New MARAD advisory: Turn off AIS in Houthi threat area The U.S. Maritime Administration today issued a new U.S. Maritime Advisory for vessels transiting the Southern Red Sea, Bab el Mandeb Strait, Gulf of Aden, Indian Ocean, Somali Basin, Arabian Sea, Gulf
Strategic Marine delivers new hybrid fast crew boat duo Singapore boat builder Strategic Marine has delivered two new Gen 4 fast crew boats to Thailand's Truth Maritime Services. The 42-meter vessels feature business class seats for 70 passengers and enhanced passenger
Venture Global swoops on 9 in-build LNG carriers Arlington, Va., headquartered U.S. LNG export terminal operator Venture Global LNG is getting into vessel ownership. Yesterday, it announced the acquisition of nine LNG carriers currently under construction by an undisclosed South
U.S. sanctions Houthi-linked vessel Lady Sofia Continuing to try to stem the flow of Iranian funding to the Houthis, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) took action March 15 against a Mumbai-headquartered,
ONE completes its first European Union Allowances transaction Singapore-based container line Ocean Network Express (ONE) has announced its inaugural European Union Allowances (EUA) transaction with BNP Paribas, a global bank and financial services company headquartered in Paris, France. Commencing on 1 January 2024, under the regulations of the EU Emissions Trading System (ETS), the maritime transport industry has been included and shipping companies are ma
Ukrainian drones strike another Russian oil refinery The Ukrainian military has conducted another drone strike on an oil facility in Russia. This time, the target was the Slavyansk oil refinery in the Krasnodar region. According to reports by local media, the attack by seven UAVs, coordinated by the Ukrainian State Security Service and Ukrainian special forces, resulted in a fire at the ...
ESL Shipping offloads supramax brace to Turkish owner ESL Shipping, part of Finnish conglomerate Aspo, is offloading its only two supramaxes as part of the company's ambition to offer fossil-free dry bulk shipping. The Aspo Group's subsidiary has struck a deal with Turkey's HGF Denizcilik for the sale of its 2012-built 56,300 dwt sister vessels Arkadia and Kumpula. The move follows Aspo's plans ...
US blacklists tanker linked to Houthi financial supporter The US Department of the Treasury's Office of Foreign Assets Control has blacklisted a tanker for transferring oil linked to a Houthi financial facilitator from Iran to China. The 160,400 dwt tanker, owned by Marshall Islands-registered shipping company Vishnu Inc., was involved in illicit shipments to China in support of Iran's Islamic Revolutionary Guard ...
Drydel charters in Japanese newbuild Greece's Drydel Shipping has expanded its fleet with a long-term charter deal for a Japanese newbuild. The Costas Dellaportas-led bulker player is bringing in the 2024-built Twin Delight from Japan's Soki Kisen for at least three years. The 40,000 dwt ship recently named and delivered at Imabari will join 18 other Drydel-operated bulkers, with more ...
Maersk Supply Service secures vessel contract with Shell Denmark-based Maersk Supply Service has scored a contract with Shell for its subsea support vessel Maersk Achiever. The 2003-built vessel has been booked for work at the Penguins oil and gas field in the UK North Sea. The contract with an undisclosed value starts in April, with brokers reporting the fixture of between 40 and ...
StormGeo takes full ownership of Brazilian meteorological service firm Norwegian weather intelligence specialist StormGeo has taken over the remaining stake of Brazil-based weather forecast specialist Climatempo. StormGeo, a part of Alfa Laval, first took the initial 51% stake in Climatempo back in 2019. In 2023, the Bergen-based firm bought a further 38.66%, increasing its ownership to 89.66%. This latest transaction makes StormGeo the full ...
Lauritzen sells handy Scrubber-fitted handysizes changing hands are relatively rare. Nevertheless, Lauritzen Bulkers has managed to sell a second such ship in the space of a month. Brokers tell Splash that the giant Dane is trying to exploit the strong upward pressure on asset values, selling the six-year-old, 36,200 dwt Asian Bulker for some $24m, the same price ...
Dolphin Drilling inks $154m semisub contract with Oil India Semisub rig owner Dolphin Drilling has won a drilling contract for one of its rigs from oil and gas player Oil India Limited. Under the terms of the contract, Dolphin Drilling will deploy the 1974-built Blackford Dolphin semi-submersible drilling rig to support Oil India's exploration and development activities with operations planned to begin in the ...
JUB Pacific expands liftboat fleet JUB Pacific has bolstered its footprint in the liftboat arena with the acquisition of the 2010-built Caracal Pioneer. The Singapore-based company said the unit, picked up for an undisclosed sum, would be renamed JUB Pioneer. The 57-m-long vessel, which has been under JUB Pacific's UAE-based management arm GPK Marine Management Services, is one of the ...
Geneva Dry Dialogues: Bahri Dry Bulk In the 2020s to date, the dry bulk fleet at Bahri, the national shipping company of Saudi Arabia, has more than doubled in size, and plans are afoot to significantly scale up the fleet further. In an exclusive interview ahead of the company's participation at Geneva Dry in 45 days' time, Mohammed Bin Battal, president ...
Skansi Offshore bags PSV contract Skansi Offshore has secured a contract with Norwegian mid-to-late-life operator OKEA for one of its platform supply vessels. The Faroe Islands-based PSV specialist that lists five ships in its fleet has fixed the 2009-built 3,788 dwt Eldborg for six months. The contract is most likely to start this week and OKEA has six additional one-month ...
Former Golden Ocean CEO appointed as Statkraft chief executive Former Golden Ocean chief executive Birgitte Ringstad Vartdal has been named as the new CEO of Norway's largest utility Statkraft, succeeding Christian Rynning-Tønnesen. Vartdal was promoted from the role of executive vice president for the Nordics at Statkraft and will assume her new role as CEO on April 1, 2024. Tønnesen, the previous CEO of ...
China-Mexico tradelane in the spotlight on the US campaign trail Last year, Mexico overtook China as America's top trade partner, according to data from the US Commerce Department. Just how much of Mexican exports to the world's largest economy is backed by Chinese companies has become a source of great debate in this year of US presidential elections. Growth in demand for container shipping imports ...
Venture Global LNG seals deal for nine resales in South Korea American gas supplier Venture Global LNG has moved into shipowning, announcing over the weekend a total of nine resales. The Mike Sabel-led company has bought nine ships under construction in South Korea, that will be delivered starting later this year. Six vessels will have a cargo capacity of 174,000 cu m and three a cargo ...
CMA CGM bids to take over France's top rolling news channel Rodolphe Saadé has moved to buy France's top rolling news channel as the cash-rich liner executive bolsters his media empire. CMA CGM announced on Friday a EUR1.55bn ($1.69bn) deal to acquire Altice Media, France's third largest private sector media group, which runs BFM TV as well as the radio station RMC. Saadé already controls four newspapers ...
Vintage VLCC prices drop Prices for modern and newbuild VLCCs might be at historic highs, but the appetite for vintage supertankers has cooled significantly in recent months. "[S]hips hitting 20 years of age are seeing a stark deterioration in value," states a new report from broker Gibson. Gibson cited two recent sales of 2004-built, scrubber-fitted VLCCs as examples of ...
IMO resumes efforts on carbon pricing tools IMO member states are to adopt economic and technical measures in 2025, under last year's revised greenhouse gas strategy. Now...
Novorossiysk-bound ships detouring amid heightened drone threat A document circulated on social media suggests ships are being instructed to alter course after a general cargoship spotted a...
The week in newbuildings: Crude oil and product tanker orderbook sees further boost Greek and Israeli shipowners have ordered a combined 12 large tankers in the past week, comprising four ships each in...
Red Sea tensions on display at IMO meeting IMO member states voice concern over ongoing Houthi attacks and the re-emergence of Somali piracy in the region, with Yemen's...
Hapag-Lloyd dismisses shipper fears of Gemini Cooperation There will be winners and losers in terms of direct calls under the Gemini Cooperation's hub-and-spoke network. But transhipment should...
Yang Ming boxship knocks down three cranes at Turkish port of Evyap A statement said no one was hurt but local media reported that a crane operator was seriously injured
MSC in fourth containership recycling sale of the year 'Red Sea diversions have created an artificial uplift in earnings resulting in a deferral of boxship demolition decisions,' says Braemar...
American Club takes tonnage and premium hit after ratings agency downgrade Growth seen at past two renewals has slightly retreated, in part because of derisking, argues chief executive Ioannou
The week in charts: Houthi attacks will continue | Newbuilding prices set to rise | Ship recycling recovery on hold | Chinese demand props up Russia oil exports Robust weapons supply chain continues to support Houthi firepower, shipbuilders' bulging orderbooks mean prices are set to creep up in...
Bunker demand faces long-term decline despite geopolitical spikes Replacement of older, less-efficient vessels and the adoption of cleaner fuels as part of shipping's decarbonisation efforts will inevitably lead...
Daily Briefing Newbuilding prices set to rise as shipyard lead times stretch to four years | Panama Canal expected to be operating...
dship Carriers adds to MPV order book with larger, more fuel-efficient vessels Tougher environmental rules are expected to drive more MPV scrapping even as the order book expands thanks to new MPV and open-hatch ship orders.
Sharp slide in spot rates provides background to trans-Pacific contract talks This year's annual service contract negotiations are occurring amid the latest disruption in container shipping as vessels divert away from the Red Sea and Suez Canal to avoid possible attacks by Houthi militants.
Norfolk Southern debuts Atlanta appointment system for import loads The railroad believes requiring appointments and grounding containers into stacks will improve the flow of trucks through its terminal outside Atlanta.
Diversions around southern Africa expose Asia-Europe ships to rising ETS costs Longer voyages around Africa to avoid Red Sea attacks have naturally resulted in greater fuel consumption from vessels, but with Europe now charging carriers per ton of emissions, the cost implications are significant.
Digital broker Transfix follows US shippers deeper into LTL trucking Rising shipper interest helped propel digital freight marketplace Transfix into LTL through a partnership with Rocket Shipping, and Transfix expects the LTL trend to continue.
Open-hatch MPV ship orders up sharply as outlook for fleet changes New orders for open-hatch multi-purpose ships, some of them heavy-lift capable, have increased the MPV fleet growth forecast by 3.5% through 2028.
Saverys move 'full steam ahead' as shareholders sell $1.2bn in Euronav shares Belgium's CMB now effectively controls 88.6% of New York and Antwerp-listed tanker giant
Wavelength podcast: Container rates to drop once Red Sea transits resume, and how to assess the impact of IMO carbon proposals Zim and Hapag Lloyd results put freight rates under the spotlight, while Unctad talks about the impact of market-based proposals by the global shipping regulator
Capesize sales hit record high during first quarter and prices are still rising Latest reported deal shows how prices continue to firm for older vessels
Introducing the TradeWinds Wavelength podcast The audio edition of the leading name in shipping news keeps your finger on the pulse of the maritime sector
Major shipowners see elderly tankers cash in as VLCC rates climb DHT and Maran Tankers Management snag high rates for older ships
Wilbur Ross blank-cheque IPO takes a hit with delisting from New York Stock Exchange 'King of Bankruptcy' hits stumbling block with his Spac plans but seeks a workaround
Wavelength podcast: Container rates to drop once Red Sea transits resume, how to assess the impact of IMO carbon proposals Zim and Hapag Lloyd results put freight rates under the spotlight, while Unctad talks about the impact of market-based proposals by the global shipping regulator
Former Golden Ocean chief becomes first female CEO of Norway's power giant Statkraft Birgitte Ringstad Vartdal says utility 'has great opportunities to contribute to the green transition'
Founding fathers, prohibition and US protectionism: Why the Jones act isn't what you think While the 1920 law has become a lightning rod for debates over protections for domestic shipping, Senator Wesley Jones had another legacy in mind, according to a new book
Sanctioned Sovcomflot facing 'operational difficulties' from US crackdown Tracking data suggests some tankers have changed routes or been left idling for weeks with cargo on board
ESL Shipping offloads supramax duo a year after putting up for-sale sign Finnish owner sheds biggest bulkers as part of long-term plan
Secondhand tanker prices spike to highest level since 2008 with VLCCs seeing 'notable uptick' Brokers believe lack of available sales candidates is keeping asset values strong
'Twinge of sadness' as Whitaker family sells tanker fleet after 144 years Fuel supplier Lindsay Blee moves into shipowning with deal for small fuel vessels
Atlas Maritime linked to trio of very large ammonia carrier newbuildings Shipowning name said to be working with Danish financier European Maritime Finance on gas carriers
Seaspan splashes $240m on world-beating car carrier brace Boxship owner is left with six car carriers on order after four contracts novated
Greek owner DryDel Shipping adds new Japanese bulker as it aims for 30-strong fleet Costas Dellaportas-led company brings in handysize on three-year deal
Clarksons key shipping rate index hits highest point this year fuelled by record offshore rates Oil and gas support vessel markets prospering, broker says
KfW IPEX-Bank names Sebastian Blum new shipping boss after Carsten Wiebers departs Blum will be responsible for maritime industries, aviation and land-based transport as head of mobility
Affinity hires two big guns as it looks to succession and global fleet renewal needs S&P specialist Sebastian Davenport-Thomas and clean product sector expert Mike Rudd to join company next month
IMO boss slams 'categorically unacceptable' attacks on seafarers in Red Sea Arsenio Dominguez opens environment meeting with warning about pollution and risks to seafarers lives
Ernst Russ lowers profit forecast as container markets drop Group warns of sliding profitability due to correction in markets
LR2 rates double in 'dramatic surge' as tanker supply tightens Arbitrage opportunities outweighing higher cost of rerouting ships around southern Africa
Michele Bottiglieri pulls panamax pair from sales lists citing strong bulker market Shipowner claims brokers reporting the ships as sold are wrong, yet again
Three rival camps pitch up at key IMO decarbonisation meeting All eyes turn to a trio of ideas as the Marine Environment Protection Committee meets in London
IMO carbon plan is 'a lantern, not a lighthouse', ZeroNorth's Soren Meyer says Tech boss urges decisive action at this week's key IMO meeting
Anxious families of hijacked bulker crew await pirate contact Crew member contacted shipowner to say seafarer hostages are all well
Former Golden Ocean chief becomes first female CEO of Norway's power giant Statkraft Birgitte Ringstad Vartdal will receive $0.6m in base salary
Port worker injured as out-of-control container ship crashes into three cranes Video footage shows large vessel toppling the huge structures at Kocaeli port in Turkey
US blacklists tanker after ship-to-ship transfer with 'fake' vessel linked to Houthi financial fixer The Lady Sofia was expected to deliver its cargo of alleged Iranian oil to China
Vafias spin-off C3is appeals Nasdaq decision to delist company Share price of bulker and tanker owner dipped below $0.10 for 10 days
Nordic $1bn high-yield fund wants to bet big on shipping bonds Alfred Berg portfolio manager says the bond market is open for shipping issuers
Austal ends ro-ro order drought with $20m newbuilding deal Fast ferry specialist says demand is picking up
Russian petrochemical exports under threat after mass attacks on refineries Drone strikes are part of Ukraine's strategy to cripple production
Record Singapore bunker sales only delaying decline of fuel oil trade, Poten says More efficient ships and environmental regulations will force shipping to increasingly shift to cleaner fuels
US producer Venture Global boosts owned LNG fleet to nine newbuildings First two vessels to be delivered in 2024 but recent resale deal has yet to be fully explained
Venture Global building LNG fleet to sell cargoes directly on spot market Venture Global LNG is building a large fleet of liquefied natural gas-powered vessels, amid numerous legal fights.
Silk Way West orders extra 777 freighter from Boeing Silk Way West Airlines is buying another 777 freighter from Boeing.
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