limited new capacity keep rates firm
'Getting people to invest is one of the hardest tasks we have,' says Tufton chief Shipping mixed on whether now is the time to invest
Pareto's offshore vessel play keeps getting better as bank bullish on sector Norwegian investment bank's project finance team bought a ship for $19m last year and it's worth $30m today
Maersk and Hapag-Lloyd planning for different Red Sea scenarios Gemini partners plot two network options for February launch
Hercules Tanker Management chief John Bassadone confirms LNG bunker vessel order 'We are investing today to maintain decarbonisation momentum tomorrow,' Bassadone says
Pyxis Tankers wiping out convertible shares in 'healthy' tanker and bulker markets Boss Valentis says redemption will prevent dilution of shareholders' investment
Tsakos Energy Navigation hikes dividend after 10th consecutive profitable quarter Tanker owner triggers option to buy back vintage suezmax pair
Oaktree's Floatel gives up on $200m accommodation ship laid up for eight years Owner will now sell idle vessel due to prohibitive reactivation costs
Odfjell brings Achilles transparency network's fleet to over 1,500 ships Norwegian chemical tanker owner joins UK-run sustainability initiative
European container giants sound the alarm over impact of US ports strike Maersk warns of weeks of disruption even if strike lasts only a week
Trafigura extends notice terms to up to a year after trader departures Commodities giant has lost a number of staff to rival Mercuria in recent months
UK blacklists 10 Sovcomflot ships in new Russia crackdown Britain says three tankers have transported oil worth more than $5bn since Ukraine invasion
Maersk Tankers poised to roll out new chemical carrier pool No minimum commitment period and flexible redelivery terms for partners
New 2020 Bulkers director Lori Wheeler Naess handed share options Experienced financial expert replaces Kate Blankenship on board of Tor Olav Troim company
Shipping's 'good stories in high demand' as €60bn Nordic bond market tempts with high returns Pareto Securities sees 'record high activity' in 2024
Hammonia steps up MPP bet with order for up to eight ships in China German owner inks deal for four firm vessels, with options attached
Sanctions causing 'serious issues' for Russia, insists NATO official amid shipping doubts Long-time official says sanctions will cause Russian economy to falter
China Merchants tanker grounded twice despite 'foreseeable' flooding event Australian probe criticises port, pilot and maritime safety organisations
Castor Maritime moves further into boxships as S&P spree rolls on Cypriot owner snaps up 15-year-old feeder vessel for $16.5m
UK blacklists 10 ships in new crackdown on Russia-trading tankers Britain says three tankers have transported oil worth more than $5bn since Ukraine invasion
'Growth mode': Peninsula founder John Bassadone opens up on new tanker venture Two-vessel newbuilding order casts light on veteran's new shipowning platform Hercules Tankers
2020 Bulkers dividend dips as index-linked newcastlemax rates fall Tor Olav Troim-backed owner logs drop of $5,000 per day throughout August
Giant Cosco tanker company CSET goes for gas with debut LNG carrier order Board approves $509m deal for two new ships at Dalian Shipbuilding in China
International Seaways hands back $25m to investors in share deals US tanker owner's buyback programme still has $25m of headroom
Castor Maritime moves further into boxships as sale and purchase spree rolls on Cypriot owner snaps up 2009-built feeder vessel for $16.5m
Worker dies in nighttime fall at Hanwha Ocean's shipyard Four fatalities have been reported at Okpo facility in 2024
'Riskier than shipping': CMB.Tech and MSC launch 'the maritime dance festival of the year' Antwerp event will raise money for young people's charity
Shipping supercycle newbuilding peak could be hit by tech snarl-up, warns Martin Stopford Veteran market analyst says companies need to be ready to exploit the energy transition when it happens
Shipping stocks face a 'scary' market after 'four fantastic years', warns Pareto Securities Investment bank holds its 31st annual conference in Oslo
Shipping has left gates 'wide open' for cyber attacks A fragmented industry with legacy computer systems has made ships vulnerable, conference hears
Trafigura shifts an increasing number of crude tankers into the clean products market Trading giant's global head of wet freight says rate discrepancy makes cleaning up dirty tankers a lucrative move
CSSC's Chengxi Shipyard converting container ships into floating hospitals Shipbuilder claims a first for Chinese yard sector
Could East Coast port strike spread to West Coast? The International Longshoremen's Association has adopted a resolute stance in negotiations with East Coast port employers from Maine to Houston. There's speculation that sympathy work stoppages could spread to West Coast container gateways.
LAX to lease cargo facility to Alliance Ground International Airport services company Alliance Ground International had the winning bid for leasing a cargo terminal at Los Angeles International Airport.
ILA readiness to strike highest since 2012 Solidarity between the ILA and ILWU was on display the last time the ILA narrowly avoided a strike (and the ILWU did not).
Lufthansa Cargo invests more than $600M to overhaul Frankfurt hub Lufthansa is in the early stage of an expensive, multiyear renovation and expansion of its global cargo hub in Frankfurt, Germany.
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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