FTA announces $300 million in ferry grants The U.S. Department of Transportation's Federal Transit Administration (FTA) today announced grants totaling nearly $300 million from President Biden's Bipartisan Infrastructure Law to expand and modernize U.S. ferry systems. In total, FTA
Chevron and MOL in LNG carrier wind assistance world first Wind assistance is finding favor in an ever growing range of vessel types and trades. It's now reaching the LNG sector, where Chevron Shipping Company LLC, a subsidiary of Chevron U.S.A. Inc.,
GD NASSCO awarded $6.75 billion T-AO block buy contract NAVSEA has awarded shipbuilder General Dynamics NASSCO a $6.75 billion block-buy contract for the construction of up to eight additional John Lewis-class fleet replenishment oilers (T-AO 214 through 221) . The tenth
Sounion salvage tow gets under way The Greek-owned tanker Sounion, still on fire since being hit in multiple Houthi attacks more than two weeks ago, is at last under tow. The vessel is laden with 150,000 tonnes of
Wärtsilä and Royal Caribbean Group in 37-ship lifecyle agreement Wärtsilä has signed a five-year lifecycle agreement contract with Royal Caribbean Group covering 37 of the group's cruise ships. The agreement is designed to optimize the performance, reliability and availability of the
Positive trends on key trade routes drive global export growth Container News conducted an analysis to reveal maritime trade trends in key maritime routes, highlighting the growing importance of the Far East in global shipping. According to Alphaliner data and various industry sources, the Far East-Europe and Transpacific trade routes have seen significant growth from 2020 to 2024, pointing to the emergence of East Asia as a pivotal region for the global shi
Pilbara Ports handle 65.8 million tonnes in August In August, Pilbara Ports recorded a total monthly throughput of 65.8 million tonnes (Mt), reflecting a 5% increase compared to the same month in 2023. The Port of Port Hedland saw a throughput of 48.6 Mt, with 47.9 Mt attributed to iron ore exports, maintaining consistency with August 2023 levels. Imports at the Australian port reached 173,000 tonnes, a slight rise of 1,000 tonnes compared to the
Charting new waters: AI and advanced tech transform shipping logistics As technological advancements continue to accelerate, the logistics and shipping sectors stand on the brink of a transformative era. With the integration of AI and advanced navigational technologies, container ships are poised to receive unprecedented levels of precision assistance. We tasked an Artificial Intelligence (AI) system to visualize how these sophisticated systems could be integrated i
11 Ways to Become an Effective High School Administrator In the dynamic world of education, the role of a high school administrator is pivotal. This position, often perceived as the backbone of the educational system, requires a blend of skills, strategies, and an understanding of the unique challenges faced by adolescents. The journey to becoming an effective administrator in a high school setting is not just about managing the school's day-to-day ope
X-Press Feeders launches intra-Europe service operated by green methanol-powered ships X-Press Feeders has chosen the Port of Klaipeda as part of a new shipping route served by container vessels powered by green methanol. On 16 September, a significant milestone in sustainable shipping was marked as the green methanol-powered ship Eco Umande made its inaugural entry into the Lithuanian port, beginning a new era of eco-friendly operations. This vessel will now visit the port every t
PIL launches direct service in China-Chittagong route amid capacity competition A vessel of Singaporean shipping company Pacific International Lines (PIL) berthed at Chittagong port jetty on Monday (16 September), only eight days after it left the Chinese port of Shekou in Shenzhen, under a direct service from China to Chittagong to provide fast service to Bangladeshi shippers. The vessel came with 935 TEUs, mainly carrying raw materials for Bangladesh's export-oriented garm
Trelleborg partners with Arkas Holding for advanced fleet modernization initiative Trelleborg Marine & Infrastructure, a provider of engineered polymer solutions for marine, infrastructure, and energy sectors, has partnered with Arkas Holding, a major player in Turkey's maritime and logistics industry, to boost fleet performance and lower carbon emissions. Trelleborg's TSX5 shaft power system will be integrated into Arkas' fleet performance software, enabling real-time monitori
Transpacific troughs as WCI registers double-digit dip even as market await clarity on possible strikes The Drewry World Container Index (WCI) registered its largest weekly fall in percentage terms since May 2020 at US$4,168, dropping over 13% for the week. The rates were led by the China-US East Coast rates on the downside with the trade lane registering a 21% decline in prices owing to the market sentiment on the possibly upcoming ILA strikes in the US East Coast and Gulf, which has lowered the d
Aarhus to compete for stronger position among North European ports, with either Maersk or MSC at the helm Container News conducted a competitiveness analysis to explore the dynamics between Aarhus port and other regional ports, in light of reported ongoing negotiations between the port authority of the Danish port with MSC. This analysis was conducted using a combination of quantitative data from 2019 to 2023, focusing on container throughput and port connectivity indices for Aarhus and two key ports
DP World's subsidiaries launch cloud platform for supply chain management DP World's subsidiaries - Community Network Services (CNS), a provider of digital trade solutions, and SeaRates, a developer of cutting-edge digital freight management services - have announced the launch of CNS Enterprise, an innovative cloud-based service suite designed to streamline logistics workflows within a unified ecosystem. CNS Enterprise offers users seamless management of customs and f
MSC increases rates from North Europe to North Med Swiss/Italian ocean carrier MSC has announced updated freight rates from North Europe, including NWC, Scandinavia and the Baltic, to the North Mediterranean region, including Turkey, Greece and the Black Sea. Effective from 1 October until further notice, MSC will apply the following rates (in €): If you liked this post, please consider donating The post appeared first on Container News .
ProfitRaw Review: Turn Forex Trading into a Full-Time Job With the evolving financial market, you should know when and how to make you move. It is the only way you can keep up with the global market. Among several other financial commodities, foreign exchange is turning out to be one of the most profitable products. With cryptocurrency and futures closer in the queue, forex market stands strong in the global trading market. ProfitRaw is such a brokerage
Konecranes upgrades forecast in earnings and net sales Konecranes has upgraded its sales outlook for 2024, citing continued strong delivery performance. The company now anticipates an increase in full-year 2024 sales compared to the previous year. The Finnish port equipment manufacturer expects its net sales to grow in 2024 compared to 2023 and forecasts an improvement in the full-year 2024 comparable EBITA margin compared to the previous year. In 20
CMA CGM updates dangerous goods additional surcharge from Europe to Latin America French ocean carrier CMA CGM has informed its customers of an update to the dangerous goods additional surcharge from Austria, Germany, the Netherlands, Belgium, the UK and Ireland, France (Atlantic), the Czech Republic and Hungary to Argentina, Brazil and Uruguay. Effective from 15 October 2024 (based on the loading date) until further notice, the surcharge will be set at US$166 per container, r
YouTube News Channel: How to Promote Content Using Life Streams If you carefully study the platform, its updates, functions, you will understand that YouTube is interested in the development of authors. Yes, that's it, even without using additional tools like YouTube Ads. Promotion is a necessary element in the development of the channel, and the more resources you connect to it, the better. Today we are talking about live broadcasts or streams. Visit our hom
Trade Routes in Turmoil: Valencia capitalizes on vessel re-routings, Gulf ports under pressure Theo Notteboom, a PortEconomics member, compiled data revealing container traffic trends at the top 15 container ports within the European Union during the first half of the year. Notably, Piraeus, one of the major Mediterranean ports, experienced substantial traffic losses. Notteboom attributed this downturn to the East Mediterranean becoming a maritime dead end following a dramatic drop in Suez
Prince Rupert Port Authority appoints new Board Chair The Prince Rupert Port Authority (PRPA) announced that Peter Lantin has been unanimously appointed as Chair of its Board of Directors for a two-year term, starting 1 July 2024. Lantin was first appointed to the PRPA Board of Directors by the Government of British Columbia in 2019 and is serving his second term as the provincial appointee. Throughout his time on the Board, he has held several key
Titanic builder Harland & Wolff heads for administration Harland & Wolff, the owner of the Belfast shipyard that built the Titanic, has announced that it would be entering into administration this week after failing to find new funding. Harland & Wolff said that the rejection of the company's request for a £200m facility from the UK government's export credit agency UKEF left the ...
Pilbara marks ammonia ship-to-ship transfer double A consortium led by Singapore-based Global Centre for Maritime Decarbonisation (GCMD) has carried out two ship-to-ship transfers of ammonia at anchorages within the Port of Dampier in a pilot project that reinforces the potential of the Pilbara region of Western Australia to be a green ammonia bunkering hub. The operation was conducted under strict safety ...
Highton picks up its first cape Chinese owner and operator Fujian Highton Development is further bolstering its dry bulk fleet with its first capsize purchase. The Shanghai-listed outfit said in a filing it had struck a deal to acquire the 2007-built 178,000 dwt Alpha Prudence, from Greece's Alpha Bulkers Shipmanagement for $24.75m. Established in 2009, Highton mainly operates in the supramax ...
Nexans seals Orkney interconnector deal Paris-based cabling firm Nexans has signed a contract with SSEN Transmission for the electrical transmission link project between the Orkney Islands and the UK mainland. The contract, which follows the capacity reservation agreement signed last November, covers both the production and the installation of the cable. The 220kV high voltage alternating current (HVAC) cable will ...
Maersk Supply Service orders newbuild for Cenovus' Canadian oilfield Danish offshore energy contractor Maersk Supply Service has been awarded a contract by Canadian oil and natural gas company Cenovus Energy for a field support vessel to support operations in the White Rose field. According to a statement by the company on social media, this newbuild vessel will be built by Crist S.A. in Gdynia, ...
Turkey's Capramar inks product tanker newbuilds in China In the coastal tanker segment, Turkey's Capramar Gemi Isletmeciligi has placed an order for four product carriers at Ningbo Xinle Shipbuilding in China. Brokers report deliveries from the third quarter of 2025, with the final 7,500 dwt newbuild to be handed over in May 2026. The Istanbul-based outfit lists 14 ships in its fleet, comprising ...
Dasin sells seven supramaxes Dasin, a Dalian-originated outfit working out of Singapore, is selling seven 57,000 dwt Hantong-built bulk carriers leaving it with just two ships in its fleet. All the ships are in the same age group: Mandarin Eagle was built in 2008. Mandarin Phoenix is slightly younger, built in 2010, Mandarin China, Mandarin River, Mandarin Hantong, and ...
Höegh LNG changes name Norway's Höegh LNG is rebranding to reflect its focus beyond liquefied natural gas terminals and towards energy transition infrastructure. The Erik Nyheim-led company will moving forward be called Höegh Evi (energy vector infrastructure) with a new logo and visual identity. Höegh Evi has been working on new floating infrastructure for ammonia and hydrogen, as well ...
Pelagic Partners sets up new venture with Fleetscape founder Tobias Backer at the helm Pelagic Partners has launched a new venture in London that seeks to bridge the financing gap in the shipping sector. The Cyprus-based owner and shipping fund manager has set up Pelagic Capital, which is designed to assist in building a dedicated credit fund and expanding the company into future projects. "The launch of Pelagic Capital ...
Burning Sounion now under tow Flanked by naval ships, the Sounion is on its third day under tow in an operation to avert one of the worst environmental catastrophes in the Red Sea. The tanker was hit by multiple projectiles from the Houthis of Yemen on August 21, with the crew evacuating and the Houthis then boarding the Sounion and ...
Shelf Drilling expands jackup fleet by acquiring Shelf Drilling North Sea United Arab Emirates-based jackup rig pure-play Shelf Drilling has announced that it would be merging with Shelf Drilling North Sea (SDNS) and with it enhancing its fleet. Under the plan of merger, SDNS will become a wholly owned subsidiary of Shelf Drilling. Shareholders of SDNS, who represent more than the necessary voting rights to approve ...
India woos Japanese and Korean shipyards The Indian government has been in touch with major shipbuilders in South Korea and Japan to encourage them to set up bases on the sub-continent in a move similar to how China advanced so rapidly up the shipbuilding ranks 20 years ago. The Indian government has made it clear it wants to become a top-five ...
EU approves $756m Belgian aid scheme to support offshore wind The European Commission has approved a €682m ($756m) Belgian scheme to support offshore wind energy to foster the transition towards a net-zero economy. The measure will support the construction and operation of the first offshore wind farm in the Princess Elisabeth Zone in the North Sea. The wind farm is expected to have a capacity ...
Russian oil cap in focus as prices plummet The Russian oil price cap is expected to make headlines in the coming weeks as oil prices approach the moment where shipowners from across the world can make the decision whether to legitimately carry oil exports for Moscow. The crude oil price cap, which came into effect on 5 December 2022, was implemented by the ...
Pax Ocean receives order for 10 MPSVs Kuok Maritime Group subsidiary PaxOcean has won a newbuilding contract with an unnamed Greek shipowner for 10 multi-purpose service vessels (MPSVs). Under the contract terms, PaxOcean 10 MPSVs will have 5,000 dwt capacity, DP2 dynamic positioning, and other the latest advancements in offshore vessel technology. The vessels will be built at PaxOcean's yard in Zhoushan, ...
MSC set to more than double its share of slot-sharing agreements Global liners last week announced en masse their schedules on the main east-west trades come February next year when old agreements expire and new groupings emerge. Among the key takeaways was how Mediterranean Shipping Co (MSC), the world's largest containerline, will not, as originally envisaged, be going it entirely alone. Over the past years as ...
Saipem wins huge $4bn deal from QatarEnergy Italian energy services contractor Saipem has been awarded an offshore EPC contract worth $4bn by Qatar's state-owned company QatarEnergy. The contract is for work on the North Field Production Sustainability Offshore Compression Program, aimed at sustaining the production of the North Field offshore natural gas reservoir, located offshore the northeast coast of Qatar. The Qatari ...
Burning tanker Sounion successfully towed to 'safe area' Naval forces and salvors have completed a critical step in the complex task of avoiding a catastrophic oil spill from...
LNG shipping rates are falling when they should be seasonally rising LNG carrier spot rates are down double digits month on month, to just a fraction of last year's levels. Period...
Daily Briefing IUMI 2024: Marine premium volumes up across all major classes, IUMI told | Houthis have capability to sink ships but...
Pelagic Partners revives Oaktree strategy to launch capital fund Although the Pelagic fund has no target, 'you need to be a billion [dollars] plus to be meaningful in this...
Canadian shipbuilder Davie appoints new president 'Maxie will ensure Davie continues to deliver on its promise to support the ambitious shipbuilding programmes of Canada and our...
Oceanbird makes headway with Wallenius Wilhelmsen wind-powered vehicle carrier While testing of Oceanbird wingsail prototype continues, the tender design for the construction of the first wind-powered vehicle carrier nears...
The week in charts: Container rates plunge further | Long Beach August volumes shatter records | China's dry bulk demands defy economic challenges Freight rates from Shanghai to the US east coast may have declined even more than the index indicates, the port...
IMO plans to host families of captive Galaxy Leader crew The International Maritime Organization will invite to London families of the crew of detained car carrier Galaxy Leader, held hostage...
Supply chains now face regular periodic shocks, says AP Moller Maersk risk chief NotPetya, coronavirus, the grounding of Ever Given, the Ukraine situation and the Houthi campaign against shipping are just some of...
Marine premium volumes up across all major classes, IUMI told The year 2023 was 'positive for underwriters', says Cefor statistician Astrid Seltmann, with the UK showing growth
Support needed to boost Asia-Pacific LNG bunkering The Asia-Pacific region's price sensitivity and the lack of required support and investment to grow mean its LNG bunker vessel...
HSFO and alternative fuels boosted Singapore bunkers in August Total bunker sales up year on year despite weaker VLSFO sales as HSFO, LNG and biofuel-blends record an increase
Konstantakopoulos contracts up to 10 new offshore vessels as Marinakis ups Capital Offshore orders Contract for 'innovative' MPSVs at PaxOcean yard extends private offshore move begun by Costamare-linked shipping family last year
The week in newbuildings: Gas and offshore sectors dominate The number of firm shipbuilding contracts was relatively low in comparison to previous weeks but was high in value terms...
Political complications could reduce opportunities for marine insurers, IUMI conference warned Underwriters have had to factor in not just Black Sea and Red Sea war risk, but Sudan civil war, the...
Cosco confirms two LNG carrier newbuilds at Dalian Shipbuilding for $488m CSET had previously announced that its board had approved the newbuildings with a budget of $509m. The move is part...
Container rates plunge further amid early peak season wind down Freight rates from Shanghai to the US east coast may have declined even more than the index indicates. There is...
Maritime employers prep for wind-down of operations as longshore strike looms Ports and ocean carriers are now figuring out the playbook for how to handle what would be the first strike to hit the US East and Gulf coasts in nearly half a century.
Global MPV indices diverge despite relative market stability The MPV sector is seeing a period of stability in charter rates and cargo demand after a period of intense routing disruptions linked to the militant attacks on commercial shipping in the Red Sea.
Ocean carriers appear willing to roll the dice on possible US port strike Carriers tell the Journal of Commerce they would prefer to avoid a strike and the lengthy operational upheaval a stoppage would cause along the East and Gulf coasts, but unlike in the past, they feel no urgency to get a deal done, writes Peter Tirschwell.
Lure of robust Asian peak season a magnet for air cargo capacity Sustained demand for air cargo on the trans-Pacific and Asia-Europe trades, and the promise of rising rates through the end-of-year peak, are encouraging airlines to pull capacity from less lucrative lanes.
Campaigns should show that shipping is a 'very sexy' industry, says Hapag-Lloyd executive Industry experts outline the need to change perceptions of the sector to attract new recruits
Burning Greek tanker towed to safety in the Red Sea without oil spill Next step in complex salvage effort will be to put out the flames on the deck of the Delta Tankers suezmax
Loose wire theory boosts shipowner in US liability battle over bridge collapse Legal battle is expected to rumble on for a decade over who will pay
Royal Caribbean in the market for $1bn in unsecured bonds Seven-year notes would refinance debt, including last piece of secured financing
London still calling: Finance veteran seeks to remain at the heart of the credit action after Pelagic switch Experienced financier is staying in vital financial hub of London with new operation
Successful ammonia transfer involving major shipping names marks 'crucial step' for bunkering Global Centre for Maritime Decarbonisation-led coalition aims to pay the way for green iron ore shipping route
Floating LNG starts to come of age as in-service units show results Offshore LNG production expected to climb to over 50 mtpa by 2030
Davie hires new president from outside shipbuilding sector to pursue growth Former Bus.com chief executive to work with James Davies to expand
Marine insurance premiums up across board in good year for underwriters Insurance industry benefits from increased trade and low claims - but concerns over fires on ships remain
'No party yet': VLGC rates slump as 'extraordinary' terminal fees take chunk of profit Analysts and owners say cargo interests are in the driving seat in spot market
Costamare and Danaos cash in on hot charter market to ink long-term deals with liner giants Falling freight rates are not stopping liner operators from fixing boxships into 2025
London still calling: Finance veteran seeks to remain at heart of credit action after Pelagic switch Experienced financier is staying in vital financial hub of London with new operation
Crude tanker invasion of product markets takes big toll on LR2 rates While the trend is not expected to stretch into 2025, cleaned up crude tankers are having an impact now
Western governments powerless to stop Houthi attacks and end Red Sea crisis, insurers told Decline of globalisation and rise of nations challenging US supremacy are creating a dangerous new world for shipping
Titanic shipbuilder Harland & Wolff to file for administration as Rothschild reviews sales options Historic UK shipyard said it is about to initiate insolvency proceedings
Major shipowners are buying their own stock dip to boost shareholder returns Clarksons Securities says repurchase schemes have been immediately beneficial for investors
Sinokor sells one of the world's oldest LNG carriers for scrap after years in lay-up Laid-up vessel was not reactivated or traded in the seven years since purchase
Western tanker owners set to benefit as price of Russian crude falls. Here's why Poten & Partners argue that approved G7 price-capped cargoes would support the freight market and marginalise shadow fleet players
Gard sees 'robust' first half as P&I claims 'better than expected' Normalising markets helping Norwegian club to $33m technical profit in first six months of 2024
Houlder warns of slow steaming 'swizz' as owners seek quick eco fix Maritime consultancy says running engines below optimum levels can have unforeseen costs
Athenian Sea Carriers tipped for VLCC sale to complete chemical tanker transformation Greece's Kyriakou family believed to have offloaded its last crude tanker
Norden to supply miner BHP with biofuel for long-haul capesize voyage Fuel will cut vessel emissions on the voyage by the same volume as 543 road vehicles emit per year
Consultant linked to Globus boss Athanasios Feidakis banking $3m bonus for newbuildings Greek owner reveals payment dependent on CEO remaining in his role on delivery
Greek owner Alberta breaks into baby-cape market with latest bulker buy from Japan Inglessis family outfit buys its third Japanese-built bulker in a year
Bernhard Schulte chartering manager joins North Star to lead European push Ambitious Scottish offshore wind shipowner builds team with recruit in Hamburg
Battle lines drawn in court fight over deadly Danaos container ship fire Charterer Cosco unit wants the Greek owner to pay for claims against it
Greek shipowner orders up to 10 offshore vessels in major new deal at Kuok Maritime's Pax Ocean Singapore shipbuilder says agreement is a significant milestone as offshore vessel contracting makes a comeback
What's in a name? Hoegh Evi president & CEO Erik Nyheim explains Floating green ammonia to hydrogen and CO2 storage and offloading units set to become realities this decade
Hoegh LNG switches name to Hoegh Evi in move to energy transition solutions Floating LNG infrastructure remains key but company is adding focus on ammonia, hydrogen and carbon capture to mix
Hedge fund tycoon Ray Dalio brings shipowner Chavalit Tsao into research ship operator OceanX Shipowner's No.17 Foundation and OceanX to jointly develop new approaches to ocean research and conservation
Salvage armada starts towing stricken Delta Tankers vessel in Red Sea Two Megatugs vessels participate in effort to prevent environmental disaster
Geopolitical strife biggest threat to global shipping routes, warns IUMI chief Houthi attacks on laden tanker highlight changing tactics of the rebels in Yemen
Supramax bulker specialist Fujian Highton breaks into capesize market with Alpha Bulkers deal Shanghai-listed shipping company has acquired the 178,000-dwt Alpha Prudence (built 2008)
Yangzijiang Shipbuilding acquires 34% stake in Japanese-owned rival Partnership aims to drive decarbonisation inshipbuilding and shipping
NYK eyes 120-LNG vessel fleet to operate beyond the green transition Masami Okubo also alert to investing in operational staff
Does the ILA have a point in objecting to automation? FreightWaves examines the International Longshoremen's Association's concern with port automation and its effects on global port competitiveness.
Employers: Still time for East Coast port deal East and Gulf Coast port employers insist a new union contract is still within reach before an Oct. 1 strike deadline, and urged the International Longshoremen's Association to return to the bargaining table.
Salvage begins on burning tanker attacked in Red Sea Salvors began towing the Greek-flagged tanker Sounion, still burning from attacks by Houthi militia in late August. The vessel became a symbol of civilian shipping targets that have led container and other vessel operators to detour around the region.
Australian freight sector welcomes approval of third runway in Melbourne Melbourne Airport is moving ahead with plans to build a third runway, which is expected to increase the competitiveness of shippers in the region.
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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