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APRIL 15, 2024

Focus on modernising, mechanising & digitising operations has led to all-time high total volume for Major Ports in FY2024: Ministry Dr N. Vinodkumar given additional charge as Chairperson of Deendayal Port Authority World merchandise trade seen recovering in 2024 & 2025 Surveys indicate macroeconomic sentiments improving Resolve legacy adjudication cases: CBIC TVS ILP invests INR 125 cr. into upcoming state-of-the-art warehousing facility in Cuttack UNCTAD rebrands to "UN Trade & Development" JNPA and PFC discuss financing for Vadhvan Port Paradip Multipurpose Clean Cargo Terminal creates new discharge record COSCO SHIPPING Lines introduces traceable and verifiable green certificates with GSBN, empowered by blockchain technology Return of Somali piracy causing concern DGTR recommends anti-dumping duty on sodium cyanide from China, EU, Japan, Korea Baltic Exchange Market Report (12 April 2024) Key facilities come together for project to digitally connect the maritime and inland port community DFCCIL talking to e-commerce, logistics firms for cargo transportation OOCL's Q1 2024 operational update

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APRIL 15, 2024

United Cargo cuts the ribbon on new EWR facility Digital trade solutions on show in Côte d'Ivoire Eurotranspharma expands in Europe GW gets the green light in Austria Tiaca welcomes six new members Getlink acquires Channel Ports Rates continue to rise despite holiday periods Data flow trial kicks off Decades of experience join TGP Growing in the Romanian market More security and more funding Seafarers' welfare in the spotlight "Curiosity of the Day" New all-cargo air route links Hangzhou with Miami DHL lands new contract in Europe A long and fulfilling career with Meachers Benefits for customers, employees and drivers International deal revamps Brazilian port

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APRIL 12, 2024

'Slow season' and ocean network stabilisation easing pressure on rates Adjustors sharpen their pencils on rumours that Dali owner has called General Average Vehicle imports clogging up terminals at European auto ports Kuehne + Nagel reshuffles the suits - leaks, views, sights Soaring air freight rates may level out as summer capacity takes off DVZ radar: DHL Express awaits the next e-commerce star China acts to improve reliability of block trains bound for Europe Sniping starts as battle for control of Norfolk Southern Railway heats up US splashes out to grab a slice of the semiconductor manufacturing pie Ammonia, not methanol, will be the 'green fuel of the future'

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APRIL 12, 2024

Ukraine's two new minehunters prepare for multi-national exercises Two Ukrainian minehunter ships, recently transferred from the U.K. Royal Navy to Ukraine's navy, have arrived in Portsmouth, England ahead of a series of multi-national naval exercises. The arrival of the ships, VIDEO: Key Bridge response, what's new? As the Key Bridge response Unified Command continues efforts to reopen access to the Port of Baltimore, the NTSB continues its investigation into what went wrong on board the containership Dali before

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APRIL 12, 2024

NYK pioneers truck-to-ship fuel ammonia bunkering At the Sea Japan 2024 event, NYK announced its plans to supply fuel ammonia at the end of May to an upcoming NYK-owned ammonia-fueled tugboat ("A-tug") slated for completion in June. This milestone was celebrated during a ceremony held on 10 April at the booth of the "GI Foundation for the Development of Ships with Domestic Ammonia-Fueled Engines," with attendees including Yuichiro Kato, head of Vitesco Technologies and DHL form strategic partnership Vitesco Technologies established a strategic partnership with DHL Supply Chain, where DHL serves as the Lead Logistics Partner (LLP). Commencing in March, DHL will centrally manage the logistics operations of Vitesco Technologies' twelve European locations from the LLP Center of Excellence based in Warsaw, Poland. This partnership entails overseeing approximately 100,000 transport movements withi Gebrüder Weiss establishes central IT and logistics hub near Austria's freight terminal Gebrüder Weiss, a globally operating full-service logistics provider, is setting up a central location for IT and logistics near Wolfurt's freight terminal, ensuring the retention of local employment opportunities. The municipality of Wolfurt in Vorarlberg, Austria, has approved the commencement of construction for Gebrüder Weiss' IT and logistics centre at the Wolfurt industrial park. This decis Maersk restructures Europe-West Africa service network Danish ocean carrier Maersk has announced changes in its Europe-West Africa service network, which will take effect from the 17th week of the year. The company said that the WAF7 and WAF13 services will be merged and will be extended to Coega in South Africa aiming to meet the seasonal market demand in the country, while the WAF2 service will be upgraded and extended to Freetown in Sierra Leone. Carriers spot bargaining room for India-Middle East cargo as Red Sea gains fade India-Persian Gulf trades seem to be a glaring exception for container lines, as they are rapidly losing the pricing steam they have had from the Red Sea crisis on the larger trade lanes. Most mainline carriers have announced rate hikes in the form of general rate increases (GRIs) and peak season surcharges (PSSs) for shipments from India to various Middle East ports, from next week. CMA CGM will OOCL's revenues fall despite container volume uptick In the first quarter of 2024, the total revenues of Orient Overseas Container Line (OOCL) decreased by 9% year-over-year to US$2 billion. At the same time, the carrier's total liftings increased by 3.4% to 1.8 million TEUs, with the loadable capacity also showing a growth of 2.2%. Additionally. the overall load factor experienced a 0.9% increase compared to the same period in 2023. OOCL said the Wan Hai Lines names new boxships Taiwan's container carrier Wan Hai Lines held ship naming ceremonies for its new container ships, Wan Hai 372 and Wan Hai 376. The two vessels are in the series of 3,055 TEU boxships built by Japan Marine United Corporation ARIAKE Shipyard. TSENG, LING-LIN, spouse of Steve Chang, Executive Vice President Commercial Department of Oriental Petrochemical (Taiwan) Co., Ltd. and YINGYING CHENG, spouse Port NOLA secures 10-year lease agreement with The Kearney Companies Port of New Orleans (Port NOLA) has announced a new 10-year lease agreement with The Kearney Companies, a subsidiary of Precision Terminal Logistics (PTL), solidifying their longstanding partnership. This agreement represents a significant step forward in the collaboration between Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB), which provides vital rail services South Korea's Busan Port boosts container capacity with new automated terminal South Korea's Busan New Port has launched a seventh container terminal extending its box capacity. The terminal's opening ceremony was held on 5 April and was attended by South Korea's President Yoon Suk Yeol, who lauded the facility as a milestone in turning Busan Port into a world-class smart port and hub for global logistics. The new facility is the first fully automated terminal in the countr Riga leads European port collaboration The Port of Riga has taken the initiative as a founding member of the Association of Four Sea Ports by endorsing a collective commitment with Cartagena in Spain, Trieste and Monfalcone in Italy, and ports along the North Sea in Belgium and the Netherlands. The shared objective of this declaration is to bolster port operations in sustainability, energy efficiency, digitalization, and European tran

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APRIL 12, 2024

Greenpeace targets vessel accused of fuelling Russia's shadow fleet Friday morning saw activists from Greenpeace Nordic launch a protest against a bunker vessel accused of fuelling the Russian so-called shadow fleet in open seas off the Swedish island, Gotland. The activists approached the vessel in two ribs and painted Oil is war - People want peace on the side. "The 125 metre long bunker ... JERA to perform first-ever truck-to-ship bunkering of fuel ammonia Japan's largest utility JERA has decided to implement truck-to-ship bunkering of ammonia to an ammonia-fuelled tugboat owned by NYK Line. JERA has concluded a joint study agreement with NYK and Resonac aimed at achieving the world's first bunkering of ammonia to ships. The Japanese company has now opted to supply ammonia to the A-Tug by ... Jinhui turns to charter market in latest fleet boost Chinese bulker operator Jinhui Shipping and Transportation is expanding its fleet with its first long-term charter-in deal this year. The Oslo- and Hong Kong-listed company, better known for its secondhand sale and purchase activities, has contracted a 2016-built ultramax named Pacific Lilly for at least 22 months from the Singapore-based unit of Chinese enterprise Zhejiang ... Beijing unveils coal reserves plan The National Development and Reform Commission (NDRC) in Beijing has unveiled a domestic coal production reserve system that will commence from 2027. The system would ensure an emergency 300m tons of annual coal production could be dispatched across the nation when needed from 2030. Three years ago at a time when the country was hit ... PaxOcean to build first electric vessels for Kuok-led alliance The Kuok Maritime Group-led Coastal Sustainability Alliance (CSA) has announced the start of construction of the first fully electric PXO tug and supply boat by PaxOcean Group. These zero-emissions vessels are among the first and largest local electric harbour craft designed for operation in Singapore's coastal waters. They are targeted for deployment in 2025, ahead ... Subsea 7 lands Gulf of Mexico contract Oslo-listed Subsea 7 has landed a contract worth between $50m and $150m with Talos Energy for the Sunspear development in the Gulf of Mexico. The project in Green Canyon Block 78 involves the subsea tieback of one production well at Sunspear to the Prince platform, 12 km to the north. Under the contract, Subsea 7 ... Insurance pay-outs from Baltimore bridge disaster in the spotlight Cargo insurer WK Webster is reporting that general average looks to have been declared by the owners of the wrecked Dali containership which destroyed Baltimore's largest bridge and crippled the city's port operations last month. General average means all parties involved with the cargo will have to share in the cost of the salvage operations. ... Atlantic Oceanic puts fresh MPSV acquisition to work Offshore vessel owner Atlantic Oceanic has chartered out its recently acquired multipurpose supply unit. The 1991-built Atlantic Spirit has been fixed for four years to Connecticut-based ThayerMahan for offshore wind-related work in Asia. The US outfit with eight European and Jones Act-compliant offshore vessels, picked up the vessel as Tek-Ocean Spirit from Melbourne-based Tek-Ocean Energy ... CY Shipping and BigLift Shipping order two ships in China Partners CY Shipping and BigLift Shipping have increased their fleet of heavylift vessels to six vessels, by adding two ships at Jing Jiang Nanyang Shipbuilding in China. The first vessel, owned by CY Shipping, will be delivered in Q4 2025 and the second vessel, owned by BigLift Shipping, in Q2 2026. The 180 m long ...

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APRIL 12, 2024

General average declared in Baltimore bridge collapse Singapore-based Grace Ocean has declared a general average, a source told Lloyd's List on Friday. The move means shippers with... Red Sea crisis propels OOCL first-quarter revenue Results come as Red Sea blockade helped to absorb substantial available box shipping capacity, thereby shoring up freight markets IMB report shows Somali piracy spike Piracy levels in the Gulf of Guinea continue to decline, while 'opportunistic' crime in the Singapore Strait could have unintended... As tanker stocks rise, Frontline savours new high and Euronav is left out of the party Most tanker stocks are up double digits year to date, led by Frontline, climbing 23%. And then there is Euronav... Panama Canal: It never pours but it rains Reduced capacity could soon be the new normal for at least three years in every decade China-run Hambantota port starts box business Move expected to ease congestion at compatriot Colombo, which is widely used by major carriers to connect European cargo to... Tanker tonne-miles at record levels in 2024, says IEA Positive demand signals for tankers sees global oil demand trimmed by Paris-based energy agency to 103.2m barrels per day in... Main lane rates dip again as shippers look to contracts With only weeks to go before the May contracts start on the transpacific, indications are that carriers will reach break-even... IMO supports cargo screening to tackle illegal wildlife trade IMO adopts resolution to recommend cargo screening measures to help identify criminal trades BigLift and CY Shipping expand partnership with heavy transport vessel newbuilding contract Spliethoff subsidiary BigLift and South Korea's CY Shipping are expanding their four-vessel joint venture with an order for one vessel... Denmark bans scrubber discharge in its waters Open-loop scrubber discharge will be banned from July 2025 with closed-loop following in 2029 Guangzhou port general manager resigns amid management shake-up Former chairman Li Yibo resigned in the past week and is reportedly under investigation by China's anti-graft authority US senators rally behind labour groups urging China shipbuilding probe Six US senators urged the USTR to open a Section 301 investigation and consider proposed relief measures, backing the petition... Daily Briefing Panama Canal finally begins to rebound after drought-driven dive | Coalition calls for greater transparency on methane slip data in...

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APRIL 12, 2024

Roadrunner expands in Atlanta with overhaul of former Yellow terminal A rebuilt facility with 75 dock doors and parking for 300 trailers will anchor Roadrunner's network in the Southeast as the less-than-truckload carrier expands. US truckload exits slowing, LTL pricing 'normalizing' in second quarter Improving economic indicators are drawing small carriers back to trucking, while the LTL market continues settling post-Yellow, analysts told a Journal of Commerce webcast. MPV indices inch higher as global disruptions tighten vessel supply Toepfer Transport says improving demand and the ongoing threat to shipping caused by the Houthi militant attacks in the Red Sea region have boosted fleet utilization. Boost in US demand pushes trans-Atlantic Q1 volumes to pre-pandemic levels Firm growth in imports from Europe in the first quarter has lifted rates to more sustainable levels for carriers as the trans-Atlantic trade lane appears to have finally turned the page on a dismal 2023. OOCL's first-quarter volume gains offset by falling rates Ocean carriers have yet to report their Q1 financial results, but the operational update by OOCL is a clear indication that the global supply-demand imbalance remains a challenge. Boost in US demand pushes trans-Atlantic Q1 volumes to pre-pandemic levels Firm growth in imports from Europe in the first quarter has lifted rates to more sustainable levels for carriers as the trans-Atlantic trade lane appears to have finally turned the page on a dismal 2023. Hong Kong's competitiveness takes another hit with revamp of alliance connectivity But the port has an action plan in place to win back business, including development of a green bunkering hub, digitizing port operations and boosting multimodal connections.

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APRIL 12, 2024

NYK gears up for pioneering truck-to-ship ammonia fuelling operation JERA poised to supply fuel to tug powered by alternative fuel LNG carrier spot index sinks to lowest level in two years amid quiet market Baltic Exchange market barometer moves mostly sideways amid scant activity General average to be declared over Dali bridge strike Cargo and vessel interests will share costs as clean-up operation continues in Baltimore Editor's selection: Tanker orders, Wall Street landmarks and revolving doors in Copenhagen These are the major shipping stories making the headlines this week Italy's FSRU Toscana unhooks and is taken in tow to first repairs docking Unit set to undergo works in Genoa and then Marseilles before returning to service in October OOCL quarterly revenue pummelled by transatlantic rates Cosco-controlled liner operator sees gains in transpacific revenue, not enough to stave off a slump VLGC owner Petredec opens LPG terminal in booming Indian market Shipowner expands its downstream operation with Andhra Pradesh facility Flex LNG bags charter extension taking ship hire through to 2032 Charterer Cheniere swoops in on option as market wallows First LNG carrier braves Gulf of Suez after three month hiatus due to Houthi threat Global gas fleet has given waterway a wide berth since mid-January but shipment may not signal a return Greenpeace protesters target bunker tanker over 'support for Russian oil exports' Green activists say the Zircone has been refuelling tankers shipping Russian oil Container giants face annus horribilis as billion-dollar profits evaporate Container giants post $700m final-quarter loss as profits plummet $191.5bn over the full year W Marine jumps into ultramax bulker market after profitable sale of oldest ships Rolling fleet renewal strategy takes Greek owner Yiannis Sarantitis into new market territory BW Offshore sends FPSO to Hong Kong-compliant breakers Company parts ways with the last vessel it was holding for sale 'Old boiler' Mike Lax puts off retirement thoughts with offer too good to refuse London shipping veteran explains why he took rejuvenating legal role with Hannaford Turner Wavelength Podcast: Listings, big-name exits and how cash-rich owners are spending their money Hafnia's bite of the big apple, Copenhagen's revolving doors, Asian shipyards reap gold as owners begin to spend 'Enormous vulnerabilities': Why US-flagged shipping isn't ready for war For some experts, the shortage of American mariners is more concerning than the lack of vessels Henriette Thygesen scoops top board roles after ending 30-year Maersk career Svitzer, Maersk Oil and Maersk Tankers alumni re-emerges at Vestas and ISS EDT Shipmanagement 'steadfast' on fleet expansion after string of acquisitions Cypriot owner believes growth strategy aligns with post-pandemic resurgence in offshore markets Russian oil product shipments under threat as Ukraine drones strike refineries Crude exports up as Moscow switches from domestic refining after 11 refineries hit since January, says IEA Heavylift partners BigLift and CY Shipping add to fleet with newbuilding orders Dutch and South Korean partners expand cooperation with deal at Jing Jiang Nanyang Will Joe Biden tax Chinese ships to make US shipping great again? That's what US unions want US trade representative is all but certain to launch probe into Beijing's support of shipbuilding Low-profile Greek firm Navitas makes dash for post-panamax bulkers Athens-based firm emerges as buyer of an Oldendorff vessel and a Chinese-built sister ship Odfjell launches transition finance framework with $30m term loan Secured total financing of $130m from five banks Tanker tonne-miles hit five-year high as flaring crises fuel spike Houthi attacks and Russian aggression boost tanker prospects, says IEA European Union votes to allow member states to ban Russian LNG imports Questions arise regarding whether countries will take advantage of new gas law? John Fredriksen books first large bulker order in over half a decade with newcastlemax deal Seatankers is said to have ordered four 210,000-dwt bulker newbuildings worth around $274m Evangelos Pistiolis pivots Top Ships from Nasdaq to New York Stock Exchange Greek tanker owner aims to enhance long-term value with move from the Nasdaq DHT pushes up VLCC spot rates as brokers report busier Atlantic market Second-quarter bookings are a little stronger than first three months for US owner Shell's Claire Wright poised to join Hanwha Ocean in UK South Korean shipbuilder continues to bring in new faces as it hones structure LNG specialist Richard Holtum being lined up for top job at Trafigura, report claims Sources tell Reuters CEO Jeremy Weir is preparing the ground for his successor Heavy-lift partners BigLift and CY Shipping add to fleet with newbuilding orders Dutch and South Korean partners expand cooperation with deal at Jing Jiang Nanyang yard Jinhui opts to charter rather than buy in face of rising prices Owner says latest deal allows it to bypass inflationary pressures in shipping Hafnia finance chief cashes in $1.9m shares in Oslo after New York listing Perry van Echtelt still holds $2.9m of company stock Cash-rich liner giants pose hurdles for new CEO of Global Ship Lease New chief executive explains role of boxship tonnage providers in era when lines buy their own ships Harren Tankers tied to profitable vessel sales as it pares down fleet German firm may have earned more than $100m over the past 12 months by selling one LR1 tanker and seven small clean ones Kuok-backed initiative agrees to build its first electric vessels Singapore alliance also expands membership with new entrants including country's largest bank Sinokor set to recycle two more feeder container ships South Korean shipowner continues with its clear-out of ships built in the late 1990s Singapore's first-movers making electric vessel dream a reality Penguin and Pyxis power ahead with global dreams in Singapore Vietnam Maritime seeks to strike it lucky with a second bite at bulker sale Previous sales tender process did not produce a satisfactory bid, brokers say

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APRIL 12, 2024

Descartes: Container import volume trajectory is strong The East and Gulf Coast ports continue to take market share from the largest West Coast ports, which had a challenging March.