Candela P-12 foiling ferry to shuttle hydro power workers across New Zealand lake New Zealand's Meridian Energy is to replace the diesel ferry which shuttles workers across Lake Manapouri to its Manapouri hydro station with a Candela P-12 electric hydrofoil ferry. Lake Manapouri has been
Cargill: Six months trial of WindWings produces predicted fuel savings In its first six months in operation with wind assisted propulsion, the Cargill-chartered bulker Pyxis Ocean has achieved performance consistent with what was predicted, which is equivalent to an average of 3
USTR petition seeks to impose a port fee on Chinese-built ships docking in U.S. ports U.S. Senators Tammy Baldwin (D.-Wis.) and Bob Casey (D.-Pa.) are throwing their weight behind a coalition of U.S. labor organizations led by the United Steelworkers union (USW) that has filed a Section
CMA CGM launches SEA REWARD loyalty programme CMA CGM Group unveiled SEA REWARD today (13 March), an innovative loyalty programme aiming to enhance its customer experiences. Through SEA REWARD, the French shipping company wants to foster stronger relationships with its clientele by offering them exclusive perks and a streamlined digital journey. Operating on a simple principle, SEA REWARD rewards customers based on their shipping frequency.
APM Terminals Pecém marks volume records for 2023/24 fruit harvest season In August 2023, APM Terminals Pecém, the primary operator of the Port of Pecém in the metropolitan area of Fortaleza, Brazil, achieved a milestone by surpassing the mark of 23,000 containers handled within a single month for the first time. This upward trajectory continued, with October and December 2023 witnessing 32,058 and 32,466 moves respectively, marking the first months, in which container
GlobalSim introduces Cloud crane training simulator GlobalSim, an employee-owned company that specializes in developing and manufacturing high-end simulators, introduced the Cloud, the latest entry-level simulator. This innovative product offers a subscription-based model, making simulator training more accessible and cost-effective. The Cloud features 10 diverse crane models, with additional options slated for future inclusion. Accessible online,
CMA CGM revises PSS from North Europe to Med, Adriatic, Black Sea and North Africa In response to recent developments in the region, CMA CGM has announced a revision of its Peak Season Surcharge (PSS) from North Europe to the Mediterranean, Adriatic, Black Sea and North Africa. The updated PSS will take effect from 1 April 2024 (loading date) until further notice. The surcharge applies to shipments originating from North Europe (excluding Portugal and Spain Atlantic), the Unite
Kalmar and Forterra cooperate for autonomous terminal tractor development Kalmar, a part of Cargotec, and Forterra (formerly known as RRAI) have entered a collaborative agreement to develop autonomous solutions for terminal tractors. Under this agreement, Kalmar will lead the development of an automation-ready terminal tractor, incorporating drive-by-wire technology and integrating it with the Kalmar One fleet management system for the streamlined operation of automate
World Shipping Council partners with NCB on liner shipping cargo safety Despite the existence of mandatory international and national regulations governing the transportation of hazardous materials, there persists a concerning trend of these goods being either inaccurately declared or not declared at all, leading to a significant rise in ship fires. Recognizing the need for enhanced safety measures, the World Shipping Council (WSC) is actively developing the Cargo Sa
Maersk reopens Port Sudan bookings Maersk announced that it has resumed its acceptance of new bookings to and from Port Sudan. Due to the situation surrounding the Red Sea, including the Bab al-Mandab Strait, Maersk has only been accepting bookings to/from Port Sudan - Europe, but the Danish shipping company has now reopened bookings acceptance to/from Port Sudan - Middle East, as well as the Asia-Pacific and Africa Regions. "All
Brazil and Netherlands partner for eco-friendly port development The Brazilian Waterborne Transportation Agency (ANTAQ) signed a cooperation agreement with the Netherlands on 5 March, with a major focus on fostering the development of eco-friendly ports within the country. Spanning three years, this initiative, operating under a public-private partnership, seeks to facilitate Dutch companies in their endeavours to export to and invest in Brazil, while also aid
MOL, Rio Tinto forge partnership for maritime decarbonisation On 24 January 2024, Mitsui O.S.K. Lines (MOL) entered into a partnership agreement with Rio Tinto, a major mining and metals firm and the world's largest dry bulk shipper. This agreement aims to strengthen collaboration in safety and crew welfare initiatives and advance the decarbonization of maritime transportation. Furthermore, MOL and Rio Tinto have agreed to deepen their collaboration on ship
ZIM reports US$2.7 billion annual net loss amidst financial downturn Israeli ocean carrier ZIM announced its results for the previous year, following the trend observed across major container lines, according to which the companies' financial figures in 2023 are significantly lower than in 2022. In particular, ZIM's total revenues were US$5.16 billion for the full year of 2023, compared to US$12.56 billion in the previous year, driven primarily by the decrease in
cargo-partner introduces intermodal rail links between Europe and Asia Global transport and logistics provider cargo-partner has introduced innovative intermodal rail transport solutions, connecting Europe with China and several other Asian countries. Presenting a swift, cost-effective, and eco-friendly alternative to traditional air and sea freight, cargo-partner leverages its extensive expertise in Full Container Load (FCL) and Less than Container Load (LCL) rail
Fuel concerns see operators favouring direct boxship orders over long-term charters The dilemma over alternative fuels and financing means that liner operators are more inclined to order newbuildings themselves, rather than turning to tonnage providers. As a result, these non-operating owners' fleets remain lower than pre-Covid-19 days. Tonnage providers have seen net fleet additions for the first time in nearly four years, as newbuilding deliveries finally outpace ship sales, a
KEZAD and Al Masaood Automobiles sign warehousing space deal KEZAD Group, one of the largest operators of integrated and purpose-built economic zones, and Al Masaood Automobiles have recently entered a lease agreement for 12,000 square meters of warehousing space within Phase 5 of the KEZAD Logistics Park. This space will serve as the primary hub for Al Masaood Automobiles' spare parts logistics operations. "We are pleased to welcome a prestigious name lik
Maersk circles DB Schenker as it ponders acquisition Maersk has appointed financial advisors to help the carrier evaluate its freight forwarder target DB Schenker which was put up for sale last year. Danish business daily Borsen reported that Maersk CEO Vincent Clerc has appointed investment bankers to assess and advise the Danish carrier in its quest to buy a major forwarder. Responding to questions, Clerc told Borsen: "When you are investigating
ONE opens new office in Myamar Ocean Network Express (ONE) has announced the grand opening of the company's new office space in Myanmar. The new ONE Myanmar office at Sakura Towers, Bogyoke Aung San Road is located in the city centre of Yangon, which is the largest city in Myanmar. "We have moved to a bigger office premise closer to the city to enable better accessibility for the customers and a more conducive environment for
DP World rolls out global freight forwarding network DP World has inaugurated the latest in a string of more than 100 freight forwarding offices worldwide, which already employ 1,000 staff, adding to the company's 108,000 team. This number is expected to grow significantly over the next 12 months, helping move more than 10% of global trade every year, according to the statement. DP World said in an announcement that the traditional asset-light frei
Cosco Shipping enhances safety measures through Iridium GMDSS implementation Iridium Communications, a major provider of worldwide voice and data satellite communication services, has announced that Cosco Shipping (CSSC), boasting the world's largest fleet of commercial vessels comprising 1,417 ships, has initiated the installation of Iridium® Global Maritime Distress and Safety System (GMDSS) terminals. The recent integration of the Lars Thrane LT-3100S terminal on the v
Greek owners sign up for more suezmaxes Greek appetite for newbuild tanker tonnage remains high, with more orders coming from the suezmax segment. George Economou's Cardiff Marine and Spiros Polemis-controlled Polembros Shipping have both been reported to have contracted two and one 157,000 dwt units in China, respectively. According to brokers in Greece, Cardiff Marine has commissioned Jiangsu New Hantong for scrubber-fitted ...
Island Offshore ships out subsea vessel Norway's Island Offshore has sold its subsea construction vessel Ocean Intervention III after a 17-year charter. The 2005 Kleven-built SCV under contract with Oceaneering since 2007 of which some 12 years in Angola, has gone to an undisclosed buyer. The vessel has already changed hands and will operate outside the African offshore sector, the company ...
Tidewater PSV secures Neptune Energy contract OSV owner Tidewater has clinched a charter deal with Neptune Energy for its platform supply vessel Troms Lyra. The 2013-built unit has been fixed for about four months at £19,500 (approx. $25,000) per day. The contract, set to start April 15, will see the Vard-built ship that Tidewater took over with the acquisition of Troms ...
ADNOC, BP pause $2bn NewMed acquisition talks due to Palestine conflict Discussions regarding an offer made by British energy supermajor BP and UAE's ADNOC to buy a 50% stake in Israel-based gas producer NewMed Energy were suspended due to the escalating Israel-Palestine conflict. Since the conflict began shipping has been affected by attacks from Houthi rebels on vessels in the Red Sea in support of Palestine. ...
Filipino seafarers at the brunt of the Red Sea shipping crisis demand change The Filipino seafaring community is very much in the headlines with survivors of last week's deadly bulk carrier attack in the Gulf of Aden touching down in Manila yesterday and the government vowing to work harder to ensure the crew on a car carrier abducted nearly four months ago by the Houthis are freed. The ...
Ray Car Carriers forks out $520m on four VLCC newbuilds Ray Car Carriers has joined the rush for supertanker tonnage by signing up to build four VLCCs in South Korea. Shipbuilding sources have linked the Israeli owner, best known as a vehicle carrier tonnage provider, to a $520m deal at HD Korea Shipbuilding & Offshore Engineering. The 320,000 dwt ships, costing about $130m each, will ...
Archer bags platform drilling deal in Brazil from Trident Energy Norwegian offshore service provider Archer has won a platform drilling contract with the Brazilian arm of oil and gas player Trident Energy. The contract has an initial estimated value of $20m over two years. The contract includes an additional one-year option and further options at mutual agreement. Archer will provide comprehensive platform drilling services, including ...
Another new Turkish liner heads to Russia A new Turkish liner has unveiled a service connecting with Russia. Istanbul-based ULD Shipping has debuted a new Black Sea feeder that connects Turkey with Novorossiysk, using two chartered-in 634 teu sisterships, according to Alphaliner. While most of the main global carriers have stopped servicing Russia since the start of the war in Ukraine two ...
Nantong Xiangyu wins order for eight methanol-ready ultramaxes Nantong Xiangyu Shipbuilding & Offshore Engineering has signed a construction deal for eight 64,000 dwt methanol-ready bulk carriers with Xiamen Jinxian and COSCO Shipping Bulk. According to the Chinese shipbuilder, the vessels will have a larger load capacity and lower fuel consumption when compared with similar ships at home and abroad as well as being ...
Cape diversions see box shipping EU ETS outlays leap by 191% Persistent missile attacks by Houthi rebels on ships plying the Red Sea route have led to soaring emissions liabilities for shipping companies under the recently introduced emissions trading scheme for shipping created by the European Union (EU ETS) as lengthy voyage diversions for Europe-bound vessels have multiplied fuel consumption, according to Hamburg-based maritime technology firm ...
Shearwater awarded 4D surveys by Equinor Shearwater GeoServices has won contracts to carry out two 4D monitoring projects for Equinor. The work scope covers the Mariner field in the UK North Sea and the Heidrun field in the Norwegian Sea. The surveys should run for two months and will be carried out by the vessel SW Amundsen and an undershoot vessel. ...
Maersk studies possible DB Schenker acquisition After DHL withdrew last week from the battle for one of the largest acquisitions in the global logistics industry, Maersk has hired advisers for a possible giant takeover. According to Danish financial daily Børsen, the world's second-largest containerline is studying buying DB Schenker, which has been put up for sale by parent Deutsche Bahn. Maersk ...
Norway's bad IMO diet plan for shipping: a solution that causes more harm than good Faig Abbasov from the NGO Transport & Environment argues that a proposal under discussion at the International Maritime Organization would seriously undermine efforts to decarbonise global shipping and to make its transition equitable. Imagine that you need to lose weight for medical reasons. Your dietician writes you a strict dietary plan to reduce daily calorie intake ...
Houthi attacks will continue thanks to their robust weapons supply chain Naval operations protecting shipping from Houthi attacks, which are set to increase during Ramadan, are not focused on stemming the...
Somalia piracy resurgence makes kidnap & ransom cover necessary 'You might as well have it, because stuff happens,' lawyer warns
Zim on the hunt for new partners as 2M draws to an end The Red Sea crisis has demonstrated the volatility of container shipping. How long it last will have an impact on...
Vehicle carrier hot streak to be maintained throughout 2024 The year 2025 will be transformational based on an 11.5% net supply growth,' says Veson Nautical vehicle carrier analyst
Stanzel: 2040 IMO targets unattainable without zero-carbon fuels Intertanko chief adamant that 'elusive' zero-carbon fuels are the crucial component for shipping to meet the IMO's 'indicative' emission targets...
ETS share of tanker freight costs set to grow Higher ETS prices and falling tanker freight rates could significantly increase the share of EU carbon tax in spot rates...
CMA CGM offers loyalty programme to spot cargo buyers Rewards programme will allow shippers to earn 'nautical miles' to pay towards invoices. Perks are only open to spot customers...
Cargill prototype proves that wind wings could be a win-win, eventually Capex is still too high for wind technology to be scalable with conventional fuel savings, but for more expensive zero-carbon...
Cosco unit partners with Xiamen Leasing on ultramax newbuilds Deal seems to be the Chinese lessor's first attempt to seriously scale up its shipping portfolio with the support of...
US steelworkers lead push to probe China's Shipbuilding amid security concerns The rise of Chinese shipbuilding over the past decades is part of the broader shift of global manufacturing from West...
Daily Briefing Bangladesh-flagged bulker hijacked off Somalia as resurgent piracy threat escalates | Scale the key for MSC in post-2M era |...
NorthStandard partners with navigational safety start-up Orca AI NorthStandard to incentivise members to use Orca AI's automated watchkeeper platform by subsiding part of their investment. The club envisions...
Zim forecasts a return to profitability this year after $2.7 billion 2023 loss The Israel-based carrier is expecting a significantly improved 2024 driven by a larger and more efficient fleet, new services and double-digit growth in volumes.
US manufacturing, consumer goods spurring growth in truck shipments The Cass Freight Index saw a 7.3% increase in shipment volumes in February from January amid warmer-than-normal weather and as the US manufacturing and services sectors expanded.
Lofty reliability goals for Gemini alliance hang on key service assumptions The ability of Maersk and Hapag-Lloyd to achieve unprecedented levels of on-time performance rests on core assumptions, among them their control of transshipment ports, consistently high levels of productivity at those ports and a reduction in the number of origin and destination ports.
Softer export demand, steady capacity send India-Europe ocean rates sharply lower Carrier rates for loads from West India to Europe and the Mediterranean have slid by double-digit percentages in the last week or so as trade flows settle into the new normal journey around southern Africa.
MSC executive is confident that methane slip on ships will be tackled. The problem is upstream LNG does not have 'much of a future' as a fuel on ships if supply chain methane emissions are not solved
Free-spending German shipowners grow national fleet for first time in over a decade Ten years of decline is reversed as German shipowners return to secondhand and newbuilding markets
'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 vessels are fiercely fought over
HMM's $5bn sale off the menu for now, South Korean minister says Government has no plans to try again with privatisation of container ship and VLCC group
How a universal greenhouse gas price for shipping could future-proof global trade IMO delegates should seize the opportunity next week at the 81st session of the Marine Environment Protection Committee
Zim warns rates could fall to earth if Red Sea transits resume President Eli Glickman says earnings guidance is based on conservative assessment of the market
Why Viasat's Ben Palmer is ready to battle with Elon Musk-backed Starlink Inmarsat takeover completed and satellite launches planned, service provider Viasat says it is ready to face all comers in the maritime market
Tom Fulford-Smith insurance start-up seeks to marry best of Scandinavian model and London approach Famous broker's son wants to develop a diverse and innovative London-based insurance platform for shipowners
All eyes on outlook after Zim burns cash in loss-making 2023 Israeli shipping company yet to reap the windfall from Red Sea crisis
Armed guards would have saved bulker from pirates, say security experts Ambrey Analytics said video footage did not reveal any other deterrents to attack in Indian Ocean
Red Sea crisis offers 'temporary relief' to container shipping giants Fitch: container rate hikes far exceeding costs of re-routing around Suez
Mercuria's former head of chartering Andy Fryatt dies aged 74 Industry veteran chose shipping ahead of golf - and retired reluctantly aged 72
Pioneer Tanker splashes $260m on up to eight ships in newbuilding debut Singapore-registered company previously grew its fleet by acquiring tankers ordered or owned by Xihe Holdings
$5bn sale of HMM off the menu for now, South Korean minister say Government has no plans to try again with privatisation of container ship and VLCC group
Hunter has firepower to add VLCCs as charter gamble paying off Norwegian group's earnings expected to rise as fleet grows
Xiamen Financial Leasing orders eight ultramaxes against Cosco Shipping Bulk charter Chinese leasing newcomer jumps into newbuilding game with methanol-ready octet
Greek war ship joins anti-Houthi action, downing drones off Yemen Hellenic Navy starts taking active part in the western coalition forces protecting navigation in key waterway
Hijacked bulker officer: 'If pirates are not paid, they are ordered to kill us one by one' Crew members phoned families warning they would be killed if ransom not paid
Cargill sees big 'real world' wind power savings, business case tenuous Commodities trading giant claims success with six-month trial of WindWings, but admits economics do not yet quite add up
Ardmore CEO Tony Gurnee reaps reward of share price rises in $2m sale Tanker owner's chief executive sells slice of company acquired in 2021
Return of Somali piracy opens up a second front in the war on shipping Bulker hijacking sparks fears piracy is back in the Gulf of Aden and Indian Ocean
Eyal Ofer's Zodiac Maritime fetches stellar price for veteran car carrier Shipowner has profited from a hot market to offload a 30-year-old vessel
US steel unions want probe into Chinese commercial shipbuilding Union claims more than 70,000 jobs have been lost by the disappearance of US commercial yards
Xiamen Financial Leasing orders eight ultramax bulkers against Cosco Shipping Bulk charter Chinese leasing newcomer jumps into newbuilding game with methanol-ready octet
Libra Group-subsidiary Seapath enters Jones Act leasing business Logothetis family outfit is targeting $100m of Jones Act-compliant transport this year
Time to sell OOIL shares following Red Sea rally, says analyst Investors advised to switch to Cosco Shipping Holdings, which has a stronger and more diversified business profile
Power struggle within FedEx pilots union upsets contract talks Bad blood between factions in the FedEx pilots' union is making it difficult to present a unified position in collective bargaining with the company. Some hard-liners are turning against leadership and pushing for a strike to get better terms.
Is China spying on American ports? ZPMC's cranes appear to be part of a global digital surveillance effort on the part of the Chinese.
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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