Container transporters association at JN Port defers voluntary stoppage of work following decision to draft SOP to streamline and regularise operations at empty yards
J M Baxi Heavy executes successful stern-on load-in at Krishnapatnam Port
JNPA celebrates Independence Day with enthusiasm; advances sustainability with electric fleet transition
Baltic Exchange Market Report (16 August 2024)
THE CARRIAGE OF GOODS BY SEA BILL, 2024 (as introduced in Lok Sabha)
CONCOR aims for optimum utilisation of double-stack train operations
Ship attacked by drone boat in the Red Sea
Malaysia begins anti-dumping probe on iron, steel imports from India
CBIC launches special drive against fake GST registration
VIDEO: DRIFT Energy gets a $6 million boost for its plan to use sailing ships to produce green hydrogen Plans to produce green fuels using offshore wind are not new. However, Bath, U.K.-based startup DRIFT Energy believes that can be achieved without first having to build a wind farm. Instead, It
Crowley breaks ground for Salem Offshore Wind Terminal Crowley Wind Services yesterday marked a milestone with the ceremonial groundbreaking of the Salem Offshore Wind Terminal. This project involves transforming a former oil- and coal-fired power plant into Massachusetts' second wind
New heavy equipment processor in Georgia Heavy equipment producers moving cargo through the Georgia Ports Authority have a new Savannah-area processing and logistics services option. "We are proud to welcome Aertssen Logistics to the Ports of Savannah and Brunswick," said GPA President and CEO Griff Lynch. "Their new location in Effingham County will enable them to significantly grow their logistics business model and provide the region
COSCO SHIPPING Lines obtains TISAX Certification COSCO SHIPPING Lines officially secured the TISAX (Trusted Information Security Assessment Exchange) certification, indicating that the company meets European Union (EU) automotive industry standards for information security risk control. The TISAX certification is an evaluation system for information security risk control in the automotive industry. It has unified inspection item content and hig
MSC increases FAK rates from West Med, Adriatic and Israel to US, Bahamas, Puerto Rico, Canada and Mexico MSC will apply increased freight rates from 15 September until further notice, but not beyond 15 October, from West Mediterranean, Adriatic and Israel to the United States, Bahamas, Puerto Rico, Canada and Mexico The new rates will be as follows: All Prices are in US$ unless otherwise specified. Port of loading Port of discharge Commodity New Base Rates Former Base Rates BRC Base rate 20 DV Base
"Bizarre" LNG orders could land carriers in hot water The world's ten biggest container shipping lines have a total of 371 vessels on order, of which 162, totalling 2.2 million TEUs, are LNG powered, with 80 of these vessels over 15,000 TEUs, representing 1.44 million TEUs. Ordering of these ships has been labelled as "bizarre" by University College London's Dr Tristan Smith, who said that carriers appear to be looking at each other and copying orde
Hapag-Lloyd raises rates from Asia to Latin America German container line Hapag-Lloyd has announced a new General Rate Increase (GRI) from Asia to the West Coast of South America, Mexico, Central America and the Caribbean. This GRI will apply to cargo transported in 20' and 40' dry containers, including high cube equipment and 40' non-operative reefers. The new rate increase will take effect on 28 August for all the aforementioned destinations, wi
Dockworker strike threatens Indian cargo flows amid Red Sea-linked challenges Indian government or so-called major ports are bracing for potential disruptions due to an indefinite strike threatened by dockworker unions. The declared industrial action is scheduled to begin from 28 August, according to a joint statement issued by various national labour groups. "The [shipping] ministry and the IPA [Indian Ports Association] are remaining indecisive and reluctant to negotiate
China's maritime body urges greater oversight after several boxship fires In light of recent explosions and fires on the container ships Northern Juvenile, Maersk Frankfurt, and YM Mobility, China's Maritime Safety Administration (MSA) has called on liner operators to exercise more supervision on carrying dangerous goods. MSA said, "Shipping lines must deeply learn the lessons of the accidents, draw inferences from the cases and resolve to prevent such accidents from h
PIL launches new China-Bangladesh service Pacific International Lines (PIL) introduces a new weekly direct service connecting key ports in China and Bangladesh. The new service, known as China Chittagong Express (CCE), will commence on 31 August from Ningbo in China and will be served jointly by a consortium of vessels. Surendran Mathilagath, General Manager of Intra-Asia Services at PIL, said, "We are pleased to expand our services to C
Port of Long Beach receives federal grant for mega rail project The Port of Long Beach (POLB) will receive US$283 million from the federal government to assist in building "America's Green Gateway", a rail project that will enable the Californian port to move more cargo by trains, speeding deliveries across the entire national supply chain, easing congestion and lessening local environmental impacts. The funding was awarded for the Port's Pier B On-Dock Rail
Port of Oakland shore power use at record levels in H1 2024 The Port of Oakland established a new record for shore power usage in the first half of the year with the rate of ships plugged into the Oakland Seaport electric grid averaging 94% in the first half of 2024. By comparison, the shore power plug-in rate for all of 2023 was 85%. "Shore power is the single most effective way to reduce vessel emissions when a ship is in port," said Port of Oakland Env
Diamond Line restarts Greece-Croatia shuttle service COSCO-owned company Diamond Line has announced the relaunch of its Piraeus Rijeka Shuttle (PRS) service. This weekly service connects Croatia to COSCO's global service network via COSCO main European hub in Piraeus, Greece. The 1,800 TEU boxship Vega Daytona will be the first vessel deployed in the relaunched service. The container ship is currently under operations at Piraeus Container Terminal
Bracing for labor-related disruptions at North American ports: Interview with RailState's John Schmitter Container News recently chatted with John Schmitter, co-founder and chief commercial officer of RailState, a supply chain visibility provider monitoring the freight rail networks of Canada and parts of the United States. [This question-and-answer session was edited for clarity] Container News: There's been quite a bit of a buzz lately around potential labor disruptions in Canada: rail union membe
Seaspan enters into new shipbuilding contracts Seaspan signed 27 shipbuilding agreements for newbuild container vessels with capacities ranging from 9,000 to 17,000 TEUs, according to a recent Atlas filing to the US Securities and Exchange Commission. These contracts were thereafter novated to certain nominees, according to the filing. Upon delivery, 13 newbuilds will be chartered by the company from such nominees under bareboat charters, and
Adani's Mundra Port continues to expand Indian container trade market share Competition between government/landlord ports and Adani Ports and Special Economic Zone (APSEZ) in India is heating up, with the latter making rapid inroads into the emerging market. Adani Group's flagship Mundra Port boosted its market share of Indian containerised trade to 34% last fiscal year (2023-24), from 31% year-over-year, according to exclusive data obtained by Container News. Mundra co
HHLA delivers solid results in first half of 2024 German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) achieved to complete the first half of 2024 with positive results, despite the weak start of the year. In particular, the company's revenue rose by 4.6% to €760.3 million, operating result (EBIT) climbed by 16.8% to €58.9 million, EBIT margin amounted to 7.7% and consolidated profit after tax and minority interests increased
AD Ports secures majority ownership in Georgia's Tbilisi Dry Port AD Ports Group has completed the acquisition of a 60% stake in Georgia's Tbilisi Dry Port, which is scheduled to be operational in October. This move is expected to strengthen the Group's role in connecting Asia and Europe, via the Middle Trade Corridor, linking manufacturing centres in Western Asia to the consumer markets of Eastern Europe, by leveraging a network of sea and dry ports across Kaz
DP World reports "resilient financial results" in H1 2024 For the first half of the year, DP World announced increased revenue by 3.3% to US$9.335 billion, lower adjusted EBITDA by 4.3% to US$2.497 million and an adjusted EBITDA margin of 26.8%. "We are pleased to report resilient results, with revenue increasing by 3.3% in the first half of the year, despite challenging macroeconomic conditions," pointed out DP World Group Chairman and CEO, Sultan Ahme
Noatum Maritime buys majority stake in Safina AD Ports-owned Noatum Maritime has acquired a majority stake in Safina B.V., a maritime agency and cargo service provider in Egypt and the Middle East, in a deal expected to close in the third quarter of 2024. The acquisition of Safina is another step for Noatum Maritime in its ongoing expansion across the Mediterranean, including the establishment of new offices in Türkiye. AD Ports has also mad
Long Beach sees record box volumes in July The San Pedro Bay ports are experiencing a record-breaking period for cargo volumes, with the Port of Long Beach reporting its busiest July ever, following record results at the neighboring Port of Los Angeles. Port of Long Beach handled 882,376 TEUs in the previous month, translating to an astonishing 52.6% increase over the same month last year and surpassing the previous July record set in 202
US targets Houthi and Hezbollah-linked shipping network The US has imposed further sanctions aimed at shipping operations linked to Houthi and Hezbollah trade networks. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) said it targeted several companies, individuals and vessels accused of being involved in the shipment of Iranian commodities to Yemen and the United Arab Emirates on ...
Industry reacts to Sohmen-Pao's Avance Gas deal Good profit taking on one side and the chance to build market share on the other. Overall, analyst coverage of yesterday's mega gas shipping deal between John Fredriksen-backed Avance Gas and Andreas Sohmen-Pao-controlled BW LPG has been positive. The dual-listed unit of Singapore's BW Group will be taking over 12 ships built between 2015 and ...
Meyer Werft looks for government lifeline The Papenburg-based shipbuilder Meyer Werft could be on its way to being taken over by the state of Lower Saxony and the German government to avoid going under. The situation in the shipyard, founded in 1795 and led by seven generations of the Meyer family, is a difficult one. The company needs money by September ...
Ocean Winds taps Wood Thilsted for work on 2GW Caledonia project Ocean Winds, the developer of the 2GW Caledonia offshore wind project in the Moray Firth has selected engineering consultancy Wood Thilsted to develop the concept design for the project's turbine foundations. Wood Thilsted will use the ground and metocean data gathered across the 429 sq km Caledonia site to produce modelling for the preferred concept ...
'Vacuum' of VLOC deliveries expected to prop up rates for dry bulk's biggest ships There is currently a "vacuum" of very large ore carrier (VLOC) deliveries which could see freight rates for this largest dry bulk category jump in the months ahead, new analysis from broker BRS suggests. Cargoes carried by VLOCs, which BRS defines as above 220,000 dwt, have been steadily rising by 2.2% in recent years, going ...
US offshore wind perils continue for Ørsted with delay of Revolution Wind After the New Jersey Board of Public Utilities (NJBPU) formally stopped Ørsted's Ocean Wind One and Two projects, the Danish developer has been forced to delay another major project in the US. Even though Ørsted decided to cease the development of its Ocean Wind One and Two late last year citing surging costs facing the ...
Ørsted pulls the plug on European e-methanol project Danish utility Ørsted has abandoned its pioneering e-methanol project under construction in northern Sweden, blaming poor market growth and difficulty in securing long-term offtake contracts. Ørsted assumed full ownership and took a final investment decision on the project called FlagshipONE in late 2022 - originally developed by Liquid Wind and touted at the time as ...
Shell contracts emissions capture firm in Los Angeles Giant black pipes will be inserted into the funnels of tankers calling at Shell's Mormon Island Terminal in the Port of Los Angeles from next year. STAX Engineering, a pioneer in maritime emissions capture and control, has entered into a five-year agreement with Shell, coinciding with new California Air Resources Board (CARB) emissions regulations for ...
Noatum acquires Egyptian ship agency Noatum, a Spanish company bought by AD Ports Group last year, has bought a majority stake in Egyptian ship agency Safina. As a well-established shipping agency, Safina is situated across six office locations, including its headquarters in Cairo which allows it to provide agency services across 15 Egyptian ports, offering liner and tramp agency services ...
Subsea 7 wins work in US Gulf of Mexico Oslo-listed Subsea 7 has won a sizeable EPC and offshore installation contract in the US Gulf of Mexico from an undisclosed client. The scope of work includes engineering, procurement, construction, and offshore installation of a water injection flowline, hull piping, and associated subsea infrastructure. Project management and engineering work will start immediately at Subsea 7's ...
Crew planning: why is aviation so far ahead of us? Narayan Venkatesh, co-founder and managing director of Tilla Technologies, on what airlines can teach shipping when it comes to crew planning. The shipping industry is not exactly known for its high pace of digitalisation - and yet a lot has developed over the last few years. Change and innovation are visible in all areas of ...
How have shipping stocks fared in aftermath of summer selloff? Several tanker, container shipping and dry bulk equities are still outperforming the broader stock market, although to a much lesser...
Shipping is still stymied by economic and environmental uncertainty As Maersk U-turns on LNG and methanol projects fold, the industry is asking what has changed. This is about the...
Greek ferry lines face daunting 'green' challenge Newbuildings are needed rather than retrofits and this can tap into investors' attraction towards green projects, says consultancy's founder George...
The Lloyd's List Podcast: AMSA - strict but fair Lloyd's List principal analyst Michelle Wiese Bockmann takes the podcast Down Under this week to speak with retiring AMSA chief...
How much will it cost to comply with FuelEU? OceanScore points to tendency among smaller shipowners to pay FuelEU penalties rather than complying with most popular options such as...
No one likes the CII Caribbean countries said the CII could have "social and economic implications" stemming from penalties for ships on routes with short...
Panama Canal increases maximum draught again and adds extra slot Vessels are steadily returning to the Panama Canal as rainfall in the region finally raises water levels, with more containerships...
One Hundred Ports: Shifting port calls reveal difficulty in cutting Chinese box reliance During the first half of this year, direct boxship calls from China to the US rebounded, while those to Mexico...
One Hundred Ports: Red Sea uncertainty clouds port outlook Analysts pinpoint developments in the Red Sea as the underlying determinant for the prospects of the global port sector in...
One Hundred Ports: Box ports tread water as the 'tepid 20s' persist A second successive year of subdued volume growth is seen by the global container port sector as the industry settles...
One Hundred Ports: Box lines struggled in 2023 with weak demand and low freight rates The pandemic ordering spree came home to roost in 2023. It was only the Red Sea crisis that staved off...
Sanctioned Malaysian firm Transmarine Navigation 'shocked' by 'unbased' US allegations The US accused Transmarine Navigation of providing forged documents for the US-sanctioned tanker Dawn II, misstating its cargo's origin as...
China's expanding presence in overseas iron ore mining set to support capesize in coming years China's mining overseers have set a target of importing 220m tonnes of iron ore from its overseas projects by 2025
US lawmakers seek to raise liability limits for foreign flags 'If the foreign owners of the cargo vessel that took down the Francis Scott Key Bridge in Baltimore think they...
China Merchants boosts tanker fleet with $930m newbuild spree The orders come as the Chinese shipping giant is rumoured to be embarking on a massive 100-ship ordering plan to...
Shipbuilding déjà vu: Hengli eyes IPO in echo of the ill-fated Rongsheng Should the rumoured IPO materialise, the valuation placed on the resurrected Chinese shipbuilder will serve as a barometer for investors'...
Fremantle port workers to stage 48-hour walkout The strikes will largely affect movement to and from berths, with 10 vessels set to either arrive or leave the...
Daily Briefing Avance Gas sells VLGC fleet to BW LPG for $1.05bn | BW LPG's 12-carrier swoop extends its lead in VLGCs...
Ro/ro cargo rates rise despite falling demand Major roll-on/roll-off carriers reported climbing net rates in the first half even as demand for machinery and rolling stock faltered and a congested shipping market tightened capacity.
Trans-Pacific rate push tests health of early peak season Carriers on Thursday announced general rate increases of $200 to $400 per FEU, although forwarders say the GRIs could deteriorate quickly due to options such as voyage-specific "bullet" rates and lower pricing offered by non-alliance carriers.
Potential strikes could upset muted trucking outlook Disruption to inland supply lanes and the location of truck capacity would be possible if rail and port strike threats prove real, analysts told a Journal of Commerce webcast.
Transportation industry welcomes project cargo 'reality check' Project slowdowns ease pressure on heavy transport service providers and the breakbulk supply chain, injecting realism into schedules, but a buoyant outlook could mask signs of stress, executives say.
Malaysian agent 'shocked and totally surprised' by US blacklisting Transmarine Navigation Malaysia representative says others may have used its stamp
Infographic: VLGC rates rise as Atlantic market activity 'steals the show' Futures curve rises to higher peak in December
Don't pop the champagne yet over China iron ore figures, says SSY research chief Situation looks 'worrisome' in the short term
Panamax bulker congestion could return to Brazil on soy influx Some 68 panamax bulkers are waiting at Brazilian terminals
Ships that can generate hydrogen from wind closer to reality as start-up bags funding Vessel designed to seek 'Goldilocks' wind patterns to fill removable tanks with green hydrogen
HMM adds $60m container ship purchases to secondhand buying spree Seoul-based company bought two vessels from RCL and one from MPC Container ships
Ships that can generate hydrogen from wind closer to reality and start-up bags funding Vessel designed to seek 'goldilocks' wind patterns to fill 40' removable tanks with green hydrogen
Braemar hires corporate broker to better connect with money markets New appointment will aid brokerage's presence in public market
Gulf Navigation says Brooge takeover deal is 'progressing' now that acquisition target has new board Shipowner confident about concluding deal despite reporting a loss in the first half of current financial year
Zim expected to reap the rewards of its fleet expansion bet Carrier rises in top-10 ranking after ramping up teu capacity by 20% in 12 months
Shipowner Seapeak concludes sale and leaseback deal on one of first two-stroke LNG carriers Second quarter and interim figures slide for Stonepeak's gas shipowner
Wavelength podcast: Growth of the dark LNG fleet, VLCC sunshine and dry bulk detention risks Older LNG carriers being used in Arctic trade get the market attention
Subsea 7 expands multi-billion dollar backlog with Gulf of Mexico contract Kristian Siem-backed owner adds to its multi-billion dollar backlog
New York-listing key to $1bn deal that extends Andreas Sohmen-Pao's takeover streak Swoop for John Fredriksen's VLGC fleet latest in run of deals by BW going back over a decade
Viking Line to run first green corridor in Baltic Sea Route between Finland and Sweden to use only biogas fuel for one week
Wavelength Podcast: Growth of the dark LNG fleet, VLCC sunshine, and drybulk detention risks Older LNG carriers being used in Arctic trade get the market attention
Shipping is a risk management business. Fuel choice is no different The energy transition asks difficult questions of shipowners, their flexible approach is to be applauded, says Alexander Döll
Sail pioneer's first newbuilding departs for trans-Atlantic trip laden with cargo TOWT has ambition to become world leader in sail cargo
John Fredriksen's Avance Gas shares see wild swings as investors digest $1bn deal Analysts see more M&A activity by Avance with remaining ships tipped for a new home with sibling SFL
Himalaya Shipping books profitable quarter with fully delivered newcastlemax fleet Shipowner has 12 dual-fuel newcastlemax bulk carriers able to run on LNG
How Hoegh Autoliners is preparing for its first LNG-fuelled ships and keeping its ammonia goals alive First crews trained for LNG fuel use, with future seafarers being prepared to handle ammonia with Yara help
Shipbuilder Hengli Heavy readies Hong Kong IPO as it breaks ground on expansion Reborn Chinese shipyard investing $1.5bn to add new drydock and steel processing factories as it doubles up its shipbuilding capacity
Gulf Navigation says Brooge takeover deal is 'progessing' now that acquisition target has new board Shipowner confident about concluding deal despite reporting a loss in the first half of current financial year
Singapore Shipping Association on the hunt for new executive director as Phoon leaves Michael Phoon resigns after 10 years to pursue other interests and opportunities
Bengal Tiger Line golf masters to live on despite departure of CEO Bill Smart Hectic containership markets fail to keep industry players away from top industry get together
HMM adds in $60m container ship purchases to second hand buying spree The Seoul-based company bought two vessels from RCL and one from MPC Container ships
Wisconsin importers pay $10M to settle customs fraud case Two Midwest importers have settled a customs fraud case with the U.S. government for $10 million.
Long Beach hotter than July as containers soar to monthly record The outlook for supply chain congestion this fall led importers to move holiday goods earlier than usual through Long Beach, the second-busiest U.S. port.
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