Carnival orders its first new cruise ship in five years In another sign of the cruise industry's return to good health, the world's largest cruise ship operator, Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today reported that it has has signed
Stena Bulk to charter in eco MR tanker newbuild quartet Gothenburg headquartered Stena Bulk has reached five-year agreements that will see it charter in four newbuild eco MR tankers set to be delivered in 2025 and 2026 Two of the medium range,
Kuala Linggi International Port kicks off construction of state-of-the-art port facility Kuala Linggi International Port (KLIP) announced the launch of construction works for its innovative port facility, marking a significant milestone in its journey to become a pivotal hub for global trade and commerce. Set to be completed within 42 months, KLIP envisions transforming Kuala Sungai Linggi into a Green Global Industrial Hub for Energy Source, Port, and Maritime Services. The developm
CMA CGM receives A- rating from the Carbon Disclosure Project The CMA CGM Group has received an A- rating from the Carbon Disclosure Project (CDP) in its 2023 climate index. The Carbon Disclosure Project stands as one of the primary environmental performance benchmarks for major corporations globally. CMA CGM said this recognition emphasizes the significant advancements made by the Group in reducing carbon emissions from its shipping operations, demonstrati
UK freight forwarders embrace UK decision on container shipping rules The United Kingdom's Competition and Markets Authority (CMA) will not recommend to the Secretary of State for Business and Trade that the current Consortia Block Exemption Regulation (CBER) be replaced by a UK equivalent when it expires on 25 April 2024. CMA's decision has been welcomed by the country's freight forwarders. After conducting a comprehensive analysis of the deep-sea container shippi
How long can Maersk investors tolerate below-par performance, wonders Linerlytica Maersk blamed overcapacity for its record EBIT losses in the fourth quarter but it failed to mask the fact that it has continuously underperformed the market, according to Linerlytica's latest report. The Danish ocean carrier reported EBIT losses of US$920 million for its Ocean business with EBIT margins dropping to -12.8% in the last quarter of 2023, which is more than 5% lower than its liner pe
Braemar sees looming crisis in feeder sector Demand for feeders is rising mainly as a consequence of the Red Sea crisis which has had a knock-on effect on demolition, but ultimately the ageing feeder and regional fleet will need replacing. Following the Houthi Movement's attacks on commercial shipping at the Bab al-Mandeb strait major liner operators have diverted their services around the African Cape, but this means ships no longer transi
Worker killed as shipbuilding structure topples in HD Hyundai Heavy Industries A shipbuilding structure weighing 9,000 tonnes came loose at South Korean shipbuilder HD Hyundai Heavy Industries (HHI) on the evening of 12 February, killing one and injuring another. Today, South Korea's Ministry of Employment and Labor imposed a stop-work order on offshore structure block-related processes at HHI's Ulsan yard and is investigating whether the country's largest shipbuilder viola
Finnish partners to develop green shipping corridor On 6 February, Ports of Stockholm, Port of Turku and Viking Line announced a formal partnership to develop a green shipping corridor between the Finnish ports of Turku and Stockholm. The initiative seeks to eliminate fossil fuel usage from shipping along this route by 2035. The parties signed a memorandum of understanding (MoU) outlining their commitment to establish a scalable framework for tran
Gantrex Group acquires major Port Crane Services provider Gantrex Group has acquired Liftcom marking its second move into the Port Crane Services (PCS) sector which will function as the second PCS hub for the North-Western region in Europe. This strategic move is poised to significantly bolster the company's presence in the Dutch market and solidify its position in Rotterdam, Europe's premier port boasting over 100 ship-to-shore cranes and 300-yard cran
APM Terminals and Toyota expand their partnership to Valencia Gibraltar Stockholdings (TGS), a specialist distributor of Toyota vehicles and spare parts for humanitarian agencies, has extended its business with APM Terminals to ensure the safe and just-in-time arrival of Toyota vehicles at their destination. This is an expansion of the service provided by Maersk, the owner of APM Terminals, and the result of experience at APM Terminals Algeciras in Spain, w
CMA CGM announces new rates from West Africa to Algeria French container line CMA CGM has announced that the latest regulatory constraints for cargo destined for Algeria prohibit any option for transshipment or transit through Morocco, leading to additional expenses. To address this, CMA CGM will implement a Freight Adjustment Charge (FRT68) effective from 15 February 2024 (loading date) until further notice, for all shipments from West African ports
Maersk revises surcharge from India, Sri lanka, Bangladesh, Nepal, Maldives, Pakistan to UAE Danish container shipping line Maersk is revising the peak season surcharge (PSS) from India, Sri Lanka, Bangladesh, Nepal, Maldives and Pakistan to United Arab Emirates. The following updated surcharge will be effective from 19 February 2024. Surcharge code Origin Destination 20 DRY 40 DRY 40 HDRY Peak Season Surcharge India, Sri lanka, Bangladesh, Nepal, Maldives and Pakistan United Arab Emirat
Ambrey and Inchcape Shipping Services partner to boost maritime safety Ambrey, a company in the maritime security risk management industry and Inchcape Shipping Services (ISS), one of the world's leading port agencies and marine services providers, have launched a strategic partnership to revolutionise safety and security within the maritime industry. According to a statement, this collaboration merges cutting-edge technology, worldwide presence, and unparalleled ex
Kalmar to enhance Réunion Island box terminal with hybrid equipment Kalmar and CMA CGM's subsidiary CMA Terminals have reached an agreement for the supply of three Kalmar hybrid straddle carriers to SAMR, a terminal located on Réunion Island. The order was registered in the 2023 Q4 order intake of Cargoted, the mother company of Kalmar with the machines set to be delivered in the fourth quarter of 2024. Réunion Island, a French department in the Indian Ocean, now
Maersk stops Oakland port calls on WCCA 2 service Maersk decided to temporarily remove the port of Oakland from the WCCA 2 service port rotation. The Danish company said it took this action to maintain schedule reliability. The Oakland call removal from the WCCA 2 service results in a suspension of booking acceptance for 20 weeks. "Our last call in Oakland was made on 4 February with the Maersk Glacier 404S," said the ocean carrier in a statemen
Global Ports expands VSC's fleet with three new straddle carriers Global Ports, one of the major operators of container terminals in Russia and a part of the Delo Group, has acquired three new straddle carriers for its Far Eastern terminal, Vostochnaya Stevedoring Company (VSC), located in Primorsky Krai. This move is a part of Global Ports' initiative to modernise its facilities and enhance the throughput capacity of the Vostochny port. Manufactured by ZPMC, a
DHL Freight trials hydrogen-powered truck in Germany DHL Freight recently introduced a hydrogen-powered truck manufactured by Paul Nutzfahrzeuge GmbH for a one-year trial run at their Cologne site in Germany. This truck, named the Paul Hydrogen Power-Truck, is based on the Mercedes-Benz Atego model and will be utilized for both distribution and line hauls. Notably, this marks DHL Group's second hydrogen truck in Germany, with another already in ope
Valeura Energy buys FSO working on Nong Yao field off Thailand Canadian operator Valeura Energy has exercised its purchase option to acquire Nong Yao field's , previously under lease from an Omni Offshore Terminals subsidiary. The purchase price for the vessel is $19m which will be funded with the company's cash resources upon completion of the transaction, anticipated in June 2024. Given the pending expansion of ...
Star Bulk takes kamsarmax newbuild series to five Greek dry bulk giant Star Bulk Carriers has revealed more kamsarmax newbuilds in China as it works toward renewing its fleet portfolio. The Nasdaq-listed owner and operator of around 115 bulkers has contracted three 82,000 dwt ships at Qingdao Shipyard on top of two units booked at the yard in October last year. The first ...
Island Drilling considering legal action over semisub contract termination Norwegian rig owner has disputed the termination of the Island Innovator semisub contract with Trident Energy for a drilling campaign offshore Equatorial Guinea. Island Drilling said that Trident did not accurately describe the situation on the rig as there were no critical safety incidents. The company added that the blowout preventer had been checked and ...
Inchcape joins forces with Ambrey Port agency and marine services provider Inchcape Shipping Services and security specialists Ambrey have partnered up to transform safety and security in the maritime sector. The synergy will enable the maritime industry to bolster safety protocols, enhance operational efficiency, and address potential risks, the companies said in a statement. The partnership will integrate Inchcape's understandi
Stena Bulk charters in MR tanker newbuild quartet Swedish shipowner Stena Bulk has expanded its fleet with long-term charter agreements for four eco medium range (MR) tanker newbuilds. Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025. Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All ...
National emergency in Tobago as mystery ship spews oil Vessel trackers have been unable to identify the name of a ship which capsized six days ago, creating a national emergency in Tobago as oil rushes up on the Caribbean island's southwestern shoreline. Divers have not been able to check the 100 m long capsized vessel's International Maritime Organization registered number, saying the volume of ...
DOF scores $20m in Asia Pacific vessel contracts Norway's DOF has won a new contract and secured an extension on its previous deal, further bolstering its backlog in the Asia Pacific region. The Oslo-listed offshore vessel owner has fixed the 2010-built CSV Skandi Hercules for work offshore Australia into the third quarter of 2024. The contract covers project management and engineering, logistics support ...
Safe Bulkers gets rid of oldest ship in its fleet New York-listed Greek dry bulk owner Safe Bulkers has entered into an agreement for the sale of the oldest vessel in its fleet. The company said it sold the 2005 Japanese-built, 76,000 dwt panamax bulker at a gross sale price of $12.2m. The name of the buyer was left undisclosed. According to the company, the ...
PGS wins offshore wind site survey contract Oslo-listed seismic player PGS has secured an offshore wind site survey contract in Europe. Mobilisation for an unnamed project is scheduled for early July, and the campaign will last approximately two months. The project will be acquired with PGS' ultra-high-resolution 3D streamer, providing significantly more detailed subsurface data for shallower targets compared to traditional seismic ...
MSC to take over Wärtsilä plant in Trieste Cash-rich Gianluigi Aponte has come to the rescue of a factory plant in Trieste faced with closure. Finnish marine technology firm Wärtsilä announced 18 months ago it was scaling down its manufacturing in Trieste, a city where it has had a presence since 1997, buying into and then taking over the 1972-founded Grandi Motori Trieste ...
Geneva Dry Dialogues: Idwal British firm Idwal is building a commanding position in the vessel inspection business, conducting an S&P inspection on 45% of all vessels sold across the world last year. The company is bringing a strong delegation to Geneva Dry on May 2, the world's premier commodity shipping event, keen to rub shoulders with the many shipowners ...
Five schools of thought on key maritime issues Wolfgang Lehmacher, Richard Watson, Mikael Lind, Jillian Carson-Jackson and Sukhjit Singh release details of a new maritime expert study. Stakeholders often have diverse backgrounds with different interests, which can lead to divergent and conflicting points of view. The competitive maritime industry is marked by power dynamics and competing priorities. Communication can represent a challenge thr
Norway, Brazil and UAE support China's IMO fund proposal Mid-term economic and technical measure proposals start to emerge ahead of MEPC81, which will be held on March 18-22
Navios Partners rings up more than $300m of recent sales with VLCC deal Charter termination payment helps US-listed owner to higher fourth-quarter profits
Flagless, sanctioned ships with no clear insurance continue to trade unchallenged Three sanctioned ships formerly owned by the Syrian government continue to carry grain between Russian occupied Crimea and Syria, despite...
Reinsurance jitters leave clubs forced to drop Red Sea war risk extensions for fixed premium clients The situation is unchanged for mutual entries that make up most of the world fleet, but the effect will be...
Houthi threat to shipping will remain whatever Gaza outcome, say analysts Houthi attacks have successfully forced the reconfiguration of international trade flows with Bab el Mandeb transits halved, according to Lloyd's...
'Hell and high water' clause applies despite Red Sea crisis, Reed Smith warns High risk of mistaken identity for ships with no links to Israel, US or UK, adds Gallagher
India-Europe diesel exports dip on Red Sea diversions Vortexa data shows higher freight costs from diversions around the Cape of Good Hope are curbing east-west trade volumes shipped...
Australia's ports continue to face congestion and delays Shippers in Australia are facing higher costs and disruptions. Vessels are being delayed by up to 10 days in worst-affected...
Precious Shipping sees 'extreme volatility' ahead for shipping market Fiscal and monetary stimulus by governments could boost the markets, as could a better steel sector, easing of financial conditions...
Safe Bulkers keeps fleet renewal rolling with sale of oldest vessel Fourth-quarter spot market an improvement on third quarter, says owner, but weaker than like quarter of 2022
Star Bulk adds to kamsarmax orderbook amid 'positive' dry bulk prospects US-listed owner of 115 bulkers reiterates belief in benefits of expected merger with Eagle Bulk to create 'global leader' in...
Daily Briefing Leaked papers reveal inner workings of Iran's shadow oil trade | Aggrieved shooter kills three at European Navigation offices |...
PMA taps COO Hennessey to replace McKenna as president, CEO Hennessey joined PMA in 2004 after holding management positions in the shipping and trucking industries, including with Sea-Land Service, Roadway Express and Horizon Lines.
Carriers, shippers using feeder networks to mitigate Red Sea port disruptions The shipping industry still deems southbound voyages through the Suez Canal as far as Jeddah Islamic Port in Saudi Arabia as beyond the reach of the militant attacks that have forced the majority of large container ship traffic to divert around the Cape of Good Hope in southern Africa.
Knight-Swift buys 10 more Yellow terminals for $2.2 million as LTL push continues After the latest round of bidding, the largest US truckload operator has now acquired 25 Yellow facilities, bringing it closer to having a nationwide LTL network.
As Gemini dawns, another change in shipping alliances is inevitable: expert Whenever container shipping experiences an upheaval in the alliance structure, the wind-down period from announcement to departure and then to the reforming of new alliances can be bumpy, writes industry veteran Patrick Burgoyne.
European congestion fears allayed thus far as vessel arrivals spread out Terminals in Europe say ocean carrier schedules have been disrupted by the ship diversions around southern Africa, but there is still no sign of the port bottlenecks that were expected when the rerouting began.
Some carriers halt India-Europe westbound bookings amid capacity crunch: forwarders Given the capacity pressures, a potential higher incidence of gated cargo being left behind or rolled over in March could spark serious trade concerns, Indian sources say.
Large LTL providers report strong pricing gains, opportunities Yield and rates are rising at some of the biggest LTL carriers after a strong finish to 2023, though lower fuel surcharges may pull gains down to mid-single digits.
Maersk launches online air freight tool targeted at Indian shippers Maersk's integrator strategy has encompassed more access to air freight capacity, including a new tool for shippers in India to digitally price and book specific flights.
Carnival places first newbuilding order in five years but vows 'measured capacity growth' LNG-fuelled ship will be fourth in cruise major's Excel class
Navios eyes charter or sale opportunities as container ships come open in rising market Angeliki Frangou-led company considers options as Red Sea crisis helps bolster rates
Out with the old as Ardmore scores profit in sale of MR tanker Move by New York-listed shipowner follows purchase of younger ship
MT Maritime linked to profitable sale of 20-year-old chemical tanker Reported sales price shows older MRs are still holding ground since last year's surge
Chesapeake Energy signs up to take LNG from Gunvor's Delfin Midstream production FLNG developer secures another customer for its planned US floaters
First cargo heads in to Greece's new FSRU-based LNG import terminal GasLog LNG carrier due at new facility this week with commissioning volumes
US shipowner MT Maritime linked to profitable chemical tanker sale Reported sales price shows older MRs are still holding ground since last year's surge
VLCC rates rally as market jumps by more than one-third on back of Atlantic strength Ageing tanker gets nearly $70,000 per day as VLCCs rise from the doldrums in past week
Ambitious Arkas Line moves into transatlantic trade Turkish operator enters new markets with partners Turkon and Hapag-Lloyd
Ocean Yield nets $90m debt financing for newcastlemax newbuilding pair Sale and leaseback company sources 'competitive' deal from two new Asian lenders
Subcontractor dies and another injured in 9,000-tonne block fall at South Korean yard Topsides crushes senior managers from foreign company at HD Hyundai Heavy Industries
Qatar inks 25-ship deal with Nakilat in historic newbuild haul World's largest LNG vessel owner enters the fray in phase two of the sector's biggest ever newbuilding project
Drug gangs exploit inter-agency 'mistrust' to infiltrate shipping operations IMO is setting up a training programme to tackle the threat of organised crime at ports
What will it take for Red Sea shipping stability to return? This security expert thinks he knows Charterers have changed their business models, and going back will not be quick, security expert argues
DOF Group finance chief to step down after almost 20 years Head of investor relations Martin Lundberg becomes new CFO
Navios reveals VLCC sale amid rising fourth-quarter profit Diversified Angeliki Frangou company has sold more than two dozen vessels on the secondhand market since 2022
Shipping will need to be sure of stability before Red Sea return, Ambrey's John Thompson says Charterers have changed their business models, and going back will not be quick, security expert argues
Greek shipowner Neda Maritime strikes landmark deal for 2020 Bulkers brace Lykiardopulo family company buys its first newcastlemaxes, which will also be the youngest bulkers in its fleet
Torm cashes in ageing product tanker as values hold firm Danish owner secures about $22m for 2006-built vessel, brokers say
NGO reveals 'pollution and dangerous working conditions' at Turkish yards Despite worrying findings, many recycling yards are still approved by European Union
NRP shipping credit fund inks $6m loan for handysize bulker buy Premium Maritime Credit Fund gives senior secured loan for 33,000-dwt vessel
Stena Bulk snags charters for four product tanker newbuildings with Japanese shipowner Two of the ships are set for delivery in 2025 and two more in 2026
Virgin Voyages cruise ship to avoid Red Sea on return to Europe Company says passengers booked on the cruise will face no additional costs despite longer voyage
Thenamaris pays 'amazing price' to snap up Polaris bulk carrier quartet Chinese-built newcastlemaxes fetch more than $67m each
Clean tanker rates adjust to new normal amid Houthi attacks Increased tonne miles will continue to boost sector amid ongoing Houthi attacks
Surging risks for shipping sparks tie-up between Ambrey and Inchcape Strategic partnership will offer enhanced protection for ships and crews from before fixing to after discharging
Germany's fourth new FSRU incoming with US cargo Energos Infrastructure regas unit due on station at Hanseatic Hub's new Stade facility
Star Bulk adds newbuilding trio and raises cash with sales run Major owner inks three kamsarmaxes in China and brings total ship disposals over the past 12 months to 17 vessels
'Pent-up demand' for shipping IPOs, says Nordic banking giant Nordea also expects consolidation in the sector
Precious Shipping fourth quarter profit slides on weaker freight rates Despite weaker markets, Thai shipowner raised over $160m for newbuildings and refinancings
Shifting trade patterns and geopolitical tensions to buoy smaller bulkers An increase in tonne-miles amid crisis zones is expected to contribute to market stability
Greece's Mega Shipping scraps oldest handymax bulker Mega's Konstantinos will be joined at Chattogram by another handymax owned out of Hong Kong
QatarEnergy stages 12-ship LNG berth grab at Hanwha Ocean But Doha giant's appetite for Q-Max vessels appears insatiable as new talks initiated in China
Great Eastern says asset prices too high for growth investments Indian owner says it will be a 'little slow to make new purchases'
Global trade receding? Tell that to shipbuilders Despite concerns about the impact of international tensions on global trade, shipyards are flooded with orders.
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