Ambrey: Latest Houthi attacks show a "significant increase in effectiveness" This week has seen a spate of new Houthi attacks - and, in a just released threat circular, maritime risk consultancy Ambrey says that they are showing a significant increase In effective.
Mammoet awarded key Pearl Harbor dry dock project contract Utrecht, Netherlands, headquartered heavy lift specialist Mammoet is to play a key role in the Navy's largest maritime infrastructure construction project since World War II, the planned five-year Pearl Harbor dry dock
Ship Repair USA a "huge success" in its second year Marine Log held its second annual Ship Repair USA conference in the French Quarter of New Orleans on June 11-12, once again attracting attendees from across the spectrum of shipyards, vessel operators,
CMA CGM updates Asia peak season surcharges The French carrier, CMA CGM Group, has announced an updated Peak Season Surcharge effective from 20 June 2024, until further notice. The surcharge applies to shipments originating from all Asian ports and destined for the Middle East Gulf, Red Sea, and Indian Subcontinent. This PSS will apply to Dry, Reefer, OOG, and Paying Empties cargo types, with rates set at US$1,000 per 20' container (Dry &
Port of Antwerp-Bruges achieves fourth ISO 50001 certification For the fourth consecutive time, the Port Authority has attained ISO 50001 certification for its sustainable energy strategy. Zeebrugge has now joined Antwerp as part of this certification, marking a significant achievement just two years after their merger. Since 2011, the Port Authority has sourced 100% of the electricity for its buildings, locks, bridges, and shore power supply for inland navi
Seafarer severely hurt in Houthi assault A seafarer on a general cargo vessel was seriously injured after two Houthi missiles hit the ship on 13 June. The US Central Command (Centcom) said that two anti-ship cruise missiles struck the 2008-built 11,402 dwt Verbena, which is owned by Ukraine-based Donbasstransitservice and operated by Poland-based Dtschart Sp. The US warship USS Philippine Sea evacuated the injured seafarer to a partner
Port of Long Beach sees 8.2% cargo decline in May Shifting trade routes and cancelled voyages resulted in a decline in cargo at the Port of Long Beach in May. Dockworkers and terminal operators handled 695,937 TEUs last month, an 8.2% decrease from May 2023. "I am confident we will see additional cargo as we work with industry partners to rebuild our market share in this increasingly competitive environment," commented Mario Cordero, CEO at Port
Larger container lines drive operational gains from 'own terminals' in India As the Red Sea crisis remains a major drag on container supply chains, 'own terminal advantages' are believed to be benefiting the larger container lines serving Indian trades. Mediterranean Shipping Co. (MSC) and CMA CGM have container terminal partnerships with the Adani Group at Mundra Port, India's busiest box gateway. According to industry sources, this strategic investment model has placed
Georgia Ports Authority handles over 490,000 TEUs in May In May, the Georgia Ports Authority managed 490,330 TEUs, marking a 22% increase compared to the same month last year. This rise equates to an additional 90,000 TEUs. Also, the Port of Savannah has experienced significant growth due to a strengthening retail market and an influx of new customers. "Major retail customers tell Georgia Ports they have increased their orders to rebuild inventories an
Affordable Online MBA in Supply Chain Management Programs for 2024 Photo by Tiger Lily, sourced from Pexels As the world becomes more connected, strategically importing and exporting goods will help a company thrive in today's global economy. Having a well-versed supply-chain team is crucial in ensuring that stock is ordered and arrives on time. According to US BLS , the demand for logisticians and supply chain managers is projected to grow by 18% between 2022 a
MacGregor wins major crane contract from MMA offshore MacGregor, a part of Cargotec, has secured a significant order for its 50-tonne active heave compensated (AHC) crane, which will be installed on the MMA Valour. This versatile and flexible multi-purpose platform supply vessel has a proven track record in servicing a wide range of offshore tasks across the energy and offshore wind sectors. "We are looking forward to fitting the MMA Valour with a M
Diana Shipping locks kamsarmax bulker into charter with Cobelfret Greece's Diana Shipping has secured employment for its kamsarmax bulk carrier at a slightly improved rate compared to the vessel's previous deal. The New York-listed shipowner has fixed out the 2010-built Myrsini to Cobelfret until February 2025, with options until March 25. The new deal, albeit shorter, will earn $2,100 more per day compared to ...
Solstad seals pair of OSV extensions Norwegian OSV player Solstad has landed charter extensions for two of its vessels. Subsea 7 has called its final option for the construction support vessel (CSV) Normand Subsea, which will see the vessel fixed until the end of 2025. The 2009-built unit has been on contract to Subsea 7 since 2009. In addition, the 2007-built ...
GAC buys Swire ship agency business in New Zealand Global shipping, logistics and marine services provider GAC has acquired one of New Zealand's leading shipping agencies Quadrant Pacific from Swire Shipping for an undisclosed sum. "This acquisition marks a significant milestone in the company's longstanding presence in the region," GAC said. The duo has worked together since the establishment of GAC New Zealand in ...
Subsea 7 scores UK North Sea contract with Dana Petroleum Oslo-listed Subsea 7 has secured a contract worth between $50m and $150m from Dana Petroleum, for work on the Bittern field development in the UK Central North Sea. The contract covers project management, engineering, procurement, construction and installation (EPCI) of a 22 km water injection pipeline and associated subsea structures and tie-ins at the Triton ...
Kumiai Navigation adds to VLGC series in Japan Singapore-based Kumiai Navigation has ordered its fourth liquefied petroleum gas (LPG)-fuelled 86,700 cu m very large gas carrier (VLGC) at Japanese shipbuilder Kawasaki Heavy Industries (KHI). No price has been revealed for the 230-m-long vessel that will be delivered from KHI's Sakaide Works in the fourth quarter of 2026 and be able to carry LPG ...
Seafarers bear brunt of 'rising aggression' from the Houthis It's been a brutal week for the mental welfare of seafarers bound for the Middle East and their families back home, starting with hopes for a ceasefire in Gaza, before swiftly descending into an explosive, bloody chaos with one death and a severe injury as the Houthis ramped up more sophisticated attacks. The Houthis have ...
Allseas' Pioneering Spirit wins pipelay work on Equinor's Troll field Swiss-based marine construction specialist Allseas has won a contract for the installation of pipelines and integrated structures for the second stage of Equinor's Troll Phase 3 project. The Troll Phase 3 project is supposed to accelerate production and contribute to maintaining the high production capacity utilisation of the Troll A Platform and the Kollsnes onshore ...
Alita swells chemical tanker orderbook Chinese owner Alita Shanghai International Shipping is bolstering its fleet of stainless steel chemical tankers with up to four newbuilds at a domestic yard, Zhejiang Haoyou Shipbuilding. The order covers two firm and two optional 13,800 dwt IMO type II and III vessels, with deliveries starting in November next year. The 132-m-long units with a ...
Arrest order against Blackford Dolphin rig lifted Offshore driller Dolphin Drilling has shaken off an arrest order for its Blackford Dolphin drilling rig which has been subject to court claims for quite some time. The offshore driller received service of Nigerian court proceedings in an action brought by Technova Africa International in late May. The Pan African energy and infrastructure conglomerate obtained ...
Samsung Heavy goes to court over Russian tanker cancellations South Korea's Samsung Heavy Industries is going to the Singapore International Arbitration Centre to file a case against a Russian shipyard owner that cancelled contracts worth $4.3bn for the supply of oil and gas tankers. Samsung Heavy said yesterday it will sue Zvezda as the Russian shipbuilder, which faces sanctions from the US, asked the ...
Next wave of shipping sanctions levelled at Russia With the leaders of G7 nations meeting in Italy this week, a further coordinated series of sanctions against Russia have been making headlines in recent days with plenty linked to shipping. Nearly 850 days since the start of Russia's full-scale invasion of Ukraine, the UK yesterday announced 50 new sanctions designations. New targets include ships ...
Report highlights significant improvements in safety across the dry bulk shipping sector Annual casualty figures from INTERCARGO, the International Association of Dry Cargo Shipowners, highlight continuing improvement in the safety performance of the sector. The bulk carrier fleet has grown significantly in recent years to cater for the world's growing economy. Between 2014 and 2023 the number of vessels increased by 20% to 12,200, with today's bulk ...
Weaker US produce volumes help keep lid on truckload rates Produce shipments by weight have dropped in 2024, and that's helped maintain "adequate" truckload capacity in most parts of the US, the Department of Agriculture said.
Peak season surcharges land earlier, and higher, in hot trans-Pacific market With vessel space from Asia to the US at a premium amid an early peak season, ocean carriers have been largely successful in implementing the surcharges in June, and some will keep pushing their luck in July.
US truckload spot rates rise, but still below year-ago levels This year's truckload spot rates are hugging the baseline set in 2023 as the freight recession drags on; a major increase seems unlikely anytime soon.
Reefer shippers face longer booking times, box shortages amid port congestion Still, insurers said the difficulties have yet to materialize in a noticeable rise in claims for spoiled cold chain or perishable products.
New Fortress Energy tees up its first offshore LNG production Company's much delayed Fast LNG unit off Mexico to export initial volumes in July
Should guards on ships be ready to fire on Houthi sea drones? Some security experts say yes Drones move more slowly and can be fired upon, and armed security teams can help with reemerged piracy threat
Evalend bulker abandoned as crew evacuated after Houthis' fatal attack Ship becomes second whose crew has been removed since militant group's attacks began.
Seafarer killed in Houthi attack on Greek Evalend bulker as salvage continues Two-year-old kamsarmax becomes second vessel to suffer fatal strike
Too easy to just pay and pass on environmental costs to consumers under EU rules, warns Star Bulk Brussels called to link up FuelEU Maritime and the ETS funds to help 'move the needle'
UK refuses to reveal price cap probes amid trickle of industry reports Sanctions enforcement body has issued no fines since the price cap regime started
DNB Markets names new global shipping lead to meet demands of 'super cycle' Nicolay Dyvik sees increased interest in shipping IPOs and M&A
Greek shipowner IMS extends whirlwind secondhand buys with MR tankers Marios Gialozoglou-led firm keeps its foot on the acquisition pedal as Greek peer Empire Navigation offloads tonnage
VLCC rumoured to have set new benchmark with 'significant number' for three-year fix London broker SSY says vessel on subjects at $54,500 per day as spot rates plunge to $28,600
Could soaring container freight rates top pandemic peaks? Spot rates hit $10,000 per feu with no end in sight for the container shipping rally
Wallenius Wilhelmsen bags a bargain as it snaps up leased ship for half its market value Norwegian owner firmly in the money by buying vessel out of term lease deal
Low-sulphur fuel 'off-spec' incidents spike as ships reroute around Africa Contamination taking place as barges carry both high and low-sulphur bunkers
Swedish Club urges rivals to pool resources ahead of shipping's next crisis Managing director Thomas Nordberg said mutuals could benefit from tackling threats together from geopolitics, AI and cyber crime
Hayfin Capital ramps up capesize raid as it buys Greek-owned ship Rising secondhand prices are not discouraging alternative investment fund from raising its wager on big bulkers
Greek PM threatens cruise ship cap to cope with 'over-tourism' Kyriakos Mitsotakis says limits on calls could come in next year
Samskip looks to retrofit LNG dual-fuelled vessel to also run off hydrogen Norwegian funding gives company cash to assess installation of fuel cells and hydrogen tanks on nine-year-old coastal vessel
Swire Shipping sells ship agency Quadrant Pacific to GAC in 'milestone deal' Giant group expands with deal to take over New Zealand operation
Wavelength podcast: Altera's fine for sending ships to scrap in Alang, Stolt-Nielsen hosts first capital markets day in a decade and Ukraine's view on the dark fleet Altera Infrastructure denies any guilt and says the prosecution against it has not been transparent
Shell emerges as final contender for Pavilion Energy purchase Talks move into closing stages in sell-off of Singapore's state-owned LNG venture
Rate pressure grows as Maersk moves AHTS armada into North Sea spot market Broker says Danish giant has added eight vessels to its exposure in vital region
Wavelength podcast: Altera's fine for sending ships to scrap in Alang, Stolt Nielsen hosts first capitial markets day in a decade and Ukraine's view on the dark fleet Altera Infrastructure denies any guilt and says the prosecution against it has not been transparent
'Super-efficient' bulker design aims to slash conventional fuel use by half Norwegian technology group teams with Deltamarin for new eco-kamsarmax
MOL looks upstream and downstream from core shipping business on path to net zero Ammonia production and storage are on the menu for Japanese shipping giant
Shell emerges as final contender for Pavilion Energy buy Talks move into closing stages in sell off of Singapore's state-owned LNG venture
India's plan to buy 1,000 ships could 'significantly' affect secondhand and newbuilding markets Greek shipbroker Xclusiv says government scheme reflects country's growing ambition on world stage
BW Group raises $103m from upsized share sale in gas carrier owner Navigator Singapore shipping giant offloads more stock in US-listed company than originally planned
UK blacklisting of Russian insurer Ingosstrakh could backfire, industry warns International Group of P&I Clubs sanctions committee head says move is unlikely to affect the shadow fleet but could block oil spill payments
China Merchants Energy orders eight newcastlemax bulkers at New Times Shipbuilding Chinese owner is paying a total of CNY 4.4bn for the octet
Canada's TMX ramps up crude loadings as 22 tankers booked to call in June Seismic shift for aframaxes beginning to be seen on country's west coast
Altera defends scrapping of 'mint condition' shuttle tanker pair following $700,000 fine Shuttle tanker operator said it tried to find other uses for 20-year-old ships before sending them to Alang
Seanergy teams up with Costamare in double capesize charter deal US-listed capesize specialist now has 100% of its 18-strong fleet under period coverage
Chinese e-tailer JD.com expands cargo airline Chinese e-commerce store JD.com is growing its in-house airline to satisfy customers in China with quick order delivery.
What does air cargo's early peak season mean for peak season? The air cargo market is enjoying an unexpected boom during the slow season, but it's unclear whether demand is pulling from the third and fourth quarters to avoid supply chain delays or will continue to build.
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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