Houthis target Vietnamese-owned tanker, threaten attacks in Indian Ocean The situation in the Red Sea gets no calmer. Today brought a report from UKMTO of a Houthi attack on a merchant vessel 76 nautical miles west of Al Hudayah. While UKMTO
New Ulstein SX232: A subsea vessel for all markets Seeing a "surge of optimism" in the offshore service vessel market, Ulstein has unveiled a design for a new subsea vessel, the Ulstein SX232, to serve both the fixed and floating offshore
Wärtsilä inks lifecycle agreement for new P&O Ferries The world's largest double-ended ferries, U.K.-based P&O Ferries' 230-meter long M/V Pioneer and M/V Liberté, will be covered by a five-year lifecycle agreement with Wärtsilä. The agreement is designed to optimize the
Chouest and Maersk Supply partner up on U.S. offshore wind installation Edison Chouest Offshore (ECO) and Maersk Supply Service are partnering up for the construction and operation of a Jones Act compliant offshore wind installation feeder concept. Specifically designed for Maersk Supply Service's
PortMiami enters new era handling CMA CGM's 15,000 TEU vessel PortMiami greeted the arrival of the CMA CGM Bali on 11 March 2024. With a capacity of 15,000 TEUs, this container ship operates along the Manhattan Bridge shipping route, linking China to East Coast ports in the United States via the Panama Canal. "The arrival of the Bali confirms that PortMiami can welcome larger vessels. This ship symbolizes a new era in transportation by combining innovation
CMA CGM announces overweight surcharge from South America East Coast French box carrier CMA CGM has announced a new overweight surcharge (OWS), which will be effective from 1 April 2024 until further notice. This surcharge will be applicable for cargo originating from South America's East Coast and destined for North Europe, Scandinavia, Poland, Baltic States, Adriatic, Black Sea, East & West Mediterranean, Middle East Gulf, Red Sea and Pakistan. CMA CGM will char
DP World invests US$50 million in new logistics centre in South Korea DP World has announced a US$50 million investment to develop a new logistics centre in South Korea's Busan New Port. The construction works on the 75,000m² land are expected to commence at the end of 2024, with operations anticipated to start by the second quarter of 2026. The DP World Busan Logistics Centre (BLC) will have the capacity to process nearly 80,000 TEUs of cargo per year by 2028 and
Global tank container fleet nears 850,000 units: ITCO annual survey The International Tank Container Organisation (ITCO) has published its 12 th Annual Tank Container Fleet Survey. This year's Survey estimates that, on 1 January 2024, the global tank container fleet had reached 848,400 units worldwide, compared to 801,800 on 1 January 2023, a year-on-year growth of 5.81%. Reflecting continued strong demand for new equipment, approximately 56,600 new tank containe
APM Terminals appoints new leaders in the Americas and Mexico region APM Terminals has named Marliz Bermúdez as the new head of investments for the Americas Region and Beatriz Yera as the managing director for APM Terminals in Mexico, effective from 15 April 2024. "With the appointment of Marliz Bermúdez as Head of Investments for the Americas and Beatriz Yera as Managing Director for APM Terminals Mexico, we continue our mission to lift efficiency, reliability an
Virginia prevails over Georgia and North Carolina for FreezPak Logistics new cold storage facility Governor of Virginia, US, Glenn Youngkin announced that FreezPak Logistics, a provider of full-service cold and dry storage services, is investing US$77.5 million to construct a 23,000m² cold storage facility in the City of Suffolk to serve the Mid-Atlantic region via the Virginia port. According to a statement, Virginia competed with Georgia and North Carolina for this project, which is expected
How to prevent accidents in the maritime industry The maritime industry is a crucial component of global commerce, facilitating the transport of over 90% of the world's trade . However, due to the nature of the work involved, the sector is at risk from serious hazards including unpredictable weather, mechanical failures and human error, making accident prevention a vital concern. There are multiple key strategies that should be adopted to mitiga
Massive increase in container shipping imports from China into Mexico amid ongoing US trade war: Xeneta analysis Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a 'back door into the US'. This is now one of the strongest trade lanes in the world according to analysts at Xeneta, an ocean freight rate benchmarking and intelligence platform, with 117,000 TEU (20ft equivalent container) s
Cape and Indian Ocean now in Houthi operational range The extent of the failure of the allied powers to degrade the Houthi Military capabilities may come into sharp focus if the Yemeni movement makes good on its threat to expand its sphere of operations from the Indian Ocean down to the African Cape. Over the last 24 hours US Central Command, CENTCOM, reported that the US Navy had destroyed four anti-ship ballistic missiles, two fired towards the Re
We Asked AI: The Largest Container Port in 2050 Container ports are continuously expanding, capable of accommodating numerous giga container ships simultaneously. Have you ever wondered how the largest container port might appear 26 years from now? We tasked an Artificial Intelligence (AI) system to create a visualization of such a mega port, and below are the remarkable results! Click into the gallery to appreciate the impressive images in a
MPC Capital doubles shareholding in MPC Container Ships German asset and investment manager MPC Münchmeyer Petersen Capital AG (MPC Capital) has increased its shareholding in Oslo-listed MPC Container Ships ASA (MPCC) from around 7% to around 14%. The transaction is carried out by way of increasing MPC Capital's shareholding in MPC CSI GmbH (MPC CSI), which was established in 2017 as a joint investment vehicle for the IPO of MPCC under the leadership
Hupac enhances intra-Europe rail network Hupac, an intermodal rail operator headquartered in Switzerland, is bolstering its rail network connecting Zeebrugge, Belgium with northern Italy. Introducing a fresh train service to Piacenza, the Hupac is also increasing the frequency of services to Italy's Busto Arsizio and Novara. Additionally, departure points for trains headed to Antwerp will now be relocated to Lauterbourg, France. Further
CEVA to launch automotive logistics centre at Port of Dunkirk On 15 March, an agreement was reached between the Port of Dunkirk and CEVA Logistics, marking the beginning of a new venture. The contract entails the allocation of land for CEVA's development of a state-of-the-art vehicle logistics facility dedicated to sea imports and exports. Dunkerque-Port has selected CEVA Logistics, CMA CGM's subsidiary, as a candidate through a competitive Call for Express
CMA CGM reshuffles EURONAF service CMA CGM's Short Sea Lines Division has announced the reshuffle of the EURONAF service effective from the 11th week of the year. These adjustments will synchronize the loops with revised routes from mainliners in response to the situation in the Red Sea region, according to the French carrier. The EURONAF service will continue to serve the Algerian markets for global connections, ensuring the sust
MABUX reports decline in global bunker indices In the 11th week of the year, there was a moderate decline in the Marine Bunker Exchange (MABUX) global bunker indices. The 380 HSFO index dropped by US$2.43 to US$534.39/MT. Similarly, the VLSFO index saw a decrease of US$2.17, reaching US$676.01/MT, while the MGO index experienced a loss of US$2.77 to US$894.21/MT, consistently remaining below the US$900 mark. "At the time of writing, the marke
ICTSI's MICT reaches 50 million TEU milestone Manila International Container Terminal (MICT), International Container Terminal Service, Inc.'s (ICTSI) flagship terminal, celebrates another milestone by handling its 50 millionth TEU. The Philippine terminal unloaded the 50 millionth TEU container from Ocean Network Express (ONE)-operated boxship Seabreeze in a shipment owned by HRD Singapore PTE Ltd. "Leveraging cutting-edge technology, MICT
MSC establishes new MEDLOG cold store facility in South Africa MSC announced the opening of a state-of-the-art 15,000-metre cold storage facility in Durban, South Africa. The facility, part of MSC's MEDLOG logistics division, aims to catalyse advancements in the handling of perishable goods in South Africa and beyond and open up the country's trade landscape. An inaugural event for the cold storage facility took place on 7 March, attended by MSC CEO Soren To
COSCO Shipping Aries to call at Port of Genoa marking another milestone During the inaugural journey of COSCO Shipping Aries in 2018, this ultra-large container vessel became the first 20,000 TEU class ship from China to call HHLA Container Terminal Tollerort (CTT) in Hamburg, Germany. On 19 March next week, another milestone awaits the boxship. Captain Wang Chunsheng and his crew will be the first to sail the 400-metre-long vessel into the Port of Genoa, Italy's lar
Wilson Sons invests in Rio Grande Container Terminal Wilson Sons has invested around US$280,000 in Brazil's Rio Grande Container Terminal (RS), planning to increase operational efficiency through technological initiatives. These initiatives include the Terminal Operation Centre, an action that creates an operational intelligence data analysis cell to promote efficient operational planning, resulting in better delivery of yard and ship operations. A
Wan Hai issues US$320 million of bonds after loss Wan Hai Lines is issuing US$320 million of bonds to improve its financial structure, after the Taiwanese liner operator sank into the red. Wan Hai incurred a net loss of US$188.5 million in 2023, which deteriorated from a net profit of US$3.04 billion in 2022, ending 13 straight profitable years. The last time Wan Hai reported a net loss was in 2009, when the global financial crisis resulted in r
CMA CGM applies new rates from Asia to Mediterranean French container line CMA CGM has announced the following updated Freight All Kinds (FAK) rates from all Asian main ports to the mentioned Mediterranean ports. 20' 40'/40'HC WEST MEDITERRANEAN US$3,200 US$4,000 ADRIATIC US$3,200 US$4,000 EAST MEDITERRANEAN US$3,300 US$4,100 BLACK SEA US$3,300 US$4,200 ALGERIA US$4,600 US$5,800 TUNISIA US$4,300 US$5,700 LIBYA US$4,500 US$5,200 MOROCCO US$4,100 US$
OCEAN Alliance rolls out new service network OCEAN Alliance, consisting of CMA CGM, COSCO, Evergreen and OOCL, has announced the launch of its updated service network, called "DAY 8 Product". After extending their partnership for an additional five years , the four ocean carrier allies are unveiling their new programme aimed at tackling the emerging challenges posed by the volatile conditions in the Red Sea. The DAY 8 Product, which is expe
Carriers 'undo' rate hikes on India-US trades amid cargo volume pressure Container carriers appear to have abandoned plans to hike freight rates on Indian trades to the United States, as they are facing a slump in cargo bookings. MSC, Hapag-Lloyd and CMA CGM had planned to implement hefty general rate increase (GRI) and peak season surcharge (PSS) amounts from early March. For example, MSC's rate activity plans included a GRI of US$1,000 per box from 1 March and a PSS
Saipem bags offshore pipelines installation deal for UK CCS projects Italian offshore engineering and construction giant Saipem has signed a letter of intent for the installation of offshore pipelines on the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power) projects. NEP - a joint venture between the operator BP, Equinor, and TotalEnergies - and NZT Power - a partnership between BP and ...
MPC Capital doubles stake in MPC Container Ships MPC Capital has doubled its shareholding in boxship owner MPC Container Ships (MPCC). The Hamburg-based asset and investment manager said it had increased its stake in the Oslo-listed tonnage provider from around 7% to around 14%. The deal worth around $34m was carried out by boosting shareholding in the joint investment vehicle MPC CSI, set ...
Maersk Supply Service forges US wind pact with Edison Chouest Offshore Maersk Supply Service (MSS) has teamed up with Louisiana-based OSV giant Edison Chouest Offshore (ECO) to build and operate a feeder spread that will support the Danish offshore shipowner and contractor's wind farm installation vessel newbuild in US waters. The newbuild spread is intended to ship wind turbine components or foundations to the installation site ...
Houthis vow to extend attacks deeper into the Indian Ocean Another ship has been damaged by the Houthis, who now claim to have hypersonic missiles in their armoury and will expand their target zone deeper into the Indian Ocean to try and prevent enemy vessels from passing via the Cape of Good Hope. To date, in their five-month campaign in solidarity with Hamas, the Houthis ...
Noble scores drillship contract in the Philippines Offshore rig owner Noble Corporation has won a contract from Prime Energy for the Noble Viking drillship offshore Philippines. The contract worth $69.9m covers three wells in the Camago and Malampaya East fields with an additional option for Bagong Pagasa well priced at $10.98m. The firm three-well campaign will take at least 140 days, and ...
Vietnam's Hoanh Son remains on a panamax charge Qatari owner S'hail Shipping has made a decent profit on a rusty panamax sale to the fast-growing Hoanh Son Group S'hail has sold the 18-year-old panamax S'hail Al Dukhan to the Vietnamese infrastructure conglomerate. No price is attached to the deal, but VesselsValue indicates that the Namura-built ship is worth just under $12m. S'hail added ...
Dolphin Drilling sells Bideford Dolphin rig for scrap Semisub rig owner Dolphin Drilling has opted to sell the drilling rig for scrap. Dolphin Drilling said that the decision aligns with its ongoing efforts to optimise its fleet and enhance operational efficiency. The rig was built in 1975 by Aker Kvaerner in Verdal. It has been warm-stacked for quite some time in Flekkefjord, Norway, ...
3,000 Thais drafted to help churn out South Korea's bumper ship backlog South Korea's bumper orderbook, tricky production schedule and difficult domestic demographics have been partially resolved with an agreement hatched with Thailand whereby 3,000 Thai welders and mechanical technicians will be sent to South Korea's five largest shipyards. South Korea has been tinkering with its visa system over the last couple of years, seeking workers from ...
Opposing teams line up for next week's MEPC The eighty-first session of the Marine Environment Protection Committee (MEPC) will take place next week where the focus will be on developing legally-binding measures to ensure last year's milestone agreement to phase out greenhouse gases (GHG) from shipping by 2050 is made possible. The task at hand is to translate the net-zero by 2050 "ambition" ...
DP World to build logistics centre in Busan Terminal operator DP World has announced a $50m investment to develop a new logistics centre in Busan New Port, strengthening the port's position as a logistics hub for Northeast Asia and reinforcing the global standing of the wider Busan-Jinhae Free Economic Zone (BJFEZ). Construction of the facility in the 75,000 sq m land is set ...
Fortescue Green Pioneer completes landmark ammonia fuel trial The ship that grabbed headlines at COP28 in Dubai is back in the news. The Fortescue Green Pioneer, a platform supply vessel, has successfully conducted the world's first use of ammonia fuel, in combination with diesel in the combustion process. The vessel was loaded with liquid ammonia from the existing ammonia facility at Vopak Banyan ...
US blacklists suezmax tanker and owner for Iran and Houthi links The US has slapped sanctions on a suezmax tanker and its registered owner for shipping Iranian commodities in support of...
Belgium court also denies FourWorld's complaint against CMB's Euronav takeover The Belgium Market Court has denied a request by New York-based FourWorld Capital Management to block CMB's takeover of Euronav...
Dual-fuel newbuildings still not viable, says Norden's Jan Rindbo Norden aims to cut emissions by 16% by 2030 from a 2022 baseline, by using measures such as slow steaming...
Dark fleet insurance? Not reassuring It's 2024 and we still still have vessels 'owned' by anonymous brass plate companies, 'flagged' with fictitious 'registries', 'IMO numbered'...
Fortescue ship in world's first ammonia bunkering trial Fortescue's dual-fuel ammonia supply vessel has taken on ammonia as a marine fuel in Singapore, marking the first-ever ammonia bunkering...
Seanergy ups dividend as it clinches increased capesize earnings Nasdaq-listed owner of 18 large bulkers intends to 'vigorously defend' itself against Economou lawsuit
Slow and steady transatlantic box trade settles back to normal patterns Trade between Europe and North America is expected to see little growth. But for carriers the transatlantic can yield profits...
The Lloyd's List Podcast: How long can Ukraine keep its grain corridor open? Ukraine's Black Sea corridor is an undeniable success. Ships are sailing into and out of Ukraine outside of an international...
Newbuilding prices set to rise as shipyard lead times stretch to four years The need for new ships to comply with upcoming environmental regulations and a requirement to replace the large numbers of...
Houthis to target Indian Ocean transits as attacks continue Houthi leader Abdul-Malik al-Houthi pledges to extend missile attacks against ships diverting around the Cape of Good Hope
DP World strengthen integrated logistics with Busan investment The investment in Busan marks another step for the Dubai-headquartered port giant in its strategic shift towards integrated supply chains...
Shanghai sets sights on expanding shipping futures Container futures contracts based on the Shanghai Container Freight Index of Settlement have shown active trading since their launch in...
CMA CGM expands Ocean Alliance and media empire After committing to a further five years as a grouping, the Ocean Alliance will be the largest global network, offering...
Daily Briefing Fears of a future US ETS for shipping raised at CMA | What to expect from MEPC81? | US Coast...
Chinese niche carrier to launch Shanghai-Los Angeles expedited service next week The entry of Hede International in the eastbound trans-Pacific comes as US imports from Asia have been rising on a year-over-year basis since October.
Montreal port employers lose bid to make dock work an 'essential service' The "essential" designation request, which if granted would have barred workers from striking, comes as talks on a new contract have dragged on for seven months with no resolution.
Demand soars for Asia-Europe sea-air option to avoid longer Africa transit Dubai continues to be one of the more popular destinations for European importers with time-sensitive cargo, with the airport able to covert ocean freight to air cargo in 24 hours.
Ocean Alliance keeps status quo, renews partnership for another five years The carrier grouping is untouched by the latest alliance changes roiling the container market and will assume its position as the largest global alliance early next year after 2M dissolves.
DOE billions available for green energy projects, but cargo not moving yet Billions of dollars in federal funds are available to scale up innovative green energy projects, once would-be developers make it through the DOE's loan qualification process.
ODFL expands in Northeast as LTL land rush intensifies The second-largest US less-than-truckload provider is building terminals, parking lots and freight density as competitors vie for real estate and customers.
DOE billions available, but cargo is not moving yet Billions of dollars are available to scale up innovative green energy projects, once would-be developers make it through the DOE's loan qualification process.
Montreal port employers lose bid to make dockwork an 'essential service' The "essential" designation request, which if granted would have barred workers from striking, comes as talks on a new contract have dragged on for seven months with no resolution.
Calling time: it's Euronav/CMB 2, FourWorld Capital 0 as Belgium weighs in European court joins US counterpart in refusing to block Saverys buyout deal, which then closes
Editor's selection: Record prices, new territory and a life-changing phone call Which stories have been setting the news agenda this week?
Wavelength Podcast: Container rates to drop once Red Sea transits resume, how to assess the impact of the IMO MBMs Zim and Hapag Lloyd results put freight rates under the spotlight, UNCTAD talks about the impact of MBM proposals
Liner giant MSC returns to recycling container ships after a two-month hiatus Liner giant is one of only two container shipping companies sending ships to the breakers this week
Seanergy reveals capesize swoop prior to asset price spike Greek owner adds Japanese bulker already worth $5m more than price tag
Odfjell CEO Harald Fotland becomes president of Norwegian Shipowners Association Hoegh Autoliners CEO Andreas Enger is elected vice president
Seanergy reveals capesize bulker swoop prior to asset price spike Greek owner adds Japanese bulker already worth $5m more than price tag
Brace yourselves: Geopolitical shifts to 'reshape' how shipping thinks 'We have to understand that energy policy has close links to security policy', Norway's defence committee head says
Vega Bulk buys bulker as Japanese owner culls fleet Oslo-based owner splashes $18.5m on 2015-built handysize
Sanctioned Sovcomflot tankers switch tactics as they discharge cargoes in China The NS Century spent weeks off the coast of Sri Lanka after being hit by sanctions
'Parasites or catalysts?' For lifetime shipbroker Michael Tusiani, the answer is clear Poten man becomes the first of his profession to wear Commodore's hat at Connecticut Maritime Association
Norwegian-controlled fleet shrinks for fourth year in a row despite $10bn orderbook Norway is still the fifth-largest shipping nation in the world
Shipping magnate to media mogul: Rodolphe Saade bids $1.68bn for France's third-largest media group Fresh from licking their wounds from failed Wincanton bid, the Saade family are buying Altice Media
Braemar nurtures next generation of leaders after high-profile departures UK-listed shop says it wants to provide career pathways for all staff
Sexual misconduct reports spike in US shipping after policy shake-up Assistant commandant says mariners have more trust in procedure, although they remain guarded
Germany's fourth FSRU arrives on site at new Stade terminal New regas unit due to fire up next month
Shipping magnate to media mongul: Rodolphe Saade bids $1.68bn for France's third largest media group Fresh from licking their wounds from failed Wincanton bid, the Saade family are buying Altice Media
Master says tanker was not struck by Houthi missiles in Red Sea Another vessel reports explosions as Yemeni rebels ramp up attacks
Clarksons tanker boss takes over in Greece as Savvas Athanassiades leaves Leadership change announced in Athens as long-serving boss departs by mutual consent
Houthis threaten to target ships diverting to Cape of Good Hope Rebel leader says Israel-linked vessels will be attacked in Indian Ocean
Houthi missile strikes tanker as militia steps up Red Sea attacks Another vessel reports explosions as Yemeni rebels ramp up attacks once more
Going nuts? Why Norden's Jan Rindbo is betting on cashew shells to crack the fuelling conundrum Danish group takes stake in MASH Makes as it continues to pioneer biofuels
Odfjell CEO Harald Fotland becomes new president of Norwegian Shipowners Association Hoegh Autoliners CEO Andreas Enger elected vice president
Maersk Supply Service and Edison Chouest to order newbuildings after teaming up on offshore wind Newbuilding plan will speed up turbine installations, partners say
Christen Sveaas sees Kistefos profit drop by $62m after Western Bulk's 'very disappointing and poor result' Norwegian firm seeks turnaround for dry bulk company
Kristen Sveaas sees Kistefos profit drop by $62m after Western Bulk's 'very disappointing and poor result' Norwegian firm seeks turnaround for dry bulk shipping company
Tributes paid to 'formidable broker' and 'selfless' charity champion Tim Webb BRS broker dies after stepping down from key role at hospital ship charity
How to win at green shipping? BCG thinks it knows how Despite cargo owners' low willingness to pay a premium for decarbonisation, shipowners and operators have a huge opportunity to capture revenue, says consulting giant
MPC Capital doubles holding in Oslo-listed MPC Container Ships with bet on future profits Hamburg asset manager boosts stake to 14% in $37m deal
Trafigura and Mercuria open bunker bases in Mauritius as ships shift routes to avoid Houthi missiles Trading and shipowning groups now operating out of Port Louis
'Significant milestone': Singapore completes first ammonia bunkering trial MPA says event marks a significant milestone in city state's multi-fuel bunkering capability development
Decarbonisation is like dating, Lasse Kristoffersen says: Somebody has to make the first move Wallenius Wilhelmsen head says his company is bringing up emissions-slashing initiatives to its customers, not the other way around
Singapore completes first ammonia bunkering trial MPA says event marks a significant milestone in city state's multi-fuel bunkering capability development
Pyxis Tankers to hold fire on asset purchases until market cools US-listed owner says opportunities for fleet expansion of mid-sized vessels continues to be challenging
Red Sea situation will not be fixed with military interventions, Kristoffersen says Wallenius Wilhelmsen has not transited the Red Sea since mid-December
FedEx pilots take harder line as contract dispute drags on The FedEx pilots union is telling members that the company's slow response to its demands is triggering tougher tactics. FedEx says there is so much turmoil in the union that it doesn't know what demands to take seriously.
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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