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MAY 13, 2024

JNPA & PSA inaugurate zero-emission transport corridor with EV trucking solutions CULINES enhances its VGX service with direct coverage from Singapore/Indonesia to West Coast of India & Middle East Enhancing cargo protection & risk mitigation in inland navigation China's exports & imports up in April India to import 0.15 mt Bengal gram Pressure seen on West Med hub ports' capacity Baltic Exchange Market Report (10 May 2024) Devki Nandan of JSW Infrastructure takes charge as President of IPPTA DP World bags two sustainability awards Gangavaram port strike talks inconclusive

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MAY 13, 2024

More and more electric HDVs hit the roads Dnata enhances Singapore operations Pall-Ex boosts services in Ireland A distribution centre in Dubai Exploring maritime fuel alternatives More Maersk in Miami Czech carrier grows abroad ID Logistics names MD for its Italian branch New sub-base to be opened in Edmonton DP World makes moves in Laos Zim to maintain reefer tracking system A director for ocean product North America "Curiosity of the Day" Hermes 5 goes live in Abu Dhabi Augmenting drayage services in the USA A big fish for sustainable packaging ACL launches faster Ireland-North America route Flowers and SAF to fuel Mother's Day's shipments

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MAY 10, 2024

A 'carrier-controlled market' as spot rates rise and capacity tightens At liquidation value: M&A mongrel Forward Air - how exciting! Surging ocean waves sending ripples into airfreight Carriers forced to seek alternatives as capacity crunch at Colombo Port tightens Ancora gains three seats on NS board, but fails to oust CEO Shaw Yang Ming chiefs deny receiving extra bonus as profits double in Q1 SME forwarders shouldn't fear carrier moves, but watch out for 'Amazonisation'

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MAY 10, 2024

Bipartisan group of lawmakers releases roadmap for revitalizing U.S. maritime Senator Mark Kelly (D-Ariz.) and Representative Mike Walz (R.-Fla.) along with Senator Marco Rubio (R.-Fla,) and Representative John Garamendi (D-Calif.), have released a roadmap for revitalizing the U.S. maritime sector. Entitled "Congressional Kodiak Enterprise fire report faults fire detection and notification system A fire detection and notification system that didn't notify is a key focus of the National Transportation Safety Board report on the fire that broke out on the 1977-built, 276 foot long

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MAY 10, 2024

New gantry cranes to enhance Halifax port operations The Port of Halifax has received the first four of eight electric rubber tyre gantry cranes (E-RTG) to terminal operator PSA Halifax's Atlantic Hub. The cranes are expected to increase yard handling capacity by approximately 25% at Atlantic Hub. Their arrival is part of PSA Halifax's investments in the Canadian port's container terminals to improve productivity and reduce maintenance down time c Euroseas secures time charter contract for new feeder boxship Greek vessel owner Euroseas has entered into a time charter contract for the 1,800 TEU container ship Monica, which is currently under construction. The charter agreement will span a minimum of 10 months and a maximum of 12 months, at the option of the charterer. The gross daily rate will be US$16,000. The new charter will commence upon delivery of the vessel from the shipyard expected around mid DP World and Asian Terminals Inc. open new barge terminal in the Philippines DP World and Asian Terminals Inc. (ATI) announced the opening of Tanza Barge Terminal in Cavite, Philippines to facilitate the transport of goods and raw materials and enable greater connectivity by sea within the Philippines. Located within the newly designated MetroCas Industrial Estates Special Economic Zone, Tanza Barge Terminal is designed to handle almost 240,000 TEUs annually and will be m Maersk announces Far East peak season surcharges Danish ocean carrier Maersk has announced new peak season surcharges from Far East Asia to several destinations worldwide. Firstly, Maersk will implement a PSS from Far East Asia to the East Coast of South America for all dry containers, as follows: Origin Destination Effective Date All 20 Dry All 40 Dry and 45hdry 20REEF / 40HREF Brunei, China, Hong Kong China, Indonesia, Japan, Cambodia, Korea,

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MAY 10, 2024

Shots fired off Somalia A merchant vessel has reported a suspicious approach by a blue-hulled small boat with several armed men some 170 kilometres northwest of Bosaso, Somalia Maritime security consultancy Ambrey has stated that the vessel was approached from the starboard side of the unnamed vessel to within 100 metres. The boat was carrying 5-6 armed people with ... Island Offshore and Tidewater score PSV fixtures Norwegian offshore vessel players Island Offshore and Tidewater's Troms Offshore have secured PSV contracts with compatriot well management firm, Well Expertise. The 2012-built Island Contender and Troms Sirius have been fixed for about 60 to 90 days, according to Norwegian shipbroking outfits. No rates have been reported. The duo has been booked for supply duties, ... PGS awarded new contract off West Africa Norwegian seismic acquisition specialist PGS has secured a new 4D survey contract offshore West Africa. The Oslo-listed company said the deal is with an international energy player and that project mobilisation is set for early September. The contract with an undisclosed value has a total duration of about 65 days, with an option to extend. ... Noble scores $40m debut rig deal in Spain The rig owner said that an undisclosed operator hired its Noble Resolve jackup for a campaign that will consist of plug-and-abandon work on 13 wells. It is expected to begin in the second quarter of 2025 and last approximately 170 days. The contract value of $40m includes mobilization and demobilization of the drilling unit. "We ... Guy Platten to step down as head of shipping's top lobby group Guy Platten has announced he will step down as secretary-general at shipping's top lobby group, with a search for a successor to helm the International Chamber of Shipping (ICS) set to get underway in the coming months. Platten, who moved from the UK Chamber of Shipping to ICS six years ago, will stay in the ... Spot box prices spike Spot box rates are steeply in the ascendant, showing upticks this month akin to the start of Red Sea shipping crisis, or even the onset of the covid pandemic. Drewry's weekly composite global index published yesterday increased 16% to $3,159 per feu and has increased by 81% when compared with the same week last year. ... Pangaea expands bulker fleet with supramax brace Nasdaq-listed US bulker owner Pangaea Logistics Solutions is expanding its fleet with two secondhand supramaxes. The Rhode Island-based company said it has struck a deal to acquire 2016-built 58,000 dwt vessels for $56.6m. The vessels were not named, but in a release on Friday, Norwegian bulker owner Belships revealed selling supramaxes Belfriend and Beltide of ... Itochu books ultramax bulkers at New Dayang Japan's Itochu Corp has contracted two ultramax bulk carriers from Chinese builder New Dayang. The shipbuilding arm of state-run machinery manufacturer Sumec Group did not reveal the value but said the deal with the trading house was its second from Japan this year. The yard in Jiangsu has had five ultramaxes in total booked by ... Scorpio Tankers sells another MR Monaco-based product tanker giant Scorpio Tankers is offloading another of its MR vessels. The Emanuele Lauro-led New York-listed firm said it had struck a deal to sell its 2015-built STI Manhattan for $40.8m. The buyer was not disclosed, but S&P sources suggest the 49,990 dwt ship is going to South Korean owner KSS Line in ... Dry bulk faces up to realities of decarbonisation The second day of the inaugural Geneva Dry saw panellists turn their attention to a topic that has never been more popular - decarbonisation. The discussion looked at the current state and future of dry bulk emissions-wise and who will pay for it all. Moderator of the session, Mette Asmussen, the lead of maritime sector ... IT cost benchmarking initiative launches Thetius, a British maritime tech research firm, is launching an IT cost benchmarking club for shipowners. "The integration of new technologies, from cloud-based systems to advanced cybersecurity measures, has shifted IT from a support function to a central business pillar. Yet, without a clear standard for investment and performance, many organisations find themselves navigating blind ...

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MAY 10, 2024

Rising US imports add more fuel to resurgent Red Sea-driven rate rally Spot rates are spiking again on the Asia-US west coast route, a trade that is not directly affected by canal... Palau defends actions in Dubai tug operator abandonments The Palau registry is defending the actions it took in the Middle East Marine LLC seafarer abandondment cases. The Dubai... Daily Briefing May 13 2024 US-sanctioned Hennesea tankers turn to fake flag of Eswatini | Türkiye to lose major seaborne trade partner with Israel ban... US-sanctioned Hennesea tankers turn to fake flag of Eswatini The future of Hennesea's sanctions-busting tankers perceived as the first real test of the efficacy of enforcement and compliance of... Ships should not be attacked on the basis of an owner's passport The Houthis have no business launching missiles at ships at all, let alone singling out Mediterranean Shipping Co because one... Türkiye to lose major seaborne trade partner with Israel ban Turkish embargo to hit containerships, bulkers and general cargo vessels The Lloyd's List Podcast: Is NYK betting too much on decarbonisation? The Lloyd's List Podcast moves to Japan this week, where NYK chief executive Takaya Soga shares his insights on why... Updated: Attempted piracy attack reported off Somalia A European warship responded first to the incident and apprehended the suspected pirates, treating some with "injuries of varied severity" Unabated Red Sea crisis propels new surge in global container rates This week, both the Shanghai and Drewry container rate index have experienced significant surges. Even so, they have now come... Wallenius-funded Baltic ro-ro cargo operator confirms service start date New thrice-weekly service is seeking to reduce road miles by encouraging a switch from accompanied trailers that are routed via... Costamare confirms capesize additions as core profits increase Diversified US-listed owner had $1.1bn of liquidity at end of quarter Awilco refinances two LNG carriers at lower costs with CDB Leasing The 12-year charter comprises rentals of up to $200m in line with the vessel transfer price and around $117.8m in... Attempted piracy attack reported off Somalia The attempted attack follows a spike in reported piracy incidents off the coast of Somalia in the first quarter of... Product tanker owners savour heady mix of geopolitics, strong demand and shrinking debt Earnings of product tanker owners have been juiced by trade disruptions from the Russia-Ukraine war and the Houthi attacks in... Former SIPG president faces prison for $5m bribery If convicted, Yan may face a long prison sentence. His former superior at SIPG, Chen Xuyuan, was sentenced to life... Product tanker owners savour heady mix of geopolitics, strong demand, shrinking debt Earnings of product tanker owners have been juiced by trade disruptions from the Russia-Ukraine war and the Houthi attacks in... High-flying Teekay Tankers primed for TMX pipeline boost Mid-sized tanker specialist Teekay Tankers is primed to capitalise on the new TMX pipeline as emerging routes should boost demand...

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MAY 10, 2024

Forward Air claims 'no customer attrition' following Omni merger The expedited surface transportation provider said it has kept customers and is adding business but needs to "aggressively" address profitability after a first-quarter loss. Ro/ro carriers report mixed results on 'sold out' capacity Roll-on/roll-off carriers Wallenius Wilhelmsen and Höegh Autoliners anticipate high auto volumes and tight capacity ahead amid Red Sea-driven diversions. Yang Ming nearly triples Q1 profits on improving shipping market While Yang Ming was upbeat about improving container volumes and easing global inflation, the Taiwan-based ocean carrier warned of geopolitical volatility. Declining India-Europe vessel reliability reverses rate decline Poor schedule reliability, challenged by a container supply chain that has been stretched thin by diversions away from the Suez Canal, is causing spot rates from India to Europe to rebound. Dali refloating triggers multiyear insurance claim process for shippers Shippers will soon be able to retrieve cargo aboard the Dali, but they or their insurers will be expected to post sizeable bonds to cover general average claims. No sign of air freight demand easing as 'slow' summer nears Underpinning strong volume growth is booming demand for Chinese e-commerce in the US and modal shift from ocean to air in South Asian countries to mitigate Red Sea disruptions.

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MAY 10, 2024

OSG still mulling takeover approach as stock rockets past offer price Shares touch highest point since 2016 after quarterly results Wavelength podcast: The joys of owning product tankers, and the dark fleet keeps growing Surging tanker markets, the dark fleet, criticism of green corridors OSG bullish on Jones Act tanker rates following profitable quarter Florida owner saw its top and bottom line figures rise in the first quarter Container line shares surge as container freight index rises to highest point of the year Zim shares reach highest level in more than a year in New York as container shipping demand signs look positive Explosives to help free Dali from collapsed Baltimore bridge After bridge section is removed, authorities will determine how best to refloat grounded container ship Editor's Selection: A $1bn bulker order, shipowners buying into brokers and a billionaire's big birthday These are the top shipping stories making the headlines this week Russia sanctions and rising demand: Why product tanker owners and investors are smiling Longer runs and strong demand mean the spring market lull may be off the table Transportation Recovery Fund chemical tanker sale effort finds Danish buyer Purchase of TRF Kashima marks Celcius Shipping's return to stainless steel chemical tankers Now is the right time: ICS chief Guy Platten to step down in 2025 Secretary general has lobbied to ensure shipping gets fair share of green fuels Green transition, green jobs: Analysis shows meeting carbon goals could employ millions Employment opportunities could power just transition, if IMO goals are met EU warship arrests wounded pirates after failed Gulf of Aden tanker raid Ship that exchanged fire with attackers is revealed as product tanker Chrystal Arctic Red Sea disruption lifts liner operator Yang Ming back to profit Taiwan's second-largest line is cautious in the face of oversupply and geopolitical uncertainty Vard makes it five offshore vessel orders in two days with deal in Taiwan Norwegian shipbuilder adds to wind farm ship backlog VLGC rates jump as congested Panama Canal's transit auctions hit $1.7m Brokers report wider price differential in US and Asia also contributing to strong gains Bigger tankers could cash in from new pipeline, says Teekay Tankers chief Canada's TMX facility will begin loading an aframax a day in May Greek owner Phoenix Energy Navigation exits shipping with capesize sale to fast-growing Hayfin Capital UK asset manager acquires fifth capesize bulker in ongoing secondhand investment drive Costamare ups capesize bet with two more acquisitions US-listed container and bulker player remains solidly in the black, boosted by Red Sea disruption Fraudsters target seafarer families in 'fake crime' scam Criminals posing as police and customs demand cash to secure the release of relatives at sea Cash-rich Teekay Tankers eyes first secondhand buys in a decade Fleet renewal on the agenda for US-listed owner, but no newbuilding plans for now Tor Olav Troim-backed 2020 Bulkers an unstoppable 'dry bulk dividend machine' Fearnley Securities predicts more shareholder returns ahead due to low cash breakeven UK to hit Russia sanctions busters with fines as oil cap probe ramps up Treasury claims it is using post-Brexit powers to secure evidence to back price cap investigations Triple crisis promises second record year in a row for d'Amico International Shipping It could in the view of chief executive Carlos Balestra di Mottola - although he is not raising expectations China's CDB Leasing confirms Awilco LNG two-ship sale and leaseback deal Norwegian owner has the option to repurchase vessels at the end of lease for $44m John Fredriksen quiz - 80th birthday edition How much do you know about one of shipping's most famous faces? Gunfire exchanged as cargo ship reports suspicious approach off Somalia Blue-hulled boat was spotted with armed men carrying ladders north-west of Bosaso John Fredriksen at 80: Iconic shipowner and dealmaker set to celebrate landmark birthday on French Riviera He's still hands-on, and earning wide respect for his dealmaking and business longevity but will he retire? Belships exits supramax sector with 'extraordinary return' on double sale Norwegian owner says fleet of 38 ships will now consist solely of ultramaxes Torm to profit as charterers look to hedge against high tanker rates, Fearnley Securities says Analyst Fredrik Dybwad argues counterparties are seeking longer-term deals as freight costs rise Secret tanker sale sees Athens-based ship manager hit with $12.3m payout Saint James Shipping boss Sam Tariverdi claimed he was handed LR2 tanker to settle unpaid bill for valuable Persian carpets China's CDB Leasing confirms Awilco LNG two-ship sale and leaseback deal Norwegian owner has the option to repurchase the vessels at the end of the lease for $44m. DNB sustainable finance head urges more shipping clients follow Odfjell lead Nina Ahlstrand sees a shift from climate targets to concrete measures