free news

web site

OCTOBER 17, 2024

Cargo Shop 2024 - Shippers & LSP Forum to see comprehensive, engaging deliberation in Vadodara today Minister launches district master plan for infra under PM GatiShakti India, Africa trade $200 bn by 2030, says Barthwal Applicability of Para 4.08 (ii) of HBP in case of inputs being procured by Advance Authorisation Holders from units located in SEZ US FMC monitoring the supply chain closely at all major terminals along US East and Gulf Coasts Andhra invites EoI for port construction, operation, maintenance DPA, Chairman honoured at Kutch Business Excellence Awards 2.0 KPSAA elects new Office Bearers for 2024-25 Palm oil imports dip in Sept. GRSE inks pact for delivery of 5th multi-purpose vessel Basmati rice exporters see slowdown, payment issue from Iran CBAM unilateral, arbitrary; hurts India's exports, says Minister China's GDP seen slowing further in 2025: World Bank India's export of petroleum dips by 2 pc in April-August You Ask We Answer India, Russia working group discusses new initiatives for Northern Sea Route

free news

web site

OCTOBER 17, 2024

MAN starts deliveries of its heavy duty e-trucks Targeting the peak cashew season Partners in line with Saudi Arabia's Vision 2030 ELL to augment its fleet to over 300 Vectrons PIL names two LNG dual-fuel vessels A debut in Dubai Logistec picks CCO to accelerate growth Embraer's e-freighter now certified "Curiosity of the Day" Clever combinations are green and efficient A new maritime route via Colombo Yusen selects WMS for UK hub L.I.T. Air & Sea expands management team

free news

web site

OCTOBER 16, 2024

A Trump presidency would put pressure on ocean rates and Asian exports Air cargo market enjoys some calm before an expected Q4 storm Lean and mean JB Hunt sparkles, surges, but value!? Box ship transits through Panama Canal hold steady, despite drought limits DP World buys 47,000 teu of containers to boost 'end-to-end' ambitions Out-of-fashion LNG now the favourite fuel for new containerships

free news

web site

OCTOBER 16, 2024

Navy demos breakthrough TRAM rearm at sea method The U.S. Navy says that it has achieved a breakthrough in combat readiness. This month, it successfully demonstrated the Transferrable Reload At-sea Method (TRAM) on an underway warship in open ocean for VIDEO: Mass Maritime takes custody of TS Patriot State Within days of its delivery to MARAD by Philly Shipyard, the TS Patriot State, the second of five new purpose-built, state-of-the-art NSMV training vessels for America's state maritime academies arrived at Massachusetts

free news

web site

OCTOBER 16, 2024

WinGD offers new LPG-ready option for ammonia operators Swiss marine power company WinGD has introduced an option for its X-DF-A ammonia-fuelled engines to be delivered capable of running on liquified petroleum gas (LPG). The 'pre-fit' solution will be of particular interest to vessels under construction for the anticipated global trade in ammonia, which will also be capable of transporting LPG. Dubbed the X-DF-P, in reference to propane-the main comp CMA CGM implements peak season surcharge from North Europe to Central America and Caribbean French ocean carrier CMA CGM has announced a new peak season surcharge (PSS) from North Europe, excluding Portugal, to the East Coast of Central America, the Caribbean, Guyana North Brazil, Windward and Leeward, excluding St Maarten and Gustavia. From 7 November (14 November for Puerto Rico, Venezuela, Colombia and Virgin Islands destinations), and until further notice, CMA CGM will apply a surch No turning back from shift towards fleet renewal Vessel ordering is continuing apace with Hapag-Lloyd confirming it is negotiating with yards for a 24-ship order and Maersk's rumoured order of 22 LNG dual fuel vessels worth in excess of US$4 billion. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Mary Anne Evans Correspondent at Large If you liked this post, please consider donating The post appeared fir Efficiency boost at APM Terminals Gothenburg amidst expansion project APM Terminals Gothenburg has effectively managed the challenge of staying agile during a significant port expansion, helping 96% of the 70% of vessels arriving out of their appointed timeslots to depart on time. This efficiency is further enhanced by the Swedish terminal's innovative approach to optimizing terminal handling equipment routing, which has reduced driving distances by 30% for exports Hapag-Lloyd applies new PSS from Türkiye to Morocco German container line Hapag-Lloyd has announced a new Peak Season Surcharge (PSS) for shipments from Türkiye's Istanbul and Gemlik port to the port of Casablanca in Morocco. The surcharge will be effective from 1 November until further notice. The new PSS will be US$300 per TEU and US$350 per FEU, while it will be applicable to all cargo and equipment types. If you liked this post, please conside Inferno in Hong Kong container yard damages 10 boxes More than 10 containers were damaged in a fire that broke out in a container storage yard in Hong Kong's Yau Ma Tei district on 14 October. The fire, reportedly involving plastic materials, broke out around 5.06 pm local time and took 14 hours to be brought under control. No injuries were reported. Hong Kong Fire Services Department said the fire involved about 10 containers in the Yau Ma Tei Pub Top-5 Container Ports in South America [Graphs & Analysis] This presentation delves into the dynamics of South American ports, presenting a comprehensive overview of their operational scale and connectivity. It is useful to follow up on the volumes recently handled by the South American ports in order to have a perspective of the strength of each port and the changes observed between them. By examining the total volumes in terms of TEUs and connectivity Evergreen/Wan Hai joint service calls Mindanao Container Terminal for first time The 2020-built, 2,000 TEU container ship Ever Core was the first vessel deployed on a new joint service by Taiwan's ocean carriers Evergreen and Wan Hai, which called at the Mindanao Container Terminal (MCT), International Container Terminal Services, Inc.'s (ICTSI) operation in Cagayan de Oro, Philippines. ICTSI believes the new bi-monthly service enhances MCT's connectivity with key internation Saudi Arabia and Hamburg to jointly propel port innovations Saudi Ports Authority (MAWANI), Hamburg Port Authority (HPA), and HPC Hamburg Port Consulting (HPC) today (16 October) signed a Memorandum of Understanding (MOU) during the IAPH World Port Conference in Hamburg, Germany. This cooperation is expected to propel innovations in port operations, port development, and workforce capacity building. The agreement signals a shared vision for tackling impor India's Port Consortium: Strengthening Global Reach or Countering China? The recent development of the new Indian consortium formed by Ports Global Ltd (IPGL), Sagarmala Development Co Ltd (SDCL), and Indian Port Rail and Ropeway Corp Ltd (IPRCL), underlines something more than meets the eye. The consortium, supported by the Indian government will mainly target development opportunities along key corridors that serve India's national interests. This business model aim Freightos reports lower East Coast congestion as strike backlogs are cleared Hurricane Milton battered the west coast of Florida last week. Power disruptions kept the Port of Tampa Bay closed until Monday, while ports in Miami and Jacksonville resumed operations before the end of last week. The Port of Savannah, which was still facing a backlog from Hurricane Helene in September, will require another two weeks to restore full fluidity as the three-day ILA port strike adde Portico Shipping secures significant investment in Portsmouth's major cargo terminal UK terminal operator Portico Shipping has secured a GB£20 million (US$26 million) investment for Portsmouth's major cargo terminal. Portico Shipping's owner Portsmouth City Council has approved the investment proposal, which followed an independent report of Portico's business, which concluded that capital investment would provide the best financial return for the Council, forecast to be GBP£30.1 Newbuilding frenzy effects greater than Suez Canal restoration Maersk has warned that the reopening of the Suez Canal could cause a meltdown as schedules falter, but this would likely be a temporary effect, with ships heading around the Cape meeting vessels in Europe that had transited the canal. Scheduling challenges will occur, but more serious are the effects of the oversupply of capacity that shipping lines have seemingly failed to address. This content Carrier Transicold introduces new series of reefers Carrier Transicold unveiled its next-generation intelligent refrigeration units at REFCOLD 2024 in Kolkata, India. The innovative Supra A and Citimax D series aim to transform the cold chain industry through advanced technology and improved efficiency. The Supra A series is a solution that enhances both efficiency and compactness, compared to previous Supra truck refrigeration units. The Supra A How to Avoid Counterfeit Goods from Overseas Distributors More than ever, wholesalers in China and other overseas nations are selling products online and shipping them direct to consumers - either through their own websites or through popular marketplaces like Amazon and eBay. That trend has put a bit of a hamper on domestic resale businesses because those businesses effectively sell the same goods for a bit more. If you operate a domestic resale busine New Director for POLB's Communications and Community Relations Division The Long Beach Board of Harbor Commissioners named Stephanie Montuya-Morisky, a former assistant director of communications for the Port of Long Beach (POLB), to lead the Californian Port's Communications and Community Relations Division as director. The Communications and Community Relations Division informs and educates the public, media and industry about POLB's multibillion-dollar modernizati Port of Newcastle proceeds with Clean Energy Transition project The Port of Newcastle has achieved a significant milestone in its Clean Energy Precinct (CEP) initiative, securing agreements to proceed with Front End Engineering Designs (FEED) and Environmental Impact Statements (EIS). These agreements are funded by a US$100 million grant from the Commonwealth Government. CEO Craig Carmody, alongside Federal Member for Newcastle Sharon Claydon MP, marked the o

free news

web site

OCTOBER 16, 2024

Nordic American Tankers seals five-year suezmax charter Suezmax specialist Nordic American Tankers (NAT) has secured long-term employment for one of its vessels The New York-listed firm did not disclose the name of the vessel or the charterer but said the unit has been fixed to a "major international energy company". The contract, effective from November this year, is for five years at ... Germany's Bernd Sibum books four newbuilds at Damen Germany's Reederei Bernd Sibum has signed up for four battery hybrid-ready combi freighter newbuilds at Dutch shipbuilder Damen. The family-owned shipping company's debut order at Damen will see the so-called CF 3850 series delivered in early 2026. The ships have been designed to boost the sustainability, efficiency, and lifespan of Bernd Sibum's fleet, the shipbuilder ... USAID provides funding to fight maritime corruption in major ports The Maritime Anti-Corruption Network (MACN) has received two-year project funding from the US government's development agency USAID to help in the fight against transnational maritime sector corruption. These funds are part of USAID's 'Doing Business with Integrity' activity and the collaboration will be part of its 'Countering Transnational Corruption Grand Challenge for Development'. This initi New Indian coastal shipping bill designed to strip red tape India's cabinet has today approved the Coastal Shipping Bill, legislation designed to cut red tape for shipping operations across the world's most populous nation as well as better integrating inland waterway shipments with coastal shipping. Indian shipping stocks surged today on news of the bill heading to the cabinet for approval. New Delhi has been ... SSY brings in Sea1 Offshore duo London-headquartered shipbroking group SSY is strengthening its offshore vessels division with two new hires joining from Norway's Sea1 Offshore, formerly known as Siem Offshore. Andreas Hageli and Thomas Kittelsen will join the company in January to focus on subsea vessels and special projects. Hageli was a chief commercial officer at the company, and Kittelsen was ... SR Shipping takes fleet to 20 vessels A string of Bangladesh bulker owners has been bidding for bulker tonnage of late. One of these is SR Shipping, a subsidiary of Kabir Steel Group, which is actively expanding and modernising its fleet. Recent SR acquisitions include two 12-year-old supramax vessels, one built by Kawasaki Heavy and the other by Tsuneishi Cebu. The new ... Perdana Petroleum bags AHTS deal Malaysian OSV operator Perdana Petroleum has revealed a new contract and a charter extension for one of its anchor handling tug supply (AHTS) vessels. The Bursa Malaysia-listed company said its subsidiary Perdana Nautika had bagged a charter contract end-August from RUHM Marine for an original period of up to 45 days. RUHM Marine has since ... Ignitis looking for partner in Lithuania's second offshore wind round State-owned Ignitis Group has decided to participate in Lithuania's second 700MW offshore wind tender and to seek partners to develop the project. According to the company, it will look to participate in the country's second offshore wind tender for rights to develop an offshore wind farm in the Baltic Sea with a partner which would own ... New Delhi selling stake in the country's top yard The Indian government is offloading a stake of up to about 5% in shipbuilder Cochin Shipyard. The base size of the offer has been set at 2.5%, amounting to about 6.6m shares, with an option to sell an additional 2.5% stake. The floor price of R1,540 ($18.3) was close to 8% discount to the stock's ... Red is the new black for PIL Pacific International Lines (PIL) has gone from black to red again, but this time in hull colour, not on its balance sheet. Singapore's largest homegrown containerline, which underwent significant restructuring at the start of the decade, yesterday named its largest ships in its 57-year history, the LNG-powered newbuilds sporting red-coloured hulls as part of an ... Terminal operator DP World buys 47,000 containers For the first time, terminal operator DP World has acquired 47,000 teu that have been registered and branded to the company. "This acquisition provides DP World's customers seamless access to critical container capacity, ensuring that even during periods of peak demand or unexpected disruptions, they have the ability to keep goods moving," the company stated ... Medkon takes five Contships vessels Turkey's Medkon Lines has bought five 966 teu sisters ships - all built in China between 2005 and 2007 - from Greek tonnage provider Contships Management. Alphaliner is reporting the Contship Ana, Contship Max, Contship Pep, Contship Quo and Contship Bee have changed hands for an en bloc price of $37.5m. Alphaliner believes that Medkon ... Baker Hughes to supply equipment for Angolan FPSO project Nasdaq-listed oilfield services major Baker Hughes has been awarded a contract to supply advanced compression solutions to Saipem for TotalEnergies' Kaminho FPSO project in Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line (ICL) technology to minimise emissions from the project, eliminate routine flaring, and reinject associated gas into the reservoir LNG firmly back in favour above methanol among containerlines contracting this year The resurgence in LNG dual-fuel ship orders over methanol has been a strong theme in newbuild contracting this year. In no sector has this been more prominent than in container shipping where methanol and LNG have swapped positions in 2024. "LNG propulsion has re-asserted itself as carriers' principal short-to-medium term choice on the path to ... Dhaka warns maritime stakeholders to avoid sanctioned ships and cargoes In the wake of a severe blaze off its coastline over the weekend (pictured) the Bangladeshi government has told local companies to avoid working with sanctioned ships and cargoes. A 32-year-old LPG carrier that caught fire off Bangladesh five days ago was found to be carrying sanctioned Iranian gas, according to investigations carried out by ... Captain's Table finalists announced The finalists for the 2024 edition of The Captain's Table have been announced. One of the world's premier maritime tech pitch competitions, the finals will take place in Hong Kong on November 21 and will be broadcast live on Splash. This year's six finalists are Anlan Technology, a marine hull and cargo insurance tech firm; ...

news on subscription

web site

OCTOBER 16, 2024

Robust September propels Port of Long Beach to record quarter Port of Long Beach continued to see strong volumes in September, driven by holiday-related goods and a pull-forward ahead of... Panama Canal Authority hiked profits amid historic drought despite declining transits Crises often create change. Such was the case with the Panama Canal drought. Panama Canal Authority administrator Ricaurte Vasquez Morales... Bangladeshi authorities sound alarm on 'sanctioned cargoes' after double ship blaze After major fires broke on two gas tankers during a ship-to-ship transfer of suspected Iranian cargo, the Bangladeshi government is... Daily Briefing Iranian claims mistaken identity over UK insurance firm links to sanctioned tankers | How the ascent of oil majors' trading... How the ascent of oil majors' trading desks is hindering construction of new Jones Act tankers Lack of appetite to construct new Jones Act tankers extends beyond the alternative fuel conundrum, Capital Link forum hears Busy period for secondhand boxship sales as multiple deals concluded MSC is continuing to pick up secondhand tonnage to replace elderly ships while Chinese buyers are said to be buying... Californian port majors come out trumps in transpacific alliance shake-up Los Angeles/Long Beach and Californian compatriot Oakland will hit new transpacific call quota highs when new container line loops start... DP World buys 47,000 containers to increase capacity The Dubai-based company is continuing to invest in the logistics side of its business, as well as operating some of... Continental marine brokers overcoming Brexit disruption to intermediaries Loss of Bayesian will have market effect beyond superyacht niche, Francesco Dubbioso, head of technical underwriting, marine, Alta Signa, believes Iranian claims mistaken identity over UK insurance firm links to sanctioned tankers Fixed premium provider The Pacific Maritime Club says it has the backing of the 'central government' and claims to the... IMO secretary-general tells industry to be proactive in rule-making process Speaking at the Wista AGM in Cyprus, Dominguez called on shipping to share its experiences with the regulator as it... Cosco Shipping Energy Transportation to boost integration via in-group acquistions The transaction, which consolidates energy and chemical transport resources at CSET, is valued at nearly Yuan1.3bn Panamax bulker values drop as buyers exercise caution China's stimulus package has created an expectation of future demand growth and could act as a buffer against any significant... Türkiye's container transhipments rise further Transhipments made up more than 20% of Türkiye's total container traffic, as four key ports posted sharp increases No appeal planned on High Court verified gross mass ruling Improved systems at Maersk would probably now pick up a discrepancy between declared and actual weights IEA predicts 'wave of new LNG' to hit market An increase of nearly 50% in the global LNG supply is 'on the horizon', the International Energy Agency's World Energy... The rise of sellers' pre-sale inspections in vessel sale and purchase transactions UK-based Idwal has shaken up the ship inspection sector with its pre-inspection service for vessel sellers. It is now furthering...

news on subscription

web site

OCTOBER 16, 2024

LA-LB rail dwells spike to two-year high amid record imports in September Forwarders say their containers are sitting at some terminals for 10 days or longer before they can be retrieved, though some relief in import volumes and dwell times is expected next month. Softening export demand sends ocean rates crashing on India-Europe trade Spot rates on the westbound route, India's largest trade lane by volume, have nearly halved in the last two weeks, according to new data obtained by the Journal of Commerce. SC Ports' chief outlines plans for Charleston to hit 10 million-TEU mark Barbara Melvin says 2024 hit Charleston in unexpected ways, but the full reopening of the Leatherman terminal was a major achievement for the port's future expansion.

news on subscription

web site

OCTOBER 16, 2024

Fujian Guohang exercises $150m options to double order for methanol-ready bulkers Chinese owner adds four more kamsarmaxes at domestic shipbuilder VLGC spot rates shed 16% amid fixture slowdown and sentiment pullback Middle East market hangs on Saudi Arabia while charterers bide their time in the Atlantic 'Compelling narrative': Brazilian iron ore exports offer ray of hope amid falling capesize rates Signal Ocean analyst says rising exports and congestion could lift market European sanctions fail to stop dark fleet tankers shipping Russian oil. For the US, it's a different story Data analyst says impact of US activity targeting shadow fleet shipping far outstrips European efforts Ship repair company seeks to throw out Foremost Group asset seizure in legal spat Axion Management says frozen funds were not within New York court's jurisdiction German owner Amadeus charters new wind-assisted De Bock cargo ship for ageing shortsea sector German owner boosts fleet as European demand grows Crude tankers continue incursion into product trades as rates continue to struggle Summer phenomenon continues into autumn with LR2s suffering the most Is shipping responsible for mysterious 'gooey blobs' washing up in Canada? Scientists baffled by origin of strange pale objects found on beaches George Economou asks court to block Seanergy Maritime vote as legal fight takes fresh twist New York-listed bulker owner says filing is another 'self-interested' attempt to gain control Chinese shift to LNG-powered trucks shakes up global tanker markets More LNG demand is good for owners in that sector, but a negative indicator for tankers Delta Corp locks horns with Dubai trader in $31m charter dispute New York asset seizure lawsuit follows London arbitration after cargoes fail to materialise Geopolitical turmoil hitting global drive to cut shipping emissions Annual energy report warns of the impact of a full stop of traffic through the Red Sea Capesize spot rates slide 8% in a day as Chinese sentiment strains market Basket assessment received a hefty cut as spot market continues to sink EU ministers debate fresh moves to curb Russian LNG as imports rise Stricter monitoring mooted ahead of March 2025 transshipment ban German owner Bernd Sibum doubles fleet with hybrid cargo ship order Damen Shipyards to build four combi freighters for delivery in 2026 Shell lights up LNG bunker vessel market with multi-ship newbuilding play Large number of owners invited to offer as fears expressed that energy major may play hardball on bids Dash for gas lifts LNG to over half of 2024 container ship orders Methanol orders fall below even conventional powered boxships on supply concerns Lomar Shipping bosses take home less pay from ship management company as loss grows Shipowner's UK-based division hit by lower commissions on lease contracts and ship sales New banking rules to focus lenders on shipowners' reputations, lawyer says Stephenson Harwood expert explains how Basel IV regulations will reshape shipping finance Shares in India's Cochin Shipyard fall as Indian government sells off $240m stake Two-day stock offering aimed at boosting trading liquidity in bulker and offshore vessel shipbuilder Capesize newbuilding orders about to hit a six-year high, says SSY Low scrapping is helping to support net fleet growth too Wah Kwong bulker arrested in cargo shortfall scuffle with fertiliser firm Indian Potash Case involves yet another legal dispute involving a cargo discharged against a letter of indemnity Cido Shipping VLAC debut deal pushes newbuilding spending close to $3bn mark Shipowner moves into a new arena with $250m HD Hyundai Group deal New Mediterranean fuel rules will boost product tankers as very low-sulphur fuel oil demand wanes, Gibson says UK broker sees opportunity for vessels to bring compliant gasoil in from the US and Middle East 'You have the power to change the world': Cargill's Jan Dieleman urges leaders to embrace risk in green drive Opening of Global Maritime Forum annual summit in Tokyo hears Cargill shipping boss urge leaders to use their power and influence SSY hires well-known offshore pair as it targets subsea business Duo joins from Sea1 Offshore, previously known as Siem Offshore Nordic American Tankers banking at least $64m through five-year suezmax charter Herbjorn Hansson-led owner locks in vessel with energy major Stimulus spur and coal keeping the lights on: Norden bets on 'resilient' Chinese economy Company sees more synergies between bulkers and project business Latsis venture Marla Tankers doubles its money on sale of LR2 pair Greek asset-player flips sister ships for about twice the money it spent to buy them six years ago US sanctions expansion could turn the screws on Iran's petrochemical sector Maritime lawyer says Biden administration move shows ramping up of attention on Tehran Citi's Michael Parker calls for shipowner emissions data to be made public Poseidon Principles chief says true impact of IMO's decarbonisation rules and green financing to be seen in two to three years