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JUNE 13, 2024

HMM relocates & expands Global Service Center in Mumbai World Bank ups India's GDP growth projection for FY25 & FY26 SEZs' exports up 4 pc in FY24 Visakhapatnam Port in top 20 of Container Port Performance Index 2023 Cautious optimism about global economy in 2024, but geopolitical & domestic political tensions could play spoilers: Outlook Patenga Container Terminal in Chittagong becomes operational Ajit Shah's Gujarati book on 'Understanding International Business' released Dredging Corporation bags Rs 2,016 cr. contract from SMPA India's wheat output seen at record level MSC reinstates Mustang service between Asia & USWC Exports of iPhone touch $2 bn in April-May Significant rise in crude oil ships around Africa due to Red Sea attacks YOU ASK.. WE ANSWER...

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JUNE 13, 2024

Satellite delivered by An-124-100 More routes, more integration of transport data Pharma network says "kalimera" to newest member Cargo trains switch from diesel to HVO Driving for excellence in sustainability Second phase of Bilbao pier project out to tender Manchester hub now open Multimodality wins the prize TGE moves to electrify Australia's truck fleet An eventful spring congress High container demand raises Singapore prices Additional space for Milan Bergamo Airport Abu Dhabi to become next pharma hub "Curiosity of the Day" UP serves new railport in Utah Metso's new Chilean centre Public subsidy for ammonia supply project CCA welcomes new members

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JUNE 12, 2024

Container trades back in 'pandemic-level territory' - with rates still rising SNAFU at TOC Europe, but what's this? Positivity sighted! Carriers launch new transpac shuttle services as Chinese exports surge No let-up in cargo crime wave as thefts become even more sophisticated China boosts new-energy vehicle exports, sending them in boxes as tariffs loom Opportunity knocks for rail operators to boost volumes with combi services

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JUNE 12, 2024

Commandant testifies on USCG efforts to address sexual assault and harassment Coast Guard Commandant Admiral Linda Fagan is not getting wholly rave reviews following her testimony at a hearing entitled "Coast Guard Oversight: Sexual Assault and Harassment," held Tuesday before the Permanent Subcommittee LDA Airbus ships will feature Berg hybrid propulsion system Berg Propulsion has won a contract covering the hybrid propulsion solution that will ensure that three wind-assisted Louis Dreyfus Armateurs (LDA) RO/RO vessels maximize efficiency regardless of their mode of operation. The California LNG plant that fuels Pasha Hawaii ships gets capacity boost Newport Beach, Calif., based Clean Energy Fuels Corp. (NASDAQ: CLNE) has completed construction of a third production train at its Boron, Calif., LNG plant, increasing its volume capacity by 50%. Already the Seaspan awards Gastops contract to support Multi-Purpose Vessel (MPV) project Seaspan's Vancouver Shipyards has awarded Ottawa-headquartered condition monitoring specialist Gastops a contract to support the Canadian Coast Guard's Multi-Purpose Vessel (MPV) project. Gastops is a long-standing provider of specialized propulsion system integration

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JUNE 12, 2024

Baltimore port entirely open to shipping again Baltimore Port's shipping channel fully reopened on 10 June, more than two months after Francis Scott Key Bridge collapsed following an allision with box ship Dali. The channel restarted operations after the US Army Corps and US Navy Supervisor of Salvage and Diving removed 50,000 tonnes of debris from the 26 March incident that claimed the lives of six construction workers on the bridge. The US Malaysia's anti-graft body eyes containers for possible tax evasion Malaysia Anti-Corruption Commission (MACC) is launching a large-scale investigation into non-declaration of containerized imports, and is targeting all states with container ports. MACC Chief Commissioner Tan Sri Azam Baki said on 10 June that often, goods are declared as other items of lower tax value, resulting in a loss of government revenue. He was speaking after MACC uncovered a tax evasion Freight that can cost lives A group of industry bodies have banded together to produce guidance on some surprising, and some less surprising, hazardous cargoes that could save lives, the environment and unnecessary cost. The Cargo Integrity Group (CIG) brings together seven maritime, port, cargo and insurance interests in an effort to reduce the number of incidents that can occur due to badly packed or handled freight, eith LNG newbuilding values at record high The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first five months of 2024, an increase of c.129%. Newbuilding prices for the Large LNG sector of 174,000 CBM are currently at an all-time high of US$269 million, up by c. 6.1%. Values for LNG vessels have increased across all sub-sectors and age categories Innovate BC tests zero and low-emission trucks at Port of Prince Rupert Through an Integrated Marketplace project led by Innovate BC, new zero and low-emission heavy-duty (HDZEV) trucks will be integrated into operations at the Port of Prince Rupert. This initiative aims to reduce greenhouse gas emissions and promote sustainability in British Columbia's transportation sector. The HDZEV project will introduce four new trucks: two hydrogen-powered, one battery-electric Longshoremen reject further talks with US Maritime Alliance amid automation concerns The International Longshoremen's Association (ILA) announced plans to suspend labor negotiations with the United States Maritime Alliance (USMX) amid union concerns over the use of automation. Both parties had been negotiating local agreements related to a coast-wide master contract set to expire on 30 September 2024. However, ILA said it is opting to cancel talks with USMX after learning that AP Port of Long Beach appoints new environmental planning leader The Long Beach Board of Harbor Commissioners has approved the appointment of Renee Moilanen as the new director of Environmental Planning for the Port of Long Beach's sustainability initiatives. Moilanen will oversee the Environmental Planning division, which is responsible for key environmental policies and programs such as the Green Port Policy and the San Pedro Bay Ports Clean Air Action Plan Hiab introduces mobile app for operators Hiab, a division of Cargotec, has introduced the MyHiab mobile app to boost operator productivity and safety. This digital tool offers a range of features and resources related to Hiab equipment throughout its lifespan, serving as a valuable companion for users. It also establishes a direct line of communication between Hiab and end-users. "Hiab operators are our biggest fans and the most influen ARC equips entire U.S.-flag fleet with Starlink internet American Roll-On Roll-Off Carrier Group (ARC), the leading provider of U.S.-flag roll-on roll-off shipping, has equipped its entire American-flagged fleet with Starlink satellite internet technology to help mariners stay connected with their loved ones while at sea. Operated by SpaceX, Starlink utilizes low-Earth orbit satellites to provide high-speed internet access in remote areas, including ma Konecranes unveils new heavy-duty E-VER electric forklift Konecranes has introduced a heavy-duty version of its flagship E-VER electric forklift, designed for lifting capacities of 18-25 tons. Responding to increasing industry demand for low-carbon solutions, this new range reflects Konecranes' commitment to electrify their entire lift truck fleet by the end of 2026. The premium Konecranes E-VER electric forklift has already garnered significant attenti

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JUNE 12, 2024

Greek bulker struck by sea drone in Red Sea A Greek-owned bulk carrier has suffered significant damage after being struck by an uncrewed surface vessel in the Red Sea off Yemen. Multiple sources in Greece have identified the vessel as the Liberian-flagged Tutor. The United Kingdom Maritime Trade Operations (UKMTO) said in an update that the vessel had been hit on the stern by ... Solstad wins multiple vessel contracts in Brazil Norwegian vessel owner Solstad Maritime has secured multiple contracts from Brazil's Petrobras, worth a total of around NOK2.6bn ($243m). The contracts, announced by Solstad Offshore which holds a 31.6% stake in Solstad Maritime, are set to start in the second half of 2024 and the first half of 2025. Specifically, Petrobras has contracted the construction ... Gulf Marine Services gets more Middle East work London-listed liftboat operator Gulf Marine Services (GMS) has signed the second part of a two-phase contract for one of its vessels operating in the Middle East. The first part of the two-phase deal was signed in March this year. On both occasions, the vessel and the client were left undisclosed. The two parts combined will ... Wan Hai in for Chinese boxship resales Taiwan's Wan Hai Lines has bought a couple of resale containerships from China United Lines (CU Lines). The 7,000 teu scrubber-fitted ships are due for delivery in late 2024 and early 2025 from Shanghai Waigaoqiao Shipbuilding and are costing around $91m each, giving CU Lines a tidy profit. CU Lines originally contracted the ships two ... Eni sells 10% of Saipem Italian oil and gas company Eni has offloaded a 10% stake it owns in compatriot offshore engineering and construction giant Saipem. The shares sale resulted in Eni banking about €393m ($422.5m) from the Milan-listed Saipem at a price of €1.97 per share. Before the sale Eni held approximately 31.19% of the ordinary shares of the ... Kasuga Kaiun adds to bulker orderbook in China Japanese owner Kasuga Kaiun has added more bulker newbuilds to its orderbook in China. The Imabari-based tonnage provider has contracted two handysize vessels at Jiangmen Nanyang Ship Engineering for delivery in 2026. The 41,000 dwt units are costing $30m each, according to shipbuilding sources. Kasuga is listed with 13 owned ships, predominantly bulkers. The company ... Trafigura signs for more VLCC newbuilds Trafigura has returned to China for more very large crude carrier newbuilds. Multiple brokers report the global commodities trader has signed up for three additional 319,000 dwt VLCCs at Jiangsu New Hantong Ship Heavy Industry. No price has been revealed for the latest series, which will be fitted with scrubbers and ammonia-ready. Trafigura inked its ... Argeo bags site survey for RWE's floating wind project in California Norwegian surveyor Argeo has won a contract for an initial site investigation survey on RWE's Canopy floating wind project in Northern California. The contract includes a 40-day initial site investigation survey, with an option for an additional 30 days. The project's first activities will commence in June, with Argeo utilising its Hugin 6000 AUV and ... SSE-led consortium, Vattenfall-CIP JV win permits for two Dutch offshore wind farms An SSE Renewables-led consortium and a Vattenfall-Copenhagen Infrastructure Partners (CIP) joint venture have been awarded permits for constructing and operating two new offshore wind farms off the Netherlands. Noordzeker, a consortium consisting of SSE Renewables, Dutch pension fund ABP and its asset manager AGP, received the permit for the IJmuiden Ver Wind Farm Site Alpha ... Containers lost at sea drop to lowest level on record The World Shipping Council (WSC) has released its annual report on containers lost at sea, showing a significant decrease to 221 containers lost in 2023, the lowest number recorded since the survey began in 2008. The Marin TopTier joint industry project, launched three years ago, has contributed concrete outcomes on the causes of containers overboard ... BW Group looks to raise $93m from sale of Navigator Holdings shares BW Group is relinquishing its position as lead shareholder in New York-listed LNG shipping giant Navigator Holdings, putting shares worth $93m on the market. Chilean shipowner Ultranav is set to become the single largest shareholder once the sale of BW's 6m shares go through. BW became a shareholder in Navigator four years ago, acquiring stock ... LNG newbuilding values at record high The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first five months of 2024, an increase of 129%, according to new analysis from VesselsValue. Newbuilding prices for 174,000 cu m ship types are currently at an all-time high ... Panama Canal announces new increase in draft and daily transits The Panama Canal Authority (ACP) will increase the current number of daily transits from 32 to 33, effective July 11. Furthermore, this number will increase to 34 as of July 22, following the current and projected level of Gatun Lake for the coming weeks, and due to the arrival of the rainy season in the ... Geneva Dry 2025 set to cement position as world's premier commodities shipping conference Marketing officially gets underway today for the 2025 edition of Geneva Dry, the world's premier commodities shipping conference. Due to take place at the Hotel President Wilson on the shore of Lake Geneva on April 28 and 29 next year, a new line-up of sessions has been unveiled today, with interested delegates also able to ...

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JUNE 12, 2024

K Line teams up with Belgian green energy firm TES for e-natural gas supply TES seeks to establish a self-sustaining CO2 closed loop with zero emissions Related Stories Regional co-operation key to shipping's green fuel future Secondhand containership demand drive values 30% Djibouti denounces drastic port efficiency ranking drop in World Bank report Secondhand containership demand drive values 30% Containership values have risen by up to 30% since the beginning of the year as Red Sea diversions created a... Related Stories Regional co-operation key to shipping's green fuel future Djibouti denounces drastic port efficiency ranking drop in World Bank report Can artificial intelligence fix real supply chain problems Regional co-operation key to shipping's green fuel future The roundtable featured energy and shipping ministries from several African and Asian states held at Singapore Maritime Week Related Stories K Line teams up with Belgian green energy firm TES for e-natural gas supply Secondhand containership demand drive values 30% Djibouti denounces drastic port efficiency ranking drop in World Bank report Djibouti denounces drastic port efficiency ranking drop in World Bank report The port authority labelled the ranking as 'unjustified' and a misrepresentation. It is now in discussions with the publisher to... Related Stories K Line teams up with Belgian green energy firm TES for e-natural gas supply Regional co-operation key to shipping's green fuel future Secondhand containership demand drive values 30% Can artificial intelligence fix real supply chain problems? There is a non-negligible risk that AI becomes just another buzzword in the lexicon of failed IT projects. But DP... Related Stories K Line teams up with Belgian green energy firm TES for e-natural gas supply Regional co-operation key to shipping's green fuel future Secondhand containership demand drive values 30% Volatility in box sector here to stay The recent surge in freight rates should not come as a surprise in such a cyclical sector, analysts say Related Stories Panama Canal ups transit slots and draft again ahead of rainy season BW Group seeks to unload Navigator shares worth over $90m Daily Briefing June 12 2024 Panama Canal ups transit slots and draft again ahead of rainy season Two transits will be added to the current schedule - one to the panamax locks, lifting those to 25 daily... Related Stories Volatility in box sector here to stay BW Group seeks to unload Navigator shares worth over $90m Daily Briefing June 12 2024 BW Group seeks to unload Navigator shares worth over $90m BW acquired its stock in Navigator from WL Ross in 2020 at $9 per share, and the current price is... Related Stories Volatility in box sector here to stay Panama Canal ups transit slots and draft again ahead of rainy season Daily Briefing June 12 2024

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JUNE 12, 2024

ILA links contract wage proposal to ocean carriers' financial results The International Longshoremen's Association cited the "massive profits" ocean carriers have booked in recent years to highlight the wage proposal it plans to push in contract talks with employers. New trans-Pac services point to peak season rebound for 'under-utilized' NWSA With two new services starting up in the past month, the Northwest Seaport Alliance of Seattle and Tacoma anticipates a rebound in imports from Asia this peak season. Stakeholders sorting out per diem bills under new FMC rules The agency's detention and demurrage rules are still unclear as to billing those charges to truckers, according to challenges put forth by ocean carriers. New inland Port of Nevada provides alternative to draying ocean boxes The port is the latest inland location in the western US looking to capitalize on strict regulations in California that are driving up costs for trucking companies. Robust demand has Asia-Europe carriers pulling capacity, charter levers CMA CGM will deploy an additional seven, 7,000-TEU ships on the Asia-North Europe and Mediterranean trades from June 30 to early September. Photo credit: CMA CGM. Truckers, terminals and forwarders sorting out per-diem bills under new FMC rules The agency's detention and demurrage rules are still unclear as to billing those charges to truckers, according to challenges put forth by ocean carriers.

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JUNE 12, 2024

Houthis confirm using sea drone in strike against Evalend ship Greek shipowner's bulker is 'vulnerable' to sinking, Yemeni militant group claims Wan Hai splashes up to $188m as it bags newbuilding duo Taiwanese liner is forking out to take boxship newbuildings from China United Lines Court issues arrest warrant against MSC ship that lost control Lawsuit claims SMT Shipping vessel slammed into Charleston pier as a result of large wake Six-digit charter rates are back as CMA CGM pays over $100,000 per day Liner operators are again paying astronomical rates for short periods US East Coast port dispute risks inflating container shipping markets further Row over automation could drive freight rates up Stricken Evalend bulker needs assistance after Houthi strike in Red Sea Evalend's 82,000-dwt Tutor (built 2022) takes on water after being hit twice, from the sea and from the air EU mulls sanctions against Russian tanker owner Sovcomflot Document seen by Bloomberg contains proposal to designate state shipping company over Ukraine war Idan Ofer sells $110m of Zim shares as he hedges another chunk Deal sees Israeli billionaire's stake cut to 16.5% Stricken Greek bulker needs assistance after Houthi strike in Red Sea Evalend's 82,000-dwt Tutor (built 2022) was hit twice, from the sea and from the air Idan Ofer-led Eastern Pacific inks near-billion-dollar car carrier newbuilding deals Singapore-based company gets 'ahead of the newbuilding curve' as it makes a splash in feeder niche US LNG permit pause set to delay projects by two years, Poten says Hold-up set to 'open door' for other global liquefaction developments Suspected sea drone strike leaves bulker 'taking on water' in the Red Sea Maritime security firm Diaplous reports incident 70 miles south-west of Hodeidah, Yemen Bulker 'taking on water' after suspected Red Sea Houthi missile strike Maritime security firm Diaplous reports incident 70 miles southwest of Hodeidah, Yemen End to Gaza fighting will not bring about quick Red Sea return, warns Frontline boss Lars Barstad Any pause of hostilities between Israel and Hamas is likely to be 'vulnerable', chief executive argues Record chemical tanker rates to go even higher, Stolt Tankers says World's largest specialist operator increases rate guidance for second quarter Pressure mounts as two Sovcomflot shuttle tankers fail to lift Sakhalin-2 cargoes The Zaliv Vostok and Zaliv Baikal have not exported crude since 21 May, tracking data shows Turkish tanker master faces jail after admitting deliberate oil dumping in US Abdurrahman Korkmaz pleads guilty to pollution offences on the PS Dream Trader Trammo inks LPG newbuilding charter deals in China Ammonia trader fixes five dual-fuel ships on long-term deals SSY hires new Middle East capesize head from rival Braemar Katzler returns to the shipbroking group where he began his career Avic Leasing linked to Seanergy capesize sale-and-leaseback deal US-listed bulker player taps Chinese leasing company to help fund latest purchase BlackRock explores exit routes for its stake in GasLog Have LNG shipowner and private equity main shareholder run their course? Greece's Interunity brings cycle of success to Posidonia Day of riding and relaxing in the Greek mountains brings cyclists together before week of activities in Athens Kumiai Navigation extends dual-fuel VLGC series against charter from Canadian energy player Kawasaki Heavy Industries has been contracted to build gas carrier Former Sovcomflot aframax heads for demolition in Bangladesh Shadow fleet reported to be losing tanker