Greek owned bulker is latest ship hit by Houthi missile While efforts to degrade the capabilities of the Houthis to attack merchant shipping continue, they have not yet put a stop Houthi missile attacks on ships. Yesterday, (see earlier report) Gibraltar Eagle,
Jonathan Daniels named new Maryland Port Administration executive director Maryland Transportation Secretary Paul J. Wiedefeld has announced that Jonathan Daniels is to be the new executive director of the Maryland Port Administration, which manages and directs the six state-owned marine terminals
BRIX Marine delivers shark diving boat Two of the more recent deliveries from BRIX Marine that we've covered here were whale watching boats. The latest delivery from the Port Angeles, Wash., based boatbuilder is a little different: a
Stena Oil launches operations in Danish port Stena Oil, a Scandinavian player in the global marine fuels industry, has initiated operations at the new fuel terminal in Frederikshavn, Denmark. Towards the end of last week, Stena Terminals A/S, a wholly-owned subsidiary of Stena Oil, and the Port of Frederikshavn signed the takeover agreement, signifying that Stena Oil has taken possession of the terminal. "We have a good collaboration with t
Wan Hai unveils 13,100 TEU newbuild vessel On 16 January, Wan Hai Lines conducted a ship naming ceremony for the WAN HAI A13, marked by a charitable donation, at the Samsung Heavy Industries Geoje shipyard. WAN HAI A13 was handed over at the Geoje shipyard and commenced its journey to the Shanghai Port, where it will be integrated into Wan Hai Lines's Asia to East Coast of North America service. The WAN HAI A13 stands as the seventh vesse
DP World achieves fossil diesel-free status at London Gateway DP World has achieved fossil-free status at both of its UK logistics hubs, marking a significant milestone with the elimination of fossil diesel usage at London Gateway. In January, the company successfully transitioned diesel-engine equipment and installations to operate on Hydrotreated Vegetable Oil (HVO) as part of London Gateway's ongoing sustainability initiatives. This move aligns with the
CMA CGM and Air France-KLM terminate air cargo alliance In a significant development, CMA CGM and Air France-KLM have decided to terminate their air cargo alliance. The partnership, established in May 2022 concurrently with CMA CGM becoming a shareholder of Air France-KLM, would aim to capitalize on the growing demand for freight transportation worldwide. The decision to end the alliance stems from a row over flight slots at Amsterdam airport, an issu
Drop in Suez Canal revenues could affect Egyptian economy Chairman and managing director of the Suez Canal Authority (SCA), Admiral Osama Mounier Mohamed Rabie said that dollar revenues from the canal are down 40% from the beginning of the year compared to 2023, while vessel traffic has declined by 30% in the same period. The number of ships that have passed through the Suez Canal dropped to 544 so far this year, from 777 in the equivalent period of 202
Houthi attacks aimed at trade disruption, not ship destruction If trade disruption is the Houthi's main aim, then they will have been getting good results as the movement fires another missile, downed by the US military, but Qatar announces that its vessels will not transit Suez until it is safe. But this will not necessarily result in higher inflation. Reuters reported yesterday that QatarEnergy had halted its gas tankers from taking the Suez route followin
Atlas Air receives new Boeing 777 Freighter to be operated for MSC Atlas Air, a subsidiary of Atlas Air Worldwide Holdings, has officially received a Boeing 777-200 Freighter as part of its ongoing collaboration with MSC Mediterranean Shipping Company. In line with their long-term ACMI (aircraft, crew, maintenance, insurance) agreement, Atlas Air is deploying four 777 aircraft globally on behalf of MSC, enhancing MSC's capacity and reach for its clientele. This
Diana Shipping fixes out ultramax to Stone Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its ultramax vessels. Diana Shipping won a charter for the 2016-built, 60,309-dwt , previously known as STH Kure. The gross charter rate is $14,500, minus a 5% commission paid to third parties, for a period until ...
Toro nets nearly $21m from sale of veteran tanker Nasdaq-listed tanker and LPG owner Toro has concluded another lucrative asset play having offloaded a 2005-built aframax/LR2 at a net gain of nearly $21m. The spinoff of Cyprus-based Castor Maritime has sold the Samsung-built , ex-Dubai Hope, to an unnamed buyer for $33.8m. The Petros Panagiotidis-led firm said it expects to record a Q1 2024 ...
Greek bulker comes under fire off Yemen Attacks continue to mount in the Red Sea, with the latest victim being the Greek-owned bulk carrier . The Maltese-flagged 56,900 dwt ship with 24 crew on board was targeted off Yemen while transiting the southern Red Sea northbound about 122 km northwest of al-Saleef, according to Ambrey. The United Kingdom Maritime Trade Operations (UKMTO) ...
Scorpio Tankers sells one vessel as it takes back five New York-listed Scorpio Tankers has sealed a deal to sell one ship bought out of lease financing in 2022, while it continues to buy back more vessels to further reduce financial costs. The Emanuele Lauro-led product tanker giant is shipping out the 2015-built MR2 STI Tribeca for $39.1m, with delivery in the first quarter. The ...
McDermott wins work on Malaysian carbon capture project US subsea and deepwater engineering and construction player McDermott has been awarded an offshore contract from Malaysia Marine and Heavy Engineering (MMHE) for the Kasawari carbon capture and storage project, located offshore Sarawak in East Malaysia. Under the scope of the contract, McDermott will perform transportation and the structural installation of a 138-kilometre pipeline section, ...
CMA CGM ends cargo alliance with Air France-KLM French carrier CMA CGM and Air France-KLM have agreed to cease their air cargo partnership, citing regulatory restrictions. The partnership announced in May 2022, with CMA CGM becoming a shareholder of Air France-KLM, was part of the Rodolphe Saadé-led company's expansion move beyond its liner base during container shipping's greatest bull run. The long-term strategic ...
LNG as shipping's alternative fuel in crosshairs again with European court challenge Five NGOs - Fossielvrij, Protect our Winters, Dryade, CLAW, and Opportunity Green - have launched a legal challenge against the European Commission, requesting it to review its green investment rules on aviation and shipping. In Tuesday's press release, Opportunity Green said that the EU Taxonomy should act as the standard for informing ethical and sustainable ...
Argeo awarded first project for newly bought vessel Norwegian surveyor Argeo has received a conditional letter of award from an undisclosed international energy company. The work on the project, according to the company, will be subject to a final contract agreement. If the final contract agreement is signed, the surveyor will mobilise the for the project upon completion of reactivation and upgrade work ...
Keppel FELS seeks High Court appeal in Awilco Drilling rig dispute Singapore-based offshore yard Keppel FELS has filed an application to appeal with the High Court against the arbitration ruling in favor of Awilco Drilling in a legal battle over cancelled drilling rigs. Awilco Drilling won the second of two arbitration cases against Keppel FELS, now part of Sembcorp Marine in November last year. The legal ...
Greek owners make largest newbuild outlay in a decade Greek owners are ploughing more money into newbuilds than at any time since 2013, according to new research from Clarksons Research. Greek shipping companies committed 60% more newbuild investment year-on-year last year, investing around $18bn, the highest Greek investment by dwt since 2013, according to a new shipbuilding report from the British broker. The first ...
Australian government to meet with DP World in bid to settle stevedore dispute With Australia's maritime union still standing firm in its dispute against the country's second-largest port operator DP World, the sides are being incentivised to sit and solve the situation which is disrupting the nation's busiest ports and costing the economy tens of millions of dollars each week due to delays. The port operator has been ...
Three60 Energy wins engineering work on two BW Offshore FPSOs Energy services company Three60 Energy has won two engineering and construction contracts with Oslo-listed floater specialist BW Offshore. Under the two contracts, Three60 will provide extensive engineering, procurement, construction, and commissioning (EPCC) services for BW Offshore's Catcher and Adolo FPSOs which will include brownfield modifications to the assets located offshore the UK and Ga
Eagle Bulk attack highlights how Houthis are widening their targets More shipping companies are shunning the Suez Canal as fears grow that the Houthis are widening their targets., a bulk carrier owned by US-based Eagle Bulk Shipping was struck by a missile in the Gulf of Aden yesterday. The United Kingdom Maritime Trade Operations (UKMTO), and maritime security consultants Ambrey said the incident occurred ...
Glomar buys out Rederij Groen Dutch offshore support vessel player Glomar has struck a deal to buy out compatriot owner Rederij Groen and take full control of the company. Rederij Groen took a 50% stake in the Den Helder-headquartered operator of purpose-built OSVs in 2016. Seaspan Holding, established by Glomar CEO and founder Klaas Weij, and Rederij Groen had previously ...
Bocimar sells modern newcastlemax The Saverys family-controlled bulker arm, Bocimar, is taking advantage of aggressive bidding in the bulker segment in a rare deal selling a modern newcastlemax. Bocimar is shaving off its fifth ship in the cape segment in as many weeks with broking sources linking Singapore-based Winning Shipping to its latest sale, noting that the Chinese player ...
Sovcomflot reflags en masse to Gabon Gabon, a small Central African nation on the Atlantic coast, was last year's fastest-growing shipping registry. In the opening days of 2024, its growth has been phenomenal thanks to a massive reflagging operation conducted by Russia's top shipping concern, Sovcomflot. Last year, the Gabon flag grew by 130.6%, according to data from Clarksons Research. The ...
Dark fleet casualty Pablo to be scrapped in Indonesia One of last year's most high-profile tanker casualties has been towed to Indonesia where it will be scrapped. The aframax exploded on May 1 in Malaysian waters, killing three crewmembers. The charred remains of the 1997-built ship was one of the shipping images of 2023, a stark reminder of the risks associated with the dark ...
Machismo and the art of shipmanagement Andrew Craig-Bennett on the hard man culture afflicting shipping. Reading about the escape from disaster of the Alaska Airlines B737-9 (and let us not ascribe to "luck" what was due to the skills of the crew - that no-one was in the two seats nearest the departed door plug was luck; the rest was skill, ...
Red Sea tipping point may be 'only a few more attacks away' At this moment, charterers and crews are also having a say in whether a ship runs the Houthi gauntlet or...
Shell 'suspends Red Sea transits' as charterers reassess Houthi risk 'If you want to transit, it is absolutely recommended that you do it at night and you turn your AIS...
Fresh US strikes target Houthi missiles The US launched fresh strikes targeting Houthi missiles on Tuesday as the militants continue attacking ships in the Red Sea...
Scorpio sells MR tanker for 'strong' $39m and continues ship buybacks Scorpio has sold a 2015-built MR tanker for $39.1m, a 'strong' price according to Jefferies that indicates the companies' net...
'Inadvisable' to use CII during review period, say top flag states and industry groups Two IMO member states and multiple industry groups said it is 'inadvisable' to use CII during the review period through...
Seacon balances management services with controlled fleet growth to 29 ships Chinese shipmanager currently also has an orderbook of another 13 newbuildings
Vietnam's shipbuilder SBIC to initiate bankruptcy proceedings The state-owned shipbuilding group, formed through the restructuring of the former conglomerate Vinashin, shoulders a substantial debt burden of $4bn
Dutch biofuel bunker demand unfazed by lower subsidies Biofuel bunkering demand at Dutch ports to remain supported owing to environmental regulations despite lower subsidies in 2024, as shipping...
Boxship charter rates and periods continue to rise as Red Sea events drive up demand Boxship charter rates have risen by up to 15% in the past two weeks as demand for vessels has increased...
Hapag-Lloyd's fleet upgrade gathers pace 'Alternative fuels won't be available in the amount required, in view of that we have to focus on emissions reductions,'...
Cosco and China Merchants see muted box throughput growth despite overseas terminal gains However, their terminals in the emerging markets, particularly the Middle East and South America, were among the strongest growth engines
Greece-owned bulk carrier struck by missile as two Houthi attacks reported Two incidents have been reported by UK Maritime Trade Operations on Tuesday. These are the 30th and 31st seen since...
US Navy Seals missing at sea during Houthi-bound weapons seizure The US says it has seized weapons bound for the Houthis, but two Navy Seals went missing in the attempt
CMA CGM airfreight plans hit turbulence Airfreight was seen as a natural extension during the pandemic boom years. Now CMA CGM will have to go back...
Hanwha Ocean shipyard work suspended after fatal accident Investigations are ongoing and the suspension will be lifted on the orders of South Korea's Ministry of Labour and Employment...
Daily Briefing Eagle Bulk vessel struck by Houthi missile | Diversion surcharges come under spotlight | BlackRock acquires Global Infrastructure Partners
Harren Group expanding project-capable fleet despite mixed market outlook Heavy-lift and semi-submersible owner/operator Harren Group is expanding its fleet with a mix of long-term charters and up to six newbuildings.
US Commerce Department rejects Pitts appeal in marine chassis case The decision involving China-related tariffs is major blow to Pitts Enterprises and could force its Dorsey Intermodal chassis subsidiary out of business.
US truck shippers seen prizing stability, capacity in 2024 bids Growing shipper preference for longer-term contracts shows they believe the truckload market has hit bottom and are concerned about late-2024 capacity, analysts say.
Emboldened Houthis could force ongoing Red Sea ship diversions: analysts Air strikes against Houthi rebel operations are unlikely to deter the Iran-backed militant group from future attacks in the Red Sea, geopolitical analysts warn, suggesting container lines will be routing cargo around southern Africa for the foreseeable future.
India-US ocean rates seen inching to COVID peaks on Red Sea woes Forwarders are voicing concerns that carrier rate quotes are now mostly valid only for a week compared with the normal 30-day validity extended to regular booking customers.
Ocean overcapacity shows its worth in managing Red Sea disruptions: analyst The Red Sea crisis has allowed ocean carriers to find a use, at least temporarily, for the overcapacity that was supposed to cause them problems, writes analyst Lars Jensen.
Intra-Asia shippers face capacity crunch, equipment shortages as rates surge The impact will be especially felt on key services such as China-Vietnam and China-Thailand where deep-sea services are accounting for an increasing share of the intra-Asia volumes on those trade lanes.
Lack of US market access kills CMA CGM-Air France-KLM air cargo deal The two French giants are in discussions to set up a new partnership, with each party operating its own independent air cargo network.
Procopiou and Economou lead Greek newbuilding orders to 10-year high Clarksons figures show Hellenic players with the lion's share in vessel contracting in 2023
Insurers hike war risk rates following Red Sea attacks on US and Greek-owned ships Rates may top 1% after latest Houthi missile attacks
US seizes Houthi-bound anti-ship weapon components in dramatic night raid Parts were intended to reach the Houthis to help them disrupt shipping, the US claims
Offshore charter rates and secondhand deal values to rise in 2024, says Fearnleys Norwegian broker says lack of fleet renewal in the coming years will be a significant driver in offshore
Insurers hike war risk rates in response to Red Sea attacks Rates may top 1% after latest Houthi missile attacks
Toro Corp down to last tanker as it more than doubles its money on aframax/LR2 Cypriot shipowner continues to add to profit with lucrative sales
Eagle Bulk circulates two supramaxes for sale ahead of special surveys Reports of sales said to be premature but disposals are in keeping with owner's practices
Subcontinent green with envy over FPSO recycling As Petrobras floater is scrapped in Brazil, cash buyers warn of bleak times ahead for sector
Toro Corp down to last tanker as it more than doubles its money on aframax/L2 Cypriot shipowner continues to add to profit with lucrative sales
Eagle Bulk circulates two older supramaxes ahead of special surveys Reports of sales said to be premature but disposals are in keeping with owner's practices
Kjell Inge Rokke pounces on early VLCC berths at Hanwha Ocean Craze for large tankers grips Norwegian shipowners as John Fredriksen firms up orders
Jorg Rudolph joins Cruise Saudi to launch start-up Aroya Cruises brings in one of the big guns of the European sector
Explosion kills Hanwha Ocean worker and brings work to halt Subcontractor thrown over 10 metres by rudder shop explosion
Saverys family tackles questions facing Euronav after takeover battle ends with 'outcome we wanted' Board makeup and appeal to investors are some core issues on the minds of largest shareholders after CMB.TECH deal
Lightship strikes again: Broker snaps up US shop just days after revealing Braemar stake Broker plans to boost its broker headcount to at least 250 worldwide over the next five years
Shipping investment giant BlackRock snaps up ports player Major deal will strengthen US fund's hand in maritime infrastructure
Scorpio Tankers buying back five more ships as it flips modern MR Repurchase drive continues as US-listed owner looks to cut debt further
Solstad Offshore fires back at Christian Sveaas' Kistefos as Kjell Inge Rokke-backed refinancing completed Offshore vessel owner insists Kistefos only reached out twice, and never on refinancing
Mining giant Rio Tinto pins hopes on China stimulus to hit iron ore targets Rising commodity prices and firmer economic data aided miner's volumes in the fourth quarter
Greek bulker targeted in the Red Sea in latest attack on shipping Incident comes a day after an Eagle Bulk ship was hit in the Gulf of Aden
Fresh Red Sea ship attack reported by UKMTO Incident comes a day after an Eagle Bulk ship was targeted in the Gulf of Aden
US seizes Houthi-bound anti-ship weapons in dramatic night-time raid The weapons parts were intended to reach the Houthis to help them disrupt shipping, claims the US
CDB Financial Leasing buys former Carnival Corp ship on behalf of Chinese cruise operator Ex Aidavita's future lies in the fleet of Blue Dream International Cruise
Laden Qatari LNG carrier trio re-route via Cape to bypass Middle East danger zone QatarEnergy-chartered vessels resume trading after pausing to assess routing risks
Saverys family tackles key questions facing Euronav after titanic takeover battle ended with 'outcome we wanted' Board makeup and the appeal to investors are some core issues on the minds of largest shareholders after CMB.TECH deal
Tankers getting 'a pass' from Houthi attackers, claims shipowner group Giuseppe Bono Centre says Iran is wary of escalating conflict
VLCC prospects in the hands of US and Opec as largest crude tankers play catch up BRS Shipbrokers says Asia will import more US crude this year
Baltic's fresh take on fuel consumption boosts VLCC spot indices More efficient ships are changing the way the London exchange comes up with earnings figures
UK court says Venezuela is immune from injunctions in cruise ship collision case Court of Appeal upholds State Immunity Act in legal battle with UK P&I Club
Greek shipowner improves tanker fleet emissions using energy-saving devices Okeanis reveals cut in fuel use as efficiency improves
VLCC prospects in the hands of US and Opec BRS Shipbrokers says Asia will import more US crude this year
Scorpio supremo Emanuele Lauro to join Cadeler board after Eneti merger Lauro will become vice chairman at offshore wind vessel giant as James Nish also joins
Northern Sea Route crossings dominated by crude oil cargoes last year Nearly 77% of Yamal LNG exports headed to European terminals in 2023, Centre for High North Logistics says
VLCC tanker prospects in the hands of US and OPEC BRS Shipbrokers say Opec+ decisions and US production could help the largest tankers this year
UK court says Venezuela immune from injunctions in cruise ship collision case Court of Appeal upholds State Immunity Act in legal battle with UK P&I Club
Offshore charter rates and second-hand deal values to rise in 2024, says Fearnleys Norwegian broker says lack of fleet renewal in the coming years will be a significant driver in offshore
LNG fuelling in crosshairs over 'green label' as EU faces legal pressure to set 'gold standard' EU faces legal pressure to set new threshold for sustainable investments
KCC pulls ships from 'escalating situation' in Red Sea as it logs higher rates Rerouting expected to have limited effect on buoyant earnings for Norwegian owner
Oil major Equinor floats charter tender for methanol dual-fuel MR tankers Norwegian company seeks up to four high-specification tankers
Norway seeks to crack future fuel 'chicken and egg' conundrum with fresh funding Norway has only one hydrogen-fuelled vessel on the water despite government funding of $200m over two years
Procopiou and Economou lead Greek newbuilding orders to 10-year high Clarksons figures show Hellenic players with the lion's share in contracting vessels in 2023
Breaking fresh ground: Landmark newbuilding deliveries to look out for in 2024 A peek at what's to come from the world's shipyards in 2024
Gail emerges with LNG time charter tender to cover trading needs Period business ticks up after year opens on spot rate slide
CDB Financial Leasing buys former Carnival Corp ship on behalf Chinese cruise operator Ex Aidavita's future lies in the fleet of Chinese operator Blue Dream International Cruise
Jorg Rudolph joins Cruise Saudi to launch Aroya Cruises Middle Eastern cruise start-up brings in one of the big guns of the European cruise sector
Maersk Oil Trading Singapore's top biofuel bunker supplier in 2023 Volumes sold in the 12-month period triple those of a year ago, according to Maritime and Port Authority
Netbulk to turn shipowner via acquisitions and newbuildings Dry player says partnerships are key to its growth ambitions as it celebrates moving into its new Singapore office
Red Sea conflict worsens, forcing more ship detours around Africa Container-ship diversions from the Red Sea will likely last for months. Are large-scale tanker diversions imminent?
CMA CGM, Air France-KLM scrap cargo alliance over US market access Air France-KLM and ocean shipping power CMA CGM, citing regulatory challenges in various nations, have agreed to discontinue their air cargo capacity-sharing agreement one year into a 10-year partnership, the [...]
APM Terminals to invest $500M in container facility on the Mississippi APM Terminals announced a deal with Plaquemines Port to build a $500 million container terminal near the Port of New Orleans on the Mississippi River.
Cargojet reverses course on 777 freighter ambitions Cargojet says there isn't enough airfreight business to justify its planned investment in 777 converted freighters. It wants to get out of its commitments, most likely by selling the aircraft to another company.
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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