Vard introduces its new Vard Resilience military vessel series Earlier this month, Norway announced plans to increase its naval strength by adding a minimum of five new frigates with helicopters to the Norwegian Navy, along with up to ten large and
FTA announces $316 million to modernize ferry services The U.S. Department of Transportation's Federal Transit Administration (FTA) today announced the availability of $316 million to support and modernize passenger ferry service in U.S. communities with approximately three million ferry riders each month.
Singapore Shipping Association unveils tool to enhance cyber risk management Singapore Shipping Association (SSA), a trade association advocating for the interests of over 500 Singapore-based companies involved in ship owning, operating, and maritime services, has unveiled the MaritimeSG Shipping CyberSafe Scorecard. Developed in collaboration with the Maritime and Port Authority of Singapore (MPA) and industry experts, this initiative empowers vessel owners, managers and
MSC applies new prices from Far East to Europe Swiss/Italian container carrier MSC will implement the following new Freight All Kind (FAK) rates from Asia to Europe. Effective as from 1 May but not beyond 14 May from all Asian ports (including Japan, Korea & Southeast Asia) to North Europe, the new rates will be as follows: Port of discharge New All in Rates 20 DV 40 DV-HC NWC US$2,700 US$4,500 EAST MED US$4,100 US$5,600 BLACK SEA US$4,200 US
Port of Antwerp-Bruges handles over 3.2 million TEUs in first quarter The Port of Antwerp-Bruges said that despite the ongoing complexities in geopolitics and macroeconomics, its volume growth, primarily driven by a resurgence in container throughput, highlights the port resilience. Following a global slowdown in demand for container shipping in 2023 due to economic uncertainties and inflation, container throughput began to rebound in February at the Belgian port,
Port of Rotterdam achieves 10% CO2 emission reduction in 2023 In 2023, there was a 10% reduction in CO2 emissions at the port of Rotterdam compared to 2022, amounting to a decrease of 2.2 million tons. Emissions are now one-third lower than they were in 2016, which marked the peak year for CO2 emissions at the Dutch port. Furthermore, in 2023, CO2 emission levels reached 20.3 million tons, falling below those of the reference year 1990 (20.6 million tons) f
ONE and Portchain ink deal to drive sustainability In the fall of 2023, Ocean Network Express (ONE) partnered with Portchain to focus efforts on enhancing collaboration with container terminals through the innovative Portchain Connect platform. This partnership envisages a reduction in the time for terminals and ONE to reach digital handshakes on berth changes, presenting a mutual opportunity for both parties to optimize their operational resourc
Ocean Network Express unveils sustainable shipping solution Ocean Network Express (ONE) has introduced its new environmentally friendly shipping service called ONE LEAF+. This service is specifically crafted to align with the shared decarbonization goals of the shipping sector. ONE LEAF+ empowers customers to actively oversee their emissions and reduce their environmental footprint throughout the entire value chain. ONE LEAF+ provides customers with vario
CMA CGM announces peak season surcharges from Asia to Africa CMA CGM has notified its customers about the implementation of a Peak Season Surcharge (PSS02) effective from 16 April 2024 (loading date) until further notice. This surcharge applies to shipments from China to various destinations including Angola, Congo, DRC, Namibia, Gabon, Cameroon, Nigeria, Côte d'Ivoire, Benin, Ghana, Togo, and Equatorial Guinea. The surcharge rate for dry cargo on these ro
Covid pandemic wiped 24.6 million TEUs off container market growth "Due to the Covid-19 pandemic, the global container market grew only 1.5% from 171 million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would have been 24.6 million higher, landing at 198.1 million in 2023," says Niels Rasmussen, Chief Shipping Analyst at BIMCO. During the past four years, the container market has faced not only lower-than-expected growth in the glo
Maersk implements new surcharges from Asia Maersk has announced increases in its peak season surcharges from several ports in Asia to Kenya, effective from 29 April and 13 May. Below are the details of the revised tariff amounts: Charge name Origin Destination Rate basis Container Rate Peak Season Surcharge Brunei, Vietnam, Indonesia, Cambodia, Laos, Myanmar (Burma), Malaysia, Philippines, Singapore, Thailand, East Timor Kenya Per contain
Hong Kong seizes duty-unpaid electronic waste and products from container Hong Kong Customs and Excise Department busted an attempt to smuggle electronic waste and electronic products to Malaysia. An ocean-going boxship was detained at Kwai Chung Container Terminal on 4 April and a large number of suspected smuggled electronic parts, electronic products and electronic scrap, with an estimated market value of about US$13 million, were seized. The container was declared
Jebel Ali returns to top-10 busiest container ports Alphaliner's report said the Middle East's largest container port, Dubai/Jebel Ali, has re-entered the top 10 ranking of global container ports, overtaking Europe's biggest port and demonstrating the scale of the economic slump in Europe. Jebel Ali processed 14.47 million TEUs in 2023, up from 13.97 million TEU in 2022, enabling the UAE port to return to the top 10 after dropping out in 2019. Its
Port of Portland closes container terminal due to financial issues Port of Portland has decided to halt its container operations in October due to financial challenges, according to several US media. The major port in Oregon seems to be facing financial difficulties and as an agreement with a third-party operator was not completed, the Port of Portland said it cannot afford to keep the box terminal open past September. According to OPB, the Port of Portland has
Collaboration on pilot program for Maritime Book and Claim System RMI and the M�rsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMCZCS) are teaming up with the Zero Emission Maritime Buyers Alliance (ZEMBA) and Hapag-Lloyd to initiate a pilot program for a Maritime Book and Claim System. This system aims to monitor and mitigate greenhouse gas emissions from ocean transport services, which currently contribute 3% to global emissions and are projected to r
Joe Kramek to succeed John Butler at World Shipping Council Liner lobby group, the World Shipping Council (WSC), has appointed Joe Kramek as its new president and chief executive officer. Kramek will succeed John Butler, who will retire at the end of July after nearly a decade at the helm. Before taking the top job, Kramek served as the WSC's director of US government relations ...
D'Amico orders two LR1 tankers in China Italian owner d'Amico International Shipping has signed a shipbuilding contract with Jiangsu New Yangzi Shipbuilding for the purchase of two new LR1 product tankers. The order was placed by the Italian firm's Irish subsidiary, d'Amico Tankers. The price for each 75,000 dwt vessel will be $55.4m. According to the company, the two newbuilds are expected ...
Changes at the top at Knutsen NYK Carbon Carriers Knutsen NYK Carbon Carriers (KNCC) has revealed a change in its top management with the promotion of chief technical officer Oliver Hagen-Smith. Hagen-Smith, who joined Knutsen in 2009, will take over as chief executive from Anders Lepsøe in May. Lepsøe will become the company's chairman as well as head of NYK Group Europe in Norway. ...
Jinhui bulks up with newcastlemax charter Chinese bulker operator Jinhui Shipping and Transportation has chartered in a vessel under a long-term deal for the second time in less than a week. The Oslo- and Hong Kong-listed company has contracted a 2017-built newcastlemax True Neptune for at least 33 months from the Singapore-based Olam Maritime Freight. The Chinese firm does have an ...
AET locks in Singfar aframax newbuilds Malaysian tanker player AET has struck a deal to bring in a pair of LNG dual-fuel aframax newbuilds on long-term charter. Singapore-based logistics and tonnage provider Singfar Group has fixed its 115,000 dwt duo recently booked for construction at New Times Shipbuilding in China. The vessels will be delivered to AET in 2027. No further ...
ONE launches new low-emission shipping service Japanese liner Ocean Network Express (ONE) has unveiled a reduced emissions shipping service designed to meet the shared decarbonisation goals of the shipping industry. The new shipping service, named ONE LEAF+, offers customers the opportunity to manage their emissions and minimise environmental impact across the value chain. The name is short for "low emission-able freight" ...
Seatrium looks into new energies and AI for offshore and marine sector Singapore shipbuilder Seatrium has partnered up with the city-state's Agency for Science, Technology and Research (A*STAR) to explore research opportunities in new energies and artificial intelligence (AI) to develop new products and engineering solutions for the offshore and marine sector. Under a memorandum of understanding (MoU) signed during Singapore Maritime Week, the parties said in ...
Shanghai stretches lead at the top of the boxport rankings to 10m teu Shanghai has built up an unprecedented commanding 10m teu lead over its nearest boxport rival in rankings of the top 30 container ports worldwide compiled by Alphaliner. Shanghai has been the world's largest container port for the last 14 years, beating Singapore into second place. It now stands on the cusp of being the first ...
HD Hyundai backs Scottish offshore wind sector South Korea's HD Hyundai Heavy Industries has signed a memorandum of understanding (MOU) with Scottish Enterprise (SE) and Highlands and Islands Enterprise (HIE) for cooperation on floating offshore wind projects. Under the agreement, HD Hyundai will share its know-how in designing and manufacturing floating offshore structures and support supply chain optimization measures. SE and HIE ...
Genco slams George Economou as boardroom battle heats up US-listed bulker owner Genco Shipping & Trading has urged shareholders in a definitive proxy filing to dismiss Greek shipping magnate George Economou's proposal and his nominee to the company's board. Economou, who, via his affiliated investment vehicles, holds about a 5.4% ownership stake in Genco, filed a proxy last week to nominate Robert Pons to ...
Zero Emission Maritime Buyers Alliance reveals winner of first tender The Zero Emission Maritime Buyers Alliance (ZEMBA), an initiative of Cargo Owners for Zero Emission Vessels (coZEV) facilitated by the Aspen Institute, which includes the likes of IKEA, Nike and Amazon as founding members, has selected the winner of its first tender. ZEMBA announced Hapag-Lloyd had won the two-year contract to ship goods on voyages ...
Woodside Energy taps Argeo for Calypso survey off Trinidad Norwegian surveyor Argeo has signed a contract with Woodside Energy for an AUV geophysical survey of the deepwater Calypso field off Trinidad and Tobago. The work will be carried out by the Argeo Searcher vessel and will begin in the third quarter of 2024. The project will occupy the vessel for approximately 60 days, not ...
Singapore to host digital ship identity trials Singapore will serve as a testbed to trial and pilot the use of digital ship identity in maritime applications such as digital port clearance and digital bunkering. During the ongoing Singapore Maritime Week, the Maritime & Port Authority (MPA) of Singapore has agreed to host the so-called Marine Vessel Pass (MVP) trials. S&P Global Market ...
Portland to close container terminal The US west coast will bid farewell to a container destination come the end of September. Officials at Portland in Oregon have decided to close and likely repurpose the city's sole mothballed container terminal this autumn as the facility no longer has any regular customers and has been losing millions of dollars for the past ...
Eureka signs for cement carrier at Dutch yard Eureka Shipping, a six-year-old cement carrier joint venture between SMT Shipping and the CSL Group, has contracted Holland Shipyard Group to build a 12,500 dwt cement carrier for operation in the Great Lakes. The vessel will replace two older vessels when it delivers next year, while maintaining the same cargo capacity. Key features of the ...
Seoul studies nuclear potential for ships The state-run Korea Research Institute of Ships and Ocean Engineering (KRISO) is studying developing core technologies for small modular reactor (SMR)-powered ships and floating SMR power generation platforms in a four year R&D program. KRISO said yesterday it will develop core technologies for SMR-powered ships, including a conceptual design of an SMR-powered ship and the ...
Greek broker Optima taps Singapore's draw for China and Asia owners Winston Yuan, the head of the brokerage's Singapore office who relocated from Shanghai last year, says he moved to be...
Sun sets on Venezuela oil sanctions relief as US opts to let licence expire Sanctions on Venezuela's oil and gas sector will resume on Thursday after the US chose not to renew a licence...
Hapag-Lloyd wins low-emission freight tender German carrier Hapag-Lloyd won the first tender by the Zero Emissions Maritime Buyers Alliance to deliver 90% emissions reduction for...
US Trade Representative heeds calls to probe China's maritime dominance The USTR has initiated a Section 301 investigation into 'China's targeting of the maritime, logistics, and shipbuilding sectors for dominance'...
Middle East tensions fail to move dial on war risk rates MSC Aries hijack and Iranian missile onslaught see little impact on Red Sea premiums and small hardening of Middle East...
MSC and CMA CGM buy up more chartered containerships CMA CGM is reported by brokers to have exercised a purchase option for a long-term chartered sub post-panamax. Meanwhile, MSC...
Portland container terminal to close in October Teu volumes at the port hit zero in 2017, and despite a revival during the pandemic, Portland's Terminal 6 will...
CMA CGM to partner with UN World Food Programme The CMA CGM Foundation has already shipped more than 38,000 tonnes of humanitarian aid since its creation in 2005
World Shipping Council appoints new president Container shipping's trade association sees a changing of the guard as Joe Kramek is appointed to the top job
No evidence more Chinese or Russian ships transiting Bab el Mandeb Transits of China- and Russia-affiliated ships through the Bab el Mandeb Strait have dropped as the situation has become increasingly...
Pandemic's lost economic growth hit box volumes Before the pandemic container volumes still grew at a higher rate than global GDP. Since then the GDP multiplier has...
HMM to expand fleet capacity to 1.5m teu by 2030 HMM pledges to increase containership fleet capacity to 1.5m teu from current level of 920,000 teu by 2030 in preparation...
Greece commits to measures for greening of coastal shipping Public-private partnership is being put together with aim of building vessels to run on green fuels within 'three to four...
Genco vs George: US-listed owner responds to Economou as proxy battle heats up US-listed Genco has gone all out in its response to George Economou's fiery proxy statement filed last week. The bulker...
Antwerp-Bruges box volumes show signs of recovery Economic conditions in Europe remain weak, with muted growth prospects. But Belgium's port complex is seeing a great share on...
How could Middle East crisis play out for tanker exchange-traded fund? Trade disruptions have been positive for spot rates, and consequently, for shipping exchange-traded funds. Recent disruptions have left VLCC rates...
Daily Briefing Shipping braces for fallout as Middle East tensions flare | Cargo interests face long wait over Dali general average call...
WSC names government relations director as group's next CEO Coast Guard veteran Joe Kramek will succeed John Butler in August as chief executive of the World Shipping Council as US lawmakers continue to push legislation that brings greater scrutiny to the liner shipping industry.
J.B. Hunt Q1 intermodal demand flat despite US import surge The country's largest intermodal trucking provider was hit by a see-saw effect in early 2024 as a "dogfight" with truckers in the East balanced import gains in the West.
Antwerp-Bruges Q1 throughput shows growth after dismal 2023 But it's an open question just how long the port's quarterly volumes can maintain that upward trend with weak economic conditions largely expected to remain in place in Europe this year.
Hapag-Lloyd wins Asia-Europe green shipping tender to launch next year An alliance of global shippers will pool their volume in a two-year deal with the carrier to transport cargo from Singapore to Rotterdam using fuel that produces zero CO2 emissions.
Portland plans to end container business by October The port said it was not able to secure an operator for its marine terminal, which was critical to securing further state aid to run the port through the rest of 2024.
Fractal fleet fractures after UK sanction blow The fleet of 26 vessels at the start of 2024 are now under five different management companies
Iran vs Israel conflict propels uncertainty to the next level for shipping players Geopolitical strife, sanctions and the energy transition create a multi-pronged test for the industry
Norwegian Cruise Line bags loan to buy four new ships Nine banks to provide pre and post-delivery loan facilities
'Compensation for sanctions': Iran stashes seized container ship near 'hijacked' tankers TankerTrackers says MSC-chartered container ship expected to be held for 'long period'
Clarksons chief Andi Case sees stake in shipbroking giant pass £28m after latest options moves Finance chief Jeff Woyda also sells performance-related stock to meet tax liabilities
Liner lobby appoints Joe Kramek to head World Shipping Council Former US Coast Guard legal eagle to take the reins of boxship lobby in August
Tanker rates show differing fortunes amid shaky geopolitical backdrop Global political climate looms in the background of tanker market activity
d'Amico International Shipping breaks nine-year newbuilding drought with $110.8m deal Italy's only listed shipping company has ordered a brace of LR1 tankers in China
Hapag Lloyd wins first zero-emission ZEMBA member tender Zero-emission tender will see Amazon and other ZEMBA members pay for biomethane under a book and claim system
Oldendorff, NYK and Canadian mining giant team up to decarbonise dry bulk supply chains Group aims for international collaboration and setting ambitious milestones to create a net-zero future from producer to shipper to customer
VLCCs return to Russia trade as changing sanctions create vessel oversupply Temporary lifting of measures against Venezuela has left some of the large shadow fleet tankers hunting for work
Norwegian Cruise Line lands bags loan to buy four new ships Nine banks to provide pre and post-delivery loan facilities
Jinhui bags biggest bulker yet in $27m newcastlemax charter deal Oslo-listed owner takes Singapore-owned vessel for up to three years
Mikael Skov opens up on why he is cashing in his shares in Danish football club Tanker company CEO says he sold some stock in Hvidovre because he has not lived in Denmark for many years
John Fredriksen ally wins seat on board of potential takeover target International Seaways Kristian Johansen is one of two picks by the US owner
Blacklisted ship manager Beks resumes Russia trades under fresh flags More than two-thirds of tanker fleet under new flag after UK hits Turkish operator with sanctions
Braemar's Australian 'office heartbeat' James a'Beckett resigns Melbourne-based long-player moves on to a new role with Japanese principal
'Repayment avalanche': US bank closes $2bn in fresh deals to stand still in market awash with cash This week's Streetwise takes a look at the bank, formerly known as CIT, and its progress as one of the few US-based ship lenders
Tanker newcomer Singfar secures work for fresh newbuildings with AET Singapore-based company owns and operates about 20 tankers
Rainy days: Panama Canal opens up more slots and eases draft restrictions Waterway's authority will add eight daily transits next month as drought problems wane
Ievoli family to list offshore unit NextGeo on Milan Stock Exchange IPO moves forward after backing of cornerstone investors
Franbo Lines lured to China for the first time for bulker newbuildings Chinese shipyard offers competitive price and early delivery dates
Oliver Hagen-Smith takes top job at Knutsen NYK Carbon Carriers in generational shift Chief technical officer taking over from Anders Lepsoe, who will replace Svein Steimler as chairman
Hanwha Ocean receives muted response to rare VLCC berths tender Brokers say buyers are starting to show caution on large tanker action, particularly at such stiff pricing
100 days to go: CMA CGM to transport 900,000 sports items for Paris Olympics French group deploying its huge fleet as an official partner of 2024 games
Eastern Pacific Shipping commits six new ammonia dual-fuel ships to Singapore flag Move reaffirms owner's support for MPA green initiatives
Japanese shipowner Iino Kaiun linked to large LPG newbuilding at Hanwha Ocean Deal takes the South Korean shipbuilder's order intake for this year to $4.1bn
Sinokor circulates LNG ship for sale less than a year after buying it South Korean shipowner set to flip LNG Alliance as it takes delivery of its first LNG newbuilding
CSL and SMT venture Eureka Shipping inks cement carrier order in Europe Cyprus-based company says cutting-edge vessel destined for operations in the Great Lakes
'Compensation for sanctions': Iran stacks seized container ship near 'hijacked' tankers TankerTrackers says MSC-chartered container ship expected to be held for 'long period'
Sovcomflot boss concedes sanctions hit as 'old horse' shadow-fleet tankers take centre stage Russian CEO also says older vessels proving a challenge for insurers
Franbo Lines lured to China for the first time for bulk carrier newbuildings Chinese shipyard offers competitive newbuilding price and early delivery dates
Norway fund manager sees money shifting to shipping stocks in 'unique' upturn Martin Molsaeter bets on VLCCs and large bulkers
BW Group-backed Hafnia awards stock options to top management Share options totalling 752,060 given to CEO and CFO as part of remuneration package
Share your decarbonisation results, urges IMO's Dominguez Companies leading decarbonisation efforts should share their results for the benefit of the industry urges IMO secretary general
EU emissions trading scheme could split dry bulk market, says Klaveness' Michael Jorgensen Dry bulk chief holds positive outlook for sector despite numerous market challenges
US treasury secretary threatens new sanctions against Iran oil exports 'in the coming days' EU also eyes sanctions on Iran after weekend's attack on Israel
Share your decarbonisation results urges IMO's Dominguez Companies leading decarbonisation efforts should share their results for the benefit of the industry urges IMO secretary General
Weather disruptions curtail Rio Tinto iron ore exports in first quarter China's domestic steel demand is seeing little growth, but exports have risen 30% this year, supporting iron ore demand, says miner
Engine maker expects safety standards for ammonia fuelling by end of 2024 Uwe Lauber says engine maker is working with port authorities and classification societies to draw up safety rules
'Big data can give big problems, huge data can give huge problems', AI expert warns Artificial intelligence will become ubiquitous as the use case becomes clearer, argue digitalisation experts
Singapore shipping bash puts big guns in the spotlight Asian city-state's annual Maritime Week puts maritime front and centre
Steve Kunzer: Why Lila Global is 'sitting in its money' amid plans for 70 ship fleet Chief executive says secondhand prices for mid-age ships are just too high to bring value
Kramek prepares to lead World Shipping Council The World Shipping Council has named Joe Kramek its next president and CEO. He will replace John Butler, who plans to retire in July.
Asia Pacific Airlines on notice for $2.9 million FAA fine The Federal Aviation Administration has warned a cargo airline that supports the Pacific Islands that it plans to fine it $2.9 million for poor safety compliance.
United Airlines sets bar for Q1 cargo performance United Airlines nearly closed the year-over-year gap in cargo revenue during the first quarter as the air logistics sector shakes off a lengthy slump.
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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