Red Sea: French frigates take out Houthi drones The EU's EUNAVOR ASPIDES naval mission, formally announced only yesterday, is already up and running with French FREMM frigates patrolling in the Gulf of Aden and Southern Red Sea intercepting and destroying
VIDEO: Chemship retrofit is a wind-assisted propulsion world first Chemship's 2015-built 16,111 dwt Chemical Challenger has become the world's first chemical tanker to be retrofitted with wind-assisted propulsion. This week, four 16-meter-high aluminum Econowind Ventofoils wing sails were installed on board
Cadeler books Baltica 2 wind turbine installation contract Copenhagen, Denmark, headquartered offshore wind farm installation specialist Cadeler (OSE: CADLR; NYSE: CDLR) has booked a major contract in Poland. Awarded by Ørsted and PGE Polska Grupa Energetyczn, it covers the transport
Truck and rail dwell time remains steady at San Pedro Bay Ports Through January, cargo traveling through the San Pedro Bay Port complex and destined for local delivery via truck spent an average of 2.89 days at port terminals, translating to a slight uptick from December's average of 2.69 days. The January truck dwell time is within the normal range, said the Pacific Merchant Shipping Association (PMSA). Dwell time for rail-destined cargo saw a small decrease
Port of Prince Rupert handles 23.5 million cargo tonnes in 2023 In 2023, the Port of Prince Rupert handled 23.5 million tonnes of cargo, translating to a decrease of 5% compared to the volumes recorded in the previous year. According to a statement, this marks the third consecutive year of declining volume and reflects the challenges posed by the dynamic nature of global shipping routes, subdued demand for imports, and the competitive landscape with other Nor
The Role Of Big Data In Personalizing Consumer Experience As we all know that e commerce companies are simply booming and giving their customers more and more options when it comes to online buying. However because the competition is increasing businesses must contend with all the obstacles to remain viable in a world of the e-commerce industry. Numerous cutting edge technologies are now available that operate in the E-commerce platform to give customer
What Electronic Music Songs to Listen to While Driving? Are you going on a journey alone or with your friends or even your family now, thinking about which electronic music songs to play to add a bit of ginger and aroma to the drive? If that is it, then we can bodily say you are in the right place right now. We understand the fact that music is one of the leading recipes that can make the journey balanced and entertaining for you and for whomever you
Factors to Consider When Selecting Private Equity Portfolio Management Software As of 2023, private equity, hedge fund, and investment vehicle sectors in the US employed 77,941 people . Success in private equity requires effective portfolio management. Many businesses use technology to streamline processes due to increasingly complex investment plans and regulatory obligations. However, selecting software designed to manage private equity portfolios can be a challenging ende
PSA partners with HERE Technologies to enhance truck operations in Singapore HERE Technologies, a major provider of location data and technology solutions, has announced its collaboration with PSA Singapore, the operator of the world's largest transshipment hub, to revolutionise the container truck ecosystem in Singapore. The aim is to enhance the efficiency of goods movement at Singapore's terminals. Singapore holds the prestigious position of being the top maritime capi
Transpacific container trade bounces back in the beginning of 2024 Transpacific eastbound box volumes have rebounded by 16.9% in January 2024 and full-year volumes are expected to record positive growth again after falling by 15.1% last year, according to the latest report by Lynerlytica. The logistics consultant said transpacific carriers have been able to take advantage of the strong cargo rebound with freight rates more than 200% higher compared to last year.
HHLA faces financial and operational challenges with declines in key performance metrics German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) recorded a drop in its revenue of 8.3% to €1.447 billion in 2023. Additionally, the Group reported an operating result (EBIT) of €109 million, thus falling below the expected range of €115-135 million, while HHLA achieved €220 million EBIT in the previous year. Moreover, the company's profit after tax and minority interests
METRANS Group acquires 100% stake in Adria Rail METRANS has acquired a 100% stake in Adria Rail, less than a year after it took over 51% of the company. Adria Rail is a Croatian company that operates intermodal trains to, from and through Croatia. The firm will present the new logo, aligned with the group's visual identity. Adria Rail has also been the intermodal operator of the trains connecting the Rijeka container terminal in the Adriatic S
SeaLead, Blue Water Line introduce new Gulf India Express service SeaLead and Blue Water Line, an Abrao Group Company, will launch a new container service, the Gulf India Express (GIX), aiming to enhance the trade routes between India and the Gulf region. Each company will deploy one vessel on the service, which is expected to provide a reliable and efficient weekly rotation connecting the key ports of Mundra, Nhava Sheva, Sohar, Jebel Ali, Dammam, and returnin
Wärtsilä and Siem Offshore partner on fleet decarbonisation solutions Siem Offshore is collaborating with technology firm Wärtsilä to diminish the carbon footprint of its fleet of 26 vessels. The company aims to cut CO2 emissions by 50% by 2030, recognizing partnership as crucial in discovering suitable technological remedies. The agreement targets the identification and deployment of solutions to enhance energy efficiency and substantially decrease greenhouse gas
Hellmann joins forces with Hamburg's digital hub as corporate partner Hellmann Worldwide Logistics, a global family-owned company, has been actively collaborating with various start-ups for years to drive the digital transformation of the industry. Since February, Hellmann has partnered with the Digital Hub Logistics in Hamburg (DHLH), contributing its expertise to anchor innovations sustainably within the structures of a global medium-sized company. DHLH, an innov
European vessel owners launch defensive maritime security operation in the Red Sea In response to increasing threats targeting commercial shipping, the European Union (EU) Council officially initiated the EU's defensive maritime security operation in the Red Sea on 19 February. Operation ASPIDES, which commenced on 19 February, is tasked with providing defensive measures to accompany and safeguard commercial vessels in the region against potential maritime attacks. European Com
Container traffic increases at Valencia terminals According to the January Statistical Bulletin of the Port Authority of València (PAV), there has been a notable 5.11% increase in the volume of goods entering and departing from Valencian terminals compared to January 2023, surpassing six million tonnes in total (6,063,224 tonnes). The container traffic has also seen a significant uptick, with the number of boxes entering and leaving the terminal
CMA CGM applies new surcharges from Europe to India, Middle East Gulf and Red Sea French ocean carrier CMA CGM announced that it will implement the following peak season surcharges, effective from 1 March. For dry cargo from North Europe, Scandinavia, Poland, Baltic, East & West Mediterranean, Adriatic, Black Sea and North Africa to the Indian ports of Nhava Sheva, Mundra and Hazira, the surcharge will be US$200 per container. Additionally, the Marseille-based box line will ap
The Role of Digitalization in Enhancing Maritime Safety and Efficiency In today's rapidly evolving maritime industry, navigating the waters of digital transformation can often feel like playing at Fire Stampede Demo , where each strategic decision and technological investment carries the potential for high rewards amidst the risks. Digitalization has become a cornerstone for enhancing safety, efficiency, and sustainability, referring to the integration and utilizati
KEZAD Group and APT sign lease agreement for automotive aluminium plant KEZAD Group signed a lease agreement with Al Ghurair Group subsidiary Automotive Precision Technology (APT) to establish an automotive aluminium component manufacturing facility. Spanning 30,000 square meters, this state-of-the-art manufacturing plant for APT will be strategically positioned within KEZAD, adjacent to Emirates Global Aluminium, a major player in the global aluminium manufacturing
Shipping in the Year of the Dragon: Containers The Year of the Dragon, the most auspicious of animals in the Chinese zodiac, is upon us. What does the following year have in store for shipping's fortunes? Maritime CEO is back with a unique annual outlook looking at the prospects for the main shipping sectors, as well as having deep dives into the Chinese ...
United Maritime expands with kamsarmax bareboat deal Nasdaq-listed Greek bulker owner United Maritime has boosted its fleet by taking a Japanese-built kamsarmax on a bareboat charter with a purchase option attached. The Stamatis Tsantanis-led spinoff of capesize specialist Seanergy Maritime is adding an unnamed 82,235 dwt ship built at Oshima. The vessel will join United's fleet for 18 months between June and ...
Belships locks in trio on index-linked contracts Oslo-listed Belships has chartered out three of its bulk carriers for at least one year each. The Lars Christian Skarsgård-led owner and operator said it had clinched index-linked contracts for a trio of ultramaxes starting in February and March this year. The unnamed ships, which will come off their fixed-rate charters, will earn a premium ...
Integrated Wind Solutions bags deal for newbuild CSOV Oslo-listed Integrated Wind Solutions has entered a time charter contract for a commissioning service operations vessel (CSOV) at market terms with Dutch transmission system operator TenneT. The charter contract, won by the company's subsidiary IWS Fleet, has a minimum duration of four months. The vessel which will be used is the Skywalker-class vessel named IWS ...
ROVOP enters long-term partnership with Boskalis Subsea Services ROV services provider ROVOP and Boskalis subsidiary Subsea Services have entered a global partnership for integrated subsea solutions for the energy industry. The partnership provides five diving support vessels (DSV) and one construction support vessel (CSV) from the Boskalis fleet, with dedicated ROV services. Seven ROVOP ROV systems will be placed across these DSVs and ...
Cadeler inks new wind turbine installation contract in Poland BW Group and Scorpio-backed offshore wind installation player Cadeler has signed a contract with Ørsted and PGE (Polska Grupa Energetyczna) for the Baltica 2 offshore wind farm project in Poland. The Oslo and New York-listed contractor has been selected to transport and install 14 MW Siemens Gamesa turbines for the approximately 1.5 GW wind farm ...
Danish International Ship Register under threat A Danish expert group has proposed to abolish the Danish International Ship Register (DIS) scheme, under which seafarers do not pay income tax - a move the country's shipowners' organisation Danish Shipping, has come out strongly against. The so-called Frigast committee has included the DIS scheme in its recommendations for changes in Denmark's more than ...
Ørsted picks new chair of the board Danish offshore wind giant Ørsted has recommended Lene Skole as the new chair of the company's board of directors. Ørsted said earlier this month that Thomas Thune Andersen, the current board chair decided not to seek re-election at the annual general meeting on March 5, 2024. Andersen served as the chair of Ørsted for ten ...
Seven German firms to get power from RWE's offshore wind farm The Kaskasi offshore wind farm developed by German utility RWE will supply seven major industrial customers in the country with green electricity from 2026. RWE Supply & Trading signed corresponding power purchase agreements (PPAs) with DHL, Ensinger, Evonik, Infraserv Höchst, Thyssenkrupp Steel Europe, and Vodafone. The first PPA from Kaskasi was signed with the retail ...
Urgent expansion underway at Romania's top port One of Europe's fast growing ports is embarking on an urgent dredging programme to accommodate the spillover from the ongoing war in neighbouring Ukraine. The Romanian government has approved a three-year $229m dredging plan across 400 ha at the Black Sea port of Constanta, When Russia backed out of the UN-backed Black Sea Grain Initiative ...
Onboard carbon capture system prototype hits 85% capture rates Researchers working on the EverLoNG ship-based carbon capture (SBCC) prototype have achieved capture rates of at least up to 85% during initial testing. The prototype was developed by Dutch firm Carbotreat and installed last year onboard the 82,000 dwt LNG-powered tanker , chartered by TotalEnergies. This campaign was the first deployment of a full-chain onboard system ...
Irish government comes under pressure over livestock shipments The Irish government is coming under pressure to rein in livestock exports, while in Cape Town one livestock carrier has kicked up a huge stink. Ethical Farming Ireland has written to the Irish agriculture minister Charlie McConalogue demanding changes to the way animals are exported by sea following a joint investigation with the NGO Israel ...
Chemship vessel becomes first chemical tanker in the world to be fitted with sail kit Chemship is celebrating becoming the first chemical tanker owner in the world to install wind propulsion. The Dutch owner has installed four VentoFoils from Econowind on the 134 m long Chemical Challenger, a ship that works a dedicated transatlantic route. Chemship expects to achieve an average CO2 reduction of 10% with these sails. CEO Niels ...
Houthis claim to strike MSC ship in Gulf of Aden Houthis claimed to have attacked an MSC vessel in the Gulf of Aden, dubbing it an 'Israeli ship', in what...
Volatile VLGCs climb from cold crash Freezing US temperatures narrowed the US-Asia propane arbitrage as the year started and had a chilling effect on VLGC spot...
Abandoned ship hit by Houthis towed to Djibouti The dry bulker hit by two Houthi missiles on Sunday is listing heavily with a flooded engine room, but the vessel's...
P&I clubs hail renewal tonnage gains Minimal vessel churn combined with higher premiums, improved investment returns and modest pool claims sees marine mutuals find sweet spot
Ship recycling sector bogged down by elevated shipping markets 'A pervading theme of an unrelenting dearth in the overall availability of tonnage across global ship recycling markets has been...
HD Hyundai scores $240m order for VLAC pair Shipbuilders from South Korea have swept up VLAC orders since ordering for this new vessel class commenced in 2023
Rail reappraised after Red Sea rerouting Rail services lost ground following the Russian invasion of Ukraine. But for some cargoes, the increased speed is making it...
VLCCs to benefit from Opec increasing exports to regain Asia share Compensating for losses from reduced imports from the West would drive Middle East exporters to reverse production cuts, broker argues
Prokopiou adds a dozen more to newbuildings tally Similarly to previous contracts, follow-on orders at two Chinese builders are for conventionally fuelled vessels
Red Sea effect sees boom in secondhand boxship enquiries - but few owners are willing to sell Geopolitics has increased inefficiencies of the global containership fleet and pushed up vessel values. But at some point a flurry...
Extra due diligence begins for marine insurers and shipowners in Russia oil price cap crackdown 'From what we understand, individual oil sales can be within the price cap even if media and other reports say...
Regional line SeaLead bought over by investment funds The new ownership aligns with SeaLead's strategic objectives, aiming to leverage its growth trajectory through enhanced governance and access to...
BHP sees India continuing to drive iron ore, coking coal demand BHP forecasts a small further improvement in global steel production with growth led by India, Southeast Asia and to a...
Daily Briefing Ship in danger of sinking after being hit by Houthi rockets | ACL targets US west coast-Europe traffic with land...
Supreme Court declines to hear SC Ports' appeal of Leatherman ruling The decision to not hear the appeal leaves intact a ruling that allows the International Longshoremen's Association to sue ocean carriers that use the Leatherman terminal, an apparent blow to the so-called "hybrid" labor model used in Charleston.
Activist investor seeks to oust CEO at 'worst' Class I railroad Norfolk Southern In addition to pushing for a leadership change, Ancora Holdings also said NS should not invest so heavily in intermodal under its current strategy and criticized the railroad for changing 180 train schedules last year to prioritize container and trailer business.
Oakland's main terminal adds overnight shift to clear vessel backlog The operator of Oakland's largest container terminal said it will take about two weeks to clear the vessel backlog at Oakland International Container Terminal.
Rotterdam, Hamburg volumes fell last year as weak economy hit demand High inflation, the rising cost of living and geopolitical tensions supressed demand from European consumers and industry in 2023, with few signs of a turnaround apparent for this year.
Matson beats Wall Street bets as steady demand tempers profit slump Hawaii container ship operator expects operating income to remain unchanged in 2024
Houthis claim attack targetting MSC-controlled bulker Vessel operated by Swiss giant is latest in militants' sights during active week
United Maritime building back bulker fleet with another leasing deal and new charters Shipowner is doubling down on bulkers and wants to grow its fleet further
Vietnamese shipowner says its tanker could not have been source of oil slick off Brazil PetroVietnam transportation unit says PVT Sunrise was in ballast and discharged no oil
Industry leader Gard expands P&I book thanks to newbuildings UK P&I Club puts the focus on portfolio management at annual insurance renewal
Axing of seafarer tax exemption would spell 'disaster' for Danish shipping Industry reacts with horror to recommendations of cost-cutting committee
Industry leader Gard expands P&I book thanks for newbuildings UK P&I Club puts the focus on portfolio management at annual insurance renewal
Price cap backers increase imports of Russian-origin oil products, say campaigners Refined oils produced outside using Russian crude in third countries are not subject to the G7 sanctions regime
Greek and Turkish shipowners clear out older bulkers as Chinese buyers circle A string of kamsarmaxes, panamaxes and supramaxes are heading from Greek and Turkish owners to the Far East
NorthStandard's premium income tops $825m at P&I renewal Newly merged outfit has registered an increase in P&I tonnage
Aristides Pittas bullish on bulker market for next two to three years EuroDry boss is encouraged by low orderbook, but geopolitical situation remains a question mark
Maersk dominates market as Red Sea disruption lifts container ship rates by a third Charter rates are up 33% after the seventh straight week of Red Sea-related rises
NorthStandard's premium income top $825m at P&I renewal Newly merged outfit has registered an increase in P&I tonnage
Mercuria fails to reclaim losses after Greek aframax tanker held due to master's error Swiss charterer was trying to appeal tribunal ruling relating to eight-month detention of Afra Oak
From the Saab to the sea: Creating wind technology to woo shipping Netherlands-based Econowind has seen its fortunes grow as shipowners see the benefits of wind
World first for Chemship: Emission-busting suction sails set to drive down emissions Chemship boss says 'it's not about the money' as he eyes energy savings
Greek shipowner Minerva Marine sells first bulker in 10 years Martinos firm on the cusp of offloading its oldest capesize to Chinese players buying across the board
Skuld shows strong growth at P&I renewal Mutual entered tonnage has reached a new record high
Boskalis linked to swoop for Altera's fleet of super-large anchor-handlers Dutch owner's deal revealed by Brazilian competition ruling
'Rare' synching of tanker and bulker markets align stars for KCC, say analysts Investment banks backing stronger earnings and share price rises for combination carrier company
Proposed axing of seafarer tax exemption would spell 'disaster' for Danish shipping Industry reacts with horror to recommendations of cost-cutting committee
Geopolitical uncertainty boosts insurance technology firm Concirrus Demand is increasing for data and intelligence on shipping's trouble spots
Houthi attacks drive VLCC rally ahead of schedule. Now owners need Opec+ to deliver BRS Group tips VLCCs to rise in the second half, but Opec+ could move earlier and support earnings
GEM VLCC to deliver first overseas crude to Nigeria's giant new Dangote refinery Broker BRS says diversification of supply could boost suezmaxes and VLCCs in region
Greek shipowner Evalend adds VLAC newbuildings to $2.1bn orderbook Company is said to be paying $121m each for the 91,000-cbm gas carriers
Will latest Houthi attacks squash shipping's tentative return to the Red Sea? Research chief Steve Gordon says more tankers and bulkers had started to risk the Red Sea passage
Hyundai Glovis extends order for world's largest car carriers with near $500m play Company will novate the vessels to KOBC and charter the quartet under a long-term contract
Ardmore has financial leeway to 'pounce' on more tankers, analysts say Fearnley Securities says conservative dividend policy means fleet renewal could continue
Stranded Sovcomflot tankers on the move again to China and India Two aframaxes, as well as Indian-controlled VLCC, resume journeys after payment and sanctions problems
Shipyards extend 17-LNG newbuilding berth deal as security issues dog TotalEnergies Mozambique project Will latest delay to project ships free up some slots for 2027 delivery dates?
India a 'continued bright spot' for steel production, says BHP How effectively China's stimulus policy is implemented is set to be a major swing factor for iron ore demand in 2024
Livestock carrier causes big stink in Cape Town Local authorities track pungent odour blanketing city to ship transporting cattle from Brazil to Middle East
'Funding concerns don't keep me up at night,' says Seabound co-founder as she eyes new carbon markets Eastern Pacific, LomarLabs and the UK have so far helped finance the development of small-scale carbon capture kit
Kenya Airways more than doubles capacity with 737-800 freighters With the addition of two secondhand Boeing 737-800 freighters, Kenya Airways Cargo is more than doubling capacity and extending its reach to the Middle East and India.
Teamsters Canada warns rail strike looms over pay, hours at CN, CPKC Teamsters Canada said negotiations with Canadian National Railway Co. and Canadian Pacific Kansas City have stalled over issues of pay and working conditions.
Are ocean spot rates past their peak? Spot-exposed carriers are likely to see a boost to their Q1 2024 financials.
Trade group wary of unfunded mandate to curtail fentanyl smuggling The Airforwarders Association has begun to collaborate more with international counterparts and moved the date of its annual event away from Super Bowl Sunday.
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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