New AWO video: Safety is everything The American Waterways Operators has produced a new video highlighting the tugboat, towboat and barge industry's commitment to safety and its strong record as the safest mode of freight transportation. The two-minute
Union Maritime opts for WindWings on two newbuild LR tankers Two long range tankers under construction at Shanghai Waigaoqiao Shipbuilding (SWS) in China for London-headquartered tanker operator Union Maritime have joined the growing list of newbuildings being fitted with auxiliary wind propulsion.
Houthis target SeaLead containership Pinocchio The latest merchant vessel targeted by the Iran-backed Houthi terrorist groups is the Liberian-flagged containership Pinocchio, which according to the Equasis data base is operated by Singapore headquartered SeaLead Shipping Pte. According
USDOT: $500 million for port improvement projects The U.S. Department of Transportation's Maritime Administration (MARAD) has published a Notice of Funding Opportunity (NOFO) for $500 million in federal Fiscal Year 2024 funding through MARAD's Port Infrastructure Development Program (PIDP).
Cosco Shipping fits its first Iridium GMDSS terminal The 5,000 vehicle capacity PCTC Cosco Tengfei has become the first vessel in the Cosco Shipping (CSSC) fleet to be fitted with an Iridium Global Maritime Distress and Safety System (GMDSS) terminal.
St. Paul District reopens locks and dams after winter maintenance The St. Paul Engineer District will reopen several locks and dams this month that were closed for winter maintenance. Lock and Dam 2 in Hastings, Minn., which was dewatered for inspection and
Podcast: Designing a Canadian polar icebreaker In this edition of Marine Log's Listen Up! podcast, we talk to Rami Hirsimäki, Senior Vice President, Marine and Offshore Energy at Elomatic, on the Canadian polar icebreaker project. Elomatic is a
Ocean rates continue to ease post-Lunar New Year: Freightos analysis Hostilities in the Red Sea intensified last week, and included the first seafarer casualties . But with most container traffic already avoiding the Suez Canal, demand easing as the market enters its slow season, and operations settling into a new routine, rates continued to ease across the major trade lanes. Asia - North America ocean rates are down 10% from their peak, with Asia - North Europe p
SAAM achieves historic annual net income exceeding US$500 million SAAM, a world-class towage provider, achieved its highest-ever net income of US$501 million in 2023, primarily attributed to the sale of its port and logistics assets to Hapag-Lloyd. This transaction resulted in a net gain of US$422 million. Total sales for the year amounted to US$540 million, marking a 17% increase compared to the previous year. Additionally, the company's earnings before intere
Portwise launches automation consulting business line Portwise, a renowned consultancy and simulation firm specializing in logistics solutions for ports, terminals, and warehouses, announced the launch of its automation consulting business line. The new business line aims to aid terminal operators in transforming design ideas into seamlessly operational and highly efficient automated terminals. This strategic expansion of Portwise's services undersc
sennder appoints new chief financial officer One of the major digital road freight forwarders in Europe, sennder, has selected Susanne Schroeter-Crossan as the company's new chief financial officer (CFO). With a wealth of experience, Schroeter-Crossan will now spearhead sennder's financial department. She will replace Amir Avraham, who has developed the finance department over the past five years. Susanne Schroeter-Crossan, Chief Financial
Bangladeshi ship hijacked by Somalian pirates A Bangladesh flag carrier ship was hijacked by Somalian pirates in the Indian Ocean on 12 March, according to the owner of the vessel, Bangladeshi Kabir Steel and Rerolling Mill (KSRM) Group. There were 23 crew members on the bulk carrier, namely Abdullah, formerly Golden Hawk, at the time of the pirate attack, who were held hostage onboard. The ship owner learned about the development on Tuesday
SCA introduces new Suez Canal mooring regulations and costs The Suez Canal Authority (SCA) has announced new Circular No. 1-2024 about regulations and costs of mooring boats, mooring services, and lights during vessels' transit through the artificial sea-level waterway in Egypt. Effective from 1 May, the mooring service will be shore-based, with mooring boats distributed along the canal. Only 30% of the ships in the convoy will have the mooring service on
Hapag-Lloyd applies new GRI from Latin America to North America, Mexico, Central America and Caribbean Hamburg-headquartered box line Hapag-Lloyd has announced a new general rate increase (GRI) from Latin America East Coast ports to North America, Mexico, Central America and the Caribbean. The GRI will be applicable to both dry and reefer containers and will be effective from 10 April until further notice. Hapag-Lloyd has decided to add a charge of US$250 per box. The German company noted that Lat
Liberian Registry supports design approval for tank LNG carriers The Liberian Registry, the world's largest shipping registry, will aid in the design approval process for the pioneering application of independent tank liquefied gas carriers. This innovative approach, developed by HD Hyundai Group's affiliates HD Hyundai Heavy Industries, HD Korea Shipbuilding & Offshore Engineering, and Hyundai Mipo Dockyard, has secured Design Approval for the "High-strength
ONE establishes new West Asia regional headquarters in Dubai The sixth largest container line in the world, Ocean Network Express (ONE) has opened its new West Asia regional headquarters in Dubai, UAE. "This strategic move aims to accelerate ONE's growth and expand its presence in the rapidly developing markets of the Indian Subcontinent, Middle East, and East Africa," said the company in a statement. The West Asia Regional Headquarters office will serve a
OceanScore analysis shows near-tripling of EU ETS costs due to Red Sea crisis Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the EU ETS as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to OceanScore. An increasing number of commercial ships have been taking the alternative route to Europe via the Cape of Good Hope - adding a
CN Photo Project: The Picture of the Month Container News wants to thank you all for your participation in the CN Photo Project . Among all the very beautiful photos we have received, the Container News team has chosen the following picture as "The Picture of the Month"! Title: Port of Seattle Port of Seattle Be part of the CN Photo Project and stay tuned to see your photo posted on Container News as the next "Picture of the Month". If yo
How to Monitor Carrier Performance Considering how fast-paced today's business environment has become, logistics management is key to any organization's success. Efficient transportation helps maintain a streamlined supply chain while attaining customer demands. Carrier performance monitoring comes in handy when looking to manage logistics effectively. Tracking your carrier's performance enables you to spot improvement areas to op
Red Sea developments fail to overcome seasonal lull as rates correct With the Chinese New Year over and liner operators adjusting their operations to accommodate the diversions round the Cape of Good Hope, rates have peaked and are likely to face downward pressure until the next pick-up in the third quarter, according to the Baltic Exchange's report. Freightos' research lead, Judah Levine, one of the report's writers, noted that rates from Asia to North Europe and
Hapag-Lloyd revamps Africa service network Starting in April 2024, Hapag-Lloyd will be enhancing its operations in the African continent, specifically by revamping its West-Europe-West-Africa (WWA) and West Africa Express (WAX) services. Through the revamped WWA and WAX services, Hapag-Lloyd will be able to open new direct routes from North Europe to the port of Tema in Ghana, while both services will encompass the geographical coverage p
Red Sea crisis spurs surge in TEU capacity: Newbuildings fully absorbed The total container ship capacity deployed on trades affected by the Red Sea crisis has increased by 1.26 million TEUs since October 2023, driven mainly by vessel diversions to the Cape of Good Hope, according to the latest Linerlytica report. The Far East-Mediterranean recorded the largest jump of 610,000 TEUs, accounting for half of the increased capacity over the period, followed by the Far Ea
Maersk, CMA CGM suspend Rio de Janeiro port call on joint service Maersk and CMA CGM have notified their customers about upcoming adjustments to their joint Bossa Nova/SIRIUS service connecting the Mediterranean with the East Coast of South America. Effective from 14 March, there will be a suspension of calls at Rio de Janeiro port (Southbound) until July with the exact date pending confirmation. CMA CGM said this measure aims to enhance service reliability, si
Performance Shipping locks away LR2 newbuilds in $170m deal with Clearlake Greece's Performance Shipping has secured employment for three of its ships under construction with Clearlake Shipping, a subsidiary of commodity trading giant Gunvor. The Nasdaq-listed tanker owner has fixed its LNG-ready, scrubber-fitted LR2 newbuildings for five years each at $31,000 per day. Clearlake also has two one-year extension options at disposal which include a base ...
Union Maritime taps wind-assisted propulsion for LR2 newbuilds UK shipowner Union Maritime has moved to fit two of its LR2 tankers under construction in China with BAR Tech wind-assisted ship propulsion technology. The two vessels, currently being built at Shanghai Waigaoqiao Shipbuilding (SWS) for delivery in late 2025, will each feature three WindWings rigid sails. Union Maritime's LRs are the latest vessels to ...
Bulk carrier with 23 crew hijacked off Somalia A Bangladesh-flagged bulk carrier with 23 crew was boarded in the Indian Ocean Tuesday by suspected Somali pirates some 600 nautical miles east of Mogadishu. The United Kingdom Maritime Trade Operations (UKMTO) said it had received reports from the "company security officer" of multiple armed persons boarding and taking control of the ship. In a ...
Fugro extends offshore wind marine survey partnership in Vietnam Dutch surveyor Fugro has extended its Memorandum of Understanding (MoU) with PTSC Geos & Subsea Services (PTSC G&S) to continue marine site surveys for offshore wind. Under the two-year agreement, Fugro's full range of marine site characterisation services and PTSC G&S's local survey capabilities will support Vietnam's growing offshore wind industry. This partnership between Fugro ...
Corio in offshore wind team up with Vietnamese power company Corio Generation, an offshore wind portfolio company of Macquarie's Green Investment Group (GIG), has signed a Memorandum of Understanding (MoU) with a Vietnamese electricity supplier as part of a strategy to bring offshore wind energy to the country. Corio signed the deal with the Power Generation Joint Stock Corporation 3 (EVNGENCO3), a subsidiary of Vietnam ...
BW Group to sell partial stake in DHT Holdings for $83m Singapore's BW Group has decided to put up for sale some 7.48m shares of New York-listed tanker giant DHT Holdings and further decrease its stake in the company. DHT said in a US Securities and Exchange Commission filing that BW listed over 7.48m shares of the company for sale. According to the filing, the shares ...
DOF clinches decommissioning contract with Shell Oslo-listed offshore contractor DOF has landed a deal with Norske Shell for subsea engineering, preparation, removal, and disposal in the Atlantic region. The contract worth between NOK250m ($24m) and NOK500m ($48m) will secure more than 100 combined days of utilisation of the operated vessels Skandi Hera and Maersk Installer. The workscope includes the recovery and ...
Russian oil terminals hit by drone strikes Ukraine has hit several Russian oil refineries with drone strikes in the past few days, continuing to damage Russian oil infrastructure after attacks on coastal refineries at the beginning of the year. The governor of Russia's Oryol region Andrey Klychkov stated that a fire broke out on Tuesday at an oil refinery in the region's ...
Shearwater wins survey for UK offshore carbon capture and storage project Shearwater GeoServices has been awarded a contract by Spirit Energy for a carbon capture and storage (CCS) project in the UK. It relates to Spirit Energy's license award by the UK's North Sea Transition Authority (NSTA) to repurpose the North and South Morecambe gas fields for carbon capture and storage. The so-called Morecambe net zero ...
Brazilian drilling contractor Petroserv agrees takeover deal Brazilian offshore drilling player Petroserv Marine is set to be acquired by a consortium of financial investors. A special purpose vehicle PS Marine Holding will take over all Petroserv's assets via a share purchase of its subsidiary, Universal Energy Resources for an undisclosed sum. Founded in 1972, Petroserv currently owns and operates a fleet of ...
D'amico gets rid of its oldest tanker for $27.4m Italian owner d'Amico International Shipping has sold its 47,162 dwt MR product tanker vessel Glenda Melanie for a consideration of $27.4m. The vessel was built in 2010 by Hyundai Mipo in South Korea and is the oldest vessel in d'Amico Tankers-owned and bareboat chartered-in fleet. At the delivery of the vessel, the company will generate ...
Schoeller-backed bunker platform launches Fuelink, a maritime technology provider, has launched its new digital platform providing bunker data management and fuel supply optimisation. Fuelink has been developed in conjunction with maritime energy solutions provider, Baseblue and diversified fleet owner, Schoeller Holdings. Fuelink enables fuelling strategy forecasting, bunker price comparisons and compliance with the European Union's Emi
Genco pockets extra $10.5m from delayed sale of two capes Sometimes in the lottery that is shipping a failed deal can be a bonus. Last month US-listed bulker player Genco Shipping & Trading revealed that it had terminated agreements to sell the 2010-built Genco Claudius and 2009-built Genco Maximus due to what Genco said was the buyer's breach of the agreements' terms. Genco has since ...
NGM Energy sells 2010-built cape for $32.5m The highly active S&P markets continue with notable activity in the bulker sector. This week, a famous Greek name has emerged at the top of multiple broker reports. Greek owner NGM Energy is reported to do what it does best, pocketing millions from buying and selling ships. This time, NGM Energy has sold a cape ...
Panama Canal Authority adds three more daily transit slots Solid amounts of rain have allowed the Panama Canal Authority (ACP) to add three extra slots per day at its panamax locks, taking the total daily maximum transits to 27, still more than 10 shy of the waterway's normal maximum, but a sign that the worst is over from the record drought that has been ...
Filipino crew head home from tanker seized by Iran Iran is releasing all the remaining crewmembers of the Greek-owned tanker St Nikolas, which was seized by Iranian military forces in the Gulf of Oman in January under a deal whereby a replacement crew will come to look after the Empire Navigation-owned suezmax. The Philippines' Department of Foreign Affairs (DFA) reached an agreement with Iran ...
Scale the key for MSC in post-2M era MSC's unrivalled capacity and weighty orderbook ensures it has the flexibility to respond to market requirements as it prepares to...
Rerouting pushing up ETS bill for containership operators Container lines have increased sailing speeds to maintain schedules on the longer routing around the Cape of Good Hope. But...
International Group outlines strategic road map Maintain inclusive approach to insuring owners using alternative fuels, IG tells members
Likes and shares: Shipping on social media and equity markets Company bosses can boost their online profile, and perhaps their share price, with an online following. But it has to...
Ship recycling recovery not expected until second half of 2024 Recycling volumes in the first two months of 2024 were less than half the levels seen in January and February...
Panama Canal adds extra slots An improvement in water levels in Gatun Lake has prompted the ACP to add extra panamax transits. But total crossings...
Bangladesh-flagged bulker hijacked off Somalia as resurgent piracy threat escalates Pirates have taken control of a Bangladesh bulker, Abdullah, with 23 crew on board as it sailed from Mozambique to...
Shippers lobby for direct container links to northern UK ports Over half of UK cargo is destined for the northern half of the country. But the three main container hubs...
Germany still world's biggest boxship player, claims VDR Press conference in Hamburg highlights challenges, including political tensions, recruitment and decarbonisation
Houthis threaten to escalate attacks during Ramadan The Iran-backed rebels warned of heightened military activities in the month of Ramadan, which concludes on April 9
HD KSOE lands four more VLCCs as ordering accelerates Year-to-date VLCC order count has reached 23 ships, surpassing the 18 ordered in all of 2023 and three in 2022
Daily Briefing Chinese demand props up Russia oil exports amid Western pressure | Turkish oil storage terminal stops accepting Russian oil on...
ONE sets up new regional headquarters in Dubai for west Asian market Sundeep Sibal, the head of global commercial service management at ONE, will lead the new regional headquarters
Canada's TFI buys Hercules Forwarding, extending LTL cross-border reach Montreal-based TFI gains capacity and capabilities on both the northern and southern US borders by acquiring Hercules, a less-than-truckload provider specializing in cross-border freight.
Seaboard Marine boosts US Gulf short-sea capacity to Central America Seaboard is adding calls to Costa Rica and Panama, among other countries, as Central American economies look to source raw materials from the US.
Red Sea crisis, Gemini alliance dominate 'corridor talk' at TPM24: analyst The uncertain security situation in the Red Sea and the pending partnership between Maersk and Hapag-Lloyd were, not surprisingly, popular talking points outside the conference's formal agenda, says Lars Jensen.
DP World shuns asset-light approach in rapid expansion of forwarding unit The port operator has grown its global forwarding footprint to 100 offices, using its network of terminals, warehouses, road and rail to provide greater visibility and control of shipments.
Asia-Europe ocean rates in rapid retreat as market settles into new normal As the shock of diversions around southern Africa wears off and weekly schedules mostly return to normal, the spot rates that peaked in mid-January are falling fast.
Railroads seek better communication with shippers on cargo movement While there is strong communication between motor carriers and railroads in the domestic intermodal market, those links don't yet exist between railroads and international shippers.
Bimco chief urges IMO fuel standard as 'central' to cutting shipping's carbon Head of shipowners group says fuel standard will push significant greenhouse gas emissions cuts
Ageing VLCCs change hands as asset values fall back to earth Owners selling large tankers are not banking anywhere near what they would have achieved a year ago, brokers say
What latest Russian refinery attacks mean for tankers Ukrainian drone attacks mark escalation against Russian energy assets after more than two years of war
What do the latest attacks on Russian refineries mean for tankers? Ukrainian drone attacks mark escalation against Russian energy assets after more than two years of war
Beware the hangover as container ship owners enjoy the rates party Boxship owners push for longer periods as charter rates plateau
Shipbroker, author, salesman: Michael Tusiani reflects on five decades in shipping Connecticut Maritime Association's incoming Commodore to be recognised for the 'value' he's brought
Alexander Hansson snaps up more Nordic American Tankers shares Second share purchase in days by the son of the company's founder
Performance Shipping tanker newbuildings clinch juicy long-term charters with Clearlake Gunvor unit commits to employ large product tankers well into the next decade
Dorian LPG gears up for 'hydrogen age' with VLGC upgrades But Oystein Kalleklev bets a steak dinner that midsize gas carriers will win the day
Insurer NorthStandard turns to AI in bid to improve navigational safety P&I club will encourage members sign up to Orca AI's situational awareness solution
JP Morgan linked to sale of LNG newbuildings at record price US producer Venture Global LNG moves in on early-delivering vessels as it holds on to its export volumes
Ray Car Carriers sets post-financial crisis price record as it joins VLCC newbuilding drive Shipowner adds its name to the elite group of major shipowners securing big tanker newbuildings
Union Maritime opts for wind power on new LR2 tankers in China UK owner showing commitment to sustainability and innovation in new deal with BAR Technologies
Free-spending German shipowners grow national fleet for first time in over a decade A decade of decline is reversed as German shipowners return to secondhand and newbuilding markets
YPF eyes up relocating Petronas FLNG unit to Argentina State-run entity opts to move ahead on large-scale LNG project
Greek shipowner Sea World piles up old tanker sales with aframax deal After offloading some of its oldest MRs, the Athens-based company seems about to do the same with crude carriers
Only way is up? VLCC owners await April loading dates in volatile markets Brokers looking to new cargoes to provide market direction as fixture flurry fades
Pirates take 23 seafarers hostage in bulker hijacking off Somalia Unnamed vessel slowed to 1 knot while heading north
Hijack fears after bulker boarded off Somalia Unnamed vessel slowed to 1 knot while heading northbound
Ray Car Carriers joins VLCC newbuilding drive with $520m deal Shipowner adds its name to the elite group of major shipowners securing big tanker newbuildings
Sanko Steamship checks out of shipowning on a high note with bulker sale More Japanese secondhand tonnage likely to hit the market as prices are set to stay high
Intership hires ex-Maersk executive Michael Elwert to boost post-management buyout board Cypriot company adds experienced executive who began shipping career at Maersk
Houthis vow Red Sea Ramadan ramp-up as Yemen says US-led airstrikes kill 11 US responded to assault on a container vessel with six strikes targeting an underwater drone and 18 anti-ship missiles
Michael Parker's cure for shipping slump in global capital markets Citi lender gives Capital Link conference some news that could cheer his investment banking counterparts
'It's like the Wild West': Battle ignites for shipyard space and secondhand vessels Owners may have cash but with newbuilding slots in short supply secondhand ships are fiercely fought over
D'Amico gets $20m cash injection from sale of oldest product tanker Italy's last public shipping company says the disposal is in line with its fleet modernisation plans
Andreas Sohmen-Pao's BW Group set to sell $83m slice of DHT Holdings stock Singapore shipowner has reduced its holding since ships-for-shares deal in 2017
Houthis vow Red Sea Ramadan ramp-up as US Navy fends off multiple missile strikes The US responded to an attack on a container ship with six attacks targeting an underwater drone and 18 anti-ship missiles
Ukraine blows up grounded Russian tanker 'used as control centre' Military issues footage of attack captured by drone
Switch from tankers to bulkers pays off for Joakim Hannisdahl's Gersemi fund Principal also talks up timely shorting of BW LPG stock
DNB targets shipping clients with new debt advisory team led by former HitecVision executive Unit will recruit more bankers to meet increasing demand from shipping, offshore and energy sectors
Advantage Tankers emerges as buyer of TRF VLCC for price that topped newbuilding cost Swiss owner adds seventh big tanker in acquisition spree
Panama Canal increases transits again as Red Sea still in crisis Gatun Lake water levels allow second increase of vessel throughput in two months
ONE targets Indian and Middle East markets with new Dubai regional HQ Singapore-based Japanese shipowner says region has become an increasingly key growth market
Pilot arrests Chinese bulker as gangway collapse ends his career Fujian Shipping vessel ordered to stay put in Deendayal Port in rare case of a ship arrested against injury claim
Singapore tightens foreign worker quotas for maritime sector Government wants industry to pivot towards higher-skilled, higher-value activities
Photo Gallery: The BelugaST delivers satellite for rocket launch You're familiar with the term "when pigs fly." But what about a whale? Airbus flies a fleet of cargo jets that have an uncanny resemblance to a beluga whale.
US container imports robust in February; inbound volume forecast dicier Descartes' monthly report shows strong February container imports, but March and April volumes appear less certain.
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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