VIDEO: Silver Ships delivers USACE survey catamaran Theodore, Ala.-headquartered Silver Ships has completed the construction and delivery of a 35-foot hydrographic survey catamaran to the U.S. Army Corps of Engineers (USACE) Detroit District. The advanced vessel is specifically designed
Incat Crowther to design new all-electric cargo transfer vessel Singapore's marinEV, a business of Yinson GreenTech, has commissioned Incat Crowther to design an ultra-efficient, all-electric light cargo transfer vessel. The vessel, Hydromover 2.0, will transport light cargo such as stores, food
Port of Duqm as Oman's strategic pivot in global trade amid regional tensions Amid significant changes in the global logistics landscape driven by geopolitical shifts, emerging trade hubs like the Port of Duqm are stepping up to fill potential gaps in influence. These developments position such hubs as crucial nodes in the evolving network of global trade.
EY's report highlights ASEAN's strategic trade position and investment initiatives EY's Geostrategic Report highlights that the 44th and 45th ASEAN Summits, which involved discussions with China, resulted in an enhancement of the ASEAN-China Free Trade Area.
Maersk opens first warehouse in France With the commencement of operations at its new warehouse in Denain, Northern France, Maersk is now providing fulfillment services for a leading global e-commerce company. Strategically located within one of Europe's key logistics hubs, this marks Maersk's first warehouse in France. The 75,000 m² facility, part of the 100,000 m² GLP Park Denain complex, is fully operational. Positioned near Lille
Liebherr secures first US West Coast STS crane contract Liebherr Container Cranes announced its first-ever contract to deliver ship-to-shore (STS) container cranes to the West Coast of the United States. TraPac Oakland, a container terminal operator in California, has awarded Liebherr a contract for two cutting-edge STS cranes. Although Liebherr has previously supplied STS cranes to ports along the US East Coast, this marks the company's debut on the
DB Schenker adds Volvo FM Electric trucks to its fleet By adding 40 Volvo FM Electric trucks to its German fleet, DB Schenker is advancing its commitment to a sustainable future in the logistics sector. These 20-ton electric trucks, equipped for trailer operations, are well-suited for both urban and regional transport. Starting in December 2024, the new vehicles will be deployed across Germany. In its pursuit of sustainable logistics, DB Schenker con
Maersk vessel in convoy attacked by Houthis twice in 10 days Another one of Maersk Line's US-flagged ships has been targeted by Houthis. The 2004-built 2,500 TEU Maersk Saratoga was escorted by US warships out of Djibouti when the Houthis struck, 10 days after another assault in the vicinity. Houthi spokesman Yahya Saree disclosed that two "American" destroyers and three "American" supply ships were targeted in the Gulf of Aden. Vessel-tracking data from S
Adriatic Gate Container Terminal installs alarm system to reduce noise pollution Adriatic Gate Container Terminal (AGCT) has installed white noise reversing alarms on two of its rail-mounted gantry cranes (RMGs). The cranes, selected for their proximity to residential areas, now feature an advanced alarm system that reduces noise pollution. White noise reversing alarms emit a softer, more localized sound resembling a gentle hiss rather than the high-pitched beeps of tradition
Dutch seaports unite to launch national cybersecurity platform Digital threats pose an increasing risk to nautical and logistical operations in Dutch seaports. To address these cyber risks, the Seaports Trade Organisation (Brancheorganisatie Zeehavens, BOZ), the Ministry of Infrastructure and Water Management, and the National Coordinator for Counterterrorism and Security (NCTV) have collaboratively developed the Cyber Strategy for Dutch Seaports. As part of
Syria's shipping profile: Navigating sanctions and seeking growth Amid significant geopolitical shifts in the Middle East, Syria's shipping profile will soon become a key concern for global shipping stakeholders due to the importance of its two Mediterranean ports.
Asia-Europe ocean rates continue to climb on early LNY rush Ocean rates from Asia to Europe and the Mediterranean increased last week, with prices of US$5,300/FEU to Europe approaching levels in the lead-up to the last Lunar New Year (LNY) back in January. Rates may already be increasing on pre-Lunar New Year demand as Asia-Europe/Mediterranean shippers need to ensure they move sufficient inventory out of Asia before the holiday slowdown or risk extended
Mainline operators still in five-year extraordinary profit cycle, thanks to Red Sea crisis Alphaliner's report says that 2024 is on track to be the third most lucrative year in container shipping history despite the higher costs borne by container carriers to divert tonnage around the Cape of Good Hope.
Hapag-Lloyd increases rates from Middle East & Indian Sub to North America German ocean carrier Hapag-Lloyd has announced that a General Rate Increase (GRI)/General Rate Adjustment (GRA) will be introduced for shipments from the Indian Subcontinent and Middle East to North America. This adjustment will apply to all containers gated in full on or after 15 January 2025 and will remain in effect until further notice. The GRI/GRA of US$1,000 per 20' or 40' unit will apply t
South Korea to invest nearly US$10 billion in Busan Port South Korea's government will invest 14 trillion won (around US$10 billion) in Busan Port upgrades through 2045, aiming to achieve the world's largest container handling capacity. Under the plan, South Korea will build a new port in Changwon, near Busan, integrating it with the existing Busan Port to create a unified "mega port" with double the current cargo handling capacity, according to South
AD Ports Group earns A1 credit rating from Moody's Global credit rating agency Moody's has assigned AD Ports Group an initial A1 credit rating with a stable outlook. This rating highlights the Group's strong financial performance and solid growth prospects. The A1 long-term issuer rating reflects AD Ports Group's Baseline Credit Assessment (BCA) of Baa2 and underscores its strategic importance, bolstered by the Government of Abu Dhabi's majority
Next Geosolutions expands fleet with MPSV acquisition Marine geoscience and offshore construction support player Next Geosolutions (NextGeo) is expanding its fleet with the acquisition of a multipurpose survey vessel (MPSV) from Norway's Beitveit Holding. The Milan-listed company, part of Naples-based shipping group Marnavi, is paying €6.75m ($7.1m) for the 2010-built Sea Admiral, which will be renamed NG Explorer and used for geophysical, ...
SLB lands contract for all Petrobras' offshore fields in Brazil Houston-based oilfield service giant SLB has won a contract from Petrobras for integrated services across all the operator's offshore fields in Brazil. Under the contract, estimated at about $800m, SLB will oversee the construction of more than 100 deepwater wells, utilising advanced drilling, cementing and drilling fluids technologies on up to nine ultra-deepwater rigs. The ...
Odfjell snaps up four leased tankers Norway's Odfjell is boosting its owned fleet through a purchase option on four vessels it currently has on long-term lease deals. The move will see the Oslo-listed chemical tanker owner and operator add a total of seven 35,000 dwt to 41,000 dwt stainless-steel super-segregator vessels in the next 14 months, after taking advantage of three ...
MOL orders ammonia dual-fuel newcastlemaxes Mitsui OSK Lines (MOL) has beefed up its orderbook with a new deal for newcastlemax bulk carriers in China. Newbuilding brokers say the Japanese shipping giant has contracted four 210,000 dwt units at leading newcastlemax builder CSSC Qingdao Beihai Shipbuilding for delivery in 2027 and 2028. MOL had ordered three bulkers of similar tonnage at ...
Dynacom linked to more suezmax orders Greece's Dynacom Tankers has been tied to another deal for suezmax newbuilds, but this time in China. Brokers in Greece report George Procopiou's company has signed a letter of intent for four 163,000 dwt ships at Chinese state-run Qingdao Beihai Shipbuilding. The quartet is priced at about $328m, with estimated deliveries between 2027 and 2028. ...
TECO 2030 files for bankruptcy One of Europe's more high-profile marine fuel cell developers has filed for bankruptcy. Norway's TECO 2030 made the announcement last night, saying it was no longer possible to raise sufficient capital to continue operations at the five-year-old company. Europe has found itself struggling this year to remain competitive when it comes to fuel cell technology ...
Ørsted sells half of its stake in Taiwanese offshore wind farm for $1.6bn Danish offshore wind developer Ørsted has agreed to sell a 50% stake in its Greater Changhua 4 offshore wind farm to Taiwan's Cathay Life Insurance for DKK 11.6bn ($1.64bn). The deal has been in the works for over a year since Ørsted selected Cathay Life Insurance as the preferred bidder for half of its stake in ...
COSCO and MOL link up for QatarEnergy supersize LNG carriers COSCO Shipping Energy Transportation (CSET), the oil and gas shipping unit of COSCO Shipping Group, and Japan's Mitsui OSK Lines (MOL) are teaming up for six supersize gas carrier newbuilds that will serve Middle Eastern liquefied natural gas (LNG) producer QatarEnergy. The Chinese state-owned shipping giant will acquire a 50% stake through one of its ...
Evergreen and PIL join growing throng of liners opting for windshields Nose jobs are this year's must-have among cash-rich liners. Evergreen and Pacific International Lines (PIL) are the latest two carriers to add windshields to the prows of containerships under construction in Asia with Alphaliner carrying images of the new ships sporting their fuel-saving devices. Ocean Network Express (ONE) and CMA CGM were the first liners ...
MSC takes orderbook above 2m teu with Hengli megamax orders Alphaliner is reporting another big order from the world's largest containerline, taking the orderbook at Mediterranean Shipping Co (MSC) past the 2m teu mark. MSC has tapped one of its new favourite yards, Hengli Heavy Industry, formerly known as STX Dalian, for ten 24,000 teu megamaxes in a deal estimated to cost somewhere in the ...
RWE, TotalEnergies pick construction base for Dutch offshore wind farm German utility RWE and French energy major TotalEnergies have selected the port of Eemshaven in the northern Dutch province of Groningen as the base for turbine assembly and construction work for the OranjeWind offshore wind project in the Dutch North Sea. To this end, the OranjeWind joint venture has signed an agreement with Buss Terminal ...
Shell and Greenpeace settle lawsuit over FPSO boarding incident Supermajor Shell has settled its multimillion-dollar lawsuit against environmental group Greenpeace for boarding an oil rig early last year during one of the group's protests. Shell initially sued Greenpeace for $2.1m in damages but, according to the environmentalist group, demanded only $1m in damages and planned to spend another $10m in legal fees, which Greenpeace ...
Busan port set for massive expansion to double handling capacity South Korea's largest port is set for huge expansion, taking over quayside at a nearby city. South Korea's oceans ministry unveiled plans today to invest KRW14trn ($9.75bn) through 2045 to upgrade Busan port. South Korea will construct a new port in Changwon, 25 km west of downtown Busan, integrating it with the existing Busan port ...
Adani eschews US loans for Colombo port project Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) Limited has withdrawn from a $553m loan pact with the US International Development Finance Corporation (DFC) to develop a port terminal in Sri Lanka's capital Colombo. APSEZ said it will finance the project through its internal accruals and capital management plan. Last month Adani, alongside seven ...
Armed pirates board tanker off Indonesia A Singapore-flagged tanker was boarded by two individuals yesterday while transiting eastbound through the Phillip Channel of Singapore Strait, just northwest of Kapalajernih Island, Indonesia. The suspects were armed with bladed weapons. During the incident, the vessel was underway at 8.5 knots, with an estimated freeboard of 8.7 m. No casualties or damage to the ...
Your guide to everything you need to know about FuelEU Maritime Splash Extra leads today with the ultimate primer for what to expect from the January 1 introduction of FuelEU Maritime, arguably the most stringent new regional shipping legislation in more than a generation. Readers can learn about how the legislation works, the potential fines, and the options owners face to comply with the environmental ruling. ...
Shipping braces for the FuelEU Maritime era In three weeks shipping will have to come to terms with the single largest slice of new regional legislation for more than a generation. FuelEU Maritime launches January 1 with experts warning the penalties the European Union could dish out could send some companies bankrupt. The rules mandate stringent greenhouse gas (GHG) emission intensity requirements ...
How to solve the work/rest issue at sea Bravo to Bikram Bhatia for painting in black and white one of shipping's worst kept secrets - overworked men and women at sea. It's well known that shipping tends to fudge its reporting of work and rest hours at sea, but Bhatia, for his PhD dissertation, has spent the last three years assembling so much ...
December 2024 Review Changes are afoot in the Iranian-linked VLCC fleet with less than six weeks until Donald Trump is sworn in as the 47th president of the US. The US imposed further sanctions aimed at Iran's tanker fleet this month, while China has started to ease imports of Iranian oil. Moreover, two shadow fleet VLCCs are being ...
2024 Annual Review The Red Sea shipping crisis dominated headlines throughout the year. The Houthis displayed greater sophistication in their attacks on merchant shipping, and have now targeted more than 120 ships, forcing a giant swathe of the global merchant fleet to reroute via the Cape of Good Hope. With no resolution on the near three-year war between ...
Tankers in 2024: the good, the bad and the ugly The Baltic Dirty Tanker Index averaged 1,395 points in 2022, then 1,150 points in 2023 and by December 4, 2024, it had averaged 1,105 point for the year to date. Where was the much vaunted supercycle that 2022 was supposed to herald? The last three years of the crude oil tanker freight market have been ...
Dry cargo in 2024: China, China and China In the bulk carrier freight markets, the ugly situation in the Red Sea turned out to be good for capesize tonne-miles and earnings in the early part of the year as brokers reported more than 60 capesizes diverting from the Suez route via the Cape of Good Hope in January alone. This had the lucky ...
Liners in 2024: Houthis, tariffs, and upside surprises When the liner company executives put out their forward looking statements for 2024, they used phrases like "a new normal" or "challenging circumstances". With an orderbook in excess of 24% of the fleet on January 1 and rising, it looked like 2024 would be a year in which the pandemic boom would become a bust. ...
Analyst Abstract Dry Bulk Capesizes normally enjoy the December festive season. Not this year where rates have collapsed to levels barely above operating expenses, a damp squib ending to what has otherwise been a profitable 2024. "The anticipated strong finish to the year now feels like a distant memory," stated Breakwave Advisors, going on to predict that ...
The mismatch between an underwhelming freight market and high prices With the exception of the still bullish container sector, the sale and purchase markets have quietened down in the opening 11 days of December. "It feels like people are limbering up for hols and buyers will wait for pricing to come down and sellers don't want to sell into a flat market," says one Asia-based ...
Can India reach its ambitious shipbuilding targets? For one of the largest countries by area and the most populous country in the world, India's ambitious shipbuilding targets should come as no surprise. However, the steep path it has to climb to reach these lofty goals should not be underestimated. India is currently outside the top 15 with a market share of only ...
Signal re-enters product tanker fray in venture with chartering veteran After initial plan to build a 'robust' product tanker fleet, the partners are also eyeing pooling in new and untapped...
Fuel cell maker Teco 2030 files for bankruptcy Norwegian hydrogen fuel cell maker Teco 2030 has filed for bankruptcy amid flagging demand and government support
Baltic Exchange launches free FuelEU calculator The Baltic Exchange has added a FuelEU tool to its free cost calculator so owners and operators can see what...
RightShip revises timing for younger vessel inspections after industry pushback Dry bulk vessels are seriously lagging behind other sectors on safety metrics and are 10 times more likely to be...
How much do S&P downgrades matter to marine mutuals? In short, it smarts
US senators tell Treasury to ratchet up Iran sanctions Ofac's actions in October and December targeting Iran's petroleum sector were 'encouraging steps', but the Treasury Department must continue to...
US Navy repels second Houthi attack on merchant convoy Two US destroyers engaged and destroyed multiple drones and an anti-ship cruise missile aimed at three US-flagged vessels
Britannia P&I club downgraded by S&P International Group affiliate said to 'lag behind peers' on underwriting performance
MSC returns to Hengli Heavy for 10 more LNG dual-fuel boxships Order is understood to not yet be finalised as refund guarantees from banks have not been obtained
Busan to undergo $10bn transformation into 'megaport' South Korea's Ministry of Oceans and Fisheries said regional conflicts and growing protectionism were both 'a crisis and an opportunity'...
Adani withdraws US funding request for Colombo terminal Chairman Gautam Adani was charged with conspiracies to commit securities and wire fraud in the US last month, after an...
MSC buys up more secondhand boxships as demand for capacity remains high Recent containership sale and purchase activity included a pair of 4,500 teu units purchased by a German tonnage provider, while...
What Assad's downfall means for the Red Sea shipping crisis Nervous container freight futures investors have sensed ominous signs drawing closer. Security experts agree that Syria is another big blow...
The Daily View: First signs of greater transparency Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
Daily Briefing Transpacific spot rates hit by combo of lower US imports and higher vessel supply | Barbados will keep Qualship 21...
Busan to target shipping alliances with new $10 billion port to boost competitiveness The proposed facility, at Jinhae about 25 miles west of downtown Busan, would have nine berths in its first phase capable of handling more than 6 million TEUs annually by 2032.
New terminal sales by Yellow raising stakes for US LTL carriers The direct sale of 12 terminals to Estes and R+L Carriers accelerates repositioning among the largest LTL carriers ahead of an anticipated increase in demand in 2025.
India averts port worker strike with wage deal ratification A consortium of six national labor groups, representing thousands of dockworkers in the country, was to launch an indefinite industrial action from Dec. 17 without the deal.
New Maersk warehouse in France expands European e-commerce coverage The facility's launch customer is known to be Amazon, which will use the strategically located warehouse to provide fulfilment services across the region.
Ammonia engine delays prompt Eastern Pacific to switch dual-fuel newcastlemax bulkers to LNG Shipowner takes 'precautionary move' on half of a series of bulkers on order due to problems with development of engines
TUI touts 'very strong performance' as cruise earnings surge Dividends from TUI Cruises expected to return to pre-pandemic levels next year
Rio Tinto fixtures pull Australia-to-China capesize rates to lowest level in nearly 22 months Average rates hit three-month low and futures lose further ground
Polembros chief executive George Vakirtzis to step down as next Polemis generation takes charge Veteran manager passes the torch after 40 years of service at traditional Greek owner
Baltic Exchange aims to become FuelEU cost benchmark with free emissions tool London exchange argues the sector needs a trusted voice to help owners calculate expenses
RightShip bows to industry criticism and redraws inspection age plans Date changes follow consultation with industry bodies worried about impact on owners as rush of 13-year-old vessels come of age
Odfjell goes Christmas shopping with seven tankers and fresh financing Bergen chemical tanker owner trumpets 30% discount on five vessels
'Different times are coming': Signal Maritime starts new pool venture with ex-Petroineos head of shipping Hi-tech pool player partners with experienced chartering manager Giacomo Calamari to revive its product tanker plans
Half of ships struggling for grades in new carbon intensity ratings, says Clarksons Data shows increased interest in energy-saving technology as fleet age grows
Hydrogen fuel cell pioneer Teco 2030 files for bankruptcy as money runs out Board of Norwegian company decided there was no chance of raising further cash to continue operations
Shipowners not investing enough in cleantech to avoid poor energy efficiency ratings, says Clarksons Clarksons cleantech data shows increased interest in energy-saving technology as fleet age grows
German owner D Oltmann swells container ship fleet to 14 ships with $100m double buy Seller Kmarin offloads its last container ships and South Korean owner bows out of the sector
Gianluigi Aponte extends huge MSC orderbook with 10 ultra-large container ship newbuildings Market leader has penned 10 LNG dual-fuelled vessels at Hengli Heavy
Car carrier term rates crash 40% as fundamentals shift, Clarksons says Researcher David Whittaker explains why owners won't be making quite as much money as previously
Crewman stabbed multiple times as armed men storm tanker near major sea route Singapore-flagged vessel boarded off Indonesia
One of the oldest working aframaxes heads for the torch in rare tanker scrapping Emirates-owned ship was nearing its 30th birthday
Schoeller cashes in with sale of container ship brace to MSC Swiss liner giant bags Wenchong vessels, while Chinese buyers snap up older ones
The long slog: US sanctions appeals drag for more than a year as Washington ramps up blacklistings Getting off a sanction list may take over a year, even in a case of mistaken identity, lawyer says
James Gundy's Braemar stake hits £2.5m after conversion of share options Chief executive was awarded stock as a performance incentive in 2018 and 2019
Norden's Chilean office quits to join rival Enesel Bulk Logistics Fast-growing bulker operating platform has a new base from which to target west coast South America trade
MOL-Cosco tie-up confirmed as owner of latest QatarEnergy QC-Max LNG newbuildings Partners' haul for Middle East producer bumped up to 13 ships
Grieg Group veteran Wenche Kjolas steps down after nearly two decades Former CEO exiting Norwegian group to end 'incredible journey'
DNV gives Norwegian firm approval for its liquid hydrogen tanks DNV will continue to work with CryoVac on longhaul liquid hydrogen carrier
Firefighters tackle blaze on brand new bulker after cargo ignites Firefighters tackling scrap metal blaze on Lubeca Marine vessel
Houthis launch second missile strike in 10 days on US shipping convoy Vessels were targeted in a much bigger attack as they approached Djibouti on 1 December
Taylor Maritime shareholders pocket ship sales cash as Edward Buttery eyes 'new phase' Owner has offloaded 27 vessels since taking over Grindrod Shipping
Gibson Shipbrokers targets teamwork, talent and transparency as it transforms Chief of new-look, employee-owned brokerage Roger Harrison has had a busy first two years at the helm
Some old-school relationships underlie prospects for a new Pangaea Logistics Lawyers and bankers came in last, but two New England shipowners are still waiting for regulators
Dongguan Haichang expands fleet with sixth bulker buy of this year Latest panamax purchase caps flurry of S&P activity
Moundreas-controlled bulker arrested in Singapore by Chinese charterer Charter party dispute behind claim filed against the Porthos
The long slog: US sanctions appeals drag for more than a year as Washington ramps up blacklistings Getting off a sanction list may take over a year, even in a case of mistaken identity, lawyer says
Freightos sees trans-Pacific container rates ease Rates on Asia-U.S. West Coast and Asia-U.S. East Coast container transport fell for the latest week tracked by Freightos but rose by double digits for Asia-Europe/Mediterranean traffic.
Jaxport adding more global container services in 2025 The Port of Jacksonville is taking on a larger role in 2025 as ocean container lines add the north Florida hub to their global services.
DHL Express' Miami air hub meets the moment for peak season FreightWaves got an inside look at DHL Express' big parcel center at Miami International Airport as the global logistics integrator prepared for the holiday shipping season, when volumes are 40% to 50% higher each day than the rest of the year.
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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