VIDEO: Explosive cuts part demolish Key Bridge Using precision explosive cuts, the Key Bridge Unified Command today demolished part of the Francis Scott Key Bridge that had been pinning down the bow of the Dali, the containership whose strike
Bollinger to build two more Coast Guard Sentinel Class FRCs The U.S. Coast Guard has exercised a contract option to award Bollinger Shipyards two additional Sentinel-Class Fast Response Cutters (FRCs). This announcement brings the total number of FRCs awarded to Bollinger up
VIDEO: ECO Edison christened in New Orleans America's offshore wind energy supply chain marked a major milestone Saturday, when ECO Edison, the first-ever American-built, owned, and crewed offshore wind service operations vessel (SOV), was christened in the Port of
ACL, BG Freight Line and Peel Ports launch fastest ever container service between Ireland and North America Shipping company ACL has announced a new container service, in partnership with BG Freight Line and Peel Ports Group, connecting Ireland and North America via a UK or Continental transshipment port. The service, which officially commenced on 10 May in New York, is claimed to have transit times up to two weeks faster than any other similar service. The partnership will offer importers and exporter
Hapag-Lloyd boxship delivered with LNG tank designed by Hanwha Ocean Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) has delivered the first very large container ship equipped with a manganese-based LNG tank co-designed by the South Korean ship builder. The 24,000 TEU ship, Singapore Express, is one of a dozen vessels being built for German mainline operator Hapag-Lloyd. The LNG tank, called MacTiv, is manufactured mainly with high manganese steel
APMT's West Africa Container Terminal replaces diesel generation with solar electricity Nigeria's West Africa Container Terminal (WACT) has signed a significant Solar Lease Agreement with Starsight Energy, to provide an expected 1.2-Gigawatt hours of solar electricity each year over a 15-year period. This will see 30% of the Terminals' electricity switch from Diesel generators to renewable sources in 2024, according to APM Terminals' announcement. APM Terminals, which owns and opera
COSCO SHIPPING establishes new warehouse in Los Angeles COSCO SHIPPING officially launched its self-operated fulfillment warehouse in the United States. The Chinese company said this expansion of its global warehousing network represents a crucial step towards enhancing its ability to meet the increasing logistics needs of cross-border business and establishing a comprehensive logistics solution tailored for cross-border e-commerce customers. Spanning
GRIs fuel container spot prices, reverse the "post-Chinese New Year rate correction" The Drewry World Container Index (WCI) reported a 16% increase touching US$3,159 stemming an 11-week phase of decline and stability, led primarily by the Gross Rate Increases from carriers. The primary resurgence was led by rates from Asia- Europe which clocked an upside of 20% ending at US$3,709. This was further supported by rates from Asia-Mediterranean and Asia to the US. While Shanghai-Genoa
Maersk applies updated peak season surcharges from Far East Asia Danish container line Maersk has announced new and updated peak season surcharges from Far East Asia ports. Maersk is implementing the Peak Season Surcharge (PSS) for the scope East China, South China, Hong Kong, Japan, Thailand, Malaysia, Singapore, Indonesia, Philippines, Brunei, Myanmar (Burma) and Cambodia to Pakistan, Jawaharlal Nehru, Mundra and Pipavav on 15 May for non-regulated and for V
Mærsk Mc-Kinney Møller Center finds new academic partners The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping introduced a new partnership category and announced four new Academic Partners: University of Michigan, Maritime Research Alliance, Norwegian University of Science and Technology and World Maritime University. The introduction of Academic Partners marks a strategic expansion of the Center's partnership platform and is strengthening the co
ICTSI to build US$800 million, 2 million TEU container terminal Global port and terminal operator International Container Terminal Services Inc. (ICTSI) is building a new international container terminal in Bauan, Batangas, Philippines. The new terminal will be the largest privately funded marine terminal investment in the country's history and will be the second-largest container facility after ICTSI's flagship Manila International Container Terminal (MICT)
Go Shipping supports the Hellenic Olympic Team Greek freight forwarding company Go Shipping has announced its sponsorship of the Hellenic Olympic Committee (HOC). Through this partnership, Go Shipping becomes an official supporter of the Hellenic Olympic Team, reinforcing its commitment to promoting excellence and the spirit of Olympism. According to the joint statement, the cooperation between Go Shipping and the Hellenic Olympic Committee u
CMA CGM commences new service connecting India West Coast with Middle East CMA CGM has announced the launch of a new weekly service, VGI connecting Laem Chabang, Vung Tau and Jakarta with the India West Coast and Middle East. VGI service offers two loops and competitive transit times to serve the import and export growth of Southeast Asian markets. "Customers will be able to enjoy greater access to the core markets of Middle East via direct calls to Jebel Ali and Dammam
Pan Ocean lines up more MR tanker newbuilds South Korean owner Pan Ocean is bolstering its tanker orderbook with two MRs at an unnamed shipyard. The Harim Group-controlled diversified owner of more than 100 ships said in a stock exchange filing it would be paying around $49m per unit with deliveries expected by April 2028. Last month, Pan Ocean booked four scrubber-fitted 50,000 ...
Siem Offshore changes name to Sea1 Offshore following Kristian Siem exit Norwegian offshore vessel operator Siem Offshore has officially changed its name to Sea1 Offshore and was registered in the Cayman Islands Registrar of Companies. The name change was effective as of the annual general meeting's approval on May 7, 2024. This change also reflects the sale of nine vessels to Siem Sustainable Energy and related ...
Maris Fiducia finds partners for hydrogen-powered dry bulk vessel construction Shipping company Maris Fiducia Norway has entered into cooperation agreements with maritime technology company HAV Hydrogen and hydrogen producer Norwegian Hydrogen for developing, building, and operating hydrogen-powered dry bulk vessels in Europe. The vessels are designed by Dutch ship designer Ankerbeer. Upon successful realization of the project, the vessels will go on hire through a ...
The intricacies of minor bulks analysed at Geneva Dry Minor bulks might account for 40% of dry bulk seaborne movements, but thanks to their massive fragmentation they receive "frustratingly" less coverage than the likes of coal and iron ore. Fragmentation, larger ships, and altered cycles formed much of the debate during the minor bulks session at Geneva Dry held at the President Hotel Wilson ...
Tianjin Southwest Maritime orders LPG/ammonia carriers Chinese owner Tianjin Southwest Maritime has contracted a pair of 25,000 cu m gas carriers capable of transporting LPG and ammonia at CSSC-affiliated Huangpu Wenchong Shipbuilding. The newbuilds will feature ammonia dual-fuel capability and be delivered in the fourth quarter of 2026 and the second quarter of 2027. No price has been revealed. Tianjin Southwest ...
Junzheng swells chemical tanker orderbook Chinese chemical enterprise Junzheng Group has revealed another series of stainless steel newbuilds at a domestic yard as part of its fleet renewal programme. The Shanghai-listed group disclosed in a regulatory filing that its Dubai-registered shipping arm, SC International, and Hong Kong-based JZ Logistics Holding had ordered up to 10 ships at Wuchang Shipbuilding. The ...
Cyan Renewables to strengthen vessel capacity of South Korea's offshore wind sector Singapore-based offshore wind vessel pure-play Cyan Renewables has entered into a memorandum of understanding (MOU) with Hyundai Asset Management to facilitate strategic investment in South Korea's offshore wind supply chain. South Korea has set ambitious targets for renewable energy expansion, including a significant increase in offshore wind capacity to 14.3GW by 2030, to achieve carbon ...
Cadeler continues foray into Polish offshore wind sector Denmark-based Cadeler has sealed a vessel reservation deal for work on Polish offshore wind farms Baltyk II and Baltyk III. The BW Group and Scorpio-backed shipowner said the aggregate potential value of the contracts is expected to be between €110m and €130m ($118.5m and $140m). The bottom-fixed wind farms, developed by the joint venture of ...
Vard lands Taiwanese CSOV deal An undisclosed Taiwanese company has tapped Norwegian builder Vard for two commissioning service operation vessels. The yard, part of Italian shipbuilding giant Fincantieri, said the newbuilds would be of its new Vard 4 39 design, envisioned as an all-round platform for windfarm support operations with fuel efficient CSOV operation and future integration of a modular ...
Costamare grows cape fleet Greek owner Costamare has continued its focus on larger tonnage in the dry bulk sector by adding two secondhand capes. The New York-listed company confirmed Splash reports it had picked up the 2012-built 181,415 dwt Frontier Unity and also revealed buying the 179,895 dwt Lowlands Prosperity and taking its capesize fleet to five vessels with ...
Hanwha buys Keppel's stake in Dyna-Mac South Korean conglomerate Hanwha Group has acquired Keppel's entire holding in Singapore-based fabricator Dyna-Mac for S$100m ($73.8m). The deal will see Hanwha subsidiaries Hanwha Ocean, the yard formerly known as Daewoo Shipbuilding & Marine Engineering, take a 21.52% stake in Dyna-Mac, while Hanwha Aerospace will own 2.39%. Dyna-Mac is a well-known maker of FPSO, FSO ...
Shipyard output hits seven-year high After a decade of declining output, shipyard production has begun to edge up in recent years with deliveries in Q1 reaching a seven-year quarterly high of 10.1m cgt, according to new data from Clarksons Research. Clarksons is projecting a 15% increase in shipyard output for full year 2024 to 40.6m cgt. "With increased pricing (up ...
Norden makes plenty of cape plays Norden has flipped its first cape after entering the segment in March last year while quietly adding its first two 209,000 dwt newcastlemaxes. Broking sources tell Splash that the Danish mammoth has sold the scrubber-fitted Nord Ferrum, a 180,000 dwt workhorse built in 2011, for $34m. No taker has been revealed. The bulker was added as ...
Subsea 7 and SLB alliance wins more work off Turkey Subsea Integration Alliance, a non-incorporated tie-up between Subsea 7 and SLB's OneSubsea has secured a new contract from Turkish Petroleum for work on the Sakarya field development in the Black Sea. The contract worth up to $500m involves the installation of Turkey's first floating production unit. It follows an initial engineering, procurement, construction and installation ...
TS Lines linked to Shanghai boxship orders Brokers are linking Taiwan's TS Lines to a letter of intent with Shanghai Waigaoqiao Shipbuilding (SWS) for two 14,000 teu ships and two 8,000 teu vessels. The order comes with options for two more of each ship type with brokers suggesting the prices are $145m per unit for the larger ships and $89m for the ...
ICTSI to build 2m teu terminal on home soil Manila-headquartered International Container Terminal Services Inc (ICTSI) has outlined its next port development. The company will build an $800m terminal with over 2m teu capacity in Bauan, Batangas to the south of Manila on the island of Luzon. The facility will include a 900 m quay and at least eight ship-to-shore gantry cranes. Construction will ...
Ships of up to 10,000 dwt now able to reach Chongqing Ships of up to 10,000 dwt are now able to reach the world's largest municipality. Last week saw the Innovation 5, carrying more than 5,000 tonnes of soy beans, dock at Jiangjin Luohuang Port in southwest China's Chongqing municipality, becoming the first 10,000 dwt class vessel to travel in the upper reaches of the Yangtze, ...
As shipping stocks soar, controlling shareholders reap the rewards Shipping stocks have rallied to new highs in recent days, but longer-term gains are even more impressive. Over the past...
Baltimore channel reopening remains on track as salvors detonate bridge truss Salvors successfully used explosive charges to remove parts of the bridge's wreckage from the 9,900 teu Dali, a significant step...
Emissions reporting driving Starlink uptake, says Seaspan The need to automate emissions-reporting in the future has led one owner/operator to install Elon Musk's broadband system across its...
FuelEU regulation set for 'chaotic birth', lawyers warn Watch out for changes to stipulations, including increase of 80% target to net zero, as well as global implementation of...
Containership charter rates still rising as port congestion begins to bite Operators are having to pay significant premiums for short-term charters as tonnage providers hold the upper hand
The week in newbuildings: SC Shipping boosts chemical tanker orderbook Chinese chemical tanker operator SC Shipping has confirmed a second order for 25,900 dwt stainless steel ships, after signing up...
Week in charts: Containerised trade prolongs rally | Attempted piracy attack reported | Panama Canal rebound continues Global container volumes extend their upward trajectory in March, a product tanker was the target of an attempted piracy attack...
Yang Ming returns to profit in Q1, cautious for 2024 amid improved economic outlook Yang Ming remains cautious of oversupply and geopolitical tensions
Daily Briefing US-sanctioned Hennesea tankers turn to fake flag of Eswatini | Türkiye to lose major seaborne trade partner with Israel ban...
BC port foreman contract talks stall as government delays rail strike threat Maritime employers along Canada's West Coast have filed a complaint asking the federal government to further intervene in stalled talks with the union representing longshore foremen.
US shippers 'sensitive' to overstocking inventories: BlueGrace Logistics Increased negative sentiment toward inventory growth among surveyed shippers points to "no-build-and-hold" leaner inventory strategies that would dull freight demand.
ILA, local ports wrapping up contracts, setting up coastwide talks The International Longshoremen's Association and its maritime employers are highlighting amicable outcomes to previous contract talks as they get ready to restart coastwide negotiations.
MPV rates rising as diversions, increasing demand tighten vessel supply Time charter equivalents and forward bookings are increasing as project-related demand strengthens and carriers continue to reroute voyages away from the Red Sea.
FMC clarifies language around ocean carrier-drayage provider billing Two weeks before new rules around detention and demurrage billing go into effect, the US Federal Maritime Commission has told ocean carriers that contracts independent of a "through bill of lading" fall outside its jurisdiction.
Record newbuilding deliveries fail to dent surging container freight rates Lines make hay by taking delivery of newbuildings as fast as possible
Product tanker rates strengthen as refinery maintenance season wears on Higher refinery throughput means higher rates, Clarksons says
'Decade of pain' ending as smaller shipyard sector ramps up output LNG carriers and boxships still dominating, but some 'pivoting' towards tankers expected later this decade
Cyan Renewables brings in Hyundai Asset Management to invest in newbuildings Singapore offshore wind farm vessel company teams with asset manager on growing South Korean business
Yasa aframax tanker secures ExxonMobil charter after sanctions lifted Yasa Golden Bosphorus had no work for more than six months after US oil price cap action
In pictures: Shipowners open up on geopolitics, disruption and Donald Trump Big names navigate global volatility at TradeWinds Shipowners Forum held in Singapore
Inflation is key to understanding 'paradoxical' VLCC asset values, says shipbroker Gibson Conventional wisdom suggests secondhand market should be overheating, but this may not be the case, UK shop argues
Soren Huscher steps down as head of Norden Tanker Pools after two decades Departure marks the second senior member of commercial staff to leave Danish company in just over a month
Tanker avoids angry charterer's arrest attempt by hitting the beach at Alang Indian court ruling determines that a ship is no longer a ship once it has been beached for recycling
Shanghai Junzheng Shipping doubles down on chemical tankers with 10 more ships Company signs five-plus-five order contract for 25,900-dwt stainless steel vessels at Wuchang Shipbuilding
Sveaas buy-out: Goodbye Siem Offshore, hello Sea1 Offshore Kristian Siem's former company will also change its Oslo stock exchange ticker
Shipbuilding giant launches $289m counterclaim against gas importer for faulty LNG tank system While axe hangs over future of two six-year-old, unused and now idled LNG carriers
Norden flips capesize for tidy profit after just one year Bulker was among the first units to join rebooted cape fleet
Scorpio Tankers' free cash flow could hit $1bn as market value set to rise Clarksons Securities issues positive update on product tanker giant
The dark fleet's underwriter: Fund chief calls for extra heat on rogue flag states Gaute Sivertsen warns of growing risks from shadow fleet tankers with inadequate insurance
'The best is yet to come' for Odfjell as Red Sea crisis tightens firm chemical tanker market Shares rise after broker hikes target price to $21
Yasa aframax tanker secures ExxonMobil charter after sanctions lifted Yasa Golden Bosphorus had no work for more than six months after US oil price cap action
Hunter Group lost $6,500 per day from chartered VLCCs in April Oslo-listed investor loses out in volatile VLCC markets
Pan Ocean adds two more MR tanker newbuilding orders Latest orders are cheaper than April's splash at Hyundai Mipo Dockyard
Tanker tycoon Lim Oon Kuin found guilty of $112m HSBC fraud Cheating and forgery trial takes care of three of the 130 criminal charges the Hin Leong founder faces
Christen Sveaas' Kistefos hires banks for $46m bond sale Investment firm mandated ABG, Arctic and DNB to tap senior unsecured 2027 bond
What next for Clarksons bosses trapped in their very own 'Groundhog Day' pay rebellion? TradeWinds looks at how the issue of pay for its top two executives has dogged the London-listed shop for eight years
John Fredriksen: Tanker market beginning 'multi-year recovery' Tycoon also reveals his thoughts on consolidation and diversification as he turns 80
Cadeler lines up charters worth up to €130m with Equinor venture in Poland Vessel reservation deals signed for Baltic Sea projects
Dynacom sells suezmax to fledgling product tanker player GES The 150,000-dwt Demetrios (built 2011) becomes the first crude carrier in the fleet of Grace Energy Shipping
Belships CEO: Takeover talk is just a sign 'we're doing something right' Chief executive tells TradeWinds that some vessel sales are in the pipeline
Tanker avoids angry charterer's arrest attempt by hitting the beach at Alang Indian court ruling determines that a ship is no longer a ship once it has been beached for recycling
Surge in chartering revenue helps Marco Polo Marine double first-half profit Shipyard segment's revenue declined because of lower ship repair volume
Shanghai Junzheng Shipping doubles down stainless steel chemical tankers with 10 more orders Company signs five-plus-five order contract for 25,900-dwt stainless steel chemical tankers at Wuchang Shipbuilding
VLCCs likely to benefit from declining Mexican exports, says Poten US refiners may have to look further afield for replacement supply as regional options dry up
SK Shipping sells 30-year-old steamship in first LNG scrap sale of 2024 Has starting gun been fired on older ship sales as another small-scale steamer floated for demolition offers?
In pictures: Agility in the face of adversity: Shipowners open up on geopolitics, disruption and Donald Trump Big names navigate global volatility at TradeWinds shipowners forum held in Singapore
EU guides ships further out in Indian Ocean after long-distance Houthi strike European naval operation recommends vessels sail 150 nautical miles further east to avoid Yemeni drones
EU navy hands over Somali piracy suspects to Seychelles justice Group of six Somalis had failed to board Singapore-managed tanker on Friday
Ocean carrier cocktail leaving a sour taste in shippers' mouths Blank sailings are a major factor in maritime shipping and are increasing after ocean carriers gorged on higher Red Sea rates while they could thanks to added capacity. With capacity now cut, rates are rising again.
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